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BALANCE SHEETS - USD ($)
Feb. 28, 2022
Feb. 28, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 4,088,000 $ 3,785,000
Marketable securities 684,000 248,000
Accounts receivable 1,591,000 1,306,000
Inventories, net 2,260,000 2,721,000
Prepaid expenses and other current assets 196,000 372,000
TOTAL CURRENT ASSETS 8,819,000 8,432,000
Property, plant and equipment, net 4,926,000 281,000
Construction in progress 609,000 0
Operating lease - right-of-use asset 0 340,000
Other assets 4,000 40,000
TOTAL ASSETS 14,358,000 9,093,000
CURRENT LIABILITIES    
Accounts payable 135,000 165,000
Customer deposits 24,000 49,000
Operating lease liability 0 377,000
Finance lease liability 9,000 9,000
Notes payable (PPP loan), current portion 0 43,000
Mortgage loan, current portion 103,000 0
Accrued expenses and other current liabilities 888,000 740,000
TOTAL CURRENT LIABILITIES 1,159,000 1,383,000
Notes payable (PPP loan), net of current 0 764,000
Mortgage loan, net of current 2,755,000 0
Finance lease liability, net of current 3,000 13,000
TOTAL LIABILITIES 3,917,000 2,160,000
STOCKHOLDERS' EQUITY    
Preferred stock, $.01 par value, authorized 500,000 shares, none issued 0 0
Common stock, $.01 par value, authorized 10,000,000 shares, 2,083,436 shares outstanding, net of 487,827 treasury shares at February 28, 2022 and 2,083,462 shares outstanding, net of 487,801 treasury shares at February 28, 2021, respectively 21,000 21,000
Additional paid-in capital 1,834,000 1,834,000
Retained Earnings 9,998,000 6,490,000
Less treasury stock (1,412,000) (1,412,000)
TOTAL STOCKHOLDERS' EQUITY 10,441,000 6,933,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 14,358,000 $ 9,093,000