COMMITMENTS AND CONTINGENCIES

3 Months Ended

May 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

The balance sheet classification of lease assets and liabilities as of May 31, 2020 was as follows:

Balance Sheet Classification	May 31, 2020
Assets
Operating lease right-of-use assets, March 1, 2020	$	723,000
Amortization for the three months ended May 31, 2020		(93,000	)
Total operating lease right-of-use asset, May 31, 2020	$	630,000
Liabilities
Current
Operating lease liability, short-term	$	427,000
Non-current
Operating lease liability, long-term		266,000
Total lease liabilities	$	693,000

Future minimum lease payments as of May 31, 2020 for the Company’s manufacturing facility are as follows:

Fiscal Year Ending February 28/29	Amount
2021		341,000
2022		388,000
Total Future Undiscounted Cash Flows	$	729,000
Less Imputed Interest to be recognized in lease expense		36,000
Operating Lease Liabilities, as reported	$	693,000

The balance sheet classification of lease assets and liabilities as of February 29, 2020 was as follows:

Balance Sheet Classification	February 29, 2020
Assets
Operating lease right-of-use assets, March 1, 2019	$	1,081,000
Amortization for the fiscal year ended February 29, 2020		(358,000	)
Total operating lease right-of-use asset, February 29, 2020	$	723,000
Liabilities
Current
Operating lease liability, short-term	$	417,000
Non-current
Operating lease liability, long-term		377,000
Total lease liabilities	$	794,000

Future minimum lease payments as of February 29, 2020 for the Company’s manufacturing facility was as follows:

Fiscal Year Ending February 28/29	Amount
2021		454,000
2022		388,000
Total Future Undiscounted Cash Flows	$	842,000
Less Imputed Interest to be recognized in lease expense		48,000
Operating Lease Liabilities, as reported	$	794,000