XML 38 R29.htm IDEA: XBRL DOCUMENT v3.23.3
Shareholders’ Deficit (Tables)
6 Months Ended
Aug. 31, 2023
Shareholders’ Deficit [Abstract]  
Schedule of Stock Option Activity A summary of the Company’s stock option activity for the six-months ended August 31, 2023 is as follows:
(amounts in thousands, except share and per share data)  Number of
Options
   Exercise
Price
   Weighted
Average
Intrinsic
Value
 
Outstanding, February 28, 2023   4,792,857   $0.48   $
     -
 
Granted   
-
    
-
    
-
 
Exercised   
-
    
-
    
-
 
Cancelled   (542,857)   1.40    
-
 
Outstanding, August 31, 2023   4,250,000   $0.37   $
-
 

 

Schedule of Exercise Prices and Information Related to Options There was no intrinsic value as of August 31, 2023, as the exercise prices of these options were greater than the market price of the Company’s stock. The exercise prices and information related to options under the 2011 Plan outstanding on August 31, 2023 is as follows:
Range of Exercise Price  Stock Options
Outstanding
   Stock Options
Exercisable
   Weighted Average
Remaining
Contractual Life
   Weighted Average
Exercise Price of
Options Outstanding
   Weighted Average
Exercise Price of
Options Exercisable
 
$0.25 to $1.40   4,250,000    4,250,000    2.16   $0.37   $0.37 
Range of Exercise Price  Stock Warrants
Outstanding
   Stock Warrants
Exercisable
   Weighted Average
Remaining
Contractual Life
   Weighted Average
Exercise Price of
Warrants Outstanding
   Weighted Average
Exercise Price of
Warrants Exercisable
 
$0.50 to $1.40   3,564,764    3,564,764    5.33   $0.86   $0.86 
Schedule of Warrant Activity A summary of the Company’s warrant activity for the six-months ended August 31, 2023 is as follows:
   Number of
Warrants
   Exercise
Price
 
Outstanding, February 28, 2023   3,564,764   $0.86 
Granted   
-
    
-
 
Exercised   
-
    
-
 
Cancelled   
-
    
-
 
Outstanding, August 31, 2023   3,564,764   $0.86 
Schedule of Determined the Fair Value of the Kopple Warrants The Company determined the fair value of the Kopple Warrants was $1,051 using a Black-Scholes model using the assumptions as set forth in the table below:
Warrants issued during the Six-Months Ended August 31, 2022    
Exercise Price  $0.85 
Share Price  $0.317 
Volatility %   225%
Risk-Free Rate   1.98%
Expected Term (yrs.)   7.0 
Dividend Rate   0%