INCOME TAXES (Tables)

12 Months Ended

Feb. 28, 2022

Income Tax Disclosure [Abstract]

Income Taxes - Income tax reconciliation

The annual provision (benefit) for income taxes differs from amounts computed by applying the maximum U.S. Federal income tax rate of 21% to pre-tax income as follows:

	February 28, 2022			February 28, 2021
Expected federal income tax	$	609,883		$	283,052
State tax, net of federal		37,894			27,102
Research and development tax credits		(101,573	)		(105,320	)
Permanent differences		(179,320	)		12,719
Other		(5,253	)		9,672
Income tax expense	$	361,631		$	227,225

Income Taxes - Deferred tax asset and liability components

The deferred tax asset and liability are comprised of the following:

	February 28, 2022			February 28, 2021
Deferred tax asset
Allowance for inventory	$	69,000		$	66,000
Allowance for accounts receivable		12,000			13,000
Accrued expenses and other		160,000			181,000
Deferred tax asset – Long Term	$	241,000		$	260,000
Deferred tax liability
Building and leasehold depreciation		(169,000	)		(206,000	)
Deferred tax liability – Long Term	$	(169,000	)	$	(206,000	)