flooidCX (FLCX) 10-Q 21 Oct 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 31, 2021	Oct. 20, 2021
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, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		1,952,657
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	000-55965
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	35-2511643
Entity Address Address Line 1	1282A Cornwall Road Oakville
Entity Address City Or Town	Ontario
Entity Address Country	CA
Entity Address Postal Zip Code	L6J 7W5
City Area Code	855
Local Phone Number	535-6643

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Aug. 31, 2021	Feb. 28, 2021
ASSETS
Cash	$ 694	$ 1,251
Accounts receivable	0	7,380
Prepaid expenses and deposits	13,616	7,741
Total Current Assets	14,310	16,372
Property and equipment (Note 3)	13,321	15,412
Total Assets	27,631	31,784
Current Liabilities
Accounts payable and accrued liabilities	293,986	282,760
Loans payable	3,227,112	3,143,792
Due to related parties	1,160,169	945,220
Total Liabilities	4,681,267	4,371,772
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 1,952,657 and 1,976,218 shares issued and outstanding, respectively	1,953	1,976
Common stock issuable (Note 5)	39,760	19,497
Additional paid-in capital	51,824,040	51,728,412
Accumulated other comprehensive income	57,018	74,510
Deficit	(56,577,407)	(56,165,383)
Total Stockholders' Deficit	(4,653,636)	(4,339,988)
Total Liabilities and Stockholders' Deficit	$ 27,631	$ 31,784

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2021	Feb. 28, 2021
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	1,952,657	1,976,218
Common stock, shares outstanding	1,952,657	1,976,218

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
Revenue	$ 2,351	$ 11,250	$ 12,673	$ 54,500
Expenses
General and administrative (Note 5)	33,863	168,591	161,031	339,546
Research and development (Note 5)	97,960	228,771	259,886	593,726
Total expenses	131,823	397,362	420,917	933,272
Loss before other expense	(129,472)	(386,112)	(408,244)	(878,722)
Other expenses
Financing costs	(2,174)	0	(3,780)	0
Net loss for the period	(131,646)	(386,112)	(412,024)	(878,772)
Other comprehensive income (loss)
Foreign currency translation gain (loss)	181,066	(196,358)	(17,492)	(111,315)
Comprehensive income (loss) for the period	$ 49,420	$ (582,470)	$ (429,516)	$ (990,087)
Net loss per share, basic and diluted	$ (0.07)	$ (0.20)	$ (0.21)	$ (0.46)
Weighted average number of shares outstanding	1,952,657	1,933,640	1,961,748	1,928,226

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholder's Deficit (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Common Stock Issuable	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Deficit
Balance, shares at Feb. 29, 2020		1,000,000	1,919,795
Balance, amount at Feb. 29, 2020	$ (3,357,941)	$ 1,000	$ 1,919	$ 9,308	$ 51,034,197	$ 285,988	$ (54,690,353)
Fair value of shares to be issued for services	9,067	0	0	9,067	0	0	0
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)
Balance, shares at May. 31, 2020		1,000,000	1,919,795
Balance, amount at May. 31, 2020	(3,480,299)	$ 1,000	$ 1,919	18,375	51,310,389	371,031	(55,183,013)
Balance, shares at Feb. 29, 2020		1,000,000	1,919,795
Balance, amount at Feb. 29, 2020	(3,357,941)	$ 1,000	$ 1,919	9,308	51,034,197	285,988	(54,690,353)
Net loss for the period	(878,772)
Balance, shares at Aug. 31, 2020		1,000,000	1,935,253
Balance, amount at Aug. 31, 2020	(3,910,570)	$ 1,000	$ 1,934	9,584	51,471,364	174,673	(55,569,125)
Balance, shares at Feb. 29, 2020		1,000,000	1,919,795
Balance, amount at Feb. 29, 2020	(3,357,941)	$ 1,000	$ 1,919	9,308	51,034,197	285,988	(54,690,353)
Balance, shares at Feb. 28, 2021		1,000,000	1,976,218
Balance, amount at Feb. 28, 2021	(4,339,988)	$ 1,000	$ 1,976	19,497	51,728,412	74,510	(56,165,383)
Balance, shares at May. 31, 2020		1,000,000	1,919,795
Balance, amount at May. 31, 2020	(3,480,299)	$ 1,000	$ 1,919	18,375	51,310,389	371,031	(55,183,013)
Fair value of shares to be issued for services	9,584	0	0	9,584	0	0	0
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)
Fair value of shares issued for services, shares			15,458
Fair value of shares issued for services, amount	0	0	$ 15	(18,375)	18,360	0	0
Fair value of shares issued as financing cost	24,500	0	0	0	24,500	0	0
Foreign exchange translation loss	(196,358)	$ 0	$ 0	0	0	(196,358)	0
Balance, shares at Aug. 31, 2020		1,000,000	1,935,253
Balance, amount at Aug. 31, 2020	(3,910,570)	$ 1,000	$ 1,934	9,584	51,471,364	174,673	(55,569,125)
Balance, shares at Feb. 28, 2021		1,000,000	1,976,218
Balance, amount at Feb. 28, 2021	(4,339,988)	$ 1,000	$ 1,976	19,497	51,728,412	74,510	(56,165,383)
Fair value of shares to be issued for services	10,355	0	0	10,355	0	0	0
Fair value of stock options granted	89,887	0	0	0	89,887	0	0
Net loss for the period	(280,378)	0	0	0	0	0	(280,378)
Foreign exchange translation loss	(198,558)	0	$ 0	0	0	(198,558)	0
Shares returned and cancelled, shares			(23,561)
Shares returned and cancelled, amount	0	$ 0	$ (23)	0	23	0	0
Balance, shares at May. 31, 2021		1,000,000	1,952,657
Balance, amount at May. 31, 2021	(4,718,682)	$ 1,000	$ 1,953	29,852	51,818,322	(124,048)	(56,445,761)
Balance, shares at Feb. 28, 2021		1,000,000	1,976,218
Balance, amount at Feb. 28, 2021	(4,339,988)	$ 1,000	$ 1,976	19,497	51,728,412	74,510	(56,165,383)
Net loss for the period	(412,024)
Balance, shares at Aug. 31, 2021		1,000,000	1,952,657
Balance, amount at Aug. 31, 2021	(4,653,636)	$ 1,000	$ 1,953	39,760	51,824,040	57,018	(56,577,407)
Balance, shares at May. 31, 2021		1,000,000	1,952,657
Balance, amount at May. 31, 2021	(4,718,682)	$ 1,000	$ 1,953	29,852	51,818,322	(124,048)	(56,445,761)
Fair value of shares to be issued for services	9,908	0	0	9,908	0	0	0
Fair value of stock options granted	5,718	0	0	0	5,718	0	0
Foreign exchange translation gain	181,066	0	0	0	0	181,066	0
Net loss for the period	(131,646)	$ 0	$ 0	0	0	0	(131,646)
Balance, shares at Aug. 31, 2021		1,000,000	1,952,657
Balance, amount at Aug. 31, 2021	$ (4,653,636)	$ 1,000	$ 1,953	$ 39,760	$ 51,824,040	$ 57,018	$ (56,577,407)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Operating Activities
Net loss for the period	$ (412,024)	$ (878,772)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,209	2,774
Financing costs	3,780	0
Shares issued/issuable for services	20,263	43,151
Stock-based compensation	95,605	394,307
Changes in operating assets and liabilities:
Accounts receivable	7,380	0
Accrued receivable	0	16,875
Prepaid expenses and deposits	(5,875)	721
Accounts payable and accrued liabilities	7,446	109,188
Due to related parties	108,832	103,219
Net Cash Used in Operating Activities	(172,384)	(208,537)
Investing Activities
Purchase of property and equipment	0	(907)
Net Cash Used in Investing Activities	0	(907)
Financing Activities
Proceeds from loans payable	51,114	219,580
Repayment of loans payable	0	(27,721)
Proceeds from related party loans	102,967	0
Net Cash Provided by Financing Activities	154,081	191,859
Effect of Foreign Exchange Rate Changes on Cash	17,746	(10,330)
Change in Cash	(557)	(27,915)
Cash, Beginning of Period	1,251	32,025
Cash, End of Period	694	4,110
Non-cash Investing and Financing Activities:
Shares issued to settle financing cost payable	0	24,500
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, 2021
Nature of Operations and Continuance of Business
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 March 11, 2020, the World Health Organization declared COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, have adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company has not been significant, 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, 2021, the Company has a working capital deficit of $4,666,957 and an accumulated deficit of $56,577,407 since inception. As at August 31, 2021, the Company is in default of certain loans payable (refer to Note 4). Furthermore, during the six months ended August 31, 2021, the Company used $172,384 in operating activities. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These 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, 2021
Significant Accounting Policies
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 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 28, 2021. 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, 2021
Property and Equipment
3. Property and Equipment	3. Property and Equipment August 31, 2021 $ February 28, 2021 $ Computer equipment 40,753 40,532 Furniture and equipment 40,000 39,782 Total 80,753 80,314 Less: accumulated depreciation (67,432 ) (64,902 ) Net carrying value 13,321 15,412

Loans Payable

Loans Payable	6 Months Ended
	Aug. 31, 2021
Loans Payable
4. Loans Payable	4. Loans Payable (a) As at August 31, 2021, the Company owed $2,270,678 (February 28, 2021 – $2,235,893) which is non-interest bearing, unsecured, and due on demand. (b) As at August 31, 2021, the Company owed $472,958 (February 28, 2021 – $442,802) which is unsecured, non-interest bearing, unsecured, and due on demand. (c) As at August 31, 2021, the Company owed $118,890 (February 28, 2021 - $118,245) 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. As consideration for making the loan, the Company issued 5,882 shares of common stock with a fair value of $24,500 and granted 2,941 stock options with a fair value of $11,835 exercisable at $17.00 per share expiring on June 17, 2023. On October 5, 2020, the Company issued 17,648 shares of common stock with a fair value of $25,500 as payment for $3,984 interest and penalties due on this loan and extension of the maturity date of the loan to November 25, 2020, resulting in a loss on settlement of debt of $21,516. (d) As at August 31, 2021, the Company owed $198,150 (February 28, 2021 - $197,075) under a loan agreement dated October 5, 2020. The loan was due on November 25, 2020 and secured by 588,235 shares of common stock of the Company owned by the President of the Company. The Company issued 17,648 shares of common stock in lieu of any interest and late payment penalties. (e) As at August 31, 2021, the Company owed $95,102 (February 28, 2021 - $94,596) under a loan agreement dated December 1, 2020. The loan is unsecured, non-interest bearing, unsecured, and due on demand. (f) As at August 31, 2021, the Company owed $23,778 (February 28, 2021 - $23,649) under a loan agreement dated December 1, 2020 which is unsecured, bears interest at 5% per annum, and had a maturity date of June 1, 2021. The interest rate increases to 12% per annum on non-repayment of the principal amount outstanding and interest thereon by the due date. (g) As at August 31, 2021, the Company owed $47,556 (February 28, 2021 - $31,532) 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. The loan has been classified as a current liability as the Company has some uncertainty around meeting all of the eligibility requirements.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Aug. 31, 2021
Related Party Transactions
5. Related Party Transactions	5. Related Party Transactions (a) As at August 31, 2021, the Company owed $1,042,317 (February 28, 2021 – $930,020) to the President of the Company which is unsecured, non-interest bearing, and due on demand. (b) As at August 31, 2021, the Company owed $117,852 (February 28, 2021 - $15,200) under various loan agreements which are unsecured, bear interest at 5% per annum, and have different maturity dates respectively. The interest rate increases to 12% per annum on non-repayment of the principal amount outstanding and interest thereon by the due date. Interest is accrued until final repayment and is based on the principal amount outstanding. The loan agreements are with the spouse of the President of the Company. (c) As at August 31, 2021, the Company owed $28,180 (February 28, 2021 - $28,028) to the Chief Operating Officer (“COO”) of the Company. The amount owing is included in accounts payable and accrued liabilities. During the six months ended August 31, 2021, the Company incurred $20,525 (2020 – $19,414) in research and development fees to the COO of the Company. (d) During the six months ended August 31, 2021, the Company incurred $96,588 (2020 – $87,540) in research and development fees to the President of the Company. (e) During the six months ended August 31, 2021, the Company incurred $12,074 (2020 - $11,692) in administrative fees included in general and administrative to the office manager who is also the spouse of the President of the Company. (f) During the six months ended August 31, 2021, the Company recognized stock-based compensation of $77,345 (2020 - $333661) to the President, COO of the Company, and directors of the Company. The Company also recognized stock-based compensation of $18,561 (2020 - $74,619) in general and administrative to the spouse of the President of the Company.

Common Stock

Common Stock	6 Months Ended
	Aug. 31, 2021
Common Stock
6. Common Stock	6. Common Stock (a) On August 31, 2021, the Company authorized the issuance of 30,391 shares of common stock with a fair value of $9,908 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, 2021, these shares remain to be issued (b) On May 31, 2021, the Company authorized the issuance of 19,910 shares of common stock with a fair value of $10,355 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, 2021, these shares remain to be issued. (c) On February 28, 2021, the Company authorized the issuance of 6,570 shares of common stock with a fair value of $9,856 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, 2021, these shares remain to be issued. (d) On November 30, 2020, the Company authorized the issuance of 11,343 shares of common stock with a fair value of $9,641 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, 2021, these shares remain to be issued.

Stock Options

Stock Options	6 Months Ended
	Aug. 31, 2021
Stock Options
7. Stock Options	7. Stock Options The following table summarizes the continuity of stock options: Number of options Weighted average exercise price $ Aggregate intrinsic value $ Balance, February 28, 2021 301,015 17.00 - Granted 17,647 17.00 Balance, August 31, 2021 318,662 17.00 - Additional information regarding stock options outstanding as at August 31, 2021 is as follows: Outstanding Exercisable Range of exercise prices $ Number of shares Weighted average remaining contractual life (years) Weighted average exercise price $ Number of shares Weighted average exercise price $ 17.00 318,662 3.7 17.00 318,662 17.00 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, 2021 Six months ended August 31, 2020 Risk-free interest rate 0.78 % 0.23 % Expected life (in years) 5 5 Expected volatility 286 % 284 % The fair value of stock options recognized during the six months ended August 31, 2021 was $95,605 (2020 - $394,307), 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, 2021 was $0.52 (2020 – $17.00) per option.

Commitments

Commitments	6 Months Ended
	Aug. 31, 2021
Commitments
8. Commitments	8. 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 was to pay this company $5,000 per month for a period of six months. In addition, The Company was to issue 29,412 shares of common of stock upon execution of the agreement (issued) and 29,412 shares of common stock upon an uplisting of the Company’s common stock to a national exchange. For any financing, the Company would 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. On November 20, 2020, the Company entered into a settlement and release agreement with the consultant. All outstanding fees owing to the consultant were waived and the consultant was to return 23,561 shares of common stock. During the six months ended August 31, 2021, these shares were returned and cancelled. (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 17,647 stock options exercisable at $17.00 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 monthly payments and Cdn$50,000 payable in equivalent shares of common stock of the Company on the last business day of each quarter. As at August 31, 2021, the agreement has not been terminated and so is deemed to have renewed for a further one year period.

Revenue

Revenue	6 Months Ended
	Aug. 31, 2021
Revenue
9. Revenue	9. Revenue During the six months ended August 31, 2021 and 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.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 31, 2021
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 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 Statement	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 28, 2021. 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, 2021
Property and Equipment
Schedule Of Property and Equipment	August 31, 2021 $ February 28, 2021 $ Computer equipment 40,753 40,532 Furniture and equipment 40,000 39,782 Total 80,753 80,314 Less: accumulated depreciation (67,432 ) (64,902 ) Net carrying value 13,321 15,412

Stock Options (Tables)

Stock Options (Tables)	6 Months Ended
	Aug. 31, 2021
Stock Options
Schedule of continuity of stock options	Number of options Weighted average exercise price $ Aggregate intrinsic value $ Balance, February 28, 2021 301,015 17.00 - Granted 17,647 17.00 Balance, August 31, 2021 318,662 17.00 -
Schedule of stock options outstanding	Outstanding Exercisable Range of exercise prices $ Number of shares Weighted average remaining contractual life (years) Weighted average exercise price $ Number of shares Weighted average exercise price $ 17.00 318,662 3.7 17.00 318,662 17.00
Schedule of fair value of stock options	Six months ended August 31, 2021 Six months ended August 31, 2020 Risk-free interest rate 0.78 % 0.23 % Expected life (in years) 5 5 Expected volatility 286 % 284 %

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Feb. 28, 2021
Nature of Operations and Continuance of Business
Accumulated Deficit	$ (56,577,407)		$ (56,165,383)
Working capital deficit	(4,666,957)
Net Cash Used In Operating Activities	$ (172,384)	$ (208,537)

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Aug. 31, 2021	Feb. 28, 2021
Property and Equipment, Total	$ 80,753	$ 80,314
Less: Accumulated depreciation	(67,432)	(64,902)
Net carrying value	13,321	15,412
Computer Equipment [Member]
Property and Equipment, Total	40,753	40,532
Furniture And Equipment [Member]
Property and Equipment, Total	$ 40,000	$ 39,782

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)	Oct. 05, 2020	Aug. 31, 2021	Feb. 28, 2021
Issuance of common stock	17,648
Fair value of common stock	$ 25,500
Interest and penalties	$ 3,984
Extension of the maturity date of the loan	Nov. 25, 2020
Loss on settlement of debt		$ 21,516
Amount due		3,227,112	$ 3,143,792
Loan Agreement One [Member]
Amount due		$ 23,778	23,649
Interest rate		5.00%
Maturity date		Jun. 1, 2021
Revised interest rate description		The interest rate increases to 12% per annum on non-repayment of the principal amount outstanding and interest thereon by the due date.
Loan Agreement [Member]
Amount due		$ 95,102	$ 94,596
Loan Agreement [Member] | President [Member]
Interest rate		12.00%	5.00%
Loan Agreement [Member] | October 5, 2020 [Member]
Amount due		$ 198,150	$ 197,075
Maturity date		Nov. 25, 2020
Shares reserved against debt, shares		588,235
Shares issued upon debt conversion, shares		17,648
Loans Payable Three [Member]
Issuance of common stock		5,882
Extension of the maturity date of the loan		Jul. 31, 2020
Amount due		$ 118,890	118,245
Interest rate		5.00%
Maturity date		Jun. 17, 2023
Penalty rate, percentage		2.00%
Stock option granted		2,941
Fair value of stock options		$ 11,835
Fair value of issuance of common stock		$ 24,500
Exercisable price		$ 17
Loans Payable [Member]
Amount due		$ 2,270,678	2,235,893
Loans Payable One [Member]
Amount due		472,958	442,802
Loans Payable Two [Member]
Amount due		$ 47,556	$ 31,532
Loan unsecured and non-interest bearing initial term description		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		12 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020	Feb. 28, 2021
Stock-based compensation			$ 95,605	$ 394,307
Research and development fees	$ 97,960	$ 228,771	259,886	593,726
COO [Member]
Research and development fees			20,525	19,414
Due to related parties	28,180		28,180		$ 28,028
President [Member]
Due to related parties	1,042,317		1,042,317		930,020
Research and development fees			96,588	87,540
President [Member] | Loan Agreement [Member]
Due to related parties	$ 117,852		$ 117,852		$ 15,200
Rate of interest			12.00%		5.00%
Spouse Of President [Member]
Stock-based compensation			$ 18,561	74,619
Administrative fees			12,074	11,692
President, COO, and directors [Member]
Stock-based compensation			$ 77,345	$ 333,661

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended	12 Months Ended
	Aug. 31, 2021	May 31, 2021	Nov. 30, 2020	Aug. 31, 2020	Feb. 28, 2021
Fair value of shares issued for services, amount				$ 0
COO [Member]
Number of shares issued for services, shares	30,391	19,910	11,343		6,570
Fair value of shares issued for services, amount	$ 9,908	$ 10,355	$ 9,641		$ 9,856

Stock Options (Details)

Stock Options (Details)	6 Months Ended
	Aug. 31, 2021$ / sharesshares
Number Of Options
Beginning balance | shares	301,015
Granted | shares	17,647
Ending balance | shares	318,662
Weighted average exercise price
Beginning balance, Weighted average exercise price	$ 17
Cancelled	17
Ending balance, Weighted average exercise price	17
Aggregate intrinsic value
Aggregate intrinsic value, Beginning balance	0
Aggregate intrinsic value, Ending balance	$ 0

Stock Options (Details 1)

Stock Options (Details 1) - $ / shares	6 Months Ended
	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021
Stock Options
Range of exercise prices	$ 17
Stock options Outstanding
Number of options	318,662	318,662	301,015
Weighted average remaining contractual life (years)	3 years 8 months 12 days
Weighted average exercise price	$ 17
Exercisable
Number of options	318,662
Weighted average exercise prices		$ 17

Stock Options (Details 2)

Stock Options (Details 2)	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Stock Options (Details 2)
Risk-free interest rate	0.78%	0.23%
Expected life (in years)	5 years	5 years
Expected volatility	286.00%	284.00%

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	6 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Stock Options (Details Narrative)
Fair value of recognized expense	$ 95,605	$ 394,307
Weighted average exercise price	$ 0.52	$ 17

Commitments (Details Narrative)

Commitments (Details Narrative)	Oct. 07, 2019USD ($)shares	Dec. 01, 2019CAD ($)shares	Aug. 31, 2021CAD ($)shares	Dec. 01, 2019$ / shares
Stock option granted			318,662
Private Placement [Member] | Financial Advisory Agreement [Member]
Investment banking services provided (monthly) | $	$ 5,000
Common stock issued upon execution	29,412
Common stock issued upon uplisting	29,412
Commission	8.00%
Description of private placement	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 was to pay this company $5,000 per month for a period of six months. In addition, The Company was to issue 29,412 shares of common of stock upon execution of the agreement (issued) and 29,412 shares of common stock
Fees	1.00%
COO [Member]
Compensation paid in cash | $		$ 100,000	$ 50,000
Stock option granted		17,647
Exercisable price | $ / shares				$ 17
Compensation paid in cash equivalent to shares | $			$ 50,000
Consultant [Member]
Stock repurchased, shares			23,561

Revenue (Details Narrative)

Revenue (Details Narrative)	6 Months Ended
	Aug. 31, 2021
One Customer [Member]
Revenue recognition percentage	100.00%