Income Taxes (Tables)

12 Months Ended

Feb. 28, 2022

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Effective Income Tax Rate

The following table reconciles the U.S. federal statutory income tax rate in effect for the years ended February 28, 2022, February 28, 2021, and the Company’s effective tax rate:

	Year Ended February 28, 2022			Year Ended February 28, 2021
U.S. federal statutory income tax	$	(490,375	)	$	(1,240,198	)
PPP loan forgiveness		(21,362	)		-
Meals & Entertainment		46			3,947
Stock expense related to warrant modifications		-			569,135
True-up of prior year permanent items		-			417,242
Change in valuation allowance		511,691			249,874
Effective income tax rate	$	-		$	-

Schedule of Components of Deferred Income Tax Assets

The significant components of deferred income tax assets and (liabilities) at February 28, 2022 and February 28, 2021 are as follows:

	February 28, 2022			February 28, 2021
Capitalized geological/geophysical & other intangibles	$	2,848		$	8,285
Debt discount & related amortization		744,577			486,060
Federal net operating loss		1,967,758			1,709,147
Less: valuation allowance		(2,715,183	)		(2,203,492	)
Net deferred tax asset	$	-		$	-