EQUITY

6 Months Ended

Aug. 31, 2023

EQUITY

EQUITY

NOTE 5. EQUITY

Incentive Stock Options

During the six months ended August 31, 2023, the Company recognized $21,819 of stock-based compensation related to outstanding stock options. At August 31, 2023, the Company had $114,946 of unrecognized costs related to options.

The following table summarizes the stock option activity for the six months ended August 31, 2023:

	Number of		Weighted Average Exercise Price
	Options		Per Share
Outstanding at February 28, 2023		1,580,000	$	0.57
Granted		-		-
Exercised		-		-
Forfeited and expired		-		-
Outstanding at August 31, 2023		1,580,000	$	0.57

As of August 31, 2023, there were 1,260,466 stock options exercisable. The outstanding stock options have a weighted average remaining term of 4.79 years and have no intrinsic value.

Stock Warrants

The following table summarizes the stock warrant activity for the six months ended August 31, 2023:

	Number of		Weighted Average Exercise Price
	Warrants		Per Share
Outstanding at February 28, 2023		1,400,000	$	0.50
Granted		-		-
Exercised		-		-
Forfeited and expired		-
Outstanding at August 31, 2023		1,400,000	$	0.50

As of August 31, 2023, the outstanding stock warrants have a weighted average remaining term of 0.83 years and have no intrinsic value.