Accrued Expenses and Other Current Liabilities

12 Months Ended

Feb. 28, 2021

Disclosure Text Block Supplement [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 7 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities on February 28, 2021 and February 29, 2020 consisted of the following:

	February 28, 2021		February 29, 2020
Accrued payroll and related expenses		547,412	$	1,868,928
Accrued payroll - related party		-		1,008,328
Customer advances		440,331		440,331
Accrued interest		239,038		498,698
Accrued interest-related party		412,911		262,911
Operating lease liability		110,587		-
Other accrued expenses		88,747		77,362
	$	1,839,026	$	4,156,557

Accrued payroll and related expenses consist primarily of salaries and vacation time accrued but not paid to employees due to our lack of financial resources. Customer advances, which represent advanced payments received by the Company in connection with future product deliveries in the amount of approximately $440,000 at February 28, 2021 and February 29, 2020, respectively. Accrued interest consists of amounts due (see Note 5) to holders of convertible promissory notes of $1.4 million and for demand and other promissory notes of approximately $0.4 million. The accrued interest-related party is related to principal amount due to Mr. Breslow of $3.0 million as of February 28, 2021 (see Note 6). The operating lease liability of approximately $111,000 is the current portion of the lease liability recognized in accordance with ASC 842 (see Note 8).