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8. DEBT (Tables)

12 Months Ended

Feb. 28, 2019

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt consists of the following:

		February 28,
		2019				2018
Line of credit		$	-			$	-
Long-term debt		$	19,776,600			$	20,706,300
Less current maturities			(945,900	)			(881,200	)
Long-term debt, net of current maturities		$	18,830,700			$	19,825,100

Schedule of Long-term Debt Instruments [Table Text Block]

The Tranche B, line of credit and Term Loan #2 all accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA ratio which is payable monthly. The current pricing tier is as follows:

Pricing Tier	Adjusted Funded Debt to EBITDA Ratio	LIBOR Margin (bps)
I	>2.00	325.00
II	>1.50 but <2.00	300.00
III	>1.00 but <1.50	275.00
IV	<1.00	250.00

Schedule of Maturities of Long-term Debt [Table Text Block]

The following table reflects aggregate future maturities of long-term debt during the next five fiscal years and thereafter as follows:

Year ending February 28 (29),
2020		$	945,900
2021			988,600
2022			1,038,100
2023			1,087,600
2024			1,139,500
Thereafter			14,576,900
		$	19,776,600

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