flooidCX (FLCX) 10-Q 20 Oct 20 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 31, 2020	Oct. 19, 2020
Cover [Abstract]
Entity Registrant Name	flooidCX Corp.
Entity Central Index Key	0001609988
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	true
Entity Current Reporting Status	Yes
Document Period End Date	Aug. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		164,447,289
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Aug. 31, 2020	Feb. 29, 2020
ASSETS
Cash	$ 4,110	$ 32,025
Accounts receivable	0	16,875
Prepaid expenses and deposits	17,591	18,312
Total Current Assets	21,701	67,212
Property and equipment (Note 3)	17,008	18,423
Operating lease right-of-use asset (Note 4)	16,865	39,138
Total Assets	55,574	124,773
Current Liabilities
Accounts payable and accrued liabilities	276,571	167,383
Operating lease liability (Note 4)	32,808	39,138
Loans payable (Note 5)	2,797,327	2,550,646
Due to related party (Note 6)	828,766	725,547
Total Current Liabilities	3,935,472	3,482,714
Loans payable (Note 5)	30,672	0
Total Liabilities	3,966,144	3,482,714
Commitments (Note 9)	0	0
Subsequent Events (Note 11)	0	0
Stockholders' Deficit
Preferred stock, 20,000,000 shares authorized, $0.001 par value 1,000,000 shares issued and outstanding	1,000	1,000
Common stock, 300,000,000 shares authorized, $0.001 par value 164,447,289 and 163,133,318 shares issued and outstanding, respectively	164,447	163,133
Common stock issuable	482	310
Additional paid-in capital	51,317,953	50,881,981
Accumulated other comprehensive income	174,673	285,988
Deficit	(55,569,125)	(54,690,353)
Total Stockholders' Deficit	(3,910,570)	(3,357,941)
Total Liabilities and Stockholders' Deficit	$ 55,574	$ 124,773

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2020	Feb. 29, 2020
Stockholders' Deficit
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares issued	164,447,289	163,133,318
Common stock, shares outstanding	164,447,289	163,133,318

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Revenue	$ 11,250	$ 0	$ 54,500	$ 0
Expenses
General and administrative (Note 6)	168,591	158,030	339,546	387,559
Research and development (Note 6)	228,771	312,630	593,726	1,169,357
Total expenses	397,362	470,660	933,272	1,556,916
Net loss for the period	(386,112)	(470,660)	(878,772)	(1,556,916)
Other comprehensive loss
Foreign currency translation loss	(196,358)	(58,659)	(111,315)	(1,988)
Comprehensive loss for the period	$ (582,470)	$ (529,319)	$ (990,087)	$ (1,558,904)
Net loss per share, basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding	164,359,377	136,516,361	163,899,245	136,436,840

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders Deficit (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Common Stock Issuable	Additional Paid-in Capital	Accumulated other comprehensive Income	Deficit
Balance, shares at Feb. 28, 2019		1,000,000	136,353,318
Balance, amount at Feb. 28, 2019	$ (3,232,026)	$ 1,000	$ 136,353	$ 10,000	$ 48,250,116	$ 255,023	$ (51,884,518)
Fair value of stock options granted	868,879	0	0	0	868,879	0	0
Foreign exchange translation gain	56,671	0	0	0	0	56,671	0
Net loss for the period	(1,086,256)	$ 0	$ 0	0	0	0	(1,086,256)
Balance, shares at May. 31, 2019		1,000,000	136,353,318
Balance, amount at May. 31, 2019	(3,392,732)	$ 1,000	$ 136,353	10,000	49,118,995	311,694	(52,970,774)
Fair value of stock options granted	252,482	0	0	0	255,482	0	0
Net loss for the period	(470,660)	$ 0	$ 0	0	0	0	(470,660)
Shares issued for cash, shares			250,000
Shares issued for cash, amount	50,000	$ 0	$ 250	0	49,750	0	0
Foreign exchange translation loss	(58,659)	$ 0	$ 0	0	0	(58,659)	0
Balance, shares at Aug. 31, 2019		1,000,000	136,603,318
Balance, amount at Aug. 31, 2019	(3,619,569)	$ 1,000	$ 136,603	10,000	49,424,227	253,035	(53,441,434)
Balance, shares at Feb. 29, 2020		1,000,000	163,133,318
Balance, amount at Feb. 29, 2020	(3,357,941)	$ 1,000	$ 163,133	310	50,881,981	285,988	(54,690,353)
Fair value of stock options granted	276,192	0	0	0	276,192	0	0
Foreign exchange translation gain	85,043	0	0	0	0	85,043	0
Net loss for the period	(492,660)	0	0	0	0	0	(492,660)
Fair value of shares to be issued for services	9,067	$ 0	$ 0	504	8,563	0	0
Balance, shares at May. 31, 2020		1,000,000	163,133,318
Balance, amount at May. 31, 2020	(3,480,299)	$ 1,000	$ 163,133	814	51,166,736	371,031	(55,183,013)
Fair value of stock options granted	118,115	0	0	0	118,115	0	0
Net loss for the period	(386,112)	0	0	0	0	0	(386,112)
Foreign exchange translation loss	(196,358)	0	0		0	(196,358)	0
Fair value of shares to be issued for services	9,584	$ 0	$ 0	482	9,102	0	0
Fair value of shares issued for services, shares			1,313,971
Fair value of shares issued for services, amount	24,500	$ 0	$ 1,314	(814)	24,000	0	0
Balance, shares at Aug. 31, 2020		1,000,000	164,447,289
Balance, amount at Aug. 31, 2020	$ (3,910,570)	$ 1,000	$ 164,447	$ 482	$ 51,317,953	$ 174,673	$ (55,569,125)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Operating Activities
Net loss for the period	$ (878,772)	$ (1,556,916)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,774	4,069
Shares issued/issuable for services	43,151	0
Stock-based compensation	394,307	1,124,361
Changes in operating assets and liabilities:
Accounts receivable	16,875	0
Prepaid expenses and deposits	721	6,072
Accounts payable and accrued liabilities	109,188	12,015
Due to related party	103,219	55,083
Net Cash Used in Operating Activities	(208,537)	(355,316)
Investing Activities
Purchase of property and equipment	(907)	(1,447)
Net Cash Used in Investing Activities	(907)	(1,447)
Financing Activities
Proceeds from loans payable	219,580	335,770
Repayment of loans payable	(27,721)	0
Proceeds from issuance of common stock	0	50,000
Net Cash Provided by Financing Activities	191,859	385,770
Effect of Foreign Exchange Rate Changes on Cash	(10,330)	(25,991)
Change in Cash	(27,915)	3,016
Cash, Beginning of Period	32,025	5,517
Cash, End of Period	4,110	8,533
Supplemental Disclosures:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Nature of Operations and Contin

Nature of Operations and Continuance of Business	6 Months Ended
	Aug. 31, 2020
Nature of Operations and Continuance of Business
Note 1 - Nature of Operations and Continuance of Business	1. Nature of Operations and Continuance of Business flooidCX Corp. (formerly Gripevine, Inc. and Baixo Relocation Services, Inc.) (the “Company”) was incorporated in the state of Nevada on January 7, 2014. The Company is in the business of developing and building an online resolution platform. On May 17, 2019, the Company and Resolution 1, Inc. (“R1”) and the shareholders of R1 who collectively own 100% of R1 entered into and consummated transactions pursuant to a Share Exchange Agreement (the “Agreement”), whereby the Company agreed to issue to the R1 shareholders an aggregate of 10,000,000 shares of its common stock in exchange for 100% of the equity interests of R1 held by the R1 shareholders. As a result of the Agreement, R1 became a wholly owned subsidiary of the Company. As a result of the Agreement, the acquisition transaction was accounted for as a common control transaction in accordance with the Financial Accounting Standards Board (“FASB”) (Accounting Standard Codification (“ASC”) 805-50, Business Combinations – Common control transactions). The Company evaluated the guidance contained in ASC 805-50 with respect to the combinations among entities or businesses under common control and concluded that since the majority shareholders of the Company and R1 are the same, this was a common control transaction and did not result in a change in control at the ultimate parent or the controlling shareholder level. Consequently, common control transactions are not accounted for at fair value. Rather, common control transactions are generally accounted for at the carrying amount of the net assets or equity interests transferred. Any differences between the proceeds received or transferred and the carrying amounts of the net assets are considered equity transactions that would be eliminated in consolidation, and no gain or loss would be recognized in the consolidated financial statements of the ultimate parent. As a result, the financial position and the results of operations of the Company and R1 were consolidated together as if they were operating as one entity from the beginning. On March 11, 2020, the World Health Organization declared COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company is not currently determinable, but management continues to monitor the situation. These condensed consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, creditors, and related parties, and the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. As at August 31, 2020, the Company has a working capital deficit of $3,913,771, has an outstanding loan payable that is in default, and has an accumulated deficit of $55,569,125 since inception. Furthermore, during the six months ended August 31, 2020, the Company used $208,537 in operating activities. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Aug. 31, 2020
Significant Accounting Policies
Note 2 - Significant Accounting Policies	2. Significant Accounting Policies (a) Basis of Presentation These condensed consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. These condensed consolidated financial statements include the accounts of the Company and the following entities: MBE Holdings Inc. Wholly-owned subsidiary Resolution 1, Inc. Wholly-owned subsidiary All inter-company balances and transactions have been eliminated. (b) Interim Financial Statements The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended February 29, 2020. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. (c) Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The new standard is effective for fiscal years and interim periods within those years beginning after December 15, 2022. The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment

Property and Equipment	6 Months Ended
	Aug. 31, 2020
Property and Equipment
Note 3 - Property and Equipment	3. Property and Equipment August 31, 2020 $ February 29, 2020 $ Computer equipment 38,697 37,786 Furniture and equipment 38,907 36,651 Total 77,604 74,437 Less: accumulated depreciation (60,596 ) (56,014 ) Net carrying value 17,008 18,423

Leases

Leases	6 Months Ended
	Aug. 31, 2020
Leases
Note 4 - Leases	4. Leases On September 1, 2019, the Company entered into an agreement to extend its premises lease term expiry date from December 31, 2019 to December 31, 2020. The modification did not grant an additional right of use to the Company. Effective September 1, 2019, the Company reassessed the classification of the lease and measured the lease liability and ROU asset on the basis of the 16-month remaining lease term and its incremental borrowing rate of 27.5%. Six months ended August 31, 2020 Six months ended August 31, 2019 Components of lease expense were as follows: Operating lease cost 26,001 – Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 10,834 – August 31, 2020 $ February 29, 2020 $ Supplemental balance sheet information related to leases was as follows: Operating leases Operating lease right-of-use assets 16,865 39,138 Operating lease liabilities 32,808 39,138 Maturities of lease liabilities are as follows: Year Ending February 28, Operating Leases 2021 34,163 44,773 Total lease payments 34,163 44,773 Less: imputed interest (1,355 ) (5,635 ) Total 32,808 39,138

Loans Payable

Loans Payable	6 Months Ended
	Aug. 31, 2020
Loans Payable
Note 5 - Loans Payable	5. Loans Payable (a) As at August 31, 2020, the Company owed $2,174,912 (February 29, 2020 – $2,112,229) which is non-interest bearing, unsecured, and due on demand. (b) As at August 31, 2020, the Company owed $469,064 (February 29, 2020 - $438,417) which is non-interest bearing, unsecured, and due on demand. (c) As at August 31, 2020, the Company owed $115,013 (Cdn$150,000) (February 29, 2020 - $nil) under a loan agreement dated June 17, 2020 which is unsecured, bears interest at 5% per annum, and has a 2% penalty fee for non-repayment on the due date which was July 31, 2020. The penalty fee is calculated at time of repayment and is based on the principal amount outstanding and any accrued interest thereon. Refer to Note 11(b). As consideration for making the loan, the Company issued 500,000 shares of common stock and granted 250,000 stock options exercisable at $0.20 per share expiring on June 17, 2023. As at August 31, 2020, an additional $38,338 (Cdn$50,000) was owed. Refer to Note 11 (a). (d) As at August 31, 2020, the Company owed $30,672 (Cdn$40,000) (February 29, 2020 – $nil) for a government backed loan to assist businesses during the COVID-19 pandemic. The loan is unsecured and non-interest bearing for the initial term until December 31, 2022 and thereafter at 5% interest per annum for the extended term which ends on December 31, 2025. The loan is repayable at any time without penalty and if 75% is repaid on or within the initial term, the remaining balance will be forgiven.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Aug. 31, 2020
Related Party Transactions
Note 6 - Related Party Transactions	6. Related Party Transactions (a) As at August 31, 2020, the Company owed $828,766 (February 29, 2020 – $725,547) to the President of the Company which is unsecured, non-interest bearing, and due on demand. (b) During the six months ended August 31, 2020, the Company incurred $87,540 (2019 – $90,151) in research and development fees to the President of the Company. (c) During the six months ended August 31, 2020, the Company incurred $19,414 (2019 – $18,820) in research and development fees to the Chief Operating Officer (“COO”) of the Company. (d) During the six months ended August 31, 2020, the Company incurred $11,692 (2019 - $6,386) in general and administrative fees to the office manager who is also the spouse of the President of the Company. (e) During the six months ended August 31, 2020, the Company recognized stock-based compensation of $333,661 (2019 - $918,354) in research and development expenses to the President, COO, and directors of the Company. The Company also recognized stock-based compensation of $74,619 (2019 - $206,007) in general and administrative expenses to the spouse of the President of the Company.

Common Stock

Common Stock	6 Months Ended
	Aug. 31, 2020
Common Stock
Note 7 - Common Stock	7. Common Stock (a) On August 31, 2020, the Company authorized the issuance of 481,630 shares of common stock with a fair value of $9,584 to the COO of the Company for past services. The fair value of common stock was determined based on the end of day trading price of the Company on the date of authorization. As at August 31, 2020, these shares remain to be issued. (b) On June 17, 2020, the Company issued 500,000 shares of common stock with a fair value of $24,500 to a third party under the terms of a loan agreement with the third party. The fair value of common stock was determined based on the end of day trading price of the Company on the date of issuance. Refer to Note 5(c). (c) On May 31, 2020, the Company authorized the issuance of 503,696 shares of common stock with a fair value of $9,067 to the COO of the Company for past services. The fair value of common stock was determined based on the end of day trading price of the Company on the date of authorization. As at August 31, 2020, these shares have been issued. (d) On February 29, 2020, the Company authorized the issuance of 310,275 shares of common stock with a fair value of $9,308 to the COO of the Company for past services. The fair value of common stock was determined based on the end of day trading price of the Company on the date of authorization. As at August 31, 2020, these shares have been issued.

Stock Options

Stock Options	6 Months Ended
	Aug. 31, 2020
Stock Options
Note 8 - Stock Options	8. Stock Options The following table summarizes the continuity of stock options: Number of options Weighted average exercise price $ Aggregate intrinsic value $ Balance, February 29, 2020 18,256,500 0.20 – Granted 3,250,000 0.20 Expired (420,000 ) 0.20 Balance, August 31, 2020 21,086,500 0.20 – Additional information regarding stock options outstanding as at August 31, 2020 is as follows: Outstanding Exercisable Range of exercise prices $ Number of options Weighted average remaining contractual life (years) Weighted average exercise price $ Number of options Weighted average exercise price $ 0.20 21,086,500 4.6 0.20 17,836,500 0.20 The fair value of stock options granted was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions: Six months ended August 31, 2020 Six months ended August 31, 2019 Risk-free interest rate 0.23 % 2.12 % Expected life (in years) 4.8 5 Expected volatility 284 % 245 % The fair value of stock options recognized during the six months ended August 31, 2020 was $394,307 (2019 - $1,124,361), which was recorded as additional paid-in capital and charged to operations. The weighted average fair value of stock options granted during the six months ended August 31, 2020 was $0.02 (2019 – $0.20) per option.

Commitments

Commitments	6 Months Ended
	Aug. 31, 2020
Commitments
Note 9 - Commitments	9. Commitments (a) On October 7, 2019, the Company entered into an agreement with a company who is to provide general financial advisory and investment banking services to the Company. The Company is to pay this company $5,000 per month for a period of six months. The monthly fee can be paid in cash or in shares at the Company’s option. If paid in shares of common stock of the Company, the shares shall be valued using the volume-weighted average price of the shares for the five trading days immediately preceding each monthly fee payment due date. The Company is to issue 2,500,000 shares of common of stock upon execution of the agreement (issued) and 2,500,000 shares of common stock upon an uplisting of the Company’s common stock to a national exchange. For any financing, the Company will pay this company a commission of 8% of financing raised, a cash fee for unallocated expenses of 1% of the amount of financing raised, and issue agent’s warrants equal to 8% of the number of shares of common stock underlying the securities issued in the financing. Each agent’s warrant will be exercisable at an exercise price equal to the price of the securities issued to the investors in the financing expiring five years from the date of issuance. (b) On December 1, 2019, the Company entered into a one year agreement with the COO of the Company whereby the Company has agreed to pay the COO annual compensation of Cdn$100,000 and grant 1,500,000 stock options exercisable at $0.20 per share of common stock at the end of every quarter. The annual compensation is to be paid as follows: Cdn$50,000 payable in cash broken down into bi-monthly payments and Cdn$50,000 payable in equivalent shares of common stock of the Company on the last business day of each quarter.

Revenue

Revenue	6 Months Ended
	Aug. 31, 2020
Revenue
Note 10 - Revenue	10. Revenue During the six months ended August 31, 2020, the Company recognized revenue from website consulting and maintenance services transferred over time. During the six months ended August 31, 2020, 100% of the revenue recognized was from one customer.

Subsequents Events

Subsequents Events	6 Months Ended
	Aug. 31, 2020
Subsequents Events
Note 11 - Subsequents Events	11. Subsequent Events (a) On October 5, 2020, the Company entered into a loan agreement for Cdn$250,000, of which Cdn$50,000 had been received as at August 31, 2020 and Cdn$200,000 was received on September 28, 2020. The loan payable is due on November 25, 2020 and secured by 50,000,000 shares of common stock of the Company owned by the President of the Company. The Company is to issue 1,500,000 shares of common stock in lieu of any interest and late payment penalties. (b) On October 5, 2020, the Company agreed to issue 1,500,000 shares of common stock as payment in full of the accrued and unpaid interest and late penalty under the terms of the loan payable described in Note 5(c).

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 31, 2020
Significant Accounting Policies
Basis of Presentation	These condensed consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. These condensed consolidated financial statements include the accounts of the Company and the following entities: MBE Holdings Inc. Wholly-owned subsidiary Resolution 1, Inc. Wholly-owned subsidiary All inter-company balances and transactions have been eliminated.
Interim Financial Statements	The accompanying condensed consolidated financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended February 29, 2020. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year.
Recent Accounting Pronouncements	In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The new standard is effective for fiscal years and interim periods within those years beginning after December 15, 2022. The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Aug. 31, 2020
Property and Equipment
Schedule Of Property and Equipment	August 31, 2020 $ February 29, 2020 $ Computer equipment 38,697 37,786 Furniture and equipment 38,907 36,651 Total 77,604 74,437 Less: accumulated depreciation (60,596 ) (56,014 ) Net carrying value 17,008 18,423

Leases (Tables)

Leases (Tables)	6 Months Ended
	Aug. 31, 2020
Leases
Schedule of lease expense	Six months ended August 31, 2020 Six months ended August 31, 2019 Components of lease expense were as follows: Operating lease cost 26,001 – Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 10,834 –
Schedule of balance sheet related leases	August 31, 2020 $ February 29, 2020 $ Supplemental balance sheet information related to leases was as follows: Operating leases Operating lease right-of-use assets 16,865 39,138 Operating lease liabilities 32,808 39,138
Schedule of maturities of lease liabilities	Maturities of lease liabilities are as follows: Year Ending February 28, Operating Leases 2021 34,163 44,773 Total lease payments 34,163 44,773 Less: imputed interest (1,355 ) (5,635 ) Total 32,808 39,138

Stock Options (Tables)

Stock Options (Tables)	6 Months Ended
	Aug. 31, 2020
Stock Options
Schedule of continuity of stock options	Number of options Weighted average exercise price $ Aggregate intrinsic value $ Balance, February 29, 2020 18,256,500 0.20 – Granted 3,250,000 0.20 Expired (420,000 ) 0.20 Balance, August 31, 2020 21,086,500 0.20 –
Schedule of stock options outstanding	Outstanding Exercisable Range of exercise prices $ Number of options Weighted average remaining contractual life (years) Weighted average exercise price $ Number of options Weighted average exercise price $ 0.20 21,086,500 4.6 0.20 17,836,500 0.20
Schedule of fair value of stock options	Six months ended August 31, 2020 Six months ended August 31, 2019 Risk-free interest rate 0.23 % 2.12 % Expected life (in years) 4.8 5 Expected volatility 284 % 245 %

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020	May 17, 2019
Deficit	$ (55,569,125)		$ (54,690,353)
Net Cash Used In Operating Activities	(208,537)	$ (355,316)
Working capital deficit	$ (3,913,771)
R1 [Member]
Entity interest				100.00%
Aggregate exchange common stock shares				10,000,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Aug. 31, 2020	Feb. 29, 2020
Property and Equipment, Total	$ 77,604	$ 74,437
Less: Accumulated depreciation	(60,596)	(56,014)
Net carrying value	17,008	18,423
Computer Equipment [Member]
Property and Equipment, Total	38,697	37,786
Furniture And Equipment [Member]
Property and Equipment, Total	$ 38,907	$ 36,651

Leases (Details)

Leases (Details) - USD ($)	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Components of lease expense were as follows:
Operating lease cost	$ 26,001	$ 0
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 10,834	$ 0

Leases (Details 1)

Leases (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Aug. 31, 2020	Feb. 29, 2020
Supplemental balance sheet information related to leases was as follows:
Operating leases	$ 0	$ 0
Operating lease right-of-use assets	16,865	39,138
Operating lease liabilities	32,808	39,138
Maturities of lease liabilities are as follows:
2021	34,163	44,773
Total lease payments	34,163	44,773
Less imputed interest	(1,355)	(5,635)
Total	$ 32,808	$ 39,138

Leases (Details Narrative)

Leases (Details Narrative)	1 Months Ended
	Sep. 01, 2019
Leases
Lease term remaining	16 months
Incremental borrowing rate	27.50%

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 17, 2020	Aug. 31, 2020	Feb. 29, 2020
Amount due		$ 2,797,327	$ 2,550,646
Loans Payable Three [Member]
Amount due		115,013	0
Interest rate	5.00%
Penalty rate, percentage	2.00%
Due date of payment	Jul. 31, 2020
Issuance of common stock against loan consideration, shares	500,000
Stock option granted	250,000
Price per share	$ 0.20
Additional loan		38,338
Loans Payable [Member]
Amount due		2,174,912	2,112,229
Loans Payable One [Member]
Amount due		469,064	438,417
Loans Payable Two [Member]
Amount due		$ 30,672	$ 0
Loan unsecured and non-interest bearing initial term description		The loan is unsecured and non-interest bearing for the initial term until December 31, 2022 and thereafter at 5% interest per annum for the extended term which ends on December 31, 2025. The loan is repayable at any time without penalty and if 75% is repaid on or within the initial term, the remaining balance will be forgiven.

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Aug. 31, 2020	Aug. 31, 2019	Feb. 29, 2020
Due to related parties	$ 828,766		$ 828,766		$ 725,547
Stock-based compensation			394,307	$ 1,124,361
Research and development fees	$ 228,771	$ 312,630	593,726	1,169,357
Spouse Of President [Member]
Stock-based compensation			74,619	206,007
President [Member]
Research and development fees			87,540	90,151
President and Chief Operating Officer [Member]
Stock-based compensation			333,661	918,354
Manager [Member]
Administrative fees			11,692	6,386
Chief Operating Officer [Member] | Dcember 1, 2019 [Member]
Research and development fees			$ 19,414	$ 18,820

Common Stock (Details Narrative

Common Stock (Details Narrative) - Chief Executive Officer [Member] - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 17, 2020	May 31, 2020	Aug. 31, 2020	Feb. 29, 2020
Fair value of shares issued	$ 24,500	$ 9,067	$ 9,584	$ 9,308
Shares authorized to issue	500,000	503,696	481,630	310,275

Stock Options (Details )

Stock Options (Details )	6 Months Ended
	Aug. 31, 2020$ / sharesshares
Number of options
Beginning balance | shares	18,256,500
Granted | shares	3,250,000
Expired | shares	(420,000)
Ending balance | shares	21,086,500
Weighted average exercise price
Beginning balance, Weighted average exercise price	$ 0.20
Granted	0.20
Expired	0.20
Ending balance, Weighted average exercise price	0.20
Aggregate intrinsic value
Aggregate intrinsic value, Beginning balance	0
Granted	0
Expired	0
Aggregate intrinsic value, Ending balance	$ 0

Stock Options (Details 1)

Stock Options (Details 1) - $ / shares	6 Months Ended
	Aug. 31, 2020	Feb. 29, 2020
Stock Options
Range of exercise prices	$ 0.20
Outstanding
Number of options	21,086,500	18,256,500
Weighted average remaining contractual life (years)	4 years 7 months 6 days
Weighted average exercise price	$ 0.20
Exercisable
Number of options	17,836,500
Weighted average exercise prices	$ 0.20

Stock Options (Details 2 )

Stock Options (Details 2 )	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Stock Options (Details 2 )
Risk-free interest rate	0.23%	2.12%
Expected life (in years)	4 years 9 months 18 days	5 years
Expected volatility	284.00%	245.00%

Stock Options (Details Narrativ

Stock Options (Details Narrative ) - USD ($)	6 Months Ended
	Aug. 31, 2020	Aug. 31, 2019
Stock Options (Details Narrative )
Fair value of stock options granted	$ 394,307	$ 1,124,361
Weighted average exercise price	$ 0.02	$ 0.20

Commitments (Details Narrative)

Commitments (Details Narrative)	Oct. 07, 2019USD ($)shares	Aug. 31, 2020$ / shares	Aug. 31, 2020CAD ($)shares
Stock options granted			3,250,000
Private Placement [Member] | Financial Advisory Agreement [Member]
Investment banking services provided (monthly) | $	$ 5,000
Common stock issued upon execution	2,500,000
Common stock issued upon uplisting	2,500,000
Commission	8.00%
Fees	1.00%
Private placement description			On October 7, 2019, the Company entered into an agreement with a company who is to provide general financial advisory and investment banking services to the Company. The Company is to pay this company $5,000 per month for a period of six months. The monthly fee can be paid in cash or in shares at the Company’s option. If paid in shares of common stock of the Company, the shares shall be valued using the volume-weighted average price of the shares for the five trading days immediately preceding each monthly fee payment due date
Chief Operating Officer [Member] | December 1, 2019 [Member]
Stock options granted			1,500,000
Annual compensation | $			$ 100,000
Conditions of payment of compensation			Cdn$50,000 payable in cash broken down into bi-monthly payments and Cdn$50,000 payable in equivalent shares of common stock of the Company on the last business day of each quarter.
Stock options exercisable price | $ / shares		$ 0.20

Revenue (Details Narrative)

Revenue (Details Narrative)	6 Months Ended
	Aug. 31, 2020
Revenue
Revenue recognized	100.00%

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - CAD ($)	Oct. 05, 2020	Sep. 28, 2020	Aug. 31, 2020	Feb. 29, 2020
Common stock shares issued			164,447,289	163,133,318
Subsequent Event [Member]
Common stock issued against the late payment and interest	1,500,000
Common stock issued	1,500,000
Subsequent Event [Member] | Loan Agreement [Member]
Loan amount	$ 250,000
Loan due date	Nov. 25, 2020
Loan received	$ 50,000	$ 200,000
Subsequent Event [Member] | President [Member]
Common stock shares issued	50,000,000