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Share-Based Payments | 12 Months Ended
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Feb. 28, 2019
Share-based Payment Arrangement [Abstract] |
Note 10. Share-Based Payments | Stock Options The following tables summarizes the continuity of the Company’s stock options during the years ended February 28, 2019 and 2018:
|  |  |  | 2019 |  |  |  | 2018
|  | Number of stock options |  | Weighted average exercise price |  | Number of stock options |  | Weighted average exercise price
| Outstanding, beginning of period |  |  |  | 2,374,581 |  |  | $ | 7.99 |  |  |  | 1,010,000 |  |  | $ | 0.96 |
| Granted |  |  |  | 39,902 |  |  |  | 9.67 |  |  |  | 2,310,000 |  |  |  | 9.23 |
| Exercised |  |  |  | (20,000 | ) |  |  | 0.80 |  |  |  | (245,034 | ) |  |  | 0.80 |
| Forfeited |  |  |  | (369,583 | ) |  |  | 11.49 |  |  |  | (620,385 | ) |  |  | 4.97 |
| Expired |  |  |  | (62,500 | ) |  |  | 4.80 |  |  |  | (80,000 | ) |  |  | 0.80 |
| Outstanding, end of period |  |  |  | 1,962,400 |  |  | $ | 7.53 |  |  |  | 2,374,581 |  |  | $ | 7.99 |
| Exercisable, end of period |  |  |  | 1,126,664 |  |  | $ | 7.72 |  |  |  | 841,249 |  |  | $ | 6.32 |
|  |  |  | 2019 |  |  |  | 2018
Exercise price |  | Number of stock options outstanding |  | Weighted average remaining life |  | Number of stock options outstanding |  | Weighted average remaining life
$ | 0.80 |  |  |  | 582,081 |  |  |  | 6.76 |  |  |  | 602,081 |  |  |  | 7.75 |
$ | 3.00 |  |  |  | — |  |  |  | — |  |  |  | 12,500 |  |  |  | 0.25 |
$ | 5.25 |  |  |  | 380,000 |  |  |  | 8.50 |  |  |  | 530,000 |  |  |  | 9.49 |
$ | 8.75 |  |  |  | 26,693 |  |  |  | 10.0 |  |  |  | — |  |  |  | — |
$ | 11.52 |  |  |  | 13,209 |  |  |  | 9.36 |  |  |  | — |  |  |  | — |
$ | 12.00 |  |  |  | 700,000 |  |  |  | 8.54 |  |  |  | 700,000 |  |  |  | 9.54 |
$ | 13.49 |  |  |  | 193,750 |  |  |  | 0.17 |  |  |  | 250,000 |  |  |  | 9.63 |
$ | 13.89 |  |  |  | 66,667 |  |  |  | 0.01 |  |  |  | 280,000 |  |  |  | 9.69 |
| Outstanding, end of period |  |  |  | 1,962,400 |  |  |  | 6.91 |  |  |  | 2,374,581 |  |  |  | 9.05 |
| Exercisable, end of period |  |  |  | 1,126,664 |  |  |  | 5.99 |  |  |  | 841,249 |  |  |  | 7.67 |
The Company applies the fair value method of accounting for stock-based compensation awards granted. Fair value is calculated based on a Black-Scholes option pricing model. The principal components of the pricing model were as follows:
|  | 2019 |  | 2018 |  | 2017
Exercise price |  |  | $ 8.75 to 11.52 |  |  |  | $ 5.25 to 13.89 |  |  | $ | 3.00 |
Risk-free interest rate |  |  | 2.70% to 2.82% |  |  |  | 1.46 to 2.15% |  |  |  | 0.91 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 78 | % |  |  | 80% to 94% |  |  |  | 122 | %
Expected life |  |  | 6.5 to 7 years |  |  |  | 3 to 6 years |  |  |  | 2 years |
During the year ended February 28, 2019, stock-based compensation expense attributable to stock options amounted to $3,176,786 (2018 - $6,281,319; 2017 - $135,673) and is included in operating expenses. Restricted Stock Units The following table summarizes the continuity of the restricted stock units (“RSUs”) during the years ended February 28, 2019 and 2018:
|  |  |  | 2019 |  |  |  | 2018
|  | Number of units |  | Weighted average fair value price |  | Number of units |  | Weighted average fair value price
| Outstanding, beginning of period |  |  |  | 34,102 |  |  | $ | 13.00 |  |  |  | — |  |  | $ | — |
| Granted |  |  |  | 406,188 |  |  |  | 8.80 |  |  |  | 34,102 |  |  |  | 13.00 |
| Vested |  |  |  | (35,797 | ) |  |  | 13.06 |  |  |  | — |  |  |  | — |
| Forfeited |  |  |  | (1,625 | ) |  |  | 12.31 |  |  |  | — |  |  |  | — |
| Outstanding, end of period |  |  |  | 402,868 |  |  | $ | 8.77 |  |  |  | 34,102 |  |  | $ | 13.00 |
The Company applies the fair value method of accounting for awards granted through the issuance of restricted stock units. Fair value is calculated based on closing share price at grant date multiplied by the number of restricted stock unit awards granted. During the year ended February 28, 2019, stock-based compensation attributable to RSUs amounted to $808,374 (2018 - $265,994; 2017 – nil) and is included in operating expenses.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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