XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2022
Feb. 28, 2022
Current assets    
Cash and cash equivalents $ 153 $ 245
Accounts receivable, less allowance for doubtful accounts of $3 and $3 1,073 390
Employee retention credit refund receivable 611 796
Inventories, net 2,983 3,342
Contract assets 1,236 444
Prepaid expenses and other current assets 204 297
Total current assets 6,260 5,514
Property, plant, and equipment    
Buildings 778 778
Machinery and equipment 5,364 5,359
Total property, plant and equipment 6,142 6,137
Accumulated depreciation (5,316) (5,247)
Net property, plant, and equipment 826 890
Right of use assets under operating leases 493 592
Intangible assets, net 86 118
Other noncurrent assets 2 2
Total assets 7,667 7,116
Current liabilities    
Accounts payable 1,945 1,465
Accrued liabilities 975 855
Contract liabilities 1,910 1,872
Note payable to officers and directors, current (Note 6) 784 458
Current maturities of financing lease obligations 98 98
Current operating lease liabilities 200 257
Total current liabilities 5,912 5,005
Finance lease obligations less current maturities 43 64
Long-term operating lease liabilities 293 333
Total liabilities 6,248 5,402
Shareholders' Equity    
Preferred stock, no par value – 10,000 shares authorized; none issued and outstanding
Common stock, no par value – 50,000 shares authorized; 9,732 issued and 5,878 outstanding at May 31, 2022, and at February 28, 2022 7,293 7,293
Additional paid-in capital 281 281
Retained earnings 10,127 10,422
Treasury stock, shares at cost; 3,854 at May 31, 2022 and February 28, 2022 (16,282) (16,282)
Total shareholders' equity 1,419 1,714
Total liabilities and shareholders' equity $ 7,667 $ 7,116