Shareholders' Equity

3 Months Ended

May 31, 2019

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

 NOTE 6 – SHAREHOLDERS' EQUITY

Common Stock

During the three months ended May 31, 2019, we issued 156,250 shares of common stock for $50,000.

During the three months ended May 31, 2018, we did not issue any shares of common stock.

Employee Stock Options

The 2006 Employee Stock Option Plan

In September 2006, our Board of Directors adopted the 2006 Employee Stock Option Plan, subject to shareholder approval, which was obtained at a special shareholders meeting in 2009. Under the 2006 Plan, the Company may grant options for up to the greater of Three Million (3,000,000) or 10% of the number of shares of the Common Stock of Aura from time to time outstanding. The shares of Common Stock available under the 2006 Plan was increased to the greater of Ten Million shares (10,000,000) or 15% of the number of shares of Common Stock of Aura from time to time outstanding at the October 2011 shareholders meeting. The exercise price of each option shall be at least equal to the fair market value of such shares on the date of grant. The term of the options may not be greater than ten years, and they typically vest over a three-year period. No options were issued during the three-month period ended May 31, 2019. Activity in the plan for the three-month period ended May 31, 2019 is as follows:

					Weighted
	Number of		Exercise		Average Intrinsic
	Shares		Prices		Value
Outstanding, February 28, 2019		647,000	$	1.40	$	-
Granted		-		-		-
Exercised		-		-		-
Cancelled		-		-		-
Outstanding, May 31, 2019		647,000	$	1.40	$	-

Information regarding the options outstanding and exercisable as of May 31, 2019 follows:

Options Outstanding

Exercisable Options

Weighted

Weighted

Weighted

Average

Average

Average

Weighted

Range of

Remaining

Exercise

Remaining

Average

Exercise Price

Number

Life

Price

Life

Number

Exercise Price

$

1.40

647,000

.75 Yr

$

1.40

.75 Yr

647,000

$

1.40

The 2011 Director and Executive Officers Stock Option Plan

In October 2011 shareholders approved the 2011 Director and Executive Officers Stock Option Plan at the Company's annual meeting. Under the 2011 Plan, the Company may grant options for up to 15% of the number of shares of Common Stock of the Company from time to time outstanding. Pursuant to this plan, the Board or a committee of the Board may grant an option to any person who is elected or appointed a director or executive officer of the Company. The exercise price of each option shall be at least equal to the fair market value of such shares on the date of grant. The term of the options may not be greater than five years. Activity in the plan for the three-month period ended May 31, 2019 is as follows:

Warrants

Activity in issued and outstanding warrants is as follows:

	Number of		Exercise
	Shares		Prices
Outstanding, February 28, 2019		7,490,987	$	1.40
Granted		-		-
Exercised		-		-
Cancelled		-		-
Outstanding, May 31, 2019		7,490,987	$	1.40

Information regarding the warrants outstanding and exercisable as of May 31, 2019 follows 

Range of Exercise Price		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
$	1.40		7,490,987		7,485,987		3.25 Yrs.	$	1.40	$	1.40