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Note 3 - LEASES (Tables)

3 Months Ended

May 31, 2019

ASU 2016-02 Transition [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Minimum fixed rental payments are recognized on a straight-line basis over the life of the lease as costs and expenses on our condensed statements of earnings. Variable and short-term rental payments are recognized as costs and expenses as they are incurred. Future minimum rental payments under operating leases with initial terms greater than one year as of May 31, 2019, are as follows:

Year ending February 28 (29),
2020		$	9,600
2021			13,200
2022			13,700
2023			14,200
2024			8,400
Total future minimum rental payments			59,100
Present value discount			(6,200	)
Total operating lease liability		$	52,900

Lease, Cost [Table Text Block]

The following table provides further information about our operating leases as of and for the three months ended May 31, 2019:

Current lease liability		$	13,300
Long-term lease liability		$	39,600
Right-of-use asset		$	52,900
Fixed lease cost		$	3,100
Operating cash flows – operating lease		$	3,100
Remaining lease term (months)			52
Discount rate			4.60	%

Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]

Future minimum payments receivable under operating leases with terms greater than one year as of May 31, 2019 are estimated as follows:

Year ending February 28 (29),
2020		$	1,041,600
2021			1,414,300
2022			1,441,900
2023			1,470,000
2024			1,471,700
Thereafter			10,806,600
Total		$	17,646,100

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
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Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
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-URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919396-209981

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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