Loop Industries (LOOP) 10-Q 16 Oct 23 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 31, 2023	Oct. 13, 2023
Cover [Abstract]
Entity Registrant Name	Loop Industries, Inc.
Entity Central Index Key	0001504678
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Aug. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		47,521,187
Entity File Number	000-54768
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	27-2094706
Entity Address Address Line 1	480 Fernand-Poitras
Entity Address Address Line 2	Terrebonne
Entity Address City Or Town	Québec
Entity Address Postal Zip Code	J6Y 1Y4
City Area Code	450
Local Phone Number	951-8555
Security 12b Title	Common Stock
Trading Symbol	LOOP
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Address Country	CA

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Current assets
Cash and cash equivalents	$ 13,365	$ 29,591
Restricted cash	1,000	1,000
Sales tax, tax credits and other receivables (Note 3)	1,195	1,075
Inventories (Note 4)	905	727
Deposits on equipment (Note 5)	8,460	3,395
Prepaid expenses and other deposits (Note 5)	115	636
Total current assets	25,040	36,424
Investment in joint venture	381	381
Property, plant and equipment, net (Note 6)	2,360	2,545
Intangible assets, net (Note 7)	1,375	1,210
Total assets	29,156	40,560
Current liabilities
Accounts payable and accrued liabilities (Note 9)	1,998	2,510
Customer deposits	1,000	1,012
Current portion of long-term debt (Note 10)	356	62
Total current liabilities	3,354	3,584
Long-term debt (Note 10)	2,970	3,240
Total liabilities	6,324	6,824
Stockholders' Equity
Series A Preferred stock par value $0.0001; 25,000,000 shares authorized; one share issued and outstanding	0	0
Common stock par value $0.0001; 250,000,000 shares authorized; 47,521,187 shares issued and outstanding (February 28, 2023 - 47,469,224) (Note 12)	5	5
Additional paid-in capital	171,113	170,370
Additional paid-in capital - Warrants	20,385	20,385
Accumulated deficit	(167,634)	(155,883)
Accumulated other comprehensive loss	(1,037)	(1,141)
Total stockholders' equity	22,832	33,736
Total liabilities and stockholders' equity	$ 29,156	$ 40,560

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2023	Feb. 28, 2023
Stockholders' Equity
Series A preferred stock, par value	$ 0.0001	$ 0.0001
Series A preferred stock, share authorized	25,000,000,000	25,000,000,000
Series A preferred stock, share issued	1,000	1,000
Series A preferred stock, share outstanding	1,000	1,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000,000	250,000,000,000
Common stock, shares issued	47,521,187,000	47,469,224,000
Common stock, shares outstanding	47,521,187,000	47,469,224,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Revenue from contracts with customers	$ 54	$ 135	$ 81	$ 135
Expenses :
Research and development (Note 13)	2,038	3,751	6,528	10,552
General and administrative (Note 14)	2,843	4,011	5,308	15,047
Depreciation and amortization (Notes 6 and 7)	136	138	268	277
Total expenses	5,017	7,900	12,104	25,876
Other (income) loss :
Interest and other financial expenses	44	43	98	84
Interest income	(219)	(10)	(318)	(23)
Foreign exchange gain	(38)	(93)	(52)	(91)
Total other (income) loss	(213)	(60)	(272)	(30)
Net loss	(4,750)	(7,705)	(11,751)	(25,711)
Other comprehensive loss -
Foreign currency translation adjustment	84	(412)	104	(417)
Comprehensive loss	$ (4,666)	$ (8,117)	$ (11,647)	$ (26,128)
Net loss per share
Basic and diluteds	$ (0.10)	$ (0.16)	$ (0.25)	$ (0.54)
Weighted average common shares outstanding
Basic and diluted	47,521,187	47,400,709	47,518,645	47,400,640

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-In Capital	Additional Paid-in Capital - Warrants	Accumulated Deficit	Accumulated other comprehensive Income (Loss)	Common Stocks	Series A, Preferred Stocks
Balance, shares at Feb. 28, 2022						47,388,056	1
Balance, amount at Feb. 28, 2022	$ 45,995	$ 150,397	$ 30,272	$ (134,583)	$ (96)	$ 5	$ 0
Issuance of shares upon the vesting of restricted stock units (Note 15), shares						12,653
Issuance of shares upon the vesting of restricted stock units (Note 15), amount	0	0	0	0	0	$ 0	0
Expiration of warrants (Note 17)	0	9,809	(9,809)	0	0	0	0
Stock options issued for services (Note 15)	630	630	0	0	0	0	0
Restricted stock units issued for services (Note 15)	8,465	8,465	0	0	0	0	0
Foreign currency translation	(417)	0	0	0	(417)	0	0
Net loss	(25,711)	0	0	(25,711)	0	$ 0	$ 0
Balance, shares at Aug. 31, 2022						47,400,709	1
Balance, amount at Aug. 31, 2022	28,962	169,301	20,463	(160,294)	(513)	$ 5	$ 0
Balance, shares at May. 31, 2022						47,400,709	1
Balance, amount at May. 31, 2022	36,450	158,863	30,272	(152,589)	(101)	$ 5	$ 0
Stock options issued for services (Note 15)	313	313	0	0	0	0	0
Restricted stock units issued for services (Note 15)	316	316	0	0	0	0	0
Foreign currency translation	(412)	0	0	0	(412)	0	0
Net loss	(7,705)	0	0	(7,705)	0	0	0
Expiration of warrants (Note 17)	0	9,809	(9,809)	0	0	$ 0	$ 0
Balance, shares at Aug. 31, 2022						47,400,709	1
Balance, amount at Aug. 31, 2022	28,962	169,301	20,463	(160,294)	(513)	$ 5	$ 0
Balance, shares at Feb. 28, 2023						47,469,224	1
Balance, amount at Feb. 28, 2023	33,736	170,370	20,385	(155,883)	(1,141)	$ 5	$ 0
Issuance of shares upon the vesting of restricted stock units (Note 15), shares						51,963
Issuance of shares upon the vesting of restricted stock units (Note 15), amount	0	0	0	0	0	$ 0	0
Stock options issued for services (Note 15)	333	333	0	0	0	0	0
Restricted stock units issued for services (Note 15)	410	410	0	0	0	0	0
Foreign currency translation	104	0	0	0	104	0	0
Net loss	(11,751)	0	0	(11,751)	0	$ 0	$ 0
Balance, shares at Aug. 31, 2023						47,521,187	1
Balance, amount at Aug. 31, 2023	22,832	171,113	20,385	(167,634)	(1,037)	$ 5	$ 0
Balance, shares at May. 31, 2023						47,521,187	1
Balance, amount at May. 31, 2023	27,110	170,725	20,385	(162,884)	(1,121)	$ 5	$ 0
Stock options issued for services (Note 15)	172	172	0	0	0	0	0
Restricted stock units issued for services (Note 15)	216	216	0	0	0	0	0
Foreign currency translation	84	0	0	0	84	0	0
Net loss	(4,750)	0	0	(4,750)	0	$ 0	$ 0
Balance, shares at Aug. 31, 2023						47,521,187	1
Balance, amount at Aug. 31, 2023	$ 22,832	$ 171,113	$ 20,385	$ (167,634)	$ (1,037)	$ 5	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (11,751)	$ (25,711)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization (Notes 6 and 7)	268	277
Stock-based compensation expense (Note 15)	743	9,095
Accretion and accrued interest expenses (Note 10)	36	79
Changes in operating assets and liabilities:
Sales tax and tax credits receivable (Note 3)	(114)	(143)
Inventories (Note 4)	(175)	(330)
Prepaid expenses (Note 5)	510	124
Accounts payable and accrued liabilities (Note 9)	(522)	(2,799)
Customer deposits	(12)	0
Net cash used in operating activities	(11,017)	(19,408)
Cash Flows from Investing Activities
Deposits on equipment (Note 5)	(5,065)	(1,271)
Additions to property, plant and equipment (Note 6)	0	(58)
Additions to intangible assets (Note 7)	(225)	(141)
Net cash used in investing activities	(5,290)	(1,470)
Cash Flows from Financing Activities
Repayment of long-term debt (Note 10)	(32)	0
Net cash (used) provided by financing activities	(32)	0
Effect of exchange rate changes	113	(183)
Net decrease in cash	(16,226)	(21,061)
Cash, cash equivalents and restricted cash, beginning of period	30,591	44,061
Cash, cash equivalents and restricted cash, end of period	14,365	23,000
Supplemental Disclosure of Cash Flow Information:
Income tax paid	0	0
Interest paid	43	0
Interest received	$ 213	$ 23

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Aug. 31, 2023
Investissement Quebec Financing Facility [Member]
The Company and Basis of Presentation	1. The Company and Basis of Presentation The Company Loop Industries, Inc. (the “Company,” “Loop,” “we,” or “our”) is a technology company that owns patented and proprietary technology that depolymerizes no and low-value waste polyethylene terephthalate (“PET”) plastic and polyester fiber to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber. The Company is currently in the pre-commercialization stage with limited revenues. Basis of Presentation These unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures included in these unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2023, filed with the SEC on May 18, 2023. The unaudited interim condensed consolidated financial statements comprise the consolidated financial position and results of operations of Loop Industries, Inc. and its subsidiaries, Loop Innovations, LLC and Loop Canada Inc. All subsidiaries are, either directly or indirectly, wholly owned subsidiaries of Loop Industries, Inc. (collectively, the “Company”). The Company also owns, through Loop Innovations, LLC, a 50% interest in a joint venture, Indorama Loop Technologies, LLC, which is accounted for under the equity method. Intercompany balances and transactions are eliminated on consolidation. The condensed consolidated balance sheet as of February 28, 2023, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by US GAAP on an annual reporting basis. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods. The results for the three- and six-month periods ended August 31, 2023 are not necessarily indicative of the results to be expected for any subsequent quarter, for the fiscal year ending February 29, 2024, or for any other period. The consolidated financial statements of the Company have been prepared on a going concern basis, which contemplates the continuing of operations, the realization of assets and the settlement of liabilities in the normal course of business. All monetary amounts in these notes to the condensed consolidated financial statements are in thousands of U.S. dollars unless otherwise specified, except for per share data.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Aug. 31, 2023
Summary of Significant Accounting Policies
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Liquidity Risk Assessment Since its inception, the Company has been in the pre-commercialization stage with limited revenues from customers, and its ongoing operations and commercialization plans have been financed primarily by raising equity. The Company has incurred net losses and negative cash flow from operating and investing activities since its inception and expects to incur additional net losses while it continues to develop and plan for commercialization. As at August 31, 2023, the Company’s available liquidity was $15,952, consisting of cash and cash equivalents of $13,365 and an undrawn senior loan facility from a Canadian bank of $2,587. Management actively monitors the Company’s cash resources against the Company’s short-term cash commitments to ensure the Company has sufficient liquidity to fund its costs for at least twelve months from the financial statement issuance date. Management evaluates the Company’s liquidity to determine if there is substantial doubt about the Company’s ability to continue as a going concern. In preparing this liquidity assessment, management applies significant judgment in estimating future cash flow requirements of the Company based on budgets and forecasts, which includes developing assumptions related to: (i) estimation of amount and timing of future cash outflows and inflows and (ii) determining what future expenditures are committed and what could be considered discretionary. Based on this assessment, management believes that the Company will be able to realize its assets and discharge its liabilities in the normal course of operations as they become due for a period of no less than twelve months from the date of issuance of these unaudited interim condensed consolidated financial statements. The Company’s ability to move to the next stage of its strategic development and construct manufacturing plants is dependent on whether the Company can obtain the necessary financing through a combination of the issuance of debt, equity, and/or joint ventures, and/or government incentive programs, and/or customers. However, there is no assurance that the Company will be successful in attracting additional funding. Even if additional financing is available, it may not be available on terms favorable to the Company. Failure to secure additional financing on favorable terms when it becomes required would have an adverse effect on the Company’s financial position and on its ability to execute its business plan. Use of estimates The preparation of financial statements in conformity with US GAAP requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include the going concern assessment, estimates for depreciable lives of property, plant and equipment and intangible assets, recoverability of tax credits receivable, assumptions made in calculating the fair value of stock-based compensation and other equity instruments, and the assessment of performance conditions for stock-based compensation awards. Net earnings (loss) per share The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share For the three- and six-month periods ended August 31, 2023 and 2022, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at August 31, 2023, the potentially dilutive securities consisted of 2,782,000 outstanding stock options (2022 – 1,570,000), 4,417,688 outstanding restricted stock units (2022 – 4,128,718), and 7,089,400 outstanding warrants (2022 – 7,104,553).

Sales Tax Tax Credits and Other

Sales Tax Tax Credits and Other Receivables	6 Months Ended
	Aug. 31, 2023
Sales Tax Tax Credits and Other Receivables
Sales Tax, Tax Credits And Other Receivables	3. Sales Tax, Tax Credits and Other Receivables Sales tax, research and development tax credits and other receivables as at August 31, 2023 and February 28, 2023 were as follows: August 31, 2023 February 28, 2023 Sales tax $ 148 $ 170 Investment tax credits 461 461 Research and development tax credits 454 402 Other receivables 132 42 $ 1,195 $ 1,075

Inventories

Inventories	6 Months Ended
	Aug. 31, 2023
Inventories
Inventories	4. Inventories Inventories as at August 31, 2023 and February 28, 2023 were as follows: August 31, 2023 February 28, 2023 Finished goods $ 561 $ 242 Work in process 305 467 Raw materials 39 18 $ 905 $ 727 As at August 31 and February 28, 2023, inventories included finished goods, work in process and raw materials. Finished goods inventories consist of bottle grade and fiber grade Loop ™ ™

Deposits and Prepaid Expenses

Deposits and Prepaid Expenses	6 Months Ended
	Aug. 31, 2023
Deposits and Prepaid Expenses
Deposits and Prepaid Expenses	5. Deposits and Prepaid Expenses As at August 31, 2023, the Company had $8,460 (February 28, 2023 – $3,395) of non-refundable cash deposits on long-lead equipment that are intended to be used in the first planned Infinite Loop ™ Prepaid expenses and other deposits as at August 31, 2023 were $115 and $636 as at February 28, 2023.

Property Plant and Equipment

Property Plant and Equipment	6 Months Ended
	Aug. 31, 2023
Property Plant and Equipment
Property, Plant And Equipment	6. Property, Plant and Equipment As at August 31, 2023 Cost Accumulated depreciation, write- down and impairment Net book value Building $ 1,832 $ (341 ) $ 1,491 Land 226 - 226 Building and Land Improvements 1,850 (1,331 ) 519 Office equipment and furniture 276 (152 ) 124 $ 4,184 $ (1,824 ) $ 2,360 As at February 28, 2023 Cost Accumulated depreciation, write- down and impairment Net book value Building $ 1,822 $ (309 ) $ 1,513 Land 225 - 225 Building and Land Improvements 1,839 (1,166 ) 673 Office equipment and furniture 274 (140 ) 134 $ 4,160 $ (1,615 ) $ 2,545 Depreciation expense for the three- and six-month periods ended August 31, 2023 amounted to $101 and $201, respectively (2022 – $117 and $237).

Intangible Assets

Intangible Assets	6 Months Ended
	Aug. 31, 2023
Intangible Assets
Intangible Assets	7. Intangible Assets Intangible assets as at August 31, 2023 and February 28, 2023 were $1,375 and $1,210, respectively. During the six-month periods ended August 31, 2023 and 2022, we made additions relating to patent application costs to intangible assets of $225 and $141, respectively. Amortization expense for the three- and six-month periods ended August 31, 2023 amounted to $35 and $67, respectively (2022 – $21 and $40).

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Aug. 31, 2023
Fair Value of Financial Instruments
Fair value of financial instruments	8. Fair Value of Financial Instruments The following tables presents the fair value of the Company’s financial liabilities as at August 31, 2023 and February 28, 2023: Fair Value as at August 31, 2023 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,326 $ 3,301 Level 2 Fair Value as at February 28, 2023 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,302 $ 3,280 Level 2 The fair value of cash and cash equivalents, restricted cash, customer deposits, other receivables, and accounts payable and accrued liabilities approximate their carrying values due to their short-term maturity.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Aug. 31, 2023
Accounts Payable and Accrued Liabilities
Accounts Payable And Accrued Liabilities	9. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities as at August 31, 2023 and February 28, 2023 were as follows: August 31, 2023 February 28, 2023 Trade accounts payable $ 283 $ 1,020 Accrued employee compensation 863 712 Accrued professional fees 556 410 Accrued insurance premiums 171 70 Accrued engineering fees 20 96 Other accrued liabilities 105 202 $ 1,998 $ 2,510

Long Term Debt

Long Term Debt	6 Months Ended
	Aug. 31, 2023
Long Term Debt
Long-term Debt	10. Long‑Term Debt Long-term debt as of August 31, 2023 and February 28, 2023, was comprised of the following: August 31, 2023 February 28, 2023 Investissement Québec financing facility: Principal amount $ 3,381 $ 3,380 Unamortized discount (227 ) (261 ) Accrued interest 172 183 Total Investissement Québec financing facility 3,326 3,302 Less: current portion of long-term debt (356 ) (62 ) Long-term debt, net of current portion $ 2,970 $ 3,240 Investissement Québec financing facility The Company recorded interest expense on the Investissement Québec loan for the three- and six-month periods ended August 31, 2023 in the amount of $22 and $43, respectively (2022 – $22 and $44) and an accretion expense of $18 and $36, respectively (2022 – $18 and $35). During the six-month period ended August 31, 2023, the Company made repayments of $32 (2022 – nil) on the Investissement Québec loan. Total repayments due on the Company’s indebtedness over the next five years are as follows: Years ending Amount February 29, 2024 $ 32 February 28, 2025 587 February 28, 2026 587 February 28, 2027 587 February 29, 2028 587 Thereafter 1,173 Total $ 3,553 Credit facility from a Canadian bank On July 26, 2022, Loop Canada, Inc., a wholly-owned subsidiary of the Company, entered into an Operating Credit Facility (the “Credit Facility”) with a Canadian bank. The Credit Facility allows for borrowings of up to $2,587 in aggregate principal amount and provides for a two-year term. The Credit Facility is secured by the Company’s Terrebonne, Québec property and is subject to a minimum equity covenant, tested quarterly with which the Company was in compliance as at August 31, 2023. All borrowings under the Credit Facility will bear interest at an annual rate equal to the bank’s Canadian prime rate plus 1.0%. The Company is subject to a guarantee of the liabilities of Loop Canada Inc. As at August 31, 2023, the Credit Facility was available and undrawn.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Aug. 31, 2023
Related Party Transactions
Related Party Transactions	11. Related Party Transactions Employment Agreement On June 29, 2015, the Company entered into an employment agreement with Mr. Daniel Solomita, the Company’s President and Chief Executive Officer (“CEO”). The employment agreement is for an indefinite term. On July 13, 2018, the Company and Mr. Solomita entered into an amendment and restatement of the employment agreement which provided for a long-term incentive grant of 4,000,000 shares of the Company’s common stock, in tranches of one million shares each, upon the achievement of four performance milestones. This was modified to provide a grant of 4,000,000 restricted stock units (“RSUs”) covering 4,000,000 shares of the Company’s common stock while the performance milestones remained the same. The grant of the restricted stock units became effective upon approval by the Company’s shareholders at the Company’s 2019 annual meeting, of an increase in the number of shares available for grant under the Plan. Such approval was granted by the Company’s shareholders at the Company’s 2019 annual meeting. On April 30, 2020, the Company and Mr. Solomita entered into an amendment of Mr. Solomita’s employment agreement. The amendment clarified the milestones consistent with the shift in the Company’s business from the production of terephthalate to the production of dimethyl terephthalate, another proven monomer of PET plastic that is simpler to purify. When a milestone becomes probable, the corresponding expense will be valued based on the grant date fair value on April 30, 2020, the date of the last modification of Mr. Solomita’s employment agreement. The closing price of the Company’s common stock on the Nasdaq on April 30, 2020 was $7.74 per share. During the six-month period ended August 31, 2022, Mr. Solomita met a performance milestone in relation to the signature of a supply agreement with a customer. Accordingly, 1,000,000 performance incentive RSUs with a fair value of $7,740 were earned and issuable to Mr. Solomita. This amount was reflected as stock-based compensation expense during the six-month period ended August 31, 2022. During the six-month period ended August 31, 2023, no outstanding performance milestones were probable of being achieved and, accordingly, the Company did not record any additional stock-based compensation expense.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Aug. 31, 2023
Stockholders' Equity
Stockholders' Equity	12. Stockholders’ Equity Common Stock For the period ended August 31, 2023 Number of shares Amount Balance, February 28, 2023 47,469,224 $ 5 Issuance of shares upon settlement of restricted stock units 51,963 - Balance, August 31, 2023 47,521,187 $ 5 For the period ended August 31, 2022 Number of shares Amount Balance, February 28, 2022 47,388,056 $ 5 Issuance of shares upon settlement of restricted stock units 12,653 - Balance, August 31, 2022 47,400,709 $ 5 During the six months ended August 31, 2023, the Company recorded the following common stock transaction: (i) The Company issued 51,963 shares of the common stock to settle restricted stock units that vested in the period. During the six months ended August 31, 2022, the Company recorded the following common stock transaction: (i) The Company issued 12,653 shares of the common stock to settle restricted stock units that vested in the period.

Research and Development Expens

Research and Development Expenses	6 Months Ended
	Aug. 31, 2023
Research and Development Expenses
Research And Development Expenses	13. Research and Development Expenses Research and development expenses for the three-month periods ended August 31, 2023 and 2022 were as follows: August 31, 2023 August 31, 2022 Employee compensation $ 1,373 $ 2,068 Machinery and equipment expenditures - 1,184 External engineering 141 611 Plant and laboratory operating expenses 447 584 Tax credits (22 ) (839 ) Other 99 143 $ 2,038 $ 3,751 Research and development expenses for the six-month periods ended August 31, 2023 and 2022 were as follows: August 31, 2023 August 31, 2022 Employee compensation $ 2,819 $ 4,355 Machinery and equipment expenditures 1,236 3,073 External engineering 1,297 2,206 Plant and laboratory operating expenses 916 1,450 Tax credits (47 ) (908 ) Other 307 376 $ 6,528 $ 10,552

General and Administrative Expe

General and Administrative Expenses	6 Months Ended
	Aug. 31, 2023
General and Administrative Expenses
General And Administrative Expenses	14. General and Administrative Expenses General and administrative expenses for the three-month periods ended August 31, 2023 and 2022 were as follows: August 31, 2023 August 31, 2022 Employee compensation $ 880 $ 1,032 Professional fees 912 1,476 Insurance 709 1,071 Other 342 432 $ 2,843 $ 4,011 General and administrative expenses for the six-month periods ended August 31, 2023 and 2022 were as follows: August 31, 2023 August 31, 2022 Employee compensation (1) $ 1,713 $ 9,817 Professional fees 1,531 2,275 Insurance 1,412 2,173 Other 652 782 $ 5,308 $ 15,047 (1) Includes stock-based compensation expense. During the six-month period ended August 31, 2022, the Company recorded a stock-based compensation expense of $7,740 related to the achievement of a performance milestone for 1,000,000 RSUs (Note 11).

Share Based Payments

Share Based Payments	6 Months Ended
	Aug. 31, 2023
Share Based Payments
Share-based Payments	15. Share-based Payments Stock Options The following tables summarizes the continuity of the Company’s stock options during the three-month periods ended August 31, 2023 and 2022: 2023 2022 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Granted - - - - Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Exercisable, end of period 1,670,000 $ 6.84 1,361,667 $ 7.73 The following tables summarizes the continuity of the Company’s stock options during the six-month periods ended August 31, 2023 and 2022: 2023 2022 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,542,000 $ 5.27 1,570,000 $ 6.87 Granted 240,000 3.11 - - Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Exercisable, end of period 1,670,000 $ 6.84 1,361,667 $ 7.73 The Company applies the fair value method of accounting for stock-based compensation awards granted. Fair value is calculated based on a Black-Scholes option pricing model. There were no new issuances of stock options for the three-month period ended August 31, 2022. The principal components of the pricing model for the stock options granted in the six-month period ended August 31, 2023 were as follows: Exercise price $ 3.11 Risk-free interest rate 3.84 % Expected dividend yield 0 % Expected volatility 79 % Expected life 3 years During the three-month periods ended August 31, 2023 and 2022, stock-based compensation expense attributable to stock options amounted to $172 and $313, respectively. During the six-month periods ended August 31, 2023 and 2022, stock-based compensation expense attributable to stock options amounted to $333 and $630, respectively. Restricted Stock Units The following table summarizes the continuity of the restricted stock units during the three-month periods ended August 31, 2023 and 2022: 2023 2022 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 4,306,655 $ 6.61 4,090,775 $ 7.37 Granted 115,364 3.17 66,744 4.05 Settled - - - - Forfeited (4,331 ) 8.21 (28,801 ) 8.68 Outstanding, end of period 4,417,688 $ 6.52 4,128,718 $ 7.31 Outstanding vested, end of period 1,635,241 $ 6.22 1,563,497 $ 6.29 The following table summarizes the continuity of the restricted stock units during the six-month periods ended August 31, 2023 and 2022: 2023 2022 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 3,888,618 $ 7.09 4,018,567 $ 7.42 Granted 585,364 2.93 151,605 5.14 Settled (51,963 ) 8.66 (12,653 ) 13.04 Forfeited (4,331 ) 8.21 (28,801 ) 8.68 Outstanding, end of period 4,417,688 $ 6.52 4,128,718 $ 7.31 Outstanding vested, end of period 1,635,241 $ 6.22 1,563,497 $ 6.29 The Company applies the fair value method of accounting for awards granted through the issuance of restricted stock units. Fair value is calculated based on the intrinsic value at grant date multiplied by the number of restricted stock unit awards granted. During the three-month periods ended August 31, 2023 and 2022, stock-based compensation attributable to RSUs amounted to $216 and $316, respectively. During the six-month periods ended August 31, 2023 and 2022, stock-based compensation attributable to RSUs amounted to $410 and $8,465, respectively. During the six-month period ended August 31, 2022, the Company recorded a stock-based compensation expense of $7,740 related to the achievement of a performance milestone for 1,000,000 RSUs (Note 11). Stock-Based Compensation Expense During the three-month periods ended August 31, 2023 and 2022, stock-based compensation included in research and development expenses amounted to $155 and $319, respectively, and in general and administrative expenses amounted to $233 and $310, respectively. During the six-month periods ended August 31, 2023 and 2022, stock-based compensation included in research and development expenses amounted to $315 and $716, respectively, and in general and administrative expenses amounted to $428 and $8,379, respectively. The amount recorded in general and administrative expenses for the six-month period ended August 31, 2022 includes $7,740 related to the achievement of a performance milestone for 1,000,000 RSUs (Note 11).

Equity Incentive Plan

Equity Incentive Plan	6 Months Ended
	Aug. 31, 2023
Equity Incentive Plan
Equity Incentive Plan	16. Equity Incentive Plan On July 6, 2017, the Company adopted the 2017 Equity Incentive Plan (the “Plan”). The Plan permits the granting of warrants, stock options, stock appreciation rights and restricted stock units to employees, directors and consultants of the Company. A total of 3,000,000 shares of common stock were initially reserved for issuance under the Plan at July 6, 2017, with annual automatic share reserve increases, as defined in the Plan, amounting to the lessor of (i) 1,500,000 shares, (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year, or (iii) or such number of shares determined by the Administrator of the Plan, effective March 1, 2018. On March 1, 2023, the share reserve was increased by 1,500,000 shares. On March 1, 2022, the Board of Directors opted to waive the annual share reserve increase. The Plan is administered by the Board of Directors who designates eligible participants to be included under the Plan, the number of awards granted, the share price pursuant to the awards and the vesting conditions and period. The awards, when granted, will have an exercise price of no less than the estimated fair value of shares at the date of grant and a life not exceeding 10 years from the grant date. However, where a participant, at the time of the grant, owns stock representing more than 10% of the voting power of the Company, the life of the options shall not exceed 5 years. The following table summarizes the continuity of the Company’s Equity Incentive Plan units that were authorized for issuance as at and during the six-month periods ended August 31, 2023 and 2022: 2023 2022 Number of units* Number of units* Authorized, beginning of period 120,486 1,043,705 Automatic share reserve increase 1,500,000 - Units granted (825,364 ) (151,605 ) Units forfeited 4,331 28,801 Units expired - - Authorized, end of period 799,453 920,901 *The use of the term “units” in the table above describes a combination of stock options and RSUs.

Warrants

Warrants	6 Months Ended
	Aug. 31, 2023
Warrants
Warrants	17. Warrants During the six-month period ended August 31, 2022, warrants to purchase 4,554,865 shares of our common stock in aggregate with an exercise price of $11.00 expired.

Commitments

Commitments	6 Months Ended
	Aug. 31, 2023
Commitments
Commitments	18. Commitments Agreement for purchase of equipment In December 2021, the Company entered into an agreement for the purchase of long-lead equipment in connection with the construction of our first Infinite Loop ™ Agreement with SK Geo Centric Co. Ltd. (“SKGC”) On April 27, 2023, the Company and SKGC entered into an agreement to build Infinite Loop manufacturing facilities in Asia. Pursuant to the agreement, the Company and SKGC agreed to form a new entity, which will be headquartered in Singapore. SKGC will contribute 51% and Loop will contribute the remaining 49% of the initial equity capital of the new entity. The Company’s investment in the new entity will be accounted for under the equity method and initially recognized at cost. To date, no amounts have been contributed by the Company to the new entity.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 31, 2023
Use Of Estimates	The preparation of financial statements in conformity with US GAAP requires management to use its judgment to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include the going concern assessment, estimates for depreciable lives of property, plant and equipment and intangible assets, recoverability of tax credits receivable, assumptions made in calculating the fair value of stock-based compensation and other equity instruments, and the assessment of performance conditions for stock-based compensation awards.
Net Earnings (loss) Per Share	The Company computes net loss per share in accordance with FASB ASC 260, Earnings Per Share For the three- and six-month periods ended August 31, 2023 and 2022, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at August 31, 2023, the potentially dilutive securities consisted of 2,782,000 outstanding stock options (2022 – 1,570,000), 4,417,688 outstanding restricted stock units (2022 – 4,128,718), and 7,089,400 outstanding warrants (2022 – 7,104,553).
Investissement Quebec Financing Facility [Member]
Liquidity Risk Assessment	Since its inception, the Company has been in the pre-commercialization stage with limited revenues from customers, and its ongoing operations and commercialization plans have been financed primarily by raising equity. The Company has incurred net losses and negative cash flow from operating and investing activities since its inception and expects to incur additional net losses while it continues to develop and plan for commercialization. As at August 31, 2023, the Company’s available liquidity was $15,952, consisting of cash and cash equivalents of $13,365 and an undrawn senior loan facility from a Canadian bank of $2,587. Management actively monitors the Company’s cash resources against the Company’s short-term cash commitments to ensure the Company has sufficient liquidity to fund its costs for at least twelve months from the financial statement issuance date. Management evaluates the Company’s liquidity to determine if there is substantial doubt about the Company’s ability to continue as a going concern. In preparing this liquidity assessment, management applies significant judgment in estimating future cash flow requirements of the Company based on budgets and forecasts, which includes developing assumptions related to: (i) estimation of amount and timing of future cash outflows and inflows and (ii) determining what future expenditures are committed and what could be considered discretionary. Based on this assessment, management believes that the Company will be able to realize its assets and discharge its liabilities in the normal course of operations as they become due for a period of no less than twelve months from the date of issuance of these unaudited interim condensed consolidated financial statements. The Company’s ability to move to the next stage of its strategic development and construct manufacturing plants is dependent on whether the Company can obtain the necessary financing through a combination of the issuance of debt, equity, and/or joint ventures, and/or government incentive programs, and/or customers. However, there is no assurance that the Company will be successful in attracting additional funding. Even if additional financing is available, it may not be available on terms favorable to the Company. Failure to secure additional financing on favorable terms when it becomes required would have an adverse effect on the Company’s financial position and on its ability to execute its business plan.

Sales Tax Tax Credits and Oth_2

Sales Tax Tax Credits and Other Receivables (Tables)	6 Months Ended
	Aug. 31, 2023
Sales Tax Tax Credits and Other Receivables
Schdule of Sales tax, tax credits and other receivables	August 31, 2023 February 28, 2023 Sales tax $ 148 $ 170 Investment tax credits 461 461 Research and development tax credits 454 402 Other receivables 132 42 $ 1,195 $ 1,075

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Aug. 31, 2023
Inventories
Inventories	August 31, 2023 February 28, 2023 Finished goods $ 561 $ 242 Work in process 305 467 Raw materials 39 18 $ 905 $ 727

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	6 Months Ended
	Aug. 31, 2023
Property Plant and Equipment
Property, Plant And Equipment	As at August 31, 2023 Cost Accumulated depreciation, write- down and impairment Net book value Building $ 1,832 $ (341 ) $ 1,491 Land 226 - 226 Building and Land Improvements 1,850 (1,331 ) 519 Office equipment and furniture 276 (152 ) 124 $ 4,184 $ (1,824 ) $ 2,360 As at February 28, 2023 Cost Accumulated depreciation, write- down and impairment Net book value Building $ 1,822 $ (309 ) $ 1,513 Land 225 - 225 Building and Land Improvements 1,839 (1,166 ) 673 Office equipment and furniture 274 (140 ) 134 $ 4,160 $ (1,615 ) $ 2,545

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Aug. 31, 2023
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Fair Value as at August 31, 2023 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,326 $ 3,301 Level 2 Fair Value as at February 28, 2023 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,302 $ 3,280 Level 2

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Aug. 31, 2023
Accounts Payable and Accrued Liabilities
Schdule of Accounts Payable And Accrued Liabilities	August 31, 2023 February 28, 2023 Trade accounts payable $ 283 $ 1,020 Accrued employee compensation 863 712 Accrued professional fees 556 410 Accrued insurance premiums 171 70 Accrued engineering fees 20 96 Other accrued liabilities 105 202 $ 1,998 $ 2,510

LongTerm Debt (Tables)

LongTerm Debt (Tables)	6 Months Ended
	Aug. 31, 2023
LongTerm Debt (Tables)
Schdule of Long-term Debt	August 31, 2023 February 28, 2023 Investissement Québec financing facility: Principal amount $ 3,381 $ 3,380 Unamortized discount (227 ) (261 ) Accrued interest 172 183 Total Investissement Québec financing facility 3,326 3,302 Less: current portion of long-term debt (356 ) (62 ) Long-term debt, net of current portion $ 2,970 $ 3,240
Principal Repayments	Years ending Amount February 29, 2024 $ 32 February 28, 2025 587 February 28, 2026 587 February 28, 2027 587 February 29, 2028 587 Thereafter 1,173 Total $ 3,553

Stockholders Equity (Tables)

Stockholders Equity (Tables)	6 Months Ended
	Aug. 31, 2023
Stockholders Equity Abstract
Common Stock	For the period ended August 31, 2023 Number of shares Amount Balance, February 28, 2023 47,469,224 $ 5 Issuance of shares upon settlement of restricted stock units 51,963 - Balance, August 31, 2023 47,521,187 $ 5 For the period ended August 31, 2022 Number of shares Amount Balance, February 28, 2022 47,388,056 $ 5 Issuance of shares upon settlement of restricted stock units 12,653 - Balance, August 31, 2022 47,400,709 $ 5

Research and Development Expe_2

Research and Development Expenses (Tables)	6 Months Ended
	Aug. 31, 2023
Research and Development Expenses
Research And Development Expenses	August 31, 2023 August 31, 2022 Employee compensation $ 1,373 $ 2,068 Machinery and equipment expenditures - 1,184 External engineering 141 611 Plant and laboratory operating expenses 447 584 Tax credits (22 ) (839 ) Other 99 143 $ 2,038 $ 3,751 August 31, 2023 August 31, 2022 Employee compensation $ 2,819 $ 4,355 Machinery and equipment expenditures 1,236 3,073 External engineering 1,297 2,206 Plant and laboratory operating expenses 916 1,450 Tax credits (47 ) (908 ) Other 307 376 $ 6,528 $ 10,552

General and Administrative Ex_2

General and Administrative Expenses (Tables)	6 Months Ended
	Aug. 31, 2023
General and Administrative Expenses
General And Administrative Expenses	August 31, 2023 August 31, 2022 Employee compensation $ 880 $ 1,032 Professional fees 912 1,476 Insurance 709 1,071 Other 342 432 $ 2,843 $ 4,011 August 31, 2023 August 31, 2022 Employee compensation (1) $ 1,713 $ 9,817 Professional fees 1,531 2,275 Insurance 1,412 2,173 Other 652 782 $ 5,308 $ 15,047

Share based Payments (Tables)

Share based Payments (Tables)	6 Months Ended
	Aug. 31, 2023
Share based Payments (Tables)
Schdule of Stock Options Activity	2023 2022 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Granted - - - - Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Exercisable, end of period 1,670,000 $ 6.84 1,361,667 $ 7.73 2023 2022 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,542,000 $ 5.27 1,570,000 $ 6.87 Granted 240,000 3.11 - - Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,782,000 $ 5.08 1,570,000 $ 6.87 Exercisable, end of period 1,670,000 $ 6.84 1,361,667 $ 7.73
Principle components of the pricing model of stock option activity	Exercise price $ 3.11 Risk-free interest rate 3.84 % Expected dividend yield 0 % Expected volatility 79 % Expected life 3 years
Schdule of restricted stock units	2023 2022 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 4,306,655 $ 6.61 4,090,775 $ 7.37 Granted 115,364 3.17 66,744 4.05 Settled - - - - Forfeited (4,331 ) 8.21 (28,801 ) 8.68 Outstanding, end of period 4,417,688 $ 6.52 4,128,718 $ 7.31 Outstanding vested, end of period 1,635,241 $ 6.22 1,563,497 $ 6.29 2023 2022 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 3,888,618 $ 7.09 4,018,567 $ 7.42 Granted 585,364 2.93 151,605 5.14 Settled (51,963 ) 8.66 (12,653 ) 13.04 Forfeited (4,331 ) 8.21 (28,801 ) 8.68 Outstanding, end of period 4,417,688 $ 6.52 4,128,718 $ 7.31 Outstanding vested, end of period 1,635,241 $ 6.22 1,563,497 $ 6.29

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	6 Months Ended
	Aug. 31, 2023
Equity Incentive Plan
Equity Incentive Plan	2023 2022 Number of units* Number of units* Authorized, beginning of period 120,486 1,043,705 Automatic share reserve increase 1,500,000 - Units granted (825,364 ) (151,605 ) Units forfeited 4,331 28,801 Units expired - - Authorized, end of period 799,453 920,901

The Company and Basis of Pres_2

The Company and Basis of Presentation (Details Narrative)	Feb. 28, 2023
Common Stock [Member]
Ownership, Percentage	50%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Available Liquidity	$ 159,520
Cash and cash equivalents	133,650
Loan facility	$ 25,870
Note Warrant [Member]
Dilutive Securities	7,089,400	7,104,553
Restricted Stock Units [Member]
Dilutive Securities	4,417,688	4,128,718
Stock Option [Member]
Dilutive Securities	2,782,000	1,570,000

Sales Tax Tax Credits and Oth_3

Sales Tax Tax Credits and Other Receivables (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Sales Tax Tax Credits and Other Receivables
Sales Tax	$ 148	$ 170
Investment tax credits	461	461
Research And Development Tax Credits	454	402
Other Receivables	132	42
Total	$ 1,195	$ 1,075

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Inventories
Finished goods	$ 561	$ 242
Work in process	305	467
Raw materials	39	18
Inventory net	$ 905	$ 727

Deposits and Prepaid Expenses (

Deposits and Prepaid Expenses (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Deposits and Prepaid Expenses
Non-refundable cash deposits on long-lead equipment	$ 8,460	$ 3,395
Prepaid expenses	$ 115,000	$ 636,000

Property Plant and Equipment (D

Property Plant and Equipment (Details) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Property, Plant And Equipment, Gross	$ 4,184,000	$ 4,160,000
Less: Accumulated Depreciation, Write-down And Impairment	(1,824,000)	(1,615,000)
Property, Plant And Equipment, Net	2,360,000	2,545,000
Building [Member]
Property, Plant And Equipment, Gross	1,832,000	1,822,000
Less: Accumulated Depreciation, Write-down And Impairment	(341,000)	(309,000)
Property, Plant And Equipment, Net	1,491,000	1,513,000
Land [Member]
Property, Plant And Equipment, Gross	226,000	225,000
Less: Accumulated Depreciation, Write-down And Impairment	0	0
Property, Plant And Equipment, Net	226,000	225,000
Building And Land Improvements [Member]
Property, Plant And Equipment, Gross	1,850,000	1,839,000
Less: Accumulated Depreciation, Write-down And Impairment	(1,331,000)	(1,166,000)
Property, Plant And Equipment, Net	519,000	673,000
Office Equipment and Furniture [Member]
Property, Plant And Equipment, Gross	276,000	274,000
Less: Accumulated Depreciation, Write-down And Impairment	(152,000)	(140,000)
Property, Plant And Equipment, Net	$ 124,000	$ 134,000

Property Plant and Equipment _2

Property Plant and Equipment (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Property Plant and Equipment
Depreciation Expense	$ 101	$ 201	$ 117	$ 237

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023
Intangible Assets
Intangible assets	$ 1,375		$ 1,375		$ 1,210
Additions to intangible assets			225	$ 141
Amortization expense	$ 35	$ 67	$ 21	$ 40

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Long-term Debt [Member] - Level 2 [Member] - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Carrying Amount	$ 3,326	$ 3,302
Fair Value	$ 3,301	$ 3,280

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Accounts Payable and Accrued Liabilities
Trade Accounts Payable	$ 283	$ 1,020
Accrued Employee Compensation	863	712
Accrued Professional Fees	556	410
Accrued insurance premiums	171	70
Accrued Engineering Fees	20	96
Other Accrued Liabilities	105	202
Accounts Payable And Accrued Liabilities	$ 1,998	$ 2,510

LongTerm Debt (Details)

LongTerm Debt (Details) - USD ($) $ in Thousands	Aug. 31, 2023	Feb. 28, 2023
Principal Amount	$ 3,553
Less: Current Portion	(356)	$ (62)
Long-term Debt, Net Of Current Portion	2,970	3,240
Investissement Quebec Financing Facility [Member]
Principal Amount	3,381	3,380
Unamortized Discount	(227)	(261)
Accrued Interest	172	183
Total Investissement Qu?bec financing facility	3,326	3,302
Less: Current Portion	(356)	(62)
Long-term Debt, Net Of Current Portion	$ 2,970	$ 3,240

LongTerm Debt (Details 1)

LongTerm Debt (Details 1) $ in Thousands	Aug. 31, 2023 USD ($)
LongTerm Debt (Tables)
February 29, 2024	$ 32
February 28, 2025	587
February 28, 2026	587
February 28, 2027	587
February 29, 2028	587
Thereafter	1,173
Total	$ 3,553

LongTerm Debt (Details Narrativ

LongTerm Debt (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 26, 2022	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Borrowings	$ 2,587,000
Annual interest rate	1%
Investissement Quebec Financing Facility [Member]
Interest Expense		$ 22,000	$ 22,000	$ 43,000	$ 44,000
Accretion Expense		$ 18,000	$ 18,000	36,000	35,000
Repayments amount				$ 32,000	$ 0

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Jul. 13, 2018	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022	Apr. 30, 2020
Unvested Restricted Stock Units Forfeited					1,000,000
Common Stock With A Fair Value					$ 7,740
Long-term incentive grant shares	4,000,000
Shares Granted		0	0	240,000
President and Chief Executive Officers [Member]
Shares Granted	4,000,000
Closing Price Per Share						$ 7.74
President and Chief Executive Officer [Member] | Restricted Stock Units [Member]
Shares Granted	4,000,000

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Balance, amount	$ 33,736	$ 45,995
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	51,963	12,653
Balance, amount	$ 22,832	$ 28,962
Common Stock [Member]
Balance, amount	$ 5	$ 5
Balance, shares	47,469,224	47,388,056
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	51,963	12,653
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Amount	$ 0	$ 0
Balance, shares	47,521,187	47,400,709
Balance, amount	$ 5	$ 5

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative) - shares shares in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Stockholders Equity Abstract
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	51,963	12,653

Research and Development Expe_3

Research and Development Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Research and Development Expenses	$ 2,038	$ 3,751	$ 6,528	$ 10,552
Research and Development Expenses	(2,038)	(3,751)	(6,528)	(10,552)
Employee Compensation R & D [Member]
Research and Development Expenses	1,373	2,068	2,819	4,355
Research and Development Expenses	(1,373)	(2,068)	(2,819)	(4,355)
Machinery and Equipments [Member]
Research and Development Expenses	0	1,184	1,236	3,073
Research and Development Expenses	0	(1,184)	(1,236)	(3,073)
External Engineering [Member]
Research and Development Expenses	141	611	1,297	2,206
Research and Development Expenses	(141)	(611)	(1,297)	(2,206)
Plant and Laboratory Operating Expenses [Member]
Research and Development Expenses	447	584	916	1,450
Research and Development Expenses	(447)	(584)	(916)	(1,450)
Other [Member]
Research and Development Expenses	99	143	307	376
Research and Development Expenses	(99)	(143)	(307)	(376)
Tax Credits [Member]
Research and Development Expenses	22	839	47	908
Research and Development Expenses	$ (22)	$ (839)	$ (47)	$ (908)

General and Administrative Ex_3

General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
General and administrative expenses	$ 2,843	$ 4,011	$ 5,308	$ 15,047
Employee Compensation [Member]
General and administrative expenses	880	1,032	1,713	9,817
Insurance [Member]
General and administrative expenses	709	1,071	1,412	2,173
Professional Fees [Member]
General and administrative expenses	912	1,476	1,531	2,275
Other (Member)
General and administrative expenses	$ 342	$ 432	$ 652	$ 782

General and Administrative Ex_4

General and Administrative Expenses (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Net Reversal Of Stock-based Compensation	$ 743	$ 9,095
Restricted Stock Units [Member]
Net Reversal Of Stock-based Compensation	$ 7,740
RSU shares	1,000,000

ShareBased Payments (Details)

ShareBased Payments (Details) - $ / shares	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Share Based Payments
Number Of Options Outstanding, Beginning	2,782,000	1,570,000	2,542,000	1,570,000
Number Of Options, Granted	0	0	240,000
Number Of Options Outstanding, Ending	2,782,000	1,570,000	2,782,000	1,570,000
Exercisable, End Of Year	1,670,000	1,361,667	1,670,000	1,361,667
Weighted Average Exercise Price Outstanding, Beginning	$ 5.08	$ 6.87	$ 5.27	$ 6.87
Weighted Average Exercise Price, Granted	0	0	3.11	0
Weighted Average Exercise Price, Exercised	0	0	0	0
Weighted Average Exercise Price, Forfeited	0	0	0	0
Weighted Average Exercise Price, Expired	0	0	0	0
Weighted Average Outstanding, End Of Year	5.08	6.87	5.08	6.87
Weighted Average Exercisable Price Outstanding, Ending	$ 6.84	$ 7.73	$ 6.84	$ 7.73

ShareBased Payments (Details 1)

ShareBased Payments (Details 1)	6 Months Ended
	Aug. 31, 2023 USD ($) $ / shares
Share Based Payments
Expected dividend yield | $	$ 0
Exercise price | $ / shares	$ 3.11
Risk-free interest rate	3.84%
Expected life	3 years
Expected volatility	79%

ShareBased Payments (Details 2)

ShareBased Payments (Details 2) - Restricted Stock Units [Member] - $ / shares	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Number Of Units Outstanding, Beginning	4,306,655	4,090,775	3,888,618	4,018,567
Number Of Units, Granted	115,364	66,744	585,364	151,605
Number of Units, Settled			51,963	12,653
Number of Units, Forfeited	(4,331)	(28,801)	(4,331)	(28,801)
Number Of Units Outstanding, Ending	4,417,688	4,128,718	4,417,688	4,128,718
Number Of Units Outstanding Vested, Ending	1,635,241	1,563,497	1,635,241	1,563,497
Weighted Average Exercise Price Outstanding, Beginning	$ 6.61	$ 7.37	$ 7.09	$ 7.42
Weighted Average Exercise Price, Granted	3.17	4.05	2.93	5.14
Weighted Average Exercise Price, Settled	0	0	8.66	13.04
Weighted Average Exercise Price, Forfeited	8.21	8.68	8.21	8.68
Weighted Average Exercise Price Outstanding, Ending	6.52	7.31	6.52	7.31
Weighted Average Exercise Price Outstanding Vested, Ending	$ 6.22	$ 6.29	$ 6.22	$ 6.29

ShareBased Payments (Details Na

ShareBased Payments (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Stock-based Compensation Expense Attributable To Stock Options	$ 172	$ 313	$ 333	$ 630
Stock-based Compensation Attributable To Rsus	216	316	$ 410	8,465
Number Of Units, Granted			1,000,000
Achievement of performance milestone			$ 7,740
General and Administrative Expenses [Member]
Number Of Units, Granted			1,000,000
Stock-based Compensation Expense	428	8,379	$ 233	310
Achievement of performance milestone			7,740
Research and Development Expenses [Member]
Stock-based Compensation Expense	$ 155	$ 319	$ 315	$ 716

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - Equity Incentive Plan [Member[ - shares	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Number Of Units Authorized, Beginning	120,486	1,043,705
Automatic share reserve increase	1,500,000
Units Granted	(825,364)	(151,605)
Units forfeited	4,331	28,801
Number Of Units Authorized, Ending	799,453	920,901

Equity Incentive Plan (Details

Equity Incentive Plan (Details Narrative) - shares		6 Months Ended
	Jul. 06, 2017	Aug. 31, 2023	Mar. 01, 2023
Expected Life		3 years
2017 Equity Incentive Plan [Member]
Common Stock Shares Reserved For Future Issuance	3,000,000
Common Stock Shares Reserved For Future Issuance Annual Increase	1,500,000		1,500,000
Expected Life		10 years
Voting Power Percentage		10
Life Of Option		5 years
Common Stock Outstanding Shares Percentage	5%

Warrants (Details Narrative)

Warrants (Details Narrative) shares in Thousands	6 Months Ended
	Aug. 31, 2022 $ / shares shares
Warrants
Purchase shares of common stock | shares	4,554,865
Common stock exercise price | $ / shares	$ 11

Commitments (Details Narrative)

Commitments (Details Narrative) - USD ($) $ in Thousands	Apr. 27, 2023	Dec. 31, 2021
Purchase Of Long Lead Machinery		$ 8,546
Cash Deposit		$ 8,460
Loop Industries [Member]
Ownership, Percentage	49%
SK Geo Centric Ltd [Member]
Ownership, Percentage	51%