WARRANTS (Tables)

3 Months Ended

May 31, 2013

Warrants Tables

Common stock purchase warrants issued and outstanding

The following table summarizes common stock purchase warrants issued and outstanding:

	Warrants		Weighted average exercise price		Aggregate intrinsic value		Weighted average remaining contractual life (years)
Outstanding at February 28, 2013		2,732,074	$	1.12	$	6,489,388		3.52
Granted		78,480	$	2.95		-		3.89
Exercised		-		-		-		-
Forfeited		-		-		-		-
Expired		-		-		-		-
Outstanding at May 31 2013		2,810,554	$	1.18	$	3,770,130		3.53

Warrants exercisable

Warrants exercisable at May 31, 2013 are:

Exercise				Weighted average		Exercisable number of
prices		Number of shares		remaining life (years)		shares
$	0.68		220,000		3.46		220,000
$	0.91		1,497,124		3.67		1,497,124
$	1.40		786,250		3.24		786,250
$	1.50		150,000		3.35		150,000
$	2.50		8,480		4.77		8,480
$	3.00		148,700		3.75		148,700