NOTES PAYABLE (Tables)

6 Months Ended

Aug. 31, 2014

NOTES PAYABLE [Abstract]

Notes payable

Notes payable consisted of the following:

	August 31, 2014		February 28, 2014
Demand notes payable, at 10% and 16%	$	1,679,990	$	1,559,990
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.		817,272		786,198
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.		415,158		401,399
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%.		2,395,700		2,261,643
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%.		325,000		305,913
		5,633,120		5,315,143
Less: Current portion	$	4,400,690	$	4,127,545
Long-term portion	$	1,232,430	$	1,187,598

Future maturities of notes payable

Future maturities of notes payable at August 31, 2014 are as follows:

Year Ending February 28,
2015	$	-
2016		-
2017		1,232,430
Total	$	1,232,430