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STOCK BASED COMPENSATION | 3 Months Ended
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May 31, 2022
Equity [Abstract] |
STOCK BASED COMPENSATION | NOTE 6: STOCK BASED COMPENSATION During the three months ended May 31, 2022, the Company granted options to acquire 1,408 shares to employees at an exercise price of $5.80. The options granted to employees vest over three years and expire ten years from the date of issuance. The options granted during the three months ended May 31, 2022 had a grant date fair value of $3.55 per share. The weighted-average fair value of options are estimated on the date of grant using the Black-Scholes options-pricing model. The weighted-average Black-Scholes assumptions are as follows: Weighted-average Black-Scholes assumptions
| Three Months Ended May 31, 2022
Expected Life | 8 years
Risk free interest rate | 2.82%
Expected volatility | 55.02%
Expected dividend yield | 0%
For the three months ended May 31, 2022 and 2021, net income and earnings per share reflect the actual expense for stock-based compensation. The impact of applying ASC 718 approximated $69,000 and $22,000 in compensation expense during the three months ended May 31, 2022 and 2021, respectively.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 + Details
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