| Number of Options | Weighted Average Exercise Price | Weighted Average Remaining Contract Life (years) | Aggregate Intrinsic Value (1) | ||
| Outstanding February 28, 2011 | 4,155,000 | $ 1.862 | - | - | |
| Granted | 3,275,000 | 1.000 | - | - | |
| Canceled or expired | (3,260,000) | (1.699) | - | - | |
| Outstanding - February 29, 2012 | 4,170,000 | $ 1.313 | - | - | |
| Granted | 1,200,000 | 1.000 | - | - | |
| Canceled or expired | (960,000) | (1.345) | - | - | |
| Outstanding - February 28, 2013 | 4,410,000 | $ 1.221 | 7.32 | $ - | |
| Exercisable at February 28, 2013 | 3,870,000 | $ 1.248 | 7.09 | $ - | |
| (1) | The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. |