13. STOCK PURCHASE AGREEMENT

12 Months Ended

Feb. 28, 2014

Investments, All Other Investments [Abstract]

Cost-method Investments, Description [Text Block]

13.      STOCK PURCHASE AGREEMENT

As of February 28, 2013, we acquired a 15.6% position with Demibooks, Inc. for an investment of $430,300 under a Stock Purchase Agreement.  We accounted for this investment using the cost method, as reflected on the balance sheet under ‘investment in nonmarketable equity securities’.  Demibooks provides a publishing platform, Composer, which is a code-free way for publishers and self-published authors and illustrators to create interactive books for the iPad on the device itself. We utilize the Composer platform to create proprietary interactive products. During the year ended 2014, we identified an impairment indicator in the value of our investment in Demibooks, and determined the impairment to be other than temporary. The Company estimated the fair value of the investment to be $0 based on the estimated future cash flows, and recognized an impairment loss of $430,300, which is reflected on the statements of earnings under other expenses.