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IMPAIRMENT ON LONG-TERM INVESTMENT
12 Months Ended
Feb. 28, 2013
IMPAIRMENT ON LONG-TERM INVESTMENT  
IMPAIRMENT ON LONG-TERM INVESTMENT

5.                                      IMPAIRMENT ON LONG-TERM INVESTMENT

 

On August 12, 2011, Zhikang acquired 15% equity interest in Beijing Haidian Holiday Culture Training School (‘‘Holiday School’’) with consideration of $235,397, recorded as a long-term investment. However, after the investment, Holiday School’s business unexpectedly and quickly deteriorated. Therefore, the long-term investment was fully impaired for the year ended February 29, 2012.