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NOTE PAYABLE (Tables)
3 Months Ended
May 31, 2016
Note Payable Tables  
Summary of notes payable

The following table summarizes the notes payable:

 

   

Note

Payable

    Discount     Voluntary Exchange Feature    

Note

Payable,

Net

 
February 29, 2016 balance   $ 1,800,000     $ (743,282 )    $ 476,402     $ 1,533,120  
Issuance of Note     150,000       (74,932 )      32,497       107,565  
Amortization of debt discount     -       279,593       -       279,593  
Change in value     -       -       53,999       53,999  
May 31, 2016 balance   $ 1,950,000     $ (538,621)     $ 562,898     $ 1,974,277  

 

Fair value measurements
  Note Payable Warrants   Series B Warrants     Total  
Fair value at February 29, 2016 $ 188,351   $ 46,110     $ 234,461  
Additions   15,225      -       15,225  
Change in fair value:   31,636     2,856       34,492  
Fair value at May 31, 2016 $ 235,212   $ 48,966     $ 284,178