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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Aug. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of fair value assumptions | The fair value of each award is estimated on the grant date using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in the six months ended August 31, 2016.
|  | August 31, |
|  | 2016 |  | 2015 |
Dividend yield |  |  | 0.00% |  |  | — |
Expected Volatility |  |  | 59.00% |  |  | — |
Weighted-average volatility |  |  | — |  |  | — |
Expected dividends |  |  | — |  |  | — |
Expected term (in years) |  |  | 5 Years |  |  | — |
Risk-free rate |  |  | 2.17% |  |  | — |
Schedule of stock option plan | The following table summarizes the status of the Company’s stock option plan:
|  | Six Months Ended August 31, |
|  | 2016 |  | 2015 |
|  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |
Outstanding at March 1 |  |  | 1,060,000 |  | $ | 0.36 - 0.38 |  |  | — |  | $ | — |
Granted |  |  | — |  | $ | — |  |  | — |  | $ | — |
Exercised |  |  | — |  | $ | — |  |  | — |  | $ | — |
Forfeited |  |  | 95,000 |  | $ | 0.36 - 0.38 |  |  | — |  | $ | — |
Outstanding at August 31, 2016, |  |  | 965,000 |  | $ | 0.36 - 0.38 |  |  | — |  | $ | — |
Options exercisable at August 31, |  |  | — |  | $ | — |  |  | — |  | $ | — |
Weighted average fair value of options granted during the period |  |  | — |  | $ | — |  |  | — |  | $ | — |
Stock-based compensation expense |  |  | — |  | $ | 75,084 |  |  | — |  | $ | — |
Schedule of information pertaining to options outstanding | The following table presents information pertaining to options outstanding at August 31, 2016:
Range of Exercise Price |  | Number Outstanding |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price |
$0.36 - $0.38 |  | 965,000 |  | 5 years |  | $ | 0.37 |  | — |  | $ | — |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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