XML 26 R16.htm IDEA: XBRL DOCUMENT

Going Concern	12 Months Ended
Feb. 28, 2019
Going Concern [Abstract]
GOING CONCERN	NOTE 10 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. During the years ended February 28, 2019 and February 28, 2018, the Company incurred losses of $4,456,401 and had income of $1,700,649, respectively, and had negative cash flows from operating activities of $2,465,299 and $2,809,484, respectively. If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether. Substantial additional capital resources will be required to fund continuing expenditures related to our research, development, manufacturing and business development activities. The Company’s continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to retain its current financing, to obtain additional financing, and ultimately to attain profitability. During the next twelve months we intend to continue to attempt to restart the Company’s operations and focus on the sale of our AuraGen^® products both domestically and internationally and to hire a new management team. In addition, we plan to locate to a new facility for operations, as well as, rebuild the engineering and sales teams as well as utilizing third party contractors to support the operation. We anticipate being able to obtain new sources of funding to support these actions in the upcoming fiscal year.

Going Concern

12 Months Ended

Feb. 28, 2019

NOTE 10 – GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. During the years ended February 28, 2019 and February 28, 2018, the Company incurred losses of $4,456,401 and had income of $1,700,649, respectively, and had negative cash flows from operating activities of $2,465,299 and $2,809,484, respectively.

If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether.

Substantial additional capital resources will be required to fund continuing expenditures related to our research, development, manufacturing and business development activities. The Company’s continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to retain its current financing, to obtain additional financing, and ultimately to attain profitability.

During the next twelve months we intend to continue to attempt to restart the Company’s operations and focus on the sale of our AuraGen^® products both domestically and internationally and to hire a new management team. In addition, we plan to locate to a new facility for operations, as well as, rebuild the engineering and sales teams as well as utilizing third party contractors to support the operation. We anticipate being able to obtain new sources of funding to support these actions in the upcoming fiscal year.