Related Party Transactions

12 Months Ended

Feb. 28, 2023

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 15 – RELATED PARTY TRANSACTIONS

As of February 28, 2023 and 2022, Bettersea LLC (“Bettersea”) was a 9.7% and 11.0%, respectively, shareholder in the Company. For the years ended February 28, 2023 and 2022, the Company incurred total fees to Bettersea of $150 and $138, respectively, for consulting services. As of February 28, 2023 and 2022, a total of approximately $226 and $219, respectively, was due to Bettersea and included in accounts payable and accrued expenses.

During Fiscal 2022, the Company issued 1,285,714 shares of common stock with a fair value of Four hundred fifty thousand dollars for the settlement of accounts payable of Four hundred fifty thousand dollars due to Bettersea. Also, during fiscal 2022, the Company issued 285,715 shares of common stock with a fair value of One hundred thousand dollars for the settlement of accounts payable of One hundred thousand dollars due to the Company’s President. There were no gains or losses recognized on these transactions.