Stock Options and Warrants:

12 Months Ended

Feb. 28, 2025

Stock Options and Warrants:

Stock Options and Warrants:

6.           Stock Options and Warrants:

At February 28, 2025, the Company had one stock-based employee compensation plan, which is described below.  

On September 14, 1996, the Company granted 600,000 stock options, with an exercise price of $0.35 per share, to an officer who is no longer with the Company. The options vested as follows:

		Vesting Date
400,000	options	September 14, 1996
100,000	options	June 1, 1997
100,000	options	June 1, 1998

The options are valid in perpetuity. None of the options have been exercised as of February 28, 2025.

The Company accounts for share-based payments to non-employees in accordance with the guidance provided by the FASB ASC 718, Compensation – Stock Compensation to include share-based payments granted to non-employees in exchange for goods or services used or consumed in an entity’s own operations.