Summary of Principal Accounting Policies (Tables)
|
9 Months Ended |
Nov. 30, 2021 |
Accounting Policies [Abstract] |
|
Schedule of Variable Interest Entities |
The
following assets and liabilities of the VIE and VIE’s subsidiaries are included in the accompanying condensed consolidated financial
statements of the Company as of November 30, 2021 and February 28, 2021:
Schedule of Variable Interest Entities
Assets
and liabilities of the VIE
| |
November 30, 2021 | | |
February 28, 2021 | |
| |
(unaudited) | | |
| |
Current assets | |
$ | 5,181,655 | | |
$ | 2,251,100 | |
Non-current assets | |
| 30,118 | | |
| 45,503 | |
Total assets | |
$ | 5,211,773 | | |
$ | 2,296,603 | |
| |
| | | |
| | |
Current liabilities | |
$ | 8,647,515 | | |
$ | 4,906,955 | |
Non-current liabilities | |
| — | | |
| — | |
Total liabilities | |
$ | 8,647,515 | | |
$ | 4,906,955 | |
Assets
and liabilities of the VIE’s Subsidiaries
| |
November 30, 2021 | | |
February 28, 2021 | |
| |
(unaudited) | | |
| |
Current assets | |
$ | 3,941,377 | | |
$ | 4,177,156 | |
Non-current assets | |
| 9,314 | | |
| — | |
Total assets | |
$ | 3,950,691 | | |
$ | 4,177,156 | |
| |
| | | |
| | |
Current liabilities | |
$ | 2,774,236 | | |
$ | 3,318,450 | |
Non-current liabilities | |
| — | | |
| — | |
Total liabilities | |
$ | 2,774,236 | | |
$ | 3,318,450 | |
Operating
Result of VIE
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 2,412,523 | | |
$ | 1,583,461 | |
Cost of revenue | |
| (727,879 | ) | |
| (928,451 | ) |
Gross profit (loss) | |
$ | 1,684,644 | | |
$ | 655,010 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (5,961 | ) | |
| (5,216 | ) |
General and administrative expenses | |
| (2,024,130 | ) | |
| (1,393,511 | ) |
Research & Development | |
| (438,033 | ) | |
| (100,083 | ) |
Total operating expenses | |
$ | (2,468,124 | ) | |
$ | (1,498,810 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | (783,480 | ) | |
$ | (843,800 | ) |
| |
| | | |
| | |
Interest income | |
| 2,569 | | |
| 1,344 | |
Other income | |
| 13,996 | | |
| 14,263 | |
Total other income (expense) | |
$ | 16,565 | | |
$ | 15,607 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| — | |
| |
| | | |
| | |
Net profit (loss) | |
$ | (766,915 | ) | |
$ | (828,193 | ) |
Operating
Result of VIE’s Subsidiaries
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 14,741,361 | | |
$ | 9,662,128 | |
Cost of revenue | |
| (14,003,795 | ) | |
| (9,143,765 | ) |
Gross profit (loss) | |
$ | 737,566 | | |
$ | 518,363 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (719 | ) | |
| (491 | ) |
General and administrative expenses | |
| (503,737 | ) | |
| (244,731 | ) |
Research & Development | |
| — | | |
| (44,984 | ) |
Total operating expenses | |
$ | (504,456 | ) | |
$ | (290,206 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | 233,110 | | |
$ | 228,157 | |
| |
| | | |
| | |
Interest income | |
| 41 | | |
| 38 | |
Other income | |
| 64,690 | | |
| 56,370 | |
Total other income (expense) | |
$ | 64,731 | | |
$ | 56,408 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| (579 | ) |
| |
| | | |
| | |
Net profit (loss) | |
$ | 297,841 | | |
$ | 283,986 | |
|
[custom:DisclosureSummaryOfPrincipalAccountingPoliciesAbstract] |
| |
November 30, 2021 | | |
February 28, 2021 | |
| |
(unaudited) | | |
| |
Current assets | |
$ | 5,181,655 | | |
$ | 2,251,100 | |
Non-current assets | |
| 30,118 | | |
| 45,503 | |
Total assets | |
$ | 5,211,773 | | |
$ | 2,296,603 | |
| |
| | | |
| | |
Current liabilities | |
$ | 8,647,515 | | |
$ | 4,906,955 | |
Non-current liabilities | |
| — | | |
| — | |
Total liabilities | |
$ | 8,647,515 | | |
$ | 4,906,955 | |
Assets
and liabilities of the VIE’s Subsidiaries
| |
November 30, 2021 | | |
February 28, 2021 | |
| |
(unaudited) | | |
| |
Current assets | |
$ | 3,941,377 | | |
$ | 4,177,156 | |
Non-current assets | |
| 9,314 | | |
| — | |
Total assets | |
$ | 3,950,691 | | |
$ | 4,177,156 | |
| |
| | | |
| | |
Current liabilities | |
$ | 2,774,236 | | |
$ | 3,318,450 | |
Non-current liabilities | |
| — | | |
| — | |
Total liabilities | |
$ | 2,774,236 | | |
$ | 3,318,450 | |
Operating
Result of VIE
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 2,412,523 | | |
$ | 1,583,461 | |
Cost of revenue | |
| (727,879 | ) | |
| (928,451 | ) |
Gross profit (loss) | |
$ | 1,684,644 | | |
$ | 655,010 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (5,961 | ) | |
| (5,216 | ) |
General and administrative expenses | |
| (2,024,130 | ) | |
| (1,393,511 | ) |
Research & Development | |
| (438,033 | ) | |
| (100,083 | ) |
Total operating expenses | |
$ | (2,468,124 | ) | |
$ | (1,498,810 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | (783,480 | ) | |
$ | (843,800 | ) |
| |
| | | |
| | |
Interest income | |
| 2,569 | | |
| 1,344 | |
Other income | |
| 13,996 | | |
| 14,263 | |
Total other income (expense) | |
$ | 16,565 | | |
$ | 15,607 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| — | |
| |
| | | |
| | |
Net profit (loss) | |
$ | (766,915 | ) | |
$ | (828,193 | ) |
Operating
Result of VIE’s Subsidiaries
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 14,741,361 | | |
$ | 9,662,128 | |
Cost of revenue | |
| (14,003,795 | ) | |
| (9,143,765 | ) |
Gross profit (loss) | |
$ | 737,566 | | |
$ | 518,363 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (719 | ) | |
| (491 | ) |
General and administrative expenses | |
| (503,737 | ) | |
| (244,731 | ) |
Research & Development | |
| — | | |
| (44,984 | ) |
Total operating expenses | |
$ | (504,456 | ) | |
$ | (290,206 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | 233,110 | | |
$ | 228,157 | |
| |
| | | |
| | |
Interest income | |
| 41 | | |
| 38 | |
Other income | |
| 64,690 | | |
| 56,370 | |
Total other income (expense) | |
$ | 64,731 | | |
$ | 56,408 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| (579 | ) |
| |
| | | |
| | |
Net profit (loss) | |
$ | 297,841 | | |
$ | 283,986 | |
|
[custom:DisclosureSummaryOfPrincipalAccountingPolicies2Abstract] |
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 2,412,523 | | |
$ | 1,583,461 | |
Cost of revenue | |
| (727,879 | ) | |
| (928,451 | ) |
Gross profit (loss) | |
$ | 1,684,644 | | |
$ | 655,010 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (5,961 | ) | |
| (5,216 | ) |
General and administrative expenses | |
| (2,024,130 | ) | |
| (1,393,511 | ) |
Research & Development | |
| (438,033 | ) | |
| (100,083 | ) |
Total operating expenses | |
$ | (2,468,124 | ) | |
$ | (1,498,810 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | (783,480 | ) | |
$ | (843,800 | ) |
| |
| | | |
| | |
Interest income | |
| 2,569 | | |
| 1,344 | |
Other income | |
| 13,996 | | |
| 14,263 | |
Total other income (expense) | |
$ | 16,565 | | |
$ | 15,607 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| — | |
| |
| | | |
| | |
Net profit (loss) | |
$ | (766,915 | ) | |
$ | (828,193 | ) |
Operating
Result of VIE’s Subsidiaries
| |
For the nine months ended November 30, 2021 | | |
For the nine months ended November 30, 2020 | |
| |
(unaudited) | | |
(unaudited) | |
Revenue | |
$ | 14,741,361 | | |
$ | 9,662,128 | |
Cost of revenue | |
| (14,003,795 | ) | |
| (9,143,765 | ) |
Gross profit (loss) | |
$ | 737,566 | | |
$ | 518,363 | |
| |
| | | |
| | |
Amortization and depreciation | |
| (719 | ) | |
| (491 | ) |
General and administrative expenses | |
| (503,737 | ) | |
| (244,731 | ) |
Research & Development | |
| — | | |
| (44,984 | ) |
Total operating expenses | |
$ | (504,456 | ) | |
$ | (290,206 | ) |
| |
| | | |
| | |
Profit (loss) from operations | |
$ | 233,110 | | |
$ | 228,157 | |
| |
| | | |
| | |
Interest income | |
| 41 | | |
| 38 | |
Other income | |
| 64,690 | | |
| 56,370 | |
Total other income (expense) | |
$ | 64,731 | | |
$ | 56,408 | |
| |
| | | |
| | |
Tax expense | |
| — | | |
| (579 | ) |
| |
| | | |
| | |
Net profit (loss) | |
$ | 297,841 | | |
$ | 283,986 | |
|