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STOCK BASED COMPENSATION

3 Months Ended

May 31, 2025

Equity [Abstract]

STOCK BASED COMPENSATION

NOTE 5: STOCK BASED COMPENSATION

Stock Options – In May 2023, the Company’s Board of Directors authorized the creation of the 2023 Stock Incentive Plan (the “2023 Plan”) pursuant to which the Company may grant up to 2,500,000 options or shares to officers, directors, employees and consultants of the Company and its subsidiaries. The Company’s shareholders approved the adoption of the 2023 Plan in August 2023. The 2023 Plan replaced the 2013 Stock Incentive Plan (the “2013 Plan”) under which no additional options or shares could be granted after June 2023. At May 31, 2025, 220,367 and 210,770 options were outstanding, respectively, under the 2023 Plan and the 2013 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. The Company accounts for forfeitures as they occur.

During the three months ended May 31, 2025, the Company granted options to acquire 3,138 shares to an employee at an exercise price of $3.77. 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, 2025 had a grant date fair value of $2.39 per share.

The weighted-average fair value of options is 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

	Three Months Ended May 31, 2025
Expected Life	8 years
Risk free interest rate	4.32%
Expected volatility	54.49%
Expected dividend yield	0%

For the three months ended May 31, 2025 and 2024 the Company recognized $75,163 and $54,231 in stock based compensation expense, respectively. Such amounts are included in general and administration expenses on the unaudited condensed consolidated statements of income. Total compensation expense related to non-vested options not yet recognized as of May 31, 2025 was $351,000 and will be recognized over the next three years based on vesting date. The amount of future stock option compensation expense could be affected by any future option grants or by any forfeitures.

The aggregate intrinsic value of the Company’s vested and exercisable options at May 31, 2025 was approximately $58,247.

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- References

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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
-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

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