NOTE 10 - STOCKHOLDERS’ DEFICIT

Common Stock

At February 29, 2016 and February 28, 2015, we had 150,000,000 shares of $0.0001 par value common stock authorized for issuance, respectively. During the years ended February 29, 2016 and February 28, 2015, we issued nil and 24,126,933 shares of common stock, respectively.

During the year ended February 29, 2016, the Company did not issue any shares of common stock.

During the year ended February 28, 2015, we issued 2,800,000 shares of Common Stock for services rendered valued at $420,000, 17,334,533 shares of common stock upon the exercise of warrants for proceeds of $1,773,453 and we sold 3,992,400 shares of common stock for proceeds of $631,460.

Employee Stock Options

In September, 2006, our Board of Directors adopted the 2006 Employee Stock Option Plan, subject to shareholder approval, which was obtained at a special shareholders meeting in 2011. Under the Plan, the Company may grant options for up to the greater of Three Million (3,000,000) or 10% of the number of shares of the Common Stock of Aura from time to time outstanding. The exercise price of each option shall be at least equal to the fair market value of such shares on the date of grant. The term of the options may not be greater than ten years, and they typically vest over a three-year period.

During the year ended February 29, 2016, no employee options were granted by the Company.

The Company incurred stock options related expenses of $0 and $0, during the years ended February 29, 2016 and February 28, 2015, respectively.

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
Granted		-				-
Cancelled	$	0.75				(825,833	)
Outstanding, February 28, 2015	$	0.75-$1.00	$	0.00		7,777,000
Granted		-				-
Cancelled	$	0.75				(553,000	)
Outstanding, February 29, 2016	$	0.75-$1.00				7,224,000

The exercise prices for the options outstanding at February 29, 2016, 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

7,224,000

4 years

0.79

4 years

7,224,000

0.79

The weighted average fair values of the options on the date of grant for the year ended February 29, 2016 and February 28, 2015 were $0.0 per share and nil per share, respectively.

Warrants

Activity in issued and outstanding warrants is as follows:

	Number of Shares			Exercise Prices

Outstanding, February 28, 2015		37,546,048		$	0.10-$1.50
Granted		-			-
Exercised		-			-
Expired		(1,919,840	)	$	0.75-$1.50
Outstanding, February 29, 2016		35,626,208		$	0.10-$1.50

The exercise prices for the warrants outstanding at February 29, 2016, and information relating to these warrants is as follows : 1,012

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	61 months	$	0.56	$	0.56	$	0.00
$	0.75		1,082,734		1,082,734	60 months	$	0.75	$	0.75	$	0.00
$	0.75		1,000,000		1,000,000	50 months	$	0.75	$	0.75	$	0.00
$	0.75-$1.00		5,990,275		5,990,275	45 months	$	0.77	$	0.77	$	0.00
$	1.00-$1.25		795,000		795,000	7 months	$	1.05	$	1.05	$	0.00
$	1.00		8,272,187		8,272,187	5 months	$	1.00	$	1.00	$	0.00
$	1.50		105,000		105,000	1 months	$	1.50	$	1.50	$	0.00

			35,626,208		3,5262,208