LEASES (Tables)

9 Months Ended

Nov. 30, 2019

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 November 30, 2019, are as follows:

Year ending February 28 (29),
2020	$	3,200
2021		13,200
2022		13,700
2023		14,200
2024		8,400
Total future minimum rental payments		52,700
Present value discount		(4,800	)
Total operating lease liability	$	47,900

Lease, Cost [Table Text Block]

The following table provides further information about our operating leases as of and for the nine months ended November 30, 2019:

Current lease liability	$	13,400
Long-term lease liability	$	34,500
Right-of-use asset	$	47,900

Fixed lease cost	$	9,400
Operating cash flows – operating lease	$	9,400
Remaining lease term (months)		46
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 are estimated as follows:

Year ending February 28 (29),
2020	$	373,600
2021		1,509,300
2022		1,539,800
2023		1,570,800
2024		1,575,500
Thereafter		10,859,200
Total	$	17,428,200