NOTES PAYABLE (Tables)

9 Months Ended

Nov. 30, 2013

NOTES PAYABLE [Abstract]

Notes payable

Notes payable consisted of the following:

	November 30, 2013		February 28, 2013
Demand notes payable, at 10% and 16%	$	1,534,990	$	3,004,990
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.		770,664		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.		394,520		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
Senior secured convertible notes dated May 7, 2013, due June 15, 2013, convertible into shares of our common stock at a price of $0.75 per share. The notes carry an interest rate of 12% with interest due on the last day of the month. If the note is not repaid by the due date, the interest rate increases to 16%.		2,071,584		-
Senior secured convertible notes dated June 20, 2013, due June 20, 2014, convertible into shares of our common stock at a price of $0.75 per share. The notes carry an interest rate of 16% with interest due on the last day of the month. If the note is not repaid by the due date, the interest rate increases to 16%.		290,008		-
		5,061,766		4,606,436
Less: Current portion	$	3,896,582	$	3,508,498
Long-term portion	$	1,165,184	$	1,097,938

Future maturities of notes payable

Future maturities of notes payable at November 30, 2013 are as follows:

Year Ending February 28,
2014	$	-
2015		-
2016		-
2017		3,054,287
Total	$	3,054,287