Seychelle Environmental (SYEV) 10-Q 14 Jan 15 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 30, 2014	Jan. 14, 2015
Document And Entity Information
Entity Registrant Name	SEYCHELLE ENVIRONMENTAL TECHNOLOGIES INC /CA
Entity Central Index Key	1056757
Document Type	10-Q
Document Period End Date	30-Nov-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-26
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		25,913,646
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Nov. 30, 2014	Feb. 28, 2014
ASSETS
Cash and cash equivalents	$2,010,609	$2,971,825
Accounts receivable, net of allowance for doubtful accounts and sales returns of $13,300 and $3,400, respectively	319,150	316,358
Related party receivable	8,726	14,323
Inventory, net	1,050,442	990,253
Deferred tax assets	463,205	61,359
Prepaid expenses, deposits, and other current assets	173,526	101,231
Total current assets	4,025,658	4,455,349
Property and equipment, net	169,799	171,013
Intangible assets, net	153,076	3,943
Deferred tax assets	433,874	433,874
Other assets	24,481	13,514
Total assets	4,806,888	5,077,693
Current Liabilities:
Accounts payable and accrued expenses	246,771	171,643
Customer deposits	242,485	199,572
Capital lease obligations	5,633	5,030
Total current liabilities	494,889	376,245
Long term Liabilities:
Capital lease obligation, net of current	5,474	8,894
Total liabilities	500,363	385,139
STOCKHOLDERS' EQUITY
Preferred stock, 6,000,000 shares authorized, none issued or outstanding
Common stock $0.001 par value, 50,000,000 shares authorized, 25,913,646 and 25,853,646 issued and outstanding at November 30, 2014 and February 28, 2014, respectively	25,914	25,854
Additional paid-in capital	8,369,428	8,067,163
Accumulated deficit	-4,088,817	-3,400,463
Total Stockholders' Equity	4,306,525	4,692,554
Total liabilities and stockholders' equity	$4,806,888	$5,077,693

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Nov. 30, 2014	Feb. 28, 2014
CURRENT ASSETS
Net of allowance for doubtful accounts	$13,300	$3,400
STOCKHOLDERS' EQUITY
Preferred stock, authorized shares	6,000,000	6,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$0.00	$0.00
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	25,913,646	25,853,646
Common stock, outstanding shares	25,913,646	25,853,646

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Condensed Consolidated Statements Of Income
Sales	$1,287,814	$1,197,653	$3,162,328	$3,860,657
Cost of sales	724,997	620,324	1,730,478	1,986,150
Gross profit	562,817	577,329	1,431,850	1,874,507
OPERATING EXPENSES
Selling, General, and Administrative Expenses	995,161	393,278	2,488,457	1,242,895
Depreciation and Amortization	16,827	13,893	46,402	40,823
Total operating expenses	1,011,988	407,171	2,534,859	1,283,718
Income (Loss) from Operations	-449,171	170,158	-1,103,009	590,789
OTHER INCOME (EXPENSE)
Interest income	947	1,089	3,718	1,603
Interest expense	-401	-242	-849	-1,108
Other income	7,201	-1	9,740	53,680
Total other income	7,747	846	12,609	54,175
Income (loss) before provision for income taxes	-441,424	171,004	-1,090,400	644,964
Income tax benefit (expense)	158,386	26,411	402,046	-164,461
Net Income (Loss)	($283,038)	$197,415	($688,354)	$480,503
BASIC INCOME (LOSS) PER SHARE	($0.01)	$0.01	($0.03)	$0.02
DILUTED INCOME (LOSS) PER SHARE	($0.01)	$0.01	($0.03)	$0.02
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	25,913,206	25,853,646	25,898,446	25,848,628
DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	25,913,206	29,661,931	25,898,446	27,533,658

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
OPERATING ACTIVITIES:
Net income (loss)	($688,354)	$480,503
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	46,402	40,823
Stock-based compensation	302,325	267,290
Gain from sale of property and equipment		-124
Provision for doubtful accounts	9,900	-114,591
Decrease in inventory reserve		-48,509
Deferred tax benefit	-401,846	-100,000
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	-12,692	226,416
Decrease in related party receivable	5,597
Increase in inventory	-60,189	-359,093
Increase in prepaid expenses, deposits and other assets	-83,262	-58,821
Increase in accounts payable and accrued expenses	75,128	63,245
Increase in income taxes payable		235,771
Increase (decrease) in customer deposits	42,913	-85,305
Net Cash Provided By (Used In) Operating Activities	-764,078	547,605
INVESTING ACTIVITIES:
Purchase of property and equipment	-43,887	-29,359
Proceeds from sale of property and equipment		1,250
Purchase of intangible assets	-150,434	-1,424
Net Cash Provided By (Used In) Investing Activities	-194,321	-29,533
FINANCING ACTIVITIES:
Repayment of notes payable and capital lease obligations	-2,817	-3,073
Net Cash Used in Financing Activities	-2,817	-3,073
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	-961,216	514,999
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	2,971,825	2,234,545
CASH AND CASH EQUIVALENTS AT END OF PERIOD	2,010,609	2,749,544
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest	849	1,108
Income taxes

1_CONDENSED_FINANCIAL_STATEMEN

1. CONDENSED FINANCIAL STATEMENTS	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
CONDENSED FINANCIAL STATEMENTS	NOTE 1:    CONDENSED FINANCIAL STATEMENTS
	The accompanying condensed consolidated financial statements have been prepared by Seychelle Environmental Technologies, Inc., and subsidiaries (the “Company”) without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at November 30, 2014, and for all periods presented herein, have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2014.  The results of operations for the periods ended November 30, 2014 and 2013 are not necessarily indicative of the operating results for the full fiscal years.
	The summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The consolidated financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of these condensed consolidated financial statements and the February 28, 2014 consolidated financials included in the 10-K filed on May 23, 2014.
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.

2_BASIC_INCOME_LOSS_PER_SHARE

2. BASIC INCOME (LOSS) PER SHARE	9 Months Ended
	Nov. 30, 2014
Accounting Policies [Abstract]
2 BASIC INCOME (LOSS) PER SHARE	NOTE 2:    BASIC INCOME (LOSS) PER SHARE
	Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period presented.  Diluted income (loss) per share is determined using the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents.  In periods when losses are reported, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.  The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method.
	The denominator for diluted income (loss) per share for the three and nine month periods ended November 30, 2014 did not include warrants as they would have been anti-dilutive.  During the three and nine months ended November 30, 2014, 4,677,123 and  6,305,415  warrants, respectively, were excluded from diluted income (loss) per share as their inclusion would be anti-dilutive. The denominator for diluted income per share for the three and  nine month periods ended November 30, 2013 is adjusted to include the effect of warrants totaling  3,808,285 and 1,685,030, respectively.
		For the nine months ended
		November 30,
		2014			2013
	Numerator:
	Net Income (Loss) available to common shareholders	$	(688,354	)	$	480,503
	Weighted average shares – basic		25,898,446			25,848,628
	Net income (loss) per share – basic	$	(0.03	)	$	0.02
	Dilutive effect of common stock equivalents:
	Warrants		-			1,685,030
	Weighted average shares – diluted		25,898,446			27,533,658
	Net income (loss) per share – diluted	$	(0.03	)	$	0.02
		For the three months ended
		November 30,
		2014			2013
	Numerator:
	Net Income (Loss) available to common shareholders	$	(283,038	)	$	197,415
	Weighted average shares – basic		25,913,206			25,853,646
	Net income per share – basic	$	(0.01	)	$	0.01
	Dilutive effect of common stock equivalents:
	Warrants		-			3,808,285
	Weighted average shares – diluted		25,913,206			29,661,931
	Net income  per share – diluted	$	(0.01	)	$	0.01

3_COMMON_STOCK_PURCHASE_WARRAN

3. COMMON STOCK PURCHASE WARRANTS

9 Months Ended

Nov. 30, 2014

Notes to Financial Statements

COMMON STOCK PURCHASE WARRANTS

NOTE 3:   COMMON STOCK PURCHASE WARRANTS

Common Stock

During the nine month period ended November 30, 2014, 60,000 shares of restricted stock were issued by the Company to employees. 50,000 shares vest over a two year period, with 17,000 shares vested upon issue, with 17,000 and 16,000 after one and two years, respectively. The other 10,000 shares were fully vested upon issuance. The value recorded in the accompanying condensed consolidated financial statements was based on the estimated fair value of the stock on the date of the grant and aggregated $3,800.

During the nine months ended November 30, 2013, the Company issued 20,000 shares of restricted common stock for services rendered valued at $4,600. All shares of restricted stock were fully vested upon issuance, but not able to be traded on the open market upon issuance. The values recorded were based on the estimated fair value of the stock on the date of grant.

Warrants

The Company has determined the estimated value of warrants granted using the Black-Scholes option pricing model. The amount of the expense charged to operations for warrants was $88,175 and $264,525 for the three and nine month periods ended November 30, 2014, respectively, and $88,490 and $262,690 for the three and nine month periods ended November 30, 2013, respectively.  All outstanding warrants are expected to be vested in December 2015.

A summary of warrant activity for the nine months ended November 30, 2014 is as follows:

Weighted-

Average

Warrants

Exercise

Outstanding

Price

Outstanding at February 28, 2014

8,407,221

0.21

Granted

-

-

Exercised

-

-

Forfeited

-

0.21

Outstanding at November 30, 2014

8,407,221

0.21

Vested at November 30, 2014

6,305,415

0.21

Exercisable at November 30, 2014

6,305,415

0.21

The following table summarizes significant ranges of outstanding warrants as of November 30, 2014:

Warrants Outstanding

Warrants Exercisable

Weighted

Weighted

Weighted

Average

Average

Average

Exercise Price

Number

Remaining

Exercise

Number

Exercise

Outstanding

Life (Years)

Price

Outstanding

Price

$

0.21

8,407,221

6.04

$

0.21

6,305,415

$

0.21

4_INVENTORY

4. INVENTORY	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
INVENTORY	NOTE 4:    INVENTORY
	The Company’s inventory consisted of the following at November 30, 2014 and February 28, 2014:
		November 30,			February 28,
		2014			2014
	Raw materials	$	629,408		$	559,946
	Finished goods		456,034			465,307
			1,085,442			1,025,253
	Reserve for obsolete and slow moving inventory		(35,000	)		(35,000	)
		$	1,050,442		$	990,253

5_LINE_OF_CREDIT

5. LINE OF CREDIT	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
LINE OF CREDIT	NOTE 5:    LINE OF CREDIT
	As of November 30, 2014, the Company had a line of credit agreement totaling $500,000, with no outstanding borrowings as of November 30, 2014.  The line expires on September 1, 2015.

6_CONCENTRATIONS

6. CONCENTRATIONS	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
CONCENTRATIONS	NOTE 6:    CONCENTRATIONS
	Sales to three customers accounted for 63% and 61% of sales for the three and nine month periods ended November 30, 2014, respectively. Accounts receivable from these three customers amounted to $233,000 or 70% of accounts receivable as of November 30, 2014.
	Sales to two customers accounted for 55% and 47% of the three and nine month periods ended November 30, 2013, respectively.  Accounts receivable from three customers amounted to approximately 80% of accounts receivable at November 30, 2013.

7_RELATED_PARTY_TRANSACTIONS

7. RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
RELATED PARTY TRANSACTIONS	NOTE 7:    RELATED PARTY TRANSACTIONS
	During the three month periods ended November, 2014 and 2013, payments totaling $103,250 and $20,000, respectively, and during the nine month periods ended November 30, 2014 and 2013, payments totaling $177,250 and $100,200, respectively, were made to TAM Irrevocable Trust (“TAM”) for consulting services, in which Cari Beck, is a trustee as well as the daughter of the Company’s President.
	During the nine month period ending November 30, 2014, the Company paid $150,000 to TAM for purchase of intellectual property retained by TAM when the Company was organized in 1998.

8_COMMITMENTS_AND_CONTINGENCIE

8. COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
COMMITMENTS AND CONTINGENCIES	NOTE 8:  COMMITMENTS AND CONTINGENCIES
	The Company previously reported that it was involved in a case titled Letty Garcia v. Carl Palmer, Seychelle Environmental Technologies, Inc., et. al. brought in the Superior Court for the State of California, San Diego County District. This case has been transferred to the Orange County Superior Court for the State of California with additional hearings scheduled during the fourth quarter. We anticipate that it will be resolved this fiscal year and believe that Seychelle will prevail.
	In January 2012, the Company entered into a contract with a distributor in which it granted exclusive distribution rights for certain new product lines. Subsequently, there was a contract dispute that has resulted in a lawsuit titled Archette Wellness Group, dba Functional Water Technologies v. Seychelle Environmental Technologies , brought in the U.S. District Court, for the Central District of California, Southern Division. The Company believes it will prevail in this matter.
	Otherwise, as of November 30, 2014, we know of no other legal proceedings pending or threatened, or judgments entered against the Company or any of its directors or officers in their capacity as such.

9_SUBSEQUENT_EVENTS

9. SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2014
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9: SUBSEQUENT EVENTS
	On December 2, 2014, a prepayment totaling $50,000 was made to TAM for consulting services to be provided during the three months ending February 28, 2015.
	On December 10, 2014, our bank notified us that our line of credit discussed in Note 5 of the accompanying condensed consolidated financial statement would no longer be accessible by us.  This situation is not material to our operations.  However, we plan to request that our bank restore out line of credit as soon as we return to a net profit position for at least one fiscal quarter.

2_BASIC_INCOME_LOSS_PER_SHARE_

2 BASIC INCOME (LOSS) PER SHARE (Tables)	3 Months Ended						9 Months Ended
	Nov. 30, 2014						Nov. 30, 2014
Accounting Policies [Abstract]
Basic income (loss) per share for nine months								For the nine months ended
								November 30,
								2014			2013
							Numerator:
							Net Income (Loss) available to common shareholders	$	(688,354	)	$	480,503
							Weighted average shares – basic		25,898,446			25,848,628
							Net income (loss) per share – basic	$	(0.03	)	$	0.02
							Dilutive effect of common stock equivalents:
							Warrants		-			1,685,030
							Weighted average shares – diluted		25,898,446			27,533,658
							Net income (loss) per share – diluted	$	(0.03	)	$	0.02
Basic income (loss) per share for 3 months		For the three months ended
		November 30,
		2014			2013
	Numerator:
	Net Income (Loss) available to common shareholders	$	(283,038	)	$	197,415
	Weighted average shares – basic		25,913,206			25,853,646
	Net income per share – basic	$	(0.01	)	$	0.01
	Dilutive effect of common stock equivalents:
	Warrants		-			3,808,285
	Weighted average shares – diluted		25,913,206			29,661,931
	Net income  per share – diluted	$	(0.01	)	$	0.01

3_COMMON_STOCK_PURCHASE_WARRAN1

3. COMMON STOCK PURCHASE WARRANTS (Tables)

9 Months Ended

Nov. 30, 2014

Common Stock Purchase Warrants Tables

Summary of warrant activity

Weighted-

Average

Warrants

Exercise

Outstanding

Price

Outstanding at February 28, 2014

8,407,221

0.21

Granted

-

-

Exercised

-

-

Forfeited

-

0.21

Outstanding at November 30, 2014

8,407,221

0.21

Vested at November 30, 2014

6,305,415

0.21

Exercisable at November 30, 2014

6,305,415

0.21

Significant ranges of outstanding warrants

The following table summarizes significant ranges of outstanding warrants as of November 30, 2014:

Warrants Outstanding

Warrants Exercisable

Weighted

Weighted

Weighted

Average

Average

Average

Exercise Price

Number

Remaining

Exercise

Number

Exercise

Outstanding

Life (Years)

Price

Outstanding

Price

$

0.21

8,407,221

6.04

$

0.21

6,305,415

$

0.21

4_INVENTORY_Tables

4. INVENTORY (Tables)	9 Months Ended
	Nov. 30, 2014
Inventory Tables
Inventory	The Company’s inventory consisted of the following at November 30, 2013 and February 28, 2013:
		November 30,		February 28,
		2013		2013
	Raw materials	$	649,020	$	336,966
	Finished goods		223,580		176,541
			872,600		513,507
	Reserve for obsolete and slow moving inventory		-		(48,509	)
		$	872,600	$	464,998

3_COMMON_STOCK_PURCHASE_WARRAN2

3. COMMON STOCK PURCHASE WARRANTS (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Common Stock Purchase Warrants Details
Warrants Outstanding at February 28, 2014	8,407,221
Warrants, Granted
Warrants, Exercised
Warrants, Forfeited	-30,000
Outstanding at November 30, 2013	8,407,221
Vested at November 30, 2013	6,305,415
Exercisable at November 30, 2013	6,305,415
Warrants Weighted Average Exercise Price per Share, Forfeited	$0.21
Warrants Weighted Average Exercise Price per Share, Outstanding at November 30, 2013	$0.21
Weighted Average Exercise Price Warrants Vested at November 30, 2013	$0.21
Weighted Average Exercise Price Warrants Exercisable at November 30, 2013	$0.21
Weighted Average Remaining Life (Years)	6 years 3 months 1 day

4_INVENTORY_Details

4. INVENTORY (Details) (USD $)	Nov. 30, 2014	Feb. 28, 2014
Inventory Details
Raw materials	$629,408	$559,946
Finished goods	456,034	465,307
Inventory	1,085,442	1,025,253
Reserve for obsolete and slow moving inventory	-35,000	-35,000
Inventory, Net	$1,050,442	$990,253

3_COMMON_STOCK_PURCHASE_WARRAN3

3. COMMON STOCK PURCHASE WARRANTS (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Common Stock Purchase Warrants Details Narrative
Restricted shares issued during period	60,000
Estimated fair value of restricted shares issued during period	$3,800
Restricted shares issued during period for services			20,000
Estimated fair value on the date of the grant of restricted shares issued during period for services			4,600
Expense charged to operations for warrants	$88,175	$88,490	$264,525	$262,690

5_LINE_OF_CREDIT_Details_Narra

5. LINE OF CREDIT (Details Narrative) (USD $)	9 Months Ended
	Nov. 30, 2014
Line Of Credit Details Narrative
Available Line of Credit	$500,000
Company borrowings against line of credit	$0
Expiration of line of credit	30-Sep-15

6_CONCENTRATIONS_Details_Narra

6. CONCENTRATIONS (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Concentrations Details Narrative
Percentage of sales to three customers	63.00%		61.00%
Accounts receivable attributable to Sales to three customers	$233,000
Percentage of accounts recievable for period from three customers	70.00%	80.00%	70.00%	80.00%
Percentage accounts receivable attributable to Sales to two customers		55.00%		47.00%

7_RELATED_PARTY_TRANSACTIONS_D

7. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Related Party Transactions Details Narrative
Payments to Irrevocable Trust for consulting services in which Cari Beck is a trustee as well as the daughter of the Company's President	$103,250	$20,000	$177,250	$100,200
Payment to TAM for intellectual property			$150,000

2_BASIC_INCOME_LOSS_PER_SHARE_1

2. BASIC INCOME (LOSS) PER SHARE (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Numerator:
Net Income (Loss) available to common shareholders	($283,038)	$197,415	($688,354)	$480,503
Weighted average shares, basic	25,913,206	25,853,646	25,898,446	25,848,628
Net income (loss) per share, basic	($0.01)	$0.01	($0.03)	$0.02
Dilutive effect of common stock equivalents:
Warrants		3,808,285		1,685,030
Weighted average shares, diluted	25,913,206	29,661,931	25,898,446	27,533,658
Net income (loss) per share, diluted	($0.01)	$0.01	($0.03)	$0.02

2_BASIC_INCOME_LOSS_PER_SHARE_2

2 BASIC INCOME (LOSS) PER SHARE (Details Narrative)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Accounting Policies [Abstract]
Warrants excluded from diluted income (loss) per share	4,677,123		6,305,415
Effect of warrants		3,808,285		1,685,030

9_SUBSEQUENT_EVENTS_Details_Na

9. SUBSEQUENT EVENTS (Details Narrative) (USD $)	Dec. 02, 2014	Nov. 30, 2014	Feb. 28, 2014
Subsequent Events [Abstract]
Payment of $50,000 to TAM for consulting services to be provided during the three months ending February 28, 2015	$50,000	$173,526	$101,231