INVENTORIES

9 Months Ended

Nov. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES

As of November 30, 2020, and February 29, 2020, inventories, net of reserves, consist of the following:

	November 30, 2020		February 29, 2020
Raw Materials	$	859,000	$	766,000
Work-In-Process		2,087,000		2,058,000
Finished Goods		107,000		46,000
Totals	$	3,053,000	$	2,870,000

Wafer related inventory, which includes raw wafers, work-in-process wafers, and wafer bank (completed wafers that are available to be consumed in the Company’s products), net of reserves, totaled $1,262,000 as of November 30, 2020 and $1,239,000 as of February 29, 2020. Wafer production was temporarily curtailed during fiscal 2020 due to implementation of an improvement plan, which was completed in the first quarter of fiscal 2021. As of November 30, 2020, 100% of the wafer bank inventory consisted of wafers manufactured between calendar year 2016 and 2021. We do not expect all of our wafer inventory to be consumed within twelve months; however, since it is not possible to know which wafers will or will not be used, we classify all our inventory as current.