Subsequent Events

6 Months Ended

Aug. 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 16 – SUBSEQUENT EVENTS

In March 2022, the Company reached a settlement agreement with Kopple to settle certain debt and accrued interest (see Note 9). In June and July 2022, the Company entered into two amendments to the settlement agreement, pursuant to which the Company agreed to pay extension fees and make a partial payment of $150,000 on a first installment of $3,000,000 initially due in June 2022. For the additional consideration and partial payment, Kopple agreed to extend the due date for the balance of the first installment to September 2022. In September 2022, the Company made an additional extension fee payment to Kopple, in exchange for Kopple’s agreement to further extend the due date of the balance of the first installment to November 2022. As of the date of this report, the Company has not yet paid the balance of the first installment of $2,850,000 due to Kopple.

Subsequent to August 31, 2022, the Company issued 1,492,000 shares of common stock in exchange for cash proceeds of approximately $373,000.