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INCOME TAXES (Tables)

12 Months Ended

Feb. 28, 2023

Income Tax Disclosure [Abstract]

Income taxes - income tax reconciliation

Income taxes - income tax reconciliation
		February 28, 2023				February 28, 2022
Expected federal income tax		$	165,882			$	609,883
State tax, net of federal			37,204				37,894
Research and development tax credits			(127,329	)			(101,573	)
Permanent differences			78,252				(179,320	)
Other			—				(5,253	)
Income tax expense		$	154,009			$	361,631

Income taxes - current and deferred tax expense

Income taxes - current and deferred tax expense
		February 28,
		2023				2022
Current:
Federal		$	438,263			$	341,882
State			83,525				38,536
Total current income tax			521,788				380,418
Deferred:
Federal			(321,458	)			(18,787	)
State			(46,321	)			—
Total deferred income tax			(367,779	)			(18,787	)
Income tax expense		$	154,009			$	361,631

Income taxes - deferred tax asset and liability components

Income taxes - deferred tax asset and liability components
		February 28, 2023				February 28, 2022
Deferred tax asset
Allowance for inventory		$	76,000			$	69,000
Allowance for accounts receivable			3,000				12,000
Capitalized R&D expenses – IRC Section 174			441,000				—
Accrued expenses and other			147,000				160,000
Deferred tax asset – Long Term		$	667,000			$	241,000
Deferred tax liability
Building and leasehold depreciation			(83,000	)			(169,000	)
Deferred tax liability – Long Term		$	(83,000	)		$	(169,000	)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

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