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Note 4 - DEBT (Tables)

3 Months Ended

May 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt consists of the following:

		2019
		May 31,				February 28,
Line of credit		$	-			$	-
Long-term debt		$	19,538,800			$	19,776,600
Less current maturities			(944,900	)			(945,900	)
Long-term debt, net of current maturities		$	18,593,900			$	18,830,700

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

Tranche B of Term Loan #1, Term Loan #2 and the line of credit accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA Ratio, which is payable monthly. The variable interest 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		$	705,900
2021			988,400
2022			1,038,000
2023			1,087,500
2024			1,139,400
Thereafter			14,579,600
Total		$	19,538,800

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