SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

May 31, 2014

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, 2014		$0.75-$1.00	$0.00	8,602,333
Cancelled		$0.75		52,000
Granted		-		-
Outstanding, May 31, 2014		$0.75-$1.00	$0.00	8,550,333

Exercise price of options outstanding and options information

The exercise prices for the options outstanding at May 31, 2014, 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

8,550,333

5.65 years

$

0.79

5.75 years

8,183,666

$

0.79

Warrants Activity

Activity in issued and outstanding warrants is as follows:

	Number of Shares	Exercise Prices
Outstanding, February 28, 2014	48,503,720	$0.75-$2.00
Granted	-	-
Exercised	(17,334,540)	$0.10
Cancelled	(217,830)	$0.75
Outstanding, May 31, 2014	30,951,350	$0.75-$2.00

Exercise prices for the warrants outstanding and warrant information

The exercise prices for the warrants outstanding at May 31, 2014, 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	1,082,734	1,082,734	81 months	$0.75	$0.75	$0.00
$0.75	1,000,000	1,000,000	71 months	$0.75	$0.75	$0.00
$0.75-$1.00	5,990,275	5,990,275	66 months	$0.77	$0.77	$0.00
$1.00-$1.25	995,000	995,000	28months	$1.04	$1.04	$0.00
$1.00	16,422,787	16,422,787	27 months	$1.00	$1.00	$0.00
$1.50	105,000	105,000	22 months	$1.50	$1.50	$0.00
$0.75-1.50	909,198	909,198	19 months	$1.14	$1.14	$0.00
$1.50	156,000	156,000	15 months	$1.50	$1.50	$0.00
$1.50	704,000	704,000	14 months	$1.50	$1.50	$0.00
$1.50	350,642	350,642	11 months	$1.50	$1.50	$0.00
$2.00	235,714	235,714	5 months	$2.00	$2.00	$0.00
$0.75-1.50	3,000,000	3,000,000	1 months	$1.00	$1.00	$0.00
	30,951,350	30,951,350