Loop Industries (LOOP) 10-Q 15 Jul 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	May 31, 2024	Jul. 12, 2024
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	--02-29
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	May 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Common Stock Shares Outstanding		47,538,745
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-38301
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	27-2094706
Entity Address Address Line 1	480 Fernand-Poitras Terrebonne
Entity Address Address Line 2	Terrebonne
Entity Address City Or Town	Québec
Entity Address Country	CA
Entity Address Postal Zip Code	J6Y 1Y4
City Area Code	450
Local Phone Number	951-8555
Security 12b Title	Common stock, par value $0.0001 per share
Trading Symbol	LOOP
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Current assets
Cash and cash equivalents	$ 5,291	$ 6,958
Sales tax, tax credits and other receivables (Note 3)	242	351
Inventories (Note 4)	99	102
Prepaid expenses and other deposits (Note 5)	525	577
Total current assets	6,157	7,988
Investment in joint venture	381	381
Property, plant and equipment, net (Note 6)	10,533	10,636
Intangible assets, net (Note 7)	1,671	1,548
Total assets	18,742	20,553
Current liabilities
Accounts payable and accrued liabilities (Note 9)	2,891	2,321
Current portion of long-term debt (Note 10)	244	100
Total current liabilities	3,135	2,421
Due to customer	784	770
Long-term debt (Note 10)	5,555	3,220
Total liabilities	9,474	6,411
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; 47,538,745 shares issued and outstanding (February 29, 2024 - 47,528,908) (Note 11)	5	5
Additional paid-in capital	172,162	171,792
Additional paid-in capital - Warrants	20,385	20,385
Accumulated deficit	(182,159)	(176,970)
Accumulated other comprehensive loss	(1,125)	(1,070)
Total stockholders' equity	9,268	14,142
Total liabilities and stockholders' equity	$ 18,742	$ 20,553

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	May 31, 2024	Feb. 29, 2024
Stockholders' Equity
Series A preferred stock, par value	$ 0.0001	$ 0.0001
Series A preferred stock, share authorized	25,000,000	25,000,000
Series A preferred stock, share issued	1	1
Series A preferred stock, share outstanding	1	1
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	47,538,745	47,528,908
Common stock, shares outstanding	47,538,745	47,528,908

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Revenue from contracts with customers	$ 6	$ 27
Expenses :
Research and development (Note 12)	2,237	4,490
General and administrative (Note 13)	2,911	2,465
Depreciation and amortization (Notes 6 and 7)	137	133
Total expenses	5,285	7,088
Other (income) loss :
Interest and other financial expenses	60	54
Interest income	(126)	(99)
Foreign exchange gain	(24)	(15)
Total other income	(90)	(60)
Net loss	(5,189)	(7,001)
Foreign currency translation adjustment	(55)	20
Comprehensive loss	$ (5,244)	$ (6,981)
Net loss per share
Basic and diluted	$ (0.11)	$ (0.15)
Weighted average common shares outstanding
Basic and diluted	47,535,413	47,516,104

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Additional Paid-in Capital - Warrants	Accumulated Deficit	Accumulated other comprehensive Income (Loss)
Balance, shares at Feb. 28, 2023		1	47,469,224
Balance, amount at Feb. 28, 2023	$ 33,736,000	$ 0	$ 5,000	$ 170,370,000	$ 20,385,000	$ (155,883,000)	$ (1,141,000)
Issuance of shares upon the vesting of restricted stock units (Note 14), shares			51,963
Issuance of shares upon the vesting of restricted stock units (Note 14), amount	0	0	$ 0	0	0	0	0
Stock options issued for services (Note 14)	162,000	0	0	162,000	0	0	0
Restricted stock units issued for services (Note 14)	193,000	0	0	193,000	0	0	0
Foreign currency translation	20,000	0	0	0	0	0	20,000
Net loss	(7,001,000)	$ 0	$ 0	0	0	(7,001,000)	0
Balance, shares at May. 31, 2023		1	47,521,187
Balance, amount at May. 31, 2023	27,110,000	$ 0	$ 5,000	170,725,000	20,385,000	(162,884,000)	(1,121,000)
Balance, shares at Feb. 29, 2024		1	47,528,908
Balance, amount at Feb. 29, 2024	14,142,000	$ 0	$ 5,000	171,792,000	20,385,000	(176,970,000)	(1,070,000)
Issuance of shares upon the vesting of restricted stock units (Note 14), shares			9,837
Issuance of shares upon the vesting of restricted stock units (Note 14), amount	0	0	$ 0	0	0	0	0
Stock options issued for services (Note 14)	146,000	0	0	146,000	0	0	0
Restricted stock units issued for services (Note 14)	224,000	0	0	224,000	0	0	0
Foreign currency translation	(55,000)	$ 0	0	0	0	0	(55,000)
Net loss	(5,189,000)		$ 0	0	0	(5,189,000)	0
Balance, shares at May. 31, 2024		1	47,538,745
Balance, amount at May. 31, 2024	$ 9,268,000	$ 0	$ 5,000	$ 172,162,000	$ 20,385,000	$ (182,159,000)	$ (1,125,000)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Cash Flows from Operating Activities
Net loss	$ (5,189,000)	$ (7,001,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization (Notes 6 and 7)	137,000	133,000
Stock-based compensation expense (Note 14)	370,000	355,000
Accretion expense (Note 10)	28,000	17,000
Changes in operating assets and liabilities:
Sales tax and tax credits receivable (Note 3)	108,000	(83,000)
Inventories (Note 4)	3,000	(144,000)
Prepaid expenses (Note 5)	51,000	(90,000)
Accounts payable and accrued liabilities (Note 9)	577,000	1,321,000
Customer deposits	0	(12,000)
Net cash used in operating activities	(3,915,000)	(5,504,000)
Cash Flows from Investing Activities
Deposits on machinery and equipment	0	(2,023,000)
Additions to intangible assets (Note 7)	(176,000)	(99,000)
Net cash used in investing activities	(176,000)	(2,122,000)
Cash Flows from Financing Activities
Borrowings under credit facility (Note 10)	2,517,000	0
Repayment of long-term debt (Note 10)	(25,000)	(16,000)
Net cash (used) provided by financing activities	2,492,000	(16,000)
Effect of exchange rate changes	(68,000)	21,000
Net decrease in cash	(1,667,000)	(7,621,000)
Cash, cash equivalents and restricted cash, beginning of period	6,958,000	30,591,000
Cash, cash equivalents and restricted cash, end of period	5,291,000	22,970,000
Supplemental Disclosure of Cash Flow Information:
Income tax paid	0	0
Interest paid	42,000	21,000
Interest received	$ 195,000	$ 99,000

The Company, Basis of Presentat

The Company, Basis of Presentation and Going Concern	3 Months Ended
	May 31, 2024
The Company, Basis of Presentation and Going Concern
The Company, Basis of Presentation and Going Concern	1. The Company, Basis of Presentation and Going Concern 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 ™ 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 29, 2024, filed with the SEC on May 29, 2024. 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 29, 2024, 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 months ended May 31, 2024 are not necessarily indicative of the results to be expected for any subsequent quarter, for the fiscal year ending February 28, 2025, or for any other period. 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. Going Concern These unaudited interim condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplate the realization of assets and settlement of liabilities in the normal course of business as they come due. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but not limited to, twelve months from the date of issuance of these consolidated financial statements. Since its inception, the Company has been in the pre-commercialization stage with no material revenues from customers, and its ongoing operations and commercialization plans have been financed primarily by raising equity and debt. Therefore, 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 May 31, 2024, the Company’s balance of cash and cash equivalents was $5,291. Management continuously monitors the Company’s cash resources against its short-term cash commitments to ensure there is 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 its ability to continue as a going concern. In preparing this going concern 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 the estimation of amount and timing of future cash outflows and inflows. Based on its assessment, management estimates that current available liquidity and forecasted net cash flows will not be sufficient to meet the Company’s obligations, commitments and budgeted expenditures the next twelve months from the unaudited interim condensed consolidated financial statements issuance date. These events and conditions are material uncertainties that raise substantial doubt upon the Company’s ability to continue as a going concern and accordingly, the appropriateness of the use of accounting principles applicable to a going concern. The Company’s ability to move to the next stage of its strategic development and construct manufacturing plants is dependent on, among other factors, 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. The Company is seeking to finalize the negotiation of previously announced financing initiatives on acceptable terms (see Note 16 for additional details), however, there is no assurance it will succeed. These unaudited interim condensed consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and balance sheet classifications that would be necessary if the Company were unable to realize its assets and settle its liabilities as a going concern in the normal course of operations. Such adjustments could be material.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	May 31, 2024
Summary of Significant Accounting Policies
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies 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, the net realizable value of inventories, 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-month periods ended May 31, 2024 and 2023, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at May 31, 2024, the potentially dilutive securities consisted of 2,971,216 outstanding stock options (2023 – 2,782,000), 4,399,060 outstanding restricted stock units (2023 – 4,306,655), and 7,089,400 outstanding warrants (2023 – 7,089,400). Recently issued accounting pronouncements not yet adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information and includes certain other amendments to improve the effectiveness of income tax disclosures. The updated standard is effective for our annual periods beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in our notes to the consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures.

Sales Tax Tax Credits and Other

Sales Tax Tax Credits and Other Receivables	3 Months Ended
	May 31, 2024
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 May 31, 2024 and February 29, 2024 were as follows: May 31, 2024 February 29, 2024 Sales tax $ 89 $ 75 Research and development tax credits 145 160 Interest income receivable - 70 Other receivables 8 46 $ 242 $ 351

Inventories

Inventories	3 Months Ended
	May 31, 2024
Inventories
Inventories	4. Inventories Inventories as at May 31, 2024 and February 29, 2024 were as follows: May 31, 2024 February 29, 2024 Finished goods $ 549 $ 552 Work in process 322 333 Raw materials 31 34 Allowance for inventory write-down (803 ) (817 ) $ 99 $ 102 As at May 31, 2024 and February 29, 2024, 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	3 Months Ended
	May 31, 2024
Deposits and Prepaid Expenses
Deposits and Prepaid Expenses	5. Deposits and Prepaid Expenses Prepaid expenses and other deposits as at May 31, 2024 and February 29, 2024 were as follows: May 31, 2024 February 29, 2024 Insurance $ 399 $ 449 Other 126 128 $ 525 $ 577

Property Plant and Equipment

Property Plant and Equipment	3 Months Ended
	May 31, 2024
Property Plant and Equipment
Property, Plant And Equipment	6. Property, Plant and Equipment As at May 31, 2024 Cost Accumulated depreciation, write-down and impairment Net book value Machinery and equipment (1) $ 8,460 $ - $ 8,460 Building 1,818 (385 ) 1,433 Land 225 - 225 Building and Land Improvements 1,844 (1,535 ) 309 Office equipment and furniture 273 (167 ) 106 $ 12,620 (2,087 ) 10,533 (1) The equipment, which is being held in storage with the intention to be used in a commercial facility, is presented in machinery and equipment at cost and is currently not being amortized. As at February 29, 2024 Cost Accumulated depreciation, write-down and impairment Net book value Machinery and equipment $ 8,460 $ - $ 8,460 Building 1,827 (371 ) 1,456 Land 226 - 226 Building and Land Improvements 1,853 (1,472 ) 381 Office equipment and furniture 275 (162 ) 113 $ 12,641 $ (2,005 ) $ 10,636 Depreciation expense amounted to $91 for the three-month period ended May 31, 2024 (2023 – $101).

Intangible Assets

Intangible Assets	3 Months Ended
	May 31, 2024
Intangible Assets
Intangible Assets	7. Intangible Assets Intangible assets as at May 31, 2024 and February 29, 2024 were $1,671 and $1,548, respectively. During the three-month periods ended May 31, 2024 and 2023, we made additions relating to patent application costs to intangible assets of $176 and $99, respectively. Amortization expense for the three-month period ended May 31, 2024 amounted to $46 (2023 – $32).

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	May 31, 2024
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 May 31, 2024 and February 29, 2024: Fair Value at May 31, 2024 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 5,799 $ 5,862 Level 2 Due to customer $ 784 $ 784 Level 2 Fair Value at February 29, 2024 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,320 $ 3,377 Level 2 Due to customer $ 770 $ 770 Level 2 The fair value of cash, restricted cash, due to customer, 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	3 Months Ended
	May 31, 2024
Accounts Payable and Accrued Liabilities
Accounts Payable And Accrued Liabilities	9. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities as at May 31, 2024 and February 29, 2024 were as follows: May 31, 2024 February 29, 2024 Trade accounts payable $ 1,466 $ 602 Accrued employee compensation 546 801 Accrued engineering fees - 511 Accrued professional fees 706 274 Other accrued liabilities 173 133 $ 2,891 $ 2,321

Long Term Debt

Long Term Debt	3 Months Ended
	May 31, 2024
Long Term Debt
Long-term Debt	10. Long‑Term Debt Long-term debt as of May 31, 2024 and February 29, 2024, was comprised of the following: May 31, 2024 February 29, 2024 Investissement Québec financing facility: Principal amount $ 3,318 $ 3,353 Unamortized discount (187 ) (191 ) Accrued interest 151 158 Total Investissement Québec financing facility 3,282 3,320 Less: current portion of long-term debt (244 ) (100 ) 3,038 3,220 Credit facility 2,517 - Long-term debt, net of current portion $ 5,555 $ 3,220 Investissement Québec financing facility The Company recorded interest expense on the Investissement Québec loan for the three-month period ended May 31, 2024 in the amount of $30 (2023 – $21) and an accretion expense of $14 (2023 – $17). During the three-month period ended May 31, 2024, the Company made repayments of $25 (2023 – $16) on the Investissement Québec loan. 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 $2,567 in aggregate principal amount and provides for a two-year term on amounts drawn. 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 May 31, 2024. All borrowings under the Credit Facility bear interest at an annual rate equal to the bank’s Canadian prime rate plus 1.0%. As at May 31, 2024, the Company borrowed $2,517 under the Credit Facility. Total repayments due on the Company’s indebtedness over the next five years are as follows: Years ending Amount February 28, 2025 $ 74 February 28, 2026 679 February 28, 2027 3,196 February 29, 2028 679 February 28, 2029 679 Thereafter 679 Total $ 5,986

Stockholders Equity

Stockholders Equity	3 Months Ended
	May 31, 2024
Stockholders Equity
Stockholders' Equity	11. Stockholders’ Equity Common Stock For the period ended May 31, 2024 Number of shares Amount Balance, February 29, 2024 47,528,908 $ 5 Issuance of shares upon settlement of restricted stock units 9,837 - Balance, May 31, 2024 47,538,745 $ 5 For the period ended May 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, May 31, 2023 47,521,187 $ 5 During the three months ended May 31, 2024, the Company recorded the following common stock transaction: (i) The Company issued 9,837 shares of the common stock to settle restricted stock units that vested in the period. During the three months ended May 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.

Research and Development Expens

Research and Development Expenses	3 Months Ended
	May 31, 2024
Research and Development Expenses
Research And Development Expenses	12. Research and Development Expenses Research and development expenses for the three-month periods ended May 31, 2024 and 2023 were as follows: May 31, 2024 May 31, 2023 Employee compensation $ 1,144 $ 1,446 Machinery and equipment expenditures 3 1,236 External engineering 628 1,155 Plant and laboratory operating expenses 270 469 Other 192 184 $ 2,237 $ 4,490

General and Administrative Expe

General and Administrative Expenses	3 Months Ended
	May 31, 2024
General and Administrative Expenses
General And Administrative Expenses	13. General and Administrative Expenses General and administrative expenses for the three-month periods ended May 31, 2024 and 2023 were as follows: May 31, 2024 May 31, 2023 Employee compensation $ 876 $ 833 Insurance 492 703 Professional fees 1,255 619 Other 288 310 $ 2,911 $ 2,465

Share Based Payments

Share Based Payments	3 Months Ended
	May 31, 2024
Share Based Payments
Share-based Payments	14. Share-based Payments Stock Options The following table summarizes the continuity of the Company’s stock options during the three-month periods ended May 31, 2024 and 2023: 2024 2023 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,772,000 $ 5.10 2,542,000 $ 5.27 Granted 199,216 2.89 240,000 3.11 Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,971,216 $ 4.95 2,782,000 $ 5.08 Exercisable, end of period 1,890,000 $ 6.39 1,670,000 $ 6.84 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. The principal components of the pricing model for the stock options granted in the three-month period ended May 31, 2024 and 2023 were as follows: 2024 2023 Exercise price $ 2.89 3.11 Risk-free interest rate 4.09 % 3.84 % Expected dividend yield 0 % 0 % Expected volatility 73 % 79 % Expected life 7 years 3 years During the three-month periods ended May 31, 2024 and 2023, stock-based compensation expense attributable to stock options amounted to $146 and $162, respectively. Restricted Stock Units The following table summarizes the continuity of the restricted stock units during the three-month periods ended May 31, 2024 and 2023: 2024 2023 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 4,368,897 $ 6.53 3,888,618 $ 7.09 Granted 40,000 2.85 470,000 2.87 Settled (9,837 ) 8.31 (51,963 ) 8.66 Forfeited - - - - Outstanding, end of period 4,399,060 $ 6.49 4,306,655 $ 6.61 Outstanding vested, end of period 1,727,575 $ 6.07 1,568,497 $ 6.31 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 May 31, 2024 and 2023, stock-based compensation attributable to RSUs amounted to $224 and $193, respectively. Stock-Based Compensation Expense During the three-month periods ended May 31, 2024 and 2023, stock-based compensation included in research and development expenses amounted to $129 and $159, respectively, and in general and administrative expenses amounted to $241 and $196, respectively.

Equity Incentive Plan

Equity Incentive Plan	3 Months Ended
	May 31, 2024
Equity Incentive Plan
Equity Incentive Plan	15. 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) such number of shares determined by the Administrator of the Plan, effective March 1, 2018. On March 1, 2024, the share reserve was increased by 1,500,000 shares (2023 – 1,500,000). 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 three-month periods ended May 31, 2024 and 2023: 2024 2023 Number of units* Number of units* Authorized, beginning of period 848,244 120,486 Automatic share reserve increase 1,500,000 1,500,000 Units granted (239,216 ) (710,000 ) Units forfeited - - Units expired - - Authorized, end of period 2,109,028 910,486 *The use of the term “units” in the table above describes a combination of stock options and RSUs.

Contractual agreements

Contractual agreements	3 Months Ended
	May 31, 2024
Contractual agreements
Contractual agreements	16. Contractual agreements Agreement with Reed Management SAS (“Reed”) On May 30, 2024, the Company and Reed, a European investment firm focused on high impact and technology-enabled infrastructure, entered into definitive binding agreements, subject to certain closing conditions, for an investment of €35 million from Reed to fund the global commercialization of the Infinite Loop™ Technology and have agreed to form a 50/50 joint venture for the European deployment of Loop’s technology. Under the terms of the agreement, which has been signed following the completion by Reed of extensive operational, technical, ESG, and legal due diligence, Reed will provide capital as follows: · €10M investment in a Convertible Preferred Security to be issued by Loop, which contains a 13% PIK dividend rate and 5-year term; and · €25M loan to Loop in two equal tranches – first tranche to support global deployment opportunities paid at closing and second tranche to support European deployment opportunities paid in the following 12 months with both tranches having a 13% PIK interest rate and 3-year term; The closing of the transaction is subject to the fulfillment of certain closing conditions, principally the conditions that (i) Reed shall have successfully completed its first capital raising for its fund; and (ii) Loop shall have received a binding financing commitment from a governmental agency. Strategic partnership with Ester Industries Ltd. (“Ester”) On May 1, 2024, the Company entered into an agreement with Ester, a manufacturer of polyester films and specialty polymers in India, to form a 50/50 joint venture based in India ("India JV"). The purpose of the India JV is to build and operate an Infinite Loop ™ ™ Subject to the terms of the relevant governing documents, Ester will be the exclusive producer of specialty polymers for the India JV, and the Company will be the exclusive seller and marketing agent of the India JV’s products. Ester and the Company will work in collaboration on all financing activities for the India JV pursuant to the terms of the agreement. Pursuant to the terms of the relevant governing documents, Loop and Ester parties will endeavor to obtain debt for a minimum of 60% of the total installed cost of the Infinite Loop™ manufacturing facility in India and will each contribute 50% of the initial equity capital of the India JV. Agreement with SK Geo Centric Co. Ltd. (“SKGC”) On April 27, 2023, the Company and SKGC entered into an agreement to build Infinite Loop ™

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	May 31, 2024
Summary of Significant Accounting Policies
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, the net realizable value of inventories, 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-month periods ended May 31, 2024 and 2023, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have an antidilutive effect. As at May 31, 2024, the potentially dilutive securities consisted of 2,971,216 outstanding stock options (2023 – 2,782,000), 4,399,060 outstanding restricted stock units (2023 – 4,306,655), and 7,089,400 outstanding warrants (2023 – 7,089,400).
Recently issued accounting pronouncements not yet adopted	In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-09—Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information and includes certain other amendments to improve the effectiveness of income tax disclosures. The updated standard is effective for our annual periods beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements, other than additional disclosures in our notes to the consolidated financial statements. In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures.

Sales Tax Tax Credits and Oth_2

Sales Tax Tax Credits and Other Receivables (Tables)	3 Months Ended
	May 31, 2024
Sales Tax Tax Credits and Other Receivables
Schdule of Sales tax, tax credits and other receivables	May 31, 2024 February 29, 2024 Sales tax $ 89 $ 75 Research and development tax credits 145 160 Interest income receivable - 70 Other receivables 8 46 $ 242 $ 351

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	May 31, 2024
Inventories
Inventories	May 31, 2024 February 29, 2024 Finished goods $ 549 $ 552 Work in process 322 333 Raw materials 31 34 Allowance for inventory write-down (803 ) (817 ) $ 99 $ 102

Deposits and Prepaid Expenses (

Deposits and Prepaid Expenses (Tables)	3 Months Ended
	May 31, 2024
Deposits and Prepaid Expenses
Prepaid expenses and other deposits	May 31, 2024 February 29, 2024 Insurance $ 399 $ 449 Other 126 128 $ 525 $ 577

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	3 Months Ended
	May 31, 2024
Property Plant and Equipment
Property, Plant And Equipment	As at May 31, 2024 Cost Accumulated depreciation, write-down and impairment Net book value Machinery and equipment (1) $ 8,460 $ - $ 8,460 Building 1,818 (385 ) 1,433 Land 225 - 225 Building and Land Improvements 1,844 (1,535 ) 309 Office equipment and furniture 273 (167 ) 106 $ 12,620 (2,087 ) 10,533 As at February 29, 2024 Cost Accumulated depreciation, write-down and impairment Net book value Machinery and equipment $ 8,460 $ - $ 8,460 Building 1,827 (371 ) 1,456 Land 226 - 226 Building and Land Improvements 1,853 (1,472 ) 381 Office equipment and furniture 275 (162 ) 113 $ 12,641 $ (2,005 ) $ 10,636

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	May 31, 2024
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Fair Value at May 31, 2024 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 5,799 $ 5,862 Level 2 Due to customer $ 784 $ 784 Level 2 Fair Value at February 29, 2024 Carrying Amount Fair Value Level in the hierarchy Financial liabilities measured at amortized cost: Long-term debt $ 3,320 $ 3,377 Level 2 Due to customer $ 770 $ 770 Level 2

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	May 31, 2024
Accounts Payable and Accrued Liabilities
Schdule of Accounts Payable And Accrued Liabilities	May 31, 2024 February 29, 2024 Trade accounts payable $ 1,466 $ 602 Accrued employee compensation 546 801 Accrued engineering fees - 511 Accrued professional fees 706 274 Other accrued liabilities 173 133 $ 2,891 $ 2,321

LongTerm Debt (Tables)

LongTerm Debt (Tables)	3 Months Ended
	May 31, 2024
LongTerm Debt (Tables)
Schdule of Long-term Debt	May 31, 2024 February 29, 2024 Investissement Québec financing facility: Principal amount $ 3,318 $ 3,353 Unamortized discount (187 ) (191 ) Accrued interest 151 158 Total Investissement Québec financing facility 3,282 3,320 Less: current portion of long-term debt (244 ) (100 ) 3,038 3,220 Credit facility 2,517 - Long-term debt, net of current portion $ 5,555 $ 3,220
Principal Repayments	Years ending Amount February 28, 2025 $ 74 February 28, 2026 679 February 28, 2027 3,196 February 29, 2028 679 February 28, 2029 679 Thereafter 679 Total $ 5,986

Stockholders Equity (Tables)

Stockholders Equity (Tables)	3 Months Ended
	May 31, 2024
Stockholders Equity
Common Stock	For the period ended May 31, 2024 Number of shares Amount Balance, February 29, 2024 47,528,908 $ 5 Issuance of shares upon settlement of restricted stock units 9,837 - Balance, May 31, 2024 47,538,745 $ 5 For the period ended May 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, May 31, 2023 47,521,187 $ 5

Research and Development Expe_2

Research and Development Expenses (Tables)	3 Months Ended
	May 31, 2024
Research and Development Expenses
Schedule Of Research And Development Expenses	May 31, 2024 May 31, 2023 Employee compensation $ 1,144 $ 1,446 Machinery and equipment expenditures 3 1,236 External engineering 628 1,155 Plant and laboratory operating expenses 270 469 Other 192 184 $ 2,237 $ 4,490

General and Administrative Ex_2

General and Administrative Expenses (Tables)	3 Months Ended
	May 31, 2024
General and Administrative Expenses
General And Administrative Expenses	May 31, 2024 May 31, 2023 Employee compensation $ 876 $ 833 Insurance 492 703 Professional fees 1,255 619 Other 288 310 $ 2,911 $ 2,465

Share based Payments (Tables)

Share based Payments (Tables)	3 Months Ended
	May 31, 2024
Share based Payments (Tables)
Schdule of Stock Options Activity	2024 2023 Number of stock options Weighted average exercise price Number of stock options Weighted average exercise price Outstanding, beginning of period 2,772,000 $ 5.10 2,542,000 $ 5.27 Granted 199,216 2.89 240,000 3.11 Exercised - - - - Forfeited - - - - Expired - - - - Outstanding, end of period 2,971,216 $ 4.95 2,782,000 $ 5.08 Exercisable, end of period 1,890,000 $ 6.39 1,670,000 $ 6.84
Principle components of the pricing model of stock option activity	2024 2023 Exercise price $ 2.89 3.11 Risk-free interest rate 4.09 % 3.84 % Expected dividend yield 0 % 0 % Expected volatility 73 % 79 % Expected life 7 years 3 years
Schdule of restricted stock units	2024 2023 Number of units Weighted average fair value price Number of units Weighted average fair value price Outstanding, beginning of period 4,368,897 $ 6.53 3,888,618 $ 7.09 Granted 40,000 2.85 470,000 2.87 Settled (9,837 ) 8.31 (51,963 ) 8.66 Forfeited - - - - Outstanding, end of period 4,399,060 $ 6.49 4,306,655 $ 6.61 Outstanding vested, end of period 1,727,575 $ 6.07 1,568,497 $ 6.31

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	3 Months Ended
	May 31, 2024
Equity Incentive Plan
Equity Incentive Plan	2024 2023 Number of units* Number of units* Authorized, beginning of period 848,244 120,486 Automatic share reserve increase 1,500,000 1,500,000 Units granted (239,216 ) (710,000 ) Units forfeited - - Units expired - - Authorized, end of period 2,109,028 910,486

The Company and Basis of Presen

The Company and Basis of Presentation and Going Concern (Details Narrative) - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
The Company, Basis of Presentation and Going Concern
Ownership, Percentage	50%
Cash and cash equivalents	$ 5,291	$ 6,958

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - shares	3 Months Ended
	May 31, 2024	May 31, 2023
Note Warrant
Dilutive Securities	7,089,400	7,089,400
Stock Option
Dilutive Securities	2,971,216	2,782,000
Restricted Stock Units
Dilutive Securities	4,399,060	4,306,655

Sales Tax Tax Credits and Oth_3

Sales Tax Tax Credits and Other Receivables (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Sales Tax Tax Credits and Other Receivables
Sales tax	$ 89	$ 75
Research and development tax credits	145	160
Interest income receivable	0	70
Other receivables	8	46
Total	$ 242	$ 351

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 28, 2024
Inventories
Finished goods	$ 549	$ 552
Work in process	322	333
Raw materials	31	34
Allowance for inventory write-down	(803)	(817)
Inventory net	$ 99	$ 102

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($) $ in Thousands	May 31, 2024	Feb. 28, 2024
Inventories
Allowance for inventory write-down	$ (803)	$ (817)

Deposits and Prepaid Expenses_2

Deposits and Prepaid Expenses (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Deposits and Prepaid Expenses
Insurance	$ 399	$ 449
Other	126	128
Prepaid expenses and deposits	$ 525	$ 577

Property Plant and Equipment ne

Property Plant and Equipment net (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Property, Plant And Equipment, Gross	$ 12,620	$ 12,641
Less: Accumulated Depreciation, Write-down And Impairment	(2,087)	(2,005)
Property, Plant And Equipment, Net	10,533	10,636
Building
Property, Plant And Equipment, Gross	1,818	1,827
Less: Accumulated Depreciation, Write-down And Impairment	(385)	(371)
Property, Plant And Equipment, Net	1,433	1,456
Land
Property, Plant And Equipment, Gross	225	226
Less: Accumulated Depreciation, Write-down And Impairment	0	0
Property, Plant And Equipment, Net	225	226
Building and land improvements
Property, Plant And Equipment, Gross	1,844	1,853
Less: Accumulated Depreciation, Write-down And Impairment	(1,535)	(1,472)
Property, Plant And Equipment, Net	309	381
Office equipment and furniture
Property, Plant And Equipment, Gross	273	275
Less: Accumulated Depreciation, Write-down And Impairment	(167)	(162)
Property, Plant And Equipment, Net	106	113
Machinery and Equipment [Member]
Property, Plant And Equipment, Gross	8,460	8,460
Less: Accumulated Depreciation, Write-down And Impairment	0	0
Property, Plant And Equipment, Net	$ 8,460	$ 8,460

Property Plant and Equipment _2

Property Plant and Equipment net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Property Plant and Equipment
Depreciation Expense	$ 91	$ 101

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023	Feb. 29, 2024
Intangible Assets
Intangible assets	$ 1,671		$ 1,548
Additions to intangible assets	176	$ 99
Amortization expense	$ 46	$ 32

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Level 2 - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Due to customer
Carrying Amount	$ 784	$ 770
Fair Value	784	770
Long-term Debt
Carrying Amount	5,799	3,320
Fair Value	$ 5,862	$ 3,377

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 09, 2024
Accounts Payable and Accrued Liabilities
Trade Accounts Payable	$ 1,466	$ 602
Accrued Employee Compensation	546	801
Accrued Engineering Fees	0	511
Accrued Professional Fees	706	274
Other Accrued Liabilities	173	133
Accounts Payable And Accrued Liabilities	$ 2,891	$ 2,321

LongTerm Debt (Details)

LongTerm Debt (Details) - USD ($) $ in Thousands	May 31, 2024	Feb. 29, 2024
Principal Amount	$ 5,986
Credit facility	2,517	$ 0
Less: current portion of long-term debt	(244)	(100)
Long-term Debt, Net Of Current Portion	5,555	3,220
Investissement Quebec Financing Facility [Member]
Principal Amount	3,318	3,353
Unamortized Discount	(187)	(191)
Accrued Interest	151	158
Total Investissement Quebec financing facility	3,282	3,320
Less: current portion of long-term debt	(244)	(100)
Long-term Debt, Net Of Current Portion	$ 3,038	$ 3,220

LongTerm Debt (Details 1)

LongTerm Debt (Details 1) $ in Thousands	May 31, 2024 USD ($)
LongTerm Debt (Tables)
February 28, 2025	$ 74
February 28, 2026	679
February 28, 2027	3,196
February 28, 2028	679
February 29, 2029	679
Thereafter	679
Total	$ 5,986

LongTerm Debt (Details Narrativ

LongTerm Debt (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023	Feb. 29, 2024	Jul. 26, 2022
Borrowings				$ 2,567
Credit Facility	$ 2,517		$ 0
Annual interest rate				1%
Investissement Quebec Financing Facility [Member]
Interest Expense	30	$ 21
Accretion Expense	14	17
Repayments of loans	$ 25	$ 16

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Balance, amount	$ 14,142	$ 33,736
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	9,837	51,963
Common Stocks [Member]
Balance, shares	47,528,908	47,469,224
Balance, amount	$ 5	$ 5
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	9,837	51,963
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Amount	$ 0	$ 0
Balance, Share	47,538,745	47,521,187
Balance, Amounts	$ 5	$ 5

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative) - shares	3 Months Ended
	May 31, 2024	May 31, 2023
Stockholders Equity
Issuance Of Shares Upon Settlement Of Restricted Stock Units, Shares	9,837	51,963

Research and Development Expe_3

Research and Development Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Research and Development Expenses	$ 2,237	$ 4,490
Research and Development Expenses	2,237	4,490
Employee Compensation [Member]
Research and Development Expenses	1,144	1,446
Research and Development Expenses	1,144	1,446
Machinery and Equipments [Member]
Research and Development Expenses	3	1,236
Research and Development Expenses	3	1,236
External Engineering [Member]
Research and Development Expenses	628	1,155
Research and Development Expenses	628	1,155
Plant and Laboratory Operating Expenses [Member]
Research and Development Expenses	270	469
Research and Development Expenses	270	469
Other [Member]
Research and Development Expenses	192	184
Research and Development Expenses	$ 192	$ 184

General and Administrative Ex_3

General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
General And Administrative Expenses	$ 2,911	$ 2,465
Insurance [Member]
General And Administrative Expenses	492	703
Professional Fees
General And Administrative Expenses	1,255	619
Other (Member)
General And Administrative Expenses	288	310
Employee Compensation [Member]
General And Administrative Expenses	$ 876	$ 833

Share-based Payments (Details)

Share-based Payments (Details) - $ / shares	3 Months Ended
	May 31, 2024	May 31, 2023
Share Based Payments
Number Of Options Outstanding, Beginning	2,772,000	2,542,000
Number Of Options, Granted	199,216	240,000
Number Of Options Outstanding, Ending	2,971,216	2,782,000
Exercisable, End Of Year	1,890,000	1,670,000
Weighted Average Exercise Price Outstanding, Beginning	$ 5.10	$ 5.27
Weighted Average Exercise Price, Granted	2.89	3.11
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Forfeited	0	0
Weighted Average Exercise Price, Expired	0	0
Weighted Average Exercise Price Outstanding, Ending	4.95	5.08
Weighted Average Exercisable, End Of Year	$ 6.39	$ 6.84

Share-based Payments (Details 1

Share-based Payments (Details 1) - $ / shares	3 Months Ended
	May 31, 2024	May 31, 2023
Share Based Payments
Exercise price	$ 2.89	$ 3.11
Risk-free interest rate	4.09%	3.84%
Expected dividend yield	0%	0%
Expected volatility	73%	79%
Expected life	7 years	3 years

Share-based Payments (Details 2

Share-based Payments (Details 2) - Restricted Stock Units - $ / shares	3 Months Ended
	May 31, 2024	May 31, 2023
Number Of Units Outstanding, Beginning	4,368,897	3,888,618
Number Of Units, Granted	40,000	470,000
Number of Units, Settled	(9,837)	(51,963)
Number Of Units Outstanding, Ending	4,399,060	4,306,655
Number Of Units Outstanding Vested, Ending	1,727,575	1,568,497
Weighted Average Exercise Price Outstanding, Beginning	$ 6.53	$ 7.09
Weighted Average Exercise Price, Granted	2.85	2.87
Weighted Average Exercise Price, Settled	8.31	8.66
Weighted Average Exercise Price Outstanding, Ending	6.49	6.61
Weighted Average Exercise Price Outstanding Vested, Ending	$ 6.07	$ 6.31

Share-based Payments (Details N

Share-based Payments (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Stock-based Compensation Expense Attributable To Stock Options	$ 146	$ 162
Stock-based Compensation Attributable To Rsus	224	193
Research and Development Expenses [Member]
Stock-based Compensation Expense	129	159
General and Administrative Expenses [Member]
Stock-based Compensation Expense	$ 241	$ 196

Equity Incentive Plan (Details)

Equity Incentive Plan (Details) - Equity Incentive Plan [Member[ - shares	3 Months Ended
	May 31, 2024	May 31, 2023
Automatic share reserve increase	1,500,000	1,500,000
Number Of Units Authorized, Beginning	848,244	120,486
Units Granted	(239,216)	(710,000)
Units forfeited	0	0
Units expired	0	0
Number Of Units Authorized, Ending	2,109,028	910,486

Equity Incentive Plan (Details

Equity Incentive Plan (Details Narrative) - shares		3 Months Ended
	Jul. 06, 2017	May 31, 2024	May 31, 2023	Mar. 01, 2024	Mar. 01, 2023
Expected Life		7 years	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	1,500,000
Expected Life		10 years
Voting Power Percentage		10
Life Of Option		5 years
Common Stock Outstanding Shares Percentage	5%

Contractual agreements (Details

Contractual agreements (Details Narrative) - EUR (€) € in Millions		1 Months Ended
	May 02, 2024	May 30, 2024
Agreement with Reed Management SAS [Member]
Dividend rate		13%
Total investment amount		€ 35
Investment in Convertible Preferred Security		€ 10
Period of agreement		5 years
Description of agreement		€25M loan to Loop in two equal tranches – first tranche to support global deployment opportunities paid at closing and second tranche to support European deployment opportunities paid in the following 12 months with both tranches having a 13% PIK interest rate and 3-year term
Strategic partnership with Ester Industries Ltd. [Member]
Description of agreement	Loop and Ester parties will endeavor to obtain debt for a minimum of 60% of the total installed cost of the Infinite Loop™ manufacturing facility in India and will each contribute 50% of the initial equity capital of the India JV