Note 5 - Note Payable to Officers and Directors (Related Party Transactions)

9 Months Ended

Nov. 30, 2023

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 5. – Note Payable to Officers and Directors (Related Party Transactions)

The Company increased borrowings by $710 thousand to fund working capital needs and owes an additional $143 thousand in Company rent for the nine months ending November 30, 2023, that is due to the CEO. The $2,094 thousand note contains no repayment terms and is expected to be repaid in fiscal 2024 along with the $759 thousand in rent owed. The note payable and rent owed are included in the Company’s condensed consolidated balance sheet as of November 30, 2023 as a note payable to officers and directors and within accounts payable, respectively.