SHAREHOLDERS EQUITY (Tables)

3 Months Ended

May 31, 2013

SHAREHOLDERS' EQUITY [Abstract]

Stock option activity

In September, 2006, our Board of Directors adopted the 2006 Employee Stock Option Plan. Activity in this plan is as follows:

	2006 Plan
		Weighted-Average  Exercise Price		Aggregate Intrinsic Value		Number of Options
Outstanding, February 28, 2013		$	0.75-$1.00	$	0.00		8,548,000
Cancelled			-				-
Granted			-				-
Outstanding, May 31, 2013		$	0.75-$1.00	$	0.00		8,548,000

Exercise price of options outstanding and options information

The exercise prices for the options outstanding at May 31, 2013, and information relating to these options is as follows:

Options Outstanding							Exercisable Options
Range of Exercise Price		Number		Weighted Average  Remaining  Life	Weighted Average  Exercise  Price		Weighted Average  Remaining Life	Number	Weighted Average  Exercise  Price
$	0.75-$1.00		8,548,000	6.65 years	$	0.79	6.75 years	8,048,000	$	0.79

Warrants Activity

Activity in issued and outstanding warrants is as follows:

	Number of Shares			Exercise Prices
Outstanding, February 28, 2013		38,783,290		$	0.75-$4.00
Granted		3,368,762		$	0.75
Cancelled		(5,005,000	)	$	0.75
Outstanding, May 31, 2013		37,147,052		$	0.75-$4.00

Exercise prices for the warrants outstanding and warrant information

The exercise prices for the warrants outstanding at May 31, 2013, and information relating to these warrants is as follows:

Range of  Exercise Prices		Stock Warrants Outstanding		Stock Warrants  Exercisable		Weighted- Average Remaining Contractual Life	Weighted- Average  Exercise Price of Warrants  Outstanding		Weighted- Average  Exercise Price of Warrants  Exercisable		Intrinsic  Value
$	0.75		3,368,762		3,368,762	83 months	$	0.75	$	0.75	$	0.00
$	0.75-$1.00		8,756,942		8,756,942	74 months	$	0.81	$	0.81	$	0.00
$	1.00-$1.25		1,220,000		1,220,000	40 months	$	1.03	$	1.03	$	0.00
$	1.00		16,722,787		16,722,787	39 months	$	1.00	$	1.00	$	0.00
$	1.50		155,000		155,000	34 months	$	1.50	$	1.50	$	0.00
$	0.75-1.50		1,109,198		1,109,198	31 months	$	1.17	$	1.17	$	0.00
$	1.50		156,000		156,000	27 months	$	1.50	$	1.50	$	0.00
$	1.50		704,000		704,000	26 months	$	1.50	$	1.50	$	0.00
$	1.50		350,642		350,642	23 months	$	1.50	$	1.50	$	0.00
$	0.75-$2.00		58,000		58,000	19 months	$	1.78	$	1.78	$	0.00
$	2.00		725,721		725,721	16 months	$	2.00	$	2.00	$	0.00
$	0.75-2.00		3,650,000		3,650,000	13 months	$	1.03	$	1.03	$	0.00
$	3.00		170,000		170,000	6 months	$	3.00	$	3.00	$	0.00
			37,147,052		37,147,052