Rocky Mountain Chocolate Factory (RMCF) 10-Q 20 Jul 20 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	May 31, 2020	Jun. 25, 2020
Document Information [Line Items]
Entity Registrant Name	Rocky Mountain Chocolate Factory, Inc.
Entity Central Index Key	0001616262
Trading Symbol	rmcf
Current Fiscal Year End Date	--02-28
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		6,065,138
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	May 31, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.001 par value per share; Preferred Stock Purchase Rights

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Revenues
Total revenues	$ 2,702,437	$ 8,425,999
Costs and Expenses
Cost of sales	2,883,216	4,614,744
Sales and marketing	474,090	556,651
General and administrative	3,179,475	1,144,731
Depreciation and amortization, exclusive of depreciation and amortization expense of $157,510, $145,699, respectively, included in cost of sales	185,605	231,955
Costs associated with Company-owned store closures	68,558
Total costs and expenses	7,531,400	7,479,996
(Loss) Income from Operations	(4,828,963)	946,003
Other Income (Expense)
Interest Expense	(23,562)	(12,398)
Interest Income	5,800	10,179
Other income (expense), net	(17,762)	(2,219)
(Loss) Income Before Income Taxes	(4,846,725)	943,784
Income Tax (Benefit) Provision	(1,179,328)	232,175
Consolidated Net (Loss) Income	$ (3,667,397)	$ 711,609
Basic (Loss) Earnings per Common Share (in dollars per share)	$ (0.61)	$ 0.12
Diluted (Loss) Earnings per Common Share (in dollars per share)	$ (0.61)	$ 0.11
Weighted Average Common Shares Outstanding - Basic (in shares)	6,058,851	5,962,278
Dilutive Effect of Employee Stock Awards (in shares)		272,286
Weighted Average Common Shares Outstanding - Diluted (in shares)	6,058,851	6,234,564
Product [Member]
Revenues
Total revenues	$ 2,322,211	$ 6,460,611
Franchise and Royalty Fees [Member]
Revenues
Total revenues	380,226	1,965,388
Franchise [Member]
Costs and Expenses
Costs	421,245	483,013
Retail [Member]
Costs and Expenses
Costs	$ 319,211	$ 448,902

Consolidated Statements of Op_2

Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Cost, Depreciation and Amortization, Total	$ 157,510	$ 145,699

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	May 31, 2020	Feb. 29, 2020
Current Assets
Cash and cash equivalents	$ 7,440,923	$ 4,822,071
Accounts receivable, less allowance for doubtful accounts of $1,908,912 and $638,907, respectively	2,320,580	4,049,959
Notes receivable, current portion, less current portion of the valuation allowance of $50,814 and $0, respectively	110,624	160,700
Refundable income taxes	417,979	418,319
Inventories	4,140,827	3,750,978
Other	397,311	409,703
Total current assets	14,828,244	13,611,730
Property and Equipment, Net	5,703,584	5,938,013
Other Assets
Notes receivable, less current portion and valuation allowance of $149,186 and $0, respectively	124,912	289,515
Goodwill, net	729,701	1,046,944
Franchise rights, net	2,915,707	3,047,688
Intangible assets, net	421,864	498,393
Deferred income taxes	1,809,407	630,078
Lease right of use asset	2,518,444	2,698,765
Other	56,263	56,262
Total other assets	8,576,298	8,267,645
Total Assets	29,108,126	27,817,388
Current Liabilities
Current maturities of long term debt	590,377
Line of credit	3,448,165
Accounts payable	2,965,103	2,241,506
Accrued salaries and wages	779,037	716,860
Gift card liabilities	605,437	609,842
Other accrued expenses	294,434	316,751
Dividend payable		722,344
Contract liabilities	193,492	195,658
Lease liability	803,106	803,861
Total current liabilities	9,679,151	5,606,822
Lease Liability, Less Current Portion	1,715,338	1,894,904
Long-Term Debt, Less Current Portion	948,047
Contract Liabilities, Less Current Portion	933,758	960,151
Commitments and Contingencies
Stockholders' Equity
Preferred stock
Common stock, $.001 par value, 46,000,000 shares authorized, 6,060,663 shares and 6,019,532 shares issued and outstanding, respectively	6,061	6,020
Additional paid-in capital	7,603,608	7,459,931
Retained earnings	8,222,163	11,889,560
Total stockholders' equity	15,831,832	19,355,511
Total Liabilities and Stockholders' Equity	29,108,126	27,817,388
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred stock
Undesignated Series [Member]
Stockholders' Equity
Preferred stock

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	May 31, 2020	Feb. 29, 2020
Accounts receivable, allowance for doubtful accounts	$ 1,908,912	$ 638,907
Notes receivable, current portion of the valuation allowance	50,814	0
Notes receivable, noncurrent portion of valuation allowance	$ 149,186	$ 0
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	250,000	250,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	46,000,000	46,000,000
Common stock, shares issued (in shares)	6,060,663	6,019,532
Common stock, shares outstanding (in shares)	6,060,663	6,019,532
Series A Preferred Stock [Member]
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Undesignated Series [Member]
Preferred stock, shares authorized (in shares)	200,000	200,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Cash Flows From Operating Activities
Net (loss) income	$ (3,667,397)	$ 711,609
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	343,115	377,654
Provision for loss on accounts and notes receivable	1,468,815	81,283
Asset impairment and store closure losses	544,060
Loss on sale or disposal of property and equipment	4,956	2,867
Expense recorded for stock compensation	143,718	231,254
Deferred income taxes	(1,179,329)	38,028
Changes in operating assets and liabilities:
Accounts receivable	476,533	(100,089)
Refundable income taxes	340	185,667
Inventories	(433,932)	367,824
Contract Liabilities	(27,515)	(90,248)
Other current assets	12,393	(122,047)
Accounts payable	680,748	115,667
Accrued liabilities	35,453	28,640
Net cash (used in) provided by operating activities	(1,598,042)	1,828,109
Cash Flows from Investing Activities
Proceeds received on notes receivable	17,825	28,400
Purchase of intangible assets	(41,464)
Purchases of property and equipment	(22,488)	(283,548)
Decrease in other assets		312
Net cash used in investing activities	(46,127)	(254,836)
Cash Flows from Financing Activities
Payments on long-term debt		(346,547)
Proceeds from long-term debt	1,537,200
Proceeds from the line of credit	3,448,165
Dividends paid	(722,344)	(715,179)
Net cash provided by (used in) financing activities	4,263,021	(1,061,726)
Net Increase in Cash and Cash Equivalents	2,618,852	511,547
Cash and Cash Equivalents, Beginning of Period	4,822,071	5,384,027
Cash and Cash Equivalents, End of Period	$ 7,440,923	$ 5,895,574

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Feb. 28, 2019	$ 5,958	$ 6,650,864	$ 13,733,010
Common Stock
Issuance of common stock
Equity compensation, restricted stock units	4	231,250
Balance at May. 31, 2019	5,962	6,882,114	13,728,480	$ 20,616,556
Balance at Feb. 28, 2019	5,958	6,650,864	13,733,010
Additional Paid-in Capital
Issuance of common stock
Equity compensation, restricted stock units	4	231,250
Balance at May. 31, 2019	5,962	6,882,114	13,728,480	20,616,556
Balance at Feb. 28, 2019	5,958	6,650,864	13,733,010
Retained Earnings
Consolidated net (loss) income			711,609	711,609
Cash dividends declared			(716,139)
Balance at May. 31, 2019	$ 5,962	6,882,114	13,728,480	20,616,556
Balance (in shares) at Feb. 28, 2019	5,957,827
Common Shares
Equity compensation, restricted stock units (in shares)	4,500
Balance (in shares) at May. 31, 2019	5,962,327
Balance at Feb. 29, 2020	$ 6,020	7,459,931	11,889,560	19,355,511
Common Stock
Issuance of common stock
Equity compensation, restricted stock units	41	143,677
Balance at May. 31, 2020	6,061	7,603,608	8,222,163	15,831,832
Balance at Feb. 29, 2020	6,020	7,459,931	11,889,560	19,355,511
Additional Paid-in Capital
Issuance of common stock
Equity compensation, restricted stock units	41	143,677
Balance at May. 31, 2020	6,061	7,603,608	8,222,163	15,831,832
Balance at Feb. 29, 2020	6,020	7,459,931	11,889,560	19,355,511
Retained Earnings
Consolidated net (loss) income			(3,667,397)	(3,667,397)
Cash dividends declared
Balance at May. 31, 2020	$ 6,061	$ 7,603,608	$ 8,222,163	$ 15,831,832
Balance (in shares) at Feb. 29, 2020	6,019,532
Common Shares
Equity compensation, restricted stock units (in shares)	41,131
Balance (in shares) at May. 31, 2020	6,060,663

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	NOTE 1 Nature of Operations The accompanying consolidated financial statements include the accounts of Rocky Mountain Chocolate Factory, Inc., a Delaware corporation, its wholly-owned subsidiaries, Rocky Mountain Chocolate Factory, Inc. (a Colorado corporation), Aspen Leaf Yogurt, LLC (“ALY”), and U-Swirl International, Inc. (“U-Swirl”), and its 46% The Company is an international franchisor, confectionery manufacturer and retail operator. Founded in 1981, U-Swirl operates self-serve frozen yogurt cafés under the names “U-Swirl,” “Yogurtini,” “CherryBerry,” “Yogli Mogli Frozen Yogurt,” “Fuzzy Peach Frozen Yogurt,” “Let’s Yo!” and “Aspen Leaf Yogurt.” The Company’s revenues are currently derived from three In FY 2020, 1,000 January 2020 The following table summarizes the number of stores operating 1 May 31, 2020: Sold, Not Yet Open Open 1 Total Rocky Mountain Chocolate Factory Company-owned stores - 2 2 Franchise stores - Domestic stores and kiosks 3 171 174 International license stores 1 61 62 Cold Stone Creamery - co-branded 5 98 103 U-Swirl (Including all associated brands) - Company-owned stores - co-branded - 3 3 Franchise stores - Domestic stores - 74 74 Franchise stores - Domestic - co-branded 1 7 8 International license stores - 2 2 Total 10 418 428 1 19. Basis of Presentation The accompanying consolidated financial statements have been prepared by the Company, without audit, and reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and Securities and Exchange Commission (the “SEC”) regulations. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the consolidated financial statements reflect all adjustments (of a normal and recurring nature) which are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The results of operations for the three May 31, 2020 not These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10 February 29, 2020. Subsequent Events Management evaluated all activity of the Company through the issue date of the financial statements and concluded that no COVID- 19 As discussed in more detail throughout this Quarterly Report on Form 10 May 31, 2020 ( 19 19, not May 2020 March 2020 April 2020, 19, 19 In addition, as previously announced on May 11, 2020, first 19 During this challenging time, the Company’s foremost priority is the safety and well-being of our employees, customers, franchisees and communities. In addition to the already stringent practices for the quality and safety of the Company’s confections, the Company is diligently following health and safety guidance issued by the World Health Organization, the Centers for Disease Control and state and local governmental agencies. COVID- 19 may 19 In these challenging and unprecedented times, management is taking all necessary and appropriate action to maximize liquidity as the Company navigates the current landscape. These actions include significantly reducing operating expenses and production volume to reflect reduced sales volumes as well as the elimination of all non-essential spending and capital expenditures. Further, in an abundance of caution and to maintain ample financial flexibility, the Company drew down the full amount under our line of credit and the Company received loans under the Paycheck Protection Program (the “PPP”). At May 31, 2020 $1.54 1A 19 May 10 May 29, 2020 Recent Accounting Pronouncements Except for the recent accounting pronouncements described below, other recent accounting pronouncements are not In June 2016, 2016 13, 326 2016 13 2016 13 2016 13 March 1, 2023 2016 13 In January 2017, 2017 04, 350 2 1 2 not 2017 04 zero 2 December 15, 2019. March 1, 2020 ( first 2021 not In December 2019, 2019 12, 740 December 15, 2020 March 1, 2021 not

Note 2 - Supplemental Cash Flow

Note 2 - Supplemental Cash Flow Information	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 2 Three Months Ended May 31, 2020 2019 Cash paid (received) for: Interest $ 13,362 $ 9,814 Income taxes (340 ) 8,481 Non-cash Operating Activities Accrued Inventory 158,834 166,649 Non-cash Financing Activities Dividend payable $ - $ 715,899

Note 3 - Revenue From Contracts

Note 3 - Revenue From Contracts With Customers	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 3 Effective March 1, 2018, 606, not not 20 10 not Initial Franchise Fees, License Fees, Transfer Fees and Renewal Fees The Company's policy for recognizing initial franchise and renewal fees through February 28, 2018 not March 1, 2018, 10 15 The following table summarizes contract liabilities as of May 31, 2020 May 31, 2019: Three Months Ended May 31: 2020 2019 Contract liabilities at the beginning of the year: $ 1,155,809 $ 1,352,572 Revenue recognized (55,016 ) (106,280 ) Contract fees received 27,500 16,032 Amortized gain on the financed sale of equipment (1,043 ) (3,133 ) Contract liabilities at the end of the period: $ 1,127,250 $ 1,259,191 On May 31, 2020, not FYE 21 $ 146,360 FYE 22 183,708 FYE 23 171,978 FYE 24 139,353 FYE 25 126,070 Thereafter 359,781 Total $ 1,127,250 Gift Cards The Company’s franchisees sell gift cards which do not not 606 not 606

Note 4 - Disaggregation of Reve

Note 4 - Disaggregation of Revenue	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Disaggregation of Revenue [Text Block]	NOTE 4 The following table presents disaggregated revenue by method of recognition and segment: Three Months Ended May 31, 2020 Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 41,702 $ - $ - $ 13,314 $ 55,016 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 2,134,615 - - 2,134,615 Retail sales - - 59,981 127,615 187,596 Royalty and marketing fees 212,092 - - 113,118 325,210 Total $ 253,794 $ 2,134,615 $ 59,981 $ 254,047 $ 2,702,437 Three Months Ended May 31, 2019 Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 80,019 $ - $ - $ 26,261 $ 106,280 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 5,606,020 - - 5,606,020 Retail sales - - 232,419 622,172 854,591 Royalty and marketing fees 1,347,736 - - 511,372 1,859,108 Total $ 1,427,755 $ 5,606,020 $ 232,419 $ 1,159,805 $ 8,425,999

Note 5 - Inventories

Note 5 - Inventories	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 Inventories consist of the following inventory at May 31, 2019 February 28, 2019: May 31, 2020 February 29, 2020 Ingredients and supplies $ 2,355,461 $ 2,186,652 Finished candy 2,034,297 1,827,767 U-Swirl food and packaging 42,086 56,708 Reserve for slow moving inventory (291,017 ) (320,149 ) Total inventories $ 4,140,827 $ 3,750,978

Note 6 - Property and Equipment

Note 6 - Property and Equipment, Net	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6 Property and equipment at May 31, 2020 February 29, 2020 May 31, 2020 February 29, 2020 Land $ 513,618 $ 513,618 Building 5,031,395 5,031,395 Machinery and equipment 10,470,117 10,664,396 Furniture and fixtures 805,139 852,557 Leasehold improvements 985,407 1,154,396 Transportation equipment 440,989 440,989 18,246,665 18,657,351 Less accumulated depreciation (12,543,081 ) (12,719,338 ) Property and equipment, net $ 5,703,584 $ 5,938,013 Depreciation expense related to property and equipment totaled $194,557 $201,110 three May 31, 2020 2019,

Note 7 - Goodwill and Intangibl

Note 7 - Goodwill and Intangible Assets	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7 Intangible assets at May 31, 2020 February 28, 2020 May 31, 2020 February 29, 2020 Amortization Gross Carrying Accumulated Gross Carrying Accumulated Intangible assets subject to amortization Store design 10 $ 394,826 $ 216,027 $ 295,779 $ 215,653 Packaging licenses 3 - 5 120,830 120,830 120,830 120,830 Packaging design 10 430,973 430,973 430,973 430,973 Trademark/Non-competition agreements 5 - 20 556,339 313,274 715,339 297,072 Franchise rights 20 5,979,637 3,063,930 5,979,637 2,931,949 Total 7,482,605 4,145,034 7,542,558 3,996,477 Intangible assets not subject to amortization Franchising segment- Company stores goodwill $ 515,065 $ 832,308 Franchising goodwill 97,318 97,318 Manufacturing segment-goodwill 97,318 97,318 Trademark 20,000 20,000 Total goodwill 729,701 1,046,944 Total Intangible Assets $ 8,212,306 $ 4,145,034 $ 8,589,502 $ 3,996,477 Amortization expense related to intangible assets totaled $148,557 $176,544 three May 31, 2020 2019, At May 31, 2020, FYE 21 $ 417,509 FYE 22 466,554 FYE 23 391,988 FYE 24 329,267 FYE 25 277,022 Thereafter 1,281,184 Total $ 3,163,524 During FY 2020, $250,000 $174,000 May 31, 2020.

Note 8 - Impairment of Long-liv

Note 8 - Impairment of Long-lived and Intangible Assets	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Asset Impairment Charges [Text Block]	NOTE 8 We assess the potential impairment of our long-lived assets on an annual basis or whenever events or changes in circumstances indicate the carrying value of the assets or asset group may not 19 three May 31, 2020. $545,000 The assessment of our goodwill, trademark and long lived asset fair values includes many assuptions that are subject to risk and uncertainties. The primary assumptions, which are all Level 3 ● Expected future cash flows from operation of our Company-owned units. ● Forecasted future royalty revenue, marketing revenue and associated expenses. ● Projected rate of royalty savings on trademarks. ● Our cost of capital. As of May 31, 2020 Company store goodwill impairment $ 317,243 Trademark intangible asset impairment 159,000 Company-owned store impairment of long-lived assets and inventory 68,558 Total $ 544,801 Certain interim tests did not 19 not

Note 9 - Line of Credit and Lon

Note 9 - Line of Credit and Long-term Debt	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 9 The Company has a $5.0 March 16, 2020, 19 $3.4 $5.0 50% 50% 2.25% 2.4% May 31, 2020). May 31, 2020, not $1.5 twelve May 31, 2020. 19, June 26, 2020 October 30, 2015 not 19 no September 2021 19. The Company’s long-term debt is comprised of promissory notes pursuant to the Paycheck Protection Program, under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) administered by the U.S. Small Business Administration (the “SBA Loans”). The Company received total proceeds of $1.5 April 2022 1.00% may no May 31, 2020 The SBA Loans contains customary events of default relating to, among other things, payment defaults and breaches of representations and warranties. Subject to certain conditions, the SBA Loans may 60 75% No May 31, 2020 $3,200 As of May 31, 2020 February 28, 2020, May 31, 2020 February 29, 2020 Paycheck protection program note payable in monthly installments of principal and interest at 1.0% per annum through April 2022 $ 1,538,424 $ - Less: current maturities (590,377 ) - Long-term obligations $ 948,047 $ -

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 Cash Dividend The Company paid a quarterly cash dividend of $0.12 March 15, 2019 March 5, 2019. $0.12 June 14, 2019 June 4, 2019. $0.12 September 13, 2019 September 4, 2019. $0.12 December 6, 2019 November 22, 2019. $0.12 March 13, 2020 February 28, 2020. Future declarations of dividends will depend on, among other things, the Company's results of operations, financial condition, capital requirements, and on such other factors as the Company's Board of Directors may As previously announced on May 11, 2020, first 19. Stock Repurchases On July 15, 2014, $3.0 January 13, 2015, $2,058,000 May 21, 2015, $2,090,000 not three May 31, 2020 2019. May 31, 2020, $638,000 Warrants In consideration of Edible entering into the exclusive supplier agreement and the performance of its obligations therein, on December 20, 2019, 960,677 $8.76 five six fifth The Company determined that the grant date fair value of the warrants was de minimis and did not Stock-Based Compensation Under the Company’s 2007 “2007 may The Company recognized $143,718 three May 31, 2020 $231,254 three May 31, 2019. The following table summarizes non-vested restricted stock unit transactions for common stock during the three May 31, 2020 2019: Three Months Ended May 31, 2020 2019 Outstanding non-vested restricted stock units as of February 28 or 29: 265,555 25,002 Granted - 270,000 Vested (41,131 ) - Cancelled/forfeited - - Outstanding non-vested restricted stock units as of May 31: 224,424 295,002 Weighted average grant date fair value $ 9.39 $ 9.62 Weighted average remaining vesting period (in years) 4.33 4.94 The Company did not three May 31, 2020 4,500 three May 31, 2019. $0 $42,525 three May 31, 2020 2019, During the three May 31, 2020, $143,718 $188,729 three May 31, 2019. five six May 31, 2020, $1,994,662, 4.33 During the three May 31, 2019, 270,000 $2,536,100 $9.39 no three May 31, 2020. five six The Company has no May 31, 2020.

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 11 Basic earnings per share is calculated using the weighted-average number of common shares outstanding. Diluted earnings per share reflects the potential dilution that could occur from common shares issuable through the settlement of restricted stock units. Restricted stock units become dilutive within the period granted and remain dilutive until the units vest and are issued as common stock. The weighted-average number of shares outstanding used in the computation of diluted earnings per share does not three May 31, 2020, 960,677 209,960

Note 12 - Leasing Arrangements

Note 12 - Leasing Arrangements	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 12 The Company conducts its retail operations in facilities leased under non-cancelable operating leases of up to ten five ten The Company acts as primary lessee of some franchised store premises, which the Company then subleases to franchisees, but the majority of existing locations are leased by the franchisee directly. Currently, there are not In some instances, the Company has leased space for its Company-owned locations that are now occupied by franchisees. When the Company-owned location was sold or transferred, the store was subleased to the franchisee who is responsible for the monthly rent and other obligations under the lease. The Company also leases trucking equipment and warehouse space in support of its manufacturing operations. Expense associated with trucking and warehouse leases is included in cost of sales on the consolidated statements of operations. ASU 2016 02 not The Company accounts for payments related to lease liabilities on a straight-line basis over the lease term. As of May 31, 2020 2019, $212,063 $238,666, The amount of the Right of Use Asset and Lease Liability recorded upon the adoption of ASU 2016 02 $3.3 not not not not 3.4% May 31, 2020. $2.8 As of May 31, 2020, FYE 21 $ 616,088 FYE 22 694,755 FYE 23 437,445 FYE 24 315,962 FYE 25 164,223 Thereafter 552,817 Total $ 2,781,290 Less: imputed interest (262,846 ) Present value of lease liabilities: $ 2,518,444 Weighted average lease term 6.7

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 13 Purchase contracts The Company frequently enters into purchase contracts of between six eighteen may may may May 31, 2020, $227,000 not

Note 14 - FTD Loss Contingency

Note 14 - FTD Loss Contingency	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Contingencies Disclosure [Text Block]	NOTE 14 In June 2019, 11 The Company has historically conducted business with FTD under a Gourmet Foods Supplier Agreement (the “Supplier Agreement”), that among other provisions, provided assurance that custom inventory purchased by the Company and developed specifically for FTD would be purchased by FTD upon termination of the Supplier Agreement. On September 23, 2019, not As a result of FTD’s bankruptcy, the sale of certain assets, and the court’s approval to reject and not May 31, 2020 2020, $230,384 not not As of May 31, 2020, May 31, 2020 Ingredients and supplies $ 296,019 Finished candy 20,562 Accounts receivable 79,744 Reserve for estimated losses (198,054 ) Total potential loss, contingent upon the bankruptcy proceedings $ 198,271

Note 15 - Income Taxes

Note 15 - Income Taxes	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 15 Under the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) a net operating loss (“NOL”) arising during the Company’s fiscal year 2021 five 2016 2020. five 21% 34%, February 28, 2018. The Company’s deferred tax assets are valued at the current federally enacted rate of 21%. 2021 may 21%. As of May 31, 2020, no not

Note 16 - Operating Segments

Note 16 - Operating Segments	3 Months Ended
	May 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 16 The Company classifies its business interests into five 1 10 February 29, 2020. ROCKY MOUNTAIN CHOCOLATE FACTORY, INC. AND SUBSIDIARIES Three Months Ended May 31, 2020 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 254,477 $ 2,293,093 $ 59,981 $ 254,047 $ - $ 2,861,598 Intersegment revenues (683 ) (158,478 ) - - - (159,161 ) Revenue from external customers 253,794 2,134,615 59,981 254,047 - 2,702,437 Segment profit (loss) (451,319 ) (783,469 ) (477,825 ) (457,718 ) (2,676,394 ) (4,846,725 ) Total assets 1,090,475 10,430,680 604,386 5,565,436 11,417,149 29,108,126 Capital expenditures - 13,854 - 1,712 6,922 22,488 Total depreciation & amortization $ 10,138 $ 161,830 $ 3,403 $ 146,949 $ 20,795 $ 343,115 Three Months Ended May 31, 2019 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 1,429,041 $ 5,866,472 $ 232,419 $ 1,159,805 $ - $ 8,687,737 Intersegment revenues (1,286 ) (260,452 ) - - - (261,738 ) Revenue from external customers 1,427,755 5,606,020 232,419 1,159,805 - 8,425,999 Segment profit (loss) 617,910 1,168,687 (15,012 ) 279,163 (1,106,964 ) 943,784 Total assets 1,275,471 11,660,148 992,148 6,330,540 9,290,136 29,548,443 Capital expenditures 10,540 223,552 9,518 - 39,938 283,548 Total depreciation & amortization $ 10,830 $ 150,132 $ 2,611 $ 190,769 $ 23,312 $ 377,654

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying consolidated financial statements have been prepared by the Company, without audit, and reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting and Securities and Exchange Commission (the “SEC”) regulations. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the consolidated financial statements reflect all adjustments (of a normal and recurring nature) which are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The results of operations for the three May 31, 2020 not These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10 February 29, 2020.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management evaluated all activity of the Company through the issue date of the financial statements and concluded that no
COVID-19 Update [Policy Text Block]	COVID- 19 As discussed in more detail throughout this Quarterly Report on Form 10 May 31, 2020 ( 19 19, not May 2020 March 2020 April 2020, 19, 19 In addition, as previously announced on May 11, 2020, first 19 During this challenging time, the Company’s foremost priority is the safety and well-being of our employees, customers, franchisees and communities. In addition to the already stringent practices for the quality and safety of the Company’s confections, the Company is diligently following health and safety guidance issued by the World Health Organization, the Centers for Disease Control and state and local governmental agencies. COVID- 19 may 19 In these challenging and unprecedented times, management is taking all necessary and appropriate action to maximize liquidity as the Company navigates the current landscape. These actions include significantly reducing operating expenses and production volume to reflect reduced sales volumes as well as the elimination of all non-essential spending and capital expenditures. Further, in an abundance of caution and to maintain ample financial flexibility, the Company drew down the full amount under our line of credit and the Company received loans under the Paycheck Protection Program (the “PPP”). At May 31, 2020 $1.54 1A 19 May 10 May 29, 2020
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Except for the recent accounting pronouncements described below, other recent accounting pronouncements are not In June 2016, 2016 13, 326 2016 13 2016 13 2016 13 March 1, 2023 2016 13 In January 2017, 2017 04, 350 2 1 2 not 2017 04 zero 2 December 15, 2019. March 1, 2020 ( first 2021 not In December 2019, 2019 12, 740 December 15, 2020 March 1, 2021 not

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Number of Stores [Table Text Block]	Sold, Not Yet Open Open 1 Total Rocky Mountain Chocolate Factory Company-owned stores - 2 2 Franchise stores - Domestic stores and kiosks 3 171 174 International license stores 1 61 62 Cold Stone Creamery - co-branded 5 98 103 U-Swirl (Including all associated brands) - Company-owned stores - co-branded - 3 3 Franchise stores - Domestic stores - 74 74 Franchise stores - Domestic - co-branded 1 7 8 International license stores - 2 2 Total 10 418 428

Note 2 - Supplemental Cash Fl_2

Note 2 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Three Months Ended May 31, 2020 2019 Cash paid (received) for: Interest $ 13,362 $ 9,814 Income taxes (340 ) 8,481 Non-cash Operating Activities Accrued Inventory 158,834 166,649 Non-cash Financing Activities Dividend payable $ - $ 715,899

Note 3 - Revenue From Contrac_2

Note 3 - Revenue From Contracts With Customers (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Three Months Ended May 31: 2020 2019 Contract liabilities at the beginning of the year: $ 1,155,809 $ 1,352,572 Revenue recognized (55,016 ) (106,280 ) Contract fees received 27,500 16,032 Amortized gain on the financed sale of equipment (1,043 ) (3,133 ) Contract liabilities at the end of the period: $ 1,127,250 $ 1,259,191
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	FYE 21 $ 146,360 FYE 22 183,708 FYE 23 171,978 FYE 24 139,353 FYE 25 126,070 Thereafter 359,781 Total $ 1,127,250

Note 4 - Disaggregation of Re_2

Note 4 - Disaggregation of Revenue (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 41,702 $ - $ - $ 13,314 $ 55,016 Franchising Manufacturing Retail U-Swirl Total Factory sales - 2,134,615 - - 2,134,615 Retail sales - - 59,981 127,615 187,596 Royalty and marketing fees 212,092 - - 113,118 325,210 Total $ 253,794 $ 2,134,615 $ 59,981 $ 254,047 $ 2,702,437 Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 80,019 $ - $ - $ 26,261 $ 106,280 Franchising Manufacturing Retail U-Swirl Total Factory sales - 5,606,020 - - 5,606,020 Retail sales - - 232,419 622,172 854,591 Royalty and marketing fees 1,347,736 - - 511,372 1,859,108 Total $ 1,427,755 $ 5,606,020 $ 232,419 $ 1,159,805 $ 8,425,999

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	May 31, 2020 February 29, 2020 Ingredients and supplies $ 2,355,461 $ 2,186,652 Finished candy 2,034,297 1,827,767 U-Swirl food and packaging 42,086 56,708 Reserve for slow moving inventory (291,017 ) (320,149 ) Total inventories $ 4,140,827 $ 3,750,978

Note 6 - Property and Equipme_2

Note 6 - Property and Equipment, Net (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	May 31, 2020 February 29, 2020 Land $ 513,618 $ 513,618 Building 5,031,395 5,031,395 Machinery and equipment 10,470,117 10,664,396 Furniture and fixtures 805,139 852,557 Leasehold improvements 985,407 1,154,396 Transportation equipment 440,989 440,989 18,246,665 18,657,351 Less accumulated depreciation (12,543,081 ) (12,719,338 ) Property and equipment, net $ 5,703,584 $ 5,938,013

Note 7 - Goodwill and Intangi_2

Note 7 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	May 31, 2020 February 29, 2020 Amortization Gross Carrying Accumulated Gross Carrying Accumulated Intangible assets subject to amortization Store design 10 $ 394,826 $ 216,027 $ 295,779 $ 215,653 Packaging licenses 3 - 5 120,830 120,830 120,830 120,830 Packaging design 10 430,973 430,973 430,973 430,973 Trademark/Non-competition agreements 5 - 20 556,339 313,274 715,339 297,072 Franchise rights 20 5,979,637 3,063,930 5,979,637 2,931,949 Total 7,482,605 4,145,034 7,542,558 3,996,477 Intangible assets not subject to amortization Franchising segment- Company stores goodwill $ 515,065 $ 832,308 Franchising goodwill 97,318 97,318 Manufacturing segment-goodwill 97,318 97,318 Trademark 20,000 20,000 Total goodwill 729,701 1,046,944 Total Intangible Assets $ 8,212,306 $ 4,145,034 $ 8,589,502 $ 3,996,477
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	FYE 21 $ 417,509 FYE 22 466,554 FYE 23 391,988 FYE 24 329,267 FYE 25 277,022 Thereafter 1,281,184 Total $ 3,163,524

Note 8 - Impairment of Long-l_2

Note 8 - Impairment of Long-lived and Intangible Assets (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block]	Company store goodwill impairment $ 317,243 Trademark intangible asset impairment 159,000 Company-owned store impairment of long-lived assets and inventory 68,558 Total $ 544,801

Note 9 - Line of Credit and L_2

Note 9 - Line of Credit and Long-term Debt (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	May 31, 2020 February 29, 2020 Paycheck protection program note payable in monthly installments of principal and interest at 1.0% per annum through April 2022 $ 1,538,424 $ - Less: current maturities (590,377 ) - Long-term obligations $ 948,047 $ -

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Three Months Ended May 31, 2020 2019 Outstanding non-vested restricted stock units as of February 28 or 29: 265,555 25,002 Granted - 270,000 Vested (41,131 ) - Cancelled/forfeited - - Outstanding non-vested restricted stock units as of May 31: 224,424 295,002 Weighted average grant date fair value $ 9.39 $ 9.62 Weighted average remaining vesting period (in years) 4.33 4.94

Note 12 - Leasing Arrangements

Note 12 - Leasing Arrangements (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	FYE 21 $ 616,088 FYE 22 694,755 FYE 23 437,445 FYE 24 315,962 FYE 25 164,223 Thereafter 552,817 Total $ 2,781,290 Less: imputed interest (262,846 ) Present value of lease liabilities: $ 2,518,444 Weighted average lease term 6.7

Note 14 - FTD Loss Contingency

Note 14 - FTD Loss Contingency (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Loss Contingencies by Contingency [Table Text Block]	May 31, 2020 Ingredients and supplies $ 296,019 Finished candy 20,562 Accounts receivable 79,744 Reserve for estimated losses (198,054 ) Total potential loss, contingent upon the bankruptcy proceedings $ 198,271

Note 16 - Operating Segments (T

Note 16 - Operating Segments (Tables)	3 Months Ended
	May 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended May 31, 2020 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 254,477 $ 2,293,093 $ 59,981 $ 254,047 $ - $ 2,861,598 Intersegment revenues (683 ) (158,478 ) - - - (159,161 ) Revenue from external customers 253,794 2,134,615 59,981 254,047 - 2,702,437 Segment profit (loss) (451,319 ) (783,469 ) (477,825 ) (457,718 ) (2,676,394 ) (4,846,725 ) Total assets 1,090,475 10,430,680 604,386 5,565,436 11,417,149 29,108,126 Capital expenditures - 13,854 - 1,712 6,922 22,488 Total depreciation & amortization $ 10,138 $ 161,830 $ 3,403 $ 146,949 $ 20,795 $ 343,115 Three Months Ended May 31, 2019 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 1,429,041 $ 5,866,472 $ 232,419 $ 1,159,805 $ - $ 8,687,737 Intersegment revenues (1,286 ) (260,452 ) - - - (261,738 ) Revenue from external customers 1,427,755 5,606,020 232,419 1,159,805 - 8,425,999 Segment profit (loss) 617,910 1,168,687 (15,012 ) 279,163 (1,106,964 ) 943,784 Total assets 1,275,471 11,660,148 992,148 6,330,540 9,290,136 29,548,443 Capital expenditures 10,540 223,552 9,518 - 39,938 283,548 Total depreciation & amortization $ 10,830 $ 150,132 $ 2,611 $ 190,769 $ 23,312 $ 377,654

Note 1 - Nature of Operations_3

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) - USD ($)	May 31, 2020	Feb. 29, 2020
Notes Payable, Current, Total	$ 590,377
SBA Loans [Member]
Notes Payable, Current, Total	$ 1,540,000
USwirl Inc [Member]
Noncontrolling Interest, Ownership Percentage by Parent	46.00%

Note 1 - Nature of Operations_4

Note 1 - Nature of Operations and Basis of Presentation - Number of Stores (Details)	May 31, 2020
Number of stores	428
Sold Not Yet Open [Member]
Number of stores	10
Open [Member]
Number of stores	418	[1]
Company Owned Stores [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	2
Company Owned Stores [Member] | Sold Not Yet Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	0
Company Owned Stores [Member] | Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	2	[1]
Franchise Stores - Domestic Stores and Kiosks [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	174
Franchise Stores - Domestic Stores and Kiosks [Member] | Sold Not Yet Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	3
Franchise Stores - Domestic Stores and Kiosks [Member] | Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	171	[1]
International License Stores [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	62
International License Stores [Member] | USwirl Inc [Member]
Number of stores	2
International License Stores [Member] | Sold Not Yet Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	1
International License Stores [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member]
Number of stores	0
International License Stores [Member] | Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	61	[1]
International License Stores [Member] | Open [Member] | USwirl Inc [Member]
Number of stores	2	[1]
Cold Stone Creamery - Co-Branded [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	103
Cold Stone Creamery - Co-Branded [Member] | Sold Not Yet Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	5
Cold Stone Creamery - Co-Branded [Member] | Open [Member] | Rocky Mountain Chocolate Factory [Member]
Number of stores	98	[1]
Company Owned Stores Co-branded [Member] | USwirl Inc [Member]
Number of stores	3
Company Owned Stores Co-branded [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member]
Number of stores	0
Company Owned Stores Co-branded [Member] | Open [Member] | USwirl Inc [Member]
Number of stores	3	[1]
Franchise Stores - Domestic Stores [Member] | USwirl Inc [Member]
Number of stores	74
Franchise Stores - Domestic Stores [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member]
Number of stores
Franchise Stores - Domestic Stores [Member] | Open [Member] | USwirl Inc [Member]
Number of stores	74	[1]
Franchise Stores - Domestic Stores - Co-Branded [Member] | USwirl Inc [Member]
Number of stores	8
Franchise Stores - Domestic Stores - Co-Branded [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member]
Number of stores	1
Franchise Stores - Domestic Stores - Co-Branded [Member] | Open [Member] | USwirl Inc [Member]
Number of stores	7	[1]
[1]	Stores open and operating includes stores that have closed temporarily, the result of COVID-19.

Note 2 - Supplemental Cash Fl_3

Note 2 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Interest	$ 13,362	$ 9,814
Income taxes	(340)	8,481
Accrued Inventory	158,834	166,649
Dividend payable		$ 715,899

Note 3 - Revenue From Contrac_3

Note 3 - Revenue From Contracts With Customers (Details Textual)	3 Months Ended
	May 31, 2020
Customers Contracts, Term (Year)	10 years
Maximum [Member]
Customers Contracts, Term (Year)	20 years
Franchise Agreement, Term (Year)	15 years
Minimum [Member]
Franchise Agreement, Term (Year)	10 years

Note 3 - Revenue From Contrac_4

Note 3 - Revenue From Contracts With Customers - Contract Liabilities (Details) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Contract liabilities at the beginning of the year:	$ 1,155,809	$ 1,352,572
Revenue recognized	(55,016)	(106,280)
Contract fees received	27,500	16,032
Amortized gain on the financed sale of equipment	(1,043)	(3,133)
Contract liabilities at the end of the period:	$ 1,127,250	$ 1,259,191

Note 3 - Revenue From Contrac_5

Note 3 - Revenue From Contracts With Customers - Remaining Performance Obligation (Details)	May 31, 2020USD ($)
Revenue, remaining performance obligation, amount	$ 1,127,250

Note 3 - Revenue From Contrac_6

Note 3 - Revenue From Contracts With Customers - Remaining Performance Obligation 2 (Details)	May 31, 2020USD ($)
Revenue, remaining performance obligation, amount	$ 1,127,250
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 146,360
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 183,708
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 171,978
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 139,353
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 126,070
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, remaining performance obligation, amount	$ 359,781

Note 4 - Disaggregation of Re_3

Note 4 - Disaggregation of Revenue - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Revenues	$ 2,702,437	$ 8,425,999
Franchising [Member]
Revenues	253,794	1,427,755
Manufacturing [Member]
Revenues	2,134,615	5,606,020
Retail Segment [Member]
Revenues	59,981	232,419
USwirl Inc [Member]
Revenues	254,047	1,159,805
Franchise Fees [Member] | Transferred over Time [Member]
Revenues	55,016	106,280
Franchise Fees [Member] | Transferred over Time [Member] | Franchising [Member]
Revenues	41,702	80,019
Franchise Fees [Member] | Transferred over Time [Member] | Manufacturing [Member]
Revenues
Franchise Fees [Member] | Transferred over Time [Member] | Retail Segment [Member]
Revenues
Franchise Fees [Member] | Transferred over Time [Member] | USwirl Inc [Member]
Revenues	13,314	26,261
Factory Sales [Member] | Transferred at Point in Time [Member]
Revenues	2,134,615	5,606,020
Factory Sales [Member] | Transferred at Point in Time [Member] | Franchising [Member]
Revenues
Factory Sales [Member] | Transferred at Point in Time [Member] | Manufacturing [Member]
Revenues	2,134,615	5,606,020
Factory Sales [Member] | Transferred at Point in Time [Member] | Retail Segment [Member]
Revenues
Factory Sales [Member] | Transferred at Point in Time [Member] | USwirl Inc [Member]
Revenues
Retail [Member] | Transferred at Point in Time [Member]
Revenues	187,596	854,591
Retail [Member] | Transferred at Point in Time [Member] | Franchising [Member]
Revenues
Retail [Member] | Transferred at Point in Time [Member] | Manufacturing [Member]
Revenues
Retail [Member] | Transferred at Point in Time [Member] | Retail Segment [Member]
Revenues	59,981	232,419
Retail [Member] | Transferred at Point in Time [Member] | USwirl Inc [Member]
Revenues	127,615	622,172
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member]
Revenues	325,210	1,859,108
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | Franchising [Member]
Revenues	212,092	1,347,736
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | Manufacturing [Member]
Revenues
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | Retail Segment [Member]
Revenues
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | USwirl Inc [Member]
Revenues	$ 113,118	$ 511,372

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($)	May 31, 2020	Feb. 29, 2020
Ingredients and supplies	$ 2,355,461	$ 2,186,652
Finished candy	2,034,297	1,827,767
U-Swirl food and packaging	42,086	56,708
Reserve for slow moving inventory	(291,017)	(320,149)
Total inventories	$ 4,140,827	$ 3,750,978

Note 6 - Property and Equipme_3

Note 6 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019
Depreciation, Total	$ 194,557	$ 201,110

Note 6 - Property and Equipme_4

Note 6 - Property and Equipment, Net - Property and Equipment (Details) - USD ($)	May 31, 2020	Feb. 29, 2020
Property, plant and equipment, gross	$ 18,246,665	$ 18,657,351
Less accumulated depreciation	(12,543,081)	(12,719,338)
Property and equipment, net	5,703,584	5,938,013
Land [Member]
Property, plant and equipment, gross	513,618	513,618
Building [Member]
Property, plant and equipment, gross	5,031,395	5,031,395
Machinery and Equipment [Member]
Property, plant and equipment, gross	10,470,117	10,664,396
Furniture and Fixtures [Member]
Property, plant and equipment, gross	805,139	852,557
Leasehold Improvements [Member]
Property, plant and equipment, gross	985,407	1,154,396
Transportation Equipment [Member]
Property, plant and equipment, gross	$ 440,989	$ 440,989

Note 7 - Goodwill and Intangi_3

Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		12 Months Ended	14 Months Ended
	May 31, 2020	May 31, 2019	Feb. 29, 2020	May 31, 2020
Amortization of Intangible Assets, Total	$ 148,557	$ 176,544
Store Design [Member]
Intangible Assets, Expected to Add During Period			$ 250,000
Finite-Lived Intangible Assets, Period Increase (Decrease), Total				$ 174,000

Note 7 - Goodwill and Intangi_4

Note 7 - Goodwill and Intangible Assets - Indefinite-lived Intangible Assets (Details) - USD ($)	3 Months Ended
	May 31, 2020	Feb. 29, 2020
Intangible assets subject to amortization, gross carrying value	$ 7,482,605	$ 7,542,558
Intangible assets subject to amortization, accumulated amortization	4,145,034	3,996,477
Intangible assets not subject to amortization, gross carrying value	729,701	1,046,944
Total Intangible Assets	8,212,306	8,589,502
Intangible assets not subject to amortization, accumulated goodwill impairment	4,145,034	3,996,477
Company Stores Goodwill [Member]
Intangible assets not subject to amortization, gross carrying value	515,065	832,308
Franchising Goodwill [Member]
Intangible assets not subject to amortization, gross carrying value	97,318	97,318
Manufacturing Segment Goodwill [Member]
Intangible assets not subject to amortization, gross carrying value	97,318	97,318
Trademarks [Member]
Intangible assets not subject to amortization, gross carrying value	$ 20,000	20,000
Store Design [Member]
Amortization Period (Year)	10 years
Intangible assets subject to amortization, gross carrying value	$ 394,826	295,779
Intangible assets subject to amortization, accumulated amortization	216,027	215,653
Packaging Licenses [Member]
Intangible assets subject to amortization, gross carrying value	120,830	120,830
Intangible assets subject to amortization, accumulated amortization	$ 120,830	120,830
Packaging Licenses [Member] | Minimum [Member]
Amortization Period (Year)	3 years
Packaging Licenses [Member] | Maximum [Member]
Amortization Period (Year)	5 years
Packaging Design [Member]
Amortization Period (Year)	10 years
Intangible assets subject to amortization, gross carrying value	$ 430,973	430,973
Intangible assets subject to amortization, accumulated amortization	430,973	430,973
Trademarks and Non Competition Agreement [Member]
Intangible assets subject to amortization, gross carrying value	556,339	715,339
Intangible assets subject to amortization, accumulated amortization	$ 313,274	297,072
Trademarks and Non Competition Agreement [Member] | Minimum [Member]
Amortization Period (Year)	5 years
Trademarks and Non Competition Agreement [Member] | Maximum [Member]
Amortization Period (Year)	20 years
Franchise Rights [Member]
Amortization Period (Year)	20 years
Intangible assets subject to amortization, gross carrying value	$ 5,979,637	5,979,637
Intangible assets subject to amortization, accumulated amortization	$ 3,063,930	$ 2,931,949

Note 7 - Goodwill and Intangi_5

Note 7 - Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details)	May 31, 2020USD ($)
FYE 21	$ 417,509
FYE 22	466,554
FYE 23	391,988
FYE 24	329,267
FYE 25	277,022
Thereafter	1,281,184
Total	$ 3,163,524

Note 8 - Impairment of Long-l_3

Note 8 - Impairment of Long-lived and Intangible Assets (Details Textual)	3 Months Ended
	May 31, 2020USD ($)
Asset Impairment Charges, Total	$ 544,801
General and Administrative Expense [Member] | COVID-19 Pandemic [Member]
Asset Impairment Charges, Total	$ 545,000

Note 8 - Impairment of Long-l_4

Note 8 - Impairment of Long-lived and Intangible Assets - Costs Associated with Impairment of Long-lived and Intangible Assets (Details)	3 Months Ended
	May 31, 2020USD ($)
Company store goodwill impairment	$ 317,243
Trademark intangible asset impairment	159,000
Company-owned store impairment of long-lived assets and inventory	68,558
Total	$ 544,801

Note 9 - Line of Credit and L_3

Note 9 - Line of Credit and Long-term Debt (Details Textual) - USD ($)	Mar. 16, 2020	May 31, 2020	May 31, 2019
Proceeds from Notes Payable, Total		$ 1,537,200
SBA Loans [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.00%
Proceeds from Notes Payable, Total	$ 1,500,000
Interest Expense, Debt, Total		$ 3,200
Eligible Accounts Receivable [Member]
Maximum Draws Allowed	50.00%
Eligible Inventories [Member]
Maximum Draws Allowed	50.00%
Line of Credit [Member] | Wells Fargo Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000	$ 5,000,000
Proceeds from Lines of Credit, Total	$ 3,400,000
Debt Instrument, Interest Rate, Stated Percentage		2.40%
Debt Instrument, Covenant, Adjusted EBITDA		$ 1,500,000
Line of Credit [Member] | Wells Fargo Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%

Note 9 - Line of Credit and L_4

Note 9 - Line of Credit and Long-term Debt - Long-term Note Payable (Details) - USD ($)	May 31, 2020	Feb. 29, 2020
Less: current maturities	$ (590,377)
Long-term obligations	948,047
SBA Loans [Member]
Paycheck protection program note payable in monthly installments of principal and interest at 1.0% per annum through April 2022	1,538,424
Less: current maturities	$ (1,540,000)

Note 9 - Line of Credit and L_5

Note 9 - Line of Credit and Long-term Debt - Long-term Note Payable (Details) (Parentheticals)	May 31, 2020
SBA Loans [Member]
Paycheck protection program note payable interest	1.00%

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity (Details Textual) - USD ($)	Mar. 13, 2020	Dec. 20, 2019	Dec. 06, 2019	Sep. 13, 2019	Jun. 14, 2019	Mar. 15, 2019	May 31, 2020	May 31, 2019	May 21, 2015	Jan. 13, 2015	Jul. 15, 2014
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0.12		$ 0.12	$ 0.12	$ 0.12	$ 0.12
Stock Repurchase Program, Authorized Amount											$ 3,000,000
Stock Repurchase Program, Additional Authorized Amount									$ 2,090,000	$ 2,058,000
Treasury Stock, Shares, Acquired (in shares)							0	0
Stock Repurchase Program, Remaining Authorized Repurchase Amount							$ 638,000
Share-based Payment Arrangement, Expense							$ 143,718	$ 231,254
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)							0
Restricted Stock [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)							0
Unrestricted Shares of Stock [Member]
Share-based Payment Arrangement, Expense							$ 0	$ 42,525
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)								4,500
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expense							143,718	$ 188,729
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total							$ 1,994,662
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)							4 years 120 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)							0	270,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Grant Date Fair Value, Amount								$ 2,536,100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)							$ 9.39	$ 9.39
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)							6 years	6 years
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)							5 years	5 years
Warrant to Purchase Common Stock [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 8.76
Certain Revenue Thresholds, Cumulative Basis Connection with Performance Basis (Year)		5 years
Warrants and Rights Outstanding, Term (Month)		180 days
Warrant to Purchase Common Stock [Member] | Maximum [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		960,677

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity - Restricted Stock Unit Awards Outstanding Under the Plans (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended
	May 31, 2020	May 31, 2019
Outstanding non-vested restricted stock units as of February 28 or 29: (in shares)	265,555	25,002
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	0	270,000
Vested (in shares)	(41,131)
Cancelled/forfeited (in shares)
Outstanding non-vested restricted stock units as of May 31: (in shares)	224,424	295,002
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 9.39	$ 9.39
Weighted average remaining vesting period (Year)	4 years 120 days	4 years 343 days

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual)	3 Months Ended
	May 31, 2020shares
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	960,677
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	209,960

Note 12 - Leasing Arrangement_2

Note 12 - Leasing Arrangements (Details Textual) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019	Feb. 29, 2020	Mar. 01, 2019
Operating Lease, Expense	$ 212,063	$ 238,666
Operating Lease, Liability, Total	2,518,444
Operating Lease, Right-of-Use Asset	$ 2,518,444		$ 2,698,765
Operating Lease, Weighted Average Discount Rate, Percent	3.40%
Lessee, Operating Lease, Liability, to be Paid, Total	$ 2,781,290
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total				$ 3,300,000
Operating Lease, Right-of-Use Asset				$ 3,300,000
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	10 years
Lessee, Operating Lease, Renewal Term (Year)	10 years
Minimum [Member]
Lessee, Operating Lease, Renewal Term (Year)	5 years

Note 12 - Leasing Arrangement_3

Note 12 - Leasing Arrangements - Maturities of Lease Liabilities for Operating Leases (Details)	May 31, 2020USD ($)
FYE 21	$ 616,088
FYE 22	694,755
FYE 23	437,445
FYE 24	315,962
FYE 25	164,223
Thereafter	552,817
Total	2,781,290
Less: imputed interest	(262,846)
Operating Lease, Liability, Total	$ 2,518,444
Weighted average lease term (Year)	6 years 255 days

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual)	3 Months Ended
	May 31, 2020USD ($)
Contractual Obligation, Total	$ 227,000
Minimum [Member]
Purchase Contracts, Term (Month)	180 days
Maximum [Member]
Purchase Contracts, Term (Month)	1 year 180 days

Note 14 - FTD Loss Contingenc_2

Note 14 - FTD Loss Contingency (Details Textual)	12 Months Ended
	Feb. 29, 2020USD ($)
FTD's Bankruptcy [Member]
Loss Contingency, Estimate Loss of Inventory	$ 230,384

Note 14 - FTD Loss Contingenc_3

Note 14 - FTD Loss Contingency - Balances (Details) - FTD's Bankruptcy [Member]	May 31, 2020USD ($)
Possible loss, contingent upon the bankruptcy proceedings	$ 198,271
Reserve for estimated losses	(198,054)
Accounts Receivable [Member]
Possible loss, contingent upon the bankruptcy proceedings	79,744
Ingredients and Supplies [Member] | Inventories [Member]
Possible loss, contingent upon the bankruptcy proceedings	296,019
Finished Candy [Member] | Inventories [Member]
Possible loss, contingent upon the bankruptcy proceedings	$ 20,562

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) $ in Thousands	3 Months Ended
	May 31, 2020USD ($)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
COVID-19 Pandemic [Member]
Tax Adjustments, Settlements, and Unusual Provisions	$ 0

Note 16 - Operating Segments (D

Note 16 - Operating Segments (Details Textual)	3 Months Ended
	May 31, 2020
Number of Reportable Segments	5

Note 16 - Operating Segments -

Note 16 - Operating Segments - Segment Information (Details) - USD ($)	3 Months Ended
	May 31, 2020	May 31, 2019	Feb. 29, 2020
Revenues	$ 2,702,437	$ 8,425,999
Segment profit (loss)	(4,846,725)	943,784
Total assets	29,108,126	29,548,443	$ 27,817,388
Capital expenditures	22,488	283,548
Total depreciation and amortization	343,115	377,654
Franchising [Member]
Revenues	253,794	1,427,755
Segment profit (loss)	(451,319)	617,910
Total assets	1,090,475	1,275,471
Capital expenditures		10,540
Total depreciation and amortization	10,138	10,830
Manufacturing [Member]
Revenues	2,134,615	5,606,020
Segment profit (loss)	(783,469)	1,168,687
Total assets	10,430,680	11,660,148
Capital expenditures	13,854	223,552
Total depreciation and amortization	161,830	150,132
Retail Segment [Member]
Revenues	59,981	232,419
Segment profit (loss)	(477,825)	(15,012)
Total assets	604,386	992,148
Capital expenditures		9,518
Total depreciation and amortization	3,403	2,611
U-Swirl Segment [Member]
Revenues	254,047	1,159,805
Segment profit (loss)	(457,718)	279,163
Total assets	5,565,436	6,330,540
Capital expenditures	1,712
Total depreciation and amortization	146,949	190,769
Other Segments [Member]
Revenues		0
Segment profit (loss)	(2,676,394)	(1,106,964)
Total assets	11,417,149	9,290,136
Capital expenditures	6,922	39,938
Total depreciation and amortization	20,795	23,312
Operating Segments [Member]
Revenues	2,861,598	8,687,737
Operating Segments [Member] | Franchising [Member]
Revenues	254,477	1,429,041
Operating Segments [Member] | Manufacturing [Member]
Revenues	2,293,093	5,866,472
Operating Segments [Member] | Retail Segment [Member]
Revenues	59,981	232,419
Operating Segments [Member] | U-Swirl Segment [Member]
Revenues	254,047	1,159,805
Operating Segments [Member] | Other Segments [Member]
Revenues		0
Intersegment Eliminations [Member]
Revenues	(159,161)	(261,738)
Intersegment Eliminations [Member] | Franchising [Member]
Revenues	(683)	(1,286)
Intersegment Eliminations [Member] | Manufacturing [Member]
Revenues	(158,478)	(260,452)
Intersegment Eliminations [Member] | Retail Segment [Member]
Revenues	0	0
Intersegment Eliminations [Member] | U-Swirl Segment [Member]
Revenues	0	0
Intersegment Eliminations [Member] | Other Segments [Member]
Revenues	$ 0	$ 0