XML 38 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Aug. 31, 2015
Aug. 31, 2014
Revenue        
Revenue
Total revenue
OPERATING EXPENSES        
General & administrative $ 1,076,032 $ 1,267,176 $ 2,024,928 $ 1,802,677
Research & development 317,968 479,635 537,294 732,717
Total Operating Expenses 1,394,000 1,746,811 2,562,222 2,535,394
OTHER EXPENSES (INCOME)        
Interest expense $ 40,444 217,860 $ 45,361 618,606
Deferred financing costs amortization 15,131 60,523
Other income, net $ (139,967) (522) $ (140,136) (3,159)
Beneficial conversion feature $ 2,324,760 $ 2,324,760
Change in fair value of warrant liability $ (36,400) $ (172,900)
Change in fair value of put embedded in note payable 3,134 3,134
Settlement expense 660 39,097
Total Other Expenses (Income) (132,129) $ 2,557,229 (225,444) $ 3,000,730
NET LOSS (1,261,871) (4,304,040) (2,336,778) (5,536,124)
Net loss $ (1,261,871) $ (4,304,040) (2,336,778) $ (5,536,124)
Deemed Dividend on Series B Preferred Stock issuance (1,067,491)
Accrued dividends on Series B Preferred Stock $ (69,205) (124,467)
Loss attributable to common shareholders $ (1,331,076) $ (4,304,040) $ (3,528,736) $ (5,536,124)
Net loss per share, basic and diluted $ (0.73) $ (2.53) $ (1.94) $ (3.52)
Weighted average shares outstanding 1,823,003 1,702,820 1,816,136 1,572,171