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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
May. 31, 2015
May. 31, 2014
Feb. 28, 2015
Feb. 28, 2014
Revenue        
Revenue
Total revenue
OPERATING EXPENSES        
General & administrative $ 948,895 $ 529,836 $ 3,524,901 $ 3,526,863
Research & development 219,327 258,747 1,266,158 824,336
Total Operating Expenses 1,168,222 788,583 4,791,059 4,351,199
OTHER EXPENSES (INCOME)        
Interest income $ 4,917 58,673 95,019 137,098
Accretion expense 342,073 539,319 829,969
Deferred financing costs amortization 45,392 60,523 14,159
Other income, net $ (169) $ (2,637) (2,253) $ (82)
Realized loss on marketable securities, including brokerage fees and commissions     (68,748)
Change in fair value of warrant liability (136,500) 118,300
Beneficial conversion feature     $ 2,324,759
Loss on extinguishment of debt     $ 32,853
Settlement expense 38,437    
Total Other Expenses (Income) (93,315) $ 443,501 $ 3,204,415 1,013,997
NET LOSS (1,074,907) (1,232,084) (7,995,474) (5,365,196)
Net loss (2,197,660) $ (1,232,084) (8,237,537) $ (5,365,196)
Deemed Dividend on Series B Preferred Stock issuance (1,067,491) (225,296)
Accrued dividends on Series B Preferred Stock (55,262) (16,767)
Loss attributable to common shareholders $ (2,197,660) $ (1,232,084) $ (8,237,537) $ (5,365,196)
Net loss per share, basic and diluted $ (1.21) $ (.85) $ (4.95) $ (3.80)
Weighted average of shares outstanding 1,809,257 1,441,521 1,661,933 1,411,273