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COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Feb. 28, 2021
Commitments and Contingencies Disclosure [Abstract]  
Balance sheet classification of lease assets and liabilities
Balance Sheet Classification

 

February 28, 2021

 

Assets

 

 

 

Operating lease right-of-use assets, March 1, 2020  $723,000 
Amortization for the fiscal year ended February 28, 2021   (383,000)
Total operating lease right-of-use asset, February 28, 2021  $340,000 
Liabilities  
Current  
   Operating lease liability, short-term  $377,000 
Non-current  
   Operating lease liability, long-term   - 
Total lease liabilities  $377,000 

 

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 

 

 

Schedule of future minimum lease payments for non-cancelable operating lease
Fiscal Year Ending February 28

 

Amount

 

2022   388,000 
Total Future Undiscounted Cash Flows  $388,000 
Less Imputed Interest to be recognized in lease expense   11,000 
Operating Lease Liabilities, as reported  $377,000