NOTES PAYABLE (Tables)

12 Months Ended

Feb. 28, 2013

NOTES PAYABLE [Abstract]

Notes payable

Notes payable consisted of the following:

	February 28, 2013		February 29, 2012
Demand notes payable, at 10% and 12%	$	3,004,990	$	150,000
Convertible Promissory Note dated August 10, 2012, due August 10, 2017, convertible into shares of our common stock at a price of $0.76 per share. The note carries an interest rate of 7% with interest only payments due on the 10th of each month with the principal payment due on the maturity date.		724,056		-
Convertible Promissory Note dated October 2, 2012, due October 2, 2017, convertible into shares of our common stock at a price of $0.76 per share. The note carries an interest rate of 7% with interest only payments due on the 2nd of each month with the principal payment due on the maturity date.		373,882		-
Convertible Promissory Note dated November 2, 2012, due January 4, 2013, convertible into shares of our common stock at a price of $0.76 per share. The note carries an interest rate of 7% with interest only payments due on the 2nd of each month with the principal payment due on the maturity date.		350,000		-
Senior secured convertible note dated September 23, 2011, due March 23, 2013, with 12 monthly payments commencing April 23, 2012 of $306,250 per month. The notes have a stated interest rate of 0%, with prepaid interest of $175,000. Balance net of Beneficial Conversion Feature		153,508		1,161,430
		4,606,436		1,311,430
Less: Current portion	$	3,508,498	$	1,214,644
Long-term portion	$	1,097,938	$	96,786

Future maturities of notes payable

Future maturities of notes payable at February 28, 2013 are as follows:

Year Ending February 28,
2014	$	353,508
2015		-
2016		-
2017		1,097,938
Total	$	1,451,446