Seychelle Environmental (SYEV) 10-Q 12 Jan 16 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Nov. 30, 2015	Jan. 11, 2016
Document And Entity Information
Entity Registrant Name	SEYCHELLE ENVIRONMENTAL TECHNOLOGIES INC /CA
Entity Central Index Key	1,056,757
Document Type	10-Q
Document Period End Date	Nov. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--02-29
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		26,352,646
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Nov. 30, 2015	Feb. 28, 2015
ASSETS
Cash and cash equivalents	$ 1,866,352	$ 1,514,534
Accounts receivable, net of allowance for doubtful accounts and sales returns of $13,400	837,919	284,121
Related party receivables	35,005	12,601
Inventory, net	1,931,623	1,009,491
Deferred tax assets	201,218	629,838
Prepaid expenses, deposits, and other current assets	170,024	174,052
Total current assets	5,042,141	3,624,637
Property and equipment, net	203,024	162,107
Intangible assets, net	151,343	152,643
Deferred tax assets	611,314	611,314
Other assets	15,651	25,491
Total assets	6,023,473	4,576,192
Current Liabilities:
Accounts payable and accrued expenses	$ 319,343	238,009
Accrued legal and settlement fees		532,103
Customer deposits	$ 12,907	119,215
Income taxes payable	277,200
Capital lease obligation, current portion	11,527	5,639
Total current liabilities	620,977	894,966
Long term Liabilities:
Capital lease obligation, net of current	20,597	4,081
Total liabilities	641,574	899,047
STOCKHOLDERS' EQUITY
Preferred stock, 6,000,000 shares authorized, none issued or outstanding	0	0
Common stock $0.001 par value, 50,000,000 shares authorized, 26,352,646 and 25,913,646 issued at November 30, 2015 and February 28, 2015, respectively	26,389	$ 25,914
Less treasury stock at cost, 36,000 and 0 shares at November 30, 2015 and February 28, 2015, respectively	(12,280)
Additional paid-in capital	8,815,625	$ 8,457,603
Accumulated deficit	(3,447,835)	(4,806,372)
Total Stockholders' Equity	5,381,899	3,677,145
Total liabilities and stockholders' equity	$ 6,023,473	$ 4,576,192

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Nov. 30, 2015	Feb. 28, 2015
CURRENT ASSETS
Net of allowance for doubtful accounts	$ 13,400	$ 3,400
STOCKHOLDERS' EQUITY
Preferred stock, authorized shares	6,000,000	6,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Preferred Stock Value	$ 0	$ 0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	26,352,646	25,913,646

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Condensed Consolidated Statements Of Income
Sales	$ 3,246,064	$ 1,287,814	$ 8,318,076	$ 3,162,328
Cost of sales	1,696,850	724,997	4,084,591	1,730,478
Gross profit	1,549,214	562,817	4,233,485	1,431,850
OPERATING EXPENSES
Selling, General, and Administrative Expenses	651,839	507,951	1,771,355	1,695,471
Archette legal expenses	308,494	487,210	344,078	792,986
Depreciation and Amortization	23,280	16,827	52,574	46,402
Total operating expenses	983,613	1,011,988	2,168,007	2,534,859
Income (Loss) from Operations	565,601	(449,171)	2,065,478	(1,103,009)
OTHER INCOME (EXPENSE)
Interest income	9	947	237	3,718
Interest expense	(304)	(401)	(437)	(849)
Other income (expense)	(1,533)	7,201	(921)	9,740
Total other income (expense)	(1,828)	7,747	(1,121)	12,609
Income (loss) before income tax benefit (expense)	563,773	(441,424)	2,064,357	(1,090,400)
Income tax benefit (expense)	(192,811)	158,386	(705,820)	402,046
Net Income (Loss)	$ 370,962	$ (283,038)	$ 1,358,537	$ (688,354)
BASIC INCOME (LOSS) PER SHARE	$ 0.01	$ (0.01)	$ 0.05	$ (0.03)
DILUTED INCOME (LOSS) PER SHARE	$ 0.01	$ (0.01)	$ 0.05	$ (0.03)
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	26,372,003	25,913,206	26,139,612	25,898,446
DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	29,630,705	25,913,206	28,779,718	25,898,446

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
OPERATING ACTIVITIES:
Net income (loss)	$ 1,358,537	$ (688,354)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	52,574	46,402
Stock-based compensation	$ 358,497	302,325
Provision for doubtful accounts		9,900
Deferred income tax expense (benefit)	$ 428,620	(401,846)
Changes in operating assets and liabilities:
Increase in accounts receivable	(553,798)	(12,692)
Increase in related party receivables	(22,404)	5,597
(Increase) decrease in inventory	(922,132)	(60,189)
(Increase) decrease in prepaid expenses, deposits and other assets	13,868	(83,262)
(Decrease) increase in accounts payable and accrued expenses	81,334	$ 75,128
Decrease in accrued legal and settlement fees	(532,103)
Increase in income taxes payable	277,200
Decrease in customer deposits	(106,308)	$ 42,913
Net Cash Provided By (Used In) Operating Activities	433,885	(764,078)
INVESTING ACTIVITIES:
Purchase of property and equipment	$ (66,191)	(43,887)
Purchase of intangible assets		(150,434)
Net Cash Used In Investing Activities	$ (66,191)	$ (194,321)
FINANCING ACTIVITIES:
Purchase of treasury stock	(12,280)
Repayment of capital lease obligations	(3,596)	$ (2,817)
Net Cash Used in Financing Activities	(15,876)	(2,817)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	351,818	(961,216)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,514,534	2,971,825
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,866,352	$ 2,010,609
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Acquisition of equipment under capital leases	26,000
Cash paid for:
Interest	$ 437	$ 849
Income taxes

1. CONDENSED CONSOLIDATED FINAN

1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	NOTE 1: CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements have been prepared by Seychelle Environmental Technologies, Inc., and subsidiaries (the "Company") without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at November 30, 2015, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended February 28, 2015. The results of operations for the periods ended November 30, 2015 and 2014 are not necessarily indicative of the operating results for the full fiscal years. The summary of significant accounting policies of the Company is presented to assist in understanding the Company's consolidated financial statements. The consolidated financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of these condensed consolidated financial statements and the February 28, 2015 consolidated financials included in the Form 10-K filed on May 26, 2015. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.

2. INCOME (LOSS) PER SHARE

2. INCOME (LOSS) PER SHARE	9 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
BASIC INCOME (LOSS) PER SHARE	NOTE 2: INCOME (LOSS) PER SHARE Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period presented. Diluted income (loss) per share is determined using the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The denominator for diluted income (loss) per share for the three and nine month periods ended November 30, 2014 did not include warrants as they would have been anti-dilutive. For the nine months ended November 30, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 1,358,537 $ (688,354 ) Weighted average shares – basic 26,139,612 25,898,446 Net income (loss) per share – basic $ 0.05 $ (0.03 ) Dilutive effect of common stock equivalents: Warrants 2,640,106 - Weighted average shares – diluted 28,779,718 25,898,446 Net income (loss) per share – diluted $ 0.05 $ (0.03 ) For the three months ended November 30, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 370,962 $ (283,038 ) Weighted average shares – basic 26,372,003 25,913,206 Net income (loss) per share – basic $ 0.01 $ (0.01 ) Dilutive effect of common stock equivalents: Warrants 3,258,701 - Weighted average shares – diluted 29,630,704 25,913,206 Net income (loss) per share – diluted $ 0.01 $ (0.01 )

3. COMMON STOCK PURCHASE WARRAN

3. COMMON STOCK PURCHASE WARRANTS	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
COMMON STOCK PURCHASE WARRANTS	NOTE 3: COMMON STOCK AND STOCK PURCHASE WARRANTS Common Stock During the three month period ended November 30, 2015, 120,000 shares of restricted common stock were issued to employees and officers of the Company. Additionally, 100,000 and 10,000 shares of restricted common stock were issued to TAM and vendors, respectively. During the nine month period ended November 30, 2015, 235,000 shares of restricted common stock were issued to employees and officers of the Company. Additionally, 200,000, 30,000, and 10,000 shares of restricted common stock were issued to TAM, vendors, and TAM's trustee, respectively. The shares were fully vested upon issuance. The value recorded in the accompanying condensed consolidated financial statements was based on the estimated fair value of the stock on the date of the grant and aggregated $73,600 and $156,600 for the three and nine month periods ended November 30, 2015, respectively. During the nine month period ended November 30, 2014, 60,000 shares of restricted stock were issued by the Company to employees. 50,000 shares vest over a two year period, with 17,000 shares vested upon issue, with 17,000 and 16,000 after one and two years, respectively. The other 10,000 shares were fully vested upon issuance. The value recorded in the accompanying condensed consolidated financial statements was based on the estimated fair value of the stock on the date of the grant and aggregated $3,800. During the three months ended November 30, 2015, the Company repurchased 36,000 shares of common stock for a costs of $12,280. This repurchase has been recorded as treasury stock and reflected as a reduction of stockholders’ equity on the accompanying condensed consolidated balance sheet. Warrants The Company has determined the estimated value of warrants granted using the Black-Scholes option pricing model. The amount of the expense charged to operations for warrants was $67,200 and $201,400 for the three and nine month periods ended November 30, 2015, respectively, and $88,175 and $264,525 for the three and nine month periods ended November 30, 2014, respectively. All outstanding warrants are expected to be vested in December 2015. A summary of warrant activity for the nine months ended November 30, 2015 is as follows: Weighted- Average Warrants Exercise Outstanding Price Outstanding at February 28, 2015 8,407,221 0.21 Granted - - Exercised - - Forfeited (2,000,000 ) 0.21 Outstanding at November 30, 2015 6,407,221 0.21 Vested at November 30, 2015 6,086,859 0.21 Exercisable at November 30, 2015 6,086,859 0.21 The following table summarizes significant ranges of outstanding warrants as of November 30, 2015: Warrants Outstanding Warrants Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Number Exercise Price Outstanding Life (Years) Price Outstanding Price $0.21 6,407,221 5.01 $0.21 6,086,859 $0.21

4. INVENTORY

4. INVENTORY	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
INVENTORY	NOTE 4: INVENTORY The Company's inventory consisted of the following at November 30, 2015 and February 28, 2015: November 30, 2015 February 28, 2015 Raw materials $ 1,271,218 $ 536,302 Finished goods 700,405 513,189 1,971,623 1,049,491 Reserve for obsolete and slow moving inventory (40,000 ) (40,000 ) $ 1,931,623 $ 1,009,491

5. LINE OF CREDIT

5. LINE OF CREDIT	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
LINE OF CREDIT	NOTE 5: LINE OF CREDIT As of February 28, 2015, the Company had a line of credit agreement totaling $500,000, with no outstanding borrowings as of February 28, 2015 or November 30, 2015. The line expired on September 1, 2015 and was not renewed.

6. CONCENTRATIONS

6. CONCENTRATIONS	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
CONCENTRATIONS	NOTE 6: CONCENTRATIONS Sales to two customers accounted for 61% and 64%, respectively, of sales for the three and nine month period ended November 30, 2015. Accounts receivable from these two customers amounted to $702,797 or 84% of accounts receivable as of November 30, 2015. Sales to three customers accounted for 63% and 61% of sales for the three and nine month periods ended November 30, 2014, respectively. Accounts receivable from these three customers amounted to $233,000 or 70% of accounts receivable as of November 30, 2014. The Company also had four significant customers at February 28, 2015 who accounted for approximately 76% of net accounts receivable.

7. RELATED PARTY TRANSACTIONS

7. RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
RELATED PARTY TRANSACTIONS	NOTE 7: RELATED PARTY TRANSACTIONS During the three month periods ended November 30, 2015 and 2014, payments totaling $37,500 and $103,250, respectively, and during the nine month periods ended November 30, 2015 and 2014, payments totaling $112,500 and $177,250, respectively, were made to TAM Irrevocable Trust ("TAM") for consulting services, in which Cari Beck, is a trustee as well as the daughter of the Company's CEO, Founder and President. During the three month periods ended November 30, 2015 and 2014, TAM purchased, on behalf of the Company, $185,000 and $0, respectively, of raw materials, respectively, for related tooling to a vendor with which it already had a business relationship. During the nine month periods ended November 30, 2015 and 2014, TAM purchased, on behalf of the Company, $393,000 and $0, respectively, of raw materials, and paid $3,500 and $0, respectively, for related tooling to a vendor with which it already had a business relationship. The Company reimbursed TAM for these outlays in full during the nine months ended November 30, 2015. During the nine month period ended November 30, 2014, the Company paid $150,000 to TAM for purchase of intellectual property retained by TAM when the Company was organized in 1998.

8. COMMITMENTS AND CONTINGENCIE

8. COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
COMMITMENTS AND CONTINGENCIES	NOTE 8: COMMITMENTS AND CONTINGENCIES The Company previously reported that it was involved in a case titled Letty Garcia v. Carl Palmer, Seychelle Environmental Technologies, Inc., et. al. brought in the Superior Court for the State of California, San Diego County District. This case was transferred to the Orange County Superior Court for the State of California. The case was settled on November 16, 2015. The outstanding obligations were paid in full during the three month period ended November 30, 2015. In January 2012, the Company entered into a contract with a distributor in which it granted exclusive distribution rights for certain new product lines. Subsequently, there was a contract dispute that has resulted in a lawsuit titled, Archette Wellness Group, dba Functional Water Technologies v. Seychelle Environmental Technologies, brought in the U.S. District Court, for the Central District of California, Southern Division. The case was settled on March 4, 2015, and such amount was fully provided for as of February 28, 2015. The outstanding obligations were paid in full during the nine month period ended November 30, 2015. Otherwise, as of November 30, 2015, there are no other legal proceedings pending or threatened, or judgments entered against the Company or any of its directors or officers in their capacity as such.

9. SUBSEQUENT EVENTS

9. SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9: SUBSEQUENT EVENTS On September 1, 2015, 130,000 shares of restricted common stock were issued to employees and officers of the Company. Additionally, 100,000 shares of restricted common stock were issued to TAM. The Company also re-purchased 16,000 shares from a stockholder. The line of credit (see Note 5) expired on September 1, 2015 and was not renewed.

2. INCOME (LOSS) PER SHARE (Tab

2. INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
Basic and Diluted income (loss) per share	For the nine months ended November 30, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 1,358,537 $ (688,354 ) Weighted average shares – basic 26,139,612 25,898,446 Net income (loss) per share – basic $ 0.05 $ (0.03 ) Dilutive effect of common stock equivalents: Warrants 2,640,106 - Weighted average shares – diluted 28,779,718 25,898,446 Net income (loss) per share – diluted $ 0.05 $ (0.03 ) For the three months ended November 30, 2015 2014 Numerator: Net income (loss) available to common shareholders $ 370,962 $ (283,038 ) Weighted average shares – basic 26,372,003 25,913,206 Net income (loss) per share – basic $ 0.01 $ (0.01 ) Dilutive effect of common stock equivalents: Warrants 3,258,701 - Weighted average shares – diluted 29,630,704 25,913,206 Net income (loss) per share – diluted $ 0.01 $ (0.01 )

3. COMMON STOCK PURCHASE WARR16

3. COMMON STOCK PURCHASE WARRANTS (Tables)	9 Months Ended
	Nov. 30, 2015
Common Stock Purchase Warrants Tables
Summary of warrant activity	Weighted- Average Warrants Exercise Outstanding Price Outstanding at February 28, 2015 8,407,221 0.21 Granted - - Exercised - - Forfeited (2,000,000 ) 0.21 Outstanding at November 30, 2015 6,407,221 0.21 Vested at November 30, 2015 6,086,859 0.21 Exercisable at November 30,, 2015 6,086,859 0.21
Significant ranges of outstanding warrants	Warrants Outstanding Warrants Exercisable Weighted Weighted Weighted Average Average Average Exercise Number Remaining Exercise Number Exercise Price Outstanding Life (Years) Price Outstanding Price $0.21 6,407,221 5.01 $0.21 6,086,859 $0.21

4. INVENTORY (Tables)

4. INVENTORY (Tables)	9 Months Ended
	Nov. 30, 2015
Inventory Tables
Inventory	The Company's inventory consisted of the following at November 30, 2015 and February 28, 2015: November 30, 2015 February 28, 2015 Raw materials $ 1,271,218 $ 536,302 Finished goods 700,405 513,189 1,971,623 1,049,491 Reserve for obsolete and slow moving inventory (40,000 ) (40,000 ) $ 1,931,623 $ 1,009,491

2. INCOME (LOSS) PER SHARE - (

2. INCOME (LOSS) PER SHARE - (Details) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Numerator:
Net Income (Loss) available to common shareholders	$ 370,962	$ (283,038)	$ 1,358,537	$ (688,354)
Weighted average shares, basic	26,372,003	25,913,206	26,139,612	25,898,446
Net income (loss) per share, basic	$ 0.01	$ (0.01)	$ 0.05	$ (0.03)
Dilutive effect of common stock equivalents:
Warrants	$ 3,258,701		$ 2,640,106
Weighted average shares, diluted	29,630,704	25,913,206	28,779,718	25,898,446
Net income (loss) per share, diluted	$ 0.01	$ (0.01)	$ 0.05	$ (0.03)

3. COMMON STOCK PURCHASE WARR19

3. COMMON STOCK PURCHASE WARRANTS (Details) - 9 months ended Nov. 30, 2015 - $ / shares	Total	Total
Common Stock Purchase Warrants Details
Warrants Outstanding at February 28, 2015	8,407,221
Warrants, Granted
Warrants, Exercised
Warrants, Forfeited	2,000,000
Warrants, Outstanding at November 30, 2015	6,407,221
Vested at November 30, 2015		6,086,859
Exercisable at November 30, 2015		6,086,859
Warrants Outstanding		6,407,221
Remaining Life in years of Warrants Outstanding	5 years 1 month 15 days
Warrants Weighted Average Exercise Price per Share	$ 0.21	$ 0.21
Warrants Weighted Average Exercise Price per Share, Outstanding at August 31, 2015	$ 0.21
Weighted Average Exercise Price Warrants Exercisable at August 31, 2015		$ 0.21

4. INVENTORY (Details)

4. INVENTORY (Details) - USD ($)	Nov. 30, 2015	Feb. 28, 2015
Inventory Details
Raw materials	$ 1,271,218	$ 536,302
Finished goods	700,405	513,189
Inventory	1,971,623	1,049,491
Reserve for obsolete and slow moving inventory	(40,000)	(40,000)
Inventory, Net	$ 1,931,623	$ 1,009,491

3. COMMON STOCK PURCHASE WARR21

3. COMMON STOCK PURCHASE WARRANTS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Common Stock Purchase Warrants Details Narrative
Expense charged to operations for warrants	$ 67,200	$ 88,175	$ 201,400	$ 264,525

5. LINE OF CREDIT (Details Narr

5. LINE OF CREDIT (Details Narrative) - USD ($)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Feb. 28, 2015
Line Of Credit Details Narrative
Available Line of Credit		$ 500,000	$ 500,000
Company borrowings against line of credit		$ 0	$ 0
Expiration of line of credit	Sep. 1, 2015

6. CONCENTRATIONS (Details Narr

6. CONCENTRATIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Concentrations Details Narrative
Percentage of sales attributable to two customers	61.00%		64.00%
Amount of accounts receivable from two customers	$ 702,797		$ 166,861
Percentage of sales attributable to two customers	84.00%
Percentage of sales attributable to three customers		63.00%		61.00%
Amount of accounts receivable from three customers		$ 233,000
Percentage of accounts receivable from three customers		70.00%
Percentage of sales attributable to four customers			76.00%

7. RELATED PARTY TRANSACTIONS (

7. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014
Related Party Transactions Details Narrative
Payments to Irrevocable Trust for consulting services in which Cari Beck is a trustee as well as the daughter of the Company's President	$ 37,500	$ 103,250	$ 112,500	$ 177,250
Puchase of raw materials by TAM	185,000	0	393,000	0
Payment for related tooling	$ 3,500	$ 0
Payment for intellectual property retained by TAM when company was organized in 1998			$ 393,000	$ 150,000