DEBT (Tables)

3 Months Ended

May 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt consists of the following:

	May 31, 2021			February 28, 2021
Line of credit	$	8,732,500		$	5,245,300
Advancing term loan	$	3,896,200		$	-
Long-term debt		10,842,300			10,984,700
Less current maturities		(1,185,700	)		(533,500	)
Long-term debt, net of current maturities	$	13,552,800		$	10,451,200

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

The Advancing Term Loan and the line of credit accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA ratio. The variable interest pricing tier is as follows:

Pricing Tier	Adjusted Funded Debt to EBITDA Ratio	LIBOR Margin (bps)
I	>2.00	300.00
II	>1.50 but <2.00	275.00
III	>1.00 but <1.50	250.00
IV	<1.00	225.00

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

The following table reflects aggregate future scheduled maturities of long-term debt during the next five fiscal years and thereafter as follows:

Years ending February 28 (29),
2022	$	838,600
2023		1,387,500
2024		1,407,100
2025		1,426,400
2026		9,289,300
Thereafter		389,600
Total	$	14,738,500