Cover
Cover | 9 Months Ended |
Nov. 30, 2023 | |
Entity Addresses [Line Items] | |
Document Type | S-1 |
Amendment Flag | false |
Entity Registrant Name | ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
Entity Central Index Key | 0001498148 |
Entity Tax Identification Number | 27-2343603 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 10800 Galaxie Avenue |
Entity Address, City or Town | Ferndale |
Entity Address, State or Province | MI |
Entity Address, Postal Zip Code | 48220 |
City Area Code | (877) |
Local Phone Number | 787-6268 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | 10800 Galaxie Avenue |
Entity Address, City or Town | Ferndale |
Entity Address, State or Province | MI |
Entity Address, Postal Zip Code | 48220 |
City Area Code | (877) |
Local Phone Number | 787-6268 |
Contact Personnel Name | Steven Reinharz |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | |
Current assets: | ||||
Cash | $ 97,478 | $ 939,759 | [1] | $ 4,648,146 |
Accounts receivable, net | 505,438 | 265,024 | [1] | 429,469 |
Device parts inventory, net | 2,220,159 | 1,637,899 | [1] | 1,530,657 |
Prepaid expenses and deposits | 691,240 | 596,310 | [1] | 442,164 |
Total current assets | 3,514,315 | 3,438,992 | [1] | 7,050,436 |
Operating lease asset | 1,115,447 | 1,208,440 | [1] | 1,331,605 |
Revenue earning devices, net of accumulated depreciation of $778,839 and $434,661, respectively | 2,111,896 | 1,235,219 | [1] | 709,063 |
Fixed assets, net of accumulated depreciation of $182,002 and $49,065, respectively | 300,300 | 315,888 | [1] | 137,952 |
Trademarks | 27,080 | 27,080 | [1] | 28,723 |
Investment at cost | 50,000 | 50,000 | [1] | |
Security deposit | 17,380 | 21,239 | [1] | 21,239 |
Total assets | 7,136,418 | 6,296,858 | [1] | 9,279,018 |
Current liabilities: | ||||
Accounts payable and accrued expenses | 1,539,601 | 1,343,379 | [1] | 968,853 |
Advances payable- related party | 1,594 | 1,594 | [1] | 1,594 |
Customer deposits | 78,467 | 9,900 | [1] | 10,000 |
Current operating lease liability | 229,016 | 248,670 | [1] | 254,027 |
Current portion of deferred variable payment obligation | 764,702 | 542,177 | [1] | 325,600 |
Current portion of convertible notes payable, net of discount of $0 and $0, respectively | 3,500 | |||
Loan payable - related party | 299,286 | 206,516 | [1] | 193,556 |
Incentive compensation plan payable | 1,166,000 | 979,000 | [1] | 479,500 |
Current portion of loans payable, net of discount of $1,651,597 and $14,745 | 8,349,678 | 9,918,389 | [1] | 1,004,708 |
Vehicle loan - current portion | 38,522 | 38,522 | [1] | 38,522 |
Current portion of accrued interest payable | 3,992,259 | 2,761,446 | [1] | 1,260,271 |
Derivative liability | 7,587 | |||
Total current liabilities | 16,459,125 | 16,049,593 | [1] | 4,547,718 |
Non-current operating lease liability | 881,816 | 950,541 | [1] | 1,057,579 |
Loans payable, net of discount of $4,130,291 and $4,905,076, respectively | 18,688,471 | 15,554,069 | [1] | 20,309,069 |
Deferred variable payment obligation | 2,525,000 | 2,525,000 | [1] | 2,525,000 |
Accrued interest payable | 4,774,660 | 3,060,656 | [1] | 1,816,009 |
Total liabilities | 43,329,072 | 38,139,859 | [1] | 30,255,375 |
Commitments and Contingencies | ||||
Stockholders’ deficit: | ||||
Preferred Stock value | [1] | |||
Common Stock, $0.00001 par value; 7,225,000,000 shares authorized 5,848,741,599 and 4,735,210,360 shares issued, issuable and outstanding, respectively | 77,152 | 58,489 | [1] | 47,353 |
Additional paid-in capital | 89,160,341 | 80,247,252 | [1] | 73,015,576 |
Preferred stock to be issued | 99,086 | 99,086 | [1] | 99,086 |
Accumulated deficit | (125,535,116) | (112,253,711) | [1] | (94,144,254) |
Total stockholders’ deficit | (36,192,654) | (31,843,001) | [1] | (20,976,357) |
Total liabilities and stockholders’ deficit | 7,136,418 | 6,296,858 | [1] | 9,279,018 |
Series G Preferred Stock [Member] | ||||
Stockholders’ deficit: | ||||
Preferred Stock value | [1] | |||
Series E Preferred Stock [Member] | ||||
Stockholders’ deficit: | ||||
Preferred Stock value | 3,350 | 3,350 | [1] | 3,350 |
Series F Preferred Stock [Member] | ||||
Stockholders’ deficit: | ||||
Preferred Stock value | $ 2,533 | $ 2,533 | [1] | $ 2,532 |
[1]Derived from audited information |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 |
Accumulated depreciation, revenue earning devices | $ 1,209,664 | $ 779,839 | $ 434,661 |
Accumulated depreciation, fixed assets | 326,921 | 182,002 | 49,065 |
Discount of current portion of loans payable | 1,129,801 | 1,651,597 | 14,745 |
Discount of loans payable | $ 4,305,396 | $ 4,130,291 | $ 4,905,076 |
Preferred stock, shares authorized | 15,545,650 | 15,545,650 | 15,545,650 |
Preferred stock, shares issued | 0 | 0 | |
Preferred stock, shares outstanding | 0 | 0 | |
Common stock, par value | $ 0.00001 | $ 0.00001 | $ 0.00001 |
Common stock, authorized | 10,000,000,000 | 10,000,000,000 | 7,225,000,000 |
Common stock, shares, issued | 7,715,143,227 | 5,848,741,599 | 4,735,210,360 |
Common stock, shares, outstanding | 7,715,143,227 | 5,848,741,599 | 4,735,210,360 |
Discount of current portion of convertible notes payable | $ 0 | ||
Series G Preferred Stock [Member] | |||
Preferred stock, shares authorized | 100,000 | 100,000 | 100,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Series E Preferred Stock [Member] | |||
Preferred stock, shares authorized | 4,350,000 | 4,350,000 | 4,350,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 3,350,000 | 3,350,000 | 3,350,000 |
Preferred stock, shares outstanding | 3,350,000 | 3,350,000 | 3,350,000 |
Series F Preferred Stock [Member] | |||
Preferred stock, shares authorized | 4,350 | 4,350 | 4,350 |
Preferred stock, par value | $ 1 | $ 1 | $ 1 |
Preferred stock, shares issued | 2,533 | 2,533 | 2,532 |
Preferred stock, shares outstanding | 2,533 | 2,533 | 2,532 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Income Statement [Abstract] | ||||||
Revenues | $ 596,980 | $ 402,399 | $ 1,368,551 | $ 1,055,040 | $ 1,331,956 | $ 1,447,109 |
Cost of Goods Sold | 135,914 | 125,960 | 316,439 | 453,898 | 678,073 | 472,926 |
Gross Profit | 461,066 | 276,439 | 1,052,112 | 601,142 | 653,883 | 974,183 |
Operating expenses: | ||||||
Research and development | 557,126 | 813,313 | 2,243,431 | 2,800,834 | 3,625,468 | 2,961,394 |
General and administrative | 2,009,047 | 2,123,768 | 6,423,951 | 6,762,602 | 8,980,709 | 10,905,129 |
Depreciation and amortization | 215,763 | 92,855 | 574,746 | 332,643 | 478,115 | 232,886 |
Operating lease cost and rent | 64,081 | 61,005 | 189,164 | 194,653 | 260,271 | 275,785 |
(Gain) loss on disposal of fixed assets | (29,125) | |||||
Total operating expenses | 2,846,017 | 3,090,941 | 9,431,292 | 10,090,732 | 13,344,563 | 14,346,069 |
Loss from operations | (2,384,951) | (2,814,502) | (8,379,180) | (9,489,590) | (12,690,680) | (13,371,886) |
Other income (expense), net: | ||||||
Change in fair value of derivative liabilities | 3,595 | 3,595 | 372,214 | |||
Interest expense | (1,581,533) | (1,271,158) | (4,940,965) | (3,448,208) | (5,426,364) | (16,129,499) |
Gain (loss) on settlement of debt | 38,740 | 3,992 | 3,992 | (33,068,313) | ||
Total other income (expense), net | (1,581,533) | (1,271,158) | (4,902,225) | (3,440,621) | (5,418,777) | (48,825,598) |
Net income (loss) | $ (3,966,484) | $ (4,085,660) | $ (13,281,405) | $ (12,930,211) | $ (18,109,457) | $ (62,197,484) |
Net income (loss) per share - basic | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (0.02) |
Net income (loss) per share - diluted | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (0.02) |
Weighted average common share outstanding - basic | 7,294,775,879 | 5,140,405,652 | 6,606,988,956 | 4,969,080,716 | 5,091,857,082 | 4,029,658,082 |
Weighted average common share outstanding - diluted | 7,294,775,879 | 5,140,405,652 | 6,606,988,956 | 4,969,080,716 | 5,091,857,082 | 4,029,658,082 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Shareholders' Deficit - USD ($) | Series E Preferred Stock [Member] Preferred Stock [Member] | Series E Preferred Stock [Member] | Series F Preferred Stock [Member] Preferred Stock [Member] | Series F Preferred Stock [Member] Common Stock [Member] | Series F Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | Series G Preferred Stock [Member] Preferred Stock [Member] | Series G Preferred Stock [Member] | |
Beginning balance, value at Feb. 28, 2021 | $ 4,350 | $ 176,869 | $ 32,294 | $ 16,764,554 | $ (31,521,754) | $ (14,543,687) | |||||||
Beginning balance, (in shares) at Feb. 28, 2021 | 4,350,000 | 2,799 | 3,229,426,884 | ||||||||||
Issuance of shares net of issuance costs | $ 6,452 | 12,515,480 | 12,521,932 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 78 | 645,168,473 | |||||||||||
Net income | (62,197,484) | (62,197,484) | |||||||||||
Cashless exercise of warrants | $ 948 | (948) | |||||||||||
Cashless exercise of warrants ,shares | 94,770,776 | ||||||||||||
Relative fair value of warrants issued with debt | 3,319,816 | 3,319,816 | |||||||||||
Common stock issued for debt conversion | 310 | 898,395 | 898,705 | ||||||||||
Stock based compensation - employee stock option plan | 69,350 | 69,350 | |||||||||||
Cancellation of Series E Shares | $ (1,000) | 1,000 | |||||||||||
Cancellation of Series E Shares, Shares | (1,000,000) | ||||||||||||
Series F Preferred Shares issued with amendment agreement | $ 40 | 3,244,700 | 3,244,740 | ||||||||||
Series F Preferred Shares issued with amendment agreement, shares | 40 | ||||||||||||
Series F Preferred Shares Warrants issued with amendment agreement | 29,770,474 | 29,770,474 | |||||||||||
Series F Preferred Shares cancelled in exchange for promissory notes | $ (83) | (6,732,752) | (6,732,835) | ||||||||||
Series F Preferred Shares cancelled in exchange for promissory notes, shares | (83) | ||||||||||||
Series F preferred shares issued on exercise of warrants | $ 38 | (38) | |||||||||||
Series F preferred shares issued on exercise of warrants, shares | 38 | ||||||||||||
Series F Preferred Shares converted to common shares | $ (78) | $ 3,164 | (3,086) | ||||||||||
Series F Preferred Shares converted to common shares | (78) | 316,345,998 | |||||||||||
Redemption of 19 Issuable Series F shares | $ (74,984) | (425,016) | (500,000) | ||||||||||
Exchange of Series F Preferred Shares for debt | $ (184) | (3,999,976) | (4,000,160) | ||||||||||
Exchange of Series F Preferred Shares for debt, shares | (184) | ||||||||||||
Issuance of Series G preferred as equity awards per employment agreement | 1,500,000 | $ 1,500,000 | |||||||||||
Issuance of Series G preferred as equity awards per employment agreement, shares | 1,500 | ||||||||||||
Redemption of Series G shares as compensation payment | (1,500,000) | $ (1,500,000) | |||||||||||
Redemption of Series G shares as compensation payment shares | (1,500) | ||||||||||||
Adjustment to derivative liability | 422,272 | 422,272 | |||||||||||
Common stock issued for debt conversion, shares | 316,345,998 | 31,042,436 | |||||||||||
Exercise of warrants | $ 3,003 | (3,003) | |||||||||||
Exercise of Warrants Shares | 300,251,561 | ||||||||||||
Exchange of debt for common shares | $ 1,161 | 6,454,235 | 6,455,396 | ||||||||||
Exchange of debt for common shares shares | 116,104,232 | ||||||||||||
Stock based compensation on issuable shares | $ 21 | 109,179 | 109,200 | ||||||||||
Stock based compensation on issuable shares shares | 2,100,000 | ||||||||||||
Warrants issued as part of debt | 4,749,006 | 4,749,006 | |||||||||||
Warrants as issuance cost | 21,918 | 21,918 | |||||||||||
Warrants as consideration for debt extensions | 5,415,000 | 5,415,000 | |||||||||||
Ending balance, value at Feb. 28, 2022 | $ 3,350 | $ 101,618 | $ 47,353 | 73,015,576 | (94,144,254) | (20,976,357) | |||||||
Enidng balance, (in shares) at Feb. 28, 2022 | 3,350,000 | 2,532 | 4,735,210,360 | ||||||||||
Issuance of shares net of issuance costs | $ 1,339 | 1,643,883 | 1,645,222 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 133,881,576 | ||||||||||||
Rounding | (1) | (1) | |||||||||||
Net income | (4,671,686) | (4,671,686) | |||||||||||
Ending balance, value at May. 31, 2022 | $ 3,350 | $ 101,618 | $ 48,692 | 74,659,458 | (98,815,940) | (24,002,822) | |||||||
Enidng balance, (in shares) at May. 31, 2022 | 3,350,000 | 2,532 | 4,869,091,936 | ||||||||||
Beginning balance, value at Feb. 28, 2022 | $ 3,350 | $ 101,618 | $ 47,353 | 73,015,576 | (94,144,254) | (20,976,357) | |||||||
Beginning balance, (in shares) at Feb. 28, 2022 | 3,350,000 | 2,532 | 4,735,210,360 | ||||||||||
Net income | (12,930,211) | ||||||||||||
Ending balance, value at Nov. 30, 2022 | $ 3,350 | $ 101,619 | $ 52,607 | 76,421,377 | (107,074,465) | (30,495,512) | |||||||
Enidng balance, (in shares) at Nov. 30, 2022 | 3,350,000 | 2,533 | 5,260,515,892 | ||||||||||
Beginning balance, value at Feb. 28, 2022 | $ 3,350 | $ 101,618 | $ 47,353 | 73,015,576 | (94,144,254) | (20,976,357) | |||||||
Beginning balance, (in shares) at Feb. 28, 2022 | 3,350,000 | 2,532 | 4,735,210,360 | ||||||||||
Issuance of shares net of issuance costs | $ 7,546,775 | $ 10,579 | 7,760,590 | 7,771,169 | |||||||||
Issuance of shares, net of issuance costs (in shares) | 0 | 116,104.232 | 20,000,000 | 1,057,841,576 | 0 | ||||||||
Rounding | (1) | (1) | |||||||||||
Net income | (18,109,457) | (18,109,457) | |||||||||||
Cashless exercise of warrants | $ 453 | (453) | |||||||||||
Cashless exercise of warrants ,shares | 45,306,557 | ||||||||||||
Relative fair value of warrants issued with debt | 990,467 | 990,467 | |||||||||||
Cancelled shares | $ (171) | 171 | |||||||||||
Cancelled shares ,shares | (17,116,894) | ||||||||||||
Relative fair value of Series F warrants issued with debt | 1 | 1,201,127 | 1,201,128 | ||||||||||
Stock based compensation - employee stock option plan | 122,050 | 122,050 | |||||||||||
Series F Preferred Shares issued with amendment agreement | 118,500 | ||||||||||||
Common stock issued for debt conversion, shares | 316,345,908 | 1 | |||||||||||
Penalty shares issued pursuant to a share purchase agreement | $ 175 | (175) | |||||||||||
Penalty shares issued pursuant to a share purchase agreement ,shares | 17,500,000 | ||||||||||||
Relative fair value of Series F warrants issued with debt, shares | 1 | ||||||||||||
Fair value of 955,000,000 warrants cancelled for debt issuance | (2,960,500) | (2,960,500) | |||||||||||
Shares issued for services | $ 100 | 118,400 | 118,500 | ||||||||||
Shares issued for services, shares | 10,000,000 | ||||||||||||
Ending balance, value at Feb. 28, 2023 | $ 3,350 | $ 101,619 | $ 58,489 | 80,247,252 | (112,253,711) | (31,843,001) | [1] | ||||||
Enidng balance, (in shares) at Feb. 28, 2023 | 3,350,000 | 2,533 | 5,848,741,599 | ||||||||||
Beginning balance, value at May. 31, 2022 | $ 3,350 | $ 101,618 | $ 48,692 | 74,659,458 | (98,815,940) | (24,002,822) | |||||||
Beginning balance, (in shares) at May. 31, 2022 | 3,350,000 | 2,532 | 4,869,091,936 | ||||||||||
Issuance of shares net of issuance costs | $ 1,917 | 1,889,350 | 1,891,267 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 191,691,135 | ||||||||||||
Net income | (4,172,865) | (4,172,865) | |||||||||||
Cashless exercise of warrants | $ 97 | (97) | |||||||||||
Cashless exercise of warrants ,shares | 9,688,179 | ||||||||||||
Relative fair value of warrants issued with debt | 404,374 | 404,374 | |||||||||||
Cancelled shares | (171) | 171 | |||||||||||
Common stock issued for debt conversion | (2,960,500) | (2,960,500) | |||||||||||
Shares as payment for services | $ 100 | 118,400 | 118,500 | ||||||||||
Shares as payment for services, shares | 10,000,000 | ||||||||||||
Ending balance, value at Aug. 31, 2022 | $ 3,350 | $ 101,618 | $ 50,635 | 74,111,156 | (102,988,805) | (28,722,046) | |||||||
Enidng balance, (in shares) at Aug. 31, 2022 | 3,350,000 | 2,532 | 5,063,354,356 | ||||||||||
Issuance of shares net of issuance costs | $ 1,972 | 1,119,518 | 1,121,490 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 197,161,536 | ||||||||||||
Net income | (4,085,660) | (4,085,660) | |||||||||||
Relative fair value of warrants issued with debt | (10,424) | (10,424) | |||||||||||
Cancelled shares ,shares | (17,116,894) | ||||||||||||
Relative fair value of Series F warrants issued with debt | 1 | 1,201,127 | $ 1,201,128 | ||||||||||
Relative fair value of Series F warrants issued with debt, shares | 1 | ||||||||||||
Ending balance, value at Nov. 30, 2022 | $ 3,350 | $ 101,619 | $ 52,607 | 76,421,377 | (107,074,465) | $ (30,495,512) | |||||||
Enidng balance, (in shares) at Nov. 30, 2022 | 3,350,000 | 2,533 | 5,260,515,892 | ||||||||||
Beginning balance, value at Feb. 28, 2023 | $ 3,350 | $ 101,619 | $ 58,489 | 80,247,252 | (112,253,711) | (31,843,001) | [1] | ||||||
Beginning balance, (in shares) at Feb. 28, 2023 | 3,350,000 | 2,533 | 5,848,741,599 | ||||||||||
Issuance of shares net of issuance costs | $ 2,809 | 1,316,100 | 1,318,909 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 280,929,190 | ||||||||||||
Net income | (4,555,193) | (4,555,193) | |||||||||||
Relative fair value of Series F warrants issued with loans payable | 947,447 | 947,447 | |||||||||||
Stock based compensation - employee stock option plan | 52,721 | 52,721 | |||||||||||
Ending balance, value at May. 31, 2023 | $ 3,350 | $ 101,619 | $ 61,298 | 82,563,520 | (116,808,904) | (34,079,117) | |||||||
Enidng balance, (in shares) at May. 31, 2023 | 3,350,000 | 2,533 | 6,129,670,789 | ||||||||||
Beginning balance, value at Feb. 28, 2023 | $ 3,350 | $ 101,619 | $ 58,489 | 80,247,252 | (112,253,711) | (31,843,001) | [1] | ||||||
Beginning balance, (in shares) at Feb. 28, 2023 | 3,350,000 | 2,533 | 5,848,741,599 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 1,859,901,628 | ||||||||||||
Net income | (13,281,405) | ||||||||||||
Series F Preferred Shares issued with amendment agreement | $ 83,200 | ||||||||||||
Series F Preferred Shares issued with amendment agreement, shares | 12,100,000 | ||||||||||||
Ending balance, value at Nov. 30, 2023 | $ 3,350 | $ 101,619 | $ 77,152 | 89,160,341 | (125,535,116) | (36,192,654) | |||||||
Enidng balance, (in shares) at Nov. 30, 2023 | 3,350,000 | 2,533 | 7,715,143,227 | ||||||||||
Beginning balance, value at May. 31, 2023 | $ 3,350 | $ 101,619 | $ 61,298 | 82,563,520 | (116,808,904) | (34,079,117) | |||||||
Beginning balance, (in shares) at May. 31, 2023 | 3,350,000 | 2,533 | 6,129,670,789 | ||||||||||
Issuance of shares net of issuance costs | $ 9,036 | 4,787,087 | 4,796,123 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 903,636,004 | ||||||||||||
Net income | (4,759,728) | (4,759,728) | |||||||||||
Shares as payment for services | $ 65 | 44,395 | 44,460 | ||||||||||
Shares as payment for services, shares | 6,500,000 | ||||||||||||
Stock based compensation - employee stock option plan | 50,713 | 50,713 | |||||||||||
Ending balance, value at Aug. 31, 2023 | $ 3,350 | $ 101,619 | $ 70,399 | 87,445,715 | (121,568,632) | (33,947,549) | |||||||
Enidng balance, (in shares) at Aug. 31, 2023 | 3,350,000 | 2,533 | 7,039,806,793 | ||||||||||
Issuance of shares net of issuance costs | $ 6,753 | 1,405,405 | 1,412,158 | ||||||||||
Issuance of shares, net of issuance costs (in shares) | 675,336,434 | ||||||||||||
Net income | (3,966,484) | (3,966,484) | |||||||||||
Relative fair value of Series F warrants issued with debt | 261,759 | 261,759 | |||||||||||
Stock based compensation - employee stock option plan | 47,462 | 47,462 | |||||||||||
Ending balance, value at Nov. 30, 2023 | $ 3,350 | $ 101,619 | $ 77,152 | $ 89,160,341 | $ (125,535,116) | $ (36,192,654) | |||||||
Enidng balance, (in shares) at Nov. 30, 2023 | 3,350,000 | 2,533 | 7,715,143,227 | ||||||||||
[1]Derived from audited information |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Shareholders' Deficit (Parenthetical) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||
Nov. 30, 2023 | Aug. 31, 2023 | May 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | May 31, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||||||||
Issuance cost of shares | $ 56,320 | $ 176,672 | $ 81,285 | $ 68,732 | $ 95,293 | $ 117,157 | $ 447,858 | $ 253,811 |
Exchange of warrants for debt issuance | 955,000,000 | |||||||
Warrants | $ 108,378,210 | $ 100,000,000 | ||||||
Warrants cancelled for debt issuance | 955,000,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | 12 Months Ended | ||
Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net income (loss) | $ (13,281,405) | $ (12,930,211) | $ (18,109,457) | $ (62,197,484) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 574,746 | 332,643 | 478,115 | 232,886 |
Bad debts expense | 26,730 | 224,215 | 45,110 | 9,022 |
Revenue earning device sold and expensed in cost of sales | 3,410 | |||
Inventory provision | 90,000 | 130,000 | 65,000 | |
(Gain) loss on disposal of fixed assets | (29,125) | |||
Reduction of right of use asset | 88,378 | 84,298 | 112,396 | 110,148 |
Accretion of lease liability | 99,248 | 107,187 | 141,631 | 122,930 |
Stock based compensation | 337,896 | 481,000 | 740,050 | 2,158,050 |
Interest expense related to the issuance of warrants for debt extensions | 5,415,000 | |||
Interest expense related to penalties from debt defaults | ||||
Change in fair value of derivative liabilities | (3,595) | (3,595) | (372,214) | |
Amortization of debt discounts | 1,755,897 | 1,094,388 | 1,980,033 | 7,597,242 |
(Gain) loss on settlement of debt | (38,740) | (3,992) | (3,992) | 33,068,313 |
Increase in related party accrued payroll and interest | 92,770 | 9,720 | 12,960 | 264,331 |
Changes in operating assets and liabilities: | ||||
Accounts receivable | (267,144) | (258,790) | 119,335 | (339,947) |
Prepaid expenses and deposits on inventory | (90,315) | (224,476) | (141,734) | (442,164) |
Deposit on right of use asset | (19,999) | |||
Device parts inventory | (2,004,189) | (805,257) | (1,161,047) | (2,191,571) |
Accounts payable and accrued expenses | 266,666 | 197,317 | 374,529 | (596,615) |
Accrued expense, related party | (167,187) | |||
Customer deposits | 68,567 | (7,617) | (100) | (500) |
Operating lease liability payments | (174,874) | (191,485) | (254,028) | (233,078) |
Balance owed WeSecure | (122,000) | |||
Current portion of deferred variable payment obligations for Payments | 222,525 | 171,550 | 216,577 | 234,013 |
Accrued interest payable | 2,944,817 | 1,749,833 | 2,745,822 | 2,606,097 |
Net cash used in operating activities | (9,378,427) | (9,883,272) | (12,577,395) | (14,825,442) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
Purchase of fixed assets | (13,903) | (217,601) | (258,402) | (115,493) |
Purchase of investment | (50,000) | |||
Acquisition of trademarks | (26,327) | |||
Reimbursement of security deposit | 3,859 | |||
Cash paid for security deposit | (17,380) | |||
Proceeds on disposal of fixed assets | 30,000 | |||
Net cash used in investing activities | (10,044) | (217,601) | (308,402) | (129,200) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Share proceeds net of issuance costs | 7,527,190 | 4,657,979 | 7,771,169 | 12,521,932 |
Proceeds from convertible notes payable | 619,250 | |||
Repayment of convertible debt | (750,000) | (65,000) | ||
Proceeds from loans payable | 1,400,000 | 2,600,000 | 3,300,000 | 9,426,146 |
Repayment of loans payable | (381,000) | (1,711,009) | (1,763,009) | (516,314) |
Series G preferred shares redeemed as payment on incentive plan payable | (1,500,000) | |||
Dividend upon redemption of cancelled issuable Series F shares | (500,000) | |||
Net borrowings(repayments) on loan payable - related party | (808,394) | |||
Proceeds from convertible debt and warrants issued | 619,250 | |||
Net cash provided by financing activities | 8,546,190 | 6,166,220 | 9,177,410 | 18,558,370 |
Net change in cash | (842,281) | (3,934,653) | (3,708,387) | 3,603,728 |
Cash, beginning of period | 939,759 | 4,648,146 | 4,648,146 | 1,044,418 |
Cash, end of period | 97,478 | 713,493 | 939,759 | 4,648,146 |
Supplemental disclosure of cash and non-cash transactions: | ||||
Cash paid for interest | 17,726 | 405,117 | 451,192 | 225,003 |
Cash paid for income taxes | ||||
Noncash investing and financing activities: | ||||
Right of use asset for lease liability | 1,374,002 | |||
Transfer from device parts inventory to revenue earning devices | 1,421,979 | 672,534 | ||
Shares issued for services | 44,460 | |||
Exchange of warrants for debt | 3,000,000 | 3,000,000 | ||
Refund on abandoned trademarks | 1,643 | |||
Penalty shares pursuant to a share purchase agreement | 171 | |||
Transfer from device parts inventory to fixed assets | 932,805 | 659,985 | ||
Conversion of convertible notes and interest to shares of common stock | 898,705 | |||
Release of derivative liability on conversion of convertible notes payable | 422,272 | |||
Derivative debt discount on revaluation of loan amendment | 438,835 | |||
Exchange of notes payable for Series F preferred shares | 6,732,835 | |||
Discount applied to face value of loans | 200,000 | 434,500 | 1,797,645 | 6,162,945 |
Warrants issued as part of debt issuance | 1,209,206 | 8,068,822 | ||
Exercise of warrants | 97 | 453 | 3,951 | |
Series F preferred shares and warrants issued for debt | 1,240,628 | 4,000,160 | ||
Cancellation of Series E preferred shares | $ 171 | 1,000 | ||
Issuance of Series G preferred shares as payment on incentive plan payable | 1,500,000 | |||
Series F preferred shares converted to common shares | 3,086 | |||
Series F preferred shares issued on exercise of warrants | $ 38 |
GENERAL INFORMATION
GENERAL INFORMATION | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
GENERAL INFORMATION | 1. GENERAL INFORMATION Artificial Intelligence Technology Solutions Inc. (“AITX” or the “Company”) was incorporated in Florida on March 25, 2010 and reincorporated in Nevada on February 17, 2015. On August 24, 2018, Artificial Intelligence Technology Solutions Inc., changed its name from On the Move Systems Corp (“OMVS”). Robotic Assistance Devices, LLC (“RAD”), was incorporated in the State of Nevada on July 26, 2016 as a Limited Liability Company. On July 25, 2017, Robotic Assistance Devices LLC converted to a C Corporation, Robotic Assistance Devices, Inc., through the issuance of 10,000 On August 28, 2017, AITX completed the acquisition of RAD (the “Acquisition”), whereby AITX acquired all the ownership and equity interest in RAD for 3,350,000 2,450 The Acquisition was treated as a reverse recapitalization effected by a share exchange for financial accounting and reporting purposes since substantially all of AITX’s operations were disposed of as part of the consummation of the transaction. Therefore, no goodwill or other intangible assets were recorded by AITX as a result of the Acquisition. RAD is treated as the accounting acquirer as its stockholders control the Company after the Acquisition, even though AITX was the legal acquirer. As a result, the assets and liabilities and the historical operations that are reflected in these financial statements are those of RAD as if RAD had always been the reporting company. | 1. GENERAL INFORMATION AND GOING CONCERN GENERAL INFORMATION Artificial Intelligence Technology Solutions Inc. (formerly known as On the Move Systems Corp.) (“AITX” or the “Company”) was incorporated in Florida on March 25, 2010 and reincorporated in Nevada on February 17, 2015. On August 24, 2018, Artificial Intelligence Technology Solutions Inc., changed its name from On the Move Systems Corp (“OMVS”). Robotic Assistance Devices, LLC (“RAD”), was incorporated in the State of Nevada on July 26, 2016 as a LLC. On July 25, 2017, Robotic Assistance Devices LLC converted to a C Corporation, Robotic Assistance Devices, Inc. through the issuance of 10,000 On August 28, 2017, AITX completed the acquisition of RAD (the “Acquisition”), whereby AITX acquired all the ownership and equity interest in RAD for 3,350,000 2,450 The Acquisition was treated as a reverse recapitalization effected by a share exchange for financial accounting and reporting purposes since substantially all of AITX’s operations were disposed of as part of the consummation of the transaction. Therefore, no goodwill or other intangible assets were recorded by AITX as a result of the Acquisition. RAD is treated as the accounting acquirer as its stockholders control the Company after the Acquisition, even though AITX was the legal acquirer. As a result, the assets and liabilities and the historical operations that are reflected in these financial statements are those of RAD as if RAD had always been the reporting company. GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. For the year ended February 28, 2023, the Company had negative cash flow from operating activities of $ 12,577,395 112,253,711 12,610,601 The Company does not have the resources at this time to repay all its credit and debt obligations, make any payments in the form of dividends to its shareholders or fully implement its business plan. Without additional capital, the Company will not be able to remain in business. At the same time management points to its successful history with maintaining Company operations and reminds all with reasonable confidence this will continue. Management has plans to address the Company’s financial situation as follows: Management is committed to raise either non-dilutive funds or minimally dilutive funds. There is no assurance that these funds will be able to be raised nor can we provide assurance that these possible raises may not have dilutive effects. In March 2023, the Company entered into an equity financing agreement whereby an investor will purchase up to $ 12,500,000 200,000 300,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Nov. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | 2. GOING CONCERN The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. For the nine months ended November 30, 2023, the Company had negative cash flow from operating activities of $ 9,378,427 125,535,116 12,944,810 The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or fully implement its business plan. Without additional capital, the Company will not be able to remain in business. Management has plans to address the Company’s financial situation as follows: Management is committed to raise either non-dilutive funds or minimally dilutive funds. There is no assurance that these funds will be able to be raised nor can we provide assurance that these possible raises may not have dilutive effects. In March 2023, the Company entered into an equity financing agreement whereby an investor will purchase up to $ 30,000,000 of the Company’s common stock at a discount over a two-year period. In March and April 2023 the Company reduced personnel that were working on far-future solutions as well as other department reductions. Combined with other cost cutting measures management estimates it reduced the monthly expense burn by $ 200,000 - $ 300,000 with little impact on short and medium term operations. Management believes that it has the necessary support to continue operations by continuing its funding methods in the following ways : growing revenues ,equity proceeds and non-convertible debt. Management has had many recent conversations with the Company’s primary debt holder and believes that the non-convertible debt on the balance sheet will be extended. Management notes that non-convertible debt on the books has been extended by this debt holder twice in the past and notes that this debt holder has been a strong supporter of the Company. Management is committed to raise either non-dilutive funds or minimally dilutive funds. There is no assurance that these funds will be able to be raised nor can we provide assurance that these possible raises may not have dilutive effects. The Company year to date November 30, 2023 has raised an additional $ 7.5 1.4 1.5 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) |
ACCOUNTING POLICIES
ACCOUNTING POLICIES | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Accounting Policies [Abstract] | ||
ACCOUNTING POLICIES | 3. ACCOUNTING POLICIES Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the condensing instructions on Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto in the Company’s latest Annual Report filed with the SEC on Form 10-K as filed on June 14, 2023. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Robotic Assistance Devices, Inc., Robotic Assistance Devices Group , Inc, Robotic Assistance Devices Mobile, Inc., On the Move Experience, LLC and On the OMV Transports, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. The results of operations for the nine months ended November 30, 2023 are not necessarily indicative of the results that may be expected for the entire year. Use of Estimates In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates, judgements and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. The most significant estimates included in these consolidated financial statements are those associated with the assumptions used to value preferred stock and derivative liabilities. Concentrations Loans payable At November 30, 2023 there were $ 32,473,345 28,190,506 87 31,254,345 26,540,506 85 Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances. Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for uncollectible accounts. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances. There was an allowance of $ 61,000 39,000 61 62 Device Parts Inventory Device parts inventory is stated at the lower of cost or net realizable value using the weighted average cost method. The Company records a valuation reserve for obsolete and slow-moving inventory, relying principally on specific identification of such inventory. The Company uses these device parts in the assembly of revenue earning devices (and demo devices) as well as research and development. Depending on use, the Company will transfer the parts to the corresponding asset or expense if used in research and development. A charge to income is taken when factors that would result in a need for an increase in the valuation, such as excess or obsolete inventory, are noted. As of November 30, 2023 and February 28, 2023 there was a valuation reserve of $ 195,000 195,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Revenue Earning Devices Revenue earning devices are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful life of 48 Fixed Assets Fixed assets are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from two five years SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment and software 2 3 Office equipment 4 Manufacturing equipment 7 Warehouse equipment 5 Tooling 2 Demo Devices 4 Vehicles 3 Leasehold improvements 5 The Company periodically evaluates the fair value of fixed assets whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Upon retirement or other disposition of fixed assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income. Research and Development Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development Contingencies Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. Sales of Future Revenues The Company has entered into transactions, as more fully described in footnote 8, in which it has received funding from investors in exchange for which it will make payments to those investors based on the level of sales of certain revenue categories, generally based on a percentage of sales for those certain revenues. The Company determines whether these agreements constitute sales of future revenues or are in substance debt based on the facts and circumstances of each agreement, with the following primary criteria determinative of whether the agreement constitutes a sale of future revenues or debt: ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) ● Does the agreement purport, in substance, to be a sale ● Does the Company have continuing involvement in the generation of cash flows due the investor ● Is the transaction cancellable by either party through payment of a lump sum or other transfer of assets ● Is the investors rate of return is implicitly limited by the terms of the agreement ● Does the Company’s revenue for a reporting period underlying the agreement have only a minimal impact on the investor’s rate of return ● Does the investor have recourse relating to payments due In the event a transaction is determined to be a sale of future revenues, it is recorded as deferred revenue and amortized using the sum-of-the-revenue method. In the event a transaction is determined to be debt, it is recorded as debt and amortized using the effective interest method. As of the date of these financial statements, the Company has determined that all such agreements are debt. Revenue Recognition ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) 58 41 Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. ASC 740, Accounting for Income Taxes requires companies to recognize the effects of changes in tax laws and rates on deferred tax assets and liabilities and the retroactive effects of changes in tax laws in the period in which the new legislation is enacted. The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21% Leases Lease agreements are evaluated to determine if they are sales/finance leases meeting any of the following criteria at inception: (a) transfer of ownership of the underlying asset; (b) purchase option that is reasonably certain of being exercised; (c) the lease term is greater than a major part of the remaining estimated economic life of the underlying asset; or (d) if the present value of the sum of lease payments and any residual value guaranteed by the lessee that has not already been included in lease payments in accordance with ASC 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) If at its inception, a lease meets any of the four lease criteria above, the lease is classified by the Company as a sales/finance; and if none of the four criteria are met, the lease is classified by the Company as an operating lease. Operating lease payments are recognized as an expense in the income statement on a straight-line basis over the lease term, whereby an equal amount of rent expense is attributed to each period during the term of the lease, regardless of when actual payments are made. This generally results in rent expense in excess of cash payments during the early years of a lease and rent expense less than cash payments in the later years. The difference between rent expense recognized and actual rental payments is recorded as deferred rent and included in liabilities. Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity. Our Chief Executive Officer/ Chairman holds sufficient shares of the Company’s voting preferred stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO/ Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company, without the need to call a general meeting of common shareholders of the Company. Initial Measurement The Company records its financial instruments classified as liability, temporary equity or permanent equity at issuance at the fair value, or cash received. Subsequent Measurement – Financial Instruments Classified as Liabilities The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in fair value of its financial instruments classified as liabilities are recorded as other income (expenses). Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows: ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 November 30, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 1,166,000 $ — $ — $ 1,166,000 February 28, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and advances, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. Earnings (Loss) per Share Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS give effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excluded all dilutive potential shares if their effect is anti-dilutive. Basic loss per common share is computed based on the weighted average number of shares outstanding during the period. Diluted loss per share is computed in a manner similar to the basic loss per share, except the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of convertible debt and other such convertible instruments. Diluted loss per share contemplates a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Recently Issued Accounting Pronouncements Recently Issued Accounting Standards Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity | 2. ACCOUNTING POLICIES Basis of Presentation and Consolidation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the instructions on Form 10-K of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”). The audited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Robotic Assistance Devices, Inc., Robotic Assistance Devices Group , Inc, Robotic Assistance Devices Mobile , Inc. , On the Move Experience, LLC and OMV Transports, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates , judgements and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. The most significant estimates included in these consolidated financial statements are those associated with the assumptions used to value equity instruments used in debt settlements, amendments and extensions. Concentrations Loans payable At February 28, 2023 there were $ 31,254,345 26,540,506 85 26,233,598 21,709,459 83 Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances. Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for credit losses. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances. There was an allowance of $ 39,000 33,890 48 63 Device Parts Inventory Device parts inventory is stated at the lower of cost or net realizable value using the weighted average cost method. The Company records a valuation reserve for obsolete and slow-moving inventory, relying principally on specific identification of such inventory. The Company uses these device parts in the assembly of revenue earning devices (and demo devices) as well as research and development. Depending on use, the Company will transfer the parts to the corresponding asset or expense if used in research and development. A charge to income is taken when factors that would result in a need for an increase in the valuation, such as excess or obsolete inventory, are noted. At February 28, 2023 and at February 28, 2022 there was a valuation reserve of $ 195,000 65,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Revenue Earning Devices Revenue earning devices are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful life of 48 Fixed Assets Fixed assets are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from three to five years . Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently. SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment 3 Furniture and fixtures 3 Office equipment 4 Warehouse equipment 5 Demo Devices 4 Vehicles 3 Leasehold improvements 5 The Company periodically evaluates the fair value of fixed assets whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Upon retirement or other disposition of fixed assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income. Research and Development Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development no Contingencies Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. Sales of Future Revenues The Company has entered into transactions, as more fully described in footnote 10, in which it has received funding from investors in exchange for which it will make payments to those investors based on the level of sales of certain revenue categories, generally based on a percentage of sales for those certain revenues. The Company determines whether these agreements constitute sales of future revenues or are in substance debt based on the facts and circumstances of each agreement, with the following primary criteria determinative of whether the agreement constitutes a sale of future revenues or debt: ● Does the agreement purport, in substance, to be a sale ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ● Does the Company have continuing involvement in the generation of cash flows due the investor ● Is the transaction cancellable by either party through payment of a lump sum or other transfer of assets ● Is the investors rate of return implicitly limited by the terms of the agreement ● Does the Company’s revenue for a reporting period underlying the agreement have only a minimal impact on the investor’s rate of return ● Does the investor have recourse relating to payments due In the event a transaction is determined to be a sale of future revenues, it is recorded as deferred revenue and amortized using the sum-of-the-revenue method. In the event a transaction is determined to be debt, it is recorded as debt and amortized using the effective interest method. As of the date of these financial statements, the Company has determined that all such agreements are debt. Revenue Recognition ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) 45 43 Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. ASC 740, Accounting for Income Taxes requires companies to recognize the effects of changes in tax laws and rates on deferred tax assets and liabilities and the retroactive effects of changes in tax laws in the period in which the new legislation is enacted. The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21%. Leases Lease agreements are evaluated to determine if they are sales/finance leases meeting any of the following criteria at inception: (a) transfer of ownership of the underlying asset; (b) purchase option that is reasonably certain of being exercised; (c) the lease term is greater than a major part of the remaining estimated economic life of the underlying asset; or (d) if the present value of the sum of lease payments and any residual value guaranteed by the lessee that has not already been included in lease payments in accordance with ASC 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS If at its inception, a lease meets any of the four lease criteria above, the lease is classified by the Company as a sales/finance; and if none of the four criteria are met, the lease is classified by the Company as an operating lease. Operating lease payments are recognized as an expense in the income statement on a straight-line basis over the lease term, whereby an equal amount of rent expense is attributed to each period during the term of the lease, regardless of when actual payments are made. This generally results in rent expense in excess of cash payments during the early years of a lease and rent expense less than cash payments in the later years. The difference between rent expense recognized and actual rental payments is recorded as deferred rent and included in liabilities. Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity. Our CEO and Chairman holds sufficient shares of the Company’s voting stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO and Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company without the need to call a general meeting of common shareholders of the Company. Initial Measurement The Company records its financial instruments classified as liability, temporary equity or permanent equity at issuance at the fair value, or cash received. Subsequent Measurement – Financial Instruments Classified as Liabilities The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in fair value of its financial instruments classified as liabilities are recorded as other income (expenses). Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 February 28, 2023 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 February 28, 2022 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 479,500 $ — $ — $ 479,500 Derivative liability – conversion features pursuant to convertible notes payable $ 7,587 $ — $ — $ 7,587 The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and advances, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. Earnings (Loss) per Share Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS give effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excluded all dilutive potential shares if their effect is anti-dilutive. Basic loss per common share is computed based on the weighted average number of shares outstanding during the period. Diluted loss per share is computed in a manner similar to the basic loss per share, except the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of convertible debt and other such convertible instruments. Diluted loss per share contemplates a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Recently Issued Accounting Pronouncements Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (FASB) issued amended guidance on the accounting and reporting of income taxes. The guidance is intended to simplify the accounting for income taxes by removing exceptions related to certain intraperiod tax allocations and deferred tax liabilities; clarifying guidance primarily related to evaluating the step-up tax basis for goodwill in a business combination; and reflecting enacted changes in tax laws or rates in the annual effective tax rate. The Company adopted the new guidance effective February 1, 2021. There was no impact to the Company’s consolidated financial statements upon adoption. In January 2020, the FASB issued new guidance intended to clarify certain interactions between accounting standards related to equity securities, equity method investments and certain derivatives. The guidance addresses accounting for the transition into and out of the equity method of accounting and measuring certain purchased options and forward contracts to acquire investments. The Company adopted the new guidance effective February 1, 2021. There was no impact to the Company’s consolidated financial statements upon adoption. In August 2020, the FASB issued amended guidance on the accounting for convertible instruments and contracts in an entity’s own equity. The guidance removes the separation model for convertible debt instruments and preferred stock, amends requirements for conversion options to be classified in equity as well as amends diluted earnings per share (EPS) calculations for certain convertible debt instruments. The amended guidance is effective for interim and annual periods in 2022. The application of the amendments in the new guidance are to be applied either on a modified retrospective or a retrospective basis. We are currently assessing the effect that the adoption of this standard will have on the Company’s consolidated financial statements upon adoption. Recently Issued Accounting Standards Not Yet Adopted In March 2020, the FASB issued optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting and subsequently issued clarifying amendments. The guidance provides optional expedients and exceptions for accounting for contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The optional guidance is effective upon issuance and can be applied on a prospective basis at any time between January 1, 2020 through December 31, 2022. The Company is currently evaluating the impact of adoption on its consolidated financial statements. In October 2021, the FASB issued amended guidance that requires acquiring entities to recognize and measure contract assets and liabilities in a business combination in accordance with existing revenue recognition guidance. The amended guidance is effective for interim and annual periods in 2023 and is to be applied prospectively. Early adoption is permitted on a retrospective basis to the beginning of the fiscal year of adoption. The adoption of this guidance will not have a material impact on the Company’s consolidated financial statements for prior acquisitions; however, the impact in future periods will be dependent upon the contract assets and contract liabilities acquired in future business combinations. |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Revenue from Contract with Customer [Abstract] | ||
REVENUE FROM CONTRACTS WITH CUSTOMERS | 4. REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue is earned primarily from two sources: 1) direct sales of goods or services and 2) short-term rentals. Direct sales of goods or services are accounted for under Topic 606, and short-term rentals are accounted for under Topic 842 (which addresses lease accounting and was adopted on March 1, 2019). As disclosed in the revenue recognition section of Note 3 – Accounting Polices, the Company adopted Topic 606 in accordance with the effective date on March 1, 2018. Note 3 includes disclosures regarding the Company’s method of adoption and the impact on the Company’s financial statements. Revenue is recognized on direct sales of goods or services when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. After adopting Topic 842, also referred to above in Note 3, the Company is accounting for revenue earned from rental activities where an identified asset is transferred to the customer and the customer has the ability to control that asset. The Company recognizes revenue from its device rental activities when persuasive evidence of a contract exists, the performance obligations have been satisfied, the transaction price is fixed or determinable and collection is reasonably assured. Performance obligations associated with device rental transactions are satisfied over the rental period. Rental periods are short-term in nature. Therefore, the Company has elected to apply the practical expedient which eliminates the requirement to disclose information about remaining performance obligations. Payments are due from customers at the completion of the rental, except for customers with negotiated payment terms, generally net 30 days or less, which are invoiced and remain as accounts receivable until collected. The following table presents revenues from contracts with customers disaggregated by product/service: SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS Three Months Three Months Nine Months Nine Months Device rental activities $ 416,062 $ 154,628 $ 997,754 $ 622,647 Direct sales of goods and services 180,918 247,771 370,797 432,393 Revenue $ 596,980 $ 402,399 $ 1,368,551 1,055,040 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 3. REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue is earned primarily from two sources: 1) direct sales of goods or services and 2) short-term rentals. Direct sales of goods or services are accounted for under Topic 606, and short-term rentals are accounted for under Topic 842 which was adopted. On March 1, 2019. As disclosed in the revenue recognition section of Note 2 – Accounting Polices, the Company adopted Topic 606 in accordance with the effective date on March 1, 2018. Note 2 includes disclosures regarding the Company’s method of adoption and the impact on the Company’s financial statements. Revenue is recognized on direct sales of goods or services when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Upon adoption of Topic 842, also referred to above in Note 2, the Company accounts for revenue earned from rental activities where an identified asset is transferred to the customer and the customer has the ability to control that asset for periods greater than one year. To date none of the lease agreements entered into have been for periods longer than one year or greater, and the Company has availed itself of the practical expedient to exclude such leases from ASC 84 2accountiong and instead has accounted for these leases under ASC 606. The following table presents revenues from contracts with customers disaggregated by product/service: SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS Year Ended Year Ended Device rental activities $ 754,126 $ 592,401 Direct sales of goods and services 577,830 854,708 Revenue $ 1,331,956 $ 1,447,109 |
LEASES
LEASES | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Leases | ||
LEASES | 5. LEASES We lease certain warehouses, and office space. Leases with an initial term of 12 There is no lease renewal. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Below is a summary of our lease assets and liabilities at November 30, 2023 and February 28, 2023. SCHEDULE OF LEASE ASSETS AND LIABILITIES Leases Classification November 30, 2023 February 28, 2023 Assets Operating Operating Lease Assets $ 1,115,447 $ 1,208,440 Liabilities Current Operating Current Operating Lease Liability $ 229,016 $ 248,670 Noncurrent Operating Noncurrent Operating Lease Liabilities 881,816 950,541 Total lease liabilities $ 1,110,832 $ 1,199,211 Note: As most of our leases do not provide an implicit rate, we use our incremental borrowing rate of 10% which for the leases noted above was based on the information available at commencement date in determining the present value of lease payments. We compare against loans we obtain to acquire physical assets and not loans we obtain for financing. The loans we obtain for financing are generally at significantly higher rates and we believe that physical space or vehicle rental agreements are in line with physical asset financing agreements. CAM charges were not included in operating lease expense and were expensed in general and administrative expenses as incurred. Rent expense and operating lease cost was $ 64,081 189,164 61,005 194,653 | 4. LEASES We lease certain warehouses, and office space. Leases with an initial term of 12 There is no lease renewal. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Below is a summary of our lease assets and liabilities at February 28, 2023 and February 28, 2022. SCHEDULE OF LEASE ASSETS AND LIABILITIES Leases Classification February 28, 2023 February 28, 2022 Assets Operating Operating Lease Assets $ 1,208,440 $ 1,331,605 Liabilities Current Operating Current Operating Lease Liability $ 248,670 $ 254,027 Noncurrent Operating Noncurrent Operating Lease Liabilities 950,541 1,057,579 Total lease liabilities $ 1,199,211 $ 1,311,606 Note: As most of our leases do not provide an implicit rate, we use our incremental borrowing rate of 10% which for the leases noted above was based on the information available at commencement date in determining the present value of lease payments. We compare against loans we obtain to acquire physical assets and not loans we obtain for financing. The loans we obtain for financing are generally at significantly higher rates and we believe that physical space or vehicle rental agreements are in line with physical asset financing agreements. CAM charges were not included in operating lease expense and were expensed in general and administrative expenses as incurred. Operating lease cost and rent was $ 260,271 275,785 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
REVENUE EARNING DEVICES
REVENUE EARNING DEVICES | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Revenue Earning Devices | ||
REVENUE EARNING DEVICES | 6. REVENUE EARNING DEVICES Revenue earning devices consisted of the following: SCHEDULE OF REVENUE EARNING DEVICES November 30, 2023 February 28, 2023 Revenue earning devices $ 3,321,560 $ 2,015,058 Less: Accumulated depreciation (1,209,664 ) (779,839 ) Total $ 2,111,896 $ 1,235,219 During the three and nine months ended November 30, 2023 the Company made total additions to revenue earning devices of $ 521,037 1,306,501 199,047 625,094 Depreciation expense was $ 165,370 429,825 54,418 241,957 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 6. REVENUE EARNING ROBOTS REVENUE EARNING DEVICES Revenue earning robots consisted of the following: REVENUE EARNING ROBOTS CONSISTED OF THE FOLLOWING February 28, 2022 February 28, 2021 Revenue earning devices $ 2,015,058 $ 1,143,724 Less: Accumulated depreciation (779,839 ) (434,661 ) Property, Plant and Equipment, Other, Net $ 1,235,219 $ 709,063 During the year ended February 28, 2023, the Company made total additions to revenue earning devices of $ 871,334 647,116 647,116 3,255 30,600 3,255 Depreciation expense for these devices was $ 345,178 208,510 |
FIXED ASSETS
FIXED ASSETS | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Property, Plant and Equipment [Abstract] | ||
FIXED ASSETS | 7. FIXED ASSETS Fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS November 30, 2023 February 28, 2023 Automobile $ 101,680 $ 101,680 Demo devices 184,438 69,010 Tooling 101,322 101,322 Machinery and equipment 8,825 8,825 Computer equipment 150,387 150,387 Office equipment 15,312 15,312 Furniture and fixtures 21,225 21,225 Warehouse equipment 17,076 14,561 Leasehold improvements 26,956 15,568 Fixed assets gross 627,221 497,890 Less: Accumulated depreciation (326,921 ) (182,002 ) Fixed assets, net of accumulated depreciation $ 300,300 $ 315,888 During the three months ended November 30, 2023, the Company made additions of $ 22,101 11,661 10,440 129,331 115,428 13,903 31,365 19,961 11,404 265,041 47,440 217,601 Depreciation expense was $ 50,393 144,921 38,437 90,686 | 7. FIXED ASSETS Fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS February 28, 2023 February 28, 2022 Automobile $ 101,680 $ 101,680 Demo devices 69,010 16,539 Tooling 101,322 — Machinery and equipment 8,825 — Computer equipment 150,387 36,742 Office equipment 15,312 15,312 Furniture and fixtures 21,225 — Warehouse equipment 14,561 11,415 Leasehold improvements 15,568 5,329 Fixed assets gross 497,890 187,017 Less: Accumulated depreciation (182,002 ) (49,065 ) Fixed assets, net of accumulated depreciation $ 315,888 $ 137,952 During the year ended February 28, 2023, the Company made additions to fixed assets of $ 258,402 52,471 During the year ended February 28, 2022, the Company made additions to fixed assets of $ 115,493 12,868 875 30,000 29,125 Depreciation expense was $ 132,937 24,376 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
DEFERRED VARIABLE PAYMENT OBLIG
DEFERRED VARIABLE PAYMENT OBLIGATION | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Deferred Variable Payment Obligation | ||
DEFERRED VARIABLE PAYMENT OBLIGATION | 8. DEFERRED VARIABLE PAYMENT OBLIGATION On February 1, 2019 the Company entered into an agreement with an investor whereby the investor would pay up to $ 900,000 9 February 29, 2020 900,000 On May 9, 2019 the Company entered into two similar arrangements with two investors: (1) The investor would pay up to $ 400,000 4 400,000 (2) The investor would pay up to $ 50,000 1.11 50,000 These variable payments (Payments) are to be made 30 days after the end of each fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount. In the event that at least 10% of the assets of the Company are sold by the Company, the investors would be entitled to the fair market value (FMV) of all future Payments associated with the assets sold as determined by an independent valuator to be chosen by the investors. The FMV cannot exceed 30% of the total asset disposition price defined as the total price paid for the assets plus all future Payments associated with the assets sold. In the event that the common or preferred shares are sold by the Company to a third party as to effect a change in control, then the investors must be paid the FMV of all future Payments in one lump payment. The FMV cannot exceed 30% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) On November 18, 2019, the Company entered into another similar arrangement with the (February 1, 2019) investor above whereby the investor would advance up to $ 225,000 2.25 109,000 116,000 On December 30, 2019, the Company entered into another similar arrangement with a new investor whereby the investor would advance up to $ 100,000 1.00 50,000 100,000 1.00 On April 22, 2020, the Company entered into another similar arrangement with the (first May 9, 2019) investor above whereby the investor would advance up to $ 100,000 1.00 On July 1, 2020, the Company entered into a similar agreement with the first investor whereby the investor would pay up to $ 800,000 2.75 If the Payments would deplete RAD’s available cash by more than 20%, the payment may be deferred. The investor had agreed to pay $100,000 per month over an 8 month period with the first payment due July 2020 and the final payment no later than February 28, 2021. As at August 31, 2020 the investor had fully funded the $800,000 commitment On August 27, 2020, the Company and the first investor referred to above consolidated the three separate agreements of February 1, 2019 for $ 900,000 225,000 800,000 1,925,000 14.25 In summary of all agreements mentioned above if in the event that at least 10 The FMV cannot exceed 43.77% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. As of March 1, 2021 as a result of the amendment with the first investor noted below. This aggregate asset disposition % was reduced from 43.77 % to 33.77% The Payments first become payable on June 30, 2019 (unless otherwise indicated) based on the quarterly Revenues for the quarter ended May 31, 2019 and accrue every quarter thereafter. As of November 30, 2023, the Company has accrued $ 764,702 497,149 542,177 325,600 On March 1, 2021, the first investor referred to above whose aggregate investment is $ 1,925,000 1) The rate payment was reduced from 14.25 9.65 2) The asset disposition % (see below) was reduced from 31 21 In consideration for the above changes, the investor received 40 Series F Convertible Preferred Stock and a warrant to purchase 367 1.00 38 33,015,214 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) The Company retains total involvement in the generation of cash flows from these revenue streams that form the basis of the payments to be made to the investors under this agreement. Because of this, the Company has determined that the agreements constitute debt agreements. As of November 30, 2023, and February 28, 2023, the long-term balances other than Payments already owed is the cash received of $ 2,525,000 2,525,000 For both the three months and nine months ended November 30, 2023 and year ended February 28, 2023, the Company has received $ 0 2,525,000 | 8. DEFERRED VARIABLE PAYMENT OBLIGATION On February 1, 2019 the Company entered into an agreement with an investor whereby the investor would pay up to $ 900,000 9% February 29, 2020 900,000 On May 9, 2019 the Company entered into two similar arrangements with two investors: (1) The investor would pay up to $ 400,000 4% 400,000 (2) The investor would pay up to $ 50,000 1.11% 50,000 These variable payments (Payments) are to be made 30 days after the end of each fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount In the event that at least 10% of the assets of the Company are sold by the Company, the investors would be entitled to the fair market value (FMV) of all future Payments associated with the assets sold as determined by an independent valuator to be chosen by the investors. The FMV cannot exceed 30% of the total asset disposition price defined as the total price paid for the assets plus all future Payments associated with the assets sold. In the event that the common or preferred shares are sold by the Company to a third party as to effect a change in control, then the investors must be paid the FMV of all future Payments in one lump payment. The FMV cannot exceed 30% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments On November 18, 2019 the Company entered into another similar arrangement with the (February 1, 2019) investor above whereby the investor would advance up to $ 225,000 2.25% 109,000 116,000 On December 30, 2019 the Company entered into another similar arrangement with a new investor whereby the investor would advance up to $ 100,000 1.00% 50,000 100,000 1.00% On April 22, 2020 the Company entered into another similar arrangement with the (first May 9, 2019) investor above whereby the investor would advance up to $ 100,000 1.00% On July 1, 2020 the Company entered into a similar agreement with the first investor whereby the investor would pay up to $ 800,000 2.75% On August 27, 2020 the Company and the first investor referred to above consolidated the three separate agreements of February 1, 2019 for $ 900,000 225,000 800,000 1,925,000 14.25% ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS In summary of all agreements mentioned above if in the event that at least 10% The FMV cannot exceed 43.77% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. As of March 1, 2021 as a result of the amendment with the first investor noted below. This aggregate asset disposition % was reduced from 43.77 % to 33.77% The Payments will first become payable on June 30, 2019 (unless otherwise indicated) based on the quarterly Revenues for the quarter ended May 31, 2019 and will accrue every quarter thereafter. As of February 28, 2023, the Company has accrued approximately $ 542,177 325,600 325,600 90,300 On March 1, 2021 the first investor referred to above whose aggregate investment is $ 1,925,000 1) The rate payment was reduced from 14.25 9.65 2) The asset disposition % (see below) was reduced from 31 21% In consideration for the above changes, the investor received 40 Series F Convertible Preferred Stock and a warrant to purchase 367 1.00 38 33,015,214 The Company retains total involvement in the generation of cash flows from these revenue streams that form the basis of the payments to be made to the investors under this agreement. Because of this, the Company has determined that the agreements constitute debt agreements. As of February 28, 2023, and February 28, 2022, the long-term balances other than Payments already owed is the cash received of $ 2,525,000 2,525,000 For both the years ended February 28, 2023 and February 28, 2022, the Company has received $ 0 2,525,000 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Related Party Transactions [Abstract] | ||
RELATED PARTY TRANSACTIONS | 9. RELATED PARTY TRANSACTIONS For both the three months ended November 30, 2023 and November 30, 2022 , the Company had no 299,286 206,516 222,754 183,625 12 108,000 108,000 12 28,267 15,660 Pursuant to the amended Employment Agreement with its Chief Executive Officer, for the three months and nine ended November 30, 2023, the Company accrued $ 62,000 138,000 187,000 362,500 1,000 1,166,000 979,000 During the three months ended November 30, 2023 and 2022, the Company was charged $ 526,723 794,460 During the nine months ended November 30, 2023 and 2022, the Company was charged $ 2,185,998 2,735,589 | 10. RELATED PARTY TRANSACTIONS For the years ended February 28, 2023 and February 28, 2022, the Company made net repayments of $ 0 803,394 206,516 193,556 108,000 12 108,000 90,000 12 15,660 2,700 During the year ended February 28, 2023 pursuant to the amended Employment Agreement with its Chief Executive Officer the Company accrued $ 499,500 979,000 479,500 1,000 During the year ended February 28, 2022, pursuant to the amended Employment Agreement with its Chief Executive Officer, the Company issued 1,500 1,000 1,500,000 1,500,000 479,500 During the years ended February 28, 2023 and February 28, 2022, the Company was charged $ 3,578,981 2,258,819 |
OTHER DEBT _ VEHICLE LOAN
OTHER DEBT – VEHICLE LOAN | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Other Debt Vehicle Loan | ||
OTHER DEBT – VEHICLE LOAN | 10. OTHER DEBT – VEHICLE LOAN In December 2016, RAD entered into a vehicle loan for $ 47,704 5 1,019 47,661 5 October 24, 2022 923 0 21,907 3,257 21,578 18,766 5,515 13,251 16,944 38,522 38,522 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 11. OTHER DEBT – VEHICLE LOANS OTHER DEBT – VEHICLE LOAN In December 2016, RAD entered into a vehicle loan for $ 47,704 5 November 9, 2021 1,019 47,661 5 October 24, 2022 923 0 21,907 3,257 21,578 18,766 5,515 13,251 16,944 38,522 38,522 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
LOANS PAYABLE
LOANS PAYABLE | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Debt Disclosure [Abstract] | ||
LOANS PAYABLE | 11. LOANS PAYABLE Loans payable at November 30, 2023 consisted of the following: SCHEDULE OF LOANS PAYABLE Annual Date Maturity Description Principal Interest Rate July 18, 2016 July 18, 2017 Promissory note (1)* $ 3,500 22 % December 10, 2020 March 1, 2025 Promissory note (2) 3,921,168 12 % December 10, 2020 March 1, 2025 Promissory note (3) 2,754,338 12 % December 10, 2020 December 10, 2023 Promissory note (4) 165,605 12 % December 14, 2020 December 14, 2023 Promissory note (5) 310,375 12 % December 30, 2020 March 1, 2025 Promissory note (6) 350,000 12 % January 1, 2021 March 1, 2025 Promissory note (7) 25,000 12 % January 1, 2021 March 1, 2025 Promissory note (8) 145,000 12 % January 14, 2021 March 1, 2025 Promissory note (9) 550,000 12 % February 22, 2021 March 1, 2025 Promissory note (10) 1,650,000 12 % March 1, 2021 March 1, 2024 Promissory note (11) 6,000,000 12 % June 8, 2021 June 8, 2024 Promissory note (12) 2,750,000 12 % July 12, 2021 July 26, 2026 Promissory note (13) 3,803,360 7 % September 14, 2021 September 14, 2024 Promissory note (14) 1,650,000 12 % July 28, 2022 March 1, 2025 Promissory note (15) 170,000 15 % August 30, 2022 August 30,2024 Promissory note (16) 3,000,000 15 % September 7, 2022 March 1, 2025 Promissory note (17) 400,000 15 % September 8, 2022 March 1, 2025 Promissory note (18) 475,000 15 % October 13, 2022 March 1, 2025 Promissory note (19) 350,000 15 % October 28, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 9, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 10, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 15, 2022 October 31, 2026 Promissory note (20) 400,000 15 % January 11, 2023 October 31, 2026 Promissory note (20) 400,000 15 % February 6, 2023 October 31, 2026 Promissory note (20) 400,000 15 % April 5. 2023 October 31, 2026 Promissory note (20) 400,000 15 % April 20, 23 October 31, 2026 Promissory note (20) 400,000 15 % May 11, 2023 October 31, 2026 Promissory note (20) 400,000 15 % October 27, 2023 October 31, 2026 Promissory note (20) 400,000 15 % November 30, 2023 October 31, 2025 Purchase Agreement (21)** — 35 % $ 32,473,346 Less: current portion of loans payable (9,479,479 ) Less: discount on non-current loans payable (4,305,396 ) Non-current loans payable, net of discount $ 18,688,471 Current portion of loans payable $ 9,479,479 Less: discount on current portion of loans payable 1,129,801 Current portion of loans payable, net of discount $ 8,349,678 * In default ** Funds received December 1 , 2023, after reporting period. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (1) This note was transferred from convertible notes payable because in August 2022 it was no longer convertible due to restrictions placed on the lender. (2) This promissory note was issued as part of a debt settlement whereby $ 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same. (3) This promissory note was issued as part of a debt settlement whereby $ 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 100,000 300,000 2,754,338 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same (4) This promissory note was issued as part of a debt settlement whereby $ 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 (5) This promissory note was issued as part of a debt settlement whereby $ 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 (6) The note, with an original principal amount of $ 350,000 35,000 50,000,000 0.025 3 271,250 271,250 12,878 105,538 31,106 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same (7) This promissory note was issued as part of a debt settlement whereby $ 9,200 6,944 16,144 25,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same (8) This promissory note was issued as part of a debt settlement whereby $ 79,500 28,925 108,425 145,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same (9) The note, with an original principal amount of $ 550,000 250,000 50,000,000 0.025 3 380,174 380,174 16,718 129,906 50,493 On November 28, 2023, the parties extended the maturity date from January 14, 2024 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (10) The note, with an original principal balance of $ 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 50,000,000 .0164 3 950,000 82,499 462,320 426,061 On November 28, 2023, the parties extended the maturity date from February 22, 2024 to March 1, 2025 with all other terms and conditions remaining the same (11) The unsecured note may be pre-payable at any time. Cash proceeds of $ 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 150,000,000 .0164 3 2,850,000 (12) The note, with an original principal balance of $ 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 85,000,000 .0164 3 1,615,000 199,482 530,181 264,037 (13) This loan, with an original principal balance of $ 4,000,160 184 27,000 81,000 (14) The note, with an original principal balance of $ 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 146,393 348,667 865,764 (15) Original $ 170,000 20,000 0 9,026 0 On November 29, 2023, the parties extended the maturity date from July 28, 2023 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (16) A warrant holder exchanged 955,000,000 3,000,000 15 2,960,500 39,500 4,923 14,216 16,552 (17) Original $ 400,000 50,000 0 27,821 0 On November 29, 2023, the parties extended the maturity date from September 7, 2023 to March 1, 2025 with all other terms and conditions remaining the same (18) Original $ 475,000 75,000 0 36,729 0 On November 29, 2023, the parties extended the maturity date from September 8, 2023 to March 1, 2025 with all other terms and conditions remaining the same (19) Original $ 350,000 50,000 13,295 25,585 0 On November 29, 2023, the parties extended the maturity date from October 13, 2023 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (20) On October 28, 2022 the Company entered into an loan facility with a lender for up to $ 4,000,000 500,000 329 400,000 350,000 50,000 61 October 28, 2022, $ 400,000 50,000 61 1 299,399 3,274 7,613 340,411 November 9, 2022, $ 400,000 50,000 61 299,750 3,234 7,510 340,929 November 10, 2022, $ 400,000 50,000 61 302,020 2,991 6,891 343,990 November 15, 2022, $ 400,000 50,000 61 299,959 3,295 7,665 340,151 January 11, 2023, $ 400,000 50,000 61 299,959 3,355 7,821 339,368 February 6, 2023, $ 400,000 50,000 61 299,959 3,231 7,503 340,923 April 5, 2023, $ 400,000 50,000 61 296,245 3,335 6,608 339,637 April 20, 2023, $ 400,000 50,000 61 302,219 2,723 4,930 347,290 May 11, 2023, $ 400,000 50,000 61 348,983 0 0 398,983 October 27 2023, $ 400,000 50,000 61 261,759 2,044 2,044 309,715 (21) On November 30, 2023 , the Company entered into an agreement where the lender will buy pay the Company $ 350,000 thirteen future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 35 15 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 12. LOANS PAYABLE Loans payable at February 28, 2023 consisted of the following: SCHEDULE OF LOANS PAYABLE Annual Date Maturity Description Principal Interest Rate July 18, 2016 July 18, 2017 Promissory note (35)* $ 3,500 22 % June 11, 2018 June 11, 2019 Promissory note (2)(#) — 25 % January 31, 2019 June 30, 2019 Promissory note (1)(#) — 15 % May 9, 2019 June 30, 2019 Promissory note (3)(#) — 15 % May 31, 2019 June 30, 2019 Promissory note (4)(#) — 15 % June 26, 2019 June 26, 2020 Promissory note (5)(#) — 15 % September 24, 2019 June 24, 2020 Promissory note (6)(#) — 15 % January 30, 2020 January 30, 2021 Promissory note (7)(#) — 15 % February 27, 2020 February 27, 2021 Promissory note (8)(#) — 15 % April 16, 2020 April 16, 2021 Promissory note (9)(#) — 15 % May 12, 2020 May 12, 2021 Promissory note (11)(#) — 15 % May 22, 2020 May 22, 2021 Promissory note (12)(#) — 15 % June 2, 2020 June 2, 2021 Promissory note (13)(#) — 15 % June 9, 2020 June 9, 2021 Promissory note (14)(#) — 15 % June 12, 2020 June 12, 2021 Promissory note (15)(#) — 15 % June 16, 2020 June 16, 2021 Promissory note (16)(#) — 15 % September 15, 2020 September 15, 2022 Promissory note (17)(#) — 10 % October 6, 2020 March 6, 2023 Promissory note (18)(#) — 12 % November 12, 2020 November 12, 2023 Promissory note (19)(#) — 12 % November 23, 2020 October 23, 2022 Promissory note (20)(#) — 15.5 % November 23, 2020 November 23, 2023 Promissory note (21)(#) — 15 % December 10, 2020 December 10, 2023 Promissory note (22)(#) — 12 % December 10, 2020 December 10, 2023 Promissory note (23) 3,921,168 12 % December 10, 2020 December 10, 2023 Promissory note (24) 3,054,338 12 % December 10, 2020 December 10, 2023 Promissory note (25) 165,605 12 % December 14, 2020 December 14, 2023 Promissory note (26) 310,375 12 % December 30, 2020 December 30, 2023 Promissory note (27) 350,000 12 % December 31, 2021 December 31, 2024 Promissory note (28) 25,000 12 % December 31, 2021 December 31, 2024 Promissory note (29) 145,000 12 % January 14, 2021 January 14, 2024 Promissory note (30) 550,000 12 % February 22, 2021 February 22, 2024 Promissory note (31) 1,650,000 12 % March 1, 2021 March 1, 2024 Promissory note (10) 6,000,000 12 % June 8, 2021 June 8, 2024 Promissory note (32) 2,750,000 12 % July 12, 2021 July 26, 2026 Promissory note (33) 3,884,360 7 % September 14, 2021 September 14, 2024 Promissory note (34) 1,650,000 12 % July 28, 2022 July 28, 2023 Promissory note (36) 170,000 15 % August 30, 2022 August 30,2024 Promissory note (38) 3,000,000 15 % September 7, 2022 September 7, 2023 Promissory note (37) 400,000 15 % September 8, 2022 September 8, 2023 Promissory note (39) 475,000 15 % October 13, 2022 October 13, 2023 Promissory note (40) 350,000 15 % October 28, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 9, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 10, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 15, 2022 October 31, 2026 Promissory note (41) 400,000 15 % January 11, 2023 October 31,2026 Promissory note (41) 400,000 15 % February 6, 2023 October 31,2026 Promissory note (41) 400,000 15 % $ 31,254,346 Less: current portion of loans payable (11,569,986 ) Less: discount on non-current loans payable (4,130,291 ) Non-current loans payable, net of discount $ 15,554,069 Current portion of loans payable $ 11,569,986 Less: discount on current portion of loans payable (1,651,597 ) Current portion of loans payable, net of discount $ 9,918,389 * In default. Default interest rate 22% (#) Loans with a principal balance of $ 1,661,953 342,138 2,004,091 62,979 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (1) Original $ 78,432 33% 25,882 (2) Repayable in 12 monthly instalments of $ 4,562 48,000 (3) Original $ 7,850 33 2,590 (4) Original $ 86,567 33 28,567 (5) Original $ 79,104 33 26,104 (6) Original $ 12,000 3,000 (7) Original $ 11,000 2,450 (8) Original $ 5,000 1,200 (9) Original $ 13,000 3,850 (10) The unsecured note may be pre-payable at any time. Cash proceeds of $ 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 0 0 150,000,000 .0164 3 2,850,000 (11) Original $ 43,500 8,000 (12) Original $ 85,000 15,000 (13) Original $ 62,000 12,000 (14) Original $ 31,000 6,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (15) Original $ 50,000 10,000 (16) Original $ 42,000 7,000 (17) Original $ 300,000 50,000 (18) Original principal of $ 150,000 2,000 8,500 (19) Original $ 110,000 10,000 70,000,000 0.00165 3 41,176 41,176 (20) Original principal of $ 65,000 4,060 (21) Original $ 300,000 25,000 230,000,000 0.00165 3 125,814 125,814 (22) Original $ 82,500 7,500 100,000,000 0.002 3 54,545 54,545 (23) This promissory note was issued as part of a debt settlement whereby $ 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 (24) This promissory note was issued as part of a debt settlement whereby $ 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 (25) This promissory note was issued as part of a debt settlement whereby $ 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 (26) This promissory note was issued as part of a debt settlement whereby $ 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (27) The note, with an original principal amount of $ 350,000 35,000 50,000,000 0.025 3 271,250 271,250 83,338 193,515 (28) This promissory note was issued as part of a debt settlement whereby $ 9,200 6,944 16,144 25,000 (29) This promissory note was issued as part of a debt settlement whereby $ 79,500 28,925 108,425 145,000 (30) The note, with an original principal amount of $ 550,000 250,000 50,000,000 0.025 3 380,174 380,174 127,897 239,336 (31) The note, with an original principal balance of $ 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 2,995,719 1,112,261 50,000,000 .0164 3 950,000 (32) The note, with an original principal balance of $ 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 455,527 794,218 85,000,000 .0164 3 1,615,000 (33) This loan, with an original principal balance of $ 4,000,160 184 115,800 (34) The note, with an original principal balance of $ 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 188,002 1,214,431 (35) This note was transferred from convertible notes payable because in August 2022 it was no longer convertible due to restrictions placed on the lender. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (36) Original $ 170,000 20,000 10,974 9,026 (37) Original $ 400,000 50,000 22,179 27,821 (38) A warrant holder exchanged 955,000,000 3,000,000 15% 2,960,500 39,500 8,632 30,868 (39) Original $ 475,000 75,000 38,271 32,909 (40) Original $ 350,000 50,000 17,091 46,407 (41) On October 28, 2022 the Company entered into an loan facility with a lender for up to $ 4,000,000 500,000 329 400,000 350,000 50,000 61 October 28, 2022, $ 400,000 50,000 61 1 299,399 1,375 348,024 November 9, 2022, $ 400,000 50,000 61 299,750 1,312 348,438 November 10, 2022, $ 400,000 50,000 61 302,020 1,139 350,881 November 15, 2022, $ 400,000 50,000 61 299,959 2,143 347,815 January 11, 2023, $ 400,000 50,000 61 299,959 802 347,189 February 6, 2023, $ 400,000 50,000 61 299,959 100 348,426 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Equity [Abstract] | ||
STOCKHOLDERS’ EQUITY (DEFICIT) | 12. STOCKHOLDERS’ EQUITY (DEFICIT) Summary or Preferred Stock Activity No preferred stock activity during the period. Summary of Preferred Stock Warrant Activity SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY Number of Series F Preferred Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2023 695 $ 1.00 10.00 Issued 244 1.00 9.88 Exercised — — — Forfeited and cancelled — — — Outstanding at November 30, 2023 939 $ 1.00 9.50 During the nine months ended November 30, 2023, as part of debt issuance the Company issued 244 1,209,206 Summary of Common Stock Activity The Company increased authorized common shares from 7,225,000,000 10,000,000,000 For the three months ended November 30, 2023, the Company issued 675,336,434 1,468,477 1,412,158 56,320 For the nine months ended November 30, 2023, the Company issued 1,859,901,628 7,841,466 7,527,190 314,276 6,500,000 44,460 83,200 38,640 12,100,000 The table below represent the common shares issued, issuable and outstanding at November 30, 2023 and February 28, 2023: SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING Common shares November 30, 2023 February 28, 2023 Issued 7,715,143,227 5,836,641,599 Issuable — 12,100,000 Issued, issuable and outstanding 7,715,143,227 5,848,741,599 Summary of Common Stock Warrant Activity For the three months and nine months ended November 30, 2023 and November 30, 2022, the Company recorded a total of $ 47,462 0 150,896 0 SUMMARY OF COMMON STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at February 28, 2023 314,217,451 $ 0.114 1.95 Issued — — — Exercised — — — Forfeited and cancelled — — — Outstanding at November 30, 2023 314,217,451 $ 0.114 1.20 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Summary of Common Stock Option Activity -Employee Stock Options SUMMARY OF COMMON STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at February 28 , 2023 95,725,000 $ 0.02 4.75 Issued — — — Exercised — — — Forfeited, extinguished and cancelled (21,275,000 ) $ 0.02 ( 4.60 ) Outstanding at August 31, 2023 74,450,000 $ 0.02 4.00 | 14. STOCKHOLDERS’ DEFICIT STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock: 20,000,000 0.001 Series E Preferred Stock The board of directors has designated 4,350,000 3,350,000 Series F Convertible Preferred Stock The board of directors has designated 4,350 1.00 2,533 Series G Preferred Stock The board of directors has designated 100,000 no 1,000 Summary of Preferred Stock Activity Series E Preferred Stock During the year ended February 28, 2023 there was no During the year ended February 28, 2022 Series E shareholders had the following activity: — A shareholder cancelled 1,000,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Series F Preferred Shares Each holder of Series F Convertible Preferred Shares may, at any time and from time to time convert all, but not less than all, of their shares into a number of fully paid and nonassessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Company on the date of conversion by three and 45 100ths (3.45) on a pro rata basis. On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Summary or Preferred Stock Activity During the year ended February 28, 2023 Series F shareholders had the following activity: — 1 366 During the year ended February 28, 2022 Series F shareholders had the following activity: — 40 367 five-year 1.00 33,015,214 — The warrant holder exercised the warrant in part to acquire 38 — The shareholder above converted 78 316,345,908 — Two Series F Preferred shareholders exchanged 83 7,546,775 116,104.232 — On July 12, 2021, the former director agreed to surrender his remaining 184 4,000,160 7 5 July 12, 2026 — On August 24, 2021the Series F preferred warrant holder agreed to not exercise his warrant privileges on his remaining 329 Unissued Series F Preferred Stock At both February 28, 2023 and February 28, 2022 there remains 46 99,086 During the year ending February 28, 2022 the Company redeemed (through cancellation) 19 74,984 500,000 425,016 4,000,000 Summary of Preferred Stock Warrant Activity SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY Number of Series F Preferred Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2022 329 $ 1.00 11.50 Issued 366 $ 1.00 10.00 Exercised — — — Forfeited and cancelled — — — Outstanding at February 28, 2023 695 $ 1.00 10.00 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Series G Preferred Stock During the year ended February 28, 2023 there was no During the year ending February 28, 2022 Series G shareholders had the following activity: — On achievement of objectives 3,4,5 and 8 of the equity awards described below the CEO was granted 1500 1,500,000 — The Company has accrued $ 1,979,500 479,500 1,500,000 Summary of Common Stock Activity The Company increased authorized common shares from 5,000,000,000 6,000,000,000 6,000,000,000 7,225,000,000 Summary of Common Stock Activity During the year ended, February 28, 2023, common shareholders had the following activity: — the Company issued 1,057,841,576 8,21,027 7,771,169 447,858 — the Company issued 17,500,000 — the Company issued 45,306,557 108,378,210 — the Company cancelled 17,116,894 10,000,000 118,500 During the year ending February 28, 2022, common shareholders had the following activity: — A Series F Preferred shareholder converted 78 316,345,998 — holders of certain convertible notes payable elected to convert a total of $ 825,000 71,955 1,750 31,042,436 — in June 2021, lenders exchanged debt having a face value of $ 7,546,775 6,894,099 116,104,232 6,455,396 438,703 — the Company entered into an investor relations contract whereby 2,100,000 109,200 — the Company issued 645,168,473 13,108,624 12,521,932 586,692 — warrant holders exercised warrants to acquire 411,000,000 395,022,447 The table below represent the common shares issued, issuable and outstanding at February 28, 2023 and February 28, 2022: SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING Common shares February 28, 2023 February 28, 2022 Issued 5,836,641,599 4,733,110,360 Issuable 12,100,000 2,100,000 Issued, issuable and outstanding 5,848,741,599 4,735,210,360 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Summary of Warrant and Stock Option Activity SUMMARY OF WARRANT AND STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Outstanding at February 29, 2021 619,523,492 $ 0.03 2.81 Issued 1,008,324,212 0.06 2.47 Exercised (411,000,000 ) 0.06 1.70 Forfeited and cancelled (2,043 ) — — Outstanding at February 28, 2022 1,216,845,661 $ 0.06 2.38 Adjusted (1) 66,750,000 0.011 1.41 Issued 94,000,000 0.010 4.69 Exercised (108,378,210 ) (0.011 ) 2.44 Forfeited and cancelled (955,000,000 ) (0.008 ) 1.33 Outstanding at February 28, 2023 314,217,451 $ 0.114 1.95 (1) Required dilution adjustment per warrant agreement For the years ended February 28, 2023 and February 28, 2022, the Company recorded a total of $ 0 0 For the years ended February 28, 2023 and February 28, 2022 the Company recorded a total of $ 240,550 1,678,550 499,500 479,500 During the year ended February 28, 2023 warrant holders had the following activity: — On August 30, 2022 a warrant holder exchanged 955,000,000 3,000,000 15 2,960,500 39,500 — On August 9, 2022 as part of a debt issuance the Company issued two 47,000,000 0.01 0.008 393,949 SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS Strike price $ 0.008 0.01 Fair value of Company’s common stock $ 0.012 Dividend yield 0.00 % Expected volatility 88.2 90.00 % Risk free interest rate 2.98 % Expected term (years) 5.00 — Cashless exercise of 108,378,210 45,306,557 During the year ended February 28, 2022 warrant holders had the following activity: — warrant holders exercised warrants to acquire 411,000,000 395,022,447 — in conjunction with debt disclosed in Note 11 (44), the Company issued warrants to a lender to purchase 170,000,000 0.064 3 2,035,033 300,000,000 0.135 3 4,749,005 250,000,000 0.037 3 1,284,783 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Strike price $ 0.135 0.037 Fair value of Company’s common stock $ 0.146 0.0071 Dividend yield 0.00 % Expected volatility 411.0 403.33 % Risk free interest rate 0.43 0.27 % Expected term (years) 3.00 — in conjunction with debt extensions on notes payable disclosed in Note 12 (10, 43, 44), the Company issued warrants to a lender to purchase a total 285,000,000 0.164 3 5,415,000 Strike price $ 0.0164 Fair value of Company’s common stock $ 0.019 Dividend yield 0.00 % Expected volatility 385.60 % Risk free interest rate 1.62 % Expected term (years) 3.00 — As share issuance costs to a broker the company issued warrants to acquire a total of 3,324,212 21,929 Strike price $ 0.041 0.029 Fair value of Company’s common stock $ 0.039 0.028 Dividend yield 0.00 % Expected volatility 35.30 35.90 % Risk free interest rate 0.46 0.95 % Expected term (years) 3.00 Summary of Common Stock Option Activity Summary of CEO Compensation Grant On April 9, 2021 the Company entered into an Employment Agreement with Chief Executive Officer, Steven Reinharz with a three- year term under the following terms whereby stock option awards will be granted if certain conditions are met: — A stock option award (option 1) will be granted to the employee to purchase 10,000,000 0.15 0.30 — A stock option award (option 2) will be granted to the employee to purchase 30,000,000 0.25 0.50 Objective #3 Sales in any fiscal quarter exceed the total sales in fiscal year 2021 for the first time. Award #3 : Five hundred (500) shares of Series G preferred stock. Objective #4 One hundred fifty (150) devices are deployed in the marketplace. Award #4 Two hundred fifty (250) shares of Series G preferred stock. Objective #5 Year-to-date sales at any point in fiscal year 2022 exceed One Million Dollars ($1,000,000). Award #5 Two hundred fifty (250) shares of Series G preferred stock. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Objective #6 The price per share of common stock has increased to and maintains a price of Ten Cents ($0.10) or more for ten (10) days in a thirty (30) day period. Award #6 Two hundred fifty (250) shares of Series G preferred stock. Objective #7 The price per share of common stock has increased to and maintains a price of Twenty Cents ($0.20) or more for ten (10) days in a thirty (30) day period. Award #7 Five hundred (500) shares of Series G preferred stock. Objective #8 The RAD 3.0 products are launched into the marketplace by November 30, 2021. Award #8 Five hundred (500) shares of Series G preferred stock. Objective #9 RAD receives an order for fifty (50) units from a single customer. Award #9 Five hundred (500) shares of Series G preferred stock. The fair value of the first two awards was obtained through the use of the Monte Carlo method was $ 69,350 499,500 1,979,500 1,500 1,500,000 On April 14, 2021, the Shareholders of Series E Preferred Stock and the Board of Directors of our Company (“Board”) approved and adopted the 2021 Incentive Stock Plan (the “2021 Plan”). On August 11, 2022 the Company amended the 2021 Plan increasing the maximum number of shares applicable to the 2021 Plan from 5,000,000 to 100,000,000. The purpose of the 2021 Plan is to promote the success of the Company by authorizing incentive awards to retain Directors, executives, selected Employees and Consultants, and reward participants for making major contributions to the success of the Company. The 2021 Plan authorizes the granting of stock options, restricted stock, restricted stock units, stock appreciation rights and stock awards. A total of one hundred million ( 100,000,000 During the year ended February 28, 2023 the Company had the following common stock option activity: — On September 1, 2022, the Company as part of the afore-mentioned Incentive Stock Option Plan issued 100,000,000 0.02 1,020,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SCHEDULE OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS Strike price $ 0.02 Fair value of Company’s common stock $ 0.01 Dividend yield 0.00 % Expected volatility 340.9 Risk free interest rate 3.39 % Expected term (years) 4.50 The Company recorded $ 122,050 — Options to purchase 4,275,000 During the year ended February 28, 2022 the Company had no common stock option activity: Summary of Common Stock Option Activity SUMMARY OF COMMON STOCK OPTION ACTIVITY Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2022 — $ — — Issued 100,000,000 $ 0.02 4.75 Exercised — — — Forfeited, extinguished and cancelled (4,275,000 ) $ 0.02 ( 4.75 Outstanding at November 30, 2022 95,725,000 $ 0.02 4.75 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | ||
COMMITMENTS AND CONTINGENCIES | 13. COMMITMENTS AND CONTINGENCIES Litigation Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s condensed consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. The related legal costs are expensed as incurred. Operating Lease On December 18, 2020, the Company entered into a 15-month lease agreement for office space at 18009 Sky Park Circle Suite E, Irvine CA, 92614, commencing on December 18, 2020 through to March 31, 2022 3,859 3,859 On March 10, 2021, the Company entered into a 10 year lease agreement for a manufacturing facility at 10800 Galaxie Avenue, Ferndale, Michigan, 48220, commencing on May 1, 2021 through to April 30, 2031 15,880 The base rent increase by 3% per annum commencing May 1, 2024 15,880 On September 30, 2021, the Company entered into a 3-year lease agreement for a vehicle commencing September 30, 2021 through to April 30, 2031 1,538 18,462 On January 28, 2022, the Company entered into a 2-year lease agreement for office space at 1516 E Edinger, Santa Ana, California, 92705, commencing on February 1, 2022 through to January 31, 2024 with a minimum base rent of $ 1,500 per month. The Company paid a security deposit of $ 1,500 . The Company’s leases are accounted for as operating leases. Rent expense and operating lease cost are recorded over the lease terms on a straight-line basis. Rent expense and operating lease cost was $ 64,081 189,164 61,005 194,653 SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES Maturity of Lease Liabilities Operating November 30, 2024 $ 229,016 November 30, 2025 207,558 November 30, 2026 207,558 November 30, 2027 207,558 November 30, 2028 207,558 November 30, 2029 and after 501,599 Total lease payments 1,560,847 Less: Interest (450,015 ) Present value of lease liabilities $ 1,110,832 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 15. COMMITMENTS AND CONTINGENCIES Litigation Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s condensed consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. The related legal costs are expensed as incurred. Operating Lease On December 18, 2020, the Company entered into a 15-month lease agreement for office space at 18009 Sky Park Circle Suite E, Irvine CA, 92614, commencing on December 18, 2020 through to March 31, 2022 3,859 3,859 On March 10, 2021, the Company entered into a 10 year lease agreement for q manufacturing facility at 10800 Galaxie Avenue, Ferndale, Michigan, 48220, commencing on May 1, 2021 through to April 30, 2031 with a minimum base rent of $ 15,880 15,880 On September 30, 2021, the Company entered into a 3-year lease agreement for a vehicle commencing September 30, 2021 through to April 30, 2031 1,538 18,462 On January 28, 2022, the Company entered into a 2-year lease agreement for office space at 1516 E Edinger, Santa Ana, California, 92705, commencing on February 1, 2022 through to January 31, 2024 with a minimum base rent of $ 1,500 per month. The Company paid a security deposit of $ 1,500 . The Company’s leases are accounted for as operating leases. Rent expense and operating lease cost are recorded over the lease terms on a straight-line basis. Rent expense and operating lease cost was $ 260,271 275,785 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES Maturity of Lease Liabilities Operating February 28, 2024 $ 248,669 2024 $ 248,669 February 28, 2025 219,863 2025 219,863 February 28, 2026 207,558 2026 207,558 February 28, 2027 207,558 2027 207,558 February 28, 2028 207,558 2028 207,558 February 28, 2029 and after 657,268 2029 and after 657,268 Total lease payments 1,748,474 Less: Interest (549,263 ) Present value of lease liabilities $ 1,199,211 |
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Earnings Per Share [Abstract] | ||
EARNINGS (LOSS) PER SHARE | 14. EARNINGS (LOSS) PER SHARE The net income (loss) per common share amounts were determined as follows: SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended November 30, November 30, 2023 2022 2023 2022 Numerator: Net income (loss) available to common shareholders $ (3,966,484 ) $ (4,085,660 ) $ (13,281,405 ) $ (12,930,211 ) Effect of common stock equivalents Add: interest expense on convertible debt — 22,438 — 27,863 Add: amortization of debt discount — 78,149 — 90,767 Add (less) loss (gain) on settlement of debt — — — (3,992 ) Add (less) loss (gain) on change of derivative liabilities — — — (3,595 ) Net income (loss) adjusted for common stock equivalents (3,966,484 ) (3,985,073 ) (13,281,405 ) (12,819,168 ) Denominator: Weighted average shares – basic 7,294,775,879 5,140,405,652 6,606,988,956 4,969,080,716 Net income (loss) per share – basic $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) Dilutive effect of common stock equivalents: Convertible Debt — — — — Preferred shares — — — — Warrants — — — — Total — — — — Denominator: Weighted average shares – diluted 7,294,775,879 5,140,405,652 6,606,988,956 4,969,080,716 Net income (loss) per share – diluted $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) The anti-dilutive shares of common stock equivalents for the three and nine months ended November 30, 2023 and 2022 were as follows: SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended November 30, November 30, 2023 2022 2023 2022 Convertible notes and accrued interest — 836,425,685 — 836,425,685 Convertible Series F Preferred Shares * 26,617,244,133 — 26,617,244,133 — Stock options and warrants 428,667,451 401,217,451 428,667,451 401,217,451 Total 27,045,911,584 1,237,643,136 27,045,911,584 1,237,643,136 * On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at November 30, 2023 and 2022 the dilutive effects would be as follows: For the Three and Nine Months Ended November 30, 2023 November 30, 2022 Convertible Series F Preferred Shares — 18,148,779,827 | 16. EARNINGS (LOSS) PER SHARE The net income (loss) per common share amounts were determined as follows: SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE For the Year Ended February 28, February 28, 2023 2022 Numerator: Net income (loss) available to common shareholders $ (18,109,457 ) $ (62,197,484 ) Effect of common stock equivalents Add: interest expense on convertible debt 47,075 24,954 Add (less) loss (gain) on change of derivative liabilities (3,595 ) (372,214 ) Net income (loss) adjusted for common stock equivalents (18,065,977 ) (62,544,744 ) Denominator: Weighted average shares - basic 5,091,857,082 4,029,658,082 Net income (loss) per share – basic $ (0.00 ) $ (0.02 ) Denominator: Weighted average shares – diluted 5,091,857,082 4,029,658,082 Net income (loss) per share – diluted $ (0.00 ) $ (0.02 ) The anti-dilutive shares of common stock equivalents for the years ended February 28, 2023 and February 28, 2022 were as follows: SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS For the Year Ended February 28, February 28, 2023 2022 Convertible notes and accrued interest — 4,927,561 Convertible Class F Preferred Shares * — — Stock options and warrants 496,942,251 1,256,845,661 Total 496,942,251 1,261,773,222 * On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at February 28, 2023 and 2022 the dilutive effects would be as follows: For the Year Ended February 28 2023 2022 Convertible Series F Preferred Shares 20,178,158,517 16,336,475,742 Anti-dilutive shares of common stock 20,178,158,517 16,336,475,742 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Subsequent Events [Abstract] | ||
SUBSEQUENT EVENTS | 15. SUBSEQUENT EVENTS Subsequent to November 30, 2023 through to January 12, 2024: — The Company issued 639,550 1,523,258 62,980 1,460,278 | 18. SUBSEQUENT EVENTS Subsequent to February 28, 2023 through to June 5, 2023, — the Company issued 280,929,190 1,400,194 81,285 1,318,909 — on March 19 ,2023 the shareholders approved an increase to its authorized common stock by 1,225,000,000 — on March 22, 2023 the Company entered into an Equity Financing Agreement whereby an investor shall invest up to $ 30,000,000 80% Closing Price for the Common Stock during the three (3) trading days preceding a purchase is equal to or greater than one cent ($.01) per share, the applicable purchase price shall equal eighty five percent (85%) of the lowest trade price in the 9 day preceding period 90 4.50 Agreement with Icon Capital Group (September 24, 2023 Placement Agent Agreement) Subsequent to our quarter ending June 30, 2023, we completed a September 24, 2023 Placement Agreement with JH Darbie & Company (“Darbie”) to introduce third party investors to us for which we are obligated to pay Darbie: (a) upon consummation of the closing of a financing on our behalf, a finder’s fee in cash equal to 8% of the gross proceeds of an equity/convertible security (4% of for Equity Lines of Credit) and/or cash equal to 3% of the gross proceeds of a non-convertible debt transaction; (b) pay Darbie non-callable warrants equal to 8% warrant coverage of the amount raised (0% warrant coverage for Equity Lines of Credit. In conjunction with (b), the warrants will entitle the holder to purchase our securities at a purchase price equal to 120% of the introduced party’s exercise price of the transaction or the public market closing price of our common stock on the date of the transaction, whichever is lower |
INVESTMENT
INVESTMENT | 12 Months Ended |
Feb. 28, 2023 | |
Investments, All Other Investments [Abstract] | |
INVESTMENT | 5. INVESTMENT On December 23, 2022 the Company entered into a Simple Agreement for Future Equity (SAFE) contract to invest $ 50,000 |
CONVERTIBLE NOTES PAYABLE
CONVERTIBLE NOTES PAYABLE | 12 Months Ended |
Feb. 28, 2023 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES PAYABLE | 9. CONVERTIBLE NOTES PAYABLE Convertible notes payable consisted of the following: SCHEDULE OF CONVERTIBLE NOTES PAYABLE Balance Balance Interest Conversion February 28, February 28, Issued Maturity Rate Rate per Share 2023 2022 July 18, 2016 July 18, 2017 * 8 % $ 0.003 (1) $ — $ 3,500 August 9, 2022 August 9, 2023 12 % $ 0.009 (2) — — $ — $ 3,500 (Less): current portion of convertible notes payable — (3,500 ) (Less): discount on noncurrent convertible notes payable — — Noncurrent convertible notes payable, net of discount $ — $ — Current portion of convertible notes payable $ — $ 3,500 (Less): discount on current portion of convertible notes payable — — Current portion of convertible notes payable, net of discount $ — $ 3,500 * This note was in default as of February 28, 2022. Default interest rate 22 (1) The conversion price was not subject to adjustment from forward or reverse stock splits. Effective in August 2022 this note (and accrued interest) was no longer convertible. (2) Subject to adjustment for dilutive issuances ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS During the years ended February 28, 2023 and February 28, 2022, the Company incurred original issue discounts of $ 75,000 0 393,949 438,835 524,699 775,986 All the notes above are unsecured. As of February 28, 2023, the Company had total accrued interest payable of $ 28,104 28,104 Convertible notes issued During the year ended February 28, 2023, the Company had the following convertible note activity: ● The Company transferred the above July 18, 2016 $ 3,500 ● On August 9, 2022 the Company entered into a new convertible note for $ 750,000 one year maturity 12 47,000,000 0.01 47,000,000 five year maturity 0.008 375,000 619,250 75,000 393,949 55,750 The Company determined that the embedded conversion features which result in a variable conversion rate, in the convertibles notes described below should be accounted for as derivative liabilities as a result of their variable conversion rates. During the year ended February 28, 2022, the Company had the following convertible note activity: ● the Company amended the January 27, 2021 agreement with the lender whereby the conversion rate was changed from $ 0.10 0.03 438,835 360,125 ● holders of certain convertible notes payable elected to convert a total of $ 825,000 71,955 1,750 31,042,436 ● the conversion rate of the January 19, 2021 note included above was reduced to $ 0.027 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
DERIVATIVE LIABILITIES
DERIVATIVE LIABILITIES | 12 Months Ended |
Feb. 28, 2023 | |
Derivative Liabilities | |
DERIVATIVE LIABILITIES | 13. DERIVATIVE LIABILITIES As of February 28, 2023, and February 28, 2022, the Company revalued the fair value of all of the Company’s derivative liabilities associated with the conversion features on the convertible notes payable and determined that it had a total derivative liability of $ 0 7,587 0 3,595 0 3,992 372,214 81,228 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Feb. 28, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 17. INCOME TAXES The Company has adopted ASC 740-10, “ Income Taxes” The income tax expense (benefit) consisted of the following for the fiscal years ended February 28, 2023 and February 28, 2022: SCHEDULE OF INCOME TAX EXPENSES (BENEFIT) February 28, 2023 February 28, 2022 Total current $ — $ — Total deferred — — Total $ — $ — Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following is a reconciliation of the expected statutory federal income tax provision to the actual income tax benefit for the fiscal years ended February 28, 2023 and February 28, 2022: SCHEDULE OF EXPECTED STATUTORY FEDERAL INCOME TAX PROVISION February 28, 2023 Federal statutory rate $ (3,803,000 ) State income tax benefit, net of federal benefit (859,400 ) Non deductible interest 415,800 Non deductible stock based compensation 155,400 Change in valuation allowance 4,091,200 Non deductible settlement losses - Non deductible changes in fair value of instruments - Other non deductible expenses - Total $ — February 28, 2022 Federal statutory rate $ (13,061,500 ) State income tax benefit, net of federal benefit (2,954,400 ) Non deductible interest 4,027,800 Non deductible settlement losses 8,515,100 Non deductible stock based compensation 169,400 Non deductible changes in fair value of instruments (95,800 ) Other non deductible expenses 600 Change in valuation allowance 3,398,800 Total $ — For the year ended February 28, 2023 and February 28, 2022, the expected tax benefit, temporary timing differences and long-term timing differences are calculated at the 21 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Significant components of the Company’s deferred tax assets and liabilities were as follows for the fiscal years February 28, 2023 and February 28, 2022: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES February 28, 2023 February 28, 2022 Deferred tax assets: Net operating loss carryforwards $ 12,651,115 $ 8,445,915 Debt discount - 114,000 Total deferred tax assets 12,651,115 8,559,915 Deferred tax liabilities: Depreciation — — Deferred revenue — — Total deferred tax liabilities — — Net deferred tax assets: Less valuation allowance (12,651,115 ) (8,559,915 ) Net deferred tax assets (liabilities) $ — $ — The Company has incurred losses since inception, therefore, the Company has no federal tax liability. Additionally there are limitations imposed by certain transactions which are deemed to be ownership changes which occurred in the Company on August 28, 2017. The net deferred tax asset generated by the loss carryforward has been fully reserved. The cumulative net operating loss carryforward was approximately $ 44,448,800 28,200,000 2030 Although the Company has tax loss carry-forwards, there is uncertainty as to utilization prior to their expiration. Accordingly, the future income tax asset amounts have been fully reserved by a valuation allowance. The Company has maintained a full valuation allowance against its deferred tax assets at February 28, 2023 and February 28, 2022. A valuation allowance is required to be recorded when it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Since the Company cannot be assured of realizing the net deferred tax asset, a full valuation allowance has been provided. The Company does not have any uncertain tax positions at February 28, 2023 and February 28, 2022 that would affect its effective tax rate. The Company does not anticipate a significant change in the amount of unrecognized tax benefits over the next twelve months. Because the Company is in a loss carryforward position, the Company is generally subject to US federal and state income tax examinations by tax authorities for all years for which a loss carryforward is available. If and when applicable, the Company will recognize interest and penalties as part of income tax expense. The Company’s tax returns for the years ended February 28, 2022, and February 28, 2021, and February 29, 2020 are open for examination under Federal statute of limitations. |
ACCOUNTING POLICIES (Policies)
ACCOUNTING POLICIES (Policies) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Accounting Policies [Abstract] | ||
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the condensing instructions on Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto in the Company’s latest Annual Report filed with the SEC on Form 10-K as filed on June 14, 2023. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Robotic Assistance Devices, Inc., Robotic Assistance Devices Group , Inc, Robotic Assistance Devices Mobile, Inc., On the Move Experience, LLC and On the OMV Transports, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. The results of operations for the nine months ended November 30, 2023 are not necessarily indicative of the results that may be expected for the entire year. | Basis of Presentation and Consolidation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the instructions on Form 10-K of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”). The audited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Robotic Assistance Devices, Inc., Robotic Assistance Devices Group , Inc, Robotic Assistance Devices Mobile , Inc. , On the Move Experience, LLC and OMV Transports, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates, judgements and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. The most significant estimates included in these consolidated financial statements are those associated with the assumptions used to value preferred stock and derivative liabilities. | Use of Estimates In order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must make estimates , judgements and assumptions that affect the amounts reported in the financial statements and determine whether contingent assets and liabilities, if any, are disclosed in the financial statements. The ultimate resolution of issues requiring these estimates and assumptions could differ significantly from resolution currently anticipated by management and on which the financial statements are based. The most significant estimates included in these consolidated financial statements are those associated with the assumptions used to value equity instruments used in debt settlements, amendments and extensions. |
Concentrations | Concentrations Loans payable At November 30, 2023 there were $ 32,473,345 28,190,506 87 31,254,345 26,540,506 85 | Concentrations Loans payable At February 28, 2023 there were $ 31,254,345 26,540,506 85 26,233,598 21,709,459 83 |
Cash | Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances. | Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances. |
Accounts Receivable | Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for uncollectible accounts. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances. There was an allowance of $ 61,000 39,000 61 62 | Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for credit losses. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances. There was an allowance of $ 39,000 33,890 48 63 |
Device Parts Inventory | Device Parts Inventory Device parts inventory is stated at the lower of cost or net realizable value using the weighted average cost method. The Company records a valuation reserve for obsolete and slow-moving inventory, relying principally on specific identification of such inventory. The Company uses these device parts in the assembly of revenue earning devices (and demo devices) as well as research and development. Depending on use, the Company will transfer the parts to the corresponding asset or expense if used in research and development. A charge to income is taken when factors that would result in a need for an increase in the valuation, such as excess or obsolete inventory, are noted. As of November 30, 2023 and February 28, 2023 there was a valuation reserve of $ 195,000 195,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | Device Parts Inventory Device parts inventory is stated at the lower of cost or net realizable value using the weighted average cost method. The Company records a valuation reserve for obsolete and slow-moving inventory, relying principally on specific identification of such inventory. The Company uses these device parts in the assembly of revenue earning devices (and demo devices) as well as research and development. Depending on use, the Company will transfer the parts to the corresponding asset or expense if used in research and development. A charge to income is taken when factors that would result in a need for an increase in the valuation, such as excess or obsolete inventory, are noted. At February 28, 2023 and at February 28, 2022 there was a valuation reserve of $ 195,000 65,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
Revenue Earning Devices | Revenue Earning Devices Revenue earning devices are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful life of 48 | Revenue Earning Devices Revenue earning devices are stated at cost. Depreciation is provided on a straight-line basis over the estimated useful life of 48 |
Fixed Assets | Fixed Assets Fixed assets are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from two five years SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment and software 2 3 Office equipment 4 Manufacturing equipment 7 Warehouse equipment 5 Tooling 2 Demo Devices 4 Vehicles 3 Leasehold improvements 5 The Company periodically evaluates the fair value of fixed assets whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Upon retirement or other disposition of fixed assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income. | Fixed Assets Fixed assets are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from three to five years . Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently. SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment 3 Furniture and fixtures 3 Office equipment 4 Warehouse equipment 5 Demo Devices 4 Vehicles 3 Leasehold improvements 5 The Company periodically evaluates the fair value of fixed assets whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Upon retirement or other disposition of fixed assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income. |
Research and Development | Research and Development Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development | Research and Development Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development no |
Contingencies | Contingencies Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. | Contingencies Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. |
Sales of Future Revenues | Sales of Future Revenues The Company has entered into transactions, as more fully described in footnote 8, in which it has received funding from investors in exchange for which it will make payments to those investors based on the level of sales of certain revenue categories, generally based on a percentage of sales for those certain revenues. The Company determines whether these agreements constitute sales of future revenues or are in substance debt based on the facts and circumstances of each agreement, with the following primary criteria determinative of whether the agreement constitutes a sale of future revenues or debt: ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) ● Does the agreement purport, in substance, to be a sale ● Does the Company have continuing involvement in the generation of cash flows due the investor ● Is the transaction cancellable by either party through payment of a lump sum or other transfer of assets ● Is the investors rate of return is implicitly limited by the terms of the agreement ● Does the Company’s revenue for a reporting period underlying the agreement have only a minimal impact on the investor’s rate of return ● Does the investor have recourse relating to payments due In the event a transaction is determined to be a sale of future revenues, it is recorded as deferred revenue and amortized using the sum-of-the-revenue method. In the event a transaction is determined to be debt, it is recorded as debt and amortized using the effective interest method. As of the date of these financial statements, the Company has determined that all such agreements are debt. | Sales of Future Revenues The Company has entered into transactions, as more fully described in footnote 10, in which it has received funding from investors in exchange for which it will make payments to those investors based on the level of sales of certain revenue categories, generally based on a percentage of sales for those certain revenues. The Company determines whether these agreements constitute sales of future revenues or are in substance debt based on the facts and circumstances of each agreement, with the following primary criteria determinative of whether the agreement constitutes a sale of future revenues or debt: ● Does the agreement purport, in substance, to be a sale ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ● Does the Company have continuing involvement in the generation of cash flows due the investor ● Is the transaction cancellable by either party through payment of a lump sum or other transfer of assets ● Is the investors rate of return implicitly limited by the terms of the agreement ● Does the Company’s revenue for a reporting period underlying the agreement have only a minimal impact on the investor’s rate of return ● Does the investor have recourse relating to payments due In the event a transaction is determined to be a sale of future revenues, it is recorded as deferred revenue and amortized using the sum-of-the-revenue method. In the event a transaction is determined to be debt, it is recorded as debt and amortized using the effective interest method. As of the date of these financial statements, the Company has determined that all such agreements are debt. |
Revenue Recognition | Revenue Recognition ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) 58 41 | Revenue Recognition ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue Recognition (Topic 605) 45 43 |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. ASC 740, Accounting for Income Taxes requires companies to recognize the effects of changes in tax laws and rates on deferred tax assets and liabilities and the retroactive effects of changes in tax laws in the period in which the new legislation is enacted. The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21% | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized when items of income and expense are recognized in the financial statements in different periods than when recognized in the tax return. Deferred tax assets arise when expenses are recognized in the financial statements before the tax returns or when income items are recognized in the tax return prior to the financial statements. Deferred tax assets also arise when operating losses or tax credits are available to offset tax payments due in future years. Deferred tax liabilities arise when income items are recognized in the financial statements before the tax returns or when expenses are recognized in the tax return prior to the financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. ASC 740, Accounting for Income Taxes requires companies to recognize the effects of changes in tax laws and rates on deferred tax assets and liabilities and the retroactive effects of changes in tax laws in the period in which the new legislation is enacted. The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21%. |
Leases | Leases Lease agreements are evaluated to determine if they are sales/finance leases meeting any of the following criteria at inception: (a) transfer of ownership of the underlying asset; (b) purchase option that is reasonably certain of being exercised; (c) the lease term is greater than a major part of the remaining estimated economic life of the underlying asset; or (d) if the present value of the sum of lease payments and any residual value guaranteed by the lessee that has not already been included in lease payments in accordance with ASC 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) If at its inception, a lease meets any of the four lease criteria above, the lease is classified by the Company as a sales/finance; and if none of the four criteria are met, the lease is classified by the Company as an operating lease. Operating lease payments are recognized as an expense in the income statement on a straight-line basis over the lease term, whereby an equal amount of rent expense is attributed to each period during the term of the lease, regardless of when actual payments are made. This generally results in rent expense in excess of cash payments during the early years of a lease and rent expense less than cash payments in the later years. The difference between rent expense recognized and actual rental payments is recorded as deferred rent and included in liabilities. | Leases Lease agreements are evaluated to determine if they are sales/finance leases meeting any of the following criteria at inception: (a) transfer of ownership of the underlying asset; (b) purchase option that is reasonably certain of being exercised; (c) the lease term is greater than a major part of the remaining estimated economic life of the underlying asset; or (d) if the present value of the sum of lease payments and any residual value guaranteed by the lessee that has not already been included in lease payments in accordance with ASC 842-10-30-5(f) equals or exceeds substantially all of the fair value of the underlying asset. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS If at its inception, a lease meets any of the four lease criteria above, the lease is classified by the Company as a sales/finance; and if none of the four criteria are met, the lease is classified by the Company as an operating lease. Operating lease payments are recognized as an expense in the income statement on a straight-line basis over the lease term, whereby an equal amount of rent expense is attributed to each period during the term of the lease, regardless of when actual payments are made. This generally results in rent expense in excess of cash payments during the early years of a lease and rent expense less than cash payments in the later years. The difference between rent expense recognized and actual rental payments is recorded as deferred rent and included in liabilities. |
Distinguishing Liabilities from Equity | Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity. Our Chief Executive Officer/ Chairman holds sufficient shares of the Company’s voting preferred stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO/ Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company, without the need to call a general meeting of common shareholders of the Company. Initial Measurement The Company records its financial instruments classified as liability, temporary equity or permanent equity at issuance at the fair value, or cash received. Subsequent Measurement – Financial Instruments Classified as Liabilities The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in fair value of its financial instruments classified as liabilities are recorded as other income (expenses). | Distinguishing Liabilities from Equity The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity. Our CEO and Chairman holds sufficient shares of the Company’s voting stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO and Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company without the need to call a general meeting of common shareholders of the Company. Initial Measurement The Company records its financial instruments classified as liability, temporary equity or permanent equity at issuance at the fair value, or cash received. Subsequent Measurement – Financial Instruments Classified as Liabilities The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in fair value of its financial instruments classified as liabilities are recorded as other income (expenses). |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows: ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 November 30, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 1,166,000 $ — $ — $ 1,166,000 February 28, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and advances, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. | Fair Value of Financial Instruments ASC Topic 820, Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 February 28, 2023 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 February 28, 2022 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 479,500 $ — $ — $ 479,500 Derivative liability – conversion features pursuant to convertible notes payable $ 7,587 $ — $ — $ 7,587 The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and advances, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. |
Earnings (Loss) per Share | Earnings (Loss) per Share Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS give effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excluded all dilutive potential shares if their effect is anti-dilutive. Basic loss per common share is computed based on the weighted average number of shares outstanding during the period. Diluted loss per share is computed in a manner similar to the basic loss per share, except the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of convertible debt and other such convertible instruments. Diluted loss per share contemplates a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | Earnings (Loss) per Share Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS give effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used to determine the number of shares assumed to be purchased from the exercise of stock options and/or warrants. Diluted EPS excluded all dilutive potential shares if their effect is anti-dilutive. Basic loss per common share is computed based on the weighted average number of shares outstanding during the period. Diluted loss per share is computed in a manner similar to the basic loss per share, except the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of convertible debt and other such convertible instruments. Diluted loss per share contemplates a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Recently Issued Accounting Standards Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity | Recently Issued Accounting Pronouncements Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (FASB) issued amended guidance on the accounting and reporting of income taxes. The guidance is intended to simplify the accounting for income taxes by removing exceptions related to certain intraperiod tax allocations and deferred tax liabilities; clarifying guidance primarily related to evaluating the step-up tax basis for goodwill in a business combination; and reflecting enacted changes in tax laws or rates in the annual effective tax rate. The Company adopted the new guidance effective February 1, 2021. There was no impact to the Company’s consolidated financial statements upon adoption. In January 2020, the FASB issued new guidance intended to clarify certain interactions between accounting standards related to equity securities, equity method investments and certain derivatives. The guidance addresses accounting for the transition into and out of the equity method of accounting and measuring certain purchased options and forward contracts to acquire investments. The Company adopted the new guidance effective February 1, 2021. There was no impact to the Company’s consolidated financial statements upon adoption. In August 2020, the FASB issued amended guidance on the accounting for convertible instruments and contracts in an entity’s own equity. The guidance removes the separation model for convertible debt instruments and preferred stock, amends requirements for conversion options to be classified in equity as well as amends diluted earnings per share (EPS) calculations for certain convertible debt instruments. The amended guidance is effective for interim and annual periods in 2022. The application of the amendments in the new guidance are to be applied either on a modified retrospective or a retrospective basis. We are currently assessing the effect that the adoption of this standard will have on the Company’s consolidated financial statements upon adoption. Recently Issued Accounting Standards Not Yet Adopted In March 2020, the FASB issued optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting and subsequently issued clarifying amendments. The guidance provides optional expedients and exceptions for accounting for contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. The optional guidance is effective upon issuance and can be applied on a prospective basis at any time between January 1, 2020 through December 31, 2022. The Company is currently evaluating the impact of adoption on its consolidated financial statements. In October 2021, the FASB issued amended guidance that requires acquiring entities to recognize and measure contract assets and liabilities in a business combination in accordance with existing revenue recognition guidance. The amended guidance is effective for interim and annual periods in 2023 and is to be applied prospectively. Early adoption is permitted on a retrospective basis to the beginning of the fiscal year of adoption. The adoption of this guidance will not have a material impact on the Company’s consolidated financial statements for prior acquisitions; however, the impact in future periods will be dependent upon the contract assets and contract liabilities acquired in future business combinations. |
ACCOUNTING POLICIES (Tables)
ACCOUNTING POLICIES (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Accounting Policies [Abstract] | ||
SCHEDULE OF FIXED ASSETS STATED AT COST | SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment and software 2 3 Office equipment 4 Manufacturing equipment 7 Warehouse equipment 5 Tooling 2 Demo Devices 4 Vehicles 3 Leasehold improvements 5 | SCHEDULE OF FIXED ASSETS STATED AT COST Computer equipment 3 Furniture and fixtures 3 Office equipment 4 Warehouse equipment 5 Demo Devices 4 Vehicles 3 Leasehold improvements 5 |
SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE | The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 November 30, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 1,166,000 $ — $ — $ 1,166,000 February 28, 2023 Liabilities Incentive compensation plan payable- revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 | The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE Amount at Fair Value Measurement Using Fair Value Level 1 Level 2 Level 3 February 28, 2023 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 979,000 $ — $ — $ 979,000 February 28, 2022 Liabilities Incentive compensation plan payable – revaluation of equity awards payable in Series G shares $ 479,500 $ — $ — $ 479,500 Derivative liability – conversion features pursuant to convertible notes payable $ 7,587 $ — $ — $ 7,587 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Revenue from Contract with Customer [Abstract] | ||
SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS | The following table presents revenues from contracts with customers disaggregated by product/service: SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS Three Months Three Months Nine Months Nine Months Device rental activities $ 416,062 $ 154,628 $ 997,754 $ 622,647 Direct sales of goods and services 180,918 247,771 370,797 432,393 Revenue $ 596,980 $ 402,399 $ 1,368,551 1,055,040 | The following table presents revenues from contracts with customers disaggregated by product/service: SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS Year Ended Year Ended Device rental activities $ 754,126 $ 592,401 Direct sales of goods and services 577,830 854,708 Revenue $ 1,331,956 $ 1,447,109 |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Leases | ||
SCHEDULE OF LEASE ASSETS AND LIABILITIES | Below is a summary of our lease assets and liabilities at November 30, 2023 and February 28, 2023. SCHEDULE OF LEASE ASSETS AND LIABILITIES Leases Classification November 30, 2023 February 28, 2023 Assets Operating Operating Lease Assets $ 1,115,447 $ 1,208,440 Liabilities Current Operating Current Operating Lease Liability $ 229,016 $ 248,670 Noncurrent Operating Noncurrent Operating Lease Liabilities 881,816 950,541 Total lease liabilities $ 1,110,832 $ 1,199,211 | Below is a summary of our lease assets and liabilities at February 28, 2023 and February 28, 2022. SCHEDULE OF LEASE ASSETS AND LIABILITIES Leases Classification February 28, 2023 February 28, 2022 Assets Operating Operating Lease Assets $ 1,208,440 $ 1,331,605 Liabilities Current Operating Current Operating Lease Liability $ 248,670 $ 254,027 Noncurrent Operating Noncurrent Operating Lease Liabilities 950,541 1,057,579 Total lease liabilities $ 1,199,211 $ 1,311,606 |
REVENUE EARNING DEVICES (Tables
REVENUE EARNING DEVICES (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Revenue Earning Devices | ||
REVENUE EARNING ROBOTS CONSISTED OF THE FOLLOWING | Revenue earning devices consisted of the following: SCHEDULE OF REVENUE EARNING DEVICES November 30, 2023 February 28, 2023 Revenue earning devices $ 3,321,560 $ 2,015,058 Less: Accumulated depreciation (1,209,664 ) (779,839 ) Total $ 2,111,896 $ 1,235,219 | Revenue earning robots consisted of the following: REVENUE EARNING ROBOTS CONSISTED OF THE FOLLOWING February 28, 2022 February 28, 2021 Revenue earning devices $ 2,015,058 $ 1,143,724 Less: Accumulated depreciation (779,839 ) (434,661 ) Property, Plant and Equipment, Other, Net $ 1,235,219 $ 709,063 |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Property, Plant and Equipment [Abstract] | ||
SCHEDULE OF FIXED ASSETS | Fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS November 30, 2023 February 28, 2023 Automobile $ 101,680 $ 101,680 Demo devices 184,438 69,010 Tooling 101,322 101,322 Machinery and equipment 8,825 8,825 Computer equipment 150,387 150,387 Office equipment 15,312 15,312 Furniture and fixtures 21,225 21,225 Warehouse equipment 17,076 14,561 Leasehold improvements 26,956 15,568 Fixed assets gross 627,221 497,890 Less: Accumulated depreciation (326,921 ) (182,002 ) Fixed assets, net of accumulated depreciation $ 300,300 $ 315,888 | Fixed assets consisted of the following: SCHEDULE OF FIXED ASSETS February 28, 2023 February 28, 2022 Automobile $ 101,680 $ 101,680 Demo devices 69,010 16,539 Tooling 101,322 — Machinery and equipment 8,825 — Computer equipment 150,387 36,742 Office equipment 15,312 15,312 Furniture and fixtures 21,225 — Warehouse equipment 14,561 11,415 Leasehold improvements 15,568 5,329 Fixed assets gross 497,890 187,017 Less: Accumulated depreciation (182,002 ) (49,065 ) Fixed assets, net of accumulated depreciation $ 315,888 $ 137,952 |
LOANS PAYABLE (Tables)
LOANS PAYABLE (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Debt Disclosure [Abstract] | ||
SCHEDULE OF LOANS PAYABLE | Loans payable at November 30, 2023 consisted of the following: SCHEDULE OF LOANS PAYABLE Annual Date Maturity Description Principal Interest Rate July 18, 2016 July 18, 2017 Promissory note (1)* $ 3,500 22 % December 10, 2020 March 1, 2025 Promissory note (2) 3,921,168 12 % December 10, 2020 March 1, 2025 Promissory note (3) 2,754,338 12 % December 10, 2020 December 10, 2023 Promissory note (4) 165,605 12 % December 14, 2020 December 14, 2023 Promissory note (5) 310,375 12 % December 30, 2020 March 1, 2025 Promissory note (6) 350,000 12 % January 1, 2021 March 1, 2025 Promissory note (7) 25,000 12 % January 1, 2021 March 1, 2025 Promissory note (8) 145,000 12 % January 14, 2021 March 1, 2025 Promissory note (9) 550,000 12 % February 22, 2021 March 1, 2025 Promissory note (10) 1,650,000 12 % March 1, 2021 March 1, 2024 Promissory note (11) 6,000,000 12 % June 8, 2021 June 8, 2024 Promissory note (12) 2,750,000 12 % July 12, 2021 July 26, 2026 Promissory note (13) 3,803,360 7 % September 14, 2021 September 14, 2024 Promissory note (14) 1,650,000 12 % July 28, 2022 March 1, 2025 Promissory note (15) 170,000 15 % August 30, 2022 August 30,2024 Promissory note (16) 3,000,000 15 % September 7, 2022 March 1, 2025 Promissory note (17) 400,000 15 % September 8, 2022 March 1, 2025 Promissory note (18) 475,000 15 % October 13, 2022 March 1, 2025 Promissory note (19) 350,000 15 % October 28, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 9, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 10, 2022 October 31, 2026 Promissory note (20) 400,000 15 % November 15, 2022 October 31, 2026 Promissory note (20) 400,000 15 % January 11, 2023 October 31, 2026 Promissory note (20) 400,000 15 % February 6, 2023 October 31, 2026 Promissory note (20) 400,000 15 % April 5. 2023 October 31, 2026 Promissory note (20) 400,000 15 % April 20, 23 October 31, 2026 Promissory note (20) 400,000 15 % May 11, 2023 October 31, 2026 Promissory note (20) 400,000 15 % October 27, 2023 October 31, 2026 Promissory note (20) 400,000 15 % November 30, 2023 October 31, 2025 Purchase Agreement (21)** — 35 % $ 32,473,346 Less: current portion of loans payable (9,479,479 ) Less: discount on non-current loans payable (4,305,396 ) Non-current loans payable, net of discount $ 18,688,471 Current portion of loans payable $ 9,479,479 Less: discount on current portion of loans payable 1,129,801 Current portion of loans payable, net of discount $ 8,349,678 * In default ** Funds received December 1 , 2023, after reporting period. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (1) This note was transferred from convertible notes payable because in August 2022 it was no longer convertible due to restrictions placed on the lender. (2) This promissory note was issued as part of a debt settlement whereby $ 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same. (3) This promissory note was issued as part of a debt settlement whereby $ 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 100,000 300,000 2,754,338 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same (4) This promissory note was issued as part of a debt settlement whereby $ 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 (5) This promissory note was issued as part of a debt settlement whereby $ 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 (6) The note, with an original principal amount of $ 350,000 35,000 50,000,000 0.025 3 271,250 271,250 12,878 105,538 31,106 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same (7) This promissory note was issued as part of a debt settlement whereby $ 9,200 6,944 16,144 25,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same (8) This promissory note was issued as part of a debt settlement whereby $ 79,500 28,925 108,425 145,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same (9) The note, with an original principal amount of $ 550,000 250,000 50,000,000 0.025 3 380,174 380,174 16,718 129,906 50,493 On November 28, 2023, the parties extended the maturity date from January 14, 2024 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (10) The note, with an original principal balance of $ 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 50,000,000 .0164 3 950,000 82,499 462,320 426,061 On November 28, 2023, the parties extended the maturity date from February 22, 2024 to March 1, 2025 with all other terms and conditions remaining the same (11) The unsecured note may be pre-payable at any time. Cash proceeds of $ 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 150,000,000 .0164 3 2,850,000 (12) The note, with an original principal balance of $ 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 85,000,000 .0164 3 1,615,000 199,482 530,181 264,037 (13) This loan, with an original principal balance of $ 4,000,160 184 27,000 81,000 (14) The note, with an original principal balance of $ 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 146,393 348,667 865,764 (15) Original $ 170,000 20,000 0 9,026 0 On November 29, 2023, the parties extended the maturity date from July 28, 2023 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (16) A warrant holder exchanged 955,000,000 3,000,000 15 2,960,500 39,500 4,923 14,216 16,552 (17) Original $ 400,000 50,000 0 27,821 0 On November 29, 2023, the parties extended the maturity date from September 7, 2023 to March 1, 2025 with all other terms and conditions remaining the same (18) Original $ 475,000 75,000 0 36,729 0 On November 29, 2023, the parties extended the maturity date from September 8, 2023 to March 1, 2025 with all other terms and conditions remaining the same (19) Original $ 350,000 50,000 13,295 25,585 0 On November 29, 2023, the parties extended the maturity date from October 13, 2023 to March 1, 2025 with all other terms and conditions remaining the same ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (20) On October 28, 2022 the Company entered into an loan facility with a lender for up to $ 4,000,000 500,000 329 400,000 350,000 50,000 61 October 28, 2022, $ 400,000 50,000 61 1 299,399 3,274 7,613 340,411 November 9, 2022, $ 400,000 50,000 61 299,750 3,234 7,510 340,929 November 10, 2022, $ 400,000 50,000 61 302,020 2,991 6,891 343,990 November 15, 2022, $ 400,000 50,000 61 299,959 3,295 7,665 340,151 January 11, 2023, $ 400,000 50,000 61 299,959 3,355 7,821 339,368 February 6, 2023, $ 400,000 50,000 61 299,959 3,231 7,503 340,923 April 5, 2023, $ 400,000 50,000 61 296,245 3,335 6,608 339,637 April 20, 2023, $ 400,000 50,000 61 302,219 2,723 4,930 347,290 May 11, 2023, $ 400,000 50,000 61 348,983 0 0 398,983 October 27 2023, $ 400,000 50,000 61 261,759 2,044 2,044 309,715 (21) On November 30, 2023 , the Company entered into an agreement where the lender will buy pay the Company $ 350,000 thirteen future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 35 15 | Loans payable at February 28, 2023 consisted of the following: SCHEDULE OF LOANS PAYABLE Annual Date Maturity Description Principal Interest Rate July 18, 2016 July 18, 2017 Promissory note (35)* $ 3,500 22 % June 11, 2018 June 11, 2019 Promissory note (2)(#) — 25 % January 31, 2019 June 30, 2019 Promissory note (1)(#) — 15 % May 9, 2019 June 30, 2019 Promissory note (3)(#) — 15 % May 31, 2019 June 30, 2019 Promissory note (4)(#) — 15 % June 26, 2019 June 26, 2020 Promissory note (5)(#) — 15 % September 24, 2019 June 24, 2020 Promissory note (6)(#) — 15 % January 30, 2020 January 30, 2021 Promissory note (7)(#) — 15 % February 27, 2020 February 27, 2021 Promissory note (8)(#) — 15 % April 16, 2020 April 16, 2021 Promissory note (9)(#) — 15 % May 12, 2020 May 12, 2021 Promissory note (11)(#) — 15 % May 22, 2020 May 22, 2021 Promissory note (12)(#) — 15 % June 2, 2020 June 2, 2021 Promissory note (13)(#) — 15 % June 9, 2020 June 9, 2021 Promissory note (14)(#) — 15 % June 12, 2020 June 12, 2021 Promissory note (15)(#) — 15 % June 16, 2020 June 16, 2021 Promissory note (16)(#) — 15 % September 15, 2020 September 15, 2022 Promissory note (17)(#) — 10 % October 6, 2020 March 6, 2023 Promissory note (18)(#) — 12 % November 12, 2020 November 12, 2023 Promissory note (19)(#) — 12 % November 23, 2020 October 23, 2022 Promissory note (20)(#) — 15.5 % November 23, 2020 November 23, 2023 Promissory note (21)(#) — 15 % December 10, 2020 December 10, 2023 Promissory note (22)(#) — 12 % December 10, 2020 December 10, 2023 Promissory note (23) 3,921,168 12 % December 10, 2020 December 10, 2023 Promissory note (24) 3,054,338 12 % December 10, 2020 December 10, 2023 Promissory note (25) 165,605 12 % December 14, 2020 December 14, 2023 Promissory note (26) 310,375 12 % December 30, 2020 December 30, 2023 Promissory note (27) 350,000 12 % December 31, 2021 December 31, 2024 Promissory note (28) 25,000 12 % December 31, 2021 December 31, 2024 Promissory note (29) 145,000 12 % January 14, 2021 January 14, 2024 Promissory note (30) 550,000 12 % February 22, 2021 February 22, 2024 Promissory note (31) 1,650,000 12 % March 1, 2021 March 1, 2024 Promissory note (10) 6,000,000 12 % June 8, 2021 June 8, 2024 Promissory note (32) 2,750,000 12 % July 12, 2021 July 26, 2026 Promissory note (33) 3,884,360 7 % September 14, 2021 September 14, 2024 Promissory note (34) 1,650,000 12 % July 28, 2022 July 28, 2023 Promissory note (36) 170,000 15 % August 30, 2022 August 30,2024 Promissory note (38) 3,000,000 15 % September 7, 2022 September 7, 2023 Promissory note (37) 400,000 15 % September 8, 2022 September 8, 2023 Promissory note (39) 475,000 15 % October 13, 2022 October 13, 2023 Promissory note (40) 350,000 15 % October 28, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 9, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 10, 2022 October 31, 2026 Promissory note (41) 400,000 15 % November 15, 2022 October 31, 2026 Promissory note (41) 400,000 15 % January 11, 2023 October 31,2026 Promissory note (41) 400,000 15 % February 6, 2023 October 31,2026 Promissory note (41) 400,000 15 % $ 31,254,346 Less: current portion of loans payable (11,569,986 ) Less: discount on non-current loans payable (4,130,291 ) Non-current loans payable, net of discount $ 15,554,069 Current portion of loans payable $ 11,569,986 Less: discount on current portion of loans payable (1,651,597 ) Current portion of loans payable, net of discount $ 9,918,389 * In default. Default interest rate 22% (#) Loans with a principal balance of $ 1,661,953 342,138 2,004,091 62,979 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (1) Original $ 78,432 33% 25,882 (2) Repayable in 12 monthly instalments of $ 4,562 48,000 (3) Original $ 7,850 33 2,590 (4) Original $ 86,567 33 28,567 (5) Original $ 79,104 33 26,104 (6) Original $ 12,000 3,000 (7) Original $ 11,000 2,450 (8) Original $ 5,000 1,200 (9) Original $ 13,000 3,850 (10) The unsecured note may be pre-payable at any time. Cash proceeds of $ 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 0 0 150,000,000 .0164 3 2,850,000 (11) Original $ 43,500 8,000 (12) Original $ 85,000 15,000 (13) Original $ 62,000 12,000 (14) Original $ 31,000 6,000 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (15) Original $ 50,000 10,000 (16) Original $ 42,000 7,000 (17) Original $ 300,000 50,000 (18) Original principal of $ 150,000 2,000 8,500 (19) Original $ 110,000 10,000 70,000,000 0.00165 3 41,176 41,176 (20) Original principal of $ 65,000 4,060 (21) Original $ 300,000 25,000 230,000,000 0.00165 3 125,814 125,814 (22) Original $ 82,500 7,500 100,000,000 0.002 3 54,545 54,545 (23) This promissory note was issued as part of a debt settlement whereby $ 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 (24) This promissory note was issued as part of a debt settlement whereby $ 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 (25) This promissory note was issued as part of a debt settlement whereby $ 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 (26) This promissory note was issued as part of a debt settlement whereby $ 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (27) The note, with an original principal amount of $ 350,000 35,000 50,000,000 0.025 3 271,250 271,250 83,338 193,515 (28) This promissory note was issued as part of a debt settlement whereby $ 9,200 6,944 16,144 25,000 (29) This promissory note was issued as part of a debt settlement whereby $ 79,500 28,925 108,425 145,000 (30) The note, with an original principal amount of $ 550,000 250,000 50,000,000 0.025 3 380,174 380,174 127,897 239,336 (31) The note, with an original principal balance of $ 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 2,995,719 1,112,261 50,000,000 .0164 3 950,000 (32) The note, with an original principal balance of $ 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 455,527 794,218 85,000,000 .0164 3 1,615,000 (33) This loan, with an original principal balance of $ 4,000,160 184 115,800 (34) The note, with an original principal balance of $ 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 188,002 1,214,431 (35) This note was transferred from convertible notes payable because in August 2022 it was no longer convertible due to restrictions placed on the lender. ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (36) Original $ 170,000 20,000 10,974 9,026 (37) Original $ 400,000 50,000 22,179 27,821 (38) A warrant holder exchanged 955,000,000 3,000,000 15% 2,960,500 39,500 8,632 30,868 (39) Original $ 475,000 75,000 38,271 32,909 (40) Original $ 350,000 50,000 17,091 46,407 (41) On October 28, 2022 the Company entered into an loan facility with a lender for up to $ 4,000,000 500,000 329 400,000 350,000 50,000 61 October 28, 2022, $ 400,000 50,000 61 1 299,399 1,375 348,024 November 9, 2022, $ 400,000 50,000 61 299,750 1,312 348,438 November 10, 2022, $ 400,000 50,000 61 302,020 1,139 350,881 November 15, 2022, $ 400,000 50,000 61 299,959 2,143 347,815 January 11, 2023, $ 400,000 50,000 61 299,959 802 347,189 February 6, 2023, $ 400,000 50,000 61 299,959 100 348,426 |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Equity [Abstract] | ||
SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY | Summary of Preferred Stock Warrant Activity SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY Number of Series F Preferred Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2023 695 $ 1.00 10.00 Issued 244 1.00 9.88 Exercised — — — Forfeited and cancelled — — — Outstanding at November 30, 2023 939 $ 1.00 9.50 | Summary of Preferred Stock Warrant Activity SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY Number of Series F Preferred Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2022 329 $ 1.00 11.50 Issued 366 $ 1.00 10.00 Exercised — — — Forfeited and cancelled — — — Outstanding at February 28, 2023 695 $ 1.00 10.00 |
SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING | The table below represent the common shares issued, issuable and outstanding at November 30, 2023 and February 28, 2023: SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING Common shares November 30, 2023 February 28, 2023 Issued 7,715,143,227 5,836,641,599 Issuable — 12,100,000 Issued, issuable and outstanding 7,715,143,227 5,848,741,599 | The table below represent the common shares issued, issuable and outstanding at February 28, 2023 and February 28, 2022: SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING Common shares February 28, 2023 February 28, 2022 Issued 5,836,641,599 4,733,110,360 Issuable 12,100,000 2,100,000 Issued, issuable and outstanding 5,848,741,599 4,735,210,360 |
SUMMARY OF COMMON STOCK WARRANT ACTIVITY | SUMMARY OF COMMON STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at February 28, 2023 314,217,451 $ 0.114 1.95 Issued — — — Exercised — — — Forfeited and cancelled — — — Outstanding at November 30, 2023 314,217,451 $ 0.114 1.20 | |
SUMMARY OF COMMON STOCK OPTION ACTIVITY | Summary of Common Stock Option Activity -Employee Stock Options SUMMARY OF COMMON STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at February 28 , 2023 95,725,000 $ 0.02 4.75 Issued — — — Exercised — — — Forfeited, extinguished and cancelled (21,275,000 ) $ 0.02 ( 4.60 ) Outstanding at August 31, 2023 74,450,000 $ 0.02 4.00 | Summary of Common Stock Option Activity SUMMARY OF COMMON STOCK OPTION ACTIVITY Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Years Outstanding at March 1, 2022 — $ — — Issued 100,000,000 $ 0.02 4.75 Exercised — — — Forfeited, extinguished and cancelled (4,275,000 ) $ 0.02 ( 4.75 Outstanding at November 30, 2022 95,725,000 $ 0.02 4.75 |
SUMMARY OF WARRANT AND STOCK OPTION ACTIVITY | Summary of Warrant and Stock Option Activity SUMMARY OF WARRANT AND STOCK OPTION ACTIVITY Number of Weighted Average Weighted Average Outstanding at February 29, 2021 619,523,492 $ 0.03 2.81 Issued 1,008,324,212 0.06 2.47 Exercised (411,000,000 ) 0.06 1.70 Forfeited and cancelled (2,043 ) — — Outstanding at February 28, 2022 1,216,845,661 $ 0.06 2.38 Adjusted (1) 66,750,000 0.011 1.41 Issued 94,000,000 0.010 4.69 Exercised (108,378,210 ) (0.011 ) 2.44 Forfeited and cancelled (955,000,000 ) (0.008 ) 1.33 Outstanding at February 28, 2023 314,217,451 $ 0.114 1.95 (1) Required dilution adjustment per warrant agreement | |
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS | SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS Strike price $ 0.008 0.01 Fair value of Company’s common stock $ 0.012 Dividend yield 0.00 % Expected volatility 88.2 90.00 % Risk free interest rate 2.98 % Expected term (years) 5.00 Strike price $ 0.135 0.037 Fair value of Company’s common stock $ 0.146 0.0071 Dividend yield 0.00 % Expected volatility 411.0 403.33 % Risk free interest rate 0.43 0.27 % Expected term (years) 3.00 Strike price $ 0.0164 Fair value of Company’s common stock $ 0.019 Dividend yield 0.00 % Expected volatility 385.60 % Risk free interest rate 1.62 % Expected term (years) 3.00 Strike price $ 0.041 0.029 Fair value of Company’s common stock $ 0.039 0.028 Dividend yield 0.00 % Expected volatility 35.30 35.90 % Risk free interest rate 0.46 0.95 % Expected term (years) 3.00 | |
SCHEDULE OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS | SCHEDULE OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS Strike price $ 0.02 Fair value of Company’s common stock $ 0.01 Dividend yield 0.00 % Expected volatility 340.9 Risk free interest rate 3.39 % Expected term (years) 4.50 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | ||
SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES | SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES Maturity of Lease Liabilities Operating November 30, 2024 $ 229,016 November 30, 2025 207,558 November 30, 2026 207,558 November 30, 2027 207,558 November 30, 2028 207,558 November 30, 2029 and after 501,599 Total lease payments 1,560,847 Less: Interest (450,015 ) Present value of lease liabilities $ 1,110,832 | SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES Maturity of Lease Liabilities Operating February 28, 2024 $ 248,669 2024 $ 248,669 February 28, 2025 219,863 2025 219,863 February 28, 2026 207,558 2026 207,558 February 28, 2027 207,558 2027 207,558 February 28, 2028 207,558 2028 207,558 February 28, 2029 and after 657,268 2029 and after 657,268 Total lease payments 1,748,474 Less: Interest (549,263 ) Present value of lease liabilities $ 1,199,211 |
EARNINGS (LOSS) PER SHARE (Tabl
EARNINGS (LOSS) PER SHARE (Tables) | 9 Months Ended | 12 Months Ended |
Nov. 30, 2023 | Feb. 28, 2023 | |
Earnings Per Share [Abstract] | ||
SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE | The net income (loss) per common share amounts were determined as follows: SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended November 30, November 30, 2023 2022 2023 2022 Numerator: Net income (loss) available to common shareholders $ (3,966,484 ) $ (4,085,660 ) $ (13,281,405 ) $ (12,930,211 ) Effect of common stock equivalents Add: interest expense on convertible debt — 22,438 — 27,863 Add: amortization of debt discount — 78,149 — 90,767 Add (less) loss (gain) on settlement of debt — — — (3,992 ) Add (less) loss (gain) on change of derivative liabilities — — — (3,595 ) Net income (loss) adjusted for common stock equivalents (3,966,484 ) (3,985,073 ) (13,281,405 ) (12,819,168 ) Denominator: Weighted average shares – basic 7,294,775,879 5,140,405,652 6,606,988,956 4,969,080,716 Net income (loss) per share – basic $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) Dilutive effect of common stock equivalents: Convertible Debt — — — — Preferred shares — — — — Warrants — — — — Total — — — — Denominator: Weighted average shares – diluted 7,294,775,879 5,140,405,652 6,606,988,956 4,969,080,716 Net income (loss) per share – diluted $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) | The net income (loss) per common share amounts were determined as follows: SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE For the Year Ended February 28, February 28, 2023 2022 Numerator: Net income (loss) available to common shareholders $ (18,109,457 ) $ (62,197,484 ) Effect of common stock equivalents Add: interest expense on convertible debt 47,075 24,954 Add (less) loss (gain) on change of derivative liabilities (3,595 ) (372,214 ) Net income (loss) adjusted for common stock equivalents (18,065,977 ) (62,544,744 ) Denominator: Weighted average shares - basic 5,091,857,082 4,029,658,082 Net income (loss) per share – basic $ (0.00 ) $ (0.02 ) Denominator: Weighted average shares – diluted 5,091,857,082 4,029,658,082 Net income (loss) per share – diluted $ (0.00 ) $ (0.02 ) |
SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS | The anti-dilutive shares of common stock equivalents for the three and nine months ended November 30, 2023 and 2022 were as follows: SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended November 30, November 30, 2023 2022 2023 2022 Convertible notes and accrued interest — 836,425,685 — 836,425,685 Convertible Series F Preferred Shares * 26,617,244,133 — 26,617,244,133 — Stock options and warrants 428,667,451 401,217,451 428,667,451 401,217,451 Total 27,045,911,584 1,237,643,136 27,045,911,584 1,237,643,136 * On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at November 30, 2023 and 2022 the dilutive effects would be as follows: For the Three and Nine Months Ended November 30, 2023 November 30, 2022 Convertible Series F Preferred Shares — 18,148,779,827 | The anti-dilutive shares of common stock equivalents for the years ended February 28, 2023 and February 28, 2022 were as follows: SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS For the Year Ended February 28, February 28, 2023 2022 Convertible notes and accrued interest — 4,927,561 Convertible Class F Preferred Shares * — — Stock options and warrants 496,942,251 1,256,845,661 Total 496,942,251 1,261,773,222 * On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at February 28, 2023 and 2022 the dilutive effects would be as follows: For the Year Ended February 28 2023 2022 Convertible Series F Preferred Shares 20,178,158,517 16,336,475,742 Anti-dilutive shares of common stock 20,178,158,517 16,336,475,742 |
CONVERTIBLE NOTES PAYABLE (Tabl
CONVERTIBLE NOTES PAYABLE (Tables) | 12 Months Ended |
Feb. 28, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVERTIBLE NOTES PAYABLE | Convertible notes payable consisted of the following: SCHEDULE OF CONVERTIBLE NOTES PAYABLE Balance Balance Interest Conversion February 28, February 28, Issued Maturity Rate Rate per Share 2023 2022 July 18, 2016 July 18, 2017 * 8 % $ 0.003 (1) $ — $ 3,500 August 9, 2022 August 9, 2023 12 % $ 0.009 (2) — — $ — $ 3,500 (Less): current portion of convertible notes payable — (3,500 ) (Less): discount on noncurrent convertible notes payable — — Noncurrent convertible notes payable, net of discount $ — $ — Current portion of convertible notes payable $ — $ 3,500 (Less): discount on current portion of convertible notes payable — — Current portion of convertible notes payable, net of discount $ — $ 3,500 * This note was in default as of February 28, 2022. Default interest rate 22 (1) The conversion price was not subject to adjustment from forward or reverse stock splits. Effective in August 2022 this note (and accrued interest) was no longer convertible. (2) Subject to adjustment for dilutive issuances |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Feb. 28, 2023 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF INCOME TAX EXPENSES (BENEFIT) | The income tax expense (benefit) consisted of the following for the fiscal years ended February 28, 2023 and February 28, 2022: SCHEDULE OF INCOME TAX EXPENSES (BENEFIT) February 28, 2023 February 28, 2022 Total current $ — $ — Total deferred — — Total $ — $ — |
SCHEDULE OF EXPECTED STATUTORY FEDERAL INCOME TAX PROVISION | The following is a reconciliation of the expected statutory federal income tax provision to the actual income tax benefit for the fiscal years ended February 28, 2023 and February 28, 2022: SCHEDULE OF EXPECTED STATUTORY FEDERAL INCOME TAX PROVISION February 28, 2023 Federal statutory rate $ (3,803,000 ) State income tax benefit, net of federal benefit (859,400 ) Non deductible interest 415,800 Non deductible stock based compensation 155,400 Change in valuation allowance 4,091,200 Non deductible settlement losses - Non deductible changes in fair value of instruments - Other non deductible expenses - Total $ — February 28, 2022 Federal statutory rate $ (13,061,500 ) State income tax benefit, net of federal benefit (2,954,400 ) Non deductible interest 4,027,800 Non deductible settlement losses 8,515,100 Non deductible stock based compensation 169,400 Non deductible changes in fair value of instruments (95,800 ) Other non deductible expenses 600 Change in valuation allowance 3,398,800 Total $ — |
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES | Significant components of the Company’s deferred tax assets and liabilities were as follows for the fiscal years February 28, 2023 and February 28, 2022: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES February 28, 2023 February 28, 2022 Deferred tax assets: Net operating loss carryforwards $ 12,651,115 $ 8,445,915 Debt discount - 114,000 Total deferred tax assets 12,651,115 8,559,915 Deferred tax liabilities: Depreciation — — Deferred revenue — — Total deferred tax liabilities — — Net deferred tax assets: Less valuation allowance (12,651,115 ) (8,559,915 ) Net deferred tax assets (liabilities) $ — $ — |
GENERAL INFORMATION (Details Na
GENERAL INFORMATION (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Aug. 28, 2017 | Mar. 31, 2023 | Nov. 30, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | Jul. 25, 2017 | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Common stock, issued | 7,715,143,227 | 7,715,143,227 | 5,848,741,599 | 4,735,210,360 | |||||
Cash flow from operating activities | $ 9,378,427 | $ 9,883,272 | $ 12,577,395 | $ 14,825,442 | |||||
Accumulated deficit | $ 125,535,116 | 125,535,116 | 112,253,711 | [1] | $ 94,144,254 | ||||
Working capital | $ 12,944,810 | 12,944,810 | 12,610,601 | ||||||
Minimum [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Other cost cutting management estimates | 200,000 | 200,000 | |||||||
Maximum [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Other cost cutting management estimates | $ 300,000 | $ 300,000 | |||||||
Common Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Common stock, issued | 7,715,143,227 | 7,715,143,227 | 5,836,641,599 | 4,733,110,360 | |||||
Purchase of common stock | $ 30,000,000 | $ 56,320 | $ 314,276 | $ 447,858 | $ 586,692 | ||||
Common Stock [Member] | Equity Financing Agreement [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Purchase of common stock | $ 12,500,000 | ||||||||
Robotic Assistance Devices LLC [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Common stock, issued | 10,000 | ||||||||
Robotic Assistance Devices LLC [Member] | Series E Preferred Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Number of shares isuued under acquisition | 3,350,000 | ||||||||
Robotic Assistance Devices LLC [Member] | Series F Preferred Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Number of shares isuued under acquisition | 2,450 | ||||||||
[1]Derived from audited information |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Nov. 30, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | ||
Cash flow from operating activities | $ 9,378,427 | $ 9,883,272 | $ 12,577,395 | $ 14,825,442 | |||
Accumulated deficit | $ 125,535,116 | 125,535,116 | 112,253,711 | [1] | 94,144,254 | ||
Working capital | 12,944,810 | 12,944,810 | 12,610,601 | ||||
Additional sale of common stock | 1,500,000 | 7,500,000 | |||||
Additional issuance of debt | 1,400,000 | ||||||
Minimum [Member] | |||||||
Other Nonrecurring Expense | 200,000 | 200,000 | |||||
Maximum [Member] | |||||||
Other Nonrecurring Expense | 300,000 | 300,000 | |||||
Common Stock [Member] | |||||||
Payments of Stock Issuance Costs | $ 30,000,000 | $ 56,320 | $ 314,276 | $ 447,858 | $ 586,692 | ||
[1]Derived from audited information |
SCHEDULE OF FIXED ASSETS STATED
SCHEDULE OF FIXED ASSETS STATED AT COST (Details) | Nov. 30, 2023 | Feb. 28, 2023 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 4 years | 4 years |
Manufacturing Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 7 years | |
Warehouse Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 5 years | 5 years |
Tooling [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 2 years | |
Demo Devices [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 4 years | 4 years |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 3 years | 3 years |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 5 years | 5 years |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 3 years | |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 3 years | |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 3 years | 3 years |
Minimum [Member] | Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 2 years | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 5 years | 5 years |
Maximum [Member] | Computer Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Fixed assets, useful life | 3 years |
SCHEDULE OF LIABILITIES MEASURE
SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 |
Platform Operator, Crypto-Asset [Line Items] | |||
Incentive compensation plan payable revaluation of equity awards payable in Series G shares | $ 1,166,000 | $ 979,000 | $ 479,500 |
Derivative liability - conversion features pursuant to convertible notes payable | 7,587 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Incentive compensation plan payable revaluation of equity awards payable in Series G shares | |||
Derivative liability - conversion features pursuant to convertible notes payable | |||
Fair Value, Inputs, Level 2 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Incentive compensation plan payable revaluation of equity awards payable in Series G shares | |||
Derivative liability - conversion features pursuant to convertible notes payable | |||
Fair Value, Inputs, Level 3 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Incentive compensation plan payable revaluation of equity awards payable in Series G shares | $ 1,166,000 | $ 979,000 | 479,500 |
Derivative liability - conversion features pursuant to convertible notes payable | $ 7,587 |
ACCOUNTING POLICIES (Details Na
ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | Jul. 18, 2016 | |
Product Information [Line Items] | ||||||
Loans payable | $ 32,473,345 | $ 32,473,345 | $ 31,254,345 | $ 26,233,598 | $ 3,500 | |
Allowance for Doubtful Accounts Receivable | 61,000 | 61,000 | 39,000 | 33,890 | ||
Inventory valuation reserves | $ 195,000 | $ 195,000 | $ 195,000 | 65,000 | ||
Depreciation life | 48 months | 48 months | 48 months | |||
Description of deferred tax assets and liabilities | The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21% | The Company’s gross deferred tax assets were revalued based on the reduction in the federal statutory tax rate from 35% to 21%. | ||||
Deferred development costs | $ 0 | $ 0 | ||||
Minimum [Member] | ||||||
Product Information [Line Items] | ||||||
Fixed assets, useful life | 3 years | 3 years | 3 years | |||
Maximum [Member] | ||||||
Product Information [Line Items] | ||||||
Fixed assets, useful life | 5 years | 5 years | 5 years | |||
Two Customer [Member] | ||||||
Product Information [Line Items] | ||||||
Percentage of revenue | 41% | 45% | 43% | |||
Four Customer [Member] | ||||||
Product Information [Line Items] | ||||||
Percentage of revenue | 58% | 58% | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Customer [Member] | ||||||
Product Information [Line Items] | ||||||
Percentage of accounts receivable | 61% | 63% | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customer [Member] | ||||||
Product Information [Line Items] | ||||||
Percentage of accounts receivable | 62% | 48% | ||||
Controller [Member] | ||||||
Product Information [Line Items] | ||||||
Loans additions | $ 28,190,506 | $ 26,540,506 | $ 21,709,459 | |||
Loans percentage | 87% | 87% | 85% | 83% |
SCHEDULE OF REVENUES FROM CONTR
SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Revenue from Contract with Customer [Abstract] | ||||||
Device rental activities | $ 416,062 | $ 154,628 | $ 997,754 | $ 622,647 | $ 754,126 | $ 592,401 |
Direct sales of goods and services | 180,918 | 247,771 | 370,797 | 432,393 | 577,830 | 854,708 |
Revenue | $ 596,980 | $ 402,399 | $ 1,368,551 | $ 1,055,040 | $ 1,331,956 | $ 1,447,109 |
SCHEDULE OF LEASE ASSETS AND LI
SCHEDULE OF LEASE ASSETS AND LIABILITIES (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | |
Leases | ||||
Operating lease assets | $ 1,115,447 | $ 1,208,440 | $ 1,331,605 | |
Current operating lease liability | 229,016 | 248,670 | [1] | 254,027 |
Noncurrent operating lease liabilities | 881,816 | 950,541 | [1] | 1,057,579 |
Total lease liabilities | $ 1,110,832 | $ 1,199,211 | $ 1,311,606 | |
[1]Derived from audited information |
LEASES (Details Narrative)
LEASES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Leases | ||||||
Weighted average remaining lease term | 12 months | 12 months | 12 months | |||
Rent | $ 64,081 | $ 61,005 | $ 189,164 | $ 194,653 | $ 260,271 | $ 275,785 |
Operating lease cost | $ 64,081 | $ 61,005 | $ 189,164 | $ 194,653 | $ 260,271 | $ 275,785 |
SCHEDULE OF REVENUE EARNING DEV
SCHEDULE OF REVENUE EARNING DEVICES (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2021 |
Revenue Earning Devices | ||||
Revenue earning devices | $ 3,321,560 | $ 2,015,058 | $ 2,015,058 | $ 1,143,724 |
Less: Accumulated depreciation | (1,209,664) | (779,839) | (779,839) | (434,661) |
Total | $ 2,111,896 | $ 1,235,219 | $ 1,235,219 | $ 709,063 |
REVENUE EARNING DEVICES (Detail
REVENUE EARNING DEVICES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Depreciation expense | $ 215,763 | $ 92,855 | $ 574,746 | $ 332,643 | $ 478,115 | $ 232,886 |
Robotic Assistance Devices LLC [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Revenue earning | 521,037 | 199,047 | 1,306,501 | 625,094 | 871,334 | 647,116 |
Depreciation expense | $ 165,370 | $ 54,418 | $ 429,825 | $ 241,957 | $ 345,178 | 208,510 |
Iinventory transfers | 647,116 | |||||
Deferred gain on disposal | 3,255 | |||||
Robotic Assistance Devices LLC [Member] | Minimum [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Disposed of a revenue earning device | 3,255 | |||||
Robotic Assistance Devices LLC [Member] | Maximum [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Disposed of a revenue earning device | $ 30,600 |
SCHEDULE OF FIXED ASSETS (Detai
SCHEDULE OF FIXED ASSETS (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | |
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | $ 627,221 | $ 497,890 | $ 187,017 | |
Less: Accumulated depreciation | (326,921) | (182,002) | (49,065) | |
Fixed assets, net of accumulated depreciation | 300,300 | 315,888 | [1] | 137,952 |
Automobiles [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 101,680 | 101,680 | 101,680 | |
Demo Devices [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 184,438 | 69,010 | 16,539 | |
Tools, Dies and Molds [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 101,322 | 101,322 | ||
Machinery and Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 8,825 | 8,825 | ||
Computer Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 150,387 | 150,387 | 36,742 | |
Office Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 15,312 | 15,312 | 15,312 | |
Furniture and Fixtures [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 21,225 | 21,225 | ||
Warehouse Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | 17,076 | 14,561 | 11,415 | |
Leasehold Improvements [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Fixed assets gross | $ 26,956 | $ 15,568 | $ 5,329 | |
[1]Derived from audited information |
FIXED ASSETS (Details Narrative
FIXED ASSETS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Additions to fixed assets | $ 258,402 | |||||
Vehicle net book value | $ 875 | |||||
Proceeds on disposal of fixed assets | 30,000 | |||||
Gain on disposal of fixed assets | 29,125 | |||||
Robotic Assistance Devices LLC [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Additions to fixed assets | $ 22,101 | $ 31,365 | $ 129,331 | $ 265,041 | 115,493 | |
Assets transfers from inventory | 11,661 | 19,961 | 115,428 | 47,440 | 52,471 | 12,868 |
Remaining additions to fixed assets | 10,440 | 11,404 | 13,903 | 217,601 | ||
Depreciation expense | $ 50,393 | $ 38,437 | $ 144,921 | $ 90,686 | $ 132,937 | $ 24,376 |
DEFERRED VARIABLE PAYMENT OBL_2
DEFERRED VARIABLE PAYMENT OBLIGATION (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
Aug. 27, 2021 | Mar. 01, 2021 | Aug. 27, 2020 | Jul. 01, 2020 | Apr. 22, 2020 | Feb. 29, 2020 | Dec. 30, 2019 | Nov. 18, 2019 | May 09, 2019 | Feb. 01, 2019 | Nov. 30, 2023 | May 31, 2021 | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | ||
Maximum amount of debt | $ 50,000 | $ 100,000 | $ 32,473,346 | $ 32,473,346 | $ 31,254,346 | |||||||||||
Accrued payment | 764,702 | 764,702 | ||||||||||||||
Default on payments | 497,149 | 497,149 | 325,600 | $ 90,300 | ||||||||||||
Default on payments | 542,177 | 325,600 | ||||||||||||||
Aggregate investment | $ 1,925,000 | |||||||||||||||
Total payment obligation | 2,525,000 | 2,525,000 | 2,525,000 | [1] | 2,525,000 | |||||||||||
Payment receive | 0 | $ 0 | $ 0 | 0 | ||||||||||||
Investors [Member] | ||||||||||||||||
Maximum amount of debt | $ 900,000 | |||||||||||||||
Percentage of exchange rate | 9% | |||||||||||||||
Debt instrument, date of first required payment | Feb. 29, 2020 | |||||||||||||||
Maximum amount of debt | $ 900,000 | |||||||||||||||
Investor One [Member] | ||||||||||||||||
Maximum amount of debt | 400,000 | $ 400,000 | ||||||||||||||
Percentage of exchange rate | 4% | |||||||||||||||
Investor Two [Member] | ||||||||||||||||
Maximum amount of debt | 50,000 | $ 50,000 | ||||||||||||||
Percentage of exchange rate | 1.11% | |||||||||||||||
Investor [Member] | ||||||||||||||||
Maximum amount of debt | $ 800,000 | $ 100,000 | $ 100,000 | |||||||||||||
Percentage of exchange rate | 14.25% | 2.75% | 1% | 1% | 2.25% | |||||||||||
Maximum amount of debt | $ 1,925,000 | $ 800,000 | 109,000 | $ 225,000 | $ 900,000 | |||||||||||
Description of variable payments terms | These variable payments (Payments) are to be made 30 days after the end of each fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount. | These variable payments (Payments) are to be made 30 days after the end of each fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount | ||||||||||||||
Description of disposition price | The FMV cannot exceed 43.77% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. As of March 1, 2021 as a result of the amendment with the first investor noted below. This aggregate asset disposition % was reduced from 43.77 % to 33.77% | The FMV cannot exceed 43.77% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. As of March 1, 2021 as a result of the amendment with the first investor noted below. This aggregate asset disposition % was reduced from 43.77 % to 33.77% | the FMV of all future Payments in one lump payment. The FMV cannot exceed 30% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. | The FMV cannot exceed 30% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments | ||||||||||||
Advance amount | 116,000 | |||||||||||||||
Investor received advanced | $ 50,000 | |||||||||||||||
Investor [Member] | Series F Preferred Stock [Member] | ||||||||||||||||
Purchase of warrant | 367 | 38 | ||||||||||||||
Exercise price | $ 1 | |||||||||||||||
Fair value of warrants | $ 33,015,214 | |||||||||||||||
Investor [Member] | Maximum [Member] | ||||||||||||||||
Percentage of exchange rate | 14.25% | |||||||||||||||
Percentage of total asset disposition price | 31% | |||||||||||||||
Investor [Member] | Minimum [Member] | ||||||||||||||||
Percentage of exchange rate | 9.65% | |||||||||||||||
Percentage of total asset disposition price | 21% | |||||||||||||||
Investor [Member] | Agreement [Member] | ||||||||||||||||
Maximum amount of debt | $ 900,000 | |||||||||||||||
Investor [Member] | Agreement One [Member] | ||||||||||||||||
Maximum amount of debt | 225,000 | |||||||||||||||
Investor [Member] | Agreement Two [Member] | ||||||||||||||||
Maximum amount of debt | $ 800,000 | |||||||||||||||
Investor Five [Member] | ||||||||||||||||
Description of variable payments terms | If the Payments would deplete RAD’s available cash by more than 20%, the payment may be deferred. The investor had agreed to pay $100,000 per month over an 8 month period with the first payment due July 2020 and the final payment no later than February 28, 2021. As at August 31, 2020 the investor had fully funded the $800,000 commitment | |||||||||||||||
Investor Six [Member] | ||||||||||||||||
Percentage of assets sold | 10% | |||||||||||||||
Investor Eight [Member] | ||||||||||||||||
Total payment obligation | $ 2,525,000 | $ 2,525,000 | $ 2,525,000 | $ 2,525,000 | ||||||||||||
[1]Derived from audited information |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | Jul. 18, 2016 | |
Related Party Transaction [Line Items] | |||||||
Net borrowings on loan payable - related party | $ 0 | $ 0 | $ 0 | $ 803,394 | |||
Loan payable-related party | 32,473,345 | $ 32,473,345 | 31,254,345 | 26,233,598 | $ 3,500 | ||
Interest expenses bearing | $ 90,000 | ||||||
Percentage of interest expense due to related party | 12% | ||||||
Interest accrued related party | 28,267 | $ 15,660 | 2,700 | ||||
Consulting fees for research and development | 526,723 | 794,460 | 2,185,998 | $ 2,735,589 | 3,578,981 | 2,258,819 | |
Deferred salary | 108,000 | ||||||
Stock based compensation | 337,896 | 481,000 | 740,050 | 2,158,050 | |||
Series G Preferred Stock [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Stock issued during period redeemable option | 1,500,000 | ||||||
Employment Agreement [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive compensation payable | $ 1,166,000 | $ 1,166,000 | 979,000 | ||||
Chief Executive Officer [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive compensation plan payable | 499,500 | 479,500 | |||||
Balance of incentive compensation payable | $ 979,000 | 479,500 | |||||
Stock issued during period redeemable option | $ 1,500,000 | ||||||
Chief Executive Officer [Member] | Series G Preferred Stock [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Share price | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |||
Stock issued during period redeemable option, shares | 1,500 | ||||||
Stock based compensation | $ 1,500,000 | ||||||
Chief Executive Officer [Member] | Employment Agreement [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Incentive compensation plan payable | $ 62,000 | $ 138,000 | $ 187,000 | $ 362,500 | |||
Related Party [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Loan payable-related party | 299,286 | 299,286 | $ 206,516 | $ 193,556 | |||
Balance due to related party | $ 222,754 | 222,754 | 108,000 | ||||
Interest expenses bearing | $ 183,625 | $ 108,000 | |||||
Percentage of interest expense due to related party | 12% | 12% |
OTHER DEBT _ VEHICLE LOAN (Deta
OTHER DEBT – VEHICLE LOAN (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jan. 27, 2021 | Nov. 30, 2017 | Dec. 31, 2016 | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2021 | Feb. 29, 2020 | Dec. 30, 2019 | |
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Vehicle loan secured by automobile | $ 32,473,346 | $ 32,473,346 | $ 31,254,346 | $ 50,000 | $ 100,000 | |||||||
Fair value of warrants | 75,000 | $ 0 | $ 0 | |||||||||
Loss on sale of vehicle | $ 360,125 | 38,740 | $ 3,992 | 3,992 | (33,068,313) | |||||||
Robotic Assistance Devices LLC [Member] | Secured Debt [Member] | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Vehicle loan secured by automobile | $ 47,661 | $ 47,704 | ||||||||||
Term of debt | 5 years | 5 years | ||||||||||
Payment of debt interest and principal | $ 923 | $ 1,019 | ||||||||||
Maturity date | Oct. 24, 2022 | Nov. 09, 2021 | ||||||||||
Outstanding balance of the loan | $ 21,907 | |||||||||||
Loss on sale of vehicle | 3,257 | |||||||||||
Current portion vehicle loan | 21,578 | 21,578 | $ 21,578 | |||||||||
Proceeds of disposal of vehicle offset against vehicle loan | 18,766 | |||||||||||
Remaining asset value | 5,515 | |||||||||||
Reclassification of fixed assets to vehicle for disposal | 13,251 | |||||||||||
Long-term vehicle loan | 16,944 | 16,944 | $ 16,944 | |||||||||
Total vehicle loan | $ 38,522 | $ 38,522 | $ 38,522 | $ 38,522 |
SCHEDULE OF LOANS PAYABLE (Deta
SCHEDULE OF LOANS PAYABLE (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |||||||
Nov. 30, 2023 | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 29, 2020 | Dec. 30, 2019 | |||||
Short-Term Debt [Line Items] | |||||||||
Principal | $ 32,473,346 | $ 32,473,346 | $ 31,254,346 | $ 50,000 | $ 100,000 | ||||
Annual interest rate | 22% | ||||||||
Current portion of loans payable | (9,479,479) | (9,479,479) | $ (11,569,986) | ||||||
Less: discount on non-current loans payable | (4,305,396) | (4,305,396) | (4,130,291) | ||||||
Non-current loans payable, net of discount | 18,688,471 | 18,688,471 | 15,554,069 | ||||||
Current portion of loans payable | 9,479,479 | 9,479,479 | 11,569,986 | ||||||
Less: discount on current portion of loans payable | 1,129,801 | 1,129,801 | (1,651,597) | ||||||
Current portion of loans payable, net of discount | 8,349,678 | $ 8,349,678 | $ 9,918,389 | ||||||
Promissory Note Payable One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jul. 18, 2016 | [1],[2] | Jul. 18, 2016 | [3],[4] | |||||
Maturity date | Jul. 18, 2017 | [1],[2] | Jul. 18, 2017 | [3],[4] | |||||
Principal | $ 3,500 | [1],[2] | $ 3,500 | [1],[2] | $ 3,500 | [3],[4] | |||
Annual interest rate | 22% | [1],[2] | 22% | [1],[2] | 22% | [3],[4] | |||
Promissory Note Payable Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Dec. 10, 2020 | [5] | Jun. 11, 2018 | [6],[7] | |||||
Maturity date | Mar. 01, 2025 | [5] | Jun. 11, 2019 | [6],[7] | |||||
Principal | $ 3,921,168 | [5] | $ 3,921,168 | [5] | [6],[7] | ||||
Annual interest rate | 12% | [5] | 12% | [5] | 25% | [6],[7] | |||
Promissory Note Payable Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Dec. 10, 2020 | [8] | Jan. 31, 2019 | [6],[9] | |||||
Maturity date | Mar. 01, 2025 | [8] | Jun. 30, 2019 | [6],[9] | |||||
Principal | $ 2,754,338 | [8] | $ 2,754,338 | [8] | [6],[9] | ||||
Annual interest rate | 12% | [8] | 12% | [8] | 15% | [6],[9] | |||
Promissory Note Payable Four [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Dec. 10, 2020 | [10] | May 09, 2019 | [6],[11] | |||||
Maturity date | Dec. 10, 2023 | [10] | Jun. 30, 2019 | [6],[11] | |||||
Principal | $ 165,605 | [10] | $ 165,605 | [10] | [6],[11] | ||||
Annual interest rate | 12% | [10] | 12% | [10] | 15% | [6],[11] | |||
Promissory Note Payable Five [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Dec. 14, 2020 | [12] | May 31, 2019 | [6],[13] | |||||
Maturity date | Dec. 14, 2023 | [12] | Jun. 30, 2019 | [6],[13] | |||||
Principal | $ 310,375 | [12] | $ 310,375 | [12] | [6],[13] | ||||
Annual interest rate | 12% | [12] | 12% | [12] | 15% | [6],[13] | |||
Promissory Note Payable Six [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Dec. 30, 2020 | [14] | Jun. 26, 2019 | [6],[15] | |||||
Maturity date | Mar. 01, 2025 | [14] | Jun. 26, 2020 | [6],[15] | |||||
Principal | $ 350,000 | [14] | $ 350,000 | [14] | [6],[15] | ||||
Annual interest rate | 12% | [14] | 12% | [14] | 15% | [6],[15] | |||
Promissory Note Payable Seven [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jan. 01, 2021 | [16] | Sep. 24, 2019 | [6],[17] | |||||
Maturity date | Mar. 01, 2025 | [16] | Jun. 24, 2020 | [6],[17] | |||||
Principal | $ 25,000 | [16] | $ 25,000 | [16] | [6],[17] | ||||
Annual interest rate | 12% | [16] | 12% | [16] | 15% | [6],[17] | |||
Promissory Note Payable Eight [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jan. 01, 2021 | [18] | Jan. 30, 2020 | [6],[19] | |||||
Maturity date | Mar. 01, 2025 | [18] | Jan. 30, 2021 | [6],[19] | |||||
Principal | $ 145,000 | [18] | $ 145,000 | [18] | [6],[19] | ||||
Annual interest rate | 12% | [18] | 12% | [18] | 15% | [6],[19] | |||
Promissory Note Payable Nine [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jan. 14, 2021 | [20] | Feb. 27, 2020 | [6] | |||||
Maturity date | Mar. 01, 2025 | [20] | Feb. 27, 2021 | [6] | |||||
Principal | $ 550,000 | [20] | $ 550,000 | [20] | [6] | ||||
Annual interest rate | 12% | [20] | 12% | [20] | 15% | [6] | |||
Promissory Note Payable Ten [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Feb. 22, 2021 | [21] | Apr. 16, 2020 | [6],[22] | |||||
Maturity date | Mar. 01, 2025 | [21] | Apr. 16, 2021 | [6],[22] | |||||
Principal | $ 1,650,000 | [21] | $ 1,650,000 | [21] | [6],[22] | ||||
Annual interest rate | 12% | [21] | 12% | [21] | 15% | [6],[22] | |||
Promissory Note Payable Eleven [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Mar. 01, 2021 | [23] | May 12, 2020 | [6],[24] | |||||
Maturity date | Mar. 01, 2024 | [23] | May 12, 2021 | [6],[24] | |||||
Principal | $ 6,000,000 | [23] | $ 6,000,000 | [23] | [6],[24] | ||||
Annual interest rate | 12% | [23] | 12% | [23] | 15% | [6],[24] | |||
Promissory Note Payable Twelve [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jun. 08, 2021 | [25] | May 22, 2020 | [6],[26] | |||||
Maturity date | Jun. 08, 2024 | [25] | May 22, 2021 | [6],[26] | |||||
Principal | $ 2,750,000 | [25] | $ 2,750,000 | [25] | [6],[26] | ||||
Annual interest rate | 12% | [25] | 12% | [25] | 15% | [6],[26] | |||
Promissory Note Payable Thirteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jul. 12, 2021 | [27] | Jun. 02, 2020 | [6],[28] | |||||
Maturity date | Jul. 26, 2026 | [27] | Jun. 02, 2021 | [6],[28] | |||||
Principal | $ 3,803,360 | [27] | $ 3,803,360 | [27] | [6],[28] | ||||
Annual interest rate | 7% | [27] | 7% | [27] | 15% | [6],[28] | |||
Promissory Note Payable Fourteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Sep. 14, 2021 | [29] | Jun. 09, 2020 | [6],[30] | |||||
Maturity date | Sep. 14, 2024 | [29] | Jun. 09, 2021 | [6],[30] | |||||
Principal | $ 1,650,000 | [29] | $ 1,650,000 | [29] | [6],[30] | ||||
Annual interest rate | 12% | [29] | 12% | [29] | 15% | [6],[30] | |||
Promissory Note Payable Fifteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jul. 28, 2022 | [31] | Jun. 12, 2020 | [6],[32] | |||||
Maturity date | Mar. 01, 2025 | [31] | Jun. 12, 2021 | [6],[32] | |||||
Principal | $ 170,000 | [31] | $ 170,000 | [31] | [6],[32] | ||||
Annual interest rate | 15% | [31] | 15% | [31] | 15% | [6],[32] | |||
Promissory Note Payable Sixteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Aug. 30, 2022 | [33] | Jun. 16, 2020 | [6],[34] | |||||
Maturity date | Aug. 30, 2024 | [33] | Jun. 16, 2021 | [6],[34] | |||||
Principal | $ 3,000,000 | [33] | $ 3,000,000 | [33] | [6],[34] | ||||
Annual interest rate | 15% | [33] | 15% | [33] | 15% | [6],[34] | |||
Promissory Note Payable Seventeen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Sep. 07, 2022 | [35] | Sep. 15, 2020 | [6],[36] | |||||
Maturity date | Mar. 01, 2025 | [35] | Sep. 15, 2022 | [6],[36] | |||||
Principal | $ 400,000 | [35] | $ 400,000 | [35] | [6],[36] | ||||
Annual interest rate | 15% | [35] | 15% | [35] | 10% | [6],[36] | |||
Promissory Note Payable Eighteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Sep. 08, 2022 | [37] | Oct. 06, 2020 | [6],[38] | |||||
Maturity date | Mar. 01, 2025 | [37] | Mar. 06, 2023 | [6],[38] | |||||
Principal | $ 475,000 | [37] | $ 475,000 | [37] | [6],[38] | ||||
Annual interest rate | 15% | [37] | 15% | [37] | 12% | [6],[38] | |||
Promissory Note Payable Nineteen [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Oct. 13, 2022 | [39] | Nov. 12, 2020 | [6],[40] | |||||
Maturity date | Mar. 01, 2025 | [39] | Nov. 12, 2023 | [6],[40] | |||||
Principal | $ 350,000 | [39] | $ 350,000 | [39] | [6],[40] | ||||
Annual interest rate | 15% | [39] | 15% | [39] | 12% | [6],[40] | |||
Promissory Note Payable Twenty [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Oct. 28, 2022 | [41] | Nov. 23, 2020 | [6],[42] | |||||
Maturity date | Oct. 31, 2026 | [41] | Oct. 23, 2022 | [6],[42] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | [6],[42] | ||||
Annual interest rate | 15% | [41] | 15% | [41] | 15.50% | [6],[42] | |||
Promissory Note Payable Twenty One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Nov. 09, 2022 | [41] | Nov. 23, 2020 | [6],[43] | |||||
Maturity date | Oct. 31, 2026 | [41] | Nov. 23, 2023 | [6],[43] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | [6],[43] | ||||
Annual interest rate | 15% | [41] | 15% | [41] | 15% | [6],[43] | |||
Promissory Note Payable Twenty Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Nov. 10, 2022 | [41] | Dec. 10, 2020 | [6],[44] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 10, 2023 | [6],[44] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | [6],[44] | ||||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [6],[44] | |||
Promissory Note Payable Twenty Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Nov. 15, 2022 | [41] | Dec. 10, 2020 | [45] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 10, 2023 | [45] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 3,921,168 | [45] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [45] | |||
Promissory Note Payable Twenty Four [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Jan. 11, 2023 | [41] | Dec. 10, 2020 | [46] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 10, 2023 | [46] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 3,054,338 | [46] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [46] | |||
Promissory Note Payable Twenty Five [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Feb. 06, 2023 | [41] | Dec. 10, 2020 | [47] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 10, 2023 | [47] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 165,605 | [47] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [47] | |||
Promissory Note Payable Twenty Six [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Apr. 05, 2023 | [41] | Dec. 14, 2020 | [48] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 14, 2023 | [48] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 310,375 | [48] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [48] | |||
Promissory Note Payable Twenty Seven [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Apr. 20, 2023 | [41] | Dec. 30, 2020 | [49] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 30, 2023 | [49] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 350,000 | [49] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [49] | |||
Promissory Note Payable Twenty Eight [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | May 11, 2023 | [41] | Dec. 31, 2021 | [50] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 31, 2024 | [50] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 25,000 | [50] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [50] | |||
Promissory Note Payable Twenty Nine [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Oct. 27, 2023 | [41] | Dec. 31, 2021 | [51] | |||||
Maturity date | Oct. 31, 2026 | [41] | Dec. 31, 2024 | [51] | |||||
Principal | $ 400,000 | [41] | $ 400,000 | [41] | $ 145,000 | [51] | |||
Annual interest rate | 15% | [41] | 15% | [41] | 12% | [51] | |||
Promissory Note Payable Thirty [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | Nov. 30, 2023 | [52],[53] | Jan. 14, 2021 | [54] | |||||
Maturity date | Oct. 31, 2025 | [52],[53] | Jan. 14, 2024 | [54] | |||||
Principal | [52],[53] | [52],[53] | $ 550,000 | [54] | |||||
Annual interest rate | 35% | [52],[53] | 35% | [52],[53] | 12% | [54] | |||
Promissory Note Payable Thirty [Member] | Lender [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Annual interest rate | 35% | 35% | |||||||
Default rate | 15% | ||||||||
Promissory Note Payable Thirty One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [55] | Feb. 22, 2021 | |||||||
Maturity date | [55] | Feb. 22, 2024 | |||||||
Principal | [55] | $ 1,650,000 | |||||||
Annual interest rate | [55] | 12% | |||||||
Promissory Note Payable Thirty Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [56] | Mar. 01, 2021 | |||||||
Maturity date | [56] | Mar. 01, 2024 | |||||||
Principal | [56] | $ 6,000,000 | |||||||
Annual interest rate | [56] | 12% | |||||||
Promissory Note Payable Thirty Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [57] | Jun. 08, 2021 | |||||||
Maturity date | [57] | Jun. 08, 2024 | |||||||
Principal | [57] | $ 2,750,000 | |||||||
Annual interest rate | [57] | 12% | |||||||
Promissory Note Payable Thirty Four [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [58] | Jul. 12, 2021 | |||||||
Maturity date | [58] | Jul. 26, 2026 | |||||||
Principal | [58] | $ 3,884,360 | |||||||
Annual interest rate | [58] | 7% | |||||||
Promissory Note Payable Thirty Five [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [59] | Sep. 14, 2021 | |||||||
Maturity date | [59] | Sep. 14, 2024 | |||||||
Principal | [59] | $ 1,650,000 | |||||||
Annual interest rate | [59] | 12% | |||||||
Promissory Note Payable Thirty Six [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [60] | Jul. 28, 2022 | |||||||
Maturity date | [60] | Jul. 28, 2023 | |||||||
Principal | [60] | $ 170,000 | |||||||
Annual interest rate | [60] | 15% | |||||||
Promissory Note Payable Thirty Seven [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [61] | Aug. 30, 2022 | |||||||
Maturity date | [61] | Aug. 30, 2024 | |||||||
Principal | [61] | $ 3,000,000 | |||||||
Annual interest rate | [61] | 15% | |||||||
Promissory Note Payable Thirty Eight [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [62] | Sep. 07, 2022 | |||||||
Maturity date | [62] | Sep. 07, 2023 | |||||||
Principal | [62] | $ 400,000 | |||||||
Annual interest rate | [62] | 15% | |||||||
Promissory Note Payable Thirty Nine [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [63] | Sep. 08, 2022 | |||||||
Maturity date | [63] | Sep. 08, 2023 | |||||||
Principal | [63] | $ 475,000 | |||||||
Annual interest rate | [63] | 15% | |||||||
Promissory Note Payable Forty [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [64] | Oct. 13, 2022 | |||||||
Maturity date | [64] | Oct. 13, 2023 | |||||||
Principal | [64] | $ 350,000 | |||||||
Annual interest rate | [64] | 15% | |||||||
Promissory Note Payable Forty One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Oct. 28, 2022 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
Promissory Note Payable Forty Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Nov. 09, 2022 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
Promissory Note Payable Forty Three [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Nov. 10, 2022 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
Promissory Note Payable Forty Four [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Nov. 15, 2022 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
Promissory Note Payable Forty Five [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Jan. 11, 2023 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
Promissory Note Payable Forty Six [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Date of issuance | [65] | Feb. 06, 2023 | |||||||
Maturity date | [65] | Oct. 31, 2026 | |||||||
Principal | [65] | $ 400,000 | |||||||
Annual interest rate | [65] | 15% | |||||||
[1]In default[2]This note was transferred from convertible notes payable because in August 2022 it was no longer convertible due to restrictions placed on the lender.[3]In default. Default interest rate 22% 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same. 1,661,953 342,138 2,004,091 62,979 4,562 48,000 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 100,000 300,000 2,754,338 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same 78,432 33% 25,882 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 7,850 33 2,590 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 86,567 33 28,567 350,000 35,000 50,000,000 0.025 3 271,250 271,250 12,878 105,538 31,106 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same 79,104 33 26,104 9,200 6,944 16,144 25,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same 12,000 3,000 79,500 28,925 108,425 145,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same 11,000 2,450 550,000 250,000 50,000,000 0.025 3 380,174 380,174 16,718 129,906 50,493 On November 28, 2023, the parties extended the maturity date from January 14, 2024 to March 1, 2025 with all other terms and conditions remaining the same 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 50,000,000 .0164 3 950,000 82,499 462,320 426,061 On November 28, 2023, the parties extended the maturity date from February 22, 2024 to March 1, 2025 with all other terms and conditions remaining the same 13,000 3,850 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 150,000,000 .0164 3 2,850,000 43,500 8,000 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 85,000,000 .0164 3 1,615,000 199,482 530,181 264,037 85,000 15,000 4,000,160 184 27,000 81,000 62,000 12,000 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 146,393 348,667 865,764 31,000 6,000 170,000 20,000 0 9,026 0 On November 29, 2023, the parties extended the maturity date from July 28, 2023 to March 1, 2025 with all other terms and conditions remaining the same 50,000 10,000 955,000,000 3,000,000 15 2,960,500 39,500 4,923 14,216 16,552 42,000 7,000 400,000 50,000 0 27,821 0 On November 29, 2023, the parties extended the maturity date from September 7, 2023 to March 1, 2025 with all other terms and conditions remaining the same 300,000 50,000 475,000 75,000 0 36,729 0 On November 29, 2023, the parties extended the maturity date from September 8, 2023 to March 1, 2025 with all other terms and conditions remaining the same 150,000 2,000 8,500 350,000 50,000 13,295 25,585 0 On November 29, 2023, the parties extended the maturity date from October 13, 2023 to March 1, 2025 with all other terms and conditions remaining the same 110,000 10,000 70,000,000 0.00165 3 41,176 41,176 4,000,000 500,000 329 400,000 350,000 50,000 61 65,000 4,060 300,000 25,000 230,000,000 0.00165 3 125,814 125,814 82,500 7,500 100,000,000 0.002 3 54,545 54,545 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 350,000 35,000 50,000,000 0.025 3 271,250 271,250 83,338 193,515 9,200 6,944 16,144 25,000 79,500 28,925 108,425 145,000 350,000 thirteen future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 35 15 550,000 250,000 50,000,000 0.025 3 380,174 380,174 127,897 239,336 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 2,995,719 1,112,261 50,000,000 .0164 3 950,000 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 0 0 150,000,000 .0164 3 2,850,000 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 455,527 794,218 85,000,000 .0164 3 1,615,000 4,000,160 184 115,800 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 188,002 1,214,431 170,000 20,000 10,974 9,026 955,000,000 3,000,000 15% 2,960,500 39,500 8,632 30,868 400,000 50,000 22,179 27,821 475,000 75,000 38,271 32,909 350,000 50,000 17,091 46,407 4,000,000 500,000 329 400,000 350,000 50,000 61 |
SCHEDULE OF LOANS PAYABLE (De_2
SCHEDULE OF LOANS PAYABLE (Details) (Parenthetical) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Nov. 30, 2023 | Nov. 29, 2023 | Nov. 28, 2023 | Oct. 28, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | Oct. 27, 2023 | May 11, 2023 | Apr. 20, 2023 | Apr. 05, 2023 | Feb. 06, 2023 | Jan. 11, 2023 | Nov. 15, 2022 | Nov. 10, 2022 | Nov. 09, 2022 | Aug. 30, 2022 | Aug. 09, 2022 | Aug. 24, 2021 | Feb. 29, 2020 | Dec. 30, 2019 | Jul. 18, 2016 | ||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 3,500 | |||||||||||||||||||||||||||||
Accrued interest | $ 4,774,660 | $ 4,774,660 | $ 4,774,660 | 3,060,656 | [1] | 1,816,009 | ||||||||||||||||||||||||
Conversion of convertible securities | 898,705 | |||||||||||||||||||||||||||||
Purchase of warrants | 47,000,000 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | 32,473,346 | 32,473,346 | 32,473,346 | 31,254,346 | $ 50,000 | $ 100,000 | ||||||||||||||||||||||||
Original issue discount | ||||||||||||||||||||||||||||||
Amortization of debt expense | 1,755,897 | $ 1,094,388 | 1,980,033 | 7,597,242 | ||||||||||||||||||||||||||
Interest expenses | 1,581,533 | $ 1,271,158 | 4,940,965 | $ 3,448,208 | $ 5,426,364 | 16,129,499 | ||||||||||||||||||||||||
Warrants outstanding | 2,960,500 | |||||||||||||||||||||||||||||
Debt interest rate | 22% | |||||||||||||||||||||||||||||
Loans payable | 32,473,345 | 32,473,345 | 32,473,345 | $ 31,254,345 | $ 26,233,598 | $ 3,500 | ||||||||||||||||||||||||
Discount rate | 22% | |||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 329 | |||||||||||||||||||||||||||||
Promissory Note Payable Two [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | 2,683,357 | 2,683,357 | 2,683,357 | |||||||||||||||||||||||||||
Accrued interest | 1,237,811 | 1,237,811 | 1,237,811 | |||||||||||||||||||||||||||
Conversion of convertible securities | 3,921,168 | |||||||||||||||||||||||||||||
Notes payable | $ 3,921,168 | $ 3,921,168 | $ 3,921,168 | 48,000 | ||||||||||||||||||||||||||
Purchase of warrants | 450,000,000 | 450,000,000 | 450,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.002 | $ 0.002 | $ 0.002 | |||||||||||||||||||||||||||
Fair value | $ 990,000 | $ 990,000 | $ 990,000 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same. | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 3,921,168 | [2] | $ 3,921,168 | [2] | $ 3,921,168 | [2] | [3],[4] | |||||||||||||||||||||||
Debt interest rate | 12% | [2] | 12% | [2] | 12% | [2] | 25% | [3],[4] | ||||||||||||||||||||||
Debt periodic payments | $ 4,562 | |||||||||||||||||||||||||||||
Promissory Note Payable Three [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 1,460,794 | $ 1,460,794 | $ 1,460,794 | |||||||||||||||||||||||||||
Accrued interest | 1,593,544 | 1,593,544 | 1,593,544 | |||||||||||||||||||||||||||
Conversion of convertible securities | 3,054,338 | |||||||||||||||||||||||||||||
Notes payable | $ 3,054,338 | $ 3,054,338 | $ 3,054,338 | |||||||||||||||||||||||||||
Purchase of warrants | 250,000,000 | 250,000,000 | 250,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.002 | $ 0.002 | $ 0.002 | |||||||||||||||||||||||||||
Fair value | $ 550,000 | $ 550,000 | $ 550,000 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Total payments | 100,000 | 300,000 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 2,754,338 | [5] | $ 2,754,338 | [5] | $ 2,754,338 | [5] | [3],[6] | |||||||||||||||||||||||
Prepaid expense | 78,432 | |||||||||||||||||||||||||||||
Original issue discount | $ 25,882 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [5] | 12% | [5] | 12% | [5] | 15% | [3],[6] | ||||||||||||||||||||||
Discount rate | 33% | |||||||||||||||||||||||||||||
Promissory Note Payable Four [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 103,180 | $ 103,180 | $ 103,180 | |||||||||||||||||||||||||||
Accrued interest | 62,425 | 62,425 | 62,425 | |||||||||||||||||||||||||||
Conversion of convertible securities | 165,605 | |||||||||||||||||||||||||||||
Notes payable | $ 165,605 | $ 165,605 | $ 165,605 | |||||||||||||||||||||||||||
Purchase of warrants | 80,000,000 | 80,000,000 | 80,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.002 | $ 0.002 | $ 0.002 | |||||||||||||||||||||||||||
Fair value | $ 176,000 | $ 176,000 | $ 176,000 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 165,605 | [7] | $ 165,605 | [7] | $ 165,605 | [7] | [3],[8] | |||||||||||||||||||||||
Prepaid expense | 7,850 | |||||||||||||||||||||||||||||
Original issue discount | $ 2,590 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [7] | 12% | [7] | 12% | [7] | 15% | [3],[8] | ||||||||||||||||||||||
Discount rate | 33% | |||||||||||||||||||||||||||||
Promissory Note Payable Five [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 235,000 | $ 235,000 | $ 235,000 | |||||||||||||||||||||||||||
Accrued interest | 75,375 | 75,375 | 75,375 | |||||||||||||||||||||||||||
Conversion of convertible securities | 310,375 | |||||||||||||||||||||||||||||
Notes payable | $ 310,375 | $ 310,375 | $ 310,375 | |||||||||||||||||||||||||||
Purchase of warrants | 25,000,000 | 25,000,000 | 25,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.002 | $ 0.002 | $ 0.002 | |||||||||||||||||||||||||||
Fair value | $ 182,500 | $ 182,500 | $ 182,500 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 310,375 | [9] | $ 310,375 | [9] | $ 310,375 | [9] | [3],[10] | |||||||||||||||||||||||
Prepaid expense | 86,567 | |||||||||||||||||||||||||||||
Original issue discount | $ 28,567 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [9] | 12% | [9] | 12% | [9] | 15% | [3],[10] | ||||||||||||||||||||||
Discount rate | 33% | |||||||||||||||||||||||||||||
Promissory Note Payable Six [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 50,000,000 | 50,000,000 | 50,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.025 | $ 0.025 | $ 0.025 | |||||||||||||||||||||||||||
Fair value | $ 271,250 | $ 271,250 | $ 271,250 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | 350,000 | [11] | 350,000 | [11] | 350,000 | [11] | [3],[12] | |||||||||||||||||||||||
Prepaid expense | 350,000 | 350,000 | 350,000 | 79,104 | ||||||||||||||||||||||||||
Original issue discount | 35,000 | 35,000 | 35,000 | $ 26,104 | ||||||||||||||||||||||||||
Debt discount | 271,250 | 271,250 | 271,250 | |||||||||||||||||||||||||||
Amortization of debt expense | 12,878 | 105,538 | ||||||||||||||||||||||||||||
Unamortized discount | $ 31,106 | $ 31,106 | $ 31,106 | |||||||||||||||||||||||||||
Debt interest rate | 12% | [11] | 12% | [11] | 12% | [11] | 15% | [3],[12] | ||||||||||||||||||||||
Discount rate | 33% | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Seven [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 50,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.025 | |||||||||||||||||||||||||||||
Fair value | $ 271,250 | $ 302,219 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | 350,000 | [14] | ||||||||||||||||||||||
Prepaid expense | 350,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 35,000 | 50,000 | ||||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | 3 years | ||||||||||||||||||||||||||
Debt discount | $ 271,250 | |||||||||||||||||||||||||||||
Amortization of debt expense | $ 2,723 | $ 4,930 | 83,338 | |||||||||||||||||||||||||||
Unamortized discount | $ 347,290 | $ 347,290 | $ 347,290 | $ 193,515 | ||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [14] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Seven [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Seven [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 9,200 | $ 9,200 | $ 9,200 | |||||||||||||||||||||||||||
Accrued interest | 6,944 | 6,944 | 6,944 | |||||||||||||||||||||||||||
Conversion of convertible securities | 16,144 | |||||||||||||||||||||||||||||
Notes payable | 25,000 | 25,000 | 25,000 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 25,000 | [15] | $ 25,000 | [15] | $ 25,000 | [15] | [3],[16] | |||||||||||||||||||||||
Prepaid expense | 12,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 3,000 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [15] | 12% | [15] | 12% | [15] | 15% | [3],[16] | ||||||||||||||||||||||
Promissory Note Payable Eight [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 79,500 | $ 79,500 | $ 79,500 | |||||||||||||||||||||||||||
Accrued interest | 28,925 | 28,925 | 28,925 | |||||||||||||||||||||||||||
Conversion of convertible securities | 108,425 | |||||||||||||||||||||||||||||
Notes payable | 145,000 | 145,000 | 145,000 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 145,000 | [17] | $ 145,000 | [17] | $ 145,000 | [17] | [3],[18] | |||||||||||||||||||||||
Prepaid expense | 11,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 2,450 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [17] | 12% | [17] | 12% | [17] | 15% | [3],[18] | ||||||||||||||||||||||
Promissory Note Payable Nine [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 50,000,000 | 50,000,000 | 50,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.025 | $ 0.025 | $ 0.025 | |||||||||||||||||||||||||||
Fair value | $ 380,174 | $ 380,174 | $ 380,174 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from January 14, 2024 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | 550,000 | [19] | 550,000 | [19] | 550,000 | [19] | [3] | |||||||||||||||||||||||
Prepaid expense | 550,000 | 550,000 | 550,000 | 5,000 | ||||||||||||||||||||||||||
Original issue discount | $ 250,000 | $ 250,000 | $ 250,000 | $ 1,200 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | |||||||||||||||||||||||||||
Debt discount | $ 380,174 | $ 380,174 | $ 380,174 | |||||||||||||||||||||||||||
Amortization of debt expense | 16,718 | 129,906 | ||||||||||||||||||||||||||||
Unamortized discount | $ 50,493 | $ 50,493 | $ 50,493 | |||||||||||||||||||||||||||
Debt interest rate | 12% | [19] | 12% | [19] | 12% | [19] | 15% | [3] | ||||||||||||||||||||||
Promissory Note Payable Ten [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 100,000,000 | 100,000,000 | 100,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.135 | $ 0.135 | $ 0.135 | |||||||||||||||||||||||||||
Fair value | $ 1,342,857 | $ 1,342,857 | $ 1,342,857 | |||||||||||||||||||||||||||
Debt instrument maturity date description | On November 28, 2023, the parties extended the maturity date from February 22, 2024 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | 1,650,000 | [20] | 1,650,000 | [20] | 1,650,000 | [20] | [3],[21] | |||||||||||||||||||||||
Prepaid expense | 1,650,000 | 1,650,000 | 1,650,000 | 13,000 | ||||||||||||||||||||||||||
Original issue discount | $ 150,000 | $ 150,000 | $ 150,000 | $ 3,850 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | |||||||||||||||||||||||||||
Debt discount | $ 1,342,857 | $ 1,342,857 | $ 1,342,857 | |||||||||||||||||||||||||||
Amortization of debt expense | 82,499 | 462,320 | ||||||||||||||||||||||||||||
Unamortized discount | $ 426,061 | $ 426,061 | $ 426,061 | |||||||||||||||||||||||||||
Interest expenses | $ 950,000 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [20] | 12% | [20] | 12% | [20] | 15% | [3],[21] | ||||||||||||||||||||||
Promissory Note Payable Thirty One [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 100,000,000 | 50,000,000 | ||||||||||||||||||||||||||||
Exercise price | $ 0.135 | $ 0.0164 | ||||||||||||||||||||||||||||
Fair value | $ 1,342,857 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [22] | 1,650,000 | ||||||||||||||||||||||||||||
Prepaid expense | 1,650,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 150,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | ||||||||||||||||||||||||||||
Debt discount | $ 1,342,857 | |||||||||||||||||||||||||||||
Amortization of debt expense | 2,995,719 | |||||||||||||||||||||||||||||
Unamortized discount | $ 1,112,261 | |||||||||||||||||||||||||||||
Interest expenses | $ 950,000 | |||||||||||||||||||||||||||||
Debt interest rate | [22] | 12% | ||||||||||||||||||||||||||||
Promissory Note Payable Eleven [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 6,000,000 | $ 6,000,000 | $ 6,000,000 | |||||||||||||||||||||||||||
Purchase of warrants | 300,000,000 | 300,000,000 | 300,000,000 | 150,000,000 | ||||||||||||||||||||||||||
Exercise price | $ 0.135 | $ 0.135 | $ 0.135 | $ 0.0164 | ||||||||||||||||||||||||||
Fair value | $ 4,749,005 | $ 4,749,005 | $ 4,749,005 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | 6,000,000 | [23] | 6,000,000 | [23] | 6,000,000 | [23] | [3],[24] | |||||||||||||||||||||||
Prepaid expense | 43,500 | |||||||||||||||||||||||||||||
Original issue discount | $ 600,000 | $ 600,000 | $ 600,000 | $ 8,000 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | 3 years | ||||||||||||||||||||||||||
Debt discount | $ 4,749,005 | $ 4,749,005 | $ 4,749,005 | |||||||||||||||||||||||||||
Interest expenses | $ 2,850,000 | |||||||||||||||||||||||||||||
Cash proceeds | $ 5,400,000 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [23] | 12% | [23] | 12% | [23] | 15% | [3],[24] | ||||||||||||||||||||||
Promissory Note Payable Twelve [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 170,000,000 | 170,000,000 | 170,000,000 | 85,000,000 | ||||||||||||||||||||||||||
Exercise price | $ 0.064 | $ 0.064 | $ 0.064 | $ 0.0164 | ||||||||||||||||||||||||||
Fair value | $ 2,035,033 | $ 2,035,033 | $ 2,035,033 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | 2,750,000 | [25] | 2,750,000 | [25] | 2,750,000 | [25] | [3],[26] | |||||||||||||||||||||||
Prepaid expense | 85,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 50,000 | $ 50,000 | $ 50,000 | $ 15,000 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | 3 years | ||||||||||||||||||||||||||
Debt discount | $ 2,035,033 | $ 2,035,033 | $ 2,035,033 | |||||||||||||||||||||||||||
Amortization of debt expense | 199,482 | 530,181 | ||||||||||||||||||||||||||||
Unamortized discount | $ 264,037 | $ 264,037 | 264,037 | |||||||||||||||||||||||||||
Interest expenses | $ 1,615,000 | |||||||||||||||||||||||||||||
Cash proceeds | $ 2,750,000 | |||||||||||||||||||||||||||||
Debt interest rate | 12% | [25] | 12% | [25] | 12% | [25] | 15% | [3],[26] | ||||||||||||||||||||||
Promissory Note Payable Thirteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 3,803,360 | [27] | $ 3,803,360 | [27] | $ 3,803,360 | [27] | [3],[28] | |||||||||||||||||||||||
Prepaid expense | $ 4,000,160 | 4,000,160 | 4,000,160 | 62,000 | ||||||||||||||||||||||||||
Original issue discount | $ 12,000 | |||||||||||||||||||||||||||||
Repayment of notes | $ 27,000 | $ 81,000 | ||||||||||||||||||||||||||||
Debt interest rate | 7% | [27] | 7% | [27] | 7% | [27] | 15% | [3],[28] | ||||||||||||||||||||||
Promissory Note Payable Thirteen [Member] | Director [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Conversion of convertible securities, shares | 184 | |||||||||||||||||||||||||||||
Promissory Note Payable Fourteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 250,000,000 | 250,000,000 | 250,000,000 | |||||||||||||||||||||||||||
Exercise price | $ 0.037 | $ 0.037 | $ 0.037 | |||||||||||||||||||||||||||
Fair value | $ 1,284,783 | $ 1,284,783 | $ 1,284,783 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | 1,650,000 | [29] | 1,650,000 | [29] | 1,650,000 | [29] | [3],[30] | |||||||||||||||||||||||
Prepaid expense | 1,650,000 | 1,650,000 | 1,650,000 | 31,000 | ||||||||||||||||||||||||||
Original issue discount | $ 150,000 | $ 150,000 | $ 150,000 | $ 6,000 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | 3 years | |||||||||||||||||||||||||||
Debt discount | $ 1,284,783 | $ 1,284,783 | $ 1,284,783 | |||||||||||||||||||||||||||
Amortization of debt expense | 146,393 | 348,667 | ||||||||||||||||||||||||||||
Unamortized discount | $ 865,764 | $ 865,764 | $ 865,764 | |||||||||||||||||||||||||||
Debt interest rate | 12% | [29] | 12% | [29] | 12% | [29] | 15% | [3],[30] | ||||||||||||||||||||||
Promissory Note Payable Fifteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Debt instrument maturity date description | On November 29, 2023, the parties extended the maturity date from July 28, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 170,000 | [31] | $ 170,000 | [31] | $ 170,000 | [31] | [3],[32] | |||||||||||||||||||||||
Prepaid expense | 170,000 | 170,000 | 170,000 | 50,000 | ||||||||||||||||||||||||||
Original issue discount | 0 | 0 | 0 | $ 10,000 | ||||||||||||||||||||||||||
Amortization of debt expense | 0 | 9,026 | ||||||||||||||||||||||||||||
Unamortized discount | $ 20,000 | $ 20,000 | $ 20,000 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [31] | 15% | [31] | 15% | [31] | 15% | [3],[32] | ||||||||||||||||||||||
Promissory Note Payable Sixteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 3,000,000 | $ 3,000,000 | $ 3,000,000 | |||||||||||||||||||||||||||
Fair value | 2,960,500 | 2,960,500 | 2,960,500 | |||||||||||||||||||||||||||
Vehicle loan secured by automobile | 3,000,000 | [33] | 3,000,000 | [33] | 3,000,000 | [33] | [3],[34] | |||||||||||||||||||||||
Prepaid expense | 42,000 | |||||||||||||||||||||||||||||
Original issue discount | 16,552 | 16,552 | 16,552 | $ 7,000 | ||||||||||||||||||||||||||
Debt discount | $ 39,500 | 39,500 | 39,500 | |||||||||||||||||||||||||||
Amortization of debt expense | $ 4,923 | $ 14,216 | ||||||||||||||||||||||||||||
Warrants outstanding | 955,000,000 | 955,000,000 | 955,000,000 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [33] | 15% | [33] | 15% | [33] | 15% | [3],[34] | ||||||||||||||||||||||
Promissory Note Payable Seventeen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Debt instrument maturity date description | On November 29, 2023, the parties extended the maturity date from September 7, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [35] | $ 400,000 | [35] | $ 400,000 | [35] | [3],[36] | |||||||||||||||||||||||
Prepaid expense | 400,000 | 400,000 | 400,000 | 300,000 | ||||||||||||||||||||||||||
Original issue discount | 0 | 0 | 0 | $ 50,000 | ||||||||||||||||||||||||||
Amortization of debt expense | 0 | 27,821 | ||||||||||||||||||||||||||||
Unamortized discount | $ 50,000 | $ 50,000 | $ 50,000 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [35] | 15% | [35] | 15% | [35] | 10% | [3],[36] | ||||||||||||||||||||||
Promissory Note Payable Eighteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Debt instrument maturity date description | On November 29, 2023, the parties extended the maturity date from September 8, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 475,000 | [37] | $ 475,000 | [37] | $ 475,000 | [37] | [3],[38] | |||||||||||||||||||||||
Prepaid expense | 475,000 | 475,000 | 475,000 | |||||||||||||||||||||||||||
Original issue discount | 0 | 0 | 0 | |||||||||||||||||||||||||||
Amortization of debt expense | 0 | 36,729 | ||||||||||||||||||||||||||||
Unamortized discount | $ 75,000 | $ 75,000 | $ 75,000 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [37] | 15% | [37] | 15% | [37] | 12% | [3],[38] | ||||||||||||||||||||||
Interest repayable | $ 150,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Eighteen [Member] | First 6 Months [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Debt periodic payments | 2,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Eighteen [Member] | Next 22 Months [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Debt periodic payments | $ 8,500 | |||||||||||||||||||||||||||||
Promissory Note Payable Nineteen [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 70,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.00165 | |||||||||||||||||||||||||||||
Fair value | $ 41,176 | |||||||||||||||||||||||||||||
Debt instrument maturity date description | On November 29, 2023, the parties extended the maturity date from October 13, 2023 to March 1, 2025 with all other terms and conditions remaining the same | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 350,000 | [39] | $ 350,000 | [39] | $ 350,000 | [39] | [3],[40] | |||||||||||||||||||||||
Prepaid expense | 350,000 | 350,000 | 350,000 | 110,000 | ||||||||||||||||||||||||||
Original issue discount | 0 | 0 | 0 | $ 10,000 | ||||||||||||||||||||||||||
WarrantsTerm | 3 years | |||||||||||||||||||||||||||||
Debt discount | $ 41,176 | |||||||||||||||||||||||||||||
Amortization of debt expense | 13,295 | 25,585 | ||||||||||||||||||||||||||||
Unamortized discount | $ 50,000 | $ 50,000 | $ 50,000 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [39] | 15% | [39] | 15% | [39] | 12% | [3],[40] | ||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 400,000 | |||||||||||||||||||||||||||||
Fair value | 299,399 | $ 299,750 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | [3],[41] | |||||||||||||||||||||||
Original issue discount | 50,000 | 50,000 | ||||||||||||||||||||||||||||
Amortization of debt expense | 3,274 | 7,613 | ||||||||||||||||||||||||||||
Unamortized discount | $ 340,411 | 500,000 | $ 340,411 | $ 340,411 | ||||||||||||||||||||||||||
Cash proceeds | 350,000 | |||||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 15.50% | [3],[41] | ||||||||||||||||||||||
Loans payable | $ 400,000 | $ 400,000 | ||||||||||||||||||||||||||||
Debt periodic payments | $ 4,060 | |||||||||||||||||||||||||||||
Interest repayable | $ 65,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | Series F Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 329 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | Series F Warrants [Member] | October 31, 2033 [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | 61 | ||||||||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | Series F Preferred Shares [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Conversion of convertible securities, shares | 1 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty [Member] | Lender [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Loans payable | $ 4,000,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty One [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 230,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.00165 | |||||||||||||||||||||||||||||
Fair value | $ 125,814 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | [3],[42] | |||||||||||||||||||||||
Prepaid expense | 300,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 25,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | |||||||||||||||||||||||||||||
Debt discount | $ 125,814 | |||||||||||||||||||||||||||||
Amortization of debt expense | 3,234 | 7,510 | ||||||||||||||||||||||||||||
Unamortized discount | $ 340,929 | $ 340,929 | $ 340,929 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 15% | [3],[42] | ||||||||||||||||||||||
Promissory Note Payable Twenty Two [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 100,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.002 | |||||||||||||||||||||||||||||
Fair value | $ 54,545 | $ 302,020 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | [3],[43] | |||||||||||||||||||||||
Prepaid expense | 82,500 | |||||||||||||||||||||||||||||
Original issue discount | $ 7,500 | 50,000 | ||||||||||||||||||||||||||||
WarrantsTerm | 3 years | |||||||||||||||||||||||||||||
Debt discount | $ 54,545 | |||||||||||||||||||||||||||||
Amortization of debt expense | 2,991 | 6,891 | ||||||||||||||||||||||||||||
Unamortized discount | $ 343,990 | $ 343,990 | $ 343,990 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [3],[43] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Two [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Three [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 2,683,357 | |||||||||||||||||||||||||||||
Accrued interest | 1,237,811 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 3,921,168 | |||||||||||||||||||||||||||||
Notes payable | $ 3,921,168 | |||||||||||||||||||||||||||||
Purchase of warrants | 450,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.002 | |||||||||||||||||||||||||||||
Fair value | $ 990,000 | $ 299,959 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 3,921,168 | [44] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 3,295 | 7,665 | ||||||||||||||||||||||||||||
Unamortized discount | $ 340,151 | $ 340,151 | $ 340,151 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [44] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Three [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Four [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 1,460,794 | |||||||||||||||||||||||||||||
Accrued interest | 1,593,544 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 3,054,338 | |||||||||||||||||||||||||||||
Notes payable | $ 3,054,338 | |||||||||||||||||||||||||||||
Purchase of warrants | 250,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.002 | |||||||||||||||||||||||||||||
Fair value | $ 550,000 | $ 299,959 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 3,054,338 | [45] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 3,355 | 7,821 | ||||||||||||||||||||||||||||
Unamortized discount | $ 339,368 | $ 339,368 | $ 339,368 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [45] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Four [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Five [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 103,180 | |||||||||||||||||||||||||||||
Accrued interest | 62,425 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 165,605 | |||||||||||||||||||||||||||||
Notes payable | $ 165,605 | |||||||||||||||||||||||||||||
Purchase of warrants | 80,000,000 | |||||||||||||||||||||||||||||
Fair value | $ 176,000 | $ 299,959 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 165,605 | [46] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 3,231 | 7,503 | ||||||||||||||||||||||||||||
Unamortized discount | $ 340,923 | $ 340,923 | $ 340,923 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [46] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Five [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Six [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 235,000 | |||||||||||||||||||||||||||||
Accrued interest | 75,375 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 310,375 | |||||||||||||||||||||||||||||
Notes payable | $ 310,375 | |||||||||||||||||||||||||||||
Purchase of warrants | 25,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.002 | |||||||||||||||||||||||||||||
Fair value | $ 182,500 | $ 296,245 | ||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 310,375 | [47] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 3,335 | 6,608 | ||||||||||||||||||||||||||||
Unamortized discount | $ 339,637 | $ 339,637 | $ 339,637 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [47] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Six [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Eight [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 9,200 | |||||||||||||||||||||||||||||
Accrued interest | 6,944 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 16,144 | |||||||||||||||||||||||||||||
Notes payable | 25,000 | |||||||||||||||||||||||||||||
Fair value | $ 348,983 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 25,000 | [48] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 0 | 0 | ||||||||||||||||||||||||||||
Unamortized discount | $ 398,983 | $ 398,983 | $ 398,983 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [48] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Eight [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Nine [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Convertible notes payable | $ 79,500 | |||||||||||||||||||||||||||||
Accrued interest | 28,925 | |||||||||||||||||||||||||||||
Conversion of convertible securities | 108,425 | |||||||||||||||||||||||||||||
Notes payable | 145,000 | |||||||||||||||||||||||||||||
Fair value | $ 261,759 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | $ 400,000 | [13] | $ 400,000 | [13] | $ 400,000 | [13] | $ 145,000 | [49] | ||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 2,044 | 2,044 | ||||||||||||||||||||||||||||
Unamortized discount | $ 309,715 | $ 309,715 | $ 309,715 | |||||||||||||||||||||||||||
Debt interest rate | 15% | [13] | 15% | [13] | 15% | [13] | 12% | [49] | ||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Twenty Nine [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Thirty [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 50,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.025 | |||||||||||||||||||||||||||||
Fair value | $ 380,174 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [50],[51] | [50],[51] | [50],[51] | 550,000 | [52] | |||||||||||||||||||||||||
Prepaid expense | 550,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 250,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | |||||||||||||||||||||||||||||
Debt discount | $ 380,174 | |||||||||||||||||||||||||||||
Amortization of debt expense | 127,897 | |||||||||||||||||||||||||||||
Unamortized discount | $ 239,336 | |||||||||||||||||||||||||||||
Debt interest rate | 35% | [50],[51] | 35% | [50],[51] | 35% | [50],[51] | 12% | [52] | ||||||||||||||||||||||
Promissory Note Payable Thirty [Member] | Lender [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Total payments | $ 477,750 | |||||||||||||||||||||||||||||
Debt interest rate | 35% | 35% | 35% | |||||||||||||||||||||||||||
Loans payable | $ 350,000 | $ 350,000 | $ 350,000 | |||||||||||||||||||||||||||
Monthly payments | thirteen future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $477,750 | |||||||||||||||||||||||||||||
Promissory Note Payable [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Accrued interest | $ 342,138 | |||||||||||||||||||||||||||||
Notes payable | 2,004,091 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | 1,661,953 | |||||||||||||||||||||||||||||
Accrued liability | $ 62,979 | |||||||||||||||||||||||||||||
Promissory Note Payable Thirty Two [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 170,000,000 | 85,000,000 | ||||||||||||||||||||||||||||
Exercise price | $ 0.064 | $ 0.0164 | ||||||||||||||||||||||||||||
Fair value | $ 2,035,033 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [53] | 6,000,000 | ||||||||||||||||||||||||||||
Prepaid expense | 2,750,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 50,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | ||||||||||||||||||||||||||||
Debt discount | $ 2,035,033 | |||||||||||||||||||||||||||||
Amortization of debt expense | 455,527 | |||||||||||||||||||||||||||||
Unamortized discount | $ 794,218 | |||||||||||||||||||||||||||||
Interest expenses | $ 1,615,000 | |||||||||||||||||||||||||||||
Debt interest rate | [53] | 12% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Two [Member] | Unsecured Debt [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 6,000,000 | |||||||||||||||||||||||||||||
Purchase of warrants | 300,000,000 | 150,000,000 | ||||||||||||||||||||||||||||
Exercise price | $ 0.135 | $ 0.0164 | ||||||||||||||||||||||||||||
Fair value | $ 4,749,005 | |||||||||||||||||||||||||||||
Original issue discount | $ 600,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | 3 years | ||||||||||||||||||||||||||||
Debt discount | $ 4,749,005 | |||||||||||||||||||||||||||||
Amortization of debt expense | 0 | |||||||||||||||||||||||||||||
Unamortized discount | 0 | |||||||||||||||||||||||||||||
Cash proceeds | 5,400,000 | |||||||||||||||||||||||||||||
Fair value of warrants | $ 2,850,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Thirty Three [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [54] | 2,750,000 | ||||||||||||||||||||||||||||
Prepaid expense | 4,000,160 | |||||||||||||||||||||||||||||
Repayment of notes | $ 115,800 | |||||||||||||||||||||||||||||
Debt interest rate | [54] | 12% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Three [Member] | Director [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Conversion of convertible securities, shares | 184 | |||||||||||||||||||||||||||||
Promissory Note Payable Thirty Four [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 250,000,000 | |||||||||||||||||||||||||||||
Exercise price | $ 0.037 | |||||||||||||||||||||||||||||
Fair value | $ 1,284,783 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [55] | 3,884,360 | ||||||||||||||||||||||||||||
Prepaid expense | 1,650,000 | |||||||||||||||||||||||||||||
Original issue discount | $ 150,000 | |||||||||||||||||||||||||||||
WarrantsTerm | 3 years | |||||||||||||||||||||||||||||
Debt discount | $ 1,284,783 | |||||||||||||||||||||||||||||
Amortization of debt expense | 188,002 | |||||||||||||||||||||||||||||
Unamortized discount | $ 1,214,431 | |||||||||||||||||||||||||||||
Debt interest rate | [55] | 7% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Six [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [56] | $ 170,000 | ||||||||||||||||||||||||||||
Prepaid expense | 170,000 | |||||||||||||||||||||||||||||
Original issue discount | 20,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 10,974 | |||||||||||||||||||||||||||||
Unamortized discount | $ 9,026 | |||||||||||||||||||||||||||||
Debt interest rate | [56] | 15% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Seven [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [57] | $ 3,000,000 | ||||||||||||||||||||||||||||
Prepaid expense | 400,000 | |||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 22,179 | |||||||||||||||||||||||||||||
Unamortized discount | $ 27,821 | |||||||||||||||||||||||||||||
Debt interest rate | [57] | 15% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Eight [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 3,000,000 | |||||||||||||||||||||||||||||
Fair value | 2,960,500 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [58] | 400,000 | ||||||||||||||||||||||||||||
Debt discount | 39,500 | |||||||||||||||||||||||||||||
Amortization of debt expense | 8,632 | |||||||||||||||||||||||||||||
Unamortized discount | $ 30,868 | |||||||||||||||||||||||||||||
Warrants outstanding | 955,000,000 | |||||||||||||||||||||||||||||
Debt interest rate | [58] | 15% | ||||||||||||||||||||||||||||
Promissory Note Payable Thirty Nine [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [59] | $ 475,000 | ||||||||||||||||||||||||||||
Prepaid expense | 475,000 | |||||||||||||||||||||||||||||
Original issue discount | 75,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 38,271 | |||||||||||||||||||||||||||||
Unamortized discount | $ 32,909 | |||||||||||||||||||||||||||||
Debt interest rate | [59] | 15% | ||||||||||||||||||||||||||||
Promissory Note Payable Forty [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [60] | $ 350,000 | ||||||||||||||||||||||||||||
Prepaid expense | 350,000 | |||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 17,091 | |||||||||||||||||||||||||||||
Unamortized discount | $ 46,407 | |||||||||||||||||||||||||||||
Debt interest rate | [60] | 15% | ||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | 400,000 | |||||||||||||||||||||||||||||
Fair value | 299,399 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 1,375 | |||||||||||||||||||||||||||||
Unamortized discount | 500,000 | $ 348,024 | ||||||||||||||||||||||||||||
Cash proceeds | 350,000 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | Series F Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 329 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | Series F Warrants [Member] | October 31, 2033 [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | Series F Preferred Shares [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Conversion of convertible securities, shares | 1 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty One [Member] | Lender [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Loans payable | $ 4,000,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Two [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Fair value | $ 299,750 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 1,312 | |||||||||||||||||||||||||||||
Unamortized discount | $ 348,438 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Two [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Three [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Fair value | $ 302,020 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 1,139 | |||||||||||||||||||||||||||||
Unamortized discount | $ 350,881 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Three [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Four [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Fair value | $ 299,959 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 2,143 | |||||||||||||||||||||||||||||
Unamortized discount | $ 347,815 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Four [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Five [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Fair value | $ 299,959 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 802 | |||||||||||||||||||||||||||||
Unamortized discount | $ 347,189 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Five [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Six [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Fair value | $ 299,959 | |||||||||||||||||||||||||||||
Vehicle loan secured by automobile | [61] | $ 400,000 | ||||||||||||||||||||||||||||
Original issue discount | 50,000 | |||||||||||||||||||||||||||||
Amortization of debt expense | 100 | |||||||||||||||||||||||||||||
Unamortized discount | $ 348,426 | |||||||||||||||||||||||||||||
Debt interest rate | [61] | 15% | ||||||||||||||||||||||||||||
Loans payable | $ 400,000 | |||||||||||||||||||||||||||||
Promissory Note Payable Forty Six [Member] | Series F Preferred Share Warrants [Member] | ||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||
Purchase of warrants | 61 | |||||||||||||||||||||||||||||
[1]Derived from audited information[2]This promissory note was issued as part of a debt settlement whereby $ 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same. 1,661,953 342,138 2,004,091 62,979 4,562 48,000 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 100,000 300,000 2,754,338 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same 78,432 33% 25,882 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 7,850 33 2,590 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 86,567 33 28,567 350,000 35,000 50,000,000 0.025 3 271,250 271,250 12,878 105,538 31,106 On November 28, 2023, the parties extended the maturity date from December 10, 2023 to March 1, 2025 with all other terms and conditions remaining the same 79,104 33 26,104 4,000,000 500,000 329 400,000 350,000 50,000 61 350,000 35,000 50,000,000 0.025 3 271,250 271,250 83,338 193,515 9,200 6,944 16,144 25,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same 12,000 3,000 79,500 28,925 108,425 145,000 On November 28, 2023, the parties extended the maturity date from January 1, 2024 to March 1, 2025 with all other terms and conditions remaining the same 11,000 2,450 550,000 250,000 50,000,000 0.025 3 380,174 380,174 16,718 129,906 50,493 On November 28, 2023, the parties extended the maturity date from January 14, 2024 to March 1, 2025 with all other terms and conditions remaining the same 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 50,000,000 .0164 3 950,000 82,499 462,320 426,061 On November 28, 2023, the parties extended the maturity date from February 22, 2024 to March 1, 2025 with all other terms and conditions remaining the same 13,000 3,850 1,650,000 150,000 100,000,000 0.135 3 1,342,857 1,342,857 2,995,719 1,112,261 50,000,000 .0164 3 950,000 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 150,000,000 .0164 3 2,850,000 43,500 8,000 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 85,000,000 .0164 3 1,615,000 199,482 530,181 264,037 85,000 15,000 4,000,160 184 27,000 81,000 62,000 12,000 1,650,000 150,000 250,000,000 0.037 3 1,284,783 1,284,783 146,393 348,667 865,764 31,000 6,000 170,000 20,000 0 9,026 0 On November 29, 2023, the parties extended the maturity date from July 28, 2023 to March 1, 2025 with all other terms and conditions remaining the same 50,000 10,000 955,000,000 3,000,000 15 2,960,500 39,500 4,923 14,216 16,552 42,000 7,000 400,000 50,000 0 27,821 0 On November 29, 2023, the parties extended the maturity date from September 7, 2023 to March 1, 2025 with all other terms and conditions remaining the same 300,000 50,000 475,000 75,000 0 36,729 0 On November 29, 2023, the parties extended the maturity date from September 8, 2023 to March 1, 2025 with all other terms and conditions remaining the same 150,000 2,000 8,500 350,000 50,000 13,295 25,585 0 On November 29, 2023, the parties extended the maturity date from October 13, 2023 to March 1, 2025 with all other terms and conditions remaining the same 110,000 10,000 70,000,000 0.00165 3 41,176 41,176 65,000 4,060 300,000 25,000 230,000,000 0.00165 3 125,814 125,814 82,500 7,500 100,000,000 0.002 3 54,545 54,545 2,683,357 1,237,811 3,921,168 3,921,168 450,000,000 .002 990,000 1,460,794 1,593,544 3,054,338 3,054,338 250,000,000 .002 550,000 103,180 62,425 165,605 165,605 80,000,000 .002 176,000 235,000 75,375 310,375 310,375 25,000,000 .002 182,500 9,200 6,944 16,144 25,000 79,500 28,925 108,425 145,000 350,000 thirteen future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 35 15 550,000 250,000 50,000,000 0.025 3 380,174 380,174 127,897 239,336 5,400,000 6,000,000 600,000 300,000,000 0.135 3 4,749,005 4,749,005 0 0 150,000,000 .0164 3 2,850,000 2,750,000 50,000 170,000,000 0.064 3 2,035,033 2,035,033 455,527 794,218 85,000,000 .0164 3 1,615,000 4,000,160 184 115,800 170,000 20,000 10,974 9,026 955,000,000 3,000,000 15% 2,960,500 39,500 8,632 30,868 400,000 50,000 22,179 27,821 475,000 75,000 38,271 32,909 350,000 50,000 17,091 46,407 4,000,000 500,000 329 400,000 350,000 50,000 61 |
SUMMARY OF PREFERRED STOCK WARR
SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY (Details) - Series F Preferred Warrants [Member] - $ / shares | 9 Months Ended | 12 Months Ended | |
Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | |
Class of Stock [Line Items] | |||
Number of Series F Preferred Warrants, Outstanding Beginning balance | 695 | 329 | |
Weighted Average Exercise Price, Oustanding Beginng balance | $ 1 | $ 1 | |
Weighted Average Remaining Years, Outstanding | 10 years | 11 years 6 months | |
Number of Series F Preferred Warrants , Issued | 244 | 366 | |
Weighted Average Exercise Price, Issued | $ 1 | $ 1 | |
Weighted Average Remaining Years, Issued | 9 years 10 months 17 days | 10 years | |
Number of Series F Preferred Warrants, Exercised | |||
Weighted Average Exercise Price, Exercised | |||
Number of Series F Preferred Warrants, Forfeited and cancelled | |||
Weighted Average Exercise Price, Forfeited and cancelled | |||
Number of Series F Preferred Warrants, Outstanding Ending balance | 939 | 695 | 329 |
Weighted Average Exercise Price, Oustanding Ending balance | $ 1 | $ 1 | $ 1 |
Weighted Average Remaining Years, Outstanding | 9 years 6 months | 10 years |
SUMMARY OF COMMON SHARES ISSUED
SUMMARY OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING (Details) - shares | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Issued | 7,715,143,227 | 5,848,741,599 | 4,735,210,360 |
Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Issued | 7,715,143,227 | 5,836,641,599 | 4,733,110,360 |
Issuable | 12,100,000 | 2,100,000 | |
Issued, issuable and outstanding | 7,715,143,227 | 5,848,741,599 | 4,735,210,360 |
SUMMARY OF COMMON STOCK WARRANT
SUMMARY OF COMMON STOCK WARRANT ACTIVITY (Details) - Common Stock [Member] - Warrant [Member] - $ / shares | 9 Months Ended | |
Nov. 30, 2023 | Feb. 28, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Number of Series F Preferred Warrants, Outstanding Beginning balance | 314,217,451 | |
Weighted Average Exercise Price, Oustanding Beginng balance | $ 0.114 | |
Weighted Average Remaining Years, Outstanding, (in years) | 1 year 2 months 12 days | 1 year 11 months 12 days |
Number of Warrants, Issued | ||
Weighted Average Exercise Price, Issued | ||
Number of Warrants, Exercised | ||
Weighted Average Exercise Price, Exercised | ||
Number of Warrants, Forfeited and cancelled | ||
Weighted Average Exercise Price, Forfeited and cancelled | ||
Number of Series F Preferred Warrants, Outstanding Ending balance | 314,217,451 | |
Weighted Average Exercise Price, Oustanding Ending balance | $ 0.114 |
SUMMARY OF COMMON STOCK OPTION
SUMMARY OF COMMON STOCK OPTION ACTIVITY (Details) - Warrant [Member] - $ / shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
May 31, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Number of Warrants, Outstanding, Beginning Balance | 95,725,000 | 95,725,000 | ||
Weighted Average Exercise Price, Outstanding Beginning Balance | $ 0.02 | $ 0.02 | ||
Weighted Average Remaining Years, Outstanding, (in years) | 4 years | 4 years 9 months | 4 years 9 months | |
Number of Warrants, Issued | 100,000,000 | |||
Weighted Average Exercise Price, Issued | $ 0.02 | |||
Number of Warrants, Exercised | ||||
Weighted Average Exercise Price, Exercised | ||||
Number of Warrants, Forfeited, extinguished and cancelled | (21,275,000) | (4,275,000) | ||
Weighted Average Exercise Price, Forfeited, extinguished and cancelled | $ 0.02 | $ 0.02 | ||
Weighted Average Remaining Years, Forfeited, extinguished and cancelled (in years) | 4 years 7 months 6 days | 4 years 9 months | ||
Number of Warrants, Outstanding, Ending Balance | 74,450,000 | 95,725,000 | 95,725,000 | |
Weighted Average Exercise Price, Outstanding Ending Balance | $ 0.02 | $ 0.02 | $ 0.02 | |
Weighted Average Remaining Years, Issued (in years) | 4 years 9 months |
STOCKHOLDERS_ EQUITY (DEFICIT_2
STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 11 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Aug. 30, 2022 | Aug. 11, 2022 | Aug. 09, 2022 | Jul. 12, 2021 | Jan. 27, 2021 | Mar. 31, 2023 | Jun. 30, 2021 | Nov. 30, 2023 | Aug. 31, 2023 | May 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | May 31, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2023 | Feb. 23, 2023 | Feb. 28, 2022 | Feb. 23, 2022 | Aug. 30, 2023 | Aug. 29, 2023 | Mar. 19, 2023 | Mar. 18, 2023 | Oct. 28, 2022 | Jul. 08, 2022 | Jul. 07, 2022 | Aug. 24, 2021 | Apr. 14, 2021 | |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 0 | 0 | 0 | ||||||||||||||||||||||||||
Common stock shares authorized | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 | 10,000,000,000 | 7,225,000,000 | 10,000,000,000 | 7,225,000,000 | ||||||||||||||||||||||
Stock issued during period, value, issued for services | $ 3,244,740 | ||||||||||||||||||||||||||||
Gain on settlement of debt | $ 360,125 | $ 38,740 | $ 3,992 | $ 3,992 | $ (33,068,313) | ||||||||||||||||||||||||
Share based compensaction | $ 499,500 | $ 1,979,500 | |||||||||||||||||||||||||||
Preferred stock, shares authorized | 15,545,650 | 15,545,650 | 15,545,650 | 15,545,650 | 15,545,650 | ||||||||||||||||||||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issued | $ 1,412,158 | $ 4,796,123 | $ 1,318,909 | 1,121,490 | $ 1,891,267 | $ 1,645,222 | $ 7,771,169 | $ 12,521,932 | |||||||||||||||||||||
Notes payable current | 8,349,678 | $ 8,349,678 | $ 9,918,389 | $ 9,918,389 | |||||||||||||||||||||||||
Warrant issued | 47,000,000 | ||||||||||||||||||||||||||||
Shares granted | 94,000,000 | 1,008,324,212 | |||||||||||||||||||||||||||
Accrued interest | $ 28,104 | $ 28,104 | $ 28,104 | ||||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 898,705 | ||||||||||||||||||||||||||||
Stock based compensation | 337,896 | 481,000 | $ 740,050 | $ 2,158,050 | |||||||||||||||||||||||||
Exercise of warrant | 108,378,210 | 411,000,000 | |||||||||||||||||||||||||||
Warrant converted amount | $ 438,835 | ||||||||||||||||||||||||||||
Interest rate, percentage | 22% | 22% | |||||||||||||||||||||||||||
Class of warrant outstanding | 2,960,500 | ||||||||||||||||||||||||||||
Debt discount | |||||||||||||||||||||||||||||
Fair value of warrant | $ 393,949 | ||||||||||||||||||||||||||||
Options Held [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | 4,275,000 | ||||||||||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Warrant converted amount | $ 3,000,000 | ||||||||||||||||||||||||||||
Interest rate, percentage | 15% | ||||||||||||||||||||||||||||
Debt discount | $ 39,500 | ||||||||||||||||||||||||||||
Incentive Compensation Plan [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | 499,500 | 479,500 | |||||||||||||||||||||||||||
Twenty Twenty One Plan [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Description of plan | the Company amended the 2021 Plan increasing the maximum number of shares applicable to the 2021 Plan from 5,000,000 to 100,000,000. | ||||||||||||||||||||||||||||
Description of plan | 100,000,000 | ||||||||||||||||||||||||||||
Share-Based Payment Arrangement, Option [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | 47,462 | 0 | 150,896 | 0 | 240,550 | 1,678,550 | |||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | $ 0 | $ 0 | |||||||||||||||||||||||||||
Exercise of warrant | 108,378,210 | ||||||||||||||||||||||||||||
Stock issued at exercise of warrant | 45,306,557 | ||||||||||||||||||||||||||||
Warrant One [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Warrant issued | 170,000,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.01 | $ 0.064 | |||||||||||||||||||||||||||
Fair value of warrant | $ 2,035,033 | ||||||||||||||||||||||||||||
Warreant term | 3 years | ||||||||||||||||||||||||||||
Warrant 2 [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Warrant issued | 300,000,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.008 | $ 0.135 | |||||||||||||||||||||||||||
Fair value of warrant | $ 4,749,005 | ||||||||||||||||||||||||||||
Warreant term | 3 years | ||||||||||||||||||||||||||||
Warrant Three [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Warrant issued | 250,000,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.037 | ||||||||||||||||||||||||||||
Fair value of warrant | $ 1,284,783 | ||||||||||||||||||||||||||||
Warreant term | 3 years | ||||||||||||||||||||||||||||
Share-Based Payment Arrangement [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | $ 122,050 | $ 69,350 | |||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Relative fair value | 1,209,206 | 1,209,206 | |||||||||||||||||||||||||||
Number of shares issued, shares | 955,000,000 | 108,378,210 | |||||||||||||||||||||||||||
Share based compensaction | $ 47,462 | $ 0 | $ 150,896 | $ 0 | |||||||||||||||||||||||||
Warrant issued | 45,306,557 | 45,306,557 | |||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Common stock shares authorized | 6,000,000,000 | 5,000,000,000 | |||||||||||||||||||||||||||
Number of shares issued, shares | 116,104,232 | 675,336,434 | 903,636,004 | 280,929,190 | 197,161,536 | 191,691,135 | 133,881,576 | 1,859,901,628 | 1,057,841,576 | 645,168,473 | |||||||||||||||||||
Proceeds from issuance of common stock | $ 619,250 | $ 1,468,477 | $ 7,841,466 | $ 821,027 | $ 13,108,624 | ||||||||||||||||||||||||
Net proceeds from issuance of common stock | 1,412,158 | 7,527,190 | 7,771,169 | 12,521,932 | |||||||||||||||||||||||||
Payments of stock issuance costs | $ 30,000,000 | 56,320 | $ 314,276 | 447,858 | 586,692 | ||||||||||||||||||||||||
Shares payment for services | 6,500,000 | ||||||||||||||||||||||||||||
Shares payment for services, value | $ 44,460 | ||||||||||||||||||||||||||||
Stock issued during period, value, issued for services | 83,200 | $ 118,500 | |||||||||||||||||||||||||||
Gain on settlement of debt | $ 438,703 | $ 38,640 | |||||||||||||||||||||||||||
Payment for services, shares | 12,100,000 | ||||||||||||||||||||||||||||
Stock redeemed or called during period, shares | 17,116,894 | ||||||||||||||||||||||||||||
Stock issued during period, shares, conversion | 31,042,436 | ||||||||||||||||||||||||||||
Number of shares issued | 6,455,396 | $ 6,753 | $ 9,036 | $ 2,809 | $ 1,972 | $ 1,917 | $ 1,339 | $ 10,579 | $ 6,452 | ||||||||||||||||||||
Convertible debt | 825,000 | ||||||||||||||||||||||||||||
Accrued interest | 71,955 | ||||||||||||||||||||||||||||
Fees amount | $ 1,750 | ||||||||||||||||||||||||||||
Number of shares converted | 31,042,436 | ||||||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | 7,546,775 | ||||||||||||||||||||||||||||
Net book value | $ 6,894,099 | ||||||||||||||||||||||||||||
Shares corresponding adjustment to paid in capital | 395,022,447 | ||||||||||||||||||||||||||||
Debt discount | $ 75,000 | ||||||||||||||||||||||||||||
Exercise price of warrants | $ 0.01 | ||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions | 411,000,000 | ||||||||||||||||||||||||||||
Common Stock [Member] | Warrant [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Exercise of warrant | 411,000,000 | ||||||||||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Common stock shares authorized | 7,225,000,000 | 6,000,000,000 | |||||||||||||||||||||||||||
Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Number of shares issued, shares | 20,000,000 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||
Lender [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Stock redeemed or called during period, shares | 10,000,000 | ||||||||||||||||||||||||||||
Investor [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Number of shares issued, shares | 2,100,000 | ||||||||||||||||||||||||||||
Stock based compensation | $ 109,200 | ||||||||||||||||||||||||||||
Investor [Member] | Common Stock [Member] | Purchase Agreement [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Number of shares issued, shares | 17,500,000 | ||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Stock redeemed during period, value | $ 1,500,000 | ||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 2,533 | 2,533 | 2,533 | 2,533 | 2,532 | ||||||||||||||||||||||||
Number of shares issued, shares | 116,104.232 | 78 | |||||||||||||||||||||||||||
Preferred stock, par value | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | ||||||||||||||||||||||||
Preferred stock, shares authorized | 4,350 | 4,350 | 4,350 | 4,350 | 4,350 | ||||||||||||||||||||||||
Preferred stock, shares outstanding | 2,533 | 2,533 | 2,533 | 2,533 | 2,532 | ||||||||||||||||||||||||
Stock issued during period, shares, conversion | 1 | 316,345,998 | |||||||||||||||||||||||||||
Long term debt term | 5 years | ||||||||||||||||||||||||||||
Preferred stock convertible shares | 184 | 83 | 83 | ||||||||||||||||||||||||||
Number of shares issued | $ 7,546,775 | ||||||||||||||||||||||||||||
Notes payable current | $ 4,000,160 | ||||||||||||||||||||||||||||
Long term debt interest rate | 7% | ||||||||||||||||||||||||||||
Debt maturity date | Jul. 12, 2026 | ||||||||||||||||||||||||||||
Warrant issued | 329 | ||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Warrant [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 367 | 367 | |||||||||||||||||||||||||||
Stock issued during period, shares, conversion | 40 | ||||||||||||||||||||||||||||
Long term debt term | 5 years | 5 years | |||||||||||||||||||||||||||
Exercise price | $ 1 | $ 1 | |||||||||||||||||||||||||||
Fair value of warrant | $ 33,015,214 | ||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Stock issued during period, shares, conversion | 316,345,908 | ||||||||||||||||||||||||||||
Preferred stock convertible shares | 78 | 78 | |||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 38 | 38 | |||||||||||||||||||||||||||
Stock issued during period, value, issued for services | $ 40 | ||||||||||||||||||||||||||||
Payment for services, shares | 40 | ||||||||||||||||||||||||||||
Number of shares issued | |||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Lender [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 244 | 244 | 366 | 366 | |||||||||||||||||||||||||
Series E Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 3,350,000 | 3,350,000 | 3,350,000 | 3,350,000 | 3,350,000 | ||||||||||||||||||||||||
Number of shares issued, shares | 0 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Preferred stock, shares authorized | 4,350,000 | 4,350,000 | 4,350,000 | 4,350,000 | 4,350,000 | ||||||||||||||||||||||||
Preferred stock, shares outstanding | 3,350,000 | 3,350,000 | 3,350,000 | 3,350,000 | 3,350,000 | ||||||||||||||||||||||||
Stock redeemed or called during period, shares | 1,000,000 | ||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Stock issued during period, value, issued for services | |||||||||||||||||||||||||||||
Preferred stock, shares authorized | 4,350,000 | 4,350,000 | |||||||||||||||||||||||||||
Preferred stock, shares outstanding | 3,350,000 | 3,350,000 | |||||||||||||||||||||||||||
Number of shares issued | |||||||||||||||||||||||||||||
Series F Convertible Preferred Stock [Member] | Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, par value | $ 1 | $ 1 | |||||||||||||||||||||||||||
Preferred stock, shares authorized | 4,350 | 4,350 | |||||||||||||||||||||||||||
Preferred stock, shares outstanding | 2,533 | 2,533 | |||||||||||||||||||||||||||
Series G Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Number of shares issued, shares | 0 | ||||||||||||||||||||||||||||
Share based compensaction | $ 1,979,500 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Preferred stock, shares authorized | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | ||||||||||||||||||||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Stock redeemed during period, value | $ 1,500,000 | ||||||||||||||||||||||||||||
Shares granted | 1,500 | ||||||||||||||||||||||||||||
Series G Preferred Stock [Member] | Incentive Compensation Plan [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Share based compensaction | $ 479,500 | ||||||||||||||||||||||||||||
Series G Preferred Stock [Member] | Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Stock issued during period, value, issued for services | |||||||||||||||||||||||||||||
Preferred stock, par value | $ 1,000 | $ 1,000 | |||||||||||||||||||||||||||
Preferred stock, shares authorized | 100,000 | 100,000 | |||||||||||||||||||||||||||
Preferred stock, shares outstanding | 0 | 0 | |||||||||||||||||||||||||||
Number of shares issued | |||||||||||||||||||||||||||||
Series G Preferred Stock [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Number of shares issued, shares | 1,500 | ||||||||||||||||||||||||||||
Stock redeemed or called during period, shares | 1,500 | ||||||||||||||||||||||||||||
Number of shares issued | $ 1,500,000 | ||||||||||||||||||||||||||||
Stock based compensation | $ 1,500,000 | ||||||||||||||||||||||||||||
Unissued Series F Preferred Stock [Member] | |||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||
Number of shares issued, shares | 46 | ||||||||||||||||||||||||||||
Stock redeemed or called during period, shares | 19 | ||||||||||||||||||||||||||||
Number of shares issued | $ 99,086 | ||||||||||||||||||||||||||||
Stock redeemed during period, value | 74,984 | ||||||||||||||||||||||||||||
Stockholders equity other | 500,000 | ||||||||||||||||||||||||||||
Preferred stock dividend | $ 425,016 | ||||||||||||||||||||||||||||
Loan facility | $ 4,000,000 |
SCHEDULE OF MATURITY OF OPERATI
SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 |
Commitments and Contingencies Disclosure [Abstract] | |||
2024 | $ 229,016 | $ 248,669 | |
2025 | 207,558 | 219,863 | |
2026 | 207,558 | 207,558 | |
2027 | 207,558 | 207,558 | |
2028 | 207,558 | 207,558 | |
2029 and after | 501,599 | 657,268 | |
Total lease payments | 1,560,847 | 1,748,474 | |
Less: Interest | (450,015) | (549,263) | |
Present value of lease liabilities | $ 1,110,832 | $ 1,199,211 | $ 1,311,606 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jan. 28, 2022 | Sep. 30, 2021 | Mar. 10, 2021 | Dec. 18, 2020 | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | ||
Product Liability Contingency [Line Items] | |||||||||||
Minimum base rent | $ 64,081 | $ 61,005 | $ 189,164 | $ 194,653 | $ 260,271 | $ 275,785 | |||||
Security deposit | 17,380 | 17,380 | 21,239 | [1] | 21,239 | ||||||
Rent expense and operating lease cost | $ 64,081 | $ 61,005 | $ 189,164 | $ 194,653 | $ 260,271 | $ 275,785 | |||||
3-Years Lease Agreement [Member] | |||||||||||
Product Liability Contingency [Line Items] | |||||||||||
Description of operating lease | On September 30, 2021, the Company entered into a 3-year lease agreement for a vehicle commencing September 30, 2021 through to April 30, 2031 | ||||||||||
Minimum base rent | $ 1,538 | ||||||||||
Rental down payment | $ 18,462 | ||||||||||
Irvine CA [Member] | 15-Month Lease Agreement [Member] | |||||||||||
Product Liability Contingency [Line Items] | |||||||||||
Description of operating lease | On December 18, 2020, the Company entered into a 15-month lease agreement for office space at 18009 Sky Park Circle Suite E, Irvine CA, 92614, commencing on December 18, 2020 through to March 31, 2022 | ||||||||||
Minimum base rent | $ 3,859 | ||||||||||
Security deposit | $ 3,859 | ||||||||||
Ferndale, Michigan [Member] | 10 Years Lease Agreement [Member] | |||||||||||
Product Liability Contingency [Line Items] | |||||||||||
Description of operating lease | On March 10, 2021, the Company entered into a 10 year lease agreement for a manufacturing facility at 10800 Galaxie Avenue, Ferndale, Michigan, 48220, commencing on May 1, 2021 through to April 30, 2031 | ||||||||||
Minimum base rent | $ 15,880 | ||||||||||
Security deposit | $ 15,880 | ||||||||||
Description of base rent percentage | The base rent increase by 3% per annum commencing May 1, 2024 | ||||||||||
Santa Ana, California [Member] | 2-Years Lease Agreement [Member] | |||||||||||
Product Liability Contingency [Line Items] | |||||||||||
Description of operating lease | On January 28, 2022, the Company entered into a 2-year lease agreement for office space at 1516 E Edinger, Santa Ana, California, 92705, commencing on February 1, 2022 through to January 31, 2024 | ||||||||||
Minimum base rent | $ 1,500 | ||||||||||
Security deposit | $ 1,500 | ||||||||||
[1]Derived from audited information |
SCHEDULE OF NET INCOME (LOSS) P
SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Nov. 30, 2023 | Aug. 31, 2023 | May 31, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | May 31, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Earnings Per Share [Abstract] | ||||||||||
Net income (loss) available to common shareholders | $ (3,966,484) | $ (4,759,728) | $ (4,555,193) | $ (4,085,660) | $ (4,172,865) | $ (4,671,686) | $ (13,281,405) | $ (12,930,211) | $ (18,109,457) | $ (62,197,484) |
Add: interest expense on convertible debt | 22,438 | 27,863 | 47,075 | 24,954 | ||||||
Add: amortization of debt discount | 78,149 | 90,767 | ||||||||
Add (less) loss (gain) on settlement of debt | (3,992) | 0 | (3,992) | |||||||
Add (less) loss (gain) on change of derivative liabilities | (3,595) | (3,595) | (372,214) | |||||||
Net income (loss) adjusted for common stock equivalents | $ (3,966,484) | $ (3,985,073) | $ (13,281,405) | $ (12,819,168) | $ (18,065,977) | $ (62,544,744) | ||||
Weighted average shares - basic | 7,294,775,879 | 5,140,405,652 | 6,606,988,956 | 4,969,080,716 | 5,091,857,082 | 4,029,658,082 | ||||
Net income (loss) per share – basic | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (0.02) | ||||
Convertible Debt | ||||||||||
Preferred shares | ||||||||||
Warrants | ||||||||||
Total | ||||||||||
Weighted average shares – diluted | 7,294,775,879 | 5,140,405,652 | 6,606,988,956 | 4,969,080,716 | 5,091,857,082 | 4,029,658,082 | ||||
Net income (loss) per share – diluted | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (0.02) |
SCHEDULE OF ANTI-DILUTIVE SHARE
SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS (Details) - shares | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | 27,045,911,584 | 1,237,643,136 | 27,045,911,584 | 1,237,643,136 | 496,942,251 | 1,261,773,222 | |
Series F Preferred Stock [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | [1] | 26,617,244,133 | 26,617,244,133 | ||||
Stock Options and Warrants [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | 428,667,451 | 401,217,451 | 428,667,451 | 401,217,451 | |||
Convertible Notes And Accrued Interest [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | 836,425,685 | 836,425,685 | 4,927,561 | ||||
Convertible Series F Preferred Shares [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | 18,148,779,827 | 18,148,779,827 | 20,178,158,517 | 16,336,475,742 | |||
Convertible Class F Preferred Shares [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | |||||||
Share-Based Payment Arrangement, Option [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||
Anti-dilutive shares of common stock | 496,942,251 | 1,256,845,661 | |||||
[1]On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at November 30, 2023 and 2022 the dilutive effects would be as follows: |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | ||||||||
Sep. 24, 2023 | Mar. 22, 2023 | Jan. 12, 2024 | Jun. 05, 2023 | Nov. 30, 2023 | Aug. 30, 2023 | Aug. 29, 2023 | Mar. 19, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | |
Subsequent Event [Line Items] | ||||||||||
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 | 7,225,000,000 | 10,000,000,000 | 7,225,000,000 | |||||
Subsequent Event [Member] | Share Purchase Agreement [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Number of shares issued | 639,550 | 280,929,190 | ||||||||
Gross proceeds | $ 1,523,258 | $ 1,400,194 | ||||||||
Purchase of common stock | 62,980 | 81,285 | ||||||||
Cash proceeds | $ 1,460,278 | $ 1,318,909 | ||||||||
Common stock, shares authorized | 1,225,000,000 | |||||||||
Subsequent Event [Member] | Equity Financing Agreement [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Equity security description | Closing Price for the Common Stock during the three (3) trading days preceding a purchase is equal to or greater than one cent ($.01) per share, the applicable purchase price shall equal eighty five percent (85%) of the lowest trade price in the 9 day preceding period | |||||||||
Subsequent Event [Member] | Equity Financing Agreement [Member] | Lowest Volume Weighted Average Price [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Purchase price, percentage | 90% | |||||||||
Share price | $ 4.50 | |||||||||
Subsequent Event [Member] | Equity Financing Agreement [Member] | Investor [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Investments | $ 30,000,000 | |||||||||
Purchase price, percentage | 80% | |||||||||
Subsequent Event [Member] | Placement Agent Agreement [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Subsequent Event, Description | (a) upon consummation of the closing of a financing on our behalf, a finder’s fee in cash equal to 8% of the gross proceeds of an equity/convertible security (4% of for Equity Lines of Credit) and/or cash equal to 3% of the gross proceeds of a non-convertible debt transaction; (b) pay Darbie non-callable warrants equal to 8% warrant coverage of the amount raised (0% warrant coverage for Equity Lines of Credit. In conjunction with (b), the warrants will entitle the holder to purchase our securities at a purchase price equal to 120% of the introduced party’s exercise price of the transaction or the public market closing price of our common stock on the date of the transaction, whichever is lower |
REVENUE EARNING ROBOTS CONSISTE
REVENUE EARNING ROBOTS CONSISTED OF THE FOLLOWING (Details) - USD ($) | Nov. 30, 2023 | Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2021 |
Investments, All Other Investments [Abstract] | ||||
Revenue earning devices | $ 3,321,560 | $ 2,015,058 | $ 2,015,058 | $ 1,143,724 |
Less: Accumulated depreciation | (1,209,664) | (779,839) | (779,839) | (434,661) |
Property, Plant and Equipment, Other, Net | $ 2,111,896 | $ 1,235,219 | $ 1,235,219 | $ 709,063 |
INVESTMENT (Details Narrative)
INVESTMENT (Details Narrative) | Dec. 23, 2022 USD ($) |
Simple Agreement for future equity [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Capital stock discount | $ 50,000 |
SCHEDULE OF CONVERTIBLE NOTES P
SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($) | 12 Months Ended | |||
Feb. 28, 2023 | Feb. 28, 2022 | Jan. 19, 2021 | ||
Short-Term Debt [Line Items] | ||||
Annual interest rate | 22% | |||
Conversion rate per share | $ 0.027 | |||
Convertible notes payable | $ 3,500 | |||
(Less): current portion of convertible notes payable | (3,500) | |||
(Less): discount on noncurrent convertible notes payable | ||||
Noncurrent convertible notes payable, net of discount | ||||
Current portion of convertible notes payable | 3,500 | |||
(Less): discount on current portion of convertible notes payable | ||||
Current portion of convertible notes payable, net of discount | 3,500 | |||
Convertible Notes Payable One [Member] | ||||
Short-Term Debt [Line Items] | ||||
Debt Instrument, Issuance Date | Jul. 18, 2016 | |||
Debt Instrument, Maturity Date | [1] | Jul. 18, 2017 | ||
Annual interest rate | 8% | |||
Conversion rate per share | [2] | $ 0.003 | ||
Convertible notes payable | 3,500 | |||
Convertible Notes Payable Two [Member] | ||||
Short-Term Debt [Line Items] | ||||
Debt Instrument, Issuance Date | Aug. 09, 2022 | |||
Debt Instrument, Maturity Date | Aug. 09, 2023 | |||
Annual interest rate | 12% | |||
Conversion rate per share | [3] | $ 0.009 | ||
Convertible notes payable | ||||
[1]This note was in default as of February 28, 2022. Default interest rate 22 |
SCHEDULE OF CONVERTIBLE NOTES_2
SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Parenthetical) (Details) | Feb. 28, 2022 |
Debt Disclosure [Abstract] | |
Convertible notes, interest rate | 22% |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Aug. 09, 2022 | Jan. 27, 2021 | Jun. 30, 2021 | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2021 | Jan. 19, 2021 | Jul. 18, 2016 | |
Debt Instrument [Line Items] | ||||||||||||
Original issue discounts | $ 75,000 | $ 0 | $ 0 | |||||||||
Derivative liabilities | 393,949 | 438,835 | ||||||||||
Amortization of debt discount interest expense | 524,699 | 775,986 | ||||||||||
Accrued interest | 28,104 | 28,104 | ||||||||||
Loans payable | $ 32,473,345 | $ 32,473,345 | 31,254,345 | 26,233,598 | $ 3,500 | |||||||
Convertible notes | $ 3,500 | |||||||||||
Interest rate | 22% | |||||||||||
Original issue discount | ||||||||||||
Debt discount | 1,755,897 | $ 1,094,388 | 1,980,033 | 7,597,242 | ||||||||
Debt instrument convertible conversion price per share | $ 0.027 | |||||||||||
Derivative discount | $ 438,835 | |||||||||||
Gain (loss) on settlement of debt | $ 360,125 | 38,740 | $ 3,992 | 3,992 | (33,068,313) | |||||||
Minimum [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument convertible conversion price per share | $ 0.10 | |||||||||||
Maximum [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument convertible conversion price per share | $ 0.03 | |||||||||||
Warrant [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Convertible notes | $ 750,000 | |||||||||||
Debt instrument maturity period | one year maturity | |||||||||||
Interest rate | 12% | |||||||||||
Debt discount | $ 393,949 | |||||||||||
Common Stock [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Accrued interest | 71,955 | |||||||||||
Convertible notes | 825,000 | |||||||||||
Warrants to purchase of common stock | 47,000,000 | |||||||||||
Exercise price | $ 0.01 | |||||||||||
Proceeds from issuance of common stock | $ 619,250 | $ 1,468,477 | 7,841,466 | $ 821,027 | 13,108,624 | |||||||
Original issue discount | 75,000 | |||||||||||
Transaction fees | $ 55,750 | |||||||||||
Gain (loss) on settlement of debt | $ 438,703 | $ 38,640 | ||||||||||
Fee amount | $ 1,750 | |||||||||||
Number of shares converted | 31,042,436 | |||||||||||
Warrant 2 [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument maturity period | five year maturity | |||||||||||
Warrants to purchase of common stock | 47,000,000 | |||||||||||
Exercise price | $ 0.008 | |||||||||||
Maximum limit of extinguishment of note balance | $ 375,000 |
SUMMARY OF WARRANT AND STOCK OP
SUMMARY OF WARRANT AND STOCK OPTION ACTIVITY (Details) - $ / shares | 12 Months Ended | |||
Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2021 | ||
Derivative Liabilities | ||||
Number of Warrants, Outstanding, Beginning Balance | 1,216,845,661 | 619,523,492 | ||
Weighted Average Exercise Price, Outstanding Beginning Balance | $ 0.06 | $ 0.03 | ||
Weighted Average Remaining Years, Outstanding | 1 year 11 months 12 days | 2 years 4 months 17 days | 2 years 9 months 21 days | |
Number of Warrants, Issued | 94,000,000 | 1,008,324,212 | ||
Weighted Average Exercise Price, Issued | $ 0.010 | $ 0.06 | ||
Weighted Average Remaining Years, Issued | 4 years 8 months 8 days | 2 years 5 months 19 days | ||
Number of Warrants, Exercised | (108,378,210) | (411,000,000) | ||
Weighted Average Exercise Price, Exercised | $ 0.011 | $ 0.06 | ||
Weighted Average Remaining Years, Exercised | 2 years 5 months 8 days | 1 year 8 months 12 days | ||
Number of Warrants, Forfeited and cancelled | (955,000,000) | (2,043) | ||
Weighted Average Exercise Price,Forfeited and cancelled | $ 0.008 | |||
Number of Warrants, Adjusted | [1] | 66,750,000 | ||
Weighted Average Exercise Price, Adjusted | [1] | $ 0.011 | ||
Weighted Average Remaining Years, Adjusted | [1] | 1 year 4 months 28 days | ||
Weighted Average Exercise Price, Exercised | $ (0.011) | $ (0.06) | ||
Weighted Average Exercise Price,Forfeited and cancelled | $ (0.008) | |||
Weighted Average Remaining Years, Forfieted and cancelled | 1 year 3 months 29 days | |||
Number of Warrants, Outstanding, Ending Balance | 314,217,451 | 1,216,845,661 | 619,523,492 | |
Weighted Average Exercise Price, Outstanding Ending Balance | $ 0.114 | $ 0.06 | $ 0.03 | |
[1]Required dilution adjustment per warrant agreement |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF WARRANTS (Details) | Sep. 01, 2022 USD ($) $ / shares shares | Apr. 09, 2021 $ / shares shares | Aug. 09, 2022 USD ($) shares | Feb. 28, 2022 USD ($) $ / shares shares |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrant issued | shares | 47,000,000 | |||
Fair value of warrant | $ | $ 393,949 | |||
Incentives Compensation Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Description of plan | the Company as part of the afore-mentioned Incentive Stock Option Plan issued 100,000,000 shares to 64 employees. The shares were issued with an exercise price of $0.02, vest after 4 years with a 5 year term having a fair value of $1,020,000 | |||
Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
WarrantsTerm | 3 years | |||
Warrant issued | shares | 285,000,000 | |||
Exercise price of warrants | $ / shares | $ 0.164 | |||
Fair value of warrant | $ | $ 5,415,000 | |||
Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrant issued | shares | 3,324,212 | |||
Fair value of warrant | $ | $ 21,929 | |||
Employee Stock Option One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock option granted | shares | 10,000,000 | |||
Stock option granted, exercise price | $ / shares | $ 0.15 | |||
Share price | $ / shares | $ 0.30 | |||
Employee Stock Option Two [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock option granted | shares | 30,000,000 | |||
Stock option granted, exercise price | $ / shares | $ 0.25 | |||
Share price | $ / shares | $ 0.50 | |||
Incentives Compensation Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Stock option granted | shares | 100,000,000 | |||
Stock option granted, exercise price | $ / shares | $ 0.02 | |||
Fair value stock option amount | $ | $ 1,020,000 | |||
Measurement Input, Share Price [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.0164 | |||
Measurement Input Common Stock Fair Value [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.012 | |||
Measurement Input Common Stock Fair Value [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.019 | |||
Measurement Input, Expected Dividend Rate [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0 | |||
Measurement Input, Expected Dividend Rate [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0 | |||
Measurement Input, Risk Free Interest Rate [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 2.98 | |||
Measurement Input, Expected Term [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
WarrantsTerm | 5 years | |||
Measurement Input, Expected Term [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
WarrantsTerm | 3 years | |||
Measurement Input, Expected Term [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
WarrantsTerm | 3 years | |||
Measurement Input, Expected Term [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
WarrantsTerm | 3 years | |||
Minimum [Member] | Measurement Input, Share Price [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.008 | |||
Minimum [Member] | Measurement Input, Share Price [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.135 | |||
Minimum [Member] | Measurement Input, Share Price [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.041 | |||
Minimum [Member] | Measurement Input Common Stock Fair Value [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.146 | |||
Minimum [Member] | Measurement Input Common Stock Fair Value [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.039 | |||
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 88.2 | |||
Minimum [Member] | Measurement Input, Price Volatility [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 411 | |||
Minimum [Member] | Measurement Input, Price Volatility [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 385.60 | |||
Minimum [Member] | Measurement Input, Price Volatility [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 35.30 | |||
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.43 | |||
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrant Five [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 1.62 | |||
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.46 | |||
Maximum [Member] | Measurement Input, Share Price [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.01 | |||
Maximum [Member] | Measurement Input, Share Price [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.037 | |||
Maximum [Member] | Measurement Input, Share Price [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.029 | |||
Maximum [Member] | Measurement Input Common Stock Fair Value [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.0071 | |||
Maximum [Member] | Measurement Input Common Stock Fair Value [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.028 | |||
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 90 | |||
Maximum [Member] | Measurement Input, Price Volatility [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 403.33 | |||
Maximum [Member] | Measurement Input, Price Volatility [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 35.90 | |||
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrant Four [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.27 | |||
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | Warrant Six [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||
Warrants measurement input | 0.95 |
SCHEDULE OF COMMON STOCK OPTION
SCHEDULE OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS (Details) - Share-Based Payment Arrangement, Option [Member] | 12 Months Ended |
Feb. 28, 2023 $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Strike price | $ 0.02 |
Fair value of Company's common stock | $ 0.01 |
Dividend yield | 0% |
Expected volatility | 340.90% |
Risk free interest rate | 3.39% |
Expected term (years) | 4 years 6 months |
DERIVATIVE LIABILITIES (Details
DERIVATIVE LIABILITIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2023 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Derivative Liabilities | ||||||
Derivative liabilities current | $ 7,587 | |||||
Change in fair value of derivative liabilities | 0 | 3,595 | ||||
Gain loss related to litigation settlement | $ 3,992 | $ 0 | 3,992 | |||
Change in fair value of derivative liabilities | 372,214 | |||||
Adjustment of derivative liabilities | $ 81,228 |
SCHEDULE OF INCOME TAX EXPENSES
SCHEDULE OF INCOME TAX EXPENSES (BENEFIT) (Details) - USD ($) | 12 Months Ended | |
Feb. 28, 2023 | Feb. 28, 2022 | |
Income Tax Disclosure [Abstract] | ||
Total current | ||
Total deferred | ||
Total |
SCHEDULE OF EXPECTED STATUTORY
SCHEDULE OF EXPECTED STATUTORY FEDERAL INCOME TAX PROVISION (Details) - USD ($) | 12 Months Ended | |
Feb. 28, 2023 | Feb. 28, 2022 | |
Income Tax Disclosure [Abstract] | ||
Federal statutory rate | $ (3,803,000) | $ (13,061,500) |
State income tax benefit, net of federal benefit | (859,400) | (2,954,400) |
Non deductible interest | 415,800 | 4,027,800 |
Non deductible stock based compensation | 155,400 | 169,400 |
Change in valuation allowance | 4,091,200 | 3,398,800 |
Non deductible settlement losses | 8,515,100 | |
Non deductible changes in fair value of instruments | (95,800) | |
Other non deductible expenses | 600 | |
Total |
SCHEDULE OF COMPONENTS OF DEFER
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) | Feb. 28, 2023 | Feb. 28, 2022 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 12,651,115 | $ 8,445,915 |
Debt discount | 114,000 | |
Total deferred tax assets | 12,651,115 | 8,559,915 |
Depreciation | ||
Deferred revenue | ||
Total deferred tax liabilities | ||
Less valuation allowance | (12,651,115) | (8,559,915) |
Net deferred tax assets (liabilities) |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Feb. 28, 2023 | Feb. 28, 2022 | |
Income Tax Disclosure [Abstract] | ||
Income tax statutory rate | 21% | 21% |
Net operating loss carryforward | $ 44,448,800 | $ 28,200,000 |
Operating loss carryforwards expiration | 2030 |