FINANCIAL INSTRUMENTS

6 Months Ended

Aug. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Note 15 – FINANCIAL INSTRUMENTS

The following methods and assumptions are used in estimating the fair-value disclosures for financial instruments:

- The carrying amounts reported in the condensed balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments.

- The estimated fair value of our assets held for sale was $4,694,000 as of August 31, 2023. We did not have any assets held for sale as of February 28, 2023. Management's estimates are based on the appraised market value and listing price of the asset less the costs to sell.

- The estimated fair value of our term notes payable is estimated by management to approximate $33,588,100 and $34,253,500 as of August 31, 2023 and February 28, 2023, respectively. Management's estimates are based on the obligations' characteristics, including floating interest rate, maturity, and collateral.

- The fair value of the Company’s interest rate swap is based on Level 2 inputs, including the present value of estimated future cash flows based on market expectations of the yield curve on variable interest rates.