NOTE 6 - SUBSEQUENT EVENTS (Tables)

3 Months Ended

May 31, 2020

Subsequent Events [Abstract]

Pro forma information

Summary Pro-Forma Balance Sheet at July 2, 2020

(dollars in '000's)

	May 31, 2020			Subsequent Activity			Note	Transaction Effects			Note	Pro Forma July 2, 2020
Cash and total assets	$	0		$	10,000		a.	$	0			$	0
					(10,000	)	b.
Total assets	$	0		$	0			$	0			$	0
Liabilities:
Notes and interest to related parties	$	1,435,000		$	10,000		a.	$				$	1,454,000
					9,000		d.
Accounts payable		352,000			12,000		c.		(192,000	)	e.		—
									(172,000	)	f.
Accrued liabilities		45,000			(10,000	)	b.		(12,000	)	e.		5,000
									(18,000	)	f.
Total liabilities		1,832,000			21,000				(394,000	)			1,459,000
Equity (Deficit):
Common stock paid-in capital		27,290,000							186,000		e.		27,476,000
Accumulated deficit		(29,122,000	)		(9,000	)	d.		18,000		e.		(28,935,000	)
					(12,000	)	c.		190,000		f.
Total stockholders' deficit		(1,832,000	)		(21,000	)			394,000				(1,459,000	)
Total liabilities and equity	$	0		$	0			$	0			$	0

Notes to Pro Forma:

Subsequent activity:

a. Represents loans from a director in June 2020.

b. Represents payment of expenses primarily for audit services in June 2020.

c.	Represents expenses accrued in June 2020.
d.	Additional interest accrual on notes

Transaction effects:

e. Liabilities of the Company paid and settled by the Seller.

f. Liabilities of the Company relieved.