Educational Development (EDUC) 10-K 30 May 17 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Feb. 28, 2017	May 23, 2017	Aug. 31, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Educational Development Corp
Document Type	10-K
Current Fiscal Year End Date	--02-28
Entity Common Stock, Shares Outstanding		4,084,311
Entity Public Float			$ 37,764,899
Amendment Flag	false
Entity Central Index Key	31,667
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Feb. 28, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Feb. 28, 2017	Feb. 29, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 699,200	$ 1,183,700
Accounts receivable, less allowance for doubtful accounts and sales returns $675,000 (2017) and $501,900 (2016)	2,917,000	2,513,300
Inventories—Net	34,253,100	17,479,500
Prepaid expenses and other assets	695,200	1,028,100
Deferred income taxes	466,600	298,200
Total current assets	39,031,100	22,502,800
INVENTORIES—Net	192,100	169,000
PROPERTY, PLANT AND EQUIPMENT—Net	27,034,300	26,710,300
OTHER ASSETS	61,400	262,000
DEFERRED INCOME TAXES	0	50,900
TOTAL ASSETS	66,318,900	49,695,000
CURRENT LIABILITIES:
Accounts payable	17,565,300	7,801,300
Line of credit	4,882,900	3,331,800
Deferred revenues	633,100	2,925,200
Current maturities of long-term debt	898,500	615,400
Accrued salaries and commissions	1,379,700	1,202,500
Income taxes payable	1,519,400	803,100
Dividends payable	0	366,300
Other current liabilities	3,218,200	1,732,500
Total current liabilities	30,097,100	18,778,100
LONG-TERM DEBT—Net of current maturities	20,665,800	17,687,400
DEFERRED INCOME TAX LIABILITY	338,600	0
Total liabilities	51,101,500	36,465,500
COMMITMENTS (Note 8)
SHAREHOLDERS’ EQUITY:
Common stock, $0.20 par value; Authorized 8,000,000 shares; Issued 6,041,040 shares; Outstanding 4,090,074 (2017) and 4,064,610 (2016) shares	1,208,200	1,208,200
Capital in excess of par value	8,548,000	8,548,000
Retained earnings	16,317,800	14,557,500
	26,074,000	24,313,700
Less treasury stock, at cost	(10,856,600)	(11,084,200)
Total shareholders' equity	15,217,400	13,229,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 66,318,900	$ 49,695,000

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Allowance for doubtful accounts and sales returns (in Dollars)	$ 675,000	$ 501,900
Common Stock, par value (in Dollars per share)	$ 0.20	$ 0.20
Common Stock, shares authorized	8,000,000	8,000,000
Common Stock, shares issued	6,041,040	6,041,040
Common Stock, shares outstanding	4,090,074	4,064,610

STATEMENTS OF EARNINGS

STATEMENTS OF EARNINGS - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
GROSS SALES	$ 124,958,900	$ 80,319,400
Less discounts and allowances	(29,486,300)	(22,061,500)
Transportation revenue	11,155,500	5,360,400
NET REVENUES	106,628,100	63,618,300
COST OF SALES	28,613,500	20,494,200
Gross margin	78,014,600	43,124,100
OPERATING EXPENSES:
Operating and selling	35,369,200	19,419,400
Sales commissions	33,995,500	18,062,800
General and administrative	3,621,400	2,328,500
Impairment of asset	1,082,300	0
Total operating expenses	74,068,400	39,810,700
INTEREST EXPENSE	1,028,800	244,900
OTHER INCOME	(1,694,700)	(477,400)
EARNINGS BEFORE INCOME TAXES	4,612,100	3,545,900
INCOME TAXES	1,751,200	1,426,600
NET EARNINGS	$ 2,860,900	$ 2,119,300
BASIC AND DILUTED EARNINGS PER SHARE:
Basic (in Dollars per share)	$ 0.70	$ 0.52
Diluted (in Dollars per share)	$ 0.70	$ 0.52
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic (in Shares)	4,077,695	4,049,154
Diluted (in Shares)	4,082,854	4,051,678
Dividends per share (in Dollars per share)	$ 0.27	$ 0.35

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Feb. 28, 2015	$ 1,208,200	$ 8,548,000	$ 13,857,200	$ (11,285,100)	$ 12,328,300
Balance (in Shares) at Feb. 28, 2015	6,041,040			2,016,501
Purchases of treasury stock				$ (1,600)	(1,600)
Purchases of treasury stock (in Shares)				163
Sales of treasury stock				$ 202,500	202,500
Sales of treasury stock (in Shares)				(40,234)
Dividends declared			(366,300)		(366,300)
Dividends paid			(1,052,700)		(1,052,700)
Net earnings			2,119,300		2,119,300
Balance at Feb. 29, 2016	$ 1,208,200	8,548,000	14,557,500	$ (11,084,200)	$ 13,229,500
Balance (in Shares) at Feb. 29, 2016	6,041,040			1,976,430	6,041,040
Purchases of treasury stock				$ (200)	$ (200)
Purchases of treasury stock (in Shares)				23
Sales of treasury stock				$ 227,800	227,800
Sales of treasury stock (in Shares)				(25,487)
Dividends paid			(1,100,600)		(1,100,600)
Net earnings			2,860,900		2,860,900
Balance at Feb. 28, 2017	$ 1,208,200	$ 8,548,000	$ 16,317,800	$ (10,856,600)	$ 15,217,400
Balance (in Shares) at Feb. 28, 2017	6,041,040			1,950,966	6,041,040

STATEMENTS OF SHAREHOLDERS' EQ6

STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) - Retained Earnings [Member] - $ / shares	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Dividends declared		$ 0.09
Dividends paid	$ 0.27	$ 0.26

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 2,860,900	$ 2,119,300
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Impairment of asset	1,082,300	0
Depreciation	1,079,000	274,500
Deferred income taxes	221,100	(19,100)
Provision for doubtful accounts and sales returns	283,200	1,239,600
Provision for inventory valuation allowance	(25,000)	(68,100)
Changes in assets and liabilities:
Accounts receivable	(686,900)	(676,200)
Inventories, net	(16,771,700)	(6,048,600)
Prepaid expenses and other assets	533,500	(672,500)
Accounts payable, accrued salaries and commissions, and other current liabilities	11,427,000	6,837,000
Deferred revenue	(2,292,100)	2,925,200
Income tax payable	716,300	739,500
Total adjustments	(4,433,300)	4,531,300
Net cash provided by (used in) operating activities	(1,572,400)	6,650,600
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(2,485,400)	(24,911,600)
Net cash used in investing activities	(2,485,400)	(24,911,600)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments—long-term debt	(738,500)	(97,200)
Proceeds from long-term debt	4,000,000	18,400,000
Cash received from sale of treasury stock	227,800	202,500
Cash paid to acquire treasury stock	(200)	(1,600)
Net borrowings under line of credit	1,551,100	1,931,800
Dividends paid	(1,466,900)	(1,374,700)
Net cash provided by financing activities	3,573,300	19,060,800
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(484,500)	799,800
CASH AND CASH EQUIVALENTS—BEGINNING OF YEAR	1,183,700	383,900
CASH AND CASH EQUIVALENTS—END OF YEAR	699,200	1,183,700
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest	1,005,200	179,800
Cash paid for income taxes	$ 543,800	$ 706,400

1. SUMMARY OF SIGNIFICANT ACCOU

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business — Estimates — Reclassifications — Business Concentration — Cash and Cash Equivalents — Accounts Receivable — Accounts receivable also includes consignment inventory balances of inactive consultants as the Company considers these amounts to be collectable directly from the inactive consultants either through payment or the return of titles consigned. Management periodically reviews accounts receivable balances and, based on an assessment of historical bad debts, current customer receivable balances, age of customer receivable balances, customers’ financial conditions and current economic trends, estimates the portion of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation account based on its assessment of the current status of the individual accounts. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. Recoveries of accounts receivable previously written off are recorded as income when received. Management has estimated an allowance for doubtful accounts of $485,000 and $401,900 as of February 28, 2017 and February 29, 2016, respectively. Included within this allowance is $217,000 and $148,000 of reserve related to consignment inventory held by inactive consultants. Inventories — Consultants that meet certain eligibility requirements are allowed to receive inventory on consignment. Consignment inventory is stated at cost, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total value of inventory on consignment with active consultants was $1,140,700 and $571,400 at February 28, 2017 and February 29, 2016, respectively. Inventory related to inactive consultants is reclassified to accounts receivables and amounted to $309,000 and $174,000 at the end of fiscal year 2017 and 2016, respectively. Such inventory is subject to a reserve based on estimated amounts that will not be sold or returned. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and active consultant consignment inventory that is not expected to be sold or returned. Management estimates the allowance for both current and noncurrent inventory. The allowance is based on management’s identification of slow moving inventory and estimated consignment inventory that will not be sold or returned. Property, Plant and Equipment — Building 30 years Building improvements 10 – 15 years Machinery and equipment 3– 15 years Furniture and fixtures 3 years Capitalized projects that are not placed in service are recorded as in progress and are not depreciated until the related assets are placed in service. Impairments of Long-Lived Assets — Income Taxes — Revenue Recognition — Estimated allowances for sales returns are recorded as sales are recognized and recorded. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for product damaged in transit. Damaged returns are primarily from the retail stores. The damages occur in the stores, not in shipping to the stores. It is industry practice to accept returns from wholesale customers. Management has estimated and included a reserve for sales returns of $190,000 and $100,000 for the fiscal years ended February 28, 2017 and February 29, 2016, respectively. Advertising Costs — Shipping and Handling Costs — Interest Expense — Interest Expense — Earnings per Share — The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28 (29), 2017 2016 Earnings Per Share: Net earnings applicable to $ 2,860,900 $ 2,119,300 Shares: Weighted average shares 4,077,695 4,049,154 Assumed exercise of options 5,159 2,524 Weighted average shares 4,082,854 4,051,678 Diluted Earnings Per Share: Basic $ 0.70 $ 0.52 Diluted $ 0.70 $ 0.52 Stock-Based Compensation — New Accounting Pronouncements — In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” which provides a single revenue recognition model which is intended to improve comparability over a range of industries, companies and geographical boundaries and will also result in enhanced disclosures. The changes are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. We are currently reviewing the ASU and assessing the potential impact on our financial statements. In July 2015, FASB issued ASU No. 2015-11 "Inventory - Simplifying the Measurement of Inventory", which is intended to allow measurement of inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2018. We anticipate this ASU having minimal impact on our financial statements. In November 2015, FASB issued ASU No. 2015-17 “Income Taxes – Balance Sheet Classification of Deferred Taxes,” which is intended to improve how deferred taxes are classified on organizations’ balance sheets by eliminating the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will now be required to classify all deferred tax assets and liabilities as noncurrent. The changes are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, which means the first quarter of our fiscal year 2018. We anticipate this ASU having minimal impact on our financial statements. In February 2016, FASB issued ASU No. 2016-02, “Leases,” which is intended to establish a comprehensive new lease accounting model. The new standard clarifies the definition of a lease, requires a dual approach to lease classification similar to current lease classifications, and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset. The new standard is effective for interim and annual periods beginning after December 15, 2018, which means the first quarter of our fiscal year 2020. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new standard is effective for interim and annual periods beginning after December 15, 2016, which means the first quarter of our fiscal year 2018. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In June 2016, FASB issued ASU No. 2016-13 "Financial Instruments—Credit Losses", which requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2020. We anticipate this ASU having minimal impact on our financial statements.

2. INVENTORIES

2. INVENTORIES	12 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories consist of the following: February 28 (29), 2017 2016 Current: Book inventory $ 34,278,100 $ 17,504,500 Inventory valuation allowance (25,000 ) (25,000 ) Inventories net–current $ 34,253,100 $ 17,479,500 Noncurrent: Book inventory $ 467,100 $ 469,000 Inventory valuation allowance (275,000 ) (300,000 ) Inventories net–noncurrent $ 192,100 $ 169,000

3. PROPERTY, PLANT AND EQUIPMEN

3. PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	3. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: February 28 (29), 2017 2016 Land $ 4,107,200 $ 4,107,200 Building 20,321,800 20,321,800 Building improvements 1,692,500 2,735,800 Machinery and equipment 5,230,700 2,190,300 Furniture and fixtures 101,600 85,700 System installations in progress - 610,000 31,453,800 30,050,800 Less accumulated depreciation (4,419,500 ) (3,340,500 ) $ 27,034,300 $ 26,710,300 On December 1, 2015, we completed the purchase of a new facility to provide larger office and warehouse capacity which will accommodate the future growth of our operations. The land, building and equipment associated with the facility were purchased for $23,213,000, which includes $327,000 of transaction costs.

4. IMPAIRMENT

4. IMPAIRMENT	12 Months Ended
	Feb. 28, 2017
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges [Text Block]	4. IMPAIRMENT Beginning in fiscal 2015, the Company began working with a third-party to develop an integrated direct-sales order system. This system was to be used by the Company’s independent sales consultants to assist them in order processing, payment collection, genealogy tracking, commission reporting among other features. Our sales consultants started using the new system during the third quarter of fiscal 2017. During the fourth quarter of fiscal year 2017 it was concluded that the system was not fulfilling the needs of the direct-sales program. Management evaluated various alternatives, but ultimately concluded it was necessary to abandon the system as it became clear the third-party developer would be unable to get the system to operate as originally intended. As a result, we reverted to our original web-based proprietary system and recognized an impairment loss of $1.1 million, as it was determined that the system had no fair value as a result of being abandoned.

5. OTHER CURRENT LIABILITIES

5. OTHER CURRENT LIABILITIES	12 Months Ended
	Feb. 28, 2017
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	5. OTHER CURRENT LIABILITIES Other current liabilities consist of the following: February 28 (29), 2017 2016 Accrued royalties $ 721,600 $ 578,200 Accrued UBAM incentives 1,180,400 705,200 Interest payable 88,600 65,000 Sales tax payable 425,700 145,700 Other 801,900 238,400 $ 3,218,200 $ 1,732,500

6. INCOME TAXES

6. INCOME TAXES	12 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	6. INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant items comprising our net deferred tax assets and liabilities as of February 28 (29), are as follows: FY2017 FY2016 Current: Deferred tax assets: Allowance for doubtful accounts $ 164,600 $ 40,000 Inventory overhead capitalization 131,000 131,000 Inventory valuation allowance 9,500 9,500 Allowance for sales returns 72,200 38,000 Accruals 89,300 79,700 Deferred tax assets-current 466,600 298,200 Noncurrent: Deferred tax assets (liabilities): Inventory valuation allowance $ 104,500 $ 114,000 Property, plant and equipment (443,100 ) (63,100 ) Capital loss carryforward 163,600 163,600 Subtotal deferred tax assets (liabilities): (175,000 ) 214,500 Less valuation allowance (163,600 ) (163,600 ) Net deferred tax assets (liabilities)-noncurrent $ (338,600 ) $ 50,900 Management has assessed the evidence to estimate whether sufficient future capital gains will be generated to utilize the existing capital loss carryforward. As no current expectation of capital gains exists, management has determined that a valuation allowance is necessary to reduce the carrying value of the capital loss carryforward deferred tax asset as it is “more likely than not” that such assets are unrealizable. The amount of the deferred tax asset considered realizable, however, could be adjusted if future capital gains are generated during the carryforward period which ends February 28, 2019. Management has determined that no valuation allowance is necessary to reduce the carrying value of other deferred tax assets as it is “more likely than not” that such assets are realizable. The amount of the deferred tax liability related to property, plant and equipment and current income tax (payable) receivable could be adjusted if a scheduled future cost segregation analysis, expected to be completed by the end of the second fiscal quarter 2018, results in changes which affect this liability. An estimate of the range of the change in deferred tax liability cannot be made at this time. The components of income tax expense are as follows: February 28 (29), 2017 2016 Current: Federal $ 1,267,600 $ 1,210,900 State 262,500 234,800 1,530,100 1,445,700 Deferred: Federal 186,200 (16,100 ) State 34,900 (3,000 ) 221,100 (19,100 ) Total income tax expense $ 1,751,200 $ 1,426,600 The following reconciles our expected income tax expense utilizing statutory tax rates to the actual tax expense: February 28 (29), 2017 2016 Tax expense at federal statutory rate $ 1,568,200 $ 1,205,600 Federal income tax audit expense for 2012 - 67,900 State income tax–net of federal tax benefit 182,000 158,200 Other 1,000 (5,100 ) Total income tax expense $ 1,751,200 $ 1,426,600 We file our tax returns in the U.S. and certain state jurisdictions. We are no longer subject to income tax examinations by tax authorities for fiscal years before 2013. Based upon a review of our income tax filing positions, we believe that our positions would be sustained upon an audit and do not anticipate any adjustments that would result in a material change to our financial position. Therefore, no reserves for uncertain income tax positions have been recorded. We classify interest and penalties associated with income taxes as a component of income tax expense on the statement of earnings.

7. EMPLOYEE BENEFIT PLAN

7. EMPLOYEE BENEFIT PLAN	12 Months Ended
	Feb. 28, 2017
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	7. EMPLOYEE BENEFIT PLAN We have a profit sharing plan that incorporates the provisions of Section 401(k) of the Internal Revenue Code. The 401(k) plan covers substantially all employees meeting specific age and length of service requirements. Matching contributions are discretionary and amounted to $61,200 and $51,400 during the fiscal years ended February 28, 2017 and February 29, 2016, respectively. The 401(k) plan includes an option for employees to invest in our stock, which is purchased from our treasury stock shares. Shares purchased for the 401(k) plan from Treasury stock amounted to 25,487 net shares and 40,121 net shares during the fiscal years ended February 28, 2017 and February 29, 2016, respectively.

8. COMMITMENTS

8. COMMITMENTS	12 Months Ended
	Feb. 28, 2017
Disclosure Text Block Supplement [Abstract]
Commitments Disclosure [Text Block]	8. COMMITMENTS In connection with the purchase of the facility, disclosed in Note 3, we entered into a 15-year lease with the seller, a non-related third party, who leases 181,300 square feet, or 45.3% of the facility. The lease is being accounted for as an operating lease. The cost of the leased space upon acquisition was estimated at $10,159,000, which was also the carrying cost as of February 28, 2017. The accumulated depreciation associated with the leased assets was $438,700 and $88,000 for the fiscal years ended February 28, 2017 and February 29, 2016, respectively. Both the leased assets and accumulated depreciation are included in property, plant and equipment-net in the balance sheet. The lease requires payments of $105,800 per month starting December 1, 2015, with a 2.0% annual increase adjustment on each anniversary date thereafter. The lease terms allow for one five-year extension, which is not a bargain renewal option, at the expiration of the 15-year term. Revenue associated with the lease is being recorded on a straight-line basis and is reported in other income on the statement of earnings. The following table reflects future minimum rental income payments under the non-cancellable portion of this lease as of February 28, 2017: Year Ending February 28, 2018 $ 1,301,000 2019 1,327,000 2020 1,353,500 2021 1,380,600 2022 1,408,200 Thereafter 13,584,100 Total $ 20,354,400 At February 28, 2017, we had outstanding purchase commitments for inventory totaling approximately $5,969,800, which is due during fiscal year 2018. Of these commitments, $2,037,600 were with Usborne, $3,836,400 with various Kane Miller publishers and the remaining $95,700 with other suppliers. Rent expense for the year ended February 28, 2017 and February 29, 2016 was $69,500 and $26,100, respectively. As of February 28, 2017, we did not have any lease commitments in excess of one year.

9. DEBT

9. DEBT	12 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	9. DEBT Debt consists of the following: February 28 (29), 2017 2016 Line of credit $ 4,882,900 $ 3,331,800 Long-term debt $ 21,564,300 $ 18,302,800 Less current maturities (898,500 ) (615,400 ) Long-term debt, net of current maturities $ 20,665,800 $ 17,687,400 We have a Loan Agreement with MidFirst Bank (“the Bank”) which includes multiple loans. Term Loan #1 is comprised of Tranche A totaling $13.4 million and Tranche B totaling $5.0 million, both with the maturity date of December 1, 2025. Tranche A has a fixed interest rate of 4.23% and interest is payable monthly. For Tranche B, interest is payable monthly at the bank adjusted LIBOR Index plus 3.25% (4.03% at February 28, 2017). Term Loan #1 is secured by the primary office, warehouse and land. We also have Term Loan #2 with the Bank in the amount of $4.0 million with the maturity date of June 28, 2021, and interest payable monthly at the bank adjusted LIBOR Index plus 3.25% (4.03% at February 28, 2017). Term Loan #2 is secured by our secondary warehouse and land. The Loan Agreement also provides a $7.0 million revolving loan (“line of credit’) through June 15, 2017 with interest payable monthly at the bank adjusted LIBOR Index plus 3.25% (4.03% at February 28, 2017). The President and Chief Executive Officer and his wife have executed a Guaranty Agreement obligating them to repay $3,680,000 of any unpaid Term Loans, unpaid accrued interest and any recourse amounts as defined in the Continuing Guaranty Agreement. The Tranche B, the line of credit and the Term Loan #2 accrue interest at a tiered rate based on our funded debt to EBITDA ratio (“ratio”) which is payable monthly. The current pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >3.25 362.50 II >2.75 but < 350.00 III >2.25 but < 337.50 IV < 325.00 EBITDA is defined as earnings before interest expense, income tax expense (benefit) and depreciation and amortization expenses. We had $4,882,900 and $3,331,800 in borrowings outstanding on our revolving credit agreement at February 28, 2017 and February 29, 2016, respectively. Available credit under the revolving credit agreement was $2,117,100 at February 28, 2017 and $668,200 at February 29, 2016. The Loan Agreement also contains a provision for our use of the Bank’s letters of credit. The Bank agrees to issue, or obtain issuance of commercial or stand-by letters of credit provided that no letters of credit will have an expiry date later than June 15, 2017, and that the sum of the line of credit plus the letters of credit would not exceed the borrowing base in effect at the time. For the year ended February 28, 2017, we had no letters of credit outstanding. The Loan Agreement contains provisions that require us to maintain specified financial ratios, restrict transactions with related parties, prohibit mergers or consolidation, disallow additional debt, and limit the amount of compensation, salaries, investments, capital expenditures, leasing transactions and the amount of distributions we can make on a quarterly basis. Additionally, the Loan Agreement suspends dividends and stock buybacks. The following table reflects aggregate future maturities of long-term debt during the next five fiscal years and thereafter as follows: Year ending February 28, 2018 $ 898,500 2019 952,200 2020 989,600 2021 1,026,500 2022 1,069,000 Thereafter 16,628,500 $ 21,564,300

10. CAPITAL STOCK, STOCK OPTION

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS	12 Months Ended
	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS The Board of Directors adopted the 2002 Incentive Stock Option Plan (the “2002 Plan”) in June of 2002. The 2002 Plan also authorized us to grant up to 1,000,000 stock options. Options granted under the 2002 Plan vest at date of grant and are exercisable up to ten years from the date of grant. The exercise price on options granted is equal to the market price at the date of grant. Options outstanding at February 28, 2017 expire in December 2019. A summary of the status of our 2002 Plan as of February 28, 2017 and February 29, 2016, and changes during the years then ended is presented below: February 28 (29), 2017 2016 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at Beginning of Year 10,000 $ 5.25 10,000 $ 5.25 Exercised - - - - Expired - - - - Outstanding at End of Year 10,000 $ 5.25 10,000 $ 5.25 At February 28, 2017, all options outstanding are exercisable with an aggregate intrinsic value of $43,000 and weighted-average remaining contractual terms of options outstanding of 2.8 years.

11. QUARTERLY RESULTS OF OPERAT

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Feb. 28, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of the quarterly results of operations for the years ended February 28, 2017 and February 29, 2016. Basic Diluted Net Earnings Earnings Revenues Gross Margin Net Earnings Per Share Per Share 2017 First quarter $ 22,784,200 $ 16,110,400 $ 620,200 $ 0.15 $ 0.15 Second quarter 25,893,000 18,394,600 318,500 0.08 0.08 Third quarter 30,697,600 22,369,500 1,274,200 0.31 0.31 Fourth quarter 27,253,300 21,140,100 648,000 0.16 0.16 Total year $ 106,628,100 $ 78,014,600 $ 2,860,900 $ 0.70 $ 0.70 2016 First quarter $ 9,637,800 $ 6,064,000 $ 324,600 $ 0.08 $ 0.08 Second quarter 12,606,800 8,029,400 644,400 0.16 0.16 Third quarter 24,424,200 17,038,000 1,258,500 0.31 0.31 Fourth quarter 16,949,500 11,992,700 (108,200 ) (0.03 ) (0.03 ) Total year $ 63,618,300 $ 43,124,100 $ 2,119,300 $ 0.52 $ 0.52

12. BUSINESS SEGMENTS

12. BUSINESS SEGMENTS	12 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	12. BUSINESS SEGMENTS We have two reportable segments: EDC Publishing and UBAM which are business units that offer different methods of distribution to different types of customers. They are managed separately based on the fundamental differences in their operations. · EDC Publishing markets its products to retail accounts, which include book, toy and gift stores, school supply stores and museums, through commissioned sales representatives, trade and specialty wholesalers and an internal telesales group. · UBAM markets its product line through a nationwide network of independent sales consultants using a combination of home shows, internet shows, and book fairs. UBAM also distributes to school and public libraries. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate segment performance based on earnings (loss) before income taxes of the segments, which is defined as segment net sales reduced by direct cost of sales and direct expenses. Corporate expenses, depreciation, interest expense, other income and income taxes are not allocated to the segments, but are listed in the “other” column. Corporate expenses include the executive department, accounting department, information services department, general office management and building facilities management. Our assets and liabilities are not allocated on a segment basis. Information by industry segment for the years ended February 28, 2017 and February 29, 2016 is set forth below: NET REVENUES 2017 2016 EDC Publishing $ 9,007,500 $ 10,831,400 UBAM 97,620,600 52,786,900 Total $ 106,628,100 $ 63,618,300 EARNINGS (LOSS) BEFORE INCOME TAXES 2017 2016 EDC Publishing $ 2,566,400 $ 3,305,300 UBAM 15,376,000 7,336,200 Other (13,330,300 ) (7,095,600 ) Total $ 4,612,100 $ 3,545,900

13. STOCK REPURCHASE PLAN

13. STOCK REPURCHASE PLAN	12 Months Ended
	Feb. 28, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	13. STOCK REPURCHASE PLAN In April 2008, the Board of Directors authorized us to purchase up to an additional 500,000 shares of our common stock under the plan initiated in 1998. This plan has no expiration date. During fiscal year 2017, we purchased 23 shares of common stock at an average price of $8.70 per share totaling approximately $200. The maximum number of shares that may be repurchased in the future is 303,129.

14. FAIR VALUE MEASUREMENTS

14. FAIR VALUE MEASUREMENTS	12 Months Ended
	Feb. 28, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	14. FAIR VALUE MEASUREMENTS The valuation hierarchy included in U.S. GAAP considers the transparency of inputs used to value assets and liabilities as of the measurement date. The less transparent or observable the inputs used to value assets and liabilities, the lower the classification of the assets and liabilities in the valuation hierarchy. A financial instrument's classification within the valuation hierarchy is based on the lowest level of input that is significant to its fair value measurement. The three levels of the valuation hierarchy and the classification of our financial assets and liabilities within the hierarchy are as follows: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 - Observable inputs other than quoted prices included within Level 1 for the asset or liability, either directly or indirectly. If an asset or liability has a specified term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 - Unobservable inputs for the asset or liability. We do not report any assets or liabilities at fair value in the financial statements. However, the estimated fair value of our line of credit is estimated by management to approximate the carrying value of $4,882,900 and $3,331,800 at February 28, 2017 and February 29, 2016, respectively. The estimated fair value of our term notes payable is estimated by management to approximate $20,130,100 at February 28, 2017 and $18,078,300 February 29, 2016, respectively. Management's estimates are based on the obligations' characteristics, including floating interest rate, maturity, and collateral. Such valuation inputs are considered a Level 2 measurement in the fair value valuation hierarchy.

15. SUBSEQUENT EVENT

15. SUBSEQUENT EVENT	12 Months Ended
	Feb. 28, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	15. SUBSEQUENT EVENTS None.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Nature of Business —
Use of Estimates, Policy [Policy Text Block]	Estimates —
Reclassification, Policy [Policy Text Block]	Reclassifications —
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Business Concentration —
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents —
Receivables, Policy [Policy Text Block]	Accounts Receivable — Accounts receivable also includes consignment inventory balances of inactive consultants as the Company considers these amounts to be collectable directly from the inactive consultants either through payment or the return of titles consigned. Management periodically reviews accounts receivable balances and, based on an assessment of historical bad debts, current customer receivable balances, age of customer receivable balances, customers’ financial conditions and current economic trends, estimates the portion of the balance that will not be collected. Management provides for probable uncollectible amounts through a charge to earnings and a credit to a valuation account based on its assessment of the current status of the individual accounts. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. Recoveries of accounts receivable previously written off are recorded as income when received. Management has estimated an allowance for doubtful accounts of $485,000 and $401,900 as of February 28, 2017 and February 29, 2016, respectively. Included within this allowance is $217,000 and $148,000 of reserve related to consignment inventory held by inactive consultants.
Inventory, Policy [Policy Text Block]	Inventories — Consultants that meet certain eligibility requirements are allowed to receive inventory on consignment. Consignment inventory is stated at cost, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total value of inventory on consignment with active consultants was $1,140,700 and $571,400 at February 28, 2017 and February 29, 2016, respectively. Inventory related to inactive consultants is reclassified to accounts receivables and amounted to $309,000 and $174,000 at the end of fiscal year 2017 and 2016, respectively. Such inventory is subject to a reserve based on estimated amounts that will not be sold or returned. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and active consultant consignment inventory that is not expected to be sold or returned. Management estimates the allowance for both current and noncurrent inventory. The allowance is based on management’s identification of slow moving inventory and estimated consignment inventory that will not be sold or returned.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment — Building 30 years Building improvements 10 – 15 years Machinery and equipment 3– 15 years Furniture and fixtures 3 years Capitalized projects that are not placed in service are recorded as in progress and are not depreciated until the related assets are placed in service.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairments of Long-Lived Assets —
Income Tax, Policy [Policy Text Block]	Income Taxes —
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition — Estimated allowances for sales returns are recorded as sales are recognized and recorded. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for product damaged in transit. Damaged returns are primarily from the retail stores. The damages occur in the stores, not in shipping to the stores. It is industry practice to accept returns from wholesale customers. Management has estimated and included a reserve for sales returns of $190,000 and $100,000 for the fiscal years ended February 28, 2017 and February 29, 2016, respectively.
Advertising Costs, Policy [Policy Text Block]	Advertising Costs —
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs —
Interest Expense, Policy [Policy Text Block]	Interest Expense —
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share — The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28 (29), 2017 2016 Earnings Per Share: Net earnings applicable to $ 2,860,900 $ 2,119,300 Shares: Weighted average shares 4,077,695 4,049,154 Assumed exercise of options 5,159 2,524 Weighted average shares 4,082,854 4,051,678 Diluted Earnings Per Share: Basic $ 0.70 $ 0.52 Diluted $ 0.70 $ 0.52
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation —
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements — In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” which provides a single revenue recognition model which is intended to improve comparability over a range of industries, companies and geographical boundaries and will also result in enhanced disclosures. The changes are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, which means the first quarter of our fiscal year 2019. We are currently reviewing the ASU and assessing the potential impact on our financial statements. In July 2015, FASB issued ASU No. 2015-11 "Inventory - Simplifying the Measurement of Inventory", which is intended to allow measurement of inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2018. We anticipate this ASU having minimal impact on our financial statements. In November 2015, FASB issued ASU No. 2015-17 “Income Taxes – Balance Sheet Classification of Deferred Taxes,” which is intended to improve how deferred taxes are classified on organizations’ balance sheets by eliminating the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will now be required to classify all deferred tax assets and liabilities as noncurrent. The changes are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods, which means the first quarter of our fiscal year 2018. We anticipate this ASU having minimal impact on our financial statements. In February 2016, FASB issued ASU No. 2016-02, “Leases,” which is intended to establish a comprehensive new lease accounting model. The new standard clarifies the definition of a lease, requires a dual approach to lease classification similar to current lease classifications, and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset. The new standard is effective for interim and annual periods beginning after December 15, 2018, which means the first quarter of our fiscal year 2020. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new standard is effective for interim and annual periods beginning after December 15, 2016, which means the first quarter of our fiscal year 2018. We are currently reviewing the ASU and evaluating the potential impact on our financial statements. In June 2016, FASB issued ASU No. 2016-13 "Financial Instruments—Credit Losses", which requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, which means the first quarter of our fiscal year 2020. We anticipate this ASU having minimal impact on our financial statements.

1. SUMMARY OF SIGNIFICANT ACC24

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Feb. 28, 2017
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Year Ended February 28 (29), 2017 2016 Earnings Per Share: Net earnings applicable to $ 2,860,900 $ 2,119,300 Shares: Weighted average shares 4,077,695 4,049,154 Assumed exercise of options 5,159 2,524 Weighted average shares 4,082,854 4,051,678 Diluted Earnings Per Share: Basic $ 0.70 $ 0.52 Diluted $ 0.70 $ 0.52
Property, Plant and Equipment, Estimated Useful Life [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment are stated at cost and depreciated on a straight-line basis over the estimated useful lives, as follows: Building 30 years Building improvements 10 – 15 years Machinery and equipment 3– 15 years Furniture and fixtures 3 years

2. INVENTORIES (Tables)

2. INVENTORIES (Tables)	12 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories consist of the following: February 28 (29), 2017 2016 Current: Book inventory $ 34,278,100 $ 17,504,500 Inventory valuation allowance (25,000 ) (25,000 ) Inventories net–current $ 34,253,100 $ 17,479,500
Schedule of Inventory, Noncurrent [Table Text Block]	Inventories consist of the following: Noncurrent: Book inventory $ 467,100 $ 469,000 Inventory valuation allowance (275,000 ) (300,000 ) Inventories net–noncurrent $ 192,100 $ 169,000

3. PROPERTY, PLANT AND EQUIPM26

3. PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Member]
3. PROPERTY, PLANT AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consist of the following: February 28 (29), 2017 2016 Land $ 4,107,200 $ 4,107,200 Building 20,321,800 20,321,800 Building improvements 1,692,500 2,735,800 Machinery and equipment 5,230,700 2,190,300 Furniture and fixtures 101,600 85,700 System installations in progress - 610,000 31,453,800 30,050,800 Less accumulated depreciation (4,419,500 ) (3,340,500 ) $ 27,034,300 $ 26,710,300

5. OTHER CURRENT LIABILITIES (T

5. OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Feb. 28, 2017
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Current Liabilities [Table Text Block]	Other current liabilities consist of the following: February 28 (29), 2017 2016 Accrued royalties $ 721,600 $ 578,200 Accrued UBAM incentives 1,180,400 705,200 Interest payable 88,600 65,000 Sales tax payable 425,700 145,700 Other 801,900 238,400 $ 3,218,200 $ 1,732,500

6. INCOME TAXES (Tables)

6. INCOME TAXES (Tables)	12 Months Ended
	Feb. 28, 2017
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant items comprising our net deferred tax assets and liabilities as of February 28 (29), are as follows: FY2017 FY2016 Current: Deferred tax assets: Allowance for doubtful accounts $ 164,600 $ 40,000 Inventory overhead capitalization 131,000 131,000 Inventory valuation allowance 9,500 9,500 Allowance for sales returns 72,200 38,000 Accruals 89,300 79,700 Deferred tax assets-current 466,600 298,200 Noncurrent: Deferred tax assets (liabilities): Inventory valuation allowance $ 104,500 $ 114,000 Property, plant and equipment (443,100 ) (63,100 ) Capital loss carryforward 163,600 163,600 Subtotal deferred tax assets (liabilities): (175,000 ) 214,500 Less valuation allowance (163,600 ) (163,600 ) Net deferred tax assets (liabilities)-noncurrent $ (338,600 ) $ 50,900
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income tax expense are as follows: February 28 (29), 2017 2016 Current: Federal $ 1,267,600 $ 1,210,900 State 262,500 234,800 1,530,100 1,445,700 Deferred: Federal 186,200 (16,100 ) State 34,900 (3,000 ) 221,100 (19,100 ) Total income tax expense $ 1,751,200 $ 1,426,600
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following reconciles our expected income tax expense utilizing statutory tax rates to the actual tax expense: February 28 (29), 2017 2016 Tax expense at federal statutory rate $ 1,568,200 $ 1,205,600 Federal income tax audit expense for 2012 - 67,900 State income tax–net of federal tax benefit 182,000 158,200 Other 1,000 (5,100 ) Total income tax expense $ 1,751,200 $ 1,426,600

8. COMMITMENTS (Tables)

8. COMMITMENTS (Tables)	12 Months Ended
	Feb. 28, 2017
Disclosure Text Block Supplement [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table reflects future minimum rental income payments under the non-cancellable portion of this lease as of February 28, 2017: Year Ending February 28, 2018 $ 1,301,000 2019 1,327,000 2020 1,353,500 2021 1,380,600 2022 1,408,200 Thereafter 13,584,100 Total $ 20,354,400

9. DEBT (Tables)

9. DEBT (Tables)	12 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt consists of the following: February 28 (29), 2017 2016 Line of credit $ 4,882,900 $ 3,331,800 Long-term debt $ 21,564,300 $ 18,302,800 Less current maturities (898,500 ) (615,400 ) Long-term debt, net of current maturities $ 20,665,800 $ 17,687,400
Schedule of Long-term Debt Instruments [Table Text Block]	The Tranche B, the line of credit and the Term Loan #2 accrue interest at a tiered rate based on our funded debt to EBITDA ratio (“ratio”) which is payable monthly. The current pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >3.25 362.50 II >2.75 but < 350.00 III >2.25 but < 337.50 IV < 325.00
Schedule of Maturities of Long-term Debt [Table Text Block]	The following table reflects aggregate future maturities of long-term debt during the next five fiscal years and thereafter as follows: Year ending February 28, 2018 $ 898,500 2019 952,200 2020 989,600 2021 1,026,500 2022 1,069,000 Thereafter 16,628,500 $ 21,564,300

10. CAPITAL STOCK, STOCK OPTI31

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Tables)	12 Months Ended
	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of our 2002 Plan as of February 28, 2017 and February 29, 2016, and changes during the years then ended is presented below: February 28 (29), 2017 2016 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at Beginning of Year 10,000 $ 5.25 10,000 $ 5.25 Exercised - - - - Expired - - - - Outstanding at End of Year 10,000 $ 5.25 10,000 $ 5.25

11. QUARTERLY RESULTS OF OPER32

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Feb. 29, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	The following is a summary of the quarterly results of operations for the years ended February 28, 2017 and February 29, 2016. Basic Diluted Net Earnings Earnings Revenues Gross Margin Net Earnings Per Share Per Share 2017 First quarter $ 22,784,200 $ 16,110,400 $ 620,200 $ 0.15 $ 0.15 Second quarter 25,893,000 18,394,600 318,500 0.08 0.08 Third quarter 30,697,600 22,369,500 1,274,200 0.31 0.31 Fourth quarter 27,253,300 21,140,100 648,000 0.16 0.16 Total year $ 106,628,100 $ 78,014,600 $ 2,860,900 $ 0.70 $ 0.70 2016 First quarter $ 9,637,800 $ 6,064,000 $ 324,600 $ 0.08 $ 0.08 Second quarter 12,606,800 8,029,400 644,400 0.16 0.16 Third quarter 24,424,200 17,038,000 1,258,500 0.31 0.31 Fourth quarter 16,949,500 11,992,700 (108,200 ) (0.03 ) (0.03 ) Total year $ 63,618,300 $ 43,124,100 $ 2,119,300 $ 0.52 $ 0.52

12. BUSINESS SEGMENTS (Tables)

12. BUSINESS SEGMENTS (Tables)	12 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information by industry segment for the years ended February 28, 2017 and February 29, 2016 is set forth below: NET REVENUES 2017 2016 EDC Publishing $ 9,007,500 $ 10,831,400 UBAM 97,620,600 52,786,900 Total $ 106,628,100 $ 63,618,300 EARNINGS (LOSS) BEFORE INCOME TAXES 2017 2016 EDC Publishing $ 2,566,400 $ 3,305,300 UBAM 15,376,000 7,336,200 Other (13,330,300 ) (7,095,600 ) Total $ 4,612,100 $ 3,545,900

1. SUMMARY OF SIGNIFICANT ACC34

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Payments for (Proceeds from) Other Investing Activities	$ 45,400,000	$ 29,800,000
Cash, FDIC Insured Amount	250,000
Allowance for Doubtful Accounts Receivable	485,000	401,900
Allowance for Doubtful Other Receivables, Current	217,000	148,000
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	1,140,700	571,400
Increase (Decrease) in Accounts and Other Receivables	309,000	174,000
Asset Impairment Charges	1,082,300	0
Revenue Recognition, Sales Returns, Reserve for Sales Returns	190,000	100,000
Advertising Expense	266,400	531,500
Shipping, Handling and Transportation Costs	16,637,500	8,655,600
Interest Expense	1,028,800	244,900
Usborne Books and More [Member]
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Payments for (Proceeds from) Other Investing Activities	34,800,000	$ 20,000,000
Accounts Payable, Other, Current	$ 13,900,000

1. SUMMARY OF SIGNIFICAN

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Property, Plant and Equipment	12 Months Ended
	Feb. 28, 2017
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	30 years
Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	15 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years

1. SUMMARY OF SIGNIFIC36

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Diluted Earnings Per Share - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016
Earnings Per Share:
Net earnings applicable to common shareholders (in Dollars)									$ 2,860,900	$ 2,119,300
Shares:
Weighted average shares outstanding–basic									4,077,695	4,049,154
Assumed exercise of options									5,159	2,524
Weighted average shares outstanding–diluted									4,082,854	4,051,678
Diluted Earnings Per Share:
Basic (in Dollars per share)	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ (0.03)	$ 0.31	$ 0.16	$ 0.08	$ 0.70	$ 0.52
Diluted (in Dollars per share)	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ (0.03)	$ 0.31	$ 0.16	$ 0.08	$ 0.70	$ 0.52

2. INVENTORIES (Details

2. INVENTORIES (Details) - Schedule of Inventory, Current - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Current:
Book inventory	$ 34,278,100	$ 17,504,500
Inventory valuation allowance	(25,000)	(25,000)
Inventories net–current	$ 34,253,100	$ 17,479,500

2. INVENTORIES (Detai38

2. INVENTORIES (Details) - Schedule of Inventory, Noncurrent - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Noncurrent:
Book inventory	$ 467,100	$ 469,000
Inventory valuation allowance	(275,000)	(300,000)
Inventories net–noncurrent	$ 192,100	$ 169,000

3. PROPERTY, PLANT AND EQUIPM39

3. PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Dec. 01, 2015	Feb. 28, 2017	Feb. 29, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Additions	$ 23,213,000
Payments to Acquire Property, Plant, and Equipment	$ 327,000	$ 2,485,400	$ 24,911,600

3. PROPERTY, PLANT AND E

3. PROPERTY, PLANT AND EQUIPMENT (Details) - Schedule of Property, Plant and Equipment - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 31,453,800	$ 30,050,800
Less accumulated depreciation	(4,419,500)	(3,340,500)
Property, Plant and Equipment, Net	27,034,300	26,710,300
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,107,200	4,107,200
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	20,321,800	20,321,800
Less accumulated depreciation	(438,700)	(88,000)
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,692,500	2,735,800
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,230,700	2,190,300
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	101,600	85,700
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 0	$ 610,000

4. IMPAIRMENT (Details)

4. IMPAIRMENT (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Disclosure Text Block Supplement [Abstract]
Asset Impairment Charges	$ 1,082,300	$ 0

5. OTHER CURRENT LIABILI

5. OTHER CURRENT LIABILITIES (Details) - Schedule of Other Current Liabilities - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Schedule of Other Current Liabilities [Abstract]
Accrued royalties	$ 721,600	$ 578,200
Accrued UBAM incentives	1,180,400	705,200
Interest payable	88,600	65,000
Sales tax payable	425,700	145,700
Other	801,900	238,400
	$ 3,218,200	$ 1,732,500

6. INCOME TAXES (Detail

6. INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Deferred tax assets:
Allowance for doubtful accounts	$ 164,600	$ 40,000
Inventory overhead capitalization	131,000	131,000
Inventory valuation allowance	9,500	9,500
Allowance for sales returns	72,200	38,000
Accruals	89,300	79,700
Deferred tax assets-current	466,600	298,200
Deferred tax assets (liabilities):
Inventory valuation allowance	104,500	114,000
Property, plant and equipment	(443,100)	(63,100)
Capital loss carryforward	163,600	163,600
Subtotal deferred tax assets (liabilities):	(175,000)	214,500
Less valuation allowance	(163,600)	(163,600)
Net deferred tax assets (liabilities)-noncurrent	$ (338,600)	$ 50,900

6. INCOME TAXES (Deta44

6. INCOME TAXES (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Current:
Federal	$ 1,267,600	$ 1,210,900
State	262,500	234,800
	1,530,100	1,445,700
Deferred:
Federal	186,200	(16,100)
State	34,900	(3,000)
	221,100	(19,100)
Total income tax expense	$ 1,751,200	$ 1,426,600

6. INCOME TAXES (Deta45

6. INCOME TAXES (Details) - Schedule of Effective Income Tax Rate Reconciliation - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Schedule of Effective Income Tax Rate Reconciliation [Abstract]
Tax expense at federal statutory rate	$ 1,568,200	$ 1,205,600
Federal income tax audit expense for 2012	0	67,900
State income tax–net of federal tax benefit	182,000	158,200
Other	1,000	(5,100)
Total income tax expense	$ 1,751,200	$ 1,426,600

7. EMPLOYEE BENEFIT PLAN (Detai

7. EMPLOYEE BENEFIT PLAN (Details) - 401(k) Plan [Member] - USD ($)	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
7. EMPLOYEE BENEFIT PLAN (Details) [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 61,200	$ 51,400
Stock Issued During Period, Shares, Treasury Stock Reissued	25,487	40,121

8. COMMITMENTS (Details)

8. COMMITMENTS (Details)	12 Months Ended
	Feb. 28, 2017USD ($)ft²	Feb. 29, 2016USD ($)
8. COMMITMENTS (Details) [Line Items]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 4,419,500	$ 3,340,500
Operating Leases, Rent Expense	69,500	26,100
Inventory [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 5,969,800
Building [Member]
8. COMMITMENTS (Details) [Line Items]
Lessee, Operating Lease, Term of Contract	15 years
Area of Real Estate Property (in Square Feet) | ft²	181,300
Area of Real Estate, Percentage Leased	45.30%
Buildings and Improvements, Gross	$ 10,159,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 438,700	$ 88,000
Description of Lessee Leasing Arrangements, Operating Leases	The lease requires payments of $105,800 per month starting December 1, 2015, with a 2.0% annual increase adjustment on each anniversary date thereafter.
Operating Leases, Rent Expense, Minimum Rentals	$ 105,800
Lessee, Operating Lease, Renewal Term	5 years
Usborne Books and More [Member] | Inventory [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 2,037,600
Kane Miller [Member] | Inventory [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	3,836,400
Other Suppliers [Member] | Inventory [Member]
8. COMMITMENTS (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 95,700

8. COMMITMENTS (Details) - Sche

8. COMMITMENTS (Details) - Schedule of Future Minimum Rental Payments for Operating Leases	Feb. 28, 2017USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
2,018	$ 1,301,000
2,019	1,327,000
2,020	1,353,500
2,021	1,380,600
2,022	1,408,200
Thereafter	13,584,100
Total	$ 20,354,400

9. DEBT (Details)

9. DEBT (Details) - USD ($)	Dec. 01, 2015	Feb. 28, 2017	Feb. 29, 2016
9. DEBT (Details) [Line Items]
Long-term Line of Credit		$ 4,882,900	$ 3,331,800
Line of Credit Facility, Remaining Borrowing Capacity		2,117,100
Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Guarantor Obligations, Current Carrying Value		3,680,000
Line of Credit [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity			$ 668,200
Line of Credit [Member] | Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 7,000,000
Line of Credit [Member] | Term Loan # 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.25%
Line of Credit Facility, Interest Rate at Period End		4.03%
Notes Payable to Banks [Member] | Tranche A [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 13,400,000
Debt Instrument, Interest Rate, Stated Percentage	4.23%
Debt Instrument, Payment Terms	interest is payable monthly
Notes Payable to Banks [Member] | Tranche B [Member]
9. DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Line of Credit Facility, Expiration Date	Dec. 1, 2025
Debt Instrument, Payment Terms		interest payable monthly at the bank adjusted LIBOR Index plus 3.25%
Debt Instrument, Interest Rate During Period		4.03%
Notes Payable to Banks [Member] | Tranche B [Member] | London Interbank Offered Rate (LIBOR) [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.25%
Notes Payable to Banks [Member] | Term Loan # 2 [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Face Amount		$ 4,000,000
Debt Instrument, Maturity Date		Jun. 28, 2021
Notes Payable to Banks [Member] | Term Loan # 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
9. DEBT (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.25%
Debt Instrument, Interest Rate During Period		4.03%

9. DEBT (Details)

9. DEBT (Details) - Schedule of Debt - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Schedule of Debt [Abstract]
Line of credit	$ 4,882,900	$ 3,331,800
Long-term debt	21,564,300	18,302,800
Less current maturities	(898,500)	(615,400)
Long-term debt, net of current maturities	$ 20,665,800	$ 17,687,400

9. DEBT (Detail51

9. DEBT (Details) - Schedule of Long-term Debt Instruments	12 Months Ended
	Feb. 28, 2017
Pricing Tier I [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>3.25
Pricing Tier I [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
LIBOR Margin	362.50%
Pricing Tier II [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>2.75 but <3.25
Pricing Tier II [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
LIBOR Margin	350.00%
Pricing Tier III [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>2.25 but <2.75
Pricing Tier III [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
LIBOR Margin	337.50%
Pricing Tier IV [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	<2.25
Pricing Tier IV [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
LIBOR Margin	325.00%

9. DEBT (Detail52

9. DEBT (Details) - Schedule of Maturities of Long-term Debt - USD ($)	Feb. 28, 2017	Feb. 29, 2016
Schedule of Maturities of Long-term Debt [Abstract]
2,018	$ 898,500
2,019	952,200
2,020	989,600
2,021	1,026,500
2,022	1,069,000
Thereafter	16,628,500
	$ 21,564,300	$ 18,302,800

10. CAPITAL STOCK, STOCK OPTI53

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) - 2002 Plan [Member] - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2002	Feb. 28, 2017
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares)	1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	exercise price on options granted is equal to the market price at the date of grant
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value (in Dollars)		$ 43,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		2 years 292 days
Maximum [Member]
10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	10 years

10. CAPITAL STOCK, STOCK

10. CAPITAL STOCK, STOCK OPTIONS AND WARRANTS (Details) - Schedule of Stock Option Activity - $ / shares	12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Outstanding at
Beginning of Year	10,000	10,000
Beginning of Year	$ 5.25	$ 5.25
Exercised	0	0
Exercised	$ 0	$ 0
Expired	0	0
Expired	$ 0	$ 0
Outstanding at End of Year	10,000	10,000
Outstanding at End of Year	$ 5.25	$ 5.25

11. QUARTERLY RESULTS OF O

11. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Schedule of Quarterly Financial Information - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016
Schedule of Quarterly Financial Information [Abstract]
Net Revenues	$ 27,253,300	$ 30,697,600	$ 25,893,000	$ 22,784,200	$ 16,949,500	$ 24,424,200	$ 12,606,800	$ 9,637,800	$ 106,628,100	$ 63,618,300
Gross Margin	21,140,100	22,369,500	18,394,600	16,110,400	11,992,700	17,038,000	8,029,400	6,064,000	78,014,600	43,124,100
Net Earnings	$ 648,000	$ 1,274,200	$ 318,500	$ 620,200	$ (108,200)	$ 1,258,500	$ 644,400	$ 324,600	$ 2,860,900	$ 2,119,300
Basic Earnings Per Share (in Dollars per share)	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ (0.03)	$ 0.31	$ 0.16	$ 0.08	$ 0.70	$ 0.52
Diluted Earnings Per Share (in Dollars per share)	$ 0.16	$ 0.31	$ 0.08	$ 0.15	$ (0.03)	$ 0.31	$ 0.16	$ 0.08	$ 0.70	$ 0.52

12. BUSINESS SEGMENTS (Details)

12. BUSINESS SEGMENTS (Details)	12 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Number of Reportable Segments	2

12. BUSINESS SEGMENTS (De

12. BUSINESS SEGMENTS (Details) - Schedule of Information by Industry Segment - USD ($)	3 Months Ended								12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2017	Feb. 29, 2016
Segment Reporting Information [Line Items]
Net Revenues	$ 27,253,300	$ 30,697,600	$ 25,893,000	$ 22,784,200	$ 16,949,500	$ 24,424,200	$ 12,606,800	$ 9,637,800	$ 106,628,100	$ 63,618,300
Earnings (Loss) Before Income Taxes									4,612,100	3,545,900
Publishing [Member]
Segment Reporting Information [Line Items]
Net Revenues									9,007,500	10,831,400
Earnings (Loss) Before Income Taxes									2,566,400	3,305,300
Usborne Books and More [Member]
Segment Reporting Information [Line Items]
Net Revenues									97,620,600	52,786,900
Earnings (Loss) Before Income Taxes									15,376,000	7,336,200
Other Segments [Member]
Segment Reporting Information [Line Items]
Earnings (Loss) Before Income Taxes									$ (13,330,300)	$ (7,095,600)

13. STOCK REPURCHASE PLAN (Deta

13. STOCK REPURCHASE PLAN (Details) - USD ($)	12 Months Ended
	Feb. 28, 2017	Apr. 30, 2008
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		500,000
Stock Repurchased During Period, Shares	23
Stock Repurchased During Period, Average Price Paid (in Dollars per share)	$ 8.70
Stock Repurchased During Period, Value (in Dollars)	$ 200
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	303,129

14. FAIR VALUE MEASUREMENTS (De

14. FAIR VALUE MEASUREMENTS (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($)	Feb. 28, 2017	Feb. 29, 2016
14. FAIR VALUE MEASUREMENTS (Details) [Line Items]
Lines of Credit, Fair Value Disclosure	$ 4,882,900	$ 3,331,800
Long-term Debt, Fair Value	$ 20,130,100	$ 18,078,300