Document And Entity Information
Document And Entity Information | 3 Months Ended |
May 31, 2020shares | |
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 | Yes |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Small Business | true |
Entity Interactive Data Current | Yes |
Entity Common Stock, Shares Outstanding (in shares) | 48,491,485 |
Entity Shell Company | false |
Document Type | 10-Q |
Document Period End Date | May 31, 2020 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
Title of 12(b) Security | Common stock, $0.001 Par Value |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | May 31, 2020 | Feb. 29, 2020 |
Current Assets | ||
Cash | $ 47 | $ 47 |
Total Current Assets | 47 | 47 |
Deposits | ||
Total Assets | 47 | 47 |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 155,267 | 147,888 |
Accounts Payable and Accrued Expenses - Related Parties | 176,837 | 176,837 |
Common Stock Payable | 200,000 | 200,000 |
Convertible Note Payable | 67,500 | 67,500 |
Derivative Liability | 117,744 | 138,185 |
Promissory Notes Payable | 76,305 | 76,305 |
Promissory notes payable, related party | 106,015 | 106,015 |
Total Current Liabilities | 899,668 | 912,730 |
Total Liabilities | 899,668 | 912,730 |
Stockholders' Deficit | ||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively | 48,491 | 48,491 |
Additional Paid-In-Capital | 11,449,681 | 11,449,681 |
Accumulated Deficit | (12,397,793) | (12,410,855) |
Total Stockholders' Deficit | (899,621) | (912,683) |
Total Liabilities and Stockholders' Deficit | $ 47 | $ 47 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) | Feb. 29, 2020$ / sharesshares |
Common stock, par value (in dollars per share) | $ / shares | $ 0.001 |
Common stock, shares authorized (in shares) | 495,000,000 |
Common stock, shares issued (in shares) | 48,491,485 |
Common stock, shares outstanding (in shares) | 48,491,485 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
May 31, 2020 | May 31, 2019 | |
Operating Expenses | ||
Advertising and Marketing | $ 592 | |
Management Fees and Consulting | 1,750 | |
General and Administrative | 30,208 | |
Professional Fees | 69,100 | |
Total Operating Expenses | 101,650 | |
Other (Income) and Expenses | ||
Bad Debts | 30,000 | |
(Gain) Loss on Derivative | (20,441) | 81,431 |
Interest Expense | 7,379 | 1,346 |
Interest Expense on Convertible Note Warrants | 276,682 | |
Total Other (Income) and Expenses | (13,062) | 389,459 |
Total Expenses | (13,062) | 491,109 |
(Income) Loss Before Income Tax Expense | 13,062 | (491,109) |
Income Tax Expense | ||
Net (Income) Loss for the Period | $ 13,062 | $ (491,109) |
Weighted Average Number of Common Shares - | ||
Basic and Diluted (in shares) | 48,491,485 | 48,383,148 |
Net (Income) Loss for the Period Per Common Shares - | ||
Basic and Diluted (in dollars per share) | $ 0 | $ (0.01) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
May 31, 2020 | May 31, 2019 | |
Cash Flows from Operating Activities | ||
Net (Income) Loss for the Period | $ 13,062 | $ (491,109) |
Non-Cash Adjustments: | ||
Bad Debts | 30,000 | |
Deposits Written Off | 7,822 | |
(Gain) Loss on Derivative | (20,441) | 81,431 |
Interest Expense on Convertible Note Warrants | 276,682 | |
Changes in Assets and Liabilities: | ||
Notes Receivable | (30,000) | |
Accounts Payable and Accrued Expenses | 7,379 | 65,855 |
Accounts Payable and Accrued Expenses - Related Parties | (19,718) | |
Net Cash Flows Used In Operating Activities | (79,037) | |
Cash Flows from Investing Activities | ||
Cash Flows from Financing Activities | ||
Proceeds from Notes Payable | 3,325 | |
Cash Proceeds Received from Convertible Note Payable | 45,000 | |
Proceeds from Notes Payable - Related Parties | 31,715 | |
Net Cash Flows Provided by Financing Activities | 80,040 | |
Net Change in Cash | 1,003 | |
Cash - Beginning of Period | 47 | 1,578 |
Cash - End of Period | 47 | 2,581 |
Cash Paid During the Period for: | ||
Interest | ||
Income Taxes |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
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) |
Value of Warrants for Convertible Note | 276,682 | 276,682 | ||
Net (Income) Loss for the Period | (491,109) | (491,109) | ||
Balance (in shares) at May. 31, 2019 | 48,491,485 | |||
Balance at May. 31, 2019 | $ 48,491 | 11,273,102 | (11,850,416) | (528,823) |
Balance (in shares) at Feb. 29, 2020 | 48,491,485 | |||
Balance at Feb. 29, 2020 | $ 48,491 | 11,449,681 | (12,410,855) | (912,683) |
Net (Income) Loss for the Period | 13,062 | 13,062 | ||
Balance (in shares) at May. 31, 2020 | 48,491,485 | |||
Balance at May. 31, 2020 | $ 48,491 | $ 11,449,681 | $ (12,397,793) | $ (899,621) |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 3 Months Ended |
May 31, 2020 | |
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 | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Basis of Presentation The accompanying condensed consolidated balance sheet has been derived from the February 29, 2020 May 31, 2020 2019, 10 8 X. not 10 February 29, 2020 “2019 three May 31, 2020, not February 28, 2021. Principles of Consolidation The condensed 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 conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 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 May 31, 2020 February 29, 2020, 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 May 31, 2020 February 29, 2020, 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 Related Parties In accordance with ASC 850 one may one one New Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and is evaluating any that may not not |
Note 3 - Going Concern
Note 3 - Going Concern | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN These condensed 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 May 31, 2020 February 29, 2020, May 31, 2020 February 29, 2020. no |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 EARNINGS PER SHARE 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 May 31, 2020 February 29, 2020, May 31, 2020 February 29, 2020 Warrants 3,925,000 3,925,000 TOTAL POSSIBLE DILUTION 3,925,000 3,925,000 At May 31, 2020 February 29, 2020, |
Note 5 - Other Assets
Note 5 - Other Assets | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 5 OTHER ASSETS Peconic Note Receivable On April 17, 2019, $30,000 18 12% 40% 100% 40% May 31, 2019, $30,000 May 31, 2019. 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 May 31, 2019, 13 $7,822 |
Note 6 - Promissory and Convert
Note 6 - Promissory and Convertible Notes Payable | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6 PROMISSORY and CONVERTIBLE NOTES PAYABLE The Company's outstanding notes payable are summarized as follows: May 31, 2020 February 29 2020 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 5,000 6% unsecured note payable – April 2019, due on demand 3,325 3,325 8% unsecured notes payable - October 2019, due on demand 65,000 65,000 Total Notes Payable $ 76,305 $ 76,305 Interest expense for the three May 31, 2020 2019 $1,953 $215, Convertible note payable consists of one $67,500 May 31, 2020 February 29, 2020, April 2019 $45,000 12% April 2020. 150% 22%. three May 31, 2020 2019 $3,713 $900, May 31, 2020. $0.0365, 39% 20 312.14%. 0.170%. May 31, 2020 $117,744 three May 31, 2020 2019 20,441 $81,431, The conversion option expires on October 7, 2020. June 18, 2019, 1934 $67,500 April 2021 $70,200. |
Note 7 - Promissory Notes Payab
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions | 3 Months Ended |
May 31, 2020 | |
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: May 31, 2020 February 29, 2020 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 60,000 6% unsecured note payable – April 2019, due on demand 15,825 15,825 6% unsecured note payable – April 2019, due on demand 15,890 15,890 8% unsecured note payable - October 2019, due on demand 10,000 10,000 TOTAL $ 106,015 $ 106,015 Interest expense for the three May 31, 2020 2019 $1,713 $213, Starting January 1, 2019, $15,000 February 28, 2019, $30,000 February 28, 2019. February 28, 2019, no no December 31, 2018. no $30,000 $150,000, 10 ten 2019. May 31, 2020 February 29, 2020 $17,868 $17,868, 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 $158,969 $158,969 May 31, 2020 February 29, 2020, |
Note 8 - Common Stock
Note 8 - Common Stock | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 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 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. May 31, 2020. |
Note 9 - Warrants
Note 9 - Warrants | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Warrants and Rights [Text Block] | NOTE 9 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 On March 20, 2019 April 17, 2019, 1,250,000 675,000 1,925,000 eight thirty-six $0.25. March 20 April 17, 2019 $200,439 $76,243 $276,682 three May 31, 2019. $0.25, 228% 2.34% 2.37%. The following is a summary of the Company's warrants issued and outstanding: –– May 31, 2020 February 28, 2020 Warrants Price (a) Warrants Price (a) Beginning balance 3,925,000 $ .25 2,129,802 $ 1.00 Issued –– –– 2,925,000 .19 Exercised –– –– –– –– Expired –– –– (1,129,802 ) –– Ending balance 3,925,000 $ 0.25 3,925,000 $ .25 (a) Weighted average exercise price per shares The following table summarizes additional information about the warrants granted by the Company as of May 31, 2020 February 29, 2020: Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ .25 0.97 July 10, 2017 500,000 500,000 .25 1.58 March 20, 2019 1,250,000 1,250,000 .25 1.80 April 17, 2019 675,000 675,000 .25 1.88 June 28, 2019 1,000,000 1,000,000 .25 .58 Total warrants 3,925,000 3,925,000 $ .25 1.22 |
Note 10 - Other Matters - Joint
Note 10 - Other Matters - Joint Venture | 3 Months Ended |
May 31, 2020 | |
Notes to Financial Statements | |
Other Matters [Text Block] | NOTE 10 OTHER MATTERS- Joint Venture 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 $25,000 February 29, 2020. As of May 9, 2021, 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 February 29, 2020, not Private Placement – Raul Factor - continued 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 EETC. Also, EES agreed to contribute its module technologies developed by or available via license agreements from others to EES further on to EES-E via license agreements conforming to the terms set forth in these License and Operating Agreements. Raul Factor also agreed to fund additional capital requirements. 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. ( 9 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 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
May 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated balance sheet has been derived from the February 29, 2020 May 31, 2020 2019, 10 8 X. not 10 February 29, 2020 “2019 three May 31, 2020, not February 28, 2021. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed 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 conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
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 May 31, 2020 February 29, 2020, 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 May 31, 2020 February 29, 2020, 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 |
Related Parties [Policy Text Block] | Related Parties In accordance with ASC 850 one may one one |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and is evaluating any that may not not |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 3 Months Ended |
May 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | May 31, 2020 February 29, 2020 Warrants 3,925,000 3,925,000 TOTAL POSSIBLE DILUTION 3,925,000 3,925,000 |
Note 6 - Promissory and Conve_2
Note 6 - Promissory and Convertible Notes Payable (Tables) | 3 Months Ended |
May 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | May 31, 2020 February 29 2020 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 5,000 6% unsecured note payable – April 2019, due on demand 3,325 3,325 8% unsecured notes payable - October 2019, due on demand 65,000 65,000 Total Notes Payable $ 76,305 $ 76,305 |
Note 7 - Promissory Notes Pay_2
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Tables) | 3 Months Ended |
May 31, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | May 31, 2020 February 29, 2020 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 60,000 6% unsecured note payable – April 2019, due on demand 15,825 15,825 6% unsecured note payable – April 2019, due on demand 15,890 15,890 8% unsecured note payable - October 2019, due on demand 10,000 10,000 TOTAL $ 106,015 $ 106,015 |
Note 9 - Warrants (Tables)
Note 9 - Warrants (Tables) | 3 Months Ended |
May 31, 2020 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | May 31, 2020 February 28, 2020 Warrants Price (a) Warrants Price (a) Beginning balance 3,925,000 $ .25 2,129,802 $ 1.00 Issued –– –– 2,925,000 .19 Exercised –– –– –– –– Expired –– –– (1,129,802 ) –– Ending balance 3,925,000 $ 0.25 3,925,000 $ .25 |
Schedule of Warrants Granted [Table Text Block] | Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ .25 0.97 July 10, 2017 500,000 500,000 .25 1.58 March 20, 2019 1,250,000 1,250,000 .25 1.80 April 17, 2019 675,000 675,000 .25 1.88 June 28, 2019 1,000,000 1,000,000 .25 .58 Total warrants 3,925,000 3,925,000 $ .25 1.22 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
May 31, 2020 | Feb. 29, 2020 | |
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 4 - Earnings Per Share - D
Note 4 - Earnings Per Share - Dilutive Effect of Outstanding Securities (Details) - shares | 3 Months Ended | 12 Months Ended |
May 31, 2020 | Feb. 29, 2020 | |
Warrants (in shares) | 3,925,000 | 3,925,000 |
TOTAL POSSIBLE DILUTION (in shares) | 3,925,000 | 3,925,000 |
Note 5 - Other Assets (Details
Note 5 - Other Assets (Details Textual) | Apr. 17, 2019USD ($) | Dec. 05, 2016USD ($) | May 31, 2020USD ($) | May 31, 2019USD ($) | Jun. 08, 2018CAD ($) | Dec. 05, 2016CAD ($) |
Deposits Written Off | $ 7,822 | |||||
Land [Member] | ||||||
Purchase Price of Property | $ 525,000 | $ 500,000 | ||||
Payments for Deposits on Real Estate Acquisitions | $ 7,822 | |||||
Deposits Written Off | 7,822 | |||||
Peconic Energy, Inc. [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% | |||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 30,000 |
Note 6 - Promissory and Conve_3
Note 6 - Promissory and Convertible Notes Payable (Details Textual) | 3 Months Ended | |||||
May 31, 2020USD ($) | May 31, 2019USD ($) | Apr. 30, 2021USD ($) | Feb. 29, 2020USD ($) | Jun. 18, 2019USD ($) | Apr. 30, 2019USD ($) | |
Interest Expense, Total | $ 7,379 | $ 1,346 | ||||
Convertible Notes Payable, Current | 67,500 | $ 67,500 | ||||
Derivative Liability, Current | 117,744 | 138,185 | ||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | 20,441 | (81,431) | ||||
The Power Up Note [Member] | ||||||
Debt Instrument, Debt Default, Amount | $ 67,500 | |||||
The Power Up Note [Member] | Subsequent Event [Member] | ||||||
Long-term Debt, Total | $ 70,200 | |||||
Unsecured Debt [Member] | ||||||
Interest Expense, Total | 1,953 | 215 | ||||
Convertible Notes Payable [Member] | ||||||
Interest Expense, Total | 3,713 | $ 900 | ||||
Convertible Notes Payable, Current | $ 67,500 | $ 67,500 | $ 45,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||
Debt Instrument, Default Interest Rate | 22.00% | |||||
Convertible Notes Payable [Member] | Measurement Input, Share Price [Member] | ||||||
Debt Instrument, Measurement Input | 0.0365 | |||||
Convertible Notes Payable [Member] | Measurement Input, Exercise Price [Member] | ||||||
Debt Instrument, Measurement Input | 0.39 | |||||
Convertible Notes Payable [Member] | Measurement Input, Price Volatility [Member] | ||||||
Debt Instrument, Measurement Input | 3.1214 | |||||
Convertible Notes Payable [Member] | Measurement Input, Discount Rate [Member] | ||||||
Debt Instrument, Measurement Input | 0.0017 |
Note 6 - Promissory and Conve_4
Note 6 - Promissory and Convertible Notes Payable - Summary of Outstanding Notes Payable (Details) - USD ($) | May 31, 2020 | Feb. 29, 2020 |
Promissory notes payable | $ 76,305 | $ 76,305 |
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 2015 [Member] | ||
Promissory notes payable | 5,000 | 5,000 |
The 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable | 3,325 | 3,325 |
The 8 Percent Promissory Notes Issued October 2019 [Member] | ||
Promissory notes payable | $ 65,000 | $ 65,000 |
Note 7 - Promissory Notes Pay_3
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Details Textual) - USD ($) | Jan. 01, 2019 | May 31, 2020 | May 31, 2019 | May 31, 2020 | Feb. 29, 2020 | Feb. 28, 2019 |
Interest Expense, Total | $ 7,379 | $ 1,346 | ||||
Accounts Payable, Related Parties, Current | 176,837 | $ 176,837 | $ 176,837 | |||
Advisory Company Owned by Former CEO [Member] | ||||||
Interest Expense, Total | 1,713 | $ 213 | ||||
Related Party Transaction, Monthly Management Fee | $ 15,000 | |||||
Accounts Payable, Related Parties, Current | 17,868 | 17,868 | 17,868 | $ 30,000 | ||
Advisory Company Owned by Former CEO [Member] | Management Fee [Member] | ||||||
Due to Related Parties, Current, Total | $ 30,000 | |||||
Related Party Transaction, Amounts of Transaction | 0 | |||||
Related Party Transaction, Disputed Amount | 150,000 | 150,000 | ||||
Advisory Company Owned by Former CEO [Member] | Reimbursement of Expenses [Member] | ||||||
Accounts Payable, Related Parties, Current | $ 158,969 | $ 158,969 | $ 158,969 |
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 ($) | May 31, 2020 | Feb. 29, 2020 |
Promissory notes payable, related party | $ 106,015 | $ 106,015 |
The 0 Percent Unsecured Note Payable Issued October 2015 [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 | 60,000 |
The 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable, related party | 15,825 | 15,825 |
The Second 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable, related party | 15,890 | 15,890 |
The 8 Percent Promissory Notes Issued October 2019 [Member] | ||
Promissory notes payable, related party | $ 10,000 | $ 10,000 |
Note 8 - Common Stock (Details
Note 8 - Common Stock (Details Textual) | Apr. 04, 2018USD ($)$ / sharesshares | Jan. 27, 2018USD ($)shares | Feb. 28, 2018USD ($)$ / sharesshares | May 31, 2020$ / sharesshares | Feb. 29, 2020$ / sharesshares | Feb. 28, 2019$ / shares | Jul. 10, 2017 | |
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 | |||||||
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] | $ 0.25 | $ 0.25 | $ 1 | ||||
Proceeds from Issuance of Private Placement | $ | $ 125,000 | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 833,333 | |||||||
Share Price (in dollars per share) | $ / shares | $ 0.15 | $ 0.15 | ||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 10,000,000 | |||||||
Stock Repurchased and Retired During Period, Value | $ | $ 0 | |||||||
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] | ||||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 5,000,000 | |||||||
Director [Member] | ||||||||
Stock Repurchased and Retired During Period, Shares (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 | |||||||
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 | |||||||
[1] | Weighted average exercise price per shares |
Note 9 - Warrants (Details Text
Note 9 - Warrants (Details Textual) | Apr. 17, 2019USD ($)$ / sharesshares | Mar. 20, 2019USD ($)shares | Mar. 31, 2018$ / sharesshares | Feb. 28, 2018$ / sharesshares | Feb. 08, 2018shares | Jul. 10, 2017$ / sharesshares | May 31, 2020$ / sharesshares | Feb. 29, 2020$ / sharesshares | Feb. 28, 2019$ / sharesshares | Mar. 15, 2018$ / sharesshares | Mar. 14, 2018$ / shares | |
Class of Warrant or Right, Issued During Period (in shares) | 2,925,000 | |||||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ / shares | [1] | $ 0.19 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | [1] | $ 0.25 | $ 0.25 | $ 1 | ||||||||
Class of Warrant or Right, Outstanding (in shares) | 3,925,000 | 3,925,000 | 2,129,802 | |||||||||
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) | $ / shares | $ 0.21 | |||||||||||
Warrants and Rights Outstanding, Term (Month) | 2 years | 1 year | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.15 | |||||||||||
Amended Warrants With An Expiration Date of June 9, 2020 [Member] | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 500,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 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) | $ / shares | $ 1 | |||||||||||
Warrants and Rights Outstanding, Term (Month) | 2 years | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 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 | |||||||||||
Amended Warrants [Member] | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1 | $ 0.13 | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 500,000 | |||||||||||
Warrants Granted March 20, 2019 [Member] | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 1,250,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.25 | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 1,250,000 | |||||||||||
Warrants and Rights Outstanding | $ | $ 200,439 | |||||||||||
Warrants Granted April 17, 2019 [Member] | ||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | 675,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.25 | |||||||||||
Class of Warrant or Right, Outstanding (in shares) | 675,000 | |||||||||||
Warrants and Rights Outstanding | $ | $ 76,243 | |||||||||||
Warrants Issued to Eight Investors [Member] | ||||||||||||
Warrants and Rights Outstanding, Term (Month) | 3 years | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.25 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,925,000 | |||||||||||
Warrants and Rights Outstanding | $ | $ 276,682 | |||||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Exercise Price [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.25 | |||||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 2.28 | |||||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0234 | |||||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | ||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0.0237 | |||||||||||
[1] | Weighted average exercise price per shares |
Note 9 - Warrants - Summary of
Note 9 - Warrants - Summary of Warrants Issued and Outstanding (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
May 31, 2020 | Feb. 29, 2020 | ||
Beginning balance (in shares) | 3,925,000 | 2,129,802 | |
Beginning balance (in dollars per share) | [1] | $ 0.25 | $ 1 |
Issued (in shares) | 2,925,000 | ||
Issued (in dollars per share) | [1] | $ 0.19 | |
Exercised (in shares) | |||
Exercised (in dollars per share) | [1] | ||
Expired (in shares) | (1,129,802) | ||
Expired (in dollars per share) | [1] | ||
Ending balance (in shares) | 3,925,000 | 3,925,000 | |
Ending balance (in dollars per share) | [1] | $ 0.25 | $ 0.25 |
[1] | Weighted average exercise price per shares |
Note 9 - Warrants - Additional
Note 9 - Warrants - Additional Information About Warrants Granted (Details) - $ / shares | 3 Months Ended | |||
May 31, 2020 | Feb. 29, 2020 | Feb. 28, 2019 | ||
Warrants outstanding (in shares) | 3,925,000 | 3,925,000 | 2,129,802 | |
Warrants exercisable (in shares) | 3,925,000 | |||
Warrants, price (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 1 |
Warrants, remaining term (Year) | 1 year 80 days | |||
Warrants Granted November 19, 2016 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 354 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) | $ 0.25 | |||
Warrants, remaining term (Year) | 1 year 211 days | |||
Warrants Granted March 20, 2019 [Member] | ||||
Warrants outstanding (in shares) | 1,250,000 | |||
Warrants exercisable (in shares) | 1,250,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 1 year 292 days | |||
Warrants Granted April 17, 2019 [Member] | ||||
Warrants outstanding (in shares) | 675,000 | |||
Warrants exercisable (in shares) | 675,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 1 year 321 days | |||
Warrants Granted June 28, 2019 [Member] | ||||
Warrants outstanding (in shares) | 1,000,000 | |||
Warrants exercisable (in shares) | 1,000,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 211 days | |||
[1] | Weighted average exercise price per shares |
Note 10 - Other Matters - Joi_2
Note 10 - Other Matters - Joint Venture (Details Textual) - USD ($) | Jul. 11, 2019 | Apr. 02, 2019 | Apr. 04, 2018 | Apr. 16, 2016 | May 31, 2020 | Feb. 29, 2020 | Jul. 08, 2019 | Jun. 28, 2019 | Feb. 28, 2019 | |
Stock Issued During Period, Shares, New Issues (in shares) | 833,333 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 1 | ||||||
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 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | |||||||||
Warrants and Rights Outstanding, Term (Month) | 1 year 180 days | |||||||||
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 | |||||||||
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 | |||||||||
EES - E and EETC [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 25.00% | |||||||||
License and Operating Agreement, Aggregate Purchase Price, Licensing and Distribution | $ 150,000 | |||||||||
Easy Energy Systems, Inc. [Member] | ||||||||||
Memorandum of Understanding, Option to Merge, Term (Day) | 90 days | |||||||||
Memorandum of Understanding, Anticipated Cost of Power Plant | $ 10,000,000 | |||||||||
Payments for Power Plant Under Memorandum of Understanding | $ 25,000 | |||||||||
Binding Letter of Intent, Capital to be Raised Within 90 Days | $ 10,000,000 | |||||||||
Easy Energy Systems, Inc. [Member] | General and Administrative Expense [Member] | ||||||||||
Memorandum of Understanding, Power Plant Expense | $ 25,000 | |||||||||
Raul Factor BV [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] | 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] | 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 | |||||||||
FTPM Resources, Inc. [Member] | ||||||||||
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 33.00% | |||||||||
Easy Energy Systems, Inc. [Member] | ||||||||||
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 67.00% | |||||||||
Easy Energy Systems, Inc. [Member] | EES - E and EETC [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 25.00% | |||||||||
Raul Factor BV [Member] | EES - E and EETC [Member] | ||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||||||
[1] | Weighted average exercise price per shares |