Short-term Investments and Fair Value Measurements

12 Months Ended

Feb. 29, 2024

Short-term Investments and Fair Value Measurements

(3) Short-term Investments and Fair Value Measurements

Short-term investments are securities with original maturities of greater than three months but less than twelve months and are comprised of U.S. Treasury Bills. The Company determines the classification of these securities as trading, available for sale or held-to-maturity at the time of purchase and re-evaluates these determinations at each balance sheet date. The Company's short-term investments are classified as held-to-maturity for the period presented as it has the positive intent and ability to hold these investments to maturity. The Company's held-to-maturity investments are stated at amortized cost, which approximated fair value, and are periodically assessed for other-than-temporary impairment.

Amortized cost and estimated fair value of investment securities classified as held-to-maturity were as follows at February 29, 2024 (in thousands):


	February 29, 2024
			Gross		Gross
	Cost or		Unrealized		Unrealized		Estimated
	Amortized		Holding		Holding		Fair
	Cost		Gains		Losses		Value
February 29, 2024
Investment securities due in less than one year	$	29,325	$	-	$	45	$	29,280

February 28, 2023
Investment securities due in less than one year	$	-	$	-	$	-	$	-

The Company’s short-term investments in investment securities are Level 1 fair value measure due to the active trading of U.S. Treasury bills. The Company did not hold any Level 2 or 3 financial assets or liabilities measured at fair value on a recurring basis. There were no transfers between levels during the fiscal year ended February 29, 2024.