XML 27 R14.htm IDEA: XBRL DOCUMENT v3.25.1
Property, Plant and Equipment, net
 12 Months Ended
Feb. 28, 2025
Property, Plant and Equipment, net  
Property, Plant and Equipment, net

6. Property, Plant and Equipment, net

 

 

 

As at February 28, 2025

 

 

 

Cost

 

 

Accumulated

depreciation,

write-down and

 impairment

 

 

Net book value

 

Machinery and equipment – pre-construction

 

$8,460

 

 

$(8,460)

 

$-

 

Building

 

 

1,717

 

 

 

(406)

 

 

1,311

 

Land

 

 

212

 

 

 

-

 

 

 

212

 

Building and Land Improvements

 

 

1,741

 

 

 

(1,616)

 

 

125

 

Office equipment and furniture

 

 

259

 

 

 

(170)

 

 

89

 

 

 

$12,389

 

 

$(10,652)

 

$1,737

 

 

 

 

As at February 29, 2024

 

 

 

Cost

 

 

Accumulated

 depreciation,

write-down and

impairment

 

 

Net book value

 

Machinery and equipment – pre-construction

 

$8,460

 

 

$-

 

 

$8,460

 

Building

 

 

1,827

 

 

 

(371)

 

 

1,456

 

Land

 

 

226

 

 

 

-

 

 

 

226

 

Building and Land Improvements

 

 

1,853

 

 

 

(1,472)

 

 

381

 

Office equipment and furniture

 

 

275

 

 

 

(162)

 

 

113

 

 

 

$12,641

 

 

$(2,005)

 

$10,636

 

 

During the year ended February 28, 2025 the Company recorded an impairment charge for equipment of $8,460. This impairment was due to the termination of the joint venture arrangement between the Company and SK Geo Centric Co. Ltd. (“SKGC”) under which they had intended to construct and operate an Infinite Loop™ manufacturing facility in Ulsan, South Korea. While the equipment may be utilized in a future commercial production facility, the deployment plans for the use of this equipment are not fully developed at this time, therefore the recoverability of the carrying value of the equipment was tested for impairment, resulting in an impairment loss of $8,460 being recognized in the year ended February 28, 2025.

 

Depreciation expense amounted to $322 for the year ended February 28, 2025 (2024 – $387).