XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.23.4

STOCK-BASED COMPENSATION | 9 Months Ended
--- | ---
Nov. 30, 2023
Equity [Abstract] |
STOCK-BASED COMPENSATION | NOTE 5: STOCK-BASED COMPENSATION Stock Options - Until May 2023, options were available to be granted to officers, directors, consultants and employees of the Company and its subsidiaries to purchase up to 2,500,000 shares of the Company's common stock, under the Company’s 2013 Stock Incentive Plan (the "2013 Plan"). Under the 2013 Plan options expire ten years after the date of grant. As of November 30, 2023, there were 247,483 options outstanding under the 2013 Plan, of which 171,704 are vested. No additional options may be granted under the 2013 Plan. In August 2023, the Company’s shareholders approved the Company’s 2023 Stock Incentive Plan (the “2023 Plan”) under which 2,500,000 options may be granted to officers, directors, consultants and employees of the Company and its subsidiaries. As of November 30, 2023, there were 58,810 options outstanding under the 2023 Plan. The Company accounts for stock based compensation under ASC 718, “Share Based Payments.” which requires companies to expense the value of employee stock options and similar awards. During the nine months ended November 30, 2023, the Company granted options to acquire 47,830 shares to employees exercisable at prices ranging from $4.79 to $5.60 and options to acquire 18,380 shares to non-employee members of the board of directors with an exercise price of $4.79. The options granted to employees and directors vest over three years 3 and expire in ten 10 years. The options granted during the first nine months of fiscal 2024 had a combined weighted average grant date fair value of $3.06 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: Schedule of weighted-average Black-Scholes assumptions
|  | Nine Months Ended November 30, 2023 |
Expected Life |  |  | 5 - 8 years |
Risk free interest rate |  |  | 2.82% - 4.39% |
Expected volatility |  |  | 55.02% - 62.48% |
Expected dividend yield |  |  | 0% |
For the three and nine months ended November 30, 2023 and 2022, net income and earnings per share reflect the actual deduction for stock-based compensation expense. For the three months ended November 30, 2023 and 2022, the Company recognized approximately $53,000 and $61,000 of stock based compensation expense, respectively. For the nine months ended November 30, 2023 and 2022, the Company recognized approximately $147,000 and $173,000 of stock based compensation expense, respectively. Such amounts are included in general and administrative expenses on the unaudited condensed consolidated statements of income.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration