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Long-Term Debt | 3 Months Ended
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May 31, 2025
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 9 – Long-Term Debt As part of the acquisition of FSA on April 9, 2025, the Company assumed an SBA loan originally issued to FSA on December 4, 2020, with an initial principal amount of $50,500, bearing interest at 3.75% per annum. On October 4, 2021, FSA received a modification to the loan, which increased the principal amount to $199,100. The loan requires monthly payments of principal and interest of $995 and matures on December 4, 2050. In accordance with ASC 805 – Business Combinations, the assumed loan was recognized at its acquisition-date fair value of $98,920, which reflects a market-based effective interest rate of approximately 12.03% per annum over the remaining term of 307 months. The difference between the face value of the debt and the fair value at the acquisition date was included in the allocation of purchase consideration and is reflected in goodwill. The loan is measured at amortized cost subsequent to the acquisition date, and interest expense is recognized using the effective interest method based on the fair value of the liability at the acquisition date. The following table summarizes the loan terms as of the acquisition date: Schedule of Long Term Loan
Description |  | Amount |
Principal amount |  | $ | 199,100 |
Fair value at acquisition date |  | $ | 98,920 |
Remaining term |  |  | 308 months |
Monthly payment |  | $ | 995 |
Effective interest rate |  |  | 12.03 | %
As of May 31, 2025, the balance of the loan was $98,757.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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