10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS

12 Months Ended

Feb. 28, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

10.	CAPITAL STOCK, STOCK OPTIONS AND WARRANTS

The Board of Directors adopted the 2002 Incentive Stock Option Plan (the “2002 Plan”) in June of 2002. The 2002 Plan also authorized us to grant up to 1,000,000 stock options.

Options granted under the 2002 Plan vest at date of grant and are exercisable up to ten years from the date of grant. The exercise price on options granted is equal to the market price at the date of grant. Options outstanding at February 28, 2017 expire in December 2019.

A summary of the status of our 2002 Plan as of February 28, 2017 and February 29, 2016, and changes during the years then ended is presented below:

	February 28 (29),
	2017				2016
			Weighted				Weighted
			Average				Average
			Exercise				Exercise
	Shares		Price		Shares		Price
Outstanding at
Beginning of Year		10,000	$	5.25		10,000	$	5.25
Exercised		-		-		-		-
Expired		-		-		-		-

Outstanding at End of Year		10,000	$	5.25		10,000	$	5.25

At February 28, 2017, all options outstanding are exercisable with an aggregate intrinsic value of $43,000 and weighted-average remaining contractual terms of options outstanding of 2.8 years.