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Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Aug. 31, 2024
Feb. 29, 2024
Current assets    
Cash and cash equivalents $ 258 $ 169
Accounts receivable, less allowance for doubtful accounts of $3 and $3 346 747
Inventories, net 2,161 2,566
Contract assets 255 341
Prepaid expenses and other current assets 122 63
Total current assets 3,142 3,886
Property, Plant and Equipment    
Buildings 753 753
Construction in progress 9 9
Machinery and equipment 3,515 3,515
Property, Plant and Equipment, Gross 4,277 4,277
Accumulated depreciation (3,671) (3,604)
Net property, plant, and equipment 606 673
Right of use assets under operating leases 89 180
Total assets 3,837 4,739
Current liabilities    
Accounts payable (including related party payables of ($236 and $141: Note 5) 763 927
Accrued liabilities 817 864
Contract liabilities 439 889
Note payable to officers and directors, current (Note 5) 2,344 2,144
Current operating lease liability 89 180
Total current liabilities 4,452 5,004
Long-term liability 146 146
Total liabilities 4,598 5,150
Shareholders’ Equity (Deficit)    
Preferred stock, no par value – 10,000 shares authorized; none issued and outstanding 0 0
Common stock, no par value – 50,000 shares authorized; 9,732 issued and 5,878 outstanding at August 31, 2024, and February 29, 2024 7,293 7,293
Additional paid-in capital 281 281
Retained earnings 7,947 8,297
Treasury stock, shares at cost; 3,854 at August 31, 2024 and February 29, 2024 (16,282) (16,282)
Total shareholders’ equity (deficit) (761) (411)
Total liabilities and shareholders’ equity (deficit) $ 3,837 $ 4,739