SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Nov. 30, 2014

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				(825,333	)
Granted		-				-
Outstanding, November 30, 2014	$	0.75-$1.00	$	0.00		7,777,000

The exercise prices for the options outstanding at November 30, 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		7,777,000	5.4 years		$	0.79	5.5 years		7,777,000		$	0.79

Activity in issued and outstanding warrants is as follows:

The exercise prices for the warrants outstanding at November 30, 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
$	0.10-$0.75		18,381,012		18,381,012	77 months	$	0.55	$	0.55	$	0.00
$	0.75		1,082,734		1,082,734	75 months	$	0.75	$	0.75	$	0.00
$	0.75		1,000,000		1,000,000	65 months	$	0.75	$	0.75	$	0.00
$	0.75-$1.00		5,990,275		5,990,275	60 months	$	0.77	$	0.77	$	0.00
$	1.00-$1.25		795,000		795,000	22 months	$	1.05	$	1.05	$	0.00
$	1.00		8,272,187		8,272,187	20 months	$	1.00	$	1.00	$	0.00
$	1.50		105,000		105,000	16 months	$	1.50	$	1.50	$	0.00
$	0.75-1.50		709,198		709,198	13 months	$	1.25	$	1.25	$	0.00
$	1.50		156,000		156,000	9 months	$	1.50	$	1.50	$	0.00
$	1.50		704,000		704,000	8 months	$	1.50	$	1.50	$	0.00
$	1.50		350,642		350,642	5 months	$	1.50	$	1.50	$	0.00

			37,546,048		37,546,048