SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Nov. 30, 2012

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 29, 2012		$0.75-$1.00	$0.00	6,268,500
Cancelled		$0.75		(313,000)
Granted		$0.75		566,500
Outstanding, November 30, 2012		$0.75-$1.00	$0.00	6,522,000

Exercise price of options outstanding and options information

The exercise prices for the options outstanding at November 30, 2012, 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

6,522,000

2.28 years

$

0.80

1.84 years

5,162,328

$

0.78

Warrants Activity

Activity in issued and outstanding warrants is as follows:

	Number of Shares	Exercise Prices
Outstanding, February 29, 2012	31,009,738	$0.75-$4.00
Granted	406,941	$1.00
Expired	(983,390)	$3.00-$4.00
Outstanding, November 30, 2012	30,433,289	$0.75-$4.00

Exercise prices for the warrants outstanding and warrant information

The exercise prices for the warrants outstanding at November 30, 2012, 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
$1.00	406,941	406,941	56 months	$1.00	$1.00	$0.00
$0.75-$1.00	6,225,000	6,225,000	46 months	$0.99	$0.99	$0.00
$1.00	16,722,787	16,722,787	45 months	$1.00	$1.00	$0.00
$1.50	155,000	155,000	40 months	$1.50	$1.50	$0.00
$0.75-1.50	1,109,198	1,109,198	37 months	$1.17	$1.17	$0.00
$1.50	156,000	156,000	33 months	$1.50	$1.50	$0.00
$1.50	704,000	704,000	32 months	$1.50	$1.50	$0.00
$1.50	350,642	350,642	29 months	$1.50	$1.50	$0.00
$0.75-$2.00	58,000	58,000	25 months	$1.78	$1.78	$0.00
$2.00	725,721	725,721	22 months	$2.00	$2.00	$0.00
$0.75-2.00	3,650,000	3,650,000	19 months	$1.03	$1.03	$0.00
$3.00	170,000	170,000	12 months	$3.00	$3.00	$0.00
	30,433,289	30,433,289