Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of fair value of the stock options granted Black-Scholes option valuation model

The risk-free interest rate was selected based upon yields of the U.S. Treasury issues with a term equal to the expected life of the option being valued:

 

    February 28, 2017   February 29, 2016  
               
Dividend yield     0.00%     0.00%  
Expected Volatility     59.00-70.90%     59.00%  
Weighted-average volatility          
Expected dividends          
Expected term (in years)     5 Years     5 Years  
Risk-free rate     2.17-2.48%     2.17%  
Schedule of stock option plan

The following table summarizes the status of the Company’s stock option plan:

 

    February 28, 2017   February 29, 2016  
    Shares   Weighted
Average
Exercise
Price
  Shares   Weighted
Average
Exercise
Price
 
                   
Outstanding at March 1     1,060,000   $ 0.37       $  
Granted     500,000   $ 0.41     1,155,000   $ 0.37  
Exercised       $       $  
Forfeited     215,000   $ 0.36     95,000   $ 0.36  
Outstanding at February     1,345,000   $ 0.39     1,060,000   $ 0.37  
Options exercisable at February       $       $  
Weighted average fair value of options granted during the period       $       $  
Stock-based compensation expense       $ 115,828       $ 50,413  
Schedule of information pertaining to options outstanding

The following table presents information pertaining to options outstanding at February 28, 2017:

 

Range of Exercise Price   Number
Outstanding
  Weighted
Average
Remaining
Contractual
Life
  Weighted
Average
Exercise
Price
  Number
Exercisable
  Weighted
Average
Exercise
Price
 
                           
$0.36 - $0.41   1,345,000   5 years   $ 0.39   500,000   $ 0.38