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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Aug. 31, 2015
Aug. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,336,778) $ (5,536,124)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 48,657 18,572
Share based compensation 492,359 $ 359,000
Loss on assets held for sale 10,196
Loss on settlement of capital lease $ 8,820
Common stock issued for services $ 310,375
Accretion expense $ 29,883 $ 539,319
Gain related to reimbursement of prior period research and development expenses ASET (Note 9) $ (100,000)
Beneficial conversion feature $ 2,324,759
Amortization of deferred financing costs $ 60,523
Change in fair value of warrant liability $ (172,900)
Change in fair value of put embedded in note payable $ 3,134
Net changes in assets and liabilities    
Other receivable $ 20,000
Prepaid expenses $ (40,729) (35,452)
Refundable deposits (2,100) (278,952)
Accounts payable (27,326) 135,843
Accrued expenses 226,676 49,753
Interest payable 5,649 63,712
NET CASH USED IN OPERATING ACTIVITIES (1,854,459) $ (1,968,672)
Cash Flows from Investing Activities    
Proceeds received from settlement of capital lease $ 2,897
Proceeds from sale of investment $ 785,962
Purchase of equipment $ (149,458) (10,090)
Net cash used in (provided by) investing activities (146,561) 775,872
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of notes 1,200,000 $ 615,000
Payment of debt issuance costs $ (88,592)
Proceeds from issuance of common stock and warrants, net $ 750,000
Re-purchase of common stock and warrants $ (111,563)
Proceeds from issuance of Series B preferred stock and warrant, net $ 1,945,244
Payment of convertible notes $ (100,000)
Payment of short-term debt $ (71,500) $ (59,951)
Payment of capital lease obligation (42,407)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,831,182 $ 1,205,049
Net increase in cash and cash equivalents 830,162 12,249
Cash and cash equivalents at the beginning of the period 257,820 483,408
Cash and cash equivalents at the end of the period 1,087,982 $ 495,657
Supplemental Disclosure of Non-Cash Financing Activities    
Warrant liability associated with note payable $ 150,544
Issuance on lease financing for fixed assets $ 318,603
Securities held for sale exchanged for common stock and preferred shares 1,344,000
Common stock and warrants issued for conversion of debt 3,558,413
Accrued offering costs 29,999
Financing of insurance premium through short-term debt $ 107,250 $ 93,840
Note receivable received for sale of assets 75,000
Warrants issued to placement agents 175,241
Series B Preferred PIK dividend 94,793
Series B Preferred Stock accrued dividends 124,467
Capital lease settled against deposit $ 227,235