XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Aug. 31, 2014
Aug. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (5,536,124) $ (2,572,977)
Depreciation 18,572 6,804
Option expense 359,000 846,710
Common stock issued for services 310,375 284,200
Accretion of discount 539,319 363,306
Beneficial conversion feature 2,324,759   
Amortization of deferred financing costs 60,523   
Net changes in operating assets and liabilities:    
Other receivables 20,000   
Prepaid expenses (35,452) 20,531
Refundable deposit (278,952)   
Accounts payable 135,843 (95,945)
Accrued expense 49,753   
Accrued interest 63,712 62,489
NET CASH USED IN OPERATING ACTIVITIES (1,968,672) (1,084,882)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of investment 786,000   
Purchase of equipment 10,090 2,366
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 775,872 (2,366)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from equity financing 750,000   
Payments of convertible debt (100,000)  
Payment of short-term debt (59,951) (51,860)
Proceeds from issuance of convertible debt 615,000 700,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,205,049 648,140
NET INCREASE (DECREASE) IN CASH 12,249 (439,108)
Cash at the beginning of the year 483,408 969,188
Cash at the end of the year 495,657 530,080
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Common stock and warrants issued for conversion of debt 3,558,413   
Issuance on lease financing for fixed assets 318,603   
Securities held-for-sale exchanged for common and preferred shares 1,344,000   
Accrued offering costs 29,999   
Financing of insurance premium through notes payable 93,840 93,840
Debt discount $ 173,035 $ 545,354