Document and Entity Information
Document and Entity Information | 9 Months Ended |
Nov. 30, 2015shares | |
Document and Entity Information: | |
Entity Registrant Name | STRONGBOW RESOURCES INC. |
Document Type | 10-Q |
Document Period End Date | Nov. 30, 2015 |
Trading Symbol | stbr |
Amendment Flag | false |
Entity Central Index Key | 1,382,231 |
Current Fiscal Year End Date | --02-29 |
Entity Common Stock, Shares Outstanding | 29,904,046 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q3 |
STRONGBOW RESOURCES INC - Balan
STRONGBOW RESOURCES INC - Balance Sheets - USD ($) | Nov. 30, 2015 | Feb. 28, 2015 | |
Current Assets: | |||
Cash | $ 638 | $ 26,858 | |
Receivable | 2,528 | 4,680 | |
Prepaid expense and other | 39,530 | 72,578 | |
Total Current Assets | 42,696 | 104,116 | |
Deposit | 32,594 | ||
Equipment | 58,840 | 65,421 | |
Oil and gas properties, full cost method | 575,763 | 587,770 | |
Total Assets | 709,893 | 757,307 | |
Current liabilities: | |||
Accounts payable | 588,138 | 558,591 | |
Accrued liabilities | 74,890 | 35,937 | |
Due to related parties | 298,021 | 130,884 | |
Note payable | 18,723 | 19,965 | |
Derivative financial liabilities | 29,856 | 379,463 | |
Total Current Liabilities | 1,009,628 | 1,124,840 | |
Asset retirement obligation | 21,688 | 21,515 | |
Total Liabilities | 1,031,316 | 1,146,355 | |
Stockholders' Deficit: | |||
Capital stock | [1] | 21,794 | 21,772 |
Additional paid-in capital | 3,077,552 | 2,962,947 | |
Obligation to issue shares | 13,125 | ||
Accumulated other comprehensive loss | (102,726) | (123,371) | |
Deficit accumulated during development stage | (3,331,168) | (3,250,396) | |
Total Stockholders' Equity (Deficit) | (321,423) | (389,048) | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 709,893 | $ 757,307 | |
[1] | $0.001 par value; 750,000,000 shares authorized; 29,904,046 and 29,881,824 shares issued and outstanding at November 30, 2015 and February 28, 2015, respectively. |
Statement of Financial Position
Statement of Financial Position - Parenthetical - $ / shares | Nov. 30, 2015 | Feb. 28, 2015 |
Statement of Financial Position | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares Issued | 29,904,046 | 29,881,824 |
Common Stock, Shares Outstanding | 29,904,046 | 29,881,824 |
STRONGBOW RESOURCES INC. - Stat
STRONGBOW RESOURCES INC. - Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | Nov. 30, 2014 | |
General and administrative expenses | ||||
Accretion | $ 509 | $ 1,578 | ||
Consulting | 11,530 | $ 39,662 | 39,373 | $ 69,885 |
Depreciation | 843 | 914 | 2,619 | 2,514 |
Management fees | 22,665 | 25,503 | 70,353 | 80,487 |
Office, travel and general (recovery) | 25,278 | (6,120) | 70,649 | 24,968 |
Professional fees | 7,012 | 30,799 | 56,315 | 82,817 |
Salaries and benefits | 24,600 | 83,846 | ||
Stock-based compensation | 107,021 | 107,021 | ||
Loss from operations | (199,458) | (90,758) | (431,754) | (260,671) |
Gain on settlement of debt | 133,347 | 187,134 | ||
Interest income | 62 | 65 | 164 | 93 |
Gain (loss) on fair value adjustment of derivative financial liabilities | (529) | 65,800 | 350,818 | 65,800 |
Loss on settlement of notes payable | (62,280) | (62,280) | ||
Net income (loss) | (199,925) | 46,174 | (80,772) | (69,924) |
Foreign currency translation | 8,912 | (640) | 20,645 | (37,553) |
Comprehensive income (loss) | $ (191,013) | $ 45,534 | $ (60,127) | $ (107,477) |
Basic and diluted income (loss) per share | $ (0.01) | $ 0 | $ 0 | $ 0 |
Weighted average number of basic common shares outstanding | 29,904,046 | 29,569,905 | 29,890,874 | 28,929,868 |
STRONGBOW RESOURCES INC. - Sta5
STRONGBOW RESOURCES INC. - Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | |
Nov. 30, 2015 | Nov. 30, 2015 | Nov. 30, 2014 | |
Cash flows used in operating activities: | |||
Net income (loss) | $ (199,925) | $ (80,772) | $ (69,924) |
Non-cash items: | |||
Accretion | 509 | 1,578 | |
Gain on settlement of debt | (187,134) | ||
Loss on settlement of notes payable | 62,280 | ||
Gain on fair value adjustment of derivative financial liabilities | (350,818) | (65,800) | |
Shares to be issued for salaries and benefits | 13,125 | ||
Depreciation | 843 | 2,619 | 2,514 |
Stock-based compensation | 107,021 | 107,021 | |
Changes in non-cash working capital items: | |||
Receivable | 2,152 | 1,702 | |
Prepaid expenses and deposit | 454 | (28,350) | |
Accounts payable and accrued liabilities | 99,939 | (59,462) | |
Cash used in operating activities | (204,702) | (344,174) | |
Cash flows used in investing activities: | |||
Expenditures on oil and gas properties | (15,466) | (130,082) | |
Expenditures on equipment | (9,131) | ||
Cash used in investing activities | (15,466) | (139,213) | |
Cash flows from financing activities: | |||
Common stock issued for cash | 7,606 | 756,657 | |
Advances to note receivable | (25,000) | ||
Repayments of advances and notes payable | (177,525) | ||
Net proceeds from (to) related parties | 182,959 | (88,402) | |
Cash provided by financing activities | 190,565 | 465,730 | |
Effect of foreign exchange | 3,383 | 42,082 | |
Change in cash | (26,220) | 24,425 | |
Cash, beginning of period | 26,858 | 43,137 | |
Cash, end of period | $ 638 | 638 | 67,562 |
Non-cash transactions | |||
Accrued expenditures on oil and gas properties | $ 10,182 | ||
Common stock issued as repayment of note payable | 376,923 | ||
Common stock issued as settlement of accounts payable | $ 128,828 |
1. Nature and Continuance of Op
1. Nature and Continuance of Operations | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
1. Nature and Continuance of Operations | 1. NATURE AND CONTINUANCE OF OPERATIONS Strongbow Resources Inc. (the Company) was incorporated in the State of Nevada on July 9, 2004. The Company focuses its business efforts on the acquisition, exploration, and development of oil and gas properties. The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As of November 30, 2015, the Company has not achieved profitable operations, has incurred losses in developing its business, and further losses are anticipated. The Company has an accumulated deficit of $3,331,168. As at November 30, 2015, one Statement of Claim totaling $210,640 (CAD$281,267) is outstanding against the Company and is recorded in accounts payable. In December 2015, the Company reached a settlement agreement with the vendor for a total of $149,784 (CAD$200,000) in eight equal monthly installments of $18,723 (CAD$25,000) starting February 1, 2016. Upon receipt of the final installment, the vendor will discontinue the claim and will provide a release to the Company (Note 10). The Companys ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and pay its liabilities when they come due. To date, the Company has funded operations through the issuance of capital stock and debt. Management plans to continue raising additional funds through equity or debt financings and loans from directors. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The ability of the Company to continue its operations as a going concern is dependent upon its ability to raise sufficient new capital to fund its operating commitments and ongoing losses and ultimately on generating profitable operations. The financial statements do not include any adjustments to be recorded assets or liabilities that might be necessary should the Company be unable to continue as a going concern. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
2. Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) for interim financial information and the rules and regulations of the Securities and Exchange Commission (SEC). They do not include all information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended February 28, 2015 included in the Companys Annual Report on Form 10-K filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements included in the 10-K report. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended November 30, 2015 are not necessarily indicative of the results that may be expected for the year ending February 28, 2016. Recent Accounting Pronouncements Recent pronouncements with future effective dates are either not applicable or are not expected to be significant to the financial statements of the Company. |
3. Oil and Gas Properties
3. Oil and Gas Properties | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
3. Oil and Gas Properties | 3. OIL AND GAS PROPERTIES Effective February 21, 2012, the Company entered into a Farmout Agreement (the Agreement) with Harvest Operations Corp. (Farmor). The Agreement provided for the Companys acquisition of an undivided 100% working interest (Working Interest) in a petroleum and natural gas license covering land located in the Compeer Area in the Province of Alberta, Canada (the Farmout Lands). To earn the Working Interest the Company was required to drill, complete, equip or abandon a test well on the Farmout Lands (Test Well). On March 14, 2012, the Company obtained operator status and was transferred the well license relating to the Test Well. The Companys Working Interest in the Farmout Lands will be held subject to a non-convertible overriding royalty payable to the Farmor (Farmors Royalty). The Farmors Royalty on net crude oil revenues will be measured on a sliding scale from 5% to 15% over a range of production volumes from 1 to 150 barrels per day. The Farmors Royalty on net gas and other petroleum product revenues is 15%. The Test Well was spudded on May 27, 2012, and on September 5, 2012, the Company received an earning notice granting the Company a 100% working interest in the Farmout Lands. During the year ended February 28, 2015, the Company estimated that the net present value of future cash flows from the property is $587,770 and recorded an impairment charge of $221,648. During the period ended November 30, 2015, net proceeds of $0 (November 30, 2014 - $10,198) were received from the sales of oil less direct costs of $5,683 (November 30, 2014 - $13,142) were added to the carrying value of the oil and gas properties. As of November 30, 2015, the Company has incurred $575,763 (February 28, 2015 - $587,770) in exploration costs to drill, complete and equip the Test Well, net of impairment charges in prior periods. |
4. Equipment
4. Equipment | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
4. Equipment | 4. EQUIPMENT November 30, 2015 Cost Accumulated Depreciation A. Oil and gas equipment $ 66,923 $ 8,083 $ 58,840 February 28, 2015 Cost Accumulated Depreciation B. Oil and gas equipment $ 71,364 $ 5,943 $ 65,421 |
5. Note Payable
5. Note Payable | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
5. Note Payable | 5. NOTE PAYABLE As at November 30, 2015, the Company had $18,723 (CAD$25,000) (February 28, 2015 - $19,965 (CAD$25,000)) in short term note obligations to an unrelated party. The note payable is unsecured, non-interest bearing and payable upon demand. |
6. Asset Retirement Obligation
6. Asset Retirement Obligation | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
6. Asset Retirement Obligation | 6. ASSET RETIREMENT OBLIGATION The Companys asset retirement obligation consists of reclamation and closure costs associated with the Test Well in the Farmout Lands. The asset retirement obligation was estimated based on the Companys understanding of its requirements to reclaim currently disturbed areas. Significant reclamation and closure activities include land rehabilitation, water, removal of building and well facilities and tailings reclamation. The undiscounted estimate of this liability was $37,445 (CAD$50,000) (February 28, 2015 - $39,930 (CAD$50,000)) reflecting payments commencing in 2024. This estimate was adjusted for an inflation rate of 2.00% and then discounted at a rate of 10.00% for a net present value of $21,688 (CAD$28,960) (February 28, 2015 - $21,515 (CAD$26,941)) as at November 30, 2015. |
7. Derivative Financial Liabili
7. Derivative Financial Liabilities | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
7. Derivative Financial Liabilities | 7. DERIVATIVE FINANCIAL LIABILITIES $ Balance, February 28, 2014 - Warrants issued 579,952 Fair value adjustment (200,489) Balance, February 28, 2015 379,463 Fair value adjustment ( 350,818 ) Effect of foreign exchange 1,211 Balance, November 30, 2015 29,856 The derivative liability consists of the fair value of share purchase warrants that were issued in unit private placements that have an exercise price in a currency other than the functional currency of the Company. The derivative liability is a non-cash liability as the Company will not be required to expend any cash. The fair value of the warrants was determined using the Black-Scholes option pricing model using the following weighted average market assumptions: November 30, 2015 February 28, 2015 Volatility 151 % 126 % Risk-free interest rate 0.81 % 0.79 % Expected life 1.69 years 2.44 years Dividend yield 0.00% 0.00% |
8. Share Capital
8. Share Capital | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
8. Share Capital | 8. SHARE CAPITAL In August 2015, the Company issued 22,222 shares for gross proceeds of $7,606 (CAD$10,000) in subscriptions for a private placement. In November 2015, the Company agreed to issue 125,000 shares to a former officer for an employment contract entered in April 2015. As at November 30, 2015, the Company has not issued the shares, hence, recorded obligation to issue shares of $13,125. Warrants A summary of the share purchase warrants outstanding and exercisable at November 30, 2015 is as follows: Exercise Price Number Outstanding Expiry Date $ 1.50 80,000 August 26, 2016 1.00 1,000,000 September 3, 2017 The weighted average exercise price is $1.04 and weighted average life of the warrants is 1.69 years. Stock Options In November 2015, the Company granted 2,600,000 stock options for a period of five years, valued at $0.04 per option for a total value of $107,021 calculated using the Black-Scholes option pricing model assuming a life expectancy of five years, a risk free rate of 1.59%, a forfeiture rate of 0%, and volatility of 168%. A summary of the stock options outstanding and exercisable at November 30, 2015 is as follows: Exercise Price Number Outstanding and Exercisable Expiry Date Aggregate Intrinsic Value $ $ 0.10 2,600,000 November 3, 2020 26,000 As at November 30, 2015, the remaining contractual life of the stock options outstanding was 4.33 years. The aggregate intrinsic value in the proceeding table represents the total intrinsic value, based on the Companys closing stock price of $0.11 per share as of November 30, 2015. |
9. Related Party Transactions
9. Related Party Transactions | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
9. Related Party Transactions | 9. RELATED PARTY TRANSACTIONS During the nine months ended November 30, 2015, the Company · · As at November 30, 2015, $36,000 (February 28, 2015 - $36,000) was owing to a former director and officer of the Company and has been included in accounts payable. The amounts are non-interest bearing and unsecured. Due to related parties consist of the following: November 30, 2015 February 28, 2015 $ $ Due to directors and officers of the Company 298,021 130,884 All of the Companys advances from related parties are non-interest bearing, unsecured, and payable upon demand. |
10. Subsequent Event
10. Subsequent Event | 9 Months Ended |
Nov. 30, 2015 | |
Notes | |
10. Subsequent Event | 10. SUBSEQUENT EVENT In December 2015, the Company reached a settlement agreement with the vendor to settle the claim of $210,640 (CAD$281,267) for a total of $149,784 (CAD$200,000) in eight equal monthly installments of $18,723 (CAD$25,000) starting February 1, 2016. Upon receipt of the final installment, the vendor will discontinue the claim and will provide a release to the Company. |
2. Summary of Significant Acc16
2. Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 9 Months Ended |
Nov. 30, 2015 | |
Policies | |
Basis of Presentation | Basis of Presentation The unaudited interim financial statements of the Company have been prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) for interim financial information and the rules and regulations of the Securities and Exchange Commission (SEC). They do not include all information and footnotes required by GAAP for complete financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended February 28, 2015 included in the Companys Annual Report on Form 10-K filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements included in the 10-K report. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended November 30, 2015 are not necessarily indicative of the results that may be expected for the year ending February 28, 2016. |
2. Summary of Significant Acc17
2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Nov. 30, 2015 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Recent pronouncements with future effective dates are either not applicable or are not expected to be significant to the financial statements of the Company. |
4. Equipment_ Property, Plant a
4. Equipment: Property, Plant and Equipment (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Property, Plant and Equipment | November 30, 2015 Cost Accumulated Depreciation A. Oil and gas equipment $ 66,923 $ 8,083 $ 58,840 February 28, 2015 Cost Accumulated Depreciation B. Oil and gas equipment $ 71,364 $ 5,943 $ 65,421 |
7. Derivative Financial Liabi19
7. Derivative Financial Liabilities: Schedule of Derivative Liabilities at Fair Value (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Derivative Liabilities at Fair Value | $ Balance, February 28, 2014 - Warrants issued 579,952 Fair value adjustment (200,489) Balance, February 28, 2015 379,463 Fair value adjustment ( 350,818 ) Effect of foreign exchange 1,211 Balance, November 30, 2015 29,856 |
7. Derivative Financial Liabi20
7. Derivative Financial Liabilities: Schedule of Fair Value Of Warrants and Dividends (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Fair Value Of Warrants and Dividends | November 30, 2015 February 28, 2015 Volatility 151 % 126 % Risk-free interest rate 0.81 % 0.79 % Expected life 1.69 years 2.44 years Dividend yield 0.00% 0.00% |
8. Share Capital_ A Summary of
8. Share Capital: A Summary of The Share Purchase Warrants Outstanding and Exercisable At November 30, 2015 Is As Follows (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
A Summary of The Share Purchase Warrants Outstanding and Exercisable At November 30, 2015 Is As Follows: | Exercise Price Number Outstanding Expiry Date $ 1.50 80,000 August 26, 2016 1.00 1,000,000 September 3, 2017 |
8. Share Capital_ A Summary o22
8. Share Capital: A Summary of The Stock Options Outstanding and Exercisable At November 30, 2015 Is As Follows (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
A Summary of The Stock Options Outstanding and Exercisable At November 30, 2015 Is As Follows: | Exercise Price Number Outstanding and Exercisable Expiry Date Aggregate Intrinsic Value $ $ 0.10 2,600,000 November 3, 2020 26,000 |
9. Related Party Transactions_
9. Related Party Transactions: Schedule of Related Party Transactions (Tables) | 9 Months Ended |
Nov. 30, 2015 | |
Tables/Schedules | |
Schedule of Related Party Transactions | November 30, 2015 February 28, 2015 $ $ Due to directors and officers of the Company 298,021 130,884 |
3. Oil and Gas Properties (Deta
3. Oil and Gas Properties (Details) | 9 Months Ended |
Nov. 30, 2015USD ($) | |
Details | |
Oil and Gas Revenue | $ 0 |
Cost of Goods Sold | 5,683 |
Exploration and Production Costs | $ 575,763 |
4. Equipment_ Property, Plant25
4. Equipment: Property, Plant and Equipment (Details) - USD ($) | Nov. 30, 2015 | Feb. 28, 2015 |
Cost | ||
Property, Plant and Equipment, Net | $ 66,923 | $ 71,364 |
Accumulated Depreciation | ||
Property, Plant and Equipment, Net | 8,083 | 5,943 |
Net Book Value | ||
Property, Plant and Equipment, Net | $ 58,840 | $ 65,421 |
5. Note Payable (Details)
5. Note Payable (Details) - USD ($) | Nov. 30, 2015 | Feb. 28, 2015 |
Details | ||
Notes and Loans Payable | $ 18,723 | $ 19,965 |
6. Asset Retirement Obligation
6. Asset Retirement Obligation (Details) - USD ($) | Nov. 30, 2015 | Feb. 28, 2015 |
Details | ||
Asset Retirement Obligations, Noncurrent | $ 21,688 | $ 21,515 |
7. Derivative Financial Liabi28
7. Derivative Financial Liabilities: Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | Nov. 30, 2014 | Feb. 28, 2014 | Feb. 28, 2015 | |
Details | ||||||
Derivative Asset, Fair Value, Gross Liability | $ 29,856 | $ 29,856 | $ 379,463 | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Issues | $ 579,952 | |||||
Gain (loss) on fair value adjustment of derivative financial liabilities | $ (529) | $ 65,800 | 350,818 | $ 65,800 | $ (200,489) | |
Effect of Exchange Rate on Cash | $ 1,211 |
7. Derivative Financial Liabi29
7. Derivative Financial Liabilities: Schedule of Fair Value Of Warrants and Dividends (Details) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2015 | Feb. 28, 2015 | |
Details | ||
Fair Value Assumptions, Expected Volatility Rate | 151.00% | 126.00% |
Fair Value Assumptions, Risk Free Interest Rate | 0.81% | 0.79% |
Expected Life | 1 year 8 months 8 days | 2 years 5 months 8 days |
Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
8. Share Capital_ A Summary o30
8. Share Capital: A Summary of The Share Purchase Warrants Outstanding and Exercisable At November 30, 2015 Is As Follows (Details) | 9 Months Ended |
Nov. 30, 2015$ / sharesshares | |
Warrant 1 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares | $ 1.50 |
Temporary Equity, Shares Outstanding | shares | 80,000 |
Expiry Date | Aug. 26, 2016 |
Warrant 2 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares | $ 1 |
Temporary Equity, Shares Outstanding | shares | 1,000,000 |
Expiry Date | Sep. 3, 2017 |
8. Share Capital_ A Summary o31
8. Share Capital: A Summary of The Stock Options Outstanding and Exercisable At November 30, 2015 Is As Follows (Details) | 9 Months Ended |
Nov. 30, 2015USD ($)$ / sharesshares | |
Details | |
Exercise Price | $ / shares | $ 0.10 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares | 2,600,000 |
Expiration Date | Nov. 3, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ | $ 26,000 |
9. Related Party Transactions (
9. Related Party Transactions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Nov. 30, 2015 | Nov. 30, 2014 | Nov. 30, 2015 | Nov. 30, 2014 | Feb. 28, 2015 | |
Details | |||||
Management fees | $ 22,665 | $ 25,503 | $ 70,353 | $ 80,487 | |
Consulting Fees | 3,713 | $ 7,646 | |||
Accounts Payable, Other, Current | $ 36,000 | $ 36,000 | $ 36,000 |
9. Related Party Transactions33
9. Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($) | Nov. 30, 2015 | Feb. 28, 2015 |
Details | ||
Due to related parties | $ 298,021 | $ 130,884 |
10. Subsequent Event (Details)
10. Subsequent Event (Details) | 9 Months Ended |
Nov. 30, 2015USD ($) | |
Details | |
Settlement Agreement | $ 210,640 |