Stockholders' Equity
 3 Months Ended
May 31, 2018
Notes to Financial Statements  
Note 7. Stockholders' Equity

Common Stock

 

For the three months ended May 31, 2018  

Number of

shares

     Amount  
Balance, February 28, 2018     33,751,088     $ 3,376  
Cashless exercise of warrants     18,821       2  
Issuance of shares upon vesting of restricted stock units     35,797       3  
Balance, May 31, 2018     33,805,706     $ 3,381  

 

During the three months ended May 31, 2018, the Company issued 18,821 shares of common stock upon the cashless exercise of 20,000 warrants and 35,797 shares of common stock upon issuance of restricted stock units.

 

During the three months ended May 31, 2017, the Company sold 1,123,266 shares of its common stock at an offering price of $5.25, resulting in net proceeds to the Company of $5,897,188. The shares issued to investors were not registered under the Securities Act of 1933, as amended (the “Act”), in reliance upon the private offering safe harbor provision of Rule 506 Regulation D.