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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
May 31, 2016
May 31, 2015
Cash Flows from Operating Activities    
Net loss $ (1,219,789) $ (1,074,907)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 23,766 24,845
Share-based compensation 119,086 207,112
Amortization of debt discount 279,593 0
Change in fair value of warrant liability 34,492 (136,500)
Change in fair value of put embedded in note payable 53,999 0
Net changes in assets and liabilities    
Prepaid expenses (971) (13,862)
Refundable deposit 0 (2,100)
Accounts payable and accrued expenses 266,299 96,496
Interest payable 24,000 (2,351)
Net Cash used in Operating Activities (419,525) (901,267)
Cash Flows from Investing Activities    
Purchase of equipment 0 (97,922)
Net Cash used in Investing Activities 0 (97,922)
Cash Flows from Financing Activities    
Proceeds from issuance of debt 125,000 0
Payment of debt issuance costs (2,210) 0
Proceeds from issuance of common stock and warrants, net 126,487 0
Proceeds from issuance of Series B preferred stock and warrant, net 0 1,945,244
Common stock and warrant cancellation settlement 0 (111,563)
Payment of capital lease obligation 0 (23,999)
Payment of short-term debt (39,241) (35,750)
Net Cash provided by Financing Activities 210,036 1,773,932
Net (decrease) increase in cash and cash equivalents (209,489) 774,743
Cash at the beginning of the period 363,783 257,820
Cash at the end of the period 154,294 1,032,563
Supplemental Disclosure of Non-Cash Financing Activities    
Warrant liability associated with note payable 15,225 0
Deemed dividend related to Series B Preferred Stock BCF adjustment for conversion price adjustment 708,303 0
Series B Preferred PIK dividend 72,476 26,498
Series B Preferred Stock accrued dividends 73,442 55,262
Issuance of common stock as payment of accounts payable 32,000 0
Financing of insurance premium through notes payable 158,400 107,250
Reclassification of equipment to assets held for sale 0 85,196
Warrants issued to placement agents $ 15,400 $ 158,441