Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | May 11, 2021 | Aug. 31, 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 Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 6,118,995 | ||
Entity Public Float | $ 15,569,088 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Feb. 28, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, $0.001 par value per share; Preferred Stock Purchase Rights |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Revenues | |||
Total revenue | $ 23,480,705 | $ 31,849,796 | $ 34,545,447 |
Costs and Expenses | |||
Cost of sales | 16,118,625 | 18,214,896 | 20,599,551 |
Sales and marketing | 1,712,834 | 1,922,650 | 2,210,800 |
General and administrative | 5,258,035 | 5,735,971 | 3,432,618 |
Depreciation and amortization, exclusive of depreciation and amortization expense of $625,526, $597,430, and $555,926, respectively, included in cost of sales | 710,656 | 895,395 | 1,153,873 |
Costs associated with Company-owned store closures | 57,100 | 15,400 | 226,981 |
Total costs and expenses | 26,954,592 | 30,458,186 | 31,539,495 |
Income (Loss) from Operations | (3,473,887) | 1,391,610 | 3,005,952 |
Other Income (Expense) | |||
Interest expense | (94,506) | (19,016) | (70,787) |
Interest income | 17,662 | 29,738 | 20,496 |
Gain on insurance recovery | 210,464 | ||
Paycheck Protection Program | 1,548,576 | ||
Other income (expense), net | 1,682,196 | 10,722 | (50,291) |
Income Before Income Taxes | (1,791,691) | 1,402,332 | 2,955,661 |
Income Tax Provision | (891,914) | 368,500 | 716,862 |
Consolidated Net Income (Loss) | $ (899,777) | $ 1,033,832 | $ 2,238,799 |
Basic Earnings per Common Share (in dollars per share) | $ (0.15) | $ 0.17 | $ 0.38 |
Diluted Earnings per Common Share (in dollars per share) | $ (0.15) | $ 0.17 | $ 0.37 |
Weighted Average Common Shares Outstanding - Basic (in shares) | 6,067,461 | 5,986,371 | 5,931,431 |
Dilutive Effect of Employee Stock Awards (in shares) | 268,972 | 51,207 | |
Weighted Average Common Shares Outstanding - Diluted (in shares) | 6,067,461 | 6,255,343 | 5,982,638 |
Product [Member] | |||
Revenues | |||
Total revenue | $ 19,179,447 | $ 24,718,968 | $ 27,563,794 |
Franchise and Royalty Fees [Member] | |||
Revenues | |||
Total revenue | 4,301,258 | 7,130,828 | 6,981,653 |
Franchise [Member] | |||
Costs and Expenses | |||
Costs | 1,715,588 | 1,882,185 | 1,980,781 |
Retail [Member] | |||
Costs and Expenses | |||
Costs | $ 1,381,754 | $ 1,791,689 | $ 1,934,891 |
Consolidated Statements of In_2
Consolidated Statements of Income (Parentheticals) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Amortization expense included in cost of goods sold | $ 625,526 | $ 597,430 | $ 555,926 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 5,633,279 | $ 4,822,071 |
Accounts receivable, less allowance for doubtful accounts of $1,341,853 and $638,907, respectively | 2,007,502 | 4,049,959 |
Notes receivable, current portion, less current portion of the valuation allowance of $32,571 and $0, respectively | 84,819 | 160,700 |
Refundable income taxes | 774,527 | 418,319 |
Inventories | 4,062,885 | 3,750,978 |
Other | 213,811 | 409,703 |
Total current assets | 12,776,823 | 13,611,730 |
Property and Equipment, Net | 5,152,015 | 5,938,013 |
Other Assets | ||
Notes receivable, less current portion and valuation allowance of $79,716 and $0, respectively | 42,525 | 289,515 |
Goodwill, net | 729,701 | 1,046,944 |
Franchise rights, net | 2,519,764 | 3,047,688 |
Intangible assets, net | 395,946 | 498,393 |
Deferred income taxes | 1,144,764 | 630,078 |
Lease right of use asset | 1,925,591 | 2,698,765 |
Other | 264,023 | 56,262 |
Total other assets | 7,022,314 | 8,267,645 |
Total Assets | 24,951,152 | 27,817,388 |
Current Liabilities | ||
Accounts payable | 1,297,211 | 2,241,506 |
Accrued salaries and wages | 735,241 | 716,860 |
Gift card liabilities | 617,438 | 609,842 |
Other accrued expenses | 253,345 | 316,751 |
Dividend payable | 722,344 | |
Contract liabilities | 194,737 | 195,658 |
Lease liability | 682,348 | 803,861 |
Total current liabilities | 3,780,320 | 5,606,822 |
Lease Liability, Less Current Portion | 1,278,354 | 1,894,904 |
Contract Liabilities, Less Current Portion | 924,909 | 960,151 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Preferred stock | ||
Common stock, $.001 par value, 46,000,000 shares authorized, 6,074,293 shares and 6,019,532 shares issued and outstanding, respectively | 6,074 | 6,020 |
Additional paid-in capital | 7,971,712 | 7,459,931 |
Retained earnings | 10,989,783 | 11,889,560 |
Total stockholders' equity | 18,967,569 | 19,355,511 |
Total Liabilities and Stockholders' Equity | 24,951,152 | 27,817,388 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred stock | ||
Undesignated Series [Member] | ||
Stockholders' Equity | ||
Preferred stock |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 1,341,853 | $ 638,907 |
Notes receivable, current portion of the valuation allowance | 32,571 | 0 |
Notes receivable, noncurrent portion of valuation allowance | $ 79,716 | $ 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) | 6,074,293 | 6,019,532 |
Common stock, shares outstanding (in shares) | 6,074,293 | 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 Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | Total |
Balance at Feb. 28, 2018 | $ 5,903 | $ 6,131,147 | $ 13,419,553 | ||
Issuance of common stock | 6 | 55,971 | |||
Equity compensation, restricted stock units | 49 | 463,746 | |||
Net (loss) income attributable to RMCF stockholders | 2,238,799 | $ 2,238,799 | |||
Cash dividends declared | (2,851,271) | ||||
Balance at Feb. 28, 2019 | $ 5,958 | 6,650,864 | $ 925,929 | 13,733,010 | 20,389,832 |
Balance (in shares) at Feb. 28, 2018 | 5,903,436 | ||||
Issuance of common stock (in shares) | 5,333 | ||||
Equity compensation, restricted stock units (in shares) | 49,058 | ||||
Balance (in shares) at Feb. 28, 2019 | 5,957,827 | ||||
Issuance of common stock | $ 23 | 210,951 | |||
Equity compensation, restricted stock units | 39 | 598,116 | |||
Net (loss) income attributable to RMCF stockholders | 1,033,832 | 1,033,832 | |||
Cash dividends declared | (2,877,282) | ||||
Balance at Feb. 29, 2020 | $ 6,020 | 7,459,931 | 11,889,560 | 19,355,511 | |
Issuance of common stock (in shares) | 22,870 | ||||
Equity compensation, restricted stock units (in shares) | 38,835 | ||||
Balance (in shares) at Feb. 29, 2020 | 6,019,532 | ||||
Issuance of common stock | |||||
Equity compensation, restricted stock units | 54 | 511,781 | |||
Net (loss) income attributable to RMCF stockholders | (899,777) | (899,777) | |||
Cash dividends declared | |||||
Balance at Feb. 28, 2021 | $ 6,074 | $ 7,971,712 | $ 10,989,783 | $ 18,967,569 | |
Issuance of common stock (in shares) | |||||
Equity compensation, restricted stock units (in shares) | 54,761 | ||||
Balance (in shares) at Feb. 28, 2021 | 6,074,293 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Cash Flows From Operating Activities | |||
Net (Loss) Income | $ (899,777) | $ 1,033,832 | $ 2,238,799 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 1,336,182 | 1,492,825 | 1,709,799 |
Provision for obsolete inventory | 262,156 | 360,614 | 325,478 |
Provision for loss on accounts and notes receivable | 1,257,010 | 197,830 | 155,600 |
Asset impairment and store closure losses | 532,602 | 15,400 | 67,822 |
(Gain) Loss on sale or disposal of property and equipment | (197,037) | 11,174 | 36,024 |
Forgiveness of Paycheck Protection Program | (1,537,200) | ||
Expense recorded for stock compensation | 511,835 | 809,129 | 519,772 |
Deferred income taxes | (514,685) | (22,657) | (78,934) |
Changes in operating assets and liabilities: | |||
Accounts receivable | 1,022,975 | (453,816) | (390,663) |
Refundable income taxes | (356,209) | (228,118) | 157,544 |
Inventories | (617,268) | 297,306 | 41,310 |
Other current assets | 195,891 | (91,577) | (8,225) |
Accounts payable | (901,090) | 1,205,891 | (545,588) |
Accrued liabilities | (2,318) | (47,783) | (84,191) |
Contract liabilities | (25,721) | (184,232) | (129,527) |
Net cash provided by operating activities | 67,346 | 4,395,818 | 4,015,020 |
Cash Flows from Investing Activities | |||
Proceeds received on notes receivable | 85,345 | 146,455 | 102,256 |
Purchase of intangible assets | (99,048) | (75,000) | |
Proceeds from insurance recovery | 304,962 | ||
Proceeds from the sale or distribution of assets | 763 | 13,498 | |
Purchases of property and equipment | (154,492) | (983,941) | (613,786) |
(Increase) decrease in other assets | (207,761) | 314 | (8,140) |
Net cash used in investing activities | (70,994) | (911,409) | (506,172) |
Cash Flows from Financing Activities | |||
Payments on long-term debt | (1,176,488) | (1,352,821) | |
Proceeds from Paycheck Protection Program | 1,537,200 | ||
Dividends paid | (722,344) | (2,869,877) | (2,844,984) |
Net cash provided by (used in) financing activities | 814,856 | (4,046,365) | (4,197,805) |
Net Increase (Decrease) in Cash and Cash Equivalents | 811,208 | (561,956) | (688,957) |
Cash and Cash Equivalents, Beginning of Period | 4,822,071 | 5,384,027 | 6,072,984 |
Cash and Cash Equivalents, End of Period | $ 5,633,279 | $ 4,822,071 | $ 5,384,027 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 28, 2021 | |
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 2021 1,000 no The following table summarizes the number of stores operating under the Rocky Mountain Chocolate Factory brand and its subsidiaries at February 28, 2021: Sold, Not Yet Open Open Total Rocky Mountain Chocolate Factory Company-owned stores - 2 2 Franchise stores - Domestic stores and kiosks 3 158 161 International license stores 1 53 54 Cold Stone Creamery - co-branded 5 96 101 U-Swirl (Including all associated brands) Company-owned stores - co-branded - 3 3 Franchise stores - Domestic stores 1 65 66 Franchise stores - Domestic - co-branded - 6 6 International license stores - 1 1 Total 10 384 394 Consolidation Management accounts for the activities of the Company and its subsidiaries, and the accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three $5.1 February 28, 2021. Accounts and Notes Receivable In the normal course of business, the Company extends credit to customers, primarily franchisees that satisfy pre-defined credit criteria. The Company believes that it has limited concentration of credit risk primarily because its receivables are secured by the assets of the franchisees to which the Company ordinarily extends credit, including, but not may February 28, 2021, $239,631 $112,287 $450,215 $0 February 29, 2020. 4.5% 6%. November 2023 $135,000 may 19. March 1, 2020 2019 $4,049,959 $3,993,262, Inventories Inventories are stated at the lower of cost or net realizable value, which is adjusted for obsolete, damaged and excess inventories to the lower of cost or net realizable value based on actual differences. The inventory value is determined through analysis of items held in inventory, and, if the recorded value is higher than the market value, the Company records an expense to reduce inventory to its actual market value. The process by which the Company performs its analysis is conducted on an item by item basis and takes into account, among other relevant factors, market value, sales history and future sales potential. Cost is determined using the first first Property and Equipment and Other Assets Property and equipment are recorded at cost. Depreciation and amortization are computed using the straight-line method based upon the estimated useful life of the asset, which range from five thirty-nine The Company reviews its long-lived assets through analysis of estimated fair value, including identifiable intangible assets, whenever events or changes indicate the carrying amount of such assets may not Income Taxes The Company provides for income taxes pursuant to the liability method. The liability method requires recognition of deferred income taxes based on temporary differences between financial reporting and income tax basis of assets and liabilities, using current enacted income tax rates and regulations. These differences will result in taxable income or deductions in future years when the reported amount of the asset or liability is recovered or settled, respectively. Considerable judgment is required in determining when these events may not. 2016 2016 100%, 2017. 2016. fourth 2017 382 14. Gift Card Breakage The Company and its franchisees sell gift cards that are redeemable for product in stores. The Company manages the gift card program, and therefore collects all funds from the activation of gift cards and reimburses franchisees for the redemption of gift cards in their stores. A liability for unredeemed gift cards is included current liabilities in the balance sheets. There are no not may not 2014 09, 606” 2019 not 606 $617,438 $609,842 February 28, 2021 February 29, 2020, $53,160 $168,090 2021 2020, 3 606. Goodwill Goodwill arose primarily from two first second The Company performs a goodwill impairment test on an annual basis or more frequently when events or circumstances indicate that the carrying value of a reporting unit more likely than not 2021, 19 three May 31, 2020 ( first 7 Franchise Rights Franchise rights arose from the entry into agreements to acquire substantially all of the franchise rights of Yogurtini, CherryBerry, Fuzzy Peach, Let's Yo! and Yogli Mogli. Franchise rights are amortized over a period of 20 Insurance and Self-Insurance Reserves The Company uses a combination of insurance and self-insurance plans to provide for the potential liabilities for workers' compensation, general liability, property insurance, director and officers' liability insurance, vehicle liability and employee health care benefits. Liabilities associated with the risks that are retained by the Company are estimated, in part, by considering historical claims experience, demographic factors, severity factors and other assumptions. While the Company believes that its assumptions are appropriate, the estimated accruals for these liabilities could be significantly affected if future occurrences and claims differ from these assumptions and historical trends. Sales The Company has performance obligations to sell products to franchisees and other customers, and revenue is recognized at a point in time. Control is transferred when the order has been shipped to a customer, utilizing a third Rebates Rebates received from purveyors that supply products to the Company's franchisees are included in franchise royalties and fees. Product rebates are recognized in the period in which they are earned. Rebates related to Company-owned locations are offset against operating costs. Shipping Fees Shipping fees charged to customers by the Company's trucking department are reported as sales. Shipping costs incurred by the Company for inventory are reported as cost of sales or inventory. Franchise and Royalty Fees Beginning in FY 2019, 606, 10 15 2019, one 1% no ten 10% 2.5% 6% Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities, at the date of the consolidated financial statements, and revenues and expenses during the reporting period. Actual results could differ from those estimates. Vulnerability Due to Certain Concentrations In June 2019, 11 Revenue from FTD represented approximately $243,000 1% February 28, 2021, $1.5 5% February 29, 2020 $3.1 9% February 28, 2019. may As described above, In FY 2020, 2020, January 2021. February 28, 2021, $3.5 15% February 28, 2021, not no Stock-Based Compensation At February 28, 2021, one 2007 The Company recognized $511,835, $866,177, $519,772 February 28 29, 2021, 2020 2019, During FY 2021, not 2020, 280,000 no 2021 2020. 17 20% 5% five six $511,835 2021 $598,155 2020 $463,795 2019. February 28, 2021 $1,614,140, 3.7 The Company did not February 28, 2021 14,078 February 29, 2020 2,000 February 28, 2019. $0, $130,172 $24,480 February 28 29, 2021, 2020 2019, The Company issued 15,000 February 29, 2020 $137,850 February 29, 2020. Earnings Per Share Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding during each year. Diluted earnings per share reflects the potential dilution that could occur from common shares issuable through stock options and restricted stock units. Following the expiration of all outstanding options, during FY 2017, no The weighted-average number of shares outstanding used in the computation of diluted earnings per share does not February 28, 2021, 960,677 217,103 Advertising and Promotional Expenses The Company expenses advertising costs as incurred. Total advertising expense for RMCF amounted to $265,285, $276,602, $275,441 February 28 29, 2021, 2020 2019, $95,215, $203,004, $168,000 February 28 29, 2021, 2020 2019, Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, trade receivables, payables, notes payable and notes receivable. The fair value of all instruments approximates the carrying value, because of the relatively short maturity of these instruments. 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 2017 04 2 2017 04, 1 2 not 2017 04 zero 2 2017 04 March 1, 2020 ( first 2021 2017 04 8. In December 2019, 2019 12, 740 December 15, 2020 2019 12 March 1, 2021 not Related Party Transactions As described above, in FY 2020 2021, 2020 January 2021. February 28, 2021, $3.5 |
Note 2 - Supplemental Cash Flow
Note 2 - Supplemental Cash Flow Information | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 2 For the three February 28 29: Cash paid (received) for: 2021 2020 2019 Interest $ 76,803 $ 20,610 $ 72,619 Income taxes (21,021 ) 619,276 638,252 Non-cash Operating Activities Accrued Inventory 148,254 191,459 52,918 Non-cash Financing Activities Dividend payable $ - $ 722,344 $ 714,939 |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 3 Effective March 1, 2018, 606. 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 February 28, 2021 February 29, 2020: Twelve Months Ended February 29 or 28: 2021 2020 Contract liabilities at the beginning of the year: $ 1,155,809 $ 1,352,572 Revenue recognized (226,720 ) (324,982 ) Contract fees received 201,000 140,750 Amortized gain on the financed sale of equipment (10,443 ) (12,531 ) Contract liabilities at the end of the year: $ 1,119,646 $ 1,155,809 At February 28, 2021, not 2022 $ 194,737 2023 184,224 2024 151,856 2025 136,780 2026 124,489 Thereafter 327,560 Total $ 1,119,646 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 | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Disaggregation of Revenue [Text Block] | NOTE 4 The following table presents disaggregated revenue by the method of recognition and segment: For the Year Ended February 28, 2021 Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 178,042 $ - $ - $ 48,678 $ 226,720 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 17,321,001 - - 17,321,001 Retail sales - - 896,793 961,653 1,858,446 Royalty and marketing fees 3,367,345 - - 707,193 4,074,538 Total $ 3,545,387 $ 17,321,001 $ 896,793 $ 1,717,524 $ 23,480,705 For the Year Ended February 29, 2020 Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Revenues recognized over time under ASC 606: Franchise fees $ 230,543 $ - $ - $ 94,439 $ 324,982 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 21,516,530 - - 21,516,530 Retail sales - - 1,104,171 2,098,267 3,202,438 Royalty and marketing fees 5,300,089 - - 1,505,757 6,805,846 Total $ 5,530,632 $ 21,516,530 $ 1,104,171 $ 3,698,463 $ 31,849,796 |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5 Inventories consist of the following at February 28 29: 2021 2020 Ingredients and supplies $ 2,464,123 $ 2,186,652 Finished candy 1,888,818 1,827,767 U-Swirl food and packaging 39,518 56,708 Reserve for slow moving inventory (329,574 ) (320,149 ) Total inventories $ 4,062,885 $ 3,750,978 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6 Property and equipment consists of the following at February 28 29: 2021 2020 Land $ 513,618 $ 513,618 Building 4,827,807 5,031,395 Machinery and equipment 10,129,508 10,664,396 Furniture and fixtures 797,303 852,557 Leasehold improvements 985,407 1,154,396 Transportation equipment 429,789 440,989 17,683,432 18,657,351 Less accumulated depreciation (12,531,417 ) (12,719,338 ) Property and equipment, net $ 5,152,015 $ 5,938,013 Depreciation expense related to property and equipment totaled $765,764, $786,648, $865,479 February 28 29, 2021, 2020 2019, |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 7 Intangible assets consist of the following at February 28 29: 2021 2020 Amortization Period (in Years) Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Intangible assets subject to amortization Store design 10 $ 394,826 $ 221,504 $ 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 - 20 556,339 333,715 715,339 297,072 Franchise rights 20 5,979,637 3,459,873 5,979,637 2,931,949 Total 7,482,605 4,566,895 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 $ 4,566,895 $ 8,589,502 $ 3,996,477 Amortization expense related to intangible assets totaled $570,418, $706,177, $844,320 February 28 29, 2021, 2020 2019, At February 28, 2021, 2022 $ 483,959 2023 409,393 2024 346,672 2025 294,427 2026 251,342 Thereafter 1,129,917 Total $ 2,915,710 During FY 2020, $174,000 2021. 10 |
Note 8 - Impairment of Long-liv
Note 8 - Impairment of Long-lived and Intangible Assets | 12 Months Ended |
Feb. 28, 2021 | |
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 19 2021, not $476,243 No 2021. The assessment of our goodwill, trademark and long-lived asset fair values includes many assumptions 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 February 28, 2021, Company store goodwill impairment $ 317,243 Trademark intangible asset impairment 159,000 Company-owned store impairment of long-lived assets 57,100 Total $ 533,343 Certain interim tests conducted during the three May 31, 2020 not 19 not three May 31, 2020 no |
Note 9 - Notes Payable
Note 9 - Notes Payable | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 9 Paycheck Protection Program During FY 2021 $1.5 three November 30, 2020, $108,000 three February 28, 2021 $1.4 The amount of loan proceeds eligible for forgiveness was based on a formula based on a number of factors, including the amount of loan proceeds used by the Company during the period after the loan origination for certain purposes, including payroll costs, interest on certain mortgage obligations, rent payments on certain leases, and certain qualified utility payments, provided that, among other things, at least 60 75% Revolving Credit Line The Company has a $5.0 $5.0 February 28, 2021. 2.25% 2.4% February 28, 2021). February 28, 2021, September 2021. |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 10 In FY 2021, 2007 “2007 2007 The following table summarizes stock awards under the 2007 February 28, 2021: Original share authorization: 300,000 Prior plan shares authorized and incorporated in the 2007 Plan: 85,340 Additional shares authorized through 2007 Plan amendments: 600,000 Available for award: 985,340 Cancelled/forfeited: 201,815 Shares awarded as unrestricted shares, stock options or restricted stock units: (866,487 ) Shares available for award: 320,668 Information with respect to restricted stock unit awards outstanding under the 2007 February 28, 2021, three Twelve Months Ended February 28 or 29: 2021 2020 2019 Outstanding non-vested restricted stock units at beginning of year: 265,555 25,002 77,594 Granted - 280,000 - Vested (54,761 ) (38,835 ) (49,058 ) Cancelled/forfeited (1,344 ) (612 ) (3,534 ) Outstanding non-vested restricted stock units as of February 28: 209,450 265,555 25,002 Weighted average grant date fair value $ 9.40 $ 9.39 $ 12.05 Weighted average remaining vesting period (in years) 3.68 4.56 0.38 The Company has no February 28, 2021, February 29, 2020, February 28, 2019. |
Note 11 - Leasing Arrangements
Note 11 - Leasing Arrangements | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 11 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 franchised locations are leased by the franchisee directly. 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 following is a schedule of lease expense for all retail operating leases for the three February 28 29: 2021 2020 2019 Minimum rentals $ 428,421 $ 733,190 $ 1,030,536 Less sublease rentals (113,515 ) (318,000 ) (572,000 ) Contingent rentals 27,803 21,600 22,800 $ 342,708 $ 436,790 $ 481,336 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. The following is a schedule of lease expense for trucking equipment operating leases for the three February 28 29: 2021 2020 2019 340,731 342,297 325,229 ASU 2016 02 not The amount of the ‘Right of Use Asset' and ‘Lease Liability' recorded in the Consolidated Balance Sheets upon the adoption of ASU 2016 02 $3.3 not not not not 3.4% February 28, 2021. $2.2 As of February 28, 2021, FYE 22 $ 694,755 FYE 23 437,445 FYE 24 315,962 FYE 25 164,223 FYE 26 63,727 Thereafter 489,090 Total $ 2,165,202 Less: Imputed interest (204,500 ) Present value of lease liabilities: $ 1,960,702 Weighted average lease term 6.9 The Company did not February 28, 2021. |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 12 Purchase contracts The Company frequently enters into purchase contracts of between six eighteen may may may February 28, 2021, $377,000 not Litigation From time to time, the Company is involved in litigation relating to claims arising out of its operations. The Company records accruals for outstanding legal matters when it believes it is probable that a loss will be incurred and the amount can be reasonably estimated. At February 28, 2021, not |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 13 Cash Dividend The Company paid a quarterly cash dividend of $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 in May 2020, first 19. Stock Repurchases On July 15, 2014, $3.0 February 28, 2021, $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 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14 Income tax expense (benefit) is comprised of the following for the years ended February 28 29: 2021 2020 2019 Current Federal $ (398,303 ) $ 306,000 $ 653,226 State 21,074 85,157 142,570 Total Current (377,229 ) 391,157 795,796 Deferred Federal (441,734 ) (19,350 ) (67,410 ) State (72,951 ) (3,307 ) (11,524 ) Total Deferred (514,685 ) (22,657 ) (78,934 ) Total $ (891,914 ) $ 368,500 $ 716,862 A reconciliation of the statutory federal income tax rate and the effective rate as a percentage of pretax income is as follows for the years ended February 28 29: 2021 2020 2019 Statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 4.0 % 4.6 % 3.4 % Paycheck Protection Program debt forgiveness 18.0 % 0.0 % 0.0 % Work opportunity tax credits 0.2 % (1.1 )% (0.7 )% Equity compensation tax expense (1.7 )% 1.4 % 0.0 % Other 0.1 % 0.4 % 0.5 % Impact of CARES act 8.2 % 0.0 % 0.0 % Effective tax rate 49.8 % 26.3 % 24.2 % During FY 2021 2020 2019. The components of deferred income taxes at February 28 29 2021 2020 Deferred Tax Assets Allowance for doubtful accounts and notes $ 357,573 $ 157,107 Inventories 81,042 78,724 Accrued compensation 140,702 137,786 Loss provisions and deferred income 389,858 397,535 Self-insurance accrual 31,721 37,623 Amortization 396,195 299,373 Restructuring charges 98,693 98,693 Accumulated net losses 445,414 401,699 Valuation allowance (98,693 ) (98,693 ) Net deferred tax assets $ 1,842,505 $ 1,509,847 Deferred Tax Liabilities Depreciation and amortization (653,798 ) (779,023 ) Prepaid expenses (43,943 ) (100,746 ) Deferred Tax Liabilities (697,741 ) (879,769 ) Net deferred tax assets $ 1,144,764 $ 630,078 The following table summarizes deferred income tax valuation allowances as of February 28 29: 2021 2020 Valuation allowance at beginning of period $ 98,693 $ 98,693 Tax expense (benefits) realized by valuation allowance - - Tax benefits released from valuation allowance - - Impact of tax reform - - Valuation allowance at end of period $ 98,693 $ 98,693 The effective income tax rate for the year ended February 28, 2021 February 29, 2020 February 28, 2019, no 2021 Under the recently enacted 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%. 21%. $148,000 2021. In December 2020 2021 may $1.5 2021 no The Company files income tax returns in the U.S. federal and various state taxing jurisdictions. With few exceptions, the Company is no 2016. February 28 29, 2017, 2016, 2015 2014 not Realization of the Company's deferred tax assets is dependent upon the Company generating sufficient taxable income, in the appropriate tax jurisdictions, in future years to obtain benefit from the reversal of net deductible temporary differences. The amount of deferred tax assets considered realizable is subject to adjustment in future periods if estimates of future taxable income are changed. Management believes that, with the exception of the deferred tax asset related to restructuring charges, it is more likely than not February 28, 2021. The Company accounts for uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not 50% may not February 28 29, 2021 2020. not not twelve February 28 29, 2021 2020. As of February 29, 2016, 382 may January 2013 February 2016 2017 The Company estimates that the potential future tax deductions of U-Swirl's Federal net operating losses, limited by section 382, $1,811,000 $445,000. 2026. |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 15 The Company has a 401 401 3 25% 1.5% February 28 29, 2021, 2020 2019, $62,000, $61,000, $70,000, |
Note 16 - Operating Segments
Note 16 - Operating Segments | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16 The Company classifies its business interests into five 1 FY 2021 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 3,549,055 $ 18,316,165 $ 896,793 $ 1,717,524 $ - $ 24,479,537 Intersegment revenues (3,668 ) (995,164 ) - - - (998,832 ) Revenue from external customers 3,545,387 17,321,001 896,793 1,717,524 - 23,480,705 Segment profit (loss) 846,039 1,422,491 (309,799 ) (636,474 ) (3,113,948 ) (1,791,691 ) Total assets 1,338,990 9,330,194 634,124 4,907,029 8,740,815 24,951,152 Capital expenditures 150 103,003 4,505 4,975 41,859 154,492 Total depreciation & amortization $ 42,579 $ 642,806 $ 14,150 $ 557,735 $ 78,912 $ 1,336,182 FY 2020 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 5,535,564 $ 22,570,723 $ 1,104,171 $ 3,698,463 $ - $ 32,908,921 Intersegment revenues (4,932 ) (1,054,193 ) - - - (1,059,125 ) Revenue from external customers 5,530,632 21,516,530 1,104,171 3,698,463 - 31,849,796 Segment profit (loss) 2,530,449 4,009,282 42,433 485,185 (5,665,017 ) 1,402,332 Total assets 1,221,975 11,796,822 1,006,320 6,026,394 7,765,877 27,817,388 Capital expenditures 24,422 840,459 28,443 3,997 86,620 983,941 Total depreciation & amortization $ 44,166 $ 615,162 $ 12,983 $ 726,615 $ 93,899 $ 1,492,825 FY 2019 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 5,361,528 $ 25,324,024 $ 1,272,009 $ 3,737,606 $ - $ 35,695,167 Intersegment revenues (5,236 ) (1,144,484 ) - - - (1,149,720 ) Revenue from external customers 5,356,292 24,179,540 1,272,009 3,737,606 - 34,545,447 Segment profit (loss) 2,288,871 4,310,722 (52,009 ) (32,391 ) (3,559,532 ) 2,955,661 Total assets 1,182,355 12,267,458 1,001,419 5,264,989 6,505,920 26,222,141 Capital expenditures 3,548 526,402 9,617 16,512 57,707 613,786 Total depreciation & amortization $ 46,369 $ 573,846 $ 32,762 $ 952,178 $ 104,644 $ 1,709,799 |
Note 17 - Summarized Quarterly
Note 17 - Summarized Quarterly Data (Unaudited) | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 17 Following is a summary of the quarterly results of operations for the fiscal years ended February 28 29, 2021 2020: Fiscal Quarter 2021 First Second Third Fourth Total Total revenue $ 2,702,437 $ 5,327,402 $ 7,228,867 $ 8,221,999 $ 23,480,705 Gross margin (561,005 ) 940,589 1,413,765 1,267,473 3,060,822 Net (loss) income (3,667,397 ) 76,132 523,695 2,167,793 (899,777 ) Basic earnings per share (0.61 ) 0.01 0.09 0.36 (0.15 ) Diluted earnings per share $ (0.61 ) $ 0.01 $ 0.08 $ 0.35 (0.15 ) Fiscal Quarter 2020 First Second Third Fourth Total Total revenue $ 8,425,999 $ 7,385,270 $ 7,913,252 $ 8,125,275 $ 31,849,796 Gross margin 1,845,867 1,645,605 1,534,424 1,478,176 6,504,072 Net (loss) income 711,609 918,088 (71,637 ) (524,228 ) 1,033,832 Basic earnings per share 0.12 0.15 (0.01 ) (0.09 ) 0.17 Diluted earnings per share $ 0.11 $ 0.15 $ (0.01 ) $ (0.08 ) $ 0.17 |
Note 18 - Costs Associated With
Note 18 - Costs Associated With Company-owned Store Closures | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | NOTE 18 Costs associated with Company-owned store closures at February 28 29, 2021, 2020 2019 2021 2020 2019 Loss on distribution of assets $ 57,100 $ 15,400 $ 81,981 Lease settlement costs - - 145,000 Total $ 57,100 $ 15,400 $ 226,981 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II - Valuation and Qualifying Accounts Balance at Beginning of Period Additions Charged to Costs & Exp. Deductions Balance at End of Period Year Ended February 28, 2021 Valuation Allowance for Accounts and Notes Receivable 638,907 1,257,010 441,777 1,454,140 Year Ended February 29, 2020 Valuation Allowance for Accounts and Notes Receivable 489,502 197,830 48,425 638,907 Year Ended February 28, 2019 Valuation Allowance for Accounts and Notes Receivable 505,972 143,214 159,684 489,502 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 28, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 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 2021 1,000 no The following table summarizes the number of stores operating under the Rocky Mountain Chocolate Factory brand and its subsidiaries at February 28, 2021: Sold, Not Yet Open Open Total Rocky Mountain Chocolate Factory Company-owned stores - 2 2 Franchise stores - Domestic stores and kiosks 3 158 161 International license stores 1 53 54 Cold Stone Creamery - co-branded 5 96 101 U-Swirl (Including all associated brands) Company-owned stores - co-branded - 3 3 Franchise stores - Domestic stores 1 65 66 Franchise stores - Domestic - co-branded - 6 6 International license stores - 1 1 Total 10 384 394 |
Consolidation, Policy [Policy Text Block] | Consolidation Management accounts for the activities of the Company and its subsidiaries, and the accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three $5.1 February 28, 2021. |
Receivable [Policy Text Block] | Accounts and Notes Receivable In the normal course of business, the Company extends credit to customers, primarily franchisees that satisfy pre-defined credit criteria. The Company believes that it has limited concentration of credit risk primarily because its receivables are secured by the assets of the franchisees to which the Company ordinarily extends credit, including, but not may February 28, 2021, $239,631 $112,287 $450,215 $0 February 29, 2020. 4.5% 6%. November 2023 $135,000 may 19. March 1, 2020 2019 $4,049,959 $3,993,262, |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value, which is adjusted for obsolete, damaged and excess inventories to the lower of cost or net realizable value based on actual differences. The inventory value is determined through analysis of items held in inventory, and, if the recorded value is higher than the market value, the Company records an expense to reduce inventory to its actual market value. The process by which the Company performs its analysis is conducted on an item by item basis and takes into account, among other relevant factors, market value, sales history and future sales potential. Cost is determined using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment and Other Assets Property and equipment are recorded at cost. Depreciation and amortization are computed using the straight-line method based upon the estimated useful life of the asset, which range from five thirty-nine The Company reviews its long-lived assets through analysis of estimated fair value, including identifiable intangible assets, whenever events or changes indicate the carrying amount of such assets may not |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company provides for income taxes pursuant to the liability method. The liability method requires recognition of deferred income taxes based on temporary differences between financial reporting and income tax basis of assets and liabilities, using current enacted income tax rates and regulations. These differences will result in taxable income or deductions in future years when the reported amount of the asset or liability is recovered or settled, respectively. Considerable judgment is required in determining when these events may not. 2016 2016 100%, 2017. 2016. fourth 2017 382 14. |
Gift Card Breakage, Policy [Policy Text Block] | Gift Card Breakage The Company and its franchisees sell gift cards that are redeemable for product in stores. The Company manages the gift card program, and therefore collects all funds from the activation of gift cards and reimburses franchisees for the redemption of gift cards in their stores. A liability for unredeemed gift cards is included current liabilities in the balance sheets. There are no not may not 2014 09, 606” 2019 not 606 $617,438 $609,842 February 28, 2021 February 29, 2020, $53,160 $168,090 2021 2020, 3 606. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill arose primarily from two first second The Company performs a goodwill impairment test on an annual basis or more frequently when events or circumstances indicate that the carrying value of a reporting unit more likely than not 2021, 19 three May 31, 2020 ( first 7 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Franchise Rights Franchise rights arose from the entry into agreements to acquire substantially all of the franchise rights of Yogurtini, CherryBerry, Fuzzy Peach, Let's Yo! and Yogli Mogli. Franchise rights are amortized over a period of 20 |
Insurance and Self-Insurance Reserves [Policy Text Block] | Insurance and Self-Insurance Reserves The Company uses a combination of insurance and self-insurance plans to provide for the potential liabilities for workers' compensation, general liability, property insurance, director and officers' liability insurance, vehicle liability and employee health care benefits. Liabilities associated with the risks that are retained by the Company are estimated, in part, by considering historical claims experience, demographic factors, severity factors and other assumptions. While the Company believes that its assumptions are appropriate, the estimated accruals for these liabilities could be significantly affected if future occurrences and claims differ from these assumptions and historical trends. |
Revenue [Policy Text Block] | Sales The Company has performance obligations to sell products to franchisees and other customers, and revenue is recognized at a point in time. Control is transferred when the order has been shipped to a customer, utilizing a third Rebates Rebates received from purveyors that supply products to the Company's franchisees are included in franchise royalties and fees. Product rebates are recognized in the period in which they are earned. Rebates related to Company-owned locations are offset against operating costs. Shipping Fees Shipping fees charged to customers by the Company's trucking department are reported as sales. Shipping costs incurred by the Company for inventory are reported as cost of sales or inventory. Franchise and Royalty Fees Beginning in FY 2019, 606, 10 15 2019, one 1% no ten 10% 2.5% 6% |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities, at the date of the consolidated financial statements, and revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Vulnerability Due to Certain Concentrations In June 2019, 11 Revenue from FTD represented approximately $243,000 1% February 28, 2021, $1.5 5% February 29, 2020 $3.1 9% February 28, 2019. may As described above, In FY 2020, 2020, January 2021. February 28, 2021, $3.5 15% February 28, 2021, not no |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation At February 28, 2021, one 2007 The Company recognized $511,835, $866,177, $519,772 February 28 29, 2021, 2020 2019, During FY 2021, not 2020, 280,000 no 2021 2020. 17 20% 5% five six $511,835 2021 $598,155 2020 $463,795 2019. February 28, 2021 $1,614,140, 3.7 The Company did not February 28, 2021 14,078 February 29, 2020 2,000 February 28, 2019. $0, $130,172 $24,480 February 28 29, 2021, 2020 2019, The Company issued 15,000 February 29, 2020 $137,850 February 29, 2020. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding during each year. Diluted earnings per share reflects the potential dilution that could occur from common shares issuable through stock options and restricted stock units. Following the expiration of all outstanding options, during FY 2017, no The weighted-average number of shares outstanding used in the computation of diluted earnings per share does not February 28, 2021, 960,677 217,103 |
Advertising Cost [Policy Text Block] | Advertising and Promotional Expenses The Company expenses advertising costs as incurred. Total advertising expense for RMCF amounted to $265,285, $276,602, $275,441 February 28 29, 2021, 2020 2019, $95,215, $203,004, $168,000 February 28 29, 2021, 2020 2019, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, trade receivables, payables, notes payable and notes receivable. The fair value of all instruments approximates the carrying value, because of the relatively short maturity of these instruments. |
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 2017 04 2 2017 04, 1 2 not 2017 04 zero 2 2017 04 March 1, 2020 ( first 2021 2017 04 8. In December 2019, 2019 12, 740 December 15, 2020 2019 12 March 1, 2021 not |
Related Party Transactions, Policy [Policy Text Block] | Related Party Transactions As described above, in FY 2020 2021, 2020 January 2021. February 28, 2021, $3.5 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Number of Stores [Table Text Block] | Sold, Not Yet Open Open Total Rocky Mountain Chocolate Factory Company-owned stores - 2 2 Franchise stores - Domestic stores and kiosks 3 158 161 International license stores 1 53 54 Cold Stone Creamery - co-branded 5 96 101 U-Swirl (Including all associated brands) Company-owned stores - co-branded - 3 3 Franchise stores - Domestic stores 1 65 66 Franchise stores - Domestic - co-branded - 6 6 International license stores - 1 1 Total 10 384 394 |
Note 2 - Supplemental Cash Fl_2
Note 2 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Cash paid (received) for: 2021 2020 2019 Interest $ 76,803 $ 20,610 $ 72,619 Income taxes (21,021 ) 619,276 638,252 Non-cash Operating Activities Accrued Inventory 148,254 191,459 52,918 Non-cash Financing Activities Dividend payable $ - $ 722,344 $ 714,939 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Twelve Months Ended February 29 or 28: 2021 2020 Contract liabilities at the beginning of the year: $ 1,155,809 $ 1,352,572 Revenue recognized (226,720 ) (324,982 ) Contract fees received 201,000 140,750 Amortized gain on the financed sale of equipment (10,443 ) (12,531 ) Contract liabilities at the end of the year: $ 1,119,646 $ 1,155,809 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2022 $ 194,737 2023 184,224 2024 151,856 2025 136,780 2026 124,489 Thereafter 327,560 Total $ 1,119,646 |
Note 4 - Disaggregation of Re_2
Note 4 - Disaggregation of Revenue (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Franchise fees $ 178,042 $ - $ - $ 48,678 $ 226,720 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 17,321,001 - - 17,321,001 Retail sales - - 896,793 961,653 1,858,446 Royalty and marketing fees 3,367,345 - - 707,193 4,074,538 Total $ 3,545,387 $ 17,321,001 $ 896,793 $ 1,717,524 $ 23,480,705 Revenues recognized over time under ASC 606: Franchising Manufacturing Retail U-Swirl Total Revenues recognized over time under ASC 606: Franchise fees $ 230,543 $ - $ - $ 94,439 $ 324,982 Revenues recognized at a point in time: Franchising Manufacturing Retail U-Swirl Total Factory sales - 21,516,530 - - 21,516,530 Retail sales - - 1,104,171 2,098,267 3,202,438 Royalty and marketing fees 5,300,089 - - 1,505,757 6,805,846 Total $ 5,530,632 $ 21,516,530 $ 1,104,171 $ 3,698,463 $ 31,849,796 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 2021 2020 Ingredients and supplies $ 2,464,123 $ 2,186,652 Finished candy 1,888,818 1,827,767 U-Swirl food and packaging 39,518 56,708 Reserve for slow moving inventory (329,574 ) (320,149 ) Total inventories $ 4,062,885 $ 3,750,978 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2021 2020 Land $ 513,618 $ 513,618 Building 4,827,807 5,031,395 Machinery and equipment 10,129,508 10,664,396 Furniture and fixtures 797,303 852,557 Leasehold improvements 985,407 1,154,396 Transportation equipment 429,789 440,989 17,683,432 18,657,351 Less accumulated depreciation (12,531,417 ) (12,719,338 ) Property and equipment, net $ 5,152,015 $ 5,938,013 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | 2021 2020 Amortization Period (in Years) Gross Carrying Value Accumulated Amortization Gross Carrying Value Accumulated Amortization Intangible assets subject to amortization Store design 10 $ 394,826 $ 221,504 $ 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 - 20 556,339 333,715 715,339 297,072 Franchise rights 20 5,979,637 3,459,873 5,979,637 2,931,949 Total 7,482,605 4,566,895 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 $ 4,566,895 $ 8,589,502 $ 3,996,477 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 $ 483,959 2023 409,393 2024 346,672 2025 294,427 2026 251,342 Thereafter 1,129,917 Total $ 2,915,710 |
Note 8 - Impairment of Long-l_2
Note 8 - Impairment of Long-lived and Intangible Assets (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
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 57,100 Total $ 533,343 |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Original share authorization: 300,000 Prior plan shares authorized and incorporated in the 2007 Plan: 85,340 Additional shares authorized through 2007 Plan amendments: 600,000 Available for award: 985,340 Cancelled/forfeited: 201,815 Shares awarded as unrestricted shares, stock options or restricted stock units: (866,487 ) Shares available for award: 320,668 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Twelve Months Ended February 28 or 29: 2021 2020 2019 Outstanding non-vested restricted stock units at beginning of year: 265,555 25,002 77,594 Granted - 280,000 - Vested (54,761 ) (38,835 ) (49,058 ) Cancelled/forfeited (1,344 ) (612 ) (3,534 ) Outstanding non-vested restricted stock units as of February 28: 209,450 265,555 25,002 Weighted average grant date fair value $ 9.40 $ 9.39 $ 12.05 Weighted average remaining vesting period (in years) 3.68 4.56 0.38 |
Note 11 - Leasing Arrangements
Note 11 - Leasing Arrangements (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Rent Expense [Table Text Block] | 2021 2020 2019 Minimum rentals $ 428,421 $ 733,190 $ 1,030,536 Less sublease rentals (113,515 ) (318,000 ) (572,000 ) Contingent rentals 27,803 21,600 22,800 $ 342,708 $ 436,790 $ 481,336 2021 2020 2019 340,731 342,297 325,229 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | FYE 22 $ 694,755 FYE 23 437,445 FYE 24 315,962 FYE 25 164,223 FYE 26 63,727 Thereafter 489,090 Total $ 2,165,202 Less: Imputed interest (204,500 ) Present value of lease liabilities: $ 1,960,702 Weighted average lease term 6.9 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2021 2020 2019 Current Federal $ (398,303 ) $ 306,000 $ 653,226 State 21,074 85,157 142,570 Total Current (377,229 ) 391,157 795,796 Deferred Federal (441,734 ) (19,350 ) (67,410 ) State (72,951 ) (3,307 ) (11,524 ) Total Deferred (514,685 ) (22,657 ) (78,934 ) Total $ (891,914 ) $ 368,500 $ 716,862 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2021 2020 2019 Statutory rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 4.0 % 4.6 % 3.4 % Paycheck Protection Program debt forgiveness 18.0 % 0.0 % 0.0 % Work opportunity tax credits 0.2 % (1.1 )% (0.7 )% Equity compensation tax expense (1.7 )% 1.4 % 0.0 % Other 0.1 % 0.4 % 0.5 % Impact of CARES act 8.2 % 0.0 % 0.0 % Effective tax rate 49.8 % 26.3 % 24.2 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2021 2020 Deferred Tax Assets Allowance for doubtful accounts and notes $ 357,573 $ 157,107 Inventories 81,042 78,724 Accrued compensation 140,702 137,786 Loss provisions and deferred income 389,858 397,535 Self-insurance accrual 31,721 37,623 Amortization 396,195 299,373 Restructuring charges 98,693 98,693 Accumulated net losses 445,414 401,699 Valuation allowance (98,693 ) (98,693 ) Net deferred tax assets $ 1,842,505 $ 1,509,847 Deferred Tax Liabilities Depreciation and amortization (653,798 ) (779,023 ) Prepaid expenses (43,943 ) (100,746 ) Deferred Tax Liabilities (697,741 ) (879,769 ) Net deferred tax assets $ 1,144,764 $ 630,078 |
Summary of Valuation Allowance [Table Text Block] | 2021 2020 Valuation allowance at beginning of period $ 98,693 $ 98,693 Tax expense (benefits) realized by valuation allowance - - Tax benefits released from valuation allowance - - Impact of tax reform - - Valuation allowance at end of period $ 98,693 $ 98,693 |
Note 16 - Operating Segments (T
Note 16 - Operating Segments (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | FY 2021 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 3,549,055 $ 18,316,165 $ 896,793 $ 1,717,524 $ - $ 24,479,537 Intersegment revenues (3,668 ) (995,164 ) - - - (998,832 ) Revenue from external customers 3,545,387 17,321,001 896,793 1,717,524 - 23,480,705 Segment profit (loss) 846,039 1,422,491 (309,799 ) (636,474 ) (3,113,948 ) (1,791,691 ) Total assets 1,338,990 9,330,194 634,124 4,907,029 8,740,815 24,951,152 Capital expenditures 150 103,003 4,505 4,975 41,859 154,492 Total depreciation & amortization $ 42,579 $ 642,806 $ 14,150 $ 557,735 $ 78,912 $ 1,336,182 FY 2020 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 5,535,564 $ 22,570,723 $ 1,104,171 $ 3,698,463 $ - $ 32,908,921 Intersegment revenues (4,932 ) (1,054,193 ) - - - (1,059,125 ) Revenue from external customers 5,530,632 21,516,530 1,104,171 3,698,463 - 31,849,796 Segment profit (loss) 2,530,449 4,009,282 42,433 485,185 (5,665,017 ) 1,402,332 Total assets 1,221,975 11,796,822 1,006,320 6,026,394 7,765,877 27,817,388 Capital expenditures 24,422 840,459 28,443 3,997 86,620 983,941 Total depreciation & amortization $ 44,166 $ 615,162 $ 12,983 $ 726,615 $ 93,899 $ 1,492,825 FY 2019 Franchising Manufacturing Retail U-Swirl Other Total Total revenues $ 5,361,528 $ 25,324,024 $ 1,272,009 $ 3,737,606 $ - $ 35,695,167 Intersegment revenues (5,236 ) (1,144,484 ) - - - (1,149,720 ) Revenue from external customers 5,356,292 24,179,540 1,272,009 3,737,606 - 34,545,447 Segment profit (loss) 2,288,871 4,310,722 (52,009 ) (32,391 ) (3,559,532 ) 2,955,661 Total assets 1,182,355 12,267,458 1,001,419 5,264,989 6,505,920 26,222,141 Capital expenditures 3,548 526,402 9,617 16,512 57,707 613,786 Total depreciation & amortization $ 46,369 $ 573,846 $ 32,762 $ 952,178 $ 104,644 $ 1,709,799 |
Note 17 - Summarized Quarterl_2
Note 17 - Summarized Quarterly Data (Unaudited) (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Fiscal Quarter 2021 First Second Third Fourth Total Total revenue $ 2,702,437 $ 5,327,402 $ 7,228,867 $ 8,221,999 $ 23,480,705 Gross margin (561,005 ) 940,589 1,413,765 1,267,473 3,060,822 Net (loss) income (3,667,397 ) 76,132 523,695 2,167,793 (899,777 ) Basic earnings per share (0.61 ) 0.01 0.09 0.36 (0.15 ) Diluted earnings per share $ (0.61 ) $ 0.01 $ 0.08 $ 0.35 (0.15 ) Fiscal Quarter 2020 First Second Third Fourth Total Total revenue $ 8,425,999 $ 7,385,270 $ 7,913,252 $ 8,125,275 $ 31,849,796 Gross margin 1,845,867 1,645,605 1,534,424 1,478,176 6,504,072 Net (loss) income 711,609 918,088 (71,637 ) (524,228 ) 1,033,832 Basic earnings per share 0.12 0.15 (0.01 ) (0.09 ) 0.17 Diluted earnings per share $ 0.11 $ 0.15 $ (0.01 ) $ (0.08 ) $ 0.17 |
Note 18 - Costs Associated Wi_2
Note 18 - Costs Associated With Company-owned Store Closures (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | 2021 2020 2019 Loss on distribution of assets $ 57,100 $ 15,400 $ 81,981 Lease settlement costs - - 145,000 Total $ 57,100 $ 15,400 $ 226,981 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Valuation and Qualifying Accounts Disclosure [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: Times New Roman; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Balance at</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Beginning of Period</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Additions Charged to</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Costs & Exp.</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><div style="display: inline; font-style: italic; font: inherit;">Deductions</div></div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Balance at End of</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Period</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 42%; border-left: 1px solid black;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 28, 2021</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">638,907</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,257,010</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">441,777</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,454,140</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 29, 2020</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">489,502</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">197,830</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">48,425</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">638,907</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 28, 2019</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">505,972</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">143,214</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">159,684</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">489,502</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table></div>" id="sjs-B4"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: Times New Roman; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Balance at</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Beginning of Period</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Additions Charged to</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Costs & Exp.</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><div style="display: inline; font-style: italic; font: inherit;">Deductions</div></div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;"> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Balance at End of</div> <div style=" font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Period</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 42%; border-left: 1px solid black;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 28, 2021</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">638,907</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,257,010</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">441,777</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">1,454,140</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 29, 2020</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">489,502</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">197,830</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">48,425</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">638,907</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Year Ended February 28, 2019</div> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 13%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 11%;"> </td> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black; width: 1%;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black; width: 42%;"> <div style=" font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Valuation Allowance for Accounts and Notes Receivable</div> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">505,972</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 13%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">143,214</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">159,684</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td> <td style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 11%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font: inherit;">489,502</div></td> <td nowrap="nowrap" style="width: 1%; font-family: Times New Roman; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td> </tr> </table></div> |
Note 1 - Nature of Operations_3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||
Feb. 28, 2021 | Nov. 30, 2020 | Aug. 31, 2020 | May 31, 2020 | Feb. 29, 2020 | Nov. 30, 2019 | Aug. 31, 2019 | May 31, 2019 | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | Feb. 28, 2018 | Mar. 01, 2020 | Mar. 01, 2019 | |
Cash, Uninsured Amount | $ 5,100,000 | $ 5,100,000 | ||||||||||||
Financing Receivable, before Allowance for Credit Loss, Total | 239,631 | $ 450,215 | 239,631 | $ 450,215 | ||||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | 112,287 | 0 | 112,287 | 0 | ||||||||||
Accounts Receivable, after Allowance for Credit Loss, Current, Total | 2,007,502 | 4,049,959 | 2,007,502 | 4,049,959 | $ 4,049,959 | $ 3,993,262 | ||||||||
Gift Card, Liability, Current | 617,438 | 609,842 | 617,438 | 609,842 | ||||||||||
Gift Card Liability, Breakage | 53,160 | 168,090 | ||||||||||||
Royalty on Retail Sales of Products Purchased from the Company | 0.00% | |||||||||||||
Revenues, Total | 8,221,999 | $ 7,228,867 | $ 5,327,402 | $ 2,702,437 | $ 8,125,275 | $ 7,913,252 | $ 7,385,270 | $ 8,425,999 | 23,480,705 | 31,849,796 | ||||
Share-based Payment Arrangement, Expense | $ 511,835 | $ 866,177 | $ 519,772 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | ||||||||||||
Rocky Mountain Chocolate Factory [Member] | ||||||||||||||
Advertising Expense | $ 265,285 | $ 276,602 | 275,441 | |||||||||||
USwirl Inc [Member] | ||||||||||||||
Advertising Expense | 95,215 | $ 203,004 | 168,000 | |||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | |||||||||||||
Warrant [Member] | ||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 960,677 | |||||||||||||
Unvested Restricted Stock Units [Member] | ||||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 217,103 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 511,835 | $ 598,155 | $ 463,795 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 280,000 | |||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 1,614,140 | $ 1,614,140 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 255 days | |||||||||||||
Unrestricted Shares of Stock [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 0 | $ 130,172 | $ 24,480 | |||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture (in shares) | 0 | 14,078 | 2,000 | |||||||||||
Unrestricted Shares of Stock [Member] | Chief Executive Officer [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 137,850 | |||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 15,000 | |||||||||||||
Edible [Member] | ||||||||||||||
Revenue from Related Parties | $ 3,500,000 | |||||||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||||||||||||
Revenues, Total | $ 243,000 | $ 1,500,000 | $ 3,100,000 | |||||||||||
Concentration Risk, Percentage | 1.00% | 5.00% | 9.00% | |||||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Edible [Member] | ||||||||||||||
Concentration Risk, Percentage | 15.00% | |||||||||||||
Marketing and Promotion Fee [Member] | ||||||||||||||
Franchise Fee Rate | 1.00% | |||||||||||||
Products Sold [Member] | ||||||||||||||
Franchise Fee Rate | 10.00% | |||||||||||||
Franchise Rights [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | |||||||||||||
Secured by Assets Financed [Member] | ||||||||||||||
Financing Receivable, before Allowance for Credit Loss, Total | $ 135,000 | $ 135,000 | ||||||||||||
Minimum [Member] | ||||||||||||||
Financing Receivable Interest Rate | 4.50% | 4.50% | ||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||||||||||||
Percent of Retail Sales | 2.50% | |||||||||||||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | |||||||||||||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | Annual Vesting [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 17.00% | |||||||||||||
Minimum [Member] | Franchise Rights [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||||||||||
Maximum [Member] | ||||||||||||||
Financing Receivable Interest Rate | 6.00% | 6.00% | ||||||||||||
Property, Plant and Equipment, Useful Life (Year) | 39 years | |||||||||||||
Percent of Retail Sales | 6.00% | |||||||||||||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 6 years | |||||||||||||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Annual Vesting [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Per Quarter | 5.00% | |||||||||||||
Maximum [Member] | Franchise Rights [Member] | ||||||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |||||||||||||
USwirl Inc [Member] | ||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 46.00% | 46.00% |
Note 1 - Nature of Operations_4
Note 1 - Nature of Operations and Basis of Presentation - Number of Stores (Details) | Feb. 28, 2021 |
Number of stores | 394 |
Sold Not Yet Open [Member] | |
Number of stores | 10 |
Open [Member] | |
Number of stores | 384 |
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 |
Franchise Stores - Domestic Stores and Kiosks [Member] | Rocky Mountain Chocolate Factory [Member] | |
Number of stores | 161 |
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 | 158 |
International License Stores [Member] | Rocky Mountain Chocolate Factory [Member] | |
Number of stores | 54 |
International License Stores [Member] | USwirl Inc [Member] | |
Number of stores | 1 |
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 | 53 |
International License Stores [Member] | Open [Member] | USwirl Inc [Member] | |
Number of stores | 1 |
Cold Stone Creamery - Co-Branded [Member] | Rocky Mountain Chocolate Factory [Member] | |
Number of stores | 101 |
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 | 96 |
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 |
Franchise Stores - Domestic Stores [Member] | USwirl Inc [Member] | |
Number of stores | 66 |
Franchise Stores - Domestic Stores [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member] | |
Number of stores | 1 |
Franchise Stores - Domestic Stores [Member] | Open [Member] | USwirl Inc [Member] | |
Number of stores | 65 |
Franchise Stores - Domestic Stores - Co-Branded [Member] | USwirl Inc [Member] | |
Number of stores | 6 |
Franchise Stores - Domestic Stores - Co-Branded [Member] | Sold Not Yet Open [Member] | USwirl Inc [Member] | |
Number of stores | |
Franchise Stores - Domestic Stores - Co-Branded [Member] | Open [Member] | USwirl Inc [Member] | |
Number of stores | 6 |
Note 2 - Supplemental Cash Fl_3
Note 2 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Interest | $ 76,803 | $ 20,610 | $ 72,619 |
Income taxes | (21,021) | 619,276 | 638,252 |
Accrued Inventory | 148,254 | 191,459 | 52,918 |
Dividend payable | $ 722,344 | $ 714,939 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers (Details Textual) | 12 Months Ended |
Feb. 28, 2021 | |
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 ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Contract liabilities at the beginning of the year: | $ 1,155,809 | $ 1,352,572 |
Revenue recognized | (226,720) | (324,982) |
Contract fees received | 201,000 | 140,750 |
Amortized gain on the financed sale of equipment | (10,443) | (12,531) |
Contract liabilities at the end of the year: | $ 1,119,646 | $ 1,155,809 |
Note 3 - Revenue From Contrac_5
Note 3 - Revenue From Contracts With Customers - Remaining Performance Obligation (Details) | Feb. 28, 2021USD ($) |
Revenue, remaining performance obligation, amount | $ 1,119,646 |
Note 3 - Revenue From Contrac_6
Note 3 - Revenue From Contracts With Customers - Remaining Performance Obligation 2 (Details) | Feb. 28, 2021USD ($) |
Revenue, remaining performance obligation, amount | $ 1,119,646 |
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 | $ 194,737 |
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 | $ 184,224 |
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 | $ 151,856 |
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 | $ 136,780 |
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 | $ 124,489 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-03-01 | |
Revenue, remaining performance obligation, period (Year) | 1 year |
Revenue, remaining performance obligation, amount | $ 327,560 |
Note 4 - Disaggregation of Re_3
Note 4 - Disaggregation of Revenue - Disaggregation of Revenue (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Revenues | $ 23,480,705 | $ 31,849,796 | $ 34,545,447 |
Franchising [Member] | |||
Revenues | 3,545,387 | 5,530,632 | 5,356,292 |
Manufacturing [Member] | |||
Revenues | 17,321,001 | 21,516,530 | 24,179,540 |
Retail Segment [Member] | |||
Revenues | 896,793 | 1,104,171 | $ 1,272,009 |
USwirl Inc [Member] | |||
Revenues | 1,717,524 | 3,698,463 | |
Franchise Fees [Member] | Transferred over Time [Member] | |||
Revenues | 226,720 | 324,982 | |
Franchise Fees [Member] | Transferred over Time [Member] | Franchising [Member] | |||
Revenues | 178,042 | 230,543 | |
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 | 48,678 | 94,439 | |
Factory Sales [Member] | Transferred at Point in Time [Member] | |||
Revenues | 17,321,001 | 21,516,530 | |
Factory Sales [Member] | Transferred at Point in Time [Member] | Franchising [Member] | |||
Revenues | |||
Factory Sales [Member] | Transferred at Point in Time [Member] | Manufacturing [Member] | |||
Revenues | 17,321,001 | 21,516,530 | |
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 | 1,858,446 | 3,202,438 | |
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 | 896,793 | 1,104,171 | |
Retail [Member] | Transferred at Point in Time [Member] | USwirl Inc [Member] | |||
Revenues | 961,653 | 2,098,267 | |
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | |||
Revenues | 4,074,538 | 6,805,846 | |
Royalty and Marketing Fees [Member] | Transferred at Point in Time [Member] | Franchising [Member] | |||
Revenues | 3,367,345 | 5,300,089 | |
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 | $ 707,193 | $ 1,505,757 |
Note 5 - Inventories - Inventor
Note 5 - Inventories - Inventories (Details) - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 |
Ingredients and supplies | $ 2,464,123 | $ 2,186,652 |
Finished candy | 1,888,818 | 1,827,767 |
U-Swirl food and packaging | 39,518 | 56,708 |
Reserve for slow moving inventory | (329,574) | (320,149) |
Total inventories | $ 4,062,885 | $ 3,750,978 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Depreciation, Total | $ 765,764 | $ 786,648 | $ 865,479 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 |
Property, plant and equipment, gross | $ 17,683,432 | $ 18,657,351 |
Less accumulated depreciation | (12,531,417) | (12,719,338) |
Property and equipment, net | 5,152,015 | 5,938,013 |
Land [Member] | ||
Property, plant and equipment, gross | 513,618 | 513,618 |
Building [Member] | ||
Property, plant and equipment, gross | 4,827,807 | 5,031,395 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | 10,129,508 | 10,664,396 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 797,303 | 852,557 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 985,407 | 1,154,396 |
Transportation Equipment [Member] | ||
Property, plant and equipment, gross | $ 429,789 | $ 440,989 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Amortization of Intangible Assets, Total | $ 570,418 | $ 706,177 | $ 844,320 |
Store Design [Member] | |||
Finite-Lived Intangible Assets, Period Increase (Decrease), Total | $ 174,000 | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets - Indefinite-lived Intangible Assets (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 28, 2019 | Feb. 29, 2020 | |
Intangible assets subject to amortization, gross carrying value | $ 7,482,605 | $ 7,542,558 | |
Intangible assets subject to amortization, accumulated amortization | 4,566,895 | 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 | 4,566,895 | 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 | 221,504 | 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 | $ 333,715 | 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 | $ 3,459,873 | $ 2,931,949 | |
Franchise Rights [Member] | Minimum [Member] | |||
Amortization Period (Year) | 10 years | ||
Franchise Rights [Member] | Maximum [Member] | |||
Amortization Period (Year) | 15 years |
Note 7 - Goodwill and Intangi_5
Note 7 - Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) | Feb. 28, 2021USD ($) |
2022 | $ 483,959 |
2023 | 409,393 |
2024 | 346,672 |
2025 | 294,427 |
2026 | 251,342 |
Thereafter | 1,129,917 |
Total | $ 2,915,710 |
Note 8 - Impairment of Long-l_3
Note 8 - Impairment of Long-lived and Intangible Assets (Details Textual) | 12 Months Ended |
Feb. 28, 2021USD ($) | |
Asset Impairment Charges, Total | $ 533,343 |
General and Administrative Expense [Member] | COVID-19 Pandemic [Member] | |
Asset Impairment Charges, Total | $ 476,243 |
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) | 12 Months Ended |
Feb. 28, 2021USD ($) | |
Company store goodwill impairment | $ 317,243 |
Trademark intangible asset impairment | 159,000 |
Company-owned store impairment of long-lived assets | 57,100 |
Total | $ 533,343 |
Note 9 - Notes Payable (Details
Note 9 - Notes Payable (Details Textual) - USD ($) | Feb. 28, 2021 | Feb. 28, 2021 | Nov. 30, 2020 | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 |
Proceeds from Notes Payable, Total | $ 1,537,200 | |||||
SBA Loans [Member] | ||||||
Forgiveness of Indebtedness | $ 1,400,000 | $ 108,000 | ||||
Line of Credit [Member] | Wells Fargo Bank [Member] | ||||||
Proceeds from Notes Payable, Total | $ 1,500,000 | |||||
Long-term Line of Credit, Total | $ 5,000,000 | 5,000,000 | 5,000,000 | |||
Line of Credit Facility, Remaining Borrowing Capacity | $ 5,000,000 | $ 5,000,000 | $ 5,000,000 | |||
Line of Credit [Member] | Wells Fargo Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | 2.40% | 2.40% |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - shares shares in Thousands | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | 0 | 0 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - Summarizes Stock Awards (Details) | 12 Months Ended |
Feb. 28, 2021shares | |
Additional shares authorized through 2007 Plan amendments: (in shares) | 600,000 |
2007 Equity Incentive Plan [Member | |
Original share authorization: (in shares) | 300,000 |
Prior plan shares authorized and incorporated in the 2007 Plan: (in shares) | 85,340 |
Available for award: (in shares) | 985,340 |
Cancelled/forfeited: (in shares) | 201,815 |
Shares awarded as unrestricted shares, stock options or restricted stock units: (in shares) | (866,487) |
Shares available for award: (in shares) | 320,668 |
Note 10 - Stock Compensation _5
Note 10 - Stock Compensation Plans - Restricted Stock Unit Awards Outstanding Under the Plans (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Outstanding non-vested restricted stock units at beginning of year: (in shares) | 265,555 | 25,002 | 77,594 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 280,000 | ||
Vested (in shares) | (54,761) | (38,835) | (49,058) |
Cancelled/forfeited (in shares) | (1,344) | (612) | (3,534) |
Outstanding non-vested restricted stock units as of February 28: (in shares) | 209,450 | 265,555 | 25,002 |
Weighted average grant date fair value (in dollars per share) | $ 9.40 | $ 9.39 | $ 12.05 |
Weighted average remaining vesting period (Year) | 3 years 248 days | 4 years 204 days | 138 days |
Note 11 - Leasing Arrangement_2
Note 11 - Leasing Arrangements (Details Textual) - USD ($) | Feb. 28, 2021 | Mar. 01, 2019 |
Operating Lease, Liability, Total | $ 1,960,702 | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.40% | |
Lessee, Operating Lease, Liability, to be Paid, Total | $ 2,165,202 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Liability, Total | $ 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 11 - Leasing Arrangement_3
Note 11 - Leasing Arrangements - Lease Expense (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Retail Leases [Member] | |||
Minimum rentals | $ 428,421 | $ 733,190 | $ 1,030,536 |
Less sublease rentals | (113,515) | (318,000) | (572,000) |
Contingent rentals | 27,803 | 21,600 | 22,800 |
Retail operating lease expense | 342,708 | 436,790 | 481,336 |
Trucking Equipment Leases [Member] | |||
Retail operating lease expense | $ 340,731 | $ 342,297 | $ 325,229 |
Note 11 - Leasing Arrangement_4
Note 11 - Leasing Arrangements - Maturities of Lease Liabilities for Operating Leases (Details) | Feb. 28, 2021USD ($) |
FYE 22 | $ 694,755 |
FYE 23 | 437,445 |
FYE 24 | 315,962 |
FYE 25 | 164,223 |
FYE 26 | 63,727 |
Thereafter | 489,090 |
Total | 2,165,202 |
Less: Imputed interest | (204,500) |
Operating Lease, Liability, Total | $ 1,960,702 |
Weighted average lease term (Year) | 6 years 328 days |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingencies (Details Textual) | 12 Months Ended |
Feb. 28, 2021USD ($) | |
Contractual Obligation, Total | $ 377,000 |
Minimum [Member] | |
Purchase Contracts, Term (Month) | 180 days |
Maximum [Member] | |
Purchase Contracts, Term (Month) | 1 year 180 days |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Details Textual) - USD ($) | Mar. 13, 2020 | Dec. 20, 2019 | Feb. 28, 2021 | Jul. 15, 2014 |
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.12 | |||
Stock Repurchase Program, Authorized Amount | $ 3,000,000 | |||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 638,000 | |||
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 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 148,000 | ||
Gain (Loss) on Extinguishment of Debt, Total | 1,548,576 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 445,414 | $ 401,699 | |
U-Swirl Segment [Member] | |||
Operating Loss Carryforwards, Total | 1,811,000 | ||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $ 445,000 |
Note 14 - Income Taxes - Income
Note 14 - Income Taxes - Income Tax Expense (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Federal | $ (398,303) | $ 306,000 | $ 653,226 |
State | 21,074 | 85,157 | 142,570 |
Total Current | (377,229) | 391,157 | 795,796 |
Federal | (441,734) | (19,350) | (67,410) |
State | (72,951) | (3,307) | (11,524) |
Total Deferred | (514,685) | (22,657) | (78,934) |
Total | $ (891,914) | $ 368,500 | $ 716,862 |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate and the Effective Rate (Details) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Statutory rate | 21.00% | 21.00% | 21.00% |
State income taxes, net of federal benefit | 4.00% | 4.60% | 3.40% |
Paycheck Protection Program debt forgiveness | 18.00% | 0.00% | 0.00% |
Work opportunity tax credits | 0.20% | (1.10%) | (0.70%) |
Equity compensation tax expense | (1.70%) | 1.40% | 0.00% |
Other | 0.10% | 0.40% | 0.50% |
Impact of CARES act | 8.20% | 0.00% | 0.00% |
Effective tax rate | 49.80% | 26.30% | 24.20% |
Note 14 - Income Taxes - Compon
Note 14 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 |
Allowance for doubtful accounts and notes | $ 357,573 | $ 157,107 | |
Inventories | 81,042 | 78,724 | |
Accrued compensation | 140,702 | 137,786 | |
Loss provisions and deferred income | 389,858 | 397,535 | |
Self-insurance accrual | 31,721 | 37,623 | |
Amortization | 396,195 | 299,373 | |
Restructuring charges | 98,693 | 98,693 | |
Accumulated net losses | 445,414 | 401,699 | |
Valuation allowance | (98,693) | (98,693) | $ (98,693) |
Net deferred tax assets | 1,842,505 | 1,509,847 | |
Depreciation and amortization | (653,798) | (779,023) | |
Prepaid expenses | (43,943) | (100,746) | |
Deferred Tax Liabilities | (697,741) | (879,769) | |
Net deferred tax assets | $ 1,144,764 | $ 630,078 |
Note 14 - Income Taxes - Summar
Note 14 - Income Taxes - Summary of Deferred Income Tax Valuation Allowances (Details) - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Valuation allowance at beginning of period | $ 98,693 | $ 98,693 |
Tax expense (benefits) realized by valuation allowance | ||
Tax benefits released from valuation allowance | ||
Impact of tax reform | ||
Valuation allowance at end of period | $ 98,693 | $ 98,693 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Defined Contribution Plan Employers Matching Contribution Vesting Period (Year) | 3 years | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 25.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 1.50% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 62,000 | $ 61,000 | $ 70,000 |
Note 16 - Operating Segments (D
Note 16 - Operating Segments (Details Textual) | 12 Months Ended |
Feb. 28, 2021 | |
Number of Reportable Segments | 5 |
Note 16 - Operating Segments -
Note 16 - Operating Segments - Segment Information (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Revenues | $ 23,480,705 | $ 31,849,796 | $ 34,545,447 |
Segment profit (loss) | (1,791,691) | 1,402,332 | 2,955,661 |
Total assets | 24,951,152 | 27,817,388 | 26,222,141 |
Capital expenditures | 154,492 | 983,941 | 613,786 |
Total depreciation and amortization | 1,336,182 | 1,492,825 | 1,709,799 |
Franchising [Member] | |||
Revenues | 3,545,387 | 5,530,632 | 5,356,292 |
Segment profit (loss) | 846,039 | 2,530,449 | 2,288,871 |
Total assets | 1,338,990 | 1,221,975 | 1,182,355 |
Capital expenditures | 150 | 24,422 | 3,548 |
Total depreciation and amortization | 42,579 | 44,166 | 46,369 |
Manufacturing [Member] | |||
Revenues | 17,321,001 | 21,516,530 | 24,179,540 |
Segment profit (loss) | 1,422,491 | 4,009,282 | 4,310,722 |
Total assets | 9,330,194 | 11,796,822 | 12,267,458 |
Capital expenditures | 103,003 | 840,459 | 526,402 |
Total depreciation and amortization | 642,806 | 615,162 | 573,846 |
Retail Segment [Member] | |||
Revenues | 896,793 | 1,104,171 | 1,272,009 |
Segment profit (loss) | (309,799) | 42,433 | (52,009) |
Total assets | 634,124 | 1,006,320 | 1,001,419 |
Capital expenditures | 4,505 | 28,443 | 9,617 |
Total depreciation and amortization | 14,150 | 12,983 | 32,762 |
U-Swirl Segment [Member] | |||
Revenues | 1,717,524 | 3,698,463 | 3,737,606 |
Segment profit (loss) | (636,474) | 485,185 | (32,391) |
Total assets | 4,907,029 | 6,026,394 | 5,264,989 |
Capital expenditures | 4,975 | 3,997 | 16,512 |
Total depreciation and amortization | 557,735 | 726,615 | 952,178 |
Other Segments [Member] | |||
Revenues | 0 | ||
Segment profit (loss) | (3,113,948) | (5,665,017) | (3,559,532) |
Total assets | 8,740,815 | 7,765,877 | 6,505,920 |
Capital expenditures | 41,859 | 86,620 | 57,707 |
Total depreciation and amortization | 78,912 | 93,899 | 104,644 |
Operating Segments [Member] | |||
Revenues | 24,479,537 | 32,908,921 | 35,695,167 |
Operating Segments [Member] | Franchising [Member] | |||
Revenues | 3,549,055 | 5,535,564 | 5,361,528 |
Operating Segments [Member] | Manufacturing [Member] | |||
Revenues | 18,316,165 | 22,570,723 | 25,324,024 |
Operating Segments [Member] | Retail Segment [Member] | |||
Revenues | 896,793 | 1,104,171 | 1,272,009 |
Operating Segments [Member] | U-Swirl Segment [Member] | |||
Revenues | 1,717,524 | 3,698,463 | 3,737,606 |
Operating Segments [Member] | Other Segments [Member] | |||
Revenues | 0 | ||
Intersegment Eliminations [Member] | |||
Revenues | (998,832) | (1,059,125) | (1,149,720) |
Intersegment Eliminations [Member] | Franchising [Member] | |||
Revenues | (3,668) | (4,932) | (5,236) |
Intersegment Eliminations [Member] | Manufacturing [Member] | |||
Revenues | (995,164) | (1,054,193) | (1,144,484) |
Intersegment Eliminations [Member] | Retail Segment [Member] | |||
Revenues | 0 | 0 | 0 |
Intersegment Eliminations [Member] | U-Swirl Segment [Member] | |||
Revenues | 0 | 0 | 0 |
Intersegment Eliminations [Member] | Other Segments [Member] | |||
Revenues | $ 0 | $ 0 | $ 0 |
Note 17 - Summarized Quarterl_3
Note 17 - Summarized Quarterly Data (Unaudited) - Quarterly Results of Operations (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 28, 2021 | Nov. 30, 2020 | Aug. 31, 2020 | May 31, 2020 | Feb. 29, 2020 | Nov. 30, 2019 | Aug. 31, 2019 | May 31, 2019 | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Revenues, Total | $ 8,221,999 | $ 7,228,867 | $ 5,327,402 | $ 2,702,437 | $ 8,125,275 | $ 7,913,252 | $ 7,385,270 | $ 8,425,999 | $ 23,480,705 | $ 31,849,796 | |
Gross margin | 1,267,473 | 1,413,765 | 940,589 | (561,005) | 1,478,176 | 1,534,424 | 1,645,605 | 1,845,867 | 3,060,822 | 6,504,072 | |
Net (Loss) Income | $ 2,167,793 | $ 523,695 | $ 76,132 | $ (3,667,397) | $ (524,228) | $ (71,637) | $ 918,088 | $ 711,609 | $ (899,777) | $ 1,033,832 | $ 2,238,799 |
Basic earnings per share (in dollars per share) | $ 0.36 | $ 0.09 | $ 0.01 | $ (0.61) | $ (0.09) | $ (0.01) | $ 0.15 | $ 0.12 | $ (0.15) | $ 0.17 | $ 0.38 |
Diluted earnings per share (in dollars per share) | $ 0.35 | $ 0.08 | $ 0.01 | $ (0.61) | $ (0.08) | $ (0.01) | $ 0.15 | $ 0.11 | $ (0.15) | $ 0.17 | $ 0.37 |
Note 18 - Costs Associated Wi_3
Note 18 - Costs Associated With Company-owned Store Closures - Costs Associated With Closures (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Costs associated with Company-owned store closures | $ 57,100 | $ 15,400 | $ 226,981 |
Loss on Distribution of Assets [Member] | |||
Costs associated with Company-owned store closures | 57,100 | 15,400 | 81,981 |
Lease Settlement Costs [Member] | |||
Costs associated with Company-owned store closures | $ 145,000 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | |
Valuation Allowance for Accounts and Notes Receivable Beginning Balance | $ 638,907 | $ 489,502 | $ 505,972 |
Valuation Allowance and Reserves Charged to Cost and Expense | 1,257,010 | 197,830 | 143,214 |
Valuation Allowances and Reserves Deductions | 441,777 | 48,425 | 159,684 |
Valuation Allowance for Accounts and Notes Receivable Ending Balance | $ 1,454,140 | $ 638,907 | $ 489,502 |