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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Nov. 30, 2015
Nov. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,573,050) $ (6,943,697)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 72,422 40,258
Share based compensation 724,526 1,173,639
Loss on assets and securities held for sale 10,196 $ 33,707
Loss on settlement of capital lease 8,820
Accretion expense $ 129,354 $ 539,319
Beneficial conversion feature 2,324,759
Amortization of deferred financing costs $ 60,523
Change in fair value of warrant liability $ (123,393)
Change in fair value of put embedded in note payable $ 3,134
Net changes in assets and liabilities    
Other receivable $ 20,000
Prepaid expenses and other current assets $ 24,844 46,226
Refundable deposits (3,600) (278,952)
Accounts payable 60,912 251,599
Accrued expenses 198,350 37,190
Interest payable 29,649 63,712
NET CASH USED IN OPERATING ACTIVITIES (2,437,836) $ (2,631,717)
Cash Flows from Investing Activities    
Note receivable (50,000)
Proceeds received from settlement of capital lease $ 2,897
Proceeds from sale of investment $ 1,142,926
Purchase of equipment $ (151,830) (65,645)
Net cash used in (provided by) investing activities (198,933) 1,077,281
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 $ (107,250) (30,955)
Payment of capital lease obligation (42,407) $ (93,840)
Deferred offering costs (151,566)
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,643,866 $ 1,140,205
Net increase in cash and cash equivalents 7,097 (414,231)
Cash and cash equivalents at the beginning of the period 257,820 483,408
Cash and cash equivalents at the end of the period 264,917 $ 69,177
Supplemental Disclosure of Non-Cash Financing Activities    
Warrant liability associated with note payable $ 150,544
Placement agent warrants issued with note payable 16,800
Beneficial conversion feature associated with the convertible notes $ 45,746
Warrants issued with convertible notes 127,289
Issuance on lease financing for fixed assets 318,603
Securities held for sale exchanged for common stock and preferred shares 1,000,000
Common stock and warrants issued for conversion of debt 3,558,413
Accrued offering costs 38,950
Securities exchanged for preferred shares 256,633
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 164,454
Series B Preferred Stock accrued dividends 195,057
Capital lease settled against deposit $ 227,235