Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |
Feb. 28, 2019 | Jan. 14, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | QUANTUM ENERGY INC. | |
Entity Central Index Key | 0001295961 | |
Trading Symbol | qegy | |
Current Fiscal Year End Date | --02-28 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | No | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Small Business | true | |
Entity Interactive Data Current | No | |
Entity Common Stock, Shares Outstanding (in shares) | 48,491,485 | |
Entity Public Float | $ 7,273,723 | |
Entity Shell Company | false | |
Document Type | 10-K | |
Document Period End Date | Feb. 28, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
Title of 12(b) Security | Common stock, $0.001 Par Value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 28, 2019 | Feb. 28, 2018 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 1,578 | $ 19,864 |
Prepaid legal fees | 37,500 | |
TOTAL CURRENT ASSETS | 1,578 | 57,364 |
Deposit on land purchase | 7,822 | 7,822 |
TOTAL ASSETS | 9,400 | 65,186 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued liabilities | 68,331 | 19,339 |
Accounts payable and accrued liabilities, related parties | 183,185 | 28,444 |
Promissory notes payable | 7,980 | 2,980 |
Promissory notes payable, related party | 64,300 | 4,300 |
TOTAL CURRENT LIABILITIES | 323,796 | 55,063 |
LONG-TERM LIABILITIES: | ||
Common stock payable | 152,198 | |
TOTAL LONG-TERM LIABILITIES | 152,198 | |
TOTAL LIABILITIES | 323,796 | 207,261 |
COMMITMENTS AND CONTINGENCIES (NOTES 7 AND 9) | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock, $.001 par value; 5,000,000 shares authorized, none issued and outstanding | ||
Common Stock, $.001 par value; 495,000,000 shares authorized; 48,491,485 and 47,361,683 shares issued and outstanding, respectively | 48,491 | 47,362 |
Additional paid-in capital | 10,996,420 | 10,828,079 |
Accumulated deficit | (11,359,307) | (11,017,516) |
TOTAL STOCKHOLDERS' DEFICIT | (314,396) | (142,075) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 9,400 | $ 65,186 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Feb. 28, 2019 | Feb. 28, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 495,000,000 | 495,000,000 |
Common stock, shares issued (in shares) | 48,491,485 | 47,361,683 |
Common stock, shares outstanding (in shares) | 48,491,485 | 47,361,683 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
OPERATING EXPENSE | ||
Advertising and marketing | $ 296 | $ 9,551 |
Management fees and compensation | 30,000 | 83,461 |
General and administrative | 37,705 | 123,590 |
Amortization of land purchase option agreements | 120,033 | |
Professional fees | 273,790 | 112,978 |
TOTAL OPERATING EXPENSES | 341,791 | 449,613 |
NET LOSS BEFORE INCOME TAXES | (341,791) | (449,613) |
Provision for income tax | 0 | 0 |
NET LOSS | (341,791) | (449,613) |
DEEMED DISTRIBUTION TO PREFERRED STOCKHOLDERS ON EXCHANGE OF SHARES FOR COMMON STOCK | (99,000) | |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (341,791) | $ (548,613) |
Basic and diluted loss per share (in dollars per share) | $ (0.01) | $ (0.01) |
Basic and diluted weighted average number shares outstanding (in shares) | 48,383,148 | 61,607,764 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit - USD ($) | Preferred Stock [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Feb. 28, 2017 | 1,000,000 | 54,911,683 | |||
Balance at Feb. 28, 2017 | $ 1,000 | $ 54,912 | $ 10,596,068 | $ (10,567,903) | $ 84,077 |
Issuance of common shares for common stock payable (in shares) | 100,000 | ||||
Issuance of common shares for common stock payable | $ 100 | 4,900 | 5,000 | ||
Conversion of preferred stock to common stock (in shares) | (1,000,000) | 1,000,000 | |||
Conversion of preferred stock to common stock | $ (1,000) | $ 1,000 | |||
Common stock and warrants issued (in shares) | 500,000 | ||||
Common stock and warrants issued | $ 500 | 49,500 | 50,000 | ||
Retirement of common stock (Note 10) (in shares) | (10,000,000) | ||||
Retirement of common stock (Note 10) | $ (10,000) | 10,000 | |||
Issuance of common shares for management fees and compensation (in shares) | 850,000 | ||||
Issuance of common shares for management fees and compensation | $ 850 | 84,150 | 85,000 | ||
Stock based compensation | 83,461 | 83,461 | |||
Net loss | (449,613) | (449,613) | |||
Balance (in shares) at Feb. 28, 2018 | 47,361,683 | ||||
Balance at Feb. 28, 2018 | $ 47,362 | 10,828,079 | (11,017,516) | (142,075) | |
Issuance of common shares for common stock payable (in shares) | 1,014,655 | ||||
Issuance of common shares for common stock payable | $ 1,014 | 151,184 | 152,198 | ||
Net loss | (341,791) | (341,791) | |||
Issuance of common shares for professional services (in shares) | 115,147 | ||||
Issuance of common shares for professional services | $ 115 | 17,157 | 17,272 | ||
Balance (in shares) at Feb. 28, 2019 | 48,491,485 | ||||
Balance at Feb. 28, 2019 | $ 48,491 | $ 10,996,420 | $ (11,359,307) | $ (314,396) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (341,791) | $ (449,613) |
Adjustments to reconcile net loss to cash used by operating activities | ||
Stock based compensation | 83,461 | |
Amortization of land purchase option agreements | 120,033 | |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 48,992 | 23,005 |
Accounts payable and accrued liabilities, related parties | 154,741 | |
Prepaid legal expense | 37,500 | (37,500) |
Net cash used by operating activities | (83,286) | (175,614) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sales of common stock and warrants | 50,000 | |
Proceeds from subscription of common stock | 125,000 | |
Proceeds from promissory note | 5,000 | |
Proceeds from promissory note, related party | 60,000 | |
Net cash provided by financing activities | 65,000 | 175,000 |
Net decrease in cash and cash equivalents | (18,286) | (614) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 19,864 | 20,478 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,578 | 19,864 |
NON-CASH FINANCING AND INVESTING ACTIVITIES: | ||
Common stock payable for accounts payable and accrued liabilities | 27,198 | |
Retirement of common stock | 10,000 | |
Common stock issued for common stock payable | 152,198 | |
Conversion of Series A Preferred Stock into Common Stock [Member] | ||
NON-CASH FINANCING AND INVESTING ACTIVITIES: | ||
Conversion of preferred stock into common stock | 1,000 | |
Service Provider [Member] | ||
Adjustments to reconcile net loss to cash used by operating activities | ||
Issuance of common shares | 17,272 | |
Advisory Company Owned by Former CEO [Member] | ||
Adjustments to reconcile net loss to cash used by operating activities | ||
Issuance of common shares | $ 85,000 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 QUANTUM ENERGY INC. (“the Company”) was incorporated under the name “Boomers Cultural Development Inc.” under the laws of the State of Nevada on February 5, 2004. May 18, 2006, The Company is a development stage diversified holding company with an emphasis in land holdings, refinery and fuel distribution. The Company is domiciled in the Unites States of America and trades on the OTC market under the symbol QEGY. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“U.S.GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries FTPM Resources Ltd. and Dominion Energy Processing Group, Inc. after elimination of the intercompany accounts and transactions. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to long-lived asset impairments and stock-based compensation valuation. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations. Risks and uncertainties The Company's operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure. Cash and cash equivalents The Company considers all highly liquid investments with original maturities of three Fair value of financial instruments The Company's financial instruments include cash and cash equivalents, promissory notes payable, and promissory notes payable, related parties. All instruments are accounted for on a cost basis, which, due to the short maturity of these financial instruments, approximates fair value at February 28, 2019 February 28, 2018, Fair value measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 At February 28, 2019 February 28, 2018, no Long-Lived Assets The Company reviews long-lived assets which include a deposit on land purchase for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not may Stock-based Compensation The Company estimates the fair value of options to purchase common stock using the Black-Scholes model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time stock options will be held before they are exercised (“expected life”), the estimated volatility of the Company's common stock price over the expected term (“volatility”), forfeiture rate, the risk-free interest rate and the dividend yield. Changes in the subjective assumptions can materially affect the estimate of fair value of stock-based compensation. Options granted have a ten Income taxes The Company accounts for income taxes using the liability method. The liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of (i) temporary differences between financial statement carrying amounts of assets and liabilities and their basis for tax purposes and (ii) operating loss and tax credit carryforwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when management concludes that it is more likely than not not Related Parties In accordance with ASC 850 one may one one Reclassifications Certain reclassifications have been made to the prior year financial statements in order to compare to the current year financial statement presentation. These reclassifications have no New Accounting Pronouncements In February 2016, No. 2016 02 842 December 15, 2018, March 1, 2019 no In August 2016, No. 2016 15 230 eight December 15, 2017, March 1, 2018 not In November 2016, No. 2016 18 230 December 15, 2017, no March 1, 2018. In January 2017, No. 2017 01 805 December 15, 2017, no March 1, 2018. In June 2018, No. 2018 07, No. 2018 07 December 15, 2018, Other accounting standards that have been issued or proposed by FASB that do not not not not |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 These consolidated financial statements have been prepared in accordance with U.S. GAAP to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of February 28, 2019, $11,359,307 February 28, 2019, $322,218. no |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 Basic Earnings Per Share (“EPS”) is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and warrants. The dilutive effect of outstanding securities as of February 28, 2019 2018, February 28, 2019 February 28, 2018 Stock options - 4,100,000 Warrants 2,129,802 2,129,802 TOTAL POSSIBLE DILUTION 2,129,802 6,229,802 At February 28, 2019 2018, |
Note 5 - Other Assets
Note 5 - Other Assets | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 5 – OTHER ASSETS Deposit on land purchase On December 5, 2016, $500,000 $7,822 The purchase contract originally expired on December 15, 2017, July 10, 2018 On June 8, 2018, $525,000 December 31, 2018 no December 31, 2018. On June 3, 2019, October 31, 2019 no 13 |
Note 6 - Promissory Notes Payab
Note 6 - Promissory Notes Payable | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6 – PROMISSORY NOTES PAYABLE The Company's outstanding notes payable are summarized as follows: February 28, 2019 February 28, 2018 0% unsecured note payable - December 2013, due on demand $ 2,000 $ 2,000 0% unsecured note payable - November 2015, due on demand 980 980 8% unsecured note payable - October 2018, due on demand 5,000 - TOTAL $ 7,980 $ 2,980 On October 31, 2018, $5,000. eight 8% 360 |
Note 7 - Promissory Notes Payab
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 7 – PROMISSORY NOTES PAYABLE , RELATED PARTY AND OTHER RELATED PARTY TRANSACTIONS The Company's outstanding notes payable, related party are summarized as follows: February 28, 2019 February 28, 2018 0% unsecured note payable - October 2015, due on demand $ 2,300 $ 2,300 0% unsecured note payable – November 2015, due on demand 2,000 2,000 8% unsecured note payable - October 2018, due on demand 60,000 - TOTAL $ 64,300 $ 4,300 On October 31, 2018, $60,000 eight 8% 360 Starting January 1, 2019, $15,000 February 28, 2019, $30,000 February 28, 2019. no December 31, 2018. no $30,000 $150,000, 10 ten 2019. Certain officers and directors of the Company had paid various expenses on behalf of the Company. Balances due to the officers and directors for reimbursement of these expenses were $153,185 $28,444 February 28, 2019 February 28, 2018, |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8 – INCOME TAXES There was no February 28, 2019 2018 February 28, 2019 February 28, 2018 Amount computed using the statutory rate $ (71,776 ) (21 %) $ (146,874 ) (33 %) Non-deductible items 161 - % 29,225 7 % Effect of change in the statutory rate - 522,034 116 % Non-recognition due to increase in valuation account 71,615 21 % (404,385 ) (90 %) Total income tax benefit $ - - % $ - - % The components of the Company's net deferred tax asset are as follows: February 28, 2019 February 28, 2018 Accrued compensation $ 6,300 $ - Federal net operating loss carryforward 848,366 783,051 Total deferred tax assets 854,666 783,051 Deferred tax liability - - Net deferred tax asset 854,666 783,051 Valuation allowance (854,666 ) (783,051 ) $ - $ - Deferred income taxes arise from timing differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. A deferred tax asset valuation allowance is recorded when it is more likely than not not not 100% February 28, 2019 2018. On December 22, 2017, December 31, 2017. December 31, 2017 35% 21% $522,034 February 28, 2018, 35% 21%. At February 28, 2019, $4,040,000; $3,729,000 February 28, 2030 February 28, 2032. $311,000 80% The Company does not February 28, 2019 2018. not 12 February 28, 2017 February 28, 2019 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 9 – COMMITMENTS AND CONTINGENCIES On April 15, 2018, $50,000,000. 60% April 23, 2019, |
Note 10 - Common Stock
Note 10 - Common Stock | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10 – COMMON STOCK Common stock The Company is authorized to issue 495,000,000 $0.001 one Preferred stock The Company is authorized to issue 5,000,000 no no On December 13, 2017, 1,000,000 1,000,000 February 6, 2018, Common shares issued for cash On February 28, 2018, “2018 2018 $0.15. one one 2018 $0.15 twenty-four $125,000 833,333 February 28, 2018 not February 28, 2018. April 4, 2018. Common shares issued for services During the fiscal year ended February 28, 2018, 181,323 two 2018 $0.15, $27,198. not February 28, 2018 February 28, 2018. April 4, 2018. On April 4, 2018, 115,147 March April 2018. $0.15, $17,272. Common stock retirement On January 27, 2018, 5,000,000 10,000,000 $Nil. February 28, 2019. |
Note 11 - Stock Options
Note 11 - Stock Options | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 1 1 - STOCK OPTIONS Options issued for consulting services Prior to the fiscal year ended February 28, 2018, No February 28, 2019 2018. On March 15, 2018, 666,666 $0.40 $1.00 August 13, 2018 December 31, 2018. 333,334 On March 15, 2018, 1,100,000 $0.22 320,000 $1.00. August 13, 2018 December 31, 2018. The fair value of the options after modification of terms did not not 0.22 1.77%, 506.1%. 0.80 2.07%, 333.8%. On March 23, 2018, 1,000,000 666,666 $0.40 The following is a summary of the Company's options for consulting services issued and outstanding: For the year ended February 28, 2019 For the year ended February 28, 2018 Shares Price (a) Options Price (a) Beginning balance 4,100,000 $ 0.31 4,845,000 $ 0.32 Issued - - - - Forfeited or rescinded (2,113,334 ) 0.33 - - Expired (1,986,666 ) 0.61 (745,000 ) (0.40 ) Ending balance - $ - 4,100,000 $ 0.31 (a) Weighted average exercise price per shares Total expense under the option grants for consulting services was $Nil $83,461 February 28, 2019 2018, February 28, 2019 2018, no Options issued for land purchase option agreements During the fiscal year ended February 28, 2014, 5 February 28, 2018. |
Note 12 - Warrants
Note 12 - Warrants | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Warrants and Rights [Text Block] | NOTE 1 2 - WARRANTS On July 10, 2017, 500,000 $0.21 one March 2018, 500,000 $0.21 $1.00 June 9, 2020. On February 28, 2018, 833,333 833,333 two “2018 twenty-four $1.00. On February 28, 2018, 296,469 296,469 two 2018 On March 15, 2018, 500,000 $0.13 $1.00 The following is a summary of the Company's warrants issued and outstanding: For the year ended February 28, 2019 2018 Warrants Price (a) Warrants Price (a) Beginning balance 2,129,802 $ 0.61 1,177,934 $ 0.19 Issued - - 1,629,802 0.76 Exercised - - - - Expired - - (677,934 ) (0.19 ) Ending balance 2,129,802 $ 1.00 2,129,802 $ 0.61 (a) Weighted average exercise price per shares The following table summarizes additional information about the warrants granted by the Company as of February 28, 2019: Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ 1.00 0.72 July 10, 2017 500,000 500,000 1.00 1.28 February 28, 2018 1,129,802 1,129,802 1.00 1.00 Total warrants 2,129,802 2,129,802 $ 1.00 1.00 |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Feb. 28, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 3 – SUBSEQUENT EVENTS Windsor Consulting Engagement On April 9, 2019, $220,000 $10,000 April 12, 2019. $60,000. 210,000 three 3 $1.00 60,000 three 3 $1.00 October 7, 2019. No Power Up Convertible Note Payable In connection with the Peconic MOU, on April 9, 2019, $45,000. 12% April 9, 2020. 22%, 39% 20 October 7, 2020. June 18, 2019, 1934 $67,500 no Easy Energy Systems Inc. Memorandums of Understanding On April 2, 2019, 1” 1, 33% 67% 90 April 30, 2019, 1M, 2M, 5M On April 16, 2016 2” 2, 9.3 $10 2, $25,000 As of January 22, 2021, no Promissory Notes Payable On March 15, 2019, $5,000 8% 360 April 23, 2019. In April 2019, $12,500 $12,500 6% 360 225,000 450,000 $0.25 three Separately in April 2019, $3,325 $3,390 6% 360 25,000 $0.25 three In October 2019, $20,000 24 twenty-four 8% $0.05 Peconic Note Receivable On April 17, 2019, $30,000 18 12% 40% 100% 40% Rescission of IEC MOU On April 23, 2019, April 10, 2018 ( 9 Warrants In March April 2019, 1,925,000 $0.25 three Asset Swap Agreement On May 30, 2018, 100% 100,000 $250,000 two first second June 7, 2019. No no Private Placement – Raul Factor In furtherance of the June 28, 2019, July 8, 2019, 1 1 July 8, 2019, 1 25% 25% 50% $150,000 In connection with and as part of the foregoing joint venture transactions with JV- 1 July 11, 2019, $200,000, 1,000,000 1,000,000 $0.25 $150,000, 6 Pursuant to this June 28, 2019, 90 $10,000,000 not October 29, 2019, June 28, 2019 not Pursuant to these two $200,000 1,000,000 $0.20 1,000,000 18 1,000,000 $0.25 $150,000 6 Also, as part of the transactions contemplated by these agreements: (i) the stock purchase warrant issued on November 20, 2016, 500,000 No. 002” May 19, 2021 $0.25 June 9, 2017, March 15, 2018, 250,000 No. 003” December 9, 2021, $0.25 250,000 December 9, 2021, $0.25 500,000 $0.25 December 20, 2020; ( 500,000 $0.25 December 20, 2020. The sale of the Units and the warrants to Kevin Holinaty and Haaye de Jong, the principals of Raul Factor, who have represented that they are “accredited investors” and non-U.S. citizens and in offshore transactions, was made in reliance on Rule 506 Crowdfunding agreement with Funding OTC Corp. August 29, 2019, $1,000,000. $15,000 $37,500 $15,000 $22,500 no $22,500 no Proposed Stoughton Refinery The Company was not 2019 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 28, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“U.S.GAAP”). |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries FTPM Resources Ltd. and Dominion Energy Processing Group, Inc. after elimination of the intercompany accounts and transactions. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to long-lived asset impairments and stock-based compensation valuation. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations. |
Risks and Uncertainties [Policy Text Block] | Risks and uncertainties The Company's operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents The Company considers all highly liquid investments with original maturities of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments The Company's financial instruments include cash and cash equivalents, promissory notes payable, and promissory notes payable, related parties. All instruments are accounted for on a cost basis, which, due to the short maturity of these financial instruments, approximates fair value at February 28, 2019 February 28, 2018, |
Fair Value Measurement, Policy [Policy Text Block] | Fair value measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 At February 28, 2019 February 28, 2018, no |
Property, Plant and Equipment, Policy [Policy Text Block] | Long-Lived Assets The Company reviews long-lived assets which include a deposit on land purchase for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not may |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation The Company estimates the fair value of options to purchase common stock using the Black-Scholes model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time stock options will be held before they are exercised (“expected life”), the estimated volatility of the Company's common stock price over the expected term (“volatility”), forfeiture rate, the risk-free interest rate and the dividend yield. Changes in the subjective assumptions can materially affect the estimate of fair value of stock-based compensation. Options granted have a ten |
Income Tax, Policy [Policy Text Block] | Income taxes The Company accounts for income taxes using the liability method. The liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of (i) temporary differences between financial statement carrying amounts of assets and liabilities and their basis for tax purposes and (ii) operating loss and tax credit carryforwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when management concludes that it is more likely than not not |
Related Parties [Policy Text Block] | Related Parties In accordance with ASC 850 one may one one |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain reclassifications have been made to the prior year financial statements in order to compare to the current year financial statement presentation. These reclassifications have no |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In February 2016, No. 2016 02 842 December 15, 2018, March 1, 2019 no In August 2016, No. 2016 15 230 eight December 15, 2017, March 1, 2018 not In November 2016, No. 2016 18 230 December 15, 2017, no March 1, 2018. In January 2017, No. 2017 01 805 December 15, 2017, no March 1, 2018. In June 2018, No. 2018 07, No. 2018 07 December 15, 2018, Other accounting standards that have been issued or proposed by FASB that do not not not not |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | February 28, 2019 February 28, 2018 Stock options - 4,100,000 Warrants 2,129,802 2,129,802 TOTAL POSSIBLE DILUTION 2,129,802 6,229,802 |
Note 6 - Promissory Notes Pay_2
Note 6 - Promissory Notes Payable (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | February 28, 2019 February 28, 2018 0% unsecured note payable - December 2013, due on demand $ 2,000 $ 2,000 0% unsecured note payable - November 2015, due on demand 980 980 8% unsecured note payable - October 2018, due on demand 5,000 - TOTAL $ 7,980 $ 2,980 |
Note 7 - Promissory Notes Pay_2
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | February 28, 2019 February 28, 2018 0% unsecured note payable - October 2015, due on demand $ 2,300 $ 2,300 0% unsecured note payable – November 2015, due on demand 2,000 2,000 8% unsecured note payable - October 2018, due on demand 60,000 - TOTAL $ 64,300 $ 4,300 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | February 28, 2019 February 28, 2018 Amount computed using the statutory rate $ (71,776 ) (21 %) $ (146,874 ) (33 %) Non-deductible items 161 - % 29,225 7 % Effect of change in the statutory rate - 522,034 116 % Non-recognition due to increase in valuation account 71,615 21 % (404,385 ) (90 %) Total income tax benefit $ - - % $ - - % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | February 28, 2019 February 28, 2018 Accrued compensation $ 6,300 $ - Federal net operating loss carryforward 848,366 783,051 Total deferred tax assets 854,666 783,051 Deferred tax liability - - Net deferred tax asset 854,666 783,051 Valuation allowance (854,666 ) (783,051 ) $ - $ - |
Note 11 - Stock Options (Tables
Note 11 - Stock Options (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | For the year ended February 28, 2019 For the year ended February 28, 2018 Shares Price (a) Options Price (a) Beginning balance 4,100,000 $ 0.31 4,845,000 $ 0.32 Issued - - - - Forfeited or rescinded (2,113,334 ) 0.33 - - Expired (1,986,666 ) 0.61 (745,000 ) (0.40 ) Ending balance - $ - 4,100,000 $ 0.31 |
Note 12 - Warrants (Tables)
Note 12 - Warrants (Tables) | 12 Months Ended |
Feb. 28, 2019 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | For the year ended February 28, 2019 2018 Warrants Price (a) Warrants Price (a) Beginning balance 2,129,802 $ 0.61 1,177,934 $ 0.19 Issued - - 1,629,802 0.76 Exercised - - - - Expired - - (677,934 ) (0.19 ) Ending balance 2,129,802 $ 1.00 2,129,802 $ 0.61 |
Schedule of Warrants Granted [Table Text Block] | Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ 1.00 0.72 July 10, 2017 500,000 500,000 1.00 1.28 February 28, 2018 1,129,802 1,129,802 1.00 1.00 Total warrants 2,129,802 2,129,802 $ 1.00 1.00 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Share-based Payment Arrangement, Option [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |
Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details Textual) - USD ($) | Feb. 28, 2019 | Feb. 28, 2018 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (11,359,307) | $ (11,017,516) |
Working Capital (Deficit) | $ (322,218) |
Note 4 - Earnings Per Share - D
Note 4 - Earnings Per Share - Dilutive Effect of Outstanding Securities (Details) - shares | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Stock options (in shares) | 4,100,000 | |
Warrants (in shares) | 2,129,802 | 2,129,802 |
TOTAL POSSIBLE DILUTION (in shares) | 2,129,802 | 6,229,802 |
Note 5 - Other Assets (Details
Note 5 - Other Assets (Details Textual) - Land [Member] | Dec. 05, 2016USD ($) | Jun. 08, 2018CAD ($) | Dec. 05, 2016CAD ($) |
Purchase Price of Property | $ 525,000 | $ 500,000 | |
Payments for Deposits on Real Estate Acquisitions | $ 7,822 |
Note 6 - Promissory Notes Pay_3
Note 6 - Promissory Notes Payable (Details Textual) - The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | Oct. 31, 2018USD ($) |
Debt Instrument, Face Amount | $ 5,000 |
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |
Note 6 - Promissory Notes Pay_4
Note 6 - Promissory Notes Payable - Summary of Outstanding Notes Payable (Details) - USD ($) | Feb. 28, 2019 | Feb. 28, 2018 |
Promissory notes payable | $ 7,980 | $ 2,980 |
The 0 Percent Unsecured Note Payable Issued December 2013 [Member] | ||
Promissory notes payable | 2,000 | 2,000 |
The 0 Percent Unsecured Note Payable Issued November 2015 [Member] | ||
Promissory notes payable | 980 | 980 |
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | ||
Promissory notes payable | $ 5,000 |
Note 7 - Promissory Notes Pay_3
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Details Textual) - USD ($) | Jan. 01, 2019 | Dec. 31, 2019 | Feb. 28, 2019 | Dec. 31, 2018 | Oct. 31, 2018 | Feb. 28, 2018 |
Accounts Payable, Related Parties, Current | $ 183,185 | $ 28,444 | ||||
Advisory Company Owned by Former CEO [Member] | ||||||
Related Party Transaction, Monthly Management Fee | $ 15,000 | |||||
Accounts Payable, Related Parties, Current | 30,000 | |||||
Advisory Company Owned by Former CEO [Member] | Management Fee [Member] | ||||||
Due to Related Parties, Current, Total | 30,000 | $ 0 | ||||
Advisory Company Owned by Former CEO [Member] | Management Fee [Member] | Forecast [Member] | ||||||
Related Party Transaction, Disputed Amount | $ 150,000 | |||||
Officers and Directors [Member] | Reimbursement of Expenses [Member] | ||||||
Accounts Payable, Related Parties, Current | $ 153,185 | $ 28,444 | ||||
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | ||||||
Debt Instrument, Face Amount | $ 5,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | Limited Partnership in which Former Director is General Partner [Member] | ||||||
Debt Instrument, Face Amount | $ 60,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |
Note 7 - Promissory Notes Pay_4
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions - Outstanding Notes Payable, Related Party (Details) - USD ($) | Feb. 28, 2019 | Feb. 28, 2018 |
Promissory notes payable, related party | $ 64,300 | $ 4,300 |
The 0 Percent Unsecured Note Payable Issued December 2013 [Member] | ||
Promissory notes payable, related party | 2,300 | 2,300 |
The 0 Percent Unsecured Note Payable Issued November 2015 [Member] | ||
Promissory notes payable, related party | 2,000 | 2,000 |
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | ||
Promissory notes payable, related party | $ 60,000 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Tax Cuts and Jobs Act, Change in Tax Rate, Deferred Tax Asset, Income Tax Expense | 522,034 | |
Operating Loss Carryforwards, Total | 4,040,000 | |
Operating Loss Carryforwards, Subject to Expiration | 3,729,000 | |
Operating Loss Carryforwards, Not Subject to Expiration | 311,000 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 |
Open Tax Year | 2017 2018 2019 |
Note 8 - Income Taxes - Reconci
Note 8 - Income Taxes - Reconciliation of Income Tax Rate (Details) - USD ($) | 12 Months Ended | |
Feb. 28, 2019 | Feb. 28, 2018 | |
Amount computed using the statutory rate, amount | $ (71,776) | $ (146,874) |
Amount computed using the statutory rate, percent | (21.00%) | (33.00%) |
Non-deductible items, amount | $ 161 | $ 29,225 |
Non-deductible items, percent | 7.00% | |
Effect of change in the statutory rate, amount | $ 522,034 | |
Effect of change in the statutory rate, percent | 116.00% | |
Non-recognition due to increase in valuation account, amount | $ 71,615 | $ (404,385) |
Non-recognition due to increase in valuation account, percent | 21.00% | (90.00%) |
Total income tax benefit, amount | $ 0 | $ 0 |
Total income tax benefit, percent |
Note 8 - Income Taxes - Compone
Note 8 - Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) | Feb. 28, 2019 | Feb. 28, 2018 |
Accrued compensation | $ 6,300 | |
Federal net operating loss carryforward | 848,366 | 783,051 |
Total deferred tax assets | 854,666 | 783,051 |
Deferred tax liability | ||
Net deferred tax asset | 854,666 | 783,051 |
Valuation allowance | $ (854,666) | $ (783,051) |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) | Apr. 15, 2018USD ($) |
IEC Arizona, Inc [Member] | |
Merger Agreement, Percentage of Common Stock Outstanding to be Issued | 60.00% |
IEC Arizona, Inc [Member] | |
Merger Agreement, Total Capital Investment | $ 50,000,000 |
Note 10 - Common Stock (Details
Note 10 - Common Stock (Details Textual) | Apr. 04, 2018USD ($)$ / sharesshares | Jan. 27, 2018shares | Dec. 13, 2017shares | Feb. 28, 2019USD ($)$ / sharesshares | Feb. 28, 2018USD ($)$ / sharesshares | Mar. 31, 2018$ / shares | Jul. 10, 2017 | Feb. 28, 2017$ / shares | |
Common Stock, Shares Authorized (in shares) | 495,000,000 | 495,000,000 | |||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | |||||||
Common Stock, Voting Rights, Number of Votes Per Share | 1 | ||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | |||||||
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | $ 1 | $ 0.61 | $ 0.19 | |||||
Proceeds from Issuance of Private Placement | $ | $ 125,000 | ||||||||
Share Price (in dollars per share) | $ / shares | $ 0.15 | $ 0.15 | |||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 17,272 | ||||||||
Treasury Stock, Shares, Acquired (in shares) | 10,000,000 | ||||||||
Two Service Providers [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 181,323 | ||||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 27,198 | ||||||||
One Service Provider [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 115,147 | ||||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 17,272 | ||||||||
Former Chairman of the Board [Member] | |||||||||
Treasury Stock, Shares, Acquired (in shares) | 5,000,000 | ||||||||
Director [Member] | |||||||||
Treasury Stock, Shares, Acquired (in shares) | 5,000,000 | ||||||||
Warrants Issued in the 2018 Offering [Member] | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.15 | $ 1 | |||||||
Warrants and Rights Outstanding, Term (Month) | 2 years | 1 year | |||||||
Private Placement [Member] | |||||||||
Equity Offering, Units Issued, Price Per Share (in dollars per share) | $ / shares | $ 0.15 | ||||||||
Number of Shares Per Unit (in shares) | 1 | ||||||||
Number of Warrants Per Unit (in shares) | 1 | ||||||||
Equity Offering, Units Issued or Issuable (in shares) | 833,333 | ||||||||
Conversion of Series A Preferred Stock into Common Stock [Member] | |||||||||
Conversion of Stock, Shares Issued (in shares) | 1,000,000 | ||||||||
Conversion of Stock, Shares Converted (in shares) | 1,000,000 | ||||||||
[1] | Weighted average exercise price per shares |
Note 11 - Stock Options (Detail
Note 11 - Stock Options (Details Textual) - USD ($) | Mar. 23, 2018 | Mar. 15, 2018 | Mar. 14, 2018 | Feb. 28, 2019 | Feb. 28, 2018 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 292 days | 80 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.07% | 1.77% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 333.80% | 506.10% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 1,000,000 | 2,113,334 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Forfeitures, Number (in shares) | 666,666 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.40 | $ 0.33 | [1] | [1] | |||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 0 | $ 0 | |||||
Options with Original Exercise Price of $0.40 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 666,666 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 1 | $ 0.40 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares (in shares) | 333,334 | ||||||
Options with Original Exercise Price of $0.22 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 320,000 | 1,100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 1 | $ 0.22 | |||||
Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Payment Arrangement, Expense | $ 83,461 | ||||||
[1] | Weighted average exercise price per shares |
Note 11 - Stock Options - Summa
Note 11 - Stock Options - Summary of Options (Details) - $ / shares | Mar. 23, 2018 | Feb. 28, 2019 | Feb. 28, 2018 | |||
Beginning balance, options (in shares) | 4,100,000 | 4,845,000 | ||||
Beginning balance, price (in dollars per share) | [1] | $ 0.31 | $ 0.32 | |||
Issued, options (in shares) | 0 | 0 | ||||
Issued, price (in dollars per share) | [1] | |||||
Forfeited or rescinded, options (in shares) | (1,000,000) | (2,113,334) | ||||
Forfeited or rescinded, price (in dollars per share) | $ 0.40 | $ 0.33 | [1] | [1] | ||
Expired, options (in shares) | (1,986,666) | (745,000) | ||||
Expired, price (in dollars per share) | [1] | $ 0.61 | $ 0.40 | |||
Expired, price (in dollars per share) | [1] | $ (0.61) | $ (0.40) | |||
Ending balance, options (in shares) | 4,100,000 | |||||
Ending balance, price (in dollars per share) | [1] | $ 0.31 | ||||
[1] | Weighted average exercise price per shares |
Note 12 - Warrants (Details Tex
Note 12 - Warrants (Details Textual) - $ / shares | Feb. 28, 2018 | Jul. 10, 2017 | Feb. 28, 2019 | Feb. 28, 2018 | Mar. 31, 2018 | Mar. 15, 2018 | Mar. 14, 2018 | Feb. 28, 2017 | |
Class of Warrant or Right, Issued During Period (in shares) | 1,629,802 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | [1] | $ 0.76 | |||||||
Class of Warrant or Right, Outstanding (in shares) | 2,129,802 | 2,129,802 | 2,129,802 | 1,177,934 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.61 | $ 1 | $ 0.61 | $ 0.19 | ||||
Warrants Issued in the 2018 Offering [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 0.21 | ||||||||
Warrants and Rights Outstanding, Term (Month) | 2 years | 1 year | 2 years | ||||||
Class of Warrant or Right, Outstanding (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.15 | $ 0.15 | $ 1 | ||||||
Warrants Issued to Two Investors [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | 833,333 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 1 | ||||||||
Warrants and Rights Outstanding, Term (Month) | 2 years | 2 years | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 833,333 | 833,333 | |||||||
Warrants Issued to Two Service Providers [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | 296,469 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 296,469 | 296,469 | |||||||
Amended Warrants [Member] | |||||||||
Class of Warrant or Right, Outstanding (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | $ 0.13 | |||||||
[1] | Weighted average exercise price per shares |
Note 12 - Warrants - Summary of
Note 12 - Warrants - Summary of Warrants Issued and Outstanding (Details) - $ / shares | 12 Months Ended | ||
Feb. 28, 2019 | Feb. 28, 2018 | ||
Beginning balance (in shares) | 2,129,802 | 1,177,934 | |
Beginning balance (in dollars per share) | [1] | $ 0.61 | $ 0.19 |
Issued (in shares) | 1,629,802 | ||
Issued (in dollars per share) | [1] | $ 0.76 | |
Exercised (in shares) | |||
Exercised (in dollars per share) | [1] | ||
Expired (in shares) | (677,934) | ||
Expired (in dollars per share) | [1] | $ (0.19) | |
Ending balance (in shares) | 2,129,802 | 2,129,802 | |
Ending balance (in dollars per share) | [1] | $ 1 | $ 0.61 |
[1] | Weighted average exercise price per shares |
Note 12 - Warrants - Additional
Note 12 - Warrants - Additional Information About Warrants Granted (Details) - $ / shares | 12 Months Ended | |||
Feb. 28, 2019 | Feb. 28, 2018 | Feb. 28, 2017 | ||
Warrants outstanding (in shares) | 2,129,802 | 2,129,802 | 1,177,934 | |
Warrants exercisable (in shares) | 2,129,802 | |||
Warrants, price (in dollars per share) | [1] | $ 1 | $ 0.61 | $ 0.19 |
Warrants, remaining term (Year) | 1 year | |||
Warrants Granted November 19, 2016 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
Warrants, price (in dollars per share) | $ 1 | |||
Warrants, remaining term (Year) | 262 days | |||
Warrants Granted July 10, 2017 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
Warrants, price (in dollars per share) | $ 1 | |||
Warrants, remaining term (Year) | 1 year 102 days | |||
Warrants Granted February 28, 2018 [Member] | ||||
Warrants outstanding (in shares) | 1,129,802 | |||
Warrants exercisable (in shares) | 1,129,802 | |||
Warrants, price (in dollars per share) | $ 1 | |||
Warrants, remaining term (Year) | 1 year | |||
[1] | Weighted average exercise price per shares |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - USD ($) | Aug. 29, 2019 | Jul. 11, 2019 | Apr. 30, 2019 | Apr. 17, 2019 | Apr. 12, 2019 | Mar. 15, 2019 | Apr. 16, 2016 | Oct. 31, 2019 | Apr. 30, 2019 | Apr. 30, 2019 | Feb. 28, 2019 | Feb. 28, 2019 | Feb. 28, 2018 | Jul. 08, 2019 | Jun. 28, 2019 | Jun. 18, 2019 | Apr. 09, 2019 | Apr. 02, 2019 | May 30, 2018 | Feb. 28, 2017 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 1 | $ 1 | $ 0.61 | $ 0.19 | ||||||||||||||||
Proceeds from Notes Payable, Total | $ 5,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1,629,802 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | [1] | $ 0.76 | |||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 50,000 | ||||||||||||||||||||
Subsequent Event [Member] | EES - E and EETC [Member] | |||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||||||||||||||||
License and Operating Agreement, Aggregate Purchase Price, Licensing and Distribution | $ 150,000 | ||||||||||||||||||||
Subsequent Event [Member] | FTPM Resources, Inc. [Member] | |||||||||||||||||||||
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 33.00% | ||||||||||||||||||||
Subsequent Event [Member] | Easy Energy Systems, Inc. [Member] | |||||||||||||||||||||
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 67.00% | ||||||||||||||||||||
Subsequent Event [Member] | Easy Energy Systems, Inc. [Member] | EES - E and EETC [Member] | |||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||||||||||||||||
Subsequent Event [Member] | Raul Factor BV [Member] | EES - E and EETC [Member] | |||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||||||||||||
Subsequent Event [Member] | The Power Up Note [Member] | |||||||||||||||||||||
Debt Instrument, Face Amount | $ 45,000 | ||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||
Debt Instrument, Default Interest Rate | 22.00% | ||||||||||||||||||||
Debt Instrument, Convertible, Percentage of Discount on Lowest 20 Day Closing Price | 39.00% | ||||||||||||||||||||
Debt Instrument, Debt Default, Amount | $ 67,500 | ||||||||||||||||||||
Subsequent Event [Member] | The 8 Percent Promissory Note Issued March 15, 2019 [Member] | Director and Co-chairman of the Board [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||
Proceeds from Notes Payable, Total | $ 5,000 | ||||||||||||||||||||
Subsequent Event [Member] | The 6 Percent Promissory Notes Issued April 2019 Tranche One [Member] | Director and Co-chairman of the Board [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Proceeds from Notes Payable, Total | $ 12,500 | ||||||||||||||||||||
Subsequent Event [Member] | The 6 Percent Promissory Notes Issued April 2019 Tranche One [Member] | President, Treasurer and Director [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Proceeds from Notes Payable, Total | $ 12,500 | ||||||||||||||||||||
Subsequent Event [Member] | The 6 Percent Promissory Notes Issued April 2019, Tranche Two [Member] | Director and Co-chairman of the Board [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Proceeds from Notes Payable, Total | $ 3,325 | ||||||||||||||||||||
Subsequent Event [Member] | The 6 Percent Promissory Notes Issued April 2019, Tranche Two [Member] | President, Treasurer and Director [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Proceeds from Notes Payable, Total | $ 3,390 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants Issued With First Issuance of Promissory Notes in April 2019 [Member] | |||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | 3 years | 3 years | ||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 450,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants Issued With First Issuance of Promissory Notes in April 2019 [Member] | Director and Co-chairman of the Board [Member] | |||||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 225,000 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants Issued With First Issuance of Promissory Notes in April 2019 [Member] | President, Treasurer and Director [Member] | |||||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 225,000 | ||||||||||||||||||||
Subsequent Event [Member] | Incentive Warrants Issued to Officers, Directors and Other Individuals [Member] | |||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | 3 years | 3 years | ||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1,925,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants to Purchase Restricted Shares Issued to RF [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,000,000 | ||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 1 year 180 days | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Subsequent Event [Member] | Warrant Issued to Mr. Haaye de Jong [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants Issued to Mr. Kevin Holinaty in June 2019 [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Subsequent Event [Member] | Warrants Issued to Mr. Haaye de Jong in June 2019 [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Windsor Consulting Group [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Consulting Agreement, Maximum Cash Compensation | $ 220,000 | ||||||||||||||||||||
Payments for Consulting Agreement | $ 10,000 | ||||||||||||||||||||
Consulting Agreement, Debt Financing, Compensation | $ 60,000 | ||||||||||||||||||||
Windsor Consulting Group [Member] | Subsequent Event [Member] | Warrants Issue or Issuable Upon Completion of Qualified Transaction [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 210,000 | ||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||||||||||||||||
Windsor Consulting Group [Member] | Subsequent Event [Member] | Warrants Issue or Issuable Upon Completion of Debt Financing [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 60,000 | ||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||||||||||||||||
Easy Energy Systems, Inc. [Member] | |||||||||||||||||||||
Memorandum of Understanding, Anticipated Cost of Power Plant | $ 10,000,000 | ||||||||||||||||||||
Payments for Power Plant Under Memorandum of Understanding | $ 25,000 | ||||||||||||||||||||
Easy Energy Systems, Inc. [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Memorandum of Understanding, Option to Merge, Term (Day) | 90 days | ||||||||||||||||||||
Binding Letter of Intent, Capital to be Raised Within 90 Days | $ 10,000,000 | ||||||||||||||||||||
Mr. John Provacek [Member] | Subsequent Event [Member] | The 6 Percent Promissory Notes Issued April 2019, Tranche Two [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Proceeds from Notes Payable, Total | $ 3,325 | ||||||||||||||||||||
Mr. John Provacek [Member] | Subsequent Event [Member] | Warrants Issued With Second Issuance of Promissory Notes in April 2019 [Member] | |||||||||||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | 3 years | 3 years | ||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 25,000 | ||||||||||||||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Mr. Robert Udy [Member] | Subsequent Event [Member] | The 8 Percent Promissory Notes Issued October 2019 [Member] | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||
Proceeds from Notes Payable, Total | $ 20,000 | ||||||||||||||||||||
Debt Instrument, Term (Month) | 2 years | ||||||||||||||||||||
Debt Instrument, Interest, Restricted Shares Price (in dollars per share) | $ 0.05 | ||||||||||||||||||||
Peconic Energy, Inc. [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Payments to Acquire Notes Receivable | $ 30,000 | ||||||||||||||||||||
Notes Receivable, Term (Month) | 1 year 180 days | ||||||||||||||||||||
Notes Receivable, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||
Notes Receivable, Interest Rate, Percentage of Gross Revenues | 40.00% | ||||||||||||||||||||
Notes Receivable, Collateral, Percentage of Assets | 100.00% | ||||||||||||||||||||
Notes Receivable, Convertible, Percentage of Assets | 40.00% | ||||||||||||||||||||
Sellers [Member] | |||||||||||||||||||||
Swap Agreement, Loan Receivable | $ 250,000 | ||||||||||||||||||||
Payments to Acquire Loans Receivable | $ 0 | ||||||||||||||||||||
Sellers [Member] | Series W Preferred Stock [Member] | |||||||||||||||||||||
Swap Agreement, Restricted Shares to be Issued (in shares) | 100,000 | ||||||||||||||||||||
Sellers [Member] | WYOMING | |||||||||||||||||||||
Swap Agreement, Transferred, Percentage of Rights, Titles and Interests in Producing Oil, Gas and Mineral Leases | 100.00% | ||||||||||||||||||||
Raul Factor BV [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 200,000 | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000,000 | ||||||||||||||||||||
Equity Offering, Units Issued or Issuable (in shares) | 1,000,000 | ||||||||||||||||||||
Equity Offering, Units Issued, Price Per Share (in dollars per share) | $ 0.20 | ||||||||||||||||||||
Mr. Kevin Holinaty [Member] | Subsequent Event [Member] | Warrant No. 002 [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
Mr. Kevin Holinaty [Member] | Subsequent Event [Member] | Warrant No. 003 [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||||||||||||||
FundingOTC [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Crowdfunding Agreement, Approximate Investment Funds to Raise | $ 1,000,000 | ||||||||||||||||||||
Crowdfunding Agreement, Initial Engagement Fee | 15,000 | ||||||||||||||||||||
Crowdfunding Agreement, Total Monthly Fee | 37,500 | ||||||||||||||||||||
Crowdfunding Agreement, Monthly Fee Paid by Company | 15,000 | ||||||||||||||||||||
Crowdfunding Agreement, Monthly Fee from Funds Raised | $ 22,500 | ||||||||||||||||||||
[1] | Weighted average exercise price per shares |