XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
May 31, 2021
May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 1,266,752 $ 167,928
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 107,553 109,878
Stock based compensation expense 21,637 8,097
Inventory reserve 31,000 18,000
Paycheck Protection Program Loan Forgiveness (1,005,372)
Deferred tax expense 1,167
(Decrease) Increase in:    
Accounts receivable 589,231 (411,916)
Inventories (32,114) (148,331)
Prepaid expenses and other current assets 42,860 7,110
Accounts payable and accrued expenses (464,960) 134,554
Customer deposits 80,530 (322,996)
Income taxes payable 83,721 41,927
Net Cash Provided By (Used in) Operating Activities 722,005 (395,749)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment, furnishings and leasehold improvements (85,548) (152,402)
Sale of marketable securities 1,073,112 310,786
Net Cash Provided By Investing Activities 987,564 158,384
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from note payable - bank 1,001,640
Repayment of long-term debt (41,879)
Net Cash Provided By Financing Activities 959,761
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,709,569 722,396
CASH AND CASH EQUIVALENTS    
Beginning of period 4,084,078 3,659,551
End of period 5,793,647 4,381,947
SUPPLEMENTAL CASH FLOW DISCLOSURE:    
Interest paid 7,210
Taxes Paid