INCOME TAXES (Tables)

12 Months Ended

Feb. 28, 2021

Income Tax Disclosure [Abstract]

Reconciliation of the U.S. federal statutory tax rate to the Company's effective tax rate

	2021		2020
Net Income/(Loss) Before Taxes	1,381,000		(606,000)
Provision/(Benefit) at statutory rate	290,000	21.0%	(127,000)	21.0%
State Tax Provision/(Benefit) net of federal benefit	50,000	3.6%	(19,000)	3.0%
Permanent Book/Tax Differences	-	0.0%	27,000	-4.5%
Change in Valuation Allowance	(340,000)	-24.6%	138,000	-22.8%
Other	-	0.0%	(19,000)	3.1%
Income Tax Provision / (Benefit)	-		-
Effective income tax rate	0.00%		0.00%

Summary of deferred tax asset (Liability)

Deferred Tax Asset (Liability):	2021	2020
Accrued Liabilities	$56,736	$44,177
Inventory Allowance	1,406,453	1,339,208
Section 263A Capitalized Costs	53,799	59,095
Net Operating Loss Carryforwards	2,456,278	2,865,302
Other	14,902	32,972
Depreciation	(6,058)	(18,952)
Total Deferred Tax Assets (Liabilities)	3,982,110	4,321,802
Valuation allowance	(3,982,110)	(4,321,802)
Total Net Deferred Tax Assets (Liabilities)	$-	$-

Federal net operating loss carryforward expirations

Fiscal Year Ending February 28/29	Amount
2023	$837,000
2029	7,514,000
2037	322,000
2038	187,000
2039	986,000
2040	285,000
Total	$10,131,000