Educational Development (EDUC) 10-Q 15 Oct 18 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Aug. 31, 2018	Oct. 10, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Educational Development Corp
Document Type	10-Q
Current Fiscal Year End Date	--02-28
Entity Common Stock, Shares Outstanding		8,195,598
Amendment Flag	false
Entity Central Index Key	31,667
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Aug. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false

CONDENSED BALANCE SHEETS (UNAUD

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($)	Aug. 31, 2018	Feb. 28, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 833,000	$ 2,723,300
Accounts receivable, less allowance for doubtful accounts $254,800 (August 31) and $297,100 (February 28)	3,161,300	2,913,700
Inventories - Net	33,515,300	26,618,600
Prepaid expenses and other assets	1,294,800	1,259,000
Total current assets	38,804,400	33,514,600
INVENTORIES - Net	579,300	435,900
PROPERTY, PLANT AND EQUIPMENT - Net	27,835,200	27,860,500
OTHER ASSETS	26,900	26,900
TOTAL ASSETS	67,245,800	61,837,900
CURRENT LIABILITIES
Accounts payable	14,596,900	12,469,000
Line of credit	2,598,700	0
Deferred revenues	458,200	693,000
Current maturities of long-term debt	895,500	881,200
Accrued salaries and commissions	1,877,300	2,007,900
Income taxes payable	1,166,400	1,798,800
Other current liabilities	2,369,100	3,517,900
Total current liabilities	23,962,100	21,367,800
LONG-TERM DEBT - Net of current maturities	19,343,600	19,825,100
DEFERRED INCOME TAXES - Net	388,000	136,900
OTHER LONG-TERM LIABILITIES	109,000	106,000
Total liabilities	43,802,700	41,435,800
SHAREHOLDERS' EQUITY
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,092,080 (August 31 and February 28) shares; Outstanding 8,189,702 (August 31) and 8,179,612 (February 28) shares	2,418,400	2,418,400
Capital in excess of par value	8,643,300	8,573,300
Retained earnings	23,612,800	20,714,500
	34,674,500	31,706,200
Less treasury stock, at cost	(11,231,400)	(11,304,100)
Total shareholders' equity	23,443,100	20,402,100
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 67,245,800	$ 61,837,900

CONDENSED BALANCE SHEETS (UNA_2

CONDENSED BALANCE SHEETS (UNAUDITED) (Parentheticals) - USD ($)	Aug. 31, 2018	Feb. 28, 2018
Allowance for doubtful accounts (in Dollars)	$ 254,800	$ 297,100
Common Stock, par value (in Dollars per share)	$ 0.20	$ 0.20
Common Stock, shares authorized	16,000,000	16,000,000
Common Stock, shares issued	12,092,080	12,092,080
Common Stock, shares outstanding	8,189,702	8,179,612

CONDENSED STATEMENTS OF EARNING

CONDENSED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
REVENUES	$ 24,681,000	$ 24,186,900	$ 54,703,300	$ 51,128,100
COST OF GOODS SOLD	8,462,700	7,650,300	18,132,400	16,249,100
Gross margin	16,218,300	16,536,600	36,570,900	34,879,000
OPERATING EXPENSE:
Operating and selling	3,261,600	3,336,300	8,013,800	7,563,100
Sales commissions	7,313,000	7,739,700	16,686,100	16,248,900
General and administrative	3,738,400	3,910,500	7,630,900	7,624,400
Total operating expenses	14,313,000	14,986,500	32,330,800	31,436,400
INTEREST EXPENSE	270,000	294,700	483,400	576,200
OTHER INCOME	(400,300)	(427,300)	(774,700)	(798,500)
EARNINGS BEFORE INCOME TAXES	2,035,600	1,682,700	4,531,400	3,664,900
INCOME TAXES	544,900	645,800	1,224,100	1,402,700
NET EARNINGS	$ 1,490,700	$ 1,036,900	$ 3,307,300	$ 2,262,200
BASIC AND DILUTED EARNINGS PER SHARE
Basic (in Dollars per share)	$ 0.18	$ 0.13	$ 0.40	$ 0.28
Diluted (in Dollars per share)	$ 0.18	$ 0.13	$ 0.40	$ 0.28
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING
Basic (in Shares)	8,185,419	8,171,296	8,181,305	8,175,791
Diluted (in Shares)	8,192,833	8,181,258	8,188,920	8,184,507
Dividends per share (in Dollars per share)			$ 0.05
Gross revenue [Member]
REVENUES	$ 33,013,600	$ 30,500,600	$ 72,088,400	$ 65,011,700
Discounts and Allowances [Member]
REVENUES	(10,444,700)	(8,797,300)	(22,346,100)	(19,067,800)
Transportation Revenue [Member]
REVENUES	$ 2,112,100	$ 2,483,600	$ 4,961,000	$ 5,184,200

CONDENSED STATEMENT OF CHANGES

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - 6 months ended Aug. 31, 2018 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Feb. 28, 2018	$ 2,418,400	$ 8,573,300	$ 20,714,500	$ (11,304,100)	$ 20,402,100
Balance (in Shares) at Feb. 28, 2018	12,092,080			3,912,468
Purchases of treasury stock				$ (29,600)	(29,600)
Purchases of treasury stock (in Shares)				2,846
Sales of treasury stock				$ 102,300	102,300
Sales of treasury stock (in Shares)				(12,936)
Dividends paid ($0.05/share)			(409,000)		(409,000)
2019 Long-Term Incentive Plan		70,000			70,000
Net earnings			3,307,300		3,307,300
Balance at Aug. 31, 2018	$ 2,418,400	$ 8,643,300	$ 23,612,800	$ (11,231,400)	$ 23,443,100
Balance (in Shares) at Aug. 31, 2018	12,092,080			3,902,378

CONDENSED STATEMENT OF CHANGE_2

CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parentheticals)	6 Months Ended
	Aug. 31, 2018$ / shares
Dividends declared /share	$ 0.05

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 3,307,300	$ 2,262,200
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation	717,600	585,500
Deferred income taxes, net	251,100	206,200
Provision for doubtful accounts	17,200	(114,000)
Provision for inventory valuation allowance	176,300	198,700
Share-based compensation expense	70,000	0
Changes in assets and liabilities:
Accounts receivable	(264,800)	33,200
Inventories, net	(7,216,400)	4,812,800
Prepaid expenses and other assets	(35,800)	(318,800)
Accounts payable	2,767,400	(8,800,400)
Accrued salaries and commissions, and other liabilities	(1,276,400)	267,200
Deferred revenues	(234,800)	14,000
Income tax payable	(632,400)	(103,500)
Total adjustments	(5,661,000)	(3,219,100)
Net cash used in operating activities	(2,353,700)	(956,900)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(1,331,800)	(1,227,500)
Net cash used in investing activities	(1,331,800)	(1,227,500)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term debt	(467,200)	(430,500)
Proceeds from long-term debt	0	1,019,100
Cash received from sale of treasury stock	102,300	18,600
Cash used to purchase treasury stock	(29,600)	(55,600)
Net borrowings under line of credit	2,598,700	1,366,000
Dividends paid	(409,000)	0
Net cash provided by financing activities	1,795,200	1,917,600
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,890,300)	(266,800)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	2,723,300	699,200
CASH AND CASH EQUIVALENTS - END OF PERIOD	833,000	432,400
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest	454,800	558,900
Cash paid for income taxes	$ 1,596,100	$ 1,162,300

Note 1 - BASIS OF PRESENTATION

Note 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Aug. 31, 2018
Disclosure Text Block [Abstract]
Business Description and Basis of Presentation [Text Block]	Note 1 Basis of Presentation The accompanying Unaudited Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim condensed financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. The Unaudited Condensed Financial Statements include all adjustments considered necessary for a fair presentation of the financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed herein. Accordingly, the Unaudited Condensed Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim Unaudited Condensed Financial Statements should be read in conjunction with our audited financial statements as of and for the year ended February 28, 2018 included in our Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for a full year due to the seasonality of our product sales. On July 24, 2018, our Board of Directors authorized a two-for-one stock split in the form of a stock dividend. The stock dividend was distributed on August 22, 2018 to shareholders of record as of August 14, 2018. All share-based data, including the number of shares outstanding and per share amounts, have been retroactively adjusted to reflect the stock split for all periods presented. Reclassifications Certain reclassifications have been made to the fiscal 2018 condensed balance sheets, condensed statement of earnings and consolidated statement of cash flows to conform to the classifications used in fiscal 2019. These reclassifications had no effect on net earnings. Use of Estimates in the Preparation of Financial Statements The preparation of the Unaudited Condensed Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Significant Accounting Policies Our significant accounting policies are consistent with those disclosed in Note 1 to our audited financial statements as of and for the year ended February 28, 2018 included in our Form 10-K. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. We have reviewed the recently issued accounting standards updates (“ASU”) and concluded that the following recently issued accounting standards apply to us. In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” (Topic 606) 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. The amendments in this series of updates shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company adopted Topic 606, Revenue from Contracts with Customers, with a date of initial application of March 1, 2018, using the full retrospective method applied to all contracts. Results for all reporting periods are presented under Topic 606. As a result of adopting this new accounting guidance, the Company has changed the method of accounting for its hostess awards program from reporting the net cost of these awards in operating and selling expenses to allocating a portion of the transaction price to the material right and reporting these in gross sales and discounts with the associated costs in cost of goods sold. The new reporting of these awards increases gross sales and increases discounts and allowances for a similar amount, having an immaterial effect on net revenues and no effect on net earnings or retained earnings, but lowering the Company’s gross margin percentage. The Company has also removed the allowance for sales returns from the net accounts receivable amount reported on the balance sheet. The allowance for sales returns has been adjusted to reflect a refund liability and a return asset. The cumulative impact of adoption of the new revenue recognition standard had no impact on net earnings and retained earnings (See Note 11). 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 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 to have minimal impact on our financial statements. In August 2016, FASB issued ASU No. 2016-15 “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.” The guidance’s objective is to reduce diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The new standards required date of adoption is effective for fiscal years beginning after December 15, 2017. This standard was adopted as of March 1, 2018. Adoption of this new standard did not have a material impact on our financial statements. In May 2017, FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting.” This update amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The new standard is required to be applied prospectively. The guidance was effective March 1, 2018, and the adoption of this ASU did not have a material impact on our financial statements.

Note 2 - INVENTORIES

Note 2 - INVENTORIES	6 Months Ended
	Aug. 31, 2018
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 2 Inventories consist of the following: 2018 August 31, February 28, Current: Book inventory $ 33,818,600 $ 27,078,600 Inventory valuation allowance (303,300 ) (460,000 ) Inventories net – current $ 33,515,300 $ 26,618,600 Noncurrent: Book inventory $ 943,700 $ 707,700 Inventory valuation allowance (364,400 ) (271,800 ) Inventories net – noncurrent $ 579,300 $ 435,900 Book inventory quantities in excess of what we expect will be sold within the normal operating cycle, based on 2.5 years of anticipated sales, are included in non-current inventory. Significant portions of our inventory purchases are concentrated with an England-based publishing company, Usborne Publishing, Ltd. (“Usborne”). Purchases from this company were approximately $7.9 million and $9.4 million for the three months ended August 31, 2018 and 2017, respectively. Total inventory purchases from all suppliers were $10.6 million and $11.3 million for the three months ended August 31, 2018 and 2017, respectively. Purchases from Usborne were approximately $15.5 million and $11.3 million for the six months ended August 31, 2018 and 2017, respectively. Total inventory purchases from all suppliers were $21.6 million and $16.6 million for the six months ended August 31, 2018 and 2017, respectively.

Note 3 - DEBT

Note 3 - DEBT	6 Months Ended
	Aug. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 3 Debt consists of the following: 2018 August 31, February 28, Line of credit $ 2,598,700 $ - Long-term debt $ 20,239,100 $ 20,706,300 Less current maturities (895,500 ) (881,200 ) Long-term debt, net of current maturities $ 19,343,600 $ 19,825,100 We have a Loan Agreement dated as of March 10, 2016 (as amended the “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 a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio (4.58% at August 31, 2018). 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 a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio (4.58% at August 31, 2018). Term Loan #2 is secured by our secondary warehouse and land. The Loan Agreement also provided a $15.0 million revolving loan (“line of credit”) through August 15, 2019 with interest payable monthly at the bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio (4.58% at August 31, 2018). The Tranche B, the line of credit and the Term Loan #2 accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA Ratio, which is payable monthly. The variable interest pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >2.00 325.00 II >1.50 but < 300.00 III >1.00 but < 275.00 IV < 250.00 EBITDA is defined in the Loan Agreement as earnings before interest expense, income tax expense (benefit) and depreciation and amortization expenses. We had $2,598,700 and no borrowings outstanding on our revolving credit agreement at August 31, 2018 and February 28, 2018, respectively. Available credit under the revolving credit agreement was $8,867,700 and $9,424,000 at August 31, 2018 and at February 28, 2018, respectively. On June 15, 2018 the Company executed the Eighth Amendment Loan Agreement with the Bank related to our Loan Agreement dated as of March 10, 2016. This Amendment established a new $3,000,000 advancing term loan to be used for capital expansions to increase daily shipping capacity. We had no borrowings outstanding on the advancing term loan at August 31, 2018. 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 August 15, 2019, 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 quarter ended August 31, 2018, 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, prohibits mergers or consolidation, disallow additional debt, and limit the amount of compensation, salaries, investments, capital expenditures, leasing transactions we can make on a quarterly basis. Additionally, the Loan Agreement places limitations on the amount of dividends that may be distributed and certain stock buyback transactions. 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 (29 ), 2019 $ 434,200 2020 925,900 2021 967,700 2022 1,016,300 2023 1,064,900 Thereafter 15,830,100 Total $ 20,239,100

Note 4 - EARNINGS PER SHARE

Note 4 - EARNINGS PER SHARE	6 Months Ended
	Aug. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 4 Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted EPS is based on the combined weighted average number of common shares outstanding and dilutive potential common shares issuable which include, where appropriate, the assumed exercise of options. In computing diluted EPS, we have utilized the treasury stock method. See Note 1 for additional information regarding the stock split that occurred in fiscal 2019. The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below. Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Earnings per share: Net earnings applicable to common shareholders $ 1,490,700 $ 1,036,900 $ 3,307,300 $ 2,262,200 Shares: Weighted average shares outstanding-basic 8,185,419 8,171,296 8,181,305 8,175,791 Assumed exercise of options 7,414 9,962 7,615 8,716 Weighted average shares outstanding-diluted 8,192,833 8,181,258 8,188,920 8,184,507 Diluted earnings per share: Basic $ 0.18 $ 0.13 $ 0.40 $ 0.28 Diluted $ 0.18 $ 0.13 $ 0.40 $ 0.28

Note 5 - STOCK-BASED COMPENSATI

Note 5 - STOCK-BASED COMPENSATION	6 Months Ended
	Aug. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 5 We account for stock-based compensation whereby share-based payment transactions with employees, such as stock options and restricted stock, are measured at estimated fair value at the date of grant. For awards subject to service conditions compensation expense is recognized over the vesting period on a straight-line basis. Awards subject to performance conditions are attributed separately for each vesting tranche of the award and are recognized ratably from the service inception date to the vesting date for each tranche. Forfeitures are recognized when they occur. The Company has outstanding stock options under the 2002 Employee Incentive Stock Option Plan totaling 10,000 shares. No options have been exercised in the three and six months ended August 31, 2018. All options outstanding at August 31, 2018 expire in December 2019. In July 2018, our shareholders approved the Company’s 2019 Long-Term Incentive Plan (“2019 LTI Plan”). The 2019 LTI Plan establishes up to 600,000 shares of restricted stock which can be granted to certain members of management based on exceeding specified net revenues and pre-tax performance metrics during fiscal years 2019, 2020 and 2021. Restricted shares granted under the 2019 LTI Plan “cliff vest” after five years. The restricted share awards granted under the 2019 LTI Plan contain both service and performance conditions. The Company recognizes share compensation expense only for the portion of the restricted share awards that are considered probable of vesting. Shares are considered granted, and the service inception date begins, when a mutual understanding of the key terms and conditions between the Company and the employees have been established. The fair value of these awards is determined based on the closing price of the shares on the grant date. The probability of restricted share awards granted with future performance conditions is evaluated at each reporting period and compensation expense is adjusted based on the probability assessment. For certain awards that provide discretion to adjust the allocation of the restricted shares, the service-inception date for such awards could precede the grant date as a mutual understanding of the key terms and conditions between the Company and the employees has not yet been established. For awards in which the service-inception date precedes the grant date, compensation cost is accrued beginning on the service-inception date. The Company estimates the award's fair value on each subsequent reporting date, until the grant date, based on the closing market price of the Company’s common stock. On the grant date, the award's fair value is fixed, subject to the remaining performance conditions, and the cumulative amount of previously recognized compensation expense is adjusted to the fair value at the grant date. On July 24, 2018, the Company granted approximately 239,000 restricted shares under the 2019 LTI Plan with a grant-date fair value of $9.57 per share. In addition, the Company authorized approximately 80,000 restricted shares under the 2019 LTI Plan in which the service-inception date was established resulting in the fair value of these awards being measured at $12.00 per share, the closing price of the Company's stock at August 31, 2018. The grant date for these awards will be established when a mutual understanding of the key terms and conditions is reached between the Company and the employees. The remaining compensation expense of the above awards will be recognized ratably from the service inception date to the vesting date for this tranche which is approximately 54 months. The number of restricted shares to be distributed depends on attaining the performance metrics defined by the 2019 LTI Plan and may result in the distribution of a number of shares that is greater or less than the number of restricted shares granted, as outlined in the terms of the 2019 LTI Plan. A summary of compensation expense recognized in connection with restricted share awards follows: Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Compensation Expense $ 70,000 $ - $ 70,000 $ -

Note 6 - SHIPPING AND HANDLING

Note 6 - SHIPPING AND HANDLING COSTS	6 Months Ended
	Aug. 31, 2018
Disclosure Text Block [Abstract]
Other Operating Income and Expense [Text Block]	Note 6 We classify shipping and handling costs as operating and selling expenses in the statements of earnings. Shipping and handling costs include postage, freight, handling costs, as well as, shipping materials and supplies. These costs were $3,259,900 and $3,121,500 for the three months ended August 31, 2018 and 2017, respectively. These costs were $7,658,900 and $6,871,200 for the six months ended August 31, 2018 and 2017, respectively.

Note 7 - COMMITMENTS

Note 7 - COMMITMENTS	6 Months Ended
	Aug. 31, 2018
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Note 7 In connection with the 2015 purchase of our 400,000 square-foot facility on 40-acres, we entered in to 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 August 31, 2018. The lessee pays $110,100 per month, through the lease anniversary date of December 2018, 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 statements of earnings. At August 31, 2018, we had outstanding purchase commitments for inventory totaling approximately $13,627,000 which will be due during fiscal year 2019. Of these commitments, $8,344,000 were with Usborne, $4,861,200 with various Kane Miller publishers and the remaining $421,800 with other suppliers.

Note 8 - BUSINESS SEGMENTS

Note 8 - BUSINESS SEGMENTS	6 Months Ended
	Aug. 31, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 8 We have two reportable segments: Usborne Books & More (“UBAM”) and Publishing. These reportable segments 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. Our Publishing segment markets its products to retail accounts, which include book, school supply, toy and gift stores and museums, through commissioned sales representatives, trade and specialty wholesalers and an internal tele-sales group. Our UBAM segment markets its products through a network of independent sales consultants using a combination of direct sales, home shows, book fairs and internet sales. The accounting policies of the segments are the same as those of the rest of the Company. We evaluate segment performance based on earnings before income taxes of the segments, which is defined as segment net sales reduced by cost of sales and direct expenses. Corporate expenses, depreciation, interest expense and income taxes are not allocated to the segments but are listed in the “Other” row below. 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 reporting segment for the three and six-month periods ended August 31, 2018 and 2017, follows: NET REVENUES Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Publishing $ 2,605,500 $ 1,977,000 $ 4,911,700 $ 4,099,100 UBAM 22,075,500 22,209,900 49,791,600 47,029,000 Total $ 24,681,000 $ 24,186,900 $ 54,703,300 $ 51,128,100 EARNINGS (LOSS) BEFORE INCOME TAXES Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Publishing $ 636,700 $ 388,300 $ 1,143,000 $ 957,400 UBAM 4,277,100 4,570,300 9,376,100 8,949,800 Other (2,878,200 ) (3,275,900 ) (5,987,700 ) (6,242,300 ) Total $ 2,035,600 $ 1,682,700 $ 4,531,400 $ 3,664,900

Note 9 - FAIR VALUE MEASUREMENT

Note 9 - FAIR VALUE MEASUREMENTS	6 Months Ended
	Aug. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 9 The valuation hierarchy included in U.S. GAAP considers the transparency of inputs used to value assets and liabilities as of the measurement date. 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 $2,598,700 and $0 at August 31, 2018 and February 28, 2018, respectively. The estimated fair value of our term notes payable is estimated by management to approximate $19,492,300 and $19,454,500 at August 31, 2018 and February 28, 2018, 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.

Note 10 - DEFERRED REVENUES

Note 10 - DEFERRED REVENUES	6 Months Ended
	Aug. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note 10 As of the end of our second quarter, we had received approximately $458,200 in payments for sales orders which were shipped out subsequent to the quarter end. As of August 31, 2018, these prepaid sales orders are included in deferred revenues on the condensed balance sheet.

Note 11 - REVENUE RECOGNITION

Note 11 - REVENUE RECOGNITION	6 Months Ended
	Aug. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 11 Revenue is derived from the sales of children’s books and related products which are generally capable of being distinct and accounted for as single performance obligation to deliver tangible goods. Substantially all of our books are sold to end consumers and publishing retail outlets. Accordingly, revenues are recognized at shipping point, which is the point in time the customer obtains control of the products. Shipping and handling fees are recorded as operating and selling expenses when the product is shipped and revenue is recognized. The Company estimates product returns based on historical return rates. The majority of the Company's contracts have a single performance obligation and are short term in nature. Sales taxes, that are collected from customers and remitted to governmental authorities, are accounted for on a net basis and therefore are excluded from net sales. Adoption ASC Topic 606, “Revenue from Contracts with Customers” On March 1, 2018, the Company adopted Topic 606, as prescribed by the FASB, using the full retrospective method. Results for all reporting periods are presented under Topic 606. There was no change to net earnings or retained earnings due to the adoption of Topic 606, with the impact primarily related to the recording of our hostess award program in gross sales and discounts and allowances, as opposed to recording the net costs in operating and selling expenses. Disaggregation of Revenue Please refer to Note 8 – Business Segments for revenue by segment. Arrangements with Multiple Performance Obligations Certain contracts associated with the hostess awards program include sales incentives, such as discounted or free products. These incentives provide a separate performance obligation in the contract and material right to the customer. The transaction price is allocated to the material right based on its relative standalone selling price and is recognized in revenue as the performance obligations are satisfied, which occurs at shipping point or at the expiration of the material right. As our sales incentives are delivered with the associated products ordered, there is no deferral required. Revenue allocated to the material right are recognized in gross sales, discounts and allowances and cost of goods sold in our condensed statement of earnings. Practical Expedients and Exemptions The Company generally expenses sales commissions when incurred. These costs are recorded within operating expenses. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Impact on Financial Statements As a result of applying Topic 606, the impact to the Company’s condensed consolidated balance sheet as of February 28, 2018 was as follows: Without As Reported Adjustments Adoption ASSETS Accounts receivable-Net $ 2,913,700 $ (99,900 ) $ 2,813,800 Inventories-Net 26,618,600 (100 ) 26,618,500 Prepaid expenses and other assets 1,259,000 (117,000 ) 1,142,000 Total current assets 33,514,600 (217,000 ) 33,297,600 TOTAL ASSETS 61,837,900 (217,000 ) 61,620,900 LIABILITIES Other current liabilities 3,517,900 (217,000 ) 3,300,900 Total liabilities 41,435,800 (217,000 ) 41,218,800 As a result of applying Topic 606, the impact to the Company’s condensed statement of earnings for the three months ended August 31, 2017 was as follows: Without As Reported Adjustm ents Adoption GROSS SALES $ 30,500,600 $ (2,579,600 ) $ 27,921,000 Less discounts and allowances (8,797,300 ) 2,574,000 (6,223,300 ) Transportation revenue 2,483,600 - 2,483,600 NET REVENUES 24,186,900 (5,600 ) 24,181,300 COST OF GOODS SOLD 7,650,300 (990,700 ) 6,659,600 Gross margin 16,536,600 985,100 17,521,700 OPERATING EXPENSE: Operating and selling 3,336,300 983,900 4,320,200 Sales commissions 7,739,700 - 7,739,700 General and administrative 3,910,500 - 3,910,500 Total operating expenses 14,986,500 983,900 15,970,400 INTEREST EXPENSE 294,700 - 294,700 OTHER INCOME (427,300 ) 1,200 (426,100 ) EARNINGS BEFORE INCOME TAXES 1,682,700 - 1,682,700 INCOME TAXES 645,800 - 645,800 NET EARNINGS $ 1,036,900 $ - $ 1,036,900 As a result of applying Topic 606, the impact to the Company’s operating results by reporting segment for the three months ended August 31, 2017 was as follows: UBAM Without As Reported Adjustments Adoption GROSS SALES $ 26,312,700 $ (2,579,600 ) $ 23,733,100 Less discounts and allowances (6,577,100 ) 2,574,000 (4,003,100 ) Transportation revenue 2,474,300 - 2,474,300 NET REVENUES 22,209,900 (5,600 ) 22,204,300 COST OF GOODS SOLD 6,516,300 (990,700 ) 5,525,600 Gross margin 15,693,600 985,100 16,678,700 OPERATING EXPENSE: Operating and selling 2,578,000 983,800 3,561,800 Sales commissions 7,664,100 - 7,664,100 General and administrative 881,200 - 881,200 Total operating expenses 11,123,300 983,800 12,107,100 OPERATING INCOME $ 4,570,300 $ 1,300 $ 4,571,600 Publishing Without As Reported Adjustm ents Adoption GROSS SALES $ 4,187,900 $ - $ 4,187,900 Less discounts and allowances (2,220,200 ) - (2,220,200 ) Transportation revenue 9,300 - 9,300 NET REVENUES 1,977,000 - 1,977,000 COST OF GOODS SOLD 1,134,000 - 1,134,000 Gross margin 843,000 - 843,000 OPERATING EXPENSE: Operating and selling 294,100 - 294,100 Sales commissions 75,600 - 75,600 General and administrative 85,000 - 85,000 Total operating expenses 454,700 - 454,700 OPERATING INCOME $ 388,300 $ - $ 388,300 As a result of applying Topic 606, the impact to the Company’s condensed statement of earnings for the six months ended August 31, 2017 was as follows: Without As Reported Adjustments Adoption GROSS SALES $ 65,011,700 $ (5,916,800 ) $ 59,094,900 Less discounts and allowances (19,067,800 ) 5,900,800 (13,167,000 ) Transportation revenue 5,184,200 - 5,184,200 NET REVENUES 51,128,100 (16,000 ) 51,112,100 COST OF GOODS SOLD 16,249,100 (2,164,700 ) 14,084,400 Gross margin 34,879,000 2,148,700 37,027,700 OPERATING EXPENSE: Operating and selling 7,563,100 2,149,500 9,712,600 Sales commissions 16,248,900 - 16,248,900 General and administrative 7,624,400 - 7,624,400 Total operating expenses 31,436,400 2,149,500 33,585,900 INTEREST EXPENSE 576,200 - 576,200 OTHER INCOME (798,500 ) (800 ) (799,300 ) EARNINGS BEFORE INCOME TAXES 3,664,900 - 3,664,900 INCOME TAXES 1,402,700 - 1,402,700 NET EARNINGS $ 2,262,200 $ - $ 2,262,200 As a result of applying Topic 606, the impact to the Company’s operating results by reporting segment for the six months ended August 31, 2017 was as follows: UBAM Without As Reported Adjust ments Adoption GROSS SALES $ 56,299,000 $ (5,917,500 ) $ 50,381,500 Less discounts and allowances (14,437,800 ) 5,901,500 (8,536,300 ) Transportation revenue 5,167,800 - 5,167,800 NET REVENUES 47,029,000 (16,000 ) 47,013,000 COST OF GOODS SOLD 13,990,000 (2,164,700 ) 11,825,300 Gross margin 33,039,000 2,148,700 35,187,700 OPERATING EXPENSE: Operating and selling 5,743,200 2,148,700 7,891,900 Sales commissions 16,087,800 - 16,087,800 General and administrative 2,258,200 - 2,258,200 Total operating expenses 24,089,200 2,148,700 26,237,900 OPERATING INCOME $ 8,949,800 $ - $ 8,949,800 Publishing Without As Reported Adjust ments Adoption GROSS SALES $ 8,712,700 $ 700 $ 8,713,400 Less discounts and allowances (4,630,000 ) (700 ) (4,630,700 ) Transportation revenue 16,400 - 16,400 NET REVENUES 4,099,100 - 4,099,100 COST OF GOODS SOLD 2,259,100 - 2,259,100 Gross margin 1,840,000 - 1,840,000 OPERATING EXPENSE: Operating and selling 539,000 - 539,000 Sales commissions 161,100 - 161,100 General and administrative 182,500 - 182,500 Total operating expenses 882,600 - 882,600 OPERATING INCOME $ 957,400 $ - $ 957,400

Note 12 - SUBSEQUENT EVENT

Note 12 - SUBSEQUENT EVENT	6 Months Ended
	Aug. 31, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 12 In September 2018, our board of directors declared a distribution of $0.05 per share of common stock. This cash distribution was paid on September 26, 2018 to shareholders of record on September 17, 2018. The total cash distributions paid under this declaration was approximately $409,100.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Aug. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying Unaudited Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim condensed financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. The Unaudited Condensed Financial Statements include all adjustments considered necessary for a fair presentation of the financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed herein. Accordingly, the Unaudited Condensed Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim Unaudited Condensed Financial Statements should be read in conjunction with our audited financial statements as of and for the year ended February 28, 2018 included in our Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for a full year due to the seasonality of our product sales.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made to the fiscal 2018 condensed balance sheets, condensed statement of earnings and consolidated statement of cash flows to conform to the classifications used in fiscal 2019. These reclassifications had no effect on net earnings.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates in the Preparation of Financial Statements The preparation of the Unaudited Condensed Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. We have reviewed the recently issued accounting standards updates (“ASU”) and concluded that the following recently issued accounting standards apply to us. In May 2014, FASB issued ASU No. 2014-09, and amended with ASU No. 2015-14 “Revenue from Contracts with Customers,” (Topic 606) 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. The amendments in this series of updates shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company adopted Topic 606, Revenue from Contracts with Customers, with a date of initial application of March 1, 2018, using the full retrospective method applied to all contracts. Results for all reporting periods are presented under Topic 606. As a result of adopting this new accounting guidance, the Company has changed the method of accounting for its hostess awards program from reporting the net cost of these awards in operating and selling expenses to allocating a portion of the transaction price to the material right and reporting these in gross sales and discounts with the associated costs in cost of goods sold. The new reporting of these awards increases gross sales and increases discounts and allowances for a similar amount, having an immaterial effect on net revenues and no effect on net earnings or retained earnings, but lowering the Company’s gross margin percentage. The Company has also removed the allowance for sales returns from the net accounts receivable amount reported on the balance sheet. The allowance for sales returns has been adjusted to reflect a refund liability and a return asset. The cumulative impact of adoption of the new revenue recognition standard had no impact on net earnings and retained earnings (See Note 11). 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 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 to have minimal impact on our financial statements. In August 2016, FASB issued ASU No. 2016-15 “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.” The guidance’s objective is to reduce diversity in practice of how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The new standards required date of adoption is effective for fiscal years beginning after December 15, 2017. This standard was adopted as of March 1, 2018. Adoption of this new standard did not have a material impact on our financial statements. In May 2017, FASB issued ASU 2017-09, “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting.” This update amends the scope of modification accounting surrounding share-based payment arrangements as issued in ASU 2016-09 by providing guidance on the various types of changes which would trigger modification accounting for share-based payment awards. This ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. The new standard is required to be applied prospectively. The guidance was effective March 1, 2018, and the adoption of this ASU did not have a material impact on our financial statements.

Note 2 - INVENTORIES (Tables)

Note 2 - INVENTORIES (Tables)	6 Months Ended
	Aug. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory [Table Text Block]	Inventories consist of the following: 2018 August 31, February 28, Current: Book inventory $ 33,818,600 $ 27,078,600 Inventory valuation allowance (303,300 ) (460,000 ) Inventories net – current $ 33,515,300 $ 26,618,600 Noncurrent: Book inventory $ 943,700 $ 707,700 Inventory valuation allowance (364,400 ) (271,800 ) Inventories net – noncurrent $ 579,300 $ 435,900

Note 3 - DEBT (Tables)

Note 3 - DEBT (Tables)	6 Months Ended
	Aug. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt consists of the following: 2018 August 31, February 28, Line of credit $ 2,598,700 $ - Long-term debt $ 20,239,100 $ 20,706,300 Less current maturities (895,500 ) (881,200 ) Long-term debt, net of current maturities $ 19,343,600 $ 19,825,100
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 Adjusted Funded Debt to EBITDA Ratio, which is payable monthly. The variable interest pricing tier is as follows: Pricing Tier Adjusted Funded Debt to EBITDA Ratio LIBOR Margin (bps) I >2.00 325.00 II >1.50 but < 300.00 III >1.00 but < 275.00 IV < 250.00
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 (29 ), 2019 $ 434,200 2020 925,900 2021 967,700 2022 1,016,300 2023 1,064,900 Thereafter 15,830,100 Total $ 20,239,100

Note 4 - EARNINGS PER SHARE (Ta

Note 4 - EARNINGS PER SHARE (Tables)	6 Months Ended
	Aug. 31, 2018
Earnings Per Share [Abstract]
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. Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Earnings per share: Net earnings applicable to common shareholders $ 1,490,700 $ 1,036,900 $ 3,307,300 $ 2,262,200 Shares: Weighted average shares outstanding-basic 8,185,419 8,171,296 8,181,305 8,175,791 Assumed exercise of options 7,414 9,962 7,615 8,716 Weighted average shares outstanding-diluted 8,192,833 8,181,258 8,188,920 8,184,507 Diluted earnings per share: Basic $ 0.18 $ 0.13 $ 0.40 $ 0.28 Diluted $ 0.18 $ 0.13 $ 0.40 $ 0.28

Note 5 - STOCK-BASED COMPENSA_2

Note 5 - STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Aug. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	A summary of compensation expense recognized in connection with restricted share awards follows: Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Compensation Expense $ 70,000 $ - $ 70,000 $ -

Note 8 - BUSINESS SEGMENTS (Tab

Note 8 - BUSINESS SEGMENTS (Tables)	6 Months Ended
	Aug. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information by reporting segment for the three and six-month periods ended August 31, 2018 and 2017, follows: NET REVENUES Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Publishing $ 2,605,500 $ 1,977,000 $ 4,911,700 $ 4,099,100 UBAM 22,075,500 22,209,900 49,791,600 47,029,000 Total $ 24,681,000 $ 24,186,900 $ 54,703,300 $ 51,128,100 EARNINGS (LOSS) BEFORE INCOME TAXES Three Months Ended August 31, Six Months Ended August 31, 2018 2017 2018 2017 Publishing $ 636,700 $ 388,300 $ 1,143,000 $ 957,400 UBAM 4,277,100 4,570,300 9,376,100 8,949,800 Other (2,878,200 ) (3,275,900 ) (5,987,700 ) (6,242,300 ) Total $ 2,035,600 $ 1,682,700 $ 4,531,400 $ 3,664,900

Note 11 - REVENUE RECOGNITION (

Note 11 - REVENUE RECOGNITION (Tables)	6 Months Ended
	Aug. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Without As Reported Adjustments Adoption ASSETS Accounts receivable-Net $ 2,913,700 $ (99,900 ) $ 2,813,800 Inventories-Net 26,618,600 (100 ) 26,618,500 Prepaid expenses and other assets 1,259,000 (117,000 ) 1,142,000 Total current assets 33,514,600 (217,000 ) 33,297,600 TOTAL ASSETS 61,837,900 (217,000 ) 61,620,900 LIABILITIES Other current liabilities 3,517,900 (217,000 ) 3,300,900 Total liabilities 41,435,800 (217,000 ) 41,218,800 Without As Reported Adjustm ents Adoption GROSS SALES $ 30,500,600 $ (2,579,600 ) $ 27,921,000 Less discounts and allowances (8,797,300 ) 2,574,000 (6,223,300 ) Transportation revenue 2,483,600 - 2,483,600 NET REVENUES 24,186,900 (5,600 ) 24,181,300 COST OF GOODS SOLD 7,650,300 (990,700 ) 6,659,600 Gross margin 16,536,600 985,100 17,521,700 OPERATING EXPENSE: Operating and selling 3,336,300 983,900 4,320,200 Sales commissions 7,739,700 - 7,739,700 General and administrative 3,910,500 - 3,910,500 Total operating expenses 14,986,500 983,900 15,970,400 INTEREST EXPENSE 294,700 - 294,700 OTHER INCOME (427,300 ) 1,200 (426,100 ) EARNINGS BEFORE INCOME TAXES 1,682,700 - 1,682,700 INCOME TAXES 645,800 - 645,800 NET EARNINGS $ 1,036,900 $ - $ 1,036,900 Without As Reported Adjustments Adoption GROSS SALES $ 65,011,700 $ (5,916,800 ) $ 59,094,900 Less discounts and allowances (19,067,800 ) 5,900,800 (13,167,000 ) Transportation revenue 5,184,200 - 5,184,200 NET REVENUES 51,128,100 (16,000 ) 51,112,100 COST OF GOODS SOLD 16,249,100 (2,164,700 ) 14,084,400 Gross margin 34,879,000 2,148,700 37,027,700 OPERATING EXPENSE: Operating and selling 7,563,100 2,149,500 9,712,600 Sales commissions 16,248,900 - 16,248,900 General and administrative 7,624,400 - 7,624,400 Total operating expenses 31,436,400 2,149,500 33,585,900 INTEREST EXPENSE 576,200 - 576,200 OTHER INCOME (798,500 ) (800 ) (799,300 ) EARNINGS BEFORE INCOME TAXES 3,664,900 - 3,664,900 INCOME TAXES 1,402,700 - 1,402,700 NET EARNINGS $ 2,262,200 $ - $ 2,262,200
Disaggregation of Revenue [Table Text Block]	Without As Reported Adjustments Adoption GROSS SALES $ 26,312,700 $ (2,579,600 ) $ 23,733,100 Less discounts and allowances (6,577,100 ) 2,574,000 (4,003,100 ) Transportation revenue 2,474,300 - 2,474,300 NET REVENUES 22,209,900 (5,600 ) 22,204,300 COST OF GOODS SOLD 6,516,300 (990,700 ) 5,525,600 Gross margin 15,693,600 985,100 16,678,700 OPERATING EXPENSE: Operating and selling 2,578,000 983,800 3,561,800 Sales commissions 7,664,100 - 7,664,100 General and administrative 881,200 - 881,200 Total operating expenses 11,123,300 983,800 12,107,100 OPERATING INCOME $ 4,570,300 $ 1,300 $ 4,571,600 Without As Reported Adjustm ents Adoption GROSS SALES $ 4,187,900 $ - $ 4,187,900 Less discounts and allowances (2,220,200 ) - (2,220,200 ) Transportation revenue 9,300 - 9,300 NET REVENUES 1,977,000 - 1,977,000 COST OF GOODS SOLD 1,134,000 - 1,134,000 Gross margin 843,000 - 843,000 OPERATING EXPENSE: Operating and selling 294,100 - 294,100 Sales commissions 75,600 - 75,600 General and administrative 85,000 - 85,000 Total operating expenses 454,700 - 454,700 OPERATING INCOME $ 388,300 $ - $ 388,300 Without As Reported Adjust ments Adoption GROSS SALES $ 56,299,000 $ (5,917,500 ) $ 50,381,500 Less discounts and allowances (14,437,800 ) 5,901,500 (8,536,300 ) Transportation revenue 5,167,800 - 5,167,800 NET REVENUES 47,029,000 (16,000 ) 47,013,000 COST OF GOODS SOLD 13,990,000 (2,164,700 ) 11,825,300 Gross margin 33,039,000 2,148,700 35,187,700 OPERATING EXPENSE: Operating and selling 5,743,200 2,148,700 7,891,900 Sales commissions 16,087,800 - 16,087,800 General and administrative 2,258,200 - 2,258,200 Total operating expenses 24,089,200 2,148,700 26,237,900 OPERATING INCOME $ 8,949,800 $ - $ 8,949,800 Without As Reported Adjust ments Adoption GROSS SALES $ 8,712,700 $ 700 $ 8,713,400 Less discounts and allowances (4,630,000 ) (700 ) (4,630,700 ) Transportation revenue 16,400 - 16,400 NET REVENUES 4,099,100 - 4,099,100 COST OF GOODS SOLD 2,259,100 - 2,259,100 Gross margin 1,840,000 - 1,840,000 OPERATING EXPENSE: Operating and selling 539,000 - 539,000 Sales commissions 161,100 - 161,100 General and administrative 182,500 - 182,500 Total operating expenses 882,600 - 882,600 OPERATING INCOME $ 957,400 $ - $ 957,400

Note 2 - INVENTORIES (Details)

Note 2 - INVENTORIES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Note 2 - INVENTORIES (Details) [Line Items]
Payments for Purchase of Other Assets	$ 10.6	$ 11.3	$ 21.6	$ 16.6
England Based Publishing Company [Member]
Note 2 - INVENTORIES (Details) [Line Items]
Payments for Purchase of Other Assets	$ 7.9	$ 9.4	$ 15.5	$ 11.3

Note 2 - INVENTORIES (Details)

Note 2 - INVENTORIES (Details) - Schedule of Inventory - USD ($)	Aug. 31, 2018	Feb. 28, 2018
Note 2 - INVENTORIES (Details) - Schedule of Inventory [Line Items]
Inventories net–non-current	$ 579,300	$ 435,900
Inventories net–current	33,515,300	26,618,600
Inventory, Current [Member]
Note 2 - INVENTORIES (Details) - Schedule of Inventory [Line Items]
Book inventory	33,818,600	27,078,600
Inventory valuation allowance	(303,300)	(460,000)
Inventories net–current	33,515,300	26,618,600
Inventory, Noncurrent [Member]
Note 2 - INVENTORIES (Details) - Schedule of Inventory [Line Items]
Book inventory	943,700	707,700
Inventory valuation allowance	(364,400)	(271,800)
Inventories net–non-current	$ 579,300	$ 435,900

Note 3 - DEBT (Details)

Note 3 - DEBT (Details) - USD ($)	Mar. 10, 2016	Aug. 31, 2018	Jun. 15, 2018	Feb. 28, 2018
Note 3 - DEBT (Details) [Line Items]
Line of Credit, Current		$ 2,598,700		$ 0
Line of Credit Facility, Remaining Borrowing Capacity		8,867,700		$ 9,424,000
Term Loan #2 [Member] | Line of Credit [Member]
Note 3 - DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 15,000,000
Line of Credit Facility, Expiration Date		Aug. 15, 2019
Debt Instrument, Payment Terms		interest payable monthly
Debt Instrument, Interest Rate Terms		bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio
Line of Credit Facility, Interest Rate at Period End		4.58%
Notes Payable to Banks [Member] | Term Loan #1, Tranche A [Member]
Note 3 - DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 13,400,000
Line of Credit Facility, Expiration Date	Dec. 1, 2025
Notes Payable to Banks [Member] | Term Loan #1, Tranche B [Member]
Note 3 - DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Debt Instrument, Payment Terms	interest is payable monthly
Debt Instrument, Interest Rate Terms	bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio
Line of Credit Facility, Interest Rate at Period End		4.58%
Notes Payable to Banks [Member] | Term Loan #2 [Member]
Note 3 - DEBT (Details) [Line Items]
Debt Instrument, Payment Terms		interest payable monthly
Debt Instrument, Interest Rate Terms		bank adjusted LIBOR Index plus a tiered pricing rate based on the Company’s Adjusted Funded Debt to EBITDA Ratio
Debt Instrument, Face Amount		$ 4,000,000
Debt Instrument, Maturity Date		Jun. 28, 2021
Debt Instrument, Interest Rate During Period		4.58%
Notes Payable to Banks [Member] | Term Loan #1, Tranche C [Member]
Note 3 - DEBT (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 3,000,000
Medium-term Notes [Member] | Term Loan #1, Tranche A [Member]
Note 3 - DEBT (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.23%

Note 3 - DEBT (Details) - Sched

Note 3 - DEBT (Details) - Schedule of Debt - USD ($)	Aug. 31, 2018	Feb. 28, 2018
Schedule of Debt [Abstract]
Line of credit	$ 2,598,700	$ 0
Long-term debt	20,239,100	20,706,300
Less current maturities	(895,500)	(881,200)
Long-term debt, net of current maturities	$ 19,343,600	$ 19,825,100

Note 3 - DEBT (Details) - Sch_2

Note 3 - DEBT (Details) - Schedule of Long-term Debt Instruments	6 Months Ended
	Aug. 31, 2018
Pricing Tier I [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>2.00
Pricing Teir II [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>1.50 but <2.00
Pricing Tier III [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	>1.00 but <1.50
Pricing Tier IV [Member]
Debt Instrument [Line Items]
Adjusted Funded Debt to EBITDA Ratio	<1.00
London Interbank Offered Rate (LIBOR) [Member] | Pricing Tier I [Member]
Debt Instrument [Line Items]
LIBOR Margin	325.00%
London Interbank Offered Rate (LIBOR) [Member] | Pricing Teir II [Member]
Debt Instrument [Line Items]
LIBOR Margin	300.00%
London Interbank Offered Rate (LIBOR) [Member] | Pricing Tier III [Member]
Debt Instrument [Line Items]
LIBOR Margin	275.00%
London Interbank Offered Rate (LIBOR) [Member] | Pricing Tier IV [Member]
Debt Instrument [Line Items]
LIBOR Margin	250.00%

Note 3 - DEBT (Details) - Sch_3

Note 3 - DEBT (Details) - Schedule of Maturities of Long-term Debt - USD ($)	Aug. 31, 2018	Feb. 28, 2018
Schedule of Maturities of Long-term Debt [Abstract]
2,019	$ 434,200
2,020	925,900
2,021	967,700
2,022	1,016,300
2,023	1,064,900
Thereafter	15,830,100
Total	$ 20,239,100	$ 20,706,300

Note 4 - EARNINGS PER SHARE (D

Note 4 - EARNINGS PER SHARE (Details) - Schedule of Earnings Per Share - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Earnings per share:
Net earnings applicable to common shareholders (in Dollars)	$ 1,490,700	$ 1,036,900	$ 3,307,300	$ 2,262,200
Shares:
Weighted average shares outstanding-basic	8,185,419	8,171,296	8,181,305	8,175,791
Assumed exercise of options	7,414	9,962	7,615	8,716
Weighted average shares outstanding-diluted	8,192,833	8,181,258	8,188,920	8,184,507
Diluted earnings per share:
Basic (in Dollars per share)	$ 0.18	$ 0.13	$ 0.40	$ 0.28
Diluted (in Dollars per share)	$ 0.18	$ 0.13	$ 0.40	$ 0.28

Note 5 - STOCK-BASED COMPENSA_3

Note 5 - STOCK-BASED COMPENSATION (Details) - $ / shares	Jul. 24, 2018	Jul. 24, 2017	Aug. 31, 2018
2002 Employee Incentive Stock Option Plan [Member]
Note 5 - STOCK-BASED COMPENSATION (Details) [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options			10,000
2019 Long-Term Incentive Plan [Member]
Note 5 - STOCK-BASED COMPENSATION (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			600,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Stock Issued During Period, Shares, Share-based Compensation, Gross	239,000		80,000
Shares Issued, Price Per Share (in Dollars per share)	$ 9.57		$ 12
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		54 months

Note 5 - STOCK-BASED COMPENSA_4

Note 5 - STOCK-BASED COMPENSATION (Details) - Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Abstract]
Compensation Expense	$ 70,000	$ 0	$ 70,000	$ 0

Note 6 - SHIPPING AND HANDLIN_2

Note 6 - SHIPPING AND HANDLING COSTS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Note 6 - SHIPPING AND HANDLING COSTS (Details) [Line Items]
Cost of Goods and Services Sold	$ 8,462,700	$ 7,650,300	$ 18,132,400	$ 16,249,100
Shipping and Handling [Member]
Note 6 - SHIPPING AND HANDLING COSTS (Details) [Line Items]
Cost of Goods and Services Sold	$ 3,259,900	$ 3,121,500	$ 7,658,900	$ 6,871,200

Note 7 - COMMITMENTS (Details)

Note 7 - COMMITMENTS (Details)	6 Months Ended
	Aug. 31, 2018USD ($)ft²a
Note 7 - COMMITMENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²	181,300
Area of Land (in Acres) | a	40
Lessee, Operating Lease, Term of Contract	15 years
Area of Real Estate Property, as a Percentage of the Facility	45.30%
Operating Lease, Liability	$ 10,159,000
Description of Lessor Leasing Arrangements, Operating Leases	The lessee pays $110,100 per month, through the lease anniversary date of December 2018, with a 2.0% annual increase adjustment on each anniversary date
Operating Leases, Income Statement, Minimum Lease Revenue	$ 110,100
Lessor, Operating Lease, Renewal Term	5 years
Purchase Obligation, Due in Next Twelve Months	$ 13,627,000
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year	$ 421,800
Building [Member]
Note 7 - COMMITMENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²	400,000
Usborne Books and More [Member]
Note 7 - COMMITMENTS (Details) [Line Items]
Purchase Obligation, Due in Next Twelve Months	$ 8,344,000
Kane Miller [Member]
Note 7 - COMMITMENTS (Details) [Line Items]
Purchase Obligation, Due in Next Twelve Months	$ 4,861,200

Note 8 - BUSINESS SEGMENTS (Det

Note 8 - BUSINESS SEGMENTS (Details)	6 Months Ended
	Aug. 31, 2018
Segment Reporting [Abstract]
Number of Reportable Segments	2

Note 8 - BUSINESS SEGMENTS (D_2

Note 8 - BUSINESS SEGMENTS (Details) - Schedule of Information by Industry Segment - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Net Revenues	$ 24,681,000	$ 24,186,900	$ 54,703,300	$ 51,128,100
Earnings (Loss) Before Income Taxes	2,035,600	1,682,700	4,531,400	3,664,900
Publishing [Member]
Segment Reporting Information [Line Items]
Net Revenues	2,605,500	1,977,000	4,911,700	4,099,100
Earnings (Loss) Before Income Taxes	636,700	388,300	1,143,000	957,400
Usborne Books and More [Member]
Segment Reporting Information [Line Items]
Net Revenues	22,075,500	22,209,900	49,791,600	47,029,000
Earnings (Loss) Before Income Taxes	4,277,100	4,570,300	9,376,100	8,949,800
Other Segments [Member]
Segment Reporting Information [Line Items]
Earnings (Loss) Before Income Taxes	$ (2,878,200)	$ (3,275,900)	$ (5,987,700)	$ (6,242,300)

Note 9 - FAIR VALUE MEASUREME_2

Note 9 - FAIR VALUE MEASUREMENTS (Details) - USD ($)	Aug. 31, 2018	Feb. 28, 2018
Note 9 - FAIR VALUE MEASUREMENTS (Details) [Line Items]
Lines of Credit, Fair Value Disclosure	$ 2,598,700
Fair Value, Inputs, Level 2 [Member]
Note 9 - FAIR VALUE MEASUREMENTS (Details) [Line Items]
Lines of Credit, Fair Value Disclosure		$ 0
Long-term Debt, Fair Value	$ 19,492,300	$ 19,454,500

Note 10 - DEFERRED REVENUES (De

Note 10 - DEFERRED REVENUES (Details)	6 Months Ended
	Aug. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Deferred Revenue, Additions	$ 458,200

Note 11 - REVENUE RECOGNITION_2

Note 11 - REVENUE RECOGNITION (Details) - Schedule of New Accounting Pronouncements and Changes in Accounting Principles - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017	Feb. 28, 2018
ASSETS
Accounts receivable—Net	$ 3,161,300		$ 3,161,300		$ 2,913,700
Inventories—Net	33,515,300		33,515,300		26,618,600
Prepaid expenses and other assets	1,294,800		1,294,800		1,259,000
Total current assets	38,804,400		38,804,400		33,514,600
TOTAL ASSETS	67,245,800		67,245,800		61,837,900
LIABILITIES
Other current liabilities	2,369,100		2,369,100		3,517,900
Total liabilities	43,802,700		43,802,700		41,435,800
REVENUES	24,681,000	$ 24,186,900	54,703,300	$ 51,128,100
COST OF GOODS SOLD	8,462,700	7,650,300	18,132,400	16,249,100
Gross margin	16,218,300	16,536,600	36,570,900	34,879,000
OPERATING EXPENSE:
Operating and selling	3,261,600	3,336,300	8,013,800	7,563,100
Sales commissions	7,313,000	7,739,700	16,686,100	16,248,900
General and administrative	3,738,400	3,910,500	7,630,900	7,624,400
Total operating expenses	14,313,000	14,986,500	32,330,800	31,436,400
INTEREST EXPENSE	270,000	294,700	483,400	576,200
OTHER INCOME	(400,300)	(427,300)	(774,700)	(798,500)
EARNINGS BEFORE INCOME TAXES	2,035,600	1,682,700	4,531,400	3,664,900
INCOME TAXES	544,900	645,800	1,224,100	1,402,700
NET EARNINGS	1,490,700	1,036,900	3,307,300	2,262,200
Topic 606 [Member]
ASSETS
Accounts receivable—Net					(99,900)
Inventories—Net					(100)
Prepaid expenses and other assets					(117,000)
Total current assets					(217,000)
TOTAL ASSETS					(217,000)
LIABILITIES
Other current liabilities					(217,000)
Total liabilities					(217,000)
REVENUES		(5,600)		(16,000)
COST OF GOODS SOLD		(990,700)		(2,164,700)
Gross margin		985,100		2,148,700
OPERATING EXPENSE:
Operating and selling		983,900		2,149,500
Sales commissions		0		0
General and administrative		0		0
Total operating expenses		983,900		2,149,500
INTEREST EXPENSE		0		0
OTHER INCOME		1,200		(800)
EARNINGS BEFORE INCOME TAXES		0		0
INCOME TAXES		0		0
NET EARNINGS		0		0
Without Adoption [Member]
ASSETS
Accounts receivable—Net					2,813,800
Inventories—Net					26,618,500
Prepaid expenses and other assets					1,142,000
Total current assets					33,297,600
TOTAL ASSETS					61,620,900
LIABILITIES
Other current liabilities					3,300,900
Total liabilities					$ 41,218,800
REVENUES		24,181,300		51,112,100
COST OF GOODS SOLD		6,659,600		14,084,400
Gross margin		17,521,700		37,027,700
OPERATING EXPENSE:
Operating and selling		4,320,200		9,712,600
Sales commissions		7,739,700		16,248,900
General and administrative		3,910,500		7,624,400
Total operating expenses		15,970,400		33,585,900
INTEREST EXPENSE		294,700		576,200
OTHER INCOME		(426,100)		(799,300)
EARNINGS BEFORE INCOME TAXES		1,682,700		3,664,900
INCOME TAXES		645,800		1,402,700
NET EARNINGS		1,036,900		2,262,200
Gross revenue [Member]
LIABILITIES
REVENUES	33,013,600	30,500,600	72,088,400	65,011,700
Gross revenue [Member] | Topic 606 [Member]
LIABILITIES
REVENUES		(2,579,600)		(5,916,800)
Gross revenue [Member] | Without Adoption [Member]
LIABILITIES
REVENUES		27,921,000		59,094,900
Discounts and Allowances [Member]
LIABILITIES
REVENUES	(10,444,700)	(8,797,300)	(22,346,100)	(19,067,800)
Discounts and Allowances [Member] | Topic 606 [Member]
LIABILITIES
REVENUES		2,574,000		5,900,800
Discounts and Allowances [Member] | Without Adoption [Member]
LIABILITIES
REVENUES		(6,223,300)		(13,167,000)
Transportation Revenue [Member]
LIABILITIES
REVENUES	$ 2,112,100	2,483,600	$ 4,961,000	5,184,200
Transportation Revenue [Member] | Topic 606 [Member]
LIABILITIES
REVENUES		0		0
Transportation Revenue [Member] | Without Adoption [Member]
LIABILITIES
REVENUES		$ 2,483,600		$ 5,184,200

Note 11 - REVENUE RECOGNITION_3

Note 11 - REVENUE RECOGNITION (Details) - Disaggregation of Revenue - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2018	Aug. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 24,681,000	$ 24,186,900	$ 54,703,300	$ 51,128,100
COST OF GOODS SOLD	8,462,700	7,650,300	18,132,400	16,249,100
Gross margin	16,218,300	16,536,600	36,570,900	34,879,000
OPERATING EXPENSE:
Operating and selling	3,261,600	3,336,300	8,013,800	7,563,100
Sales commissions	7,313,000	7,739,700	16,686,100	16,248,900
General and administrative	3,738,400	3,910,500	7,630,900	7,624,400
Total operating expenses	14,313,000	14,986,500	32,330,800	31,436,400
Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		(5,600)		(16,000)
COST OF GOODS SOLD		(990,700)		(2,164,700)
Gross margin		985,100		2,148,700
OPERATING EXPENSE:
Operating and selling		983,900		2,149,500
Sales commissions		0		0
General and administrative		0		0
Total operating expenses		983,900		2,149,500
Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		24,181,300		51,112,100
COST OF GOODS SOLD		6,659,600		14,084,400
Gross margin		17,521,700		37,027,700
OPERATING EXPENSE:
Operating and selling		4,320,200		9,712,600
Sales commissions		7,739,700		16,248,900
General and administrative		3,910,500		7,624,400
Total operating expenses		15,970,400		33,585,900
UBAM [Member]
Disaggregation of Revenue [Line Items]
Revenues		22,209,900		47,029,000
COST OF GOODS SOLD		6,516,300		13,990,000
Gross margin		15,693,600		33,039,000
OPERATING EXPENSE:
Operating and selling		2,578,000		5,743,200
Sales commissions		7,664,100		16,087,800
General and administrative		881,200		2,258,200
Total operating expenses		11,123,300		24,089,200
OPERATING INCOME		4,570,300		8,949,800
UBAM [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		(5,600)		(16,000)
COST OF GOODS SOLD		(990,700)		(2,164,700)
Gross margin		985,100		2,148,700
OPERATING EXPENSE:
Operating and selling		983,800		2,148,700
Sales commissions		0		0
General and administrative		0		0
Total operating expenses		983,800		2,148,700
OPERATING INCOME		1,300		0
UBAM [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		22,204,300		47,013,000
COST OF GOODS SOLD		5,525,600		11,825,300
Gross margin		16,678,700		35,187,700
OPERATING EXPENSE:
Operating and selling		3,561,800		7,891,900
Sales commissions		7,664,100		16,087,800
General and administrative		881,200		2,258,200
Total operating expenses		12,107,100		26,237,900
OPERATING INCOME		4,571,600		8,949,800
Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,605,500	1,977,000	4,911,700	4,099,100
COST OF GOODS SOLD		1,134,000		2,259,100
Gross margin		843,000		1,840,000
OPERATING EXPENSE:
Operating and selling		294,100		539,000
Sales commissions		75,600		161,100
General and administrative		85,000		182,500
Total operating expenses		454,700		882,600
OPERATING INCOME		388,300		957,400
Publishing [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		0
COST OF GOODS SOLD		0		0
Gross margin		0		0
OPERATING EXPENSE:
Operating and selling		0		0
Sales commissions		0		0
General and administrative		0		0
Total operating expenses		0		0
OPERATING INCOME		0		0
Publishing [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		1,977,000		4,099,100
COST OF GOODS SOLD		1,134,000		2,259,100
Gross margin		843,000		1,840,000
OPERATING EXPENSE:
Operating and selling		294,100		539,000
Sales commissions		75,600		161,100
General and administrative		85,000		182,500
Total operating expenses		454,700		882,600
OPERATING INCOME		388,300		957,400
Gross revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	33,013,600	30,500,600	72,088,400	65,011,700
Gross revenue [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		(2,579,600)		(5,916,800)
Gross revenue [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		27,921,000		59,094,900
Gross revenue [Member] | UBAM [Member]
Disaggregation of Revenue [Line Items]
Revenues		26,312,700		56,299,000
Gross revenue [Member] | UBAM [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		(2,579,600)		(5,917,500)
Gross revenue [Member] | UBAM [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		23,733,100		50,381,500
Gross revenue [Member] | Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenues		4,187,900		8,712,700
Gross revenue [Member] | Publishing [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		700
Gross revenue [Member] | Publishing [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		4,187,900		8,713,400
Discounts and Allowances [Member]
Disaggregation of Revenue [Line Items]
Revenues	(10,444,700)	(8,797,300)	(22,346,100)	(19,067,800)
Discounts and Allowances [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		2,574,000		5,900,800
Discounts and Allowances [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		(6,223,300)		(13,167,000)
Discounts and Allowances [Member] | UBAM [Member]
Disaggregation of Revenue [Line Items]
Revenues		(6,577,100)		(14,437,800)
Discounts and Allowances [Member] | UBAM [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		2,574,000		5,901,500
Discounts and Allowances [Member] | UBAM [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		(4,003,100)		(8,536,300)
Discounts and Allowances [Member] | Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenues		(2,220,200)		(4,630,000)
Discounts and Allowances [Member] | Publishing [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		(700)
Discounts and Allowances [Member] | Publishing [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		(2,220,200)		(4,630,700)
Transportation Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 2,112,100	2,483,600	$ 4,961,000	5,184,200
Transportation Revenue [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		0
Transportation Revenue [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		2,483,600		5,184,200
Transportation Revenue [Member] | UBAM [Member]
Disaggregation of Revenue [Line Items]
Revenues		2,474,300		5,167,800
Transportation Revenue [Member] | UBAM [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		0
Transportation Revenue [Member] | UBAM [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		2,474,300		5,167,800
Transportation Revenue [Member] | Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenues		9,300		16,400
Transportation Revenue [Member] | Publishing [Member] | Topic 606 [Member]
Disaggregation of Revenue [Line Items]
Revenues		0		0
Transportation Revenue [Member] | Publishing [Member] | Without Adoption [Member]
Disaggregation of Revenue [Line Items]
Revenues		$ 9,300		$ 16,400

Note 12 - SUBSEQUENT EVENT (Det

Note 12 - SUBSEQUENT EVENT (Details) - USD ($)	1 Months Ended	6 Months Ended
	Sep. 17, 2018	Aug. 31, 2018	Aug. 31, 2017
Note 12 - SUBSEQUENT EVENT (Details) [Line Items]
Payments of Dividends		$ 409,000	$ 0
Subsequent Event [Member]
Note 12 - SUBSEQUENT EVENT (Details) [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.05
Dividends Payable, Date to be Paid	Sep. 26, 2018
Dividends Payable, Date of Record	Sep. 17, 2018
Payments of Dividends	$ 409,100