Educational Development (EDUC) 10-K 21 May 24 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Feb. 29, 2024	May 13, 2024	Aug. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Feb. 29, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	Portions of the Proxy Statement for fiscal year 2024 relating to our Annual Meeting of Shareholders to be held on July 10, 2024 are incorporated by reference into Part III of this Report on Form 10-K.
Entity Information [Line Items]
Entity Registrant Name	EDUCATIONAL DEVELOPMENT CORPORATION
Entity Central Index Key	0000031667
Entity File Number	000-04957
Entity Tax Identification Number	73-0750007
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--02-28
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Public Float			$ 9,519,000
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	5402 South 122nd East Avenue
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74146
Entity Phone Fax Numbers [Line Items]
City Area Code	918
Local Phone Number	622-4522
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $.20 par value
Trading Symbol	EDUC
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		8,575,088

Audit Information

Audit Information	12 Months Ended
	Feb. 29, 2024
Auditor [Table]
Auditor Name	HOGANTAYLOR LLP
Auditor Firm ID	483
Auditor Location	Tulsa, Oklahoma

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Feb. 29, 2024	Feb. 28, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 844,500	$ 689,100
Restricted cash	432,900	0
Accounts receivable, less allowance for credit losses of $129,000 (2024) and $211,700 (2023)	1,936,900	2,906,700
Inventories - net	43,913,200	59,086,500
Prepaid expenses and other assets	630,800	869,300
Assets held for sale	18,281,100	0
Total current assets	66,039,400	63,551,600
INVENTORIES - net	11,677,000	4,719,600
PROPERTY, PLANT AND EQUIPMENT - net	8,939,600	29,656,400
DEFERRED INCOME TAX ASSET	1,406,500	796,800
OPERATING LEASE RIGHT-OF-USE ASSETS	1,614,900	823,600
OTHER ASSETS	427,600	388,800
TOTAL ASSETS	90,105,000	99,936,800
CURRENT LIABILITIES:
Accounts payable	3,910,200	3,863,900
Line of credit	5,498,100	10,634,500
Deferred revenues	583,500	602,700
Operating lease liabilities, current	726,900	347,800
Current maturities of long-term debt	1,800,000	34,894,900
Accrued salaries and commissions	384,400	828,200
Income taxes payable	773,400	0
Other current liabilities	3,338,100	2,946,200
Total current liabilities	17,014,600	54,118,200
LONG-TERM DEBT - net	26,640,700	0
OPERATING LEASE LIABILITIES, non-current	888,000	475,800
OTHER LONG-TERM LIABILITIES	111,000	111,000
Total liabilities	44,654,300	54,705,000
COMMITMENTS AND CONTINGENCIES – See Note 13
SHAREHOLDERS' EQUITY:
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,702,080 shares; Outstanding 8,575,088 (2024) and 8,713,289 (2023) shares	2,540,400	2,540,400
Capital in excess of par value	13,405,400	13,193,400
Retained earnings	42,566,600	42,020,200
Accumulated other comprehensive income	24,400	0
	58,536,800	57,754,000
Less treasury stock, at cost	(13,086,100)	(12,522,200)
Total shareholders' equity	45,450,700	45,231,800
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 90,105,000	$ 99,936,800

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses (in Dollars)	$ 129,000	$ 211,700
Common stock, shares outstanding	8,575,088	8,713,289
Common stock, shares issued	12,702,080	12,702,080
Common stock, authorized shares	16,000,000	16,000,000
Common stock, par value (in Dollars per share)	$ 0.2	$ 0.2

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
NET REVENUES	$ 51,030,300	$ 87,829,000
COST OF GOODS SOLD	18,045,400	31,759,200
Gross margin	32,984,900	56,069,800
OPERATING EXPENSES:
Operating and selling	8,789,200	15,780,600
Sales commissions	16,105,600	25,676,100
General and administrative	13,991,000	17,195,100
Total operating expenses	38,885,800	58,651,800
INTEREST EXPENSE	2,758,900	2,172,300
OTHER INCOME	(9,394,300)	(1,327,400)
EARNINGS BEFORE INCOME TAXES	734,500	(3,426,900)
INCOME TAXES	188,100	(922,000)
NET EARNINGS	$ 546,400	$ (2,504,900)
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE:
Basic (in Dollars per share)	$ 0.07	$ (0.31)
Diluted (in Dollars per share)	$ 0.07	$ (0.31)
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic (in Shares)	8,269,971	8,157,704
Diluted (in Shares)	8,285,230	8,157,704
Dividends per share (in Dollars per share)	$ 0	$ 0
Gross Sales [Member]
REVENUES	$ 75,583,600	$ 122,691,900
Discounts and Allowances [Member]
Less discounts and allowances	(26,929,400)	(41,895,500)
Transportation Revenue [Member]
REVENUES	$ 2,376,100	$ 7,032,600

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 546,400	$ (2,504,900)
Other comprehensive income:
Unrealized gain on interest rate exchange agreement	24,400	0
Comprehensive income (loss)	$ 570,800	$ (2,504,900)

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Feb. 28, 2022	$ 2,540,400	$ 12,246,600	$ 44,525,100	$ (12,546,600)		$ 46,765,500
Balance (in Shares) at Feb. 28, 2022	12,702,080			3,994,833
Sales of treasury stock		39,000		$ 24,400		63,400
Sales of treasury stock (in Shares)				(7,771)
Forfeiture of restricted share awards (in Shares)				29,729
Issuance of restricted share awards for vesting (in Shares)				(28,000)
Change in fair value of interest rate exchange agreement						0
Share-based compensation expense - net		907,800				907,800
Net earnings (loss)			(2,504,900)			(2,504,900)
Balance at Feb. 28, 2023	$ 2,540,400	13,193,400	42,020,200	$ (12,522,200)		45,231,800
Balance (in Shares) at Feb. 28, 2023	12,702,080			3,988,791
Purchases of treasury stock				$ (563,900)		$ (563,900)
Purchases of treasury stock (in Shares)				138,201		138,201
Forfeiture of restricted share awards (in Shares)				35,285
Issuance of restricted share awards for vesting (in Shares)				(35,285)
Change in fair value of interest rate exchange agreement					$ 24,400	$ 24,400
Share-based compensation expense - net		212,000				212,000
Net earnings (loss)			546,400			546,400
Balance at Feb. 29, 2024	$ 2,540,400	$ 13,405,400	$ 42,566,600	$ (13,086,100)	$ 24,400	$ 45,450,700
Balance (in Shares) at Feb. 29, 2024	12,702,080			4,126,992

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings (loss)	$ 546,400	$ (2,504,900)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	2,487,200	2,478,700
Deferred income taxes	(609,700)	(678,100)
Provision for credit losses	33,300	0
Provision for inventory valuation allowance	85,900	715,900
Share-based compensation expense - net	212,000	907,800
Net gain on sale of assets	(4,016,700)	0
Changes in assets and liabilities:
Accounts receivable	936,500	732,100
Inventories - net	8,130,000	9,086,900
Prepaid expenses and other assets	197,100	(233,200)
Accounts payable	46,300	(8,547,900)
Accrued salaries and commissions, and other liabilities	(51,900)	(1,578,000)
Deferred revenues	(19,200)	(78,900)
Income taxes payable/receivable	773,400	(241,900)
Total adjustments	8,204,200	2,563,400
Net cash provided by operating activities	8,750,600	58,500
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(821,800)	(1,578,800)
Proceeds from sale of assets	4,858,900
Purchases of other assets		(177,000)
Net cash provided by (used in) investing activities	4,037,100	(1,755,800)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on term debt	(6,499,100)	(25,900,100)
Payments on debt issuance costs	0	(178,400)
Proceeds from term debt	0	36,000,000
Sales of treasury stock	0	63,400
Cash paid to acquire treasury stock	(563,900)	0
Net payments under line of credit	(5,136,400)	(7,089,000)
Dividends paid	0	(870,700)
Net cash provided by (used in) financing activities	(12,199,400)	2,025,200
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	588,300	327,900
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - BEGINNING OF PERIOD	689,100	361,200
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - END OF PERIOD	1,277,400	689,100
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest	2,805,800	1,986,000
Cash paid for income taxes (net of refunds)	24,400	(3,900)
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES:
Fair value of the interest rate exchange agreement	$ 24,400	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Feb. 29, 2024
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Estimates Reclassifications Liquidity Going Concern Determining the extent to which conditions or events raise substantial doubt about our ability to continue as a going concern and the extent to which mitigating plans sufficiently alleviate any such substantial doubt requires significant judgment and estimation by us. Our significant estimates related to this analysis may include identifying business factors such as completing the planned sale of owned real estate, changes in our Brand Partners, sales growth and profitability used in the forecasted financial results and liquidity. Further, we make assumptions about the probability that management's plans will be effectively implemented and alleviate substantial doubt and our ability to continue as a going concern. We believe that the estimated values used in our going concern analysis are based on reasonable assumptions. However, such assumptions are inherently uncertain and actual results could differ materially from those estimates. The short-term duration of the Revolving Loan and uncertainty of the bank’s ongoing support beyond May 31, 2024, along with recurring operating losses and other items, raise substantial doubt over the Company's ability to continue as a going concern. Management has plans to sell the Hilti Complex and pay off the Term Loans and Revolving Loan. The proceeds from the sale are expected to generate sufficient cashflow to allow the Company to continue operations with limited borrowings. The Company expects these borrowings to be available through local banks or other financing sources. In addition, management’s plans include reducing inventory, which will generate free cashflows, and building the active PaperPie Brand Partners to pre-pandemic levels. Although there is no guarantee these plans will be successful, management believes these plans are probable of being achieved to alleviate the substantial doubt about our ability to continue as a going concern and generate sufficient liquidity to meet our obligations as they become due over the next twelve months. Sales Concentration Cash, Cash Equivalents and Restricted Cash Accounts Receivable 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 made 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. Inventories The Company assumes title and responsibility for inventory purchased according to the contract language with our suppliers and the individual shipment terms for the order. The Company maintains insurance for the value of the inventory once the title has been passed until it is received at our warehouse (“inventory in transit”). Brand Partners that meet certain eligibility requirements may request and receive inventory on consignment. Consignment inventory is stated at the lower of cost or net realizable value, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total cost of inventory on consignment, excluding the estimated reserve, with Brand Partners was $1,388,700 and $1,531,600 at February 29, 2024 and February 28, 2023, respectively. The Company has reserved for consignment inventory not expected to be sold or returned of $379,600 and $488,500 as of February 29, 2024, and February 28, 2023, respectively. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and Brand Partner 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 5 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years Capitalized software 4 – 10 years Molds and tooling 3 – 5 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, including capitalized software. The development of customer and Brand Partner software applications are critical to our ongoing business operations and included in capitalized software. External and internal costs associated with the development of new software applications incurred during the application development stage are capitalized. Training and maintenance costs are expensed as incurred, while upgrades and enhancements are capitalized if it is probable that such expenditures will result in additional functionality. Assets Held for Sale We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset or disposal group until the date of sale. We assess the fair value of a long-lived asset or disposal group less any costs to sell each reporting period it remains classified as held for sale and report any subsequent changes as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale. Upon determining that a long-lived asset or disposal group meets the criteria to be classified as held for sale, the Company ceases depreciation of the asset and reports long-lived assets and/or the assets and liabilities of the disposal group, if material, in the line items assets held for sale and liabilities held for sale, respectively, in our balance sheet. Refer to Note 3. Impairment of Long-Lived Assets Leases Income Taxes Revenue Recognition The majority of PaperPie’s sales contracts have a single performance obligation and are short-term in nature. PaperPie’s sales are generally collected at the time the product is ordered. Sales which have been paid for but not shipped are classified as deferred revenue on the balance sheets. Sales associated with consignment inventory are recognized when reported by the consignee and payment associated with the sale has been collected. Transportation revenue represents the amount billed to the customer for shipping the product and is recorded when the product is shipped. Certain PaperPie sales contracts associated with the hostess award programs include sales incentives, such as discounted products. These incentives provide a separate performance obligation in the contract and material rights 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 the products included as sales incentives are shipped with the associated products ordered, there is no deferral required. Revenues allocated to the material right are recognized in gross sales, discounts and allowances and cost of goods sold in our statements of operations. The majority of Publishing’s sales contracts have a single performance obligation and are short-term in nature. Publishing’s sales may be collected at the time the product is shipped or the customers may be given payment terms based primarily on their credit worthiness and payment history. Estimated allowances for sales returns, which reduce net revenues and cost of goods sold, are recorded as sales are recognized. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for a product damaged in transit and most damaged returns are primarily from retail stores. These returns result from damage that occurs in the stores, not in shipping to the stores. It is industry practice to accept non-damaged returns from retail customers. Management has estimated sales returns of approximately $201,500 for both February 29, 2024 and February 28, 2023, which is included in other current liabilities on the Company’s balance sheets. In addition, management has recorded an asset for the expected value of non-damaged inventories to be returned. The estimated value of returned products of $100,800 is included in other current assets on the Company’s balance sheets for both February 29, 2024 and February 28, 2023. The Company generally expenses sales commissions in the same period that the revenue is recognized. These costs are recorded within operating expenses. The Company does not disclose the value of unsatisfied performance obligations for contracts with an unexpected length of one year or less. Advertising Costs Shipping and Handling Costs Share-Based Compensation Interest Rate Exchange Agreement The Company formally documents all relationships between hedging instruments and hedged items as well as its risk-management objective and strategy for undertaking various hedged transactions. This process includes linking all cash-flow hedges to specific assets and liabilities on the balance sheet or forecasted transactions. The Company also formally assesses, both at the hedge's inception and on an ongoing basis, whether they are highly effective in offsetting changes in cash flows of hedged items. When it is determined that the swap agreement is not highly effective or that it has ceased to be highly effective, the Company discontinues hedge accounting prospectively as discussed below. The Company discontinues hedge accounting prospectively when (a) it is determined that the swap agreement is no longer effective in offsetting changes in the cash flows of a hedged item (including forecasted transactions); (b) the swap agreement expires or is sold, terminated or exercised; (c) the swap agreement is de-designated as a hedge instrument because it is unlikely that a forecasted transaction will occur; or (d) management determines that designation as a hedge instrument is no longer appropriate. When hedge accounting is discontinued because it is probable that a forecasted transaction will not occur, the swap agreement will continue to be carried on the balance sheet at its fair value, and gains and losses that were accumulated in other comprehensive income or loss will be recognized immediately in earnings. In all other situations in which hedge accounting is discontinued, the swap agreement will be carried at its fair value on the balance sheet with subsequent changes in its fair value recognized in the current period’s earnings. 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 29 (28), 2024 2023 Earnings (loss) per share: Net earnings (loss) applicable to common shareholders $ 546,400 $ (2,504,900 ) Shares: Weighted average shares outstanding-basic 8,269,971 8,157,704 Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards 15,259 - Weighted average shares outstanding-diluted 8,285,230 8,157,704 Diluted earnings (loss) per share: Basic $ 0.07 $ (0.31 ) Diluted $ 0.07 $ (0.31 ) As shown in the table below, the following shares have not been included in the calculation of diluted earnings (loss) per share as they would be anti-dilutive to the calculation above. Year Ended February 29 (28), 2024 2023 Weighted average shares: Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards - 222,395 New Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

CASH

CASH	12 Months Ended
	Feb. 29, 2024
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	2. CASH The below table reconciles cash, cash equivalents and restricted cash as reported in the balance sheets to the total of the same amounts shown in the statements of cash flows: February 29, 2024 February 28, 2023 Cash and cash equivalents $ 844,500 $ 689,100 Restricted cash 432,900 - Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 1,277,400 $ 689,100 The Company has historically contracted with Braintree Payment Services and PayPal, Inc. (together “PayPal”) and most recently Nexio, third-party merchant service processors, to capture PayPal, Visa, Discover and Mastercard payments from customers. Approximately 90% of all payments received by the Company have been channeled through these processors. During the second quarter of fiscal 2024, PayPal, under the terms of our agreements, began to hold cash payments received from customers in reserve to offset any potential chargebacks. During the third quarter of fiscal 2024, the Company switched most merchant services for Visa, Discover and Mastercard from Braintree to Nexio, which required a shorter hold period. This switch allowed a portion of the reserves to be released prior to November 30, 2023. The Company has classified the remaining cash held in reserves by PayPal and Nexio as restricted cash.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	12 Months Ended
	Feb. 29, 2024
Assets Held For Sale Abstract
Assets Held For Sale [TextBlock]	3. ASSETS HELD FOR SALE During fiscal 2024, the Company executed the Third Amendment to the existing Credit Agreement with BOKF, NA. This amendment required the Company to list its real estate property located at 10302 East 55 th Also, during fiscal 2024, the Company listed its real estate property located at 5402 S. 122nd E. Ave, Tulsa, Oklahoma 74146 for sale. This property, consisting of approximately 402,000 square feet of office and warehouse space on 35-acres (the “Hilti Complex”), along with 17-acres of adjacent undeveloped land, was appraised in July, 2023 with a market value of $41,970,000. The Company ceased recording depreciation on the assets upon meeting the held for sale criteria at the end of the third quarter of fiscal 2024. The Company records assets held for sale at the lower of their carrying value or fair value less costs to sell. As of February 29, 2024, the total carrying value of assets held for sale was $18,281,100 and is separately recorded on the balance sheets.

INVENTORIES

INVENTORIES	12 Months Ended
	Feb. 29, 2024
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	4. INVENTORIES Inventories consist of the following: February 29 (28), 2024 2023 Current: Product inventory $ 44,303,000 $ 59,577,400 Inventory valuation allowance (389,800 ) (490,900 ) Inventories net - current $ 43,913,200 $ 59,086,500 Noncurrent: Product inventory $ 12,269,200 $ 5,135,200 Inventory valuation allowance (592,200 ) (415,600 ) Inventories net - noncurrent $ 11,677,000 $ 4,719,600 Inventory in transit totaled $264,000 and $850,100 at February 29, 2024 and February 28, 2023, respectively. Product inventory quantities in excess of what we expect will be sold within the normal operating cycle, based on 2 ½ years of anticipated sales, are included in noncurrent inventory.

BUSINESS CONCENTRATION

BUSINESS CONCENTRATION	12 Months Ended
	Feb. 29, 2024
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	5. BUSINESS CONCENTRATION Significant portions of our inventory purchases are concentrated with an England-based publishing company, Usborne Publishing Limited (“Usborne”). During fiscal 2023, we entered into a new distribution agreement (“Agreement”) with Usborne. The Agreement includes annual minimum purchase volumes along with specific payment terms and letter of credit requirements, which if not met offer Usborne the right to terminate the Agreement on less than 30 days’ written notice. Should termination of the Agreement occur, the Company will be allowed to sell its remaining Usborne inventory for an agreed upon period, but not less than twelve months following the termination date. As of February 28, 2024, the Company did not meet the minimum purchase requirements and did not supply the letter of credit required under the Agreement, which allows Usborne the right to exercise their option to terminate the Agreement. Usborne has not notified the Company of termination of the Agreement. Usborne has refused to pay the $1.0 million volume rebate owed to the Company from purchases made during fiscal 2022. The Company is disputing the cancellation of the rebate but has not recognized any rebate in fiscal 2023 or fiscal 2024 due to its uncertainty. Additionally, under the terms in the Agreement, the Company no longer has the rights to distribute Usborne’s products to retail customers. The Company discontinued selling Usborne products to retail customers in the first quarter of fiscal 2024. Gross sales attributed to Usborne’s products sold within the Publishing division accounted for 24.2%, or $2,740,000, during the fiscal year ended February 29, 2024, and 83.1%, or $23,220,600, during the fiscal year ended February 28, 2023. Purchases received from Usborne were approximately $2,052,300 and $11,448,500 for the years ended February 29, 2024 and February 28, 2023, respectively. Total inventory purchases for those same periods were approximately $9,241,100 and $20,377,600, respectively. Included in our balance sheets, outstanding accounts payable due to Usborne as of February 29, 2024 and February 28, 2023 were $1,006,000 and $117,600, respectively. Total Usborne inventory owned by the Company and included in our balance sheets were $29,010,200 and $35,363,500 as of February 29, 2024 and February 28, 2023, respectively.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Feb. 29, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: February 29 (28), 2024 2023 Land $ - $ 4,107,200 Building - 20,424,900 Building improvements - 2,274,200 Machinery and equipment 14,156,400 14,234,900 Furniture and fixtures 124,000 121,700 Capitalized software 2,964,200 1,236,300 Molds and tooling 733,200 704,000 Capitalized software - in progress 313,500 1,265,000 Total property, plant and equipment 18,291,300 44,368,200 Less accumulated depreciation (9,351,700 ) (14,711,800 ) Property, plant and equipment-net $ 8,939,600 $ 29,656,400 During fiscal year 2023, the Company purchased the SmartLab Toys product line. During the fourth quarter of fiscal 2024, the Company implemented its new proprietary e-commerce platform resulting in the reclassification of the development costs in progress to capitalized software.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Feb. 29, 2024
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Liabilities Disclosure [Text Block]	7. OTHER CURRENT LIABILITIES Other current liabilities consist of the following: February 29 (28), 2024 2023 Accrued royalties $ 324,700 $ 504,400 Accrued PaperPie incentives 1,393,000 1,189,900 Accrued freight 90,800 120,300 Sales tax payable 265,500 394,800 Allowance for expected inventory returns 201,500 201,500 Other 1,062,600 535,300 Total other current liabilities $ 3,338,100 $ 2,946,200

OTHER INCOME

OTHER INCOME	12 Months Ended
	Feb. 29, 2024
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	8. OTHER INCOME A summary of other income is show below: February 29 (28), 2024 2023 Federal tax credits realized $ 3,808,700 $ - Gain from sale of assets 4,016,700 - Rental income 1,544,000 1,565,000 Other income (loss) 24,900 (237,600 ) Total other income $ 9,394,300 $ 1,327,400

INCOME TAXES

INCOME TAXES	12 Months Ended
	Feb. 29, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	9. 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 are as follows: February 29 (28), 2024 2023 Deferred tax assets: Allowance for credit losses $ 34,800 $ 57,200 Inventory overhead capitalization 112,800 170,100 Inventory valuation allowance 102,500 132,500 Inventory valuation allowance – noncurrent 159,900 112,200 Allowance for sales returns 27,200 27,200 Research and development capitalization 418,900 291,600 Net operating loss carryforward (1) 572,600 830,900 Disallowed interest 1,236,600 Accruals 343,800 1,069,100 Total deferred tax assets 3,009,100 2,690,800 Deferred tax liabilities: Property, plant, and equipment (1,602,600 ) (1,894,000 ) Total deferred tax liabilities (1,602,600 ) (1,894,000 ) Net deferred income tax assets $ 1,406,500 $ 796,800 (1) The Company’s net operating loss (“NOL”) carryforward was generated from losses incurred in fiscal 2023. The Company’s NOL can be carried forward indefinitely, but are limited to a 80% maximum offset of taxable income. Authoritative guidance requires a valuation allowance to be established when determining whether deferred tax assets are more likely-than-not to be realized. Based on the Company’s evaluation, we determined the net deferred tax assets meet the requirements to be realized, and as such, no valuation allowance has been established. The components of income tax expense (benefit) are as follows: February 29 (28), 2024 2023 Current: Federal (1) $ - $ - State (1) - - - - Deferred: Federal 154,200 (719,700 ) State 33,900 (202,300 ) 188,100 (922,000 ) Total income tax expense (benefit) $ 188,100 $ (922,000 ) (1) The Company incurred losses in fiscal 2023, resulting in a net operating loss carryforward and reclassification from current to deferred. The following reconciles our expected income tax rate to the U.S. federal statutory income tax rate: February 29 (28), 2024 2023 U.S. federal statutory income tax rate 21.0 % 21.0 % U.S. state and local income taxes–net of federal benefit 3.7 % 5.7 % Other 0.9 % 0.2 % Total income tax expense 25.6 % 26.9 % We file our tax returns in the U.S. and certain state jurisdictions in which we have nexus. We are no longer subject to income tax examinations by tax authorities for the fiscal years before 2020. 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 statements of operations.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Feb. 29, 2024
Retirement Benefits [Abstract]
Retirement Benefits [Text Block]	10. EMPLOYEE BENEFIT PLAN The Company has created the Educational Development Corporation Employee 401(k) Plan (“EDC 401(k) Plan”) as a benefit plan for employees offering retirement investment options as well as profit sharing with its employees, in the form of matching contributions. The EDC 401(k) Plan includes, as an investment option, the ability to purchase shares of the Company’s stock which the Plan Administrator acquires directly from NASDAQ. This plan incorporates the provisions of Section 401(k) of the Internal Revenue Code that allow favorable tax treatments on investments. The EDC 401(k) Plan is available to all employees that meet specific age and length of service requirements. The Company’s matching contributions are discretionary and approved annually at a meeting of the EDC 401(k) Plan’s Trustees and Company’s management. Matching contributions made to the Plan by the Company totaled $151,700 and $160,800 during the years ended February 29, 2024 and February 28, 2023, respectively.

LEASES

LEASES	12 Months Ended
	Feb. 29, 2024
Disclosure Text Block [Abstract]
Lessor, Operating Leases [Text Block]	11. LEASES We have both lessee and lessor arrangements. Our lessee arrangements include four rental agreements where we have the exclusive use of dedicated office space in San Diego, California, warehouse and office space in Layton, Utah, and two leases for warehouse space locally in Tulsa, OK, all of which qualify as an operating lease. Our lessor arrangements include one rental agreement for warehouse and office space in Tulsa, Oklahoma, and qualifies as an operating lease under ASC 842. Operating Leases Lessee We recognize a lease liability, reported in other liabilities on the balance sheets, for each lease based on the present value of remaining minimum fixed rental payments (which includes payments under any renewal option that we are reasonably certain to exercise), using a discount rate that approximates the rate of interest we would have to pay to borrow on a collateralized basis over a similar term. Expected payments in the next twelve months are classified as current lease liabilities. Payments in excess of twelve months are classified as long-term lease liabilities. We also recognize a right-of-use asset, reported in other assets on the balance sheets, for each lease, valued at the lease liability and adjusted for prepaid or accrued rent balances existing at the time of initial recognition. The lease liability and right-of-use assets are reduced over the term of the lease as payments are made and the assets are used. February 29 (28), 2024 2023 Operating lease assets: Right-of-use assets $ 1,614,900 $ 823,600 Operating lease liabilities: Current lease liabilities $ 726,900 $ 347,800 Long-term lease liabilities $ 888,000 $ 475,800 Weighted-average remaining lease term (months) 25.8 36.3 Weighted-average discount rate 4.34 % 4.01 % Minimum fixed rental payments are recognized on a straight-line basis over the life of the lease as costs and expensed in our statements of operations. Variable and short-term rental payments are recognized as costs and expenses as they are incurred. February 29 (28), 2024 2023 Fixed lease costs $ 563,900 $ 154,400 Future minimum rental payments under operating leases with initial terms greater than one year as of February 29, 2024, are as follows: Years ending February 29 (28), 2025 $ 735,800 2026 600,200 2027 397,300 Total future minimum rental payments 1,733,300 Less: imputed interest (118,400 ) Total operating lease liabilities $ 1,614,900 The following table provides further information about our operating leases reported in our financial statements: February 29 (28), 2024 2023 Operating cash flows – operating leases $ 563,900 $ 154,400 Operating Leases Lessor In connection with the 2015 purchase of our 400,000 square-foot facility on 50 acres (the “Hilti Complex”), 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 lessee pays $123,900 per month, through the lease anniversary date of December 2024 with a 2.0% annual increase adjustment on each anniversary date thereafter. The lease terms allow for one five Future minimum payments receivable under operating leases with terms greater than one year are estimated as follows: Years ending February 29 (28), 2025 $ 1,547,100 2026 1,524,300 2027 1,554,800 2028 1,585,900 2029 1,617,600 Thereafter 3,332,900 Total $ 11,162,600 The cost of the leased space was approximately $10,159,500 as of February 29, 2024, and $10,637,900 as of February 28, 2023, respectively. The accumulated depreciation associated with the leased assets was $2,776,400 and $2,853,200 as of February 29, 2024, and February 28, 2023, respectively. During the third quarter of fiscal 2024, the Company announced its plans to sell the Hilti Complex and reclassified the land and buildings from property, plant and equipment to assets held for sale. The leased space was included in this reclassification.

DEBT

DEBT	12 Months Ended
	Feb. 29, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	12. DEBT Debt consists of the following: February 29 (28), 2024 2023 Line of credit $ 5,498,100 $ 10,634,500 Floating rate term loan $ 17,300,000 $ 20,475,000 Fixed rate term loan 11,300,900 14,625,000 Total term debt 28,600,900 35,100,000 Less current portion (1,800,000 ) (34,894,900 ) Less debt issue cost (160,200 ) (205,100 ) Long-term debt, net $ 26,640,700 $ - On August 9, 2022, the Company repaid in full all outstanding indebtedness and terminated all commitments and obligations under its Amended and Restated Loan Agreement dated February 15, 2021 (as amended), between the Company and MidFirst Bank and executed a new Credit Agreement (“Loan Agreement”) with BOKF, NA (“Bank of Oklahoma” or the “Lender”). The Loan Agreement established a fixed rate term loan in the principal amount of $15,000,000 (the “Fixed Rate Term Loan”), a floating rate term loan in the principal amount of $21,000,000 (the “Floating Rate Term Loan”; together with the Fixed Rate Term Loan, collectively, the “Term Loans”), and a revolving promissory note in the principal amount up to $15,000,000 (the “Revolving Loan” or “Line of Credit”). On December 22, 2022, the Company executed the First Amendment to our Loan Agreement with the Lender. This amendment clarified the definition of the Fixed Charge Coverage Ratio to exclude dividends paid prior to November 30, 2022, and placed restrictions on acquisitions and cash dividends. On May 10, 2023, the Company executed the Second Amendment to our Loan Agreement with the Lender. This amendment waived the fixed charge ratio default which occurred on February 28, 2023 and amended the financial covenant to not require the fixed charge ratio to be measured at May 31, 2023. The Second Amendment also added a cumulative maximum level of fiscal year to date inventory purchases through the expiration of the Revolving Loan Agreement, increased the borrowing rate on the Company’s Revolving Loan to Term SOFR Rate plus 3.5%, required certain swap agreement be executed within 30 days of the amendment, reduced the revolving commitment from $15,000,000 to $14,000,000, effective May 10, 2023, and further reduced the revolving commitment to $13,500,000, effective July 15, 2023, among other items. On June 6, 2023, pursuant to its interest rate risk and risk management strategy, the Company entered into a swap transaction (the “Swap Transaction”) with the Lender, which converts a portion of the original $21,000,000 Floating Rate Term Loan from a floating interest rate to a fixed interest rate for the next two years. The Swap Transaction has a notional amount of $18,000,000 through fiscal quarter ending May 31, 2024, and then resets to $13,000,000 through May 30, 2025, while continuing to mirror the amortizing balance of the Floating Rate Term Loan. Under the terms of this agreement, the Company, in effect, has exchanged the floating interest rate of 30-Day Term SOFR Rate at the trade date of June 5, 2023, to a fixed rate of 4.73%. The Swap Transaction commenced on June 7, 2023, with a termination date of May 30, 2025. On August 9, 2023, the Company executed the Third Amendment along with a Revised Credit Agreement (“Revised Loan Agreement”) with the Lender. This amendment extended the Revolving Loan maturity date to January 31, 2024 and introduced a stepdown to the Revolving Commitment from $13,500,000, through August 30, 2023; to $10,500,000 through October 30, 2023; to $9,000,000 through November 29, 2023; to $5,000,000 through December 30, 2023; to $4,500,000 through January 30, 2024; and to $4,000,000 on January 31, 2024. The amendment restricted the Company from entering into any new purchase orders and uses its best efforts to cancel existing purchase orders. It also required the Company to list its real estate property located at 10302 East 55th Place, Tulsa, Oklahoma, for sale with a licensed commercial real estate broker satisfactory to the Lender on or before August 18, 2023, among other items. Contingent upon the occurrence of an Event of Default in the agreement, the Company shall within 15 days list the Hilti Complex with a licensed commercial real estate broker satisfactory to the Lender. The Third Amendment also increased the borrowing rate on the Revolving Loan to 30-Day Term SOFR Rate + 4.50%, or 9.82% at February 29, 2024. The Revised Loan Agreement was updated for the changes in the Third Amendment as well as removed the fixed charge ratio and the ability for borrowings to be accelerated before the January 31, 2024 Revolving Loan maturity date. Prior to the Third Amendment, executed on August 9, 2023, the Loan Agreement contained provisions that required the Company to maintain a minimum fixed charge ratio. The Company was in violation of the minimum fixed charge ratio covenant as of February 28, 2023, for which the Company obtained a written waiver of compliance from the Lender and was not required to measure the fixed charge ratio as of May 31, 2023. Concurrent with the execution of the Third Amendment to the Loan Agreement, the Loan Agreement was modified to incorporate the changes outlined in the Third Amendment and the fixed charge ratio covenant was removed, as well as the Lender’s right to accelerate the maturities of the Fixed Rate Term Loan and Floating Rate Term Loan due to the fixed charge ratio covenant. On November 30, 2023, the Company executed the Fourth Amendment to the Credit Agreement (“Amendment”) with the Lender. The Amendment, effective December 1, 2023, increased the Revolving Loan commitment to $8,000,000 and extended the maturity date to May 31, 2024. The Amendment also required the Company to list the Hilti Complex for sale, allowed the Company to execute additional purchase orders, subject to the lender’s approval and conditions, not to exceed $2,100,000 between December 1, 2023 and March 31, 2024, among other items. Proceeds from the sale of the property are to be used to pay down the borrowings with the Lender. A third-party appraisal was completed on the Hilti Complex, consisting of the 400,000 square feet building complex on approximately 50 acres, along with approximately 15 acres of adjacent unused land, in July of 2023 with a market value of $41,970,000. Available credit under the current $8,000,000 revolving line of credit with the Company’s Lender was approximately $2,501,900 at February 29, 2024. Features of the Revised Loan Agreement include: (i) Two Term Loans on 20-year amortization with 5-year maturity date of August 9, 2027 (ii) $15 Million Fixed Rate Term Loan bears interest at a fixed rate per annum equal to 4.26% (iii) $21 Million Floating Rate Term Loan bears interest at a rate per annum equal to Term SOFR Rate + 1.75% (iv) $8 Million Revolving Loan with maturity date of May 31, 2024. The Revolving Loan bears interest at a rate per annum equal to Term SOFR Rate + 4.50% (effective rate was 9.82% at February 29, 2024) (v) Revolving Loan allows for Letters of Credit up to $7,500,000 upon bank approval (none were outstanding at February 29, 2024) The following table reflects aggregate current maturities of term debt, excluding the Revolving Loan, during the next fiscal year as follows: Years ending February 28 (29), 2025 $ 1,800,000 2026 1,800,000 2027 1,800,000 2028 23,200,900 Total $ 28,600,900

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Feb. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	13. COMMITMENTS AND CONTINGENCIES As of February 29, 2024, the Company had outstanding purchase commitments for inventory totaling $1,424,800 with Kane Miller and SmartLab Toys suppliers, which will be received and payments due during fiscal year 2025.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Feb. 29, 2024
Share-Based Payment Arrangement, Disclosure [Abstract]
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]	14. SHARE-BASED COMPENSATION We account for share-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 probability of restricted share awards granted with future performance conditions is evaluated at each reporting period and share awards are updated and compensation expense is adjusted based on updated information. In July 2018, our shareholders approved the Company’s 2019 Long-Term Incentive Plan (“2019 LTI Plan”). The 2019 LTI Plan established up to 600,000 shares of restricted stock available to be granted to certain members of management based on exceeding specified net revenues and pre-tax performance metrics during fiscal years 2019, 2020 or 2021. The Company exceeded all defined metrics during these fiscal years and 600,000 shares were granted to members of management according to the Plan. The granted shares under the 2019 LTI Plan “cliff vest” after five years from the fiscal year that the defined metrics were exceeded. In July 2021, our shareholders approved the Company’s 2022 Long-Term Incentive Plan (“2022 LTI Plan”). The 2022 LTI Plan establishes up to 300,000 shares of restricted stock available to be granted to certain members of management based on exceeding specified net revenues and pre-tax performance metrics during fiscal years 2022 and 2023. The number of restricted shares to be distributed depends on attaining the performance metrics defined by the 2022 LTI Plan and may result in the distribution of a number of shares that is less than, but not greater than, the number of restricted shares outlined in the terms of the 2022 LTI Plan. Restricted shares granted under the 2022 LTI Plan “cliff vest” after five years from the fiscal year that the defined metrics were exceeded. During fiscal year 2019, the Company granted 308,000 restricted shares under the 2019 LTI Plan with an average grant-date fair value of $9.94 per share. In fiscal year 2021, 5,000 restricted shares were forfeited and later regranted to other participants. During fiscal year 2023, 10,000 restricted shares were forfeited, along with 969 additional shares purchased with dividends received from the original issue date. The 10,000 forfeited shares were re-granted to participants during the fiscal 2023 third quarter with an average grant-date fair value of $2.08. The 969 shares purchased with dividends were not reissued. The 303,000 outstanding shares were vested on February 28, 2023. During fiscal year 2021, the Company granted 297,000 restricted shares under the 2019 LTI Plan with an average grant-date fair value of $6.30 per share. During fiscal year 2023, 18,000 restricted shares were forfeited, along with 760 additional shares purchased with dividends received from the original issue date. The 18,000 forfeited shares were re-granted to participants during fiscal 2023 with an average grant-date fair value of $2.08. The 760 shares purchased with dividends were not reissued. During fiscal year 2024, 35,285 restricted shares were forfeited and regranted to participants with an average grant-date fair value of $1.84. The remaining compensation expense of these awards, totaling approximately $403,600 as of February 29, 2024, will be recognized ratably over the remaining vesting period of 12 months. As of February 29, 2024, no shares were granted under the 2022 LTI Plan. A summary of compensation expense recognized in connection with restricted share awards as follows: Year Ended February 29 (28), 2024 2023 Share-based compensation expense - net of forfeitures $ 212,000 $ 907,800 The following table summarizes stock award activity during fiscal year 2024 under the 2019 LTI Plan: Shares Weighted Average Fair Value (per share) Outstanding at February 28, 2023 297,000 $ 6.04 Granted 35,285 1.84 Vested - - Forfeited (35,285 ) 6.20 Outstanding at February 29, 2024 297,000 $ 5.53

STOCK REPURCHASE PLAN

STOCK REPURCHASE PLAN	12 Months Ended
	Feb. 29, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement [Text Block]	15. STOCK REPURCHASE PLAN In April 2008, the Board of Directors authorized us to repurchase up to an additional 1,000,000 shares of our common stock under the plan initiated in 1998 (“amended 2008 plan”). On February 4, 2019, the Board of Directors replaced the amended 2008 plan with a new plan which authorized us to repurchase up to 800,000 shares of outstanding common stock in the open market or in privately negotiated transactions, and to utilize any derivative or similar instrument to effect share repurchase transactions (including without limitation, accelerated share repurchase contracts, equity forward transactions, equity swap transactions, floor transactions or other similar transactions or any combination of the foregoing transactions). This plan has no expiration date. During fiscal year 2024, there was a repurchase of treasury stock for 138,201 shares for an average purchase price of $4.08 per share, which amounted to $563,900. After the repurchase, the maximum number of shares that may be repurchased in the future is 376,393.

QUARTERLY RESULTS OF OPERATIONS

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Feb. 29, 2024
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	16. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of the quarterly results of operations for the years ended February 29, 2024 and February 28, 2023: Net Revenues Gross Margin Net Earnings (Loss) Basic Earnings (Loss) Per Share Diluted Earnings (Loss) Per Share 2024 First quarter $ 14,524,000 $ 9,373,600 $ (872,800 ) $ (0.11 ) $ (0.11 ) Second quarter 10,593,100 6,908,800 1,061,700 0.13 0.13 Third quarter 16,944,800 11,142,400 1,972,100 0.24 0.24 Fourth quarter 8,968,400 5,560,100 (1,614,600 ) (0.19 ) (0.19 ) Total year $ 51,030,300 $ 32,984,900 $ 546,400 $ 0.07 $ 0.07 2023 First quarter $ 23,160,900 $ 15,309,400 $ 215,800 $ 0.03 $ 0.03 Second quarter 19,418,300 12,478,600 (801,900 ) (0.10 ) (0.10 ) Third quarter 30,269,400 19,228,000 900 0.00 0.00 Fourth quarter 14,980,400 9,053,800 (1,919,700 ) (0.24 ) (0.24 ) Total year $ 87,829,000 $ 56,069,800 $ (2,504,900 ) $ (0.31 ) $ (0.31 )

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Feb. 29, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	17. BUSINESS SEGMENTS We have two reportable segments: PaperPie 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 PaperPie segment markets its products through a network of independent Brand Partners using a combination of internet sales, direct sales, home shows and book fairs. Our Publishing segment markets its products to retail accounts, which include book, school supply, toy and gift stores, museums, trade and specialty wholesalers, through commissioned sales representatives and our internal tele-sales group. See Note 5 for the impact of our updated Usborne distribution agreement on the Publishing segment. The accounting policies for the segments are the same as those for the rest of the Company. We evaluate segment performance based on earnings before income taxes of the segments, which is defined as segment net revenues 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, warehouse operations and building facilities management. Our assets and liabilities are not allocated on a segment basis. Information by industry segment for the years ended February 29, 2024 and February 28, 2023 is set forth below: NET REVENUES 2024 2023 Publishing $ 5,405,100 $ 13,282,300 PaperPie 45,625,200 74,546,700 Total $ 51,030,300 $ 87,829,000 EARNINGS (LOSS) BEFORE INCOME TAXES 2024 2023 Publishing $ 1,223,300 $ 3,186,800 PaperPie 4,129,200 9,170,600 Other (4,618,000 ) (15,784,300 ) Total $ 734,500 $ (3,426,900 )

INTEREST RATE SWAP AGREEMENT

INTEREST RATE SWAP AGREEMENT	12 Months Ended
	Feb. 29, 2024
Disclosure Text Block [Abstract]
Derivatives and Fair Value [Text Block]	18. INTEREST RATE EXCHANGE AGREEMENT The Company maintains an interest-rate risk-management strategy that uses interest-rate swap instruments to minimize significant, unanticipated earnings fluctuations caused by interest-rate volatility. The Company's specific goal is to lower the cost of its borrowed funds, when possible. On June 5, 2023, the Company entered into a receive-variable (based on 30-Day SOFR)/pay-fixed interest-rate swap agreement related to $18,000,000 of our $21,000,000 Floating Rate Term Loan. This swap is utilized to manage interest-rate exposure over the period of the interest-rate swap and is designated as a highly effective cash-flow hedge. The differential to be paid or received on the swap agreement is accrued as interest rates change and is recognized in interest expense over the life of the agreement. The swap agreement offsets a corresponding portion of the amortizing $21,000,000 Floating Rate Term Loan, expires on May 30, 2025, and has effectively fixed the interest rate on the offsetting, outstanding balance of the $21,000,000 Floating Rate Term Loan at 6.48%. The notional amount of the swap and the offsetting, outstanding portion of the term loan were $17,300,000 on February 29, 2024. The interest-rate swap contains no credit-risk–related contingent features and is cross-collateralized by all assets of the Company. The effective portion of the unrealized gain or loss on this interest-rate swap is reported as a component of other comprehensive income (“OCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the interest rate swap representing amounts excluded from the assessment of hedge effectiveness are recognized in current earnings. The fair value of the interest rate swap is included in the following caption on the balance sheets as follows: February 29, 2024 February 28, 2023 Prepaid expenses and other assets $ 24,400 $ -

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Feb. 29, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	19. FINANCIAL INSTRUMENTS The following methods and assumptions are used in estimating the fair-value disclosures for financial instruments: - The carrying amounts reported in the balance sheets for cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments. - The estimated fair value of our assets held for sale was $40,019,200 as of February 29, 2024. The Company did not have any assets held for sale as of February 28, 2023. Management's estimates are based on the appraised market value and listing price of the Hilti Complex and land, less the estimated costs to sell. - The estimated fair value of our term notes payable is estimated by management to approximate $28,152,800 and $34,253,500 as of February 29, 2024, and February 28, 2023, respectively. Management's estimates are based on the obligations' characteristics, including floating interest rate, maturity, and collateral. - The fair value of the Company’s interest rate swap of $24,400 is based on Level 2 inputs, including the present value of estimated future cash flows based on market expectations of the yield curve on variable interest rates.

DEFERRED REVENUES

DEFERRED REVENUES	12 Months Ended
	Feb. 29, 2024
Insurance [Abstract]
Deferred Revenue Disclosure [Text Block]	20. DEFERRED REVENUES The Company’s PaperPie division receives payments on orders in advance of shipment. Any payments received prior to our fiscal year end that were not shipped as of February 29, 2024 and February 28, 2023 are recorded as deferred revenues on the balance sheets. We received approximately $583,500 and $602,700 as of February 29, 2024 and February 28, 2023, respectively, in payments for sales orders which were, or will be, shipped out subsequent to the fiscal year end.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Feb. 29, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	21. SUBSEQUENT EVENTS The Company pays personal property taxes to Tulsa County (“County”) for equipment as well as inventory on hand at December 31 st

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,614,600)	$ 1,972,100	$ 1,061,700	$ (872,800)	$ (1,919,700)	$ 900	$ (801,900)	$ 215,800	$ 546,400	$ (2,504,900)

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Feb. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Feb. 29, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Nature of Business
Use of Estimates, Policy [Policy Text Block]	Estimates
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications
Liquidity, Policy [Policy Text Block]	Liquidity Going Concern Determining the extent to which conditions or events raise substantial doubt about our ability to continue as a going concern and the extent to which mitigating plans sufficiently alleviate any such substantial doubt requires significant judgment and estimation by us. Our significant estimates related to this analysis may include identifying business factors such as completing the planned sale of owned real estate, changes in our Brand Partners, sales growth and profitability used in the forecasted financial results and liquidity. Further, we make assumptions about the probability that management's plans will be effectively implemented and alleviate substantial doubt and our ability to continue as a going concern. We believe that the estimated values used in our going concern analysis are based on reasonable assumptions. However, such assumptions are inherently uncertain and actual results could differ materially from those estimates. The short-term duration of the Revolving Loan and uncertainty of the bank’s ongoing support beyond May 31, 2024, along with recurring operating losses and other items, raise substantial doubt over the Company's ability to continue as a going concern. Management has plans to sell the Hilti Complex and pay off the Term Loans and Revolving Loan. The proceeds from the sale are expected to generate sufficient cashflow to allow the Company to continue operations with limited borrowings. The Company expects these borrowings to be available through local banks or other financing sources. In addition, management’s plans include reducing inventory, which will generate free cashflows, and building the active PaperPie Brand Partners to pre-pandemic levels. Although there is no guarantee these plans will be successful, management believes these plans are probable of being achieved to alleviate the substantial doubt about our ability to continue as a going concern and generate sufficient liquidity to meet our obligations as they become due over the next twelve months.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Sales Concentration
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash
Receivable [Policy Text Block]	Accounts Receivable 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 made 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.
Inventory, Policy [Policy Text Block]	Inventories The Company assumes title and responsibility for inventory purchased according to the contract language with our suppliers and the individual shipment terms for the order. The Company maintains insurance for the value of the inventory once the title has been passed until it is received at our warehouse (“inventory in transit”). Brand Partners that meet certain eligibility requirements may request and receive inventory on consignment. Consignment inventory is stated at the lower of cost or net realizable value, less an estimated reserve for consignment inventory that is not expected to be sold or returned to the Company. The total cost of inventory on consignment, excluding the estimated reserve, with Brand Partners was $1,388,700 and $1,531,600 at February 29, 2024 and February 28, 2023, respectively. The Company has reserved for consignment inventory not expected to be sold or returned of $379,600 and $488,500 as of February 29, 2024, and February 28, 2023, respectively. Inventories are presented net of a valuation allowance, which includes reserves for inventory obsolescence and Brand Partner 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 5 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years Capitalized software 4 – 10 years Molds and tooling 3 – 5 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, including capitalized software. The development of customer and Brand Partner software applications are critical to our ongoing business operations and included in capitalized software. External and internal costs associated with the development of new software applications incurred during the application development stage are capitalized. Training and maintenance costs are expensed as incurred, while upgrades and enhancements are capitalized if it is probable that such expenditures will result in additional functionality.
Assets Held For Sale [Policy Text Block]	Assets Held for Sale We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset or disposal group until the date of sale. We assess the fair value of a long-lived asset or disposal group less any costs to sell each reporting period it remains classified as held for sale and report any subsequent changes as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale. Upon determining that a long-lived asset or disposal group meets the criteria to be classified as held for sale, the Company ceases depreciation of the asset and reports long-lived assets and/or the assets and liabilities of the disposal group, if material, in the line items assets held for sale and liabilities held for sale, respectively, in our balance sheet. Refer to Note 3.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets
Lessee, Leases [Policy Text Block]	Leases
Income Tax, Policy [Policy Text Block]	Income Taxes
Revenue [Policy Text Block]	Revenue Recognition The majority of PaperPie’s sales contracts have a single performance obligation and are short-term in nature. PaperPie’s sales are generally collected at the time the product is ordered. Sales which have been paid for but not shipped are classified as deferred revenue on the balance sheets. Sales associated with consignment inventory are recognized when reported by the consignee and payment associated with the sale has been collected. Transportation revenue represents the amount billed to the customer for shipping the product and is recorded when the product is shipped. Certain PaperPie sales contracts associated with the hostess award programs include sales incentives, such as discounted products. These incentives provide a separate performance obligation in the contract and material rights 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 the products included as sales incentives are shipped with the associated products ordered, there is no deferral required. Revenues allocated to the material right are recognized in gross sales, discounts and allowances and cost of goods sold in our statements of operations. The majority of Publishing’s sales contracts have a single performance obligation and are short-term in nature. Publishing’s sales may be collected at the time the product is shipped or the customers may be given payment terms based primarily on their credit worthiness and payment history. Estimated allowances for sales returns, which reduce net revenues and cost of goods sold, are recorded as sales are recognized. Management uses a moving average calculation to estimate the allowance for sales returns. We are not responsible for a product damaged in transit and most damaged returns are primarily from retail stores. These returns result from damage that occurs in the stores, not in shipping to the stores. It is industry practice to accept non-damaged returns from retail customers. Management has estimated sales returns of approximately $201,500 for both February 29, 2024 and February 28, 2023, which is included in other current liabilities on the Company’s balance sheets. In addition, management has recorded an asset for the expected value of non-damaged inventories to be returned. The estimated value of returned products of $100,800 is included in other current assets on the Company’s balance sheets for both February 29, 2024 and February 28, 2023. The Company generally expenses sales commissions in the same period that the revenue is recognized. These costs are recorded within operating expenses. The Company does not disclose the value of unsatisfied performance obligations for contracts with an unexpected length of one year or less.
Advertising Cost [Policy Text Block]	Advertising Costs
Cost of Goods and Service [Policy Text Block]	Shipping and Handling Costs
Share-Based Payment Arrangement [Policy Text Block]	Share-Based Compensation
Derivatives, Policy [Policy Text Block]	Interest Rate Exchange Agreement The Company formally documents all relationships between hedging instruments and hedged items as well as its risk-management objective and strategy for undertaking various hedged transactions. This process includes linking all cash-flow hedges to specific assets and liabilities on the balance sheet or forecasted transactions. The Company also formally assesses, both at the hedge's inception and on an ongoing basis, whether they are highly effective in offsetting changes in cash flows of hedged items. When it is determined that the swap agreement is not highly effective or that it has ceased to be highly effective, the Company discontinues hedge accounting prospectively as discussed below. The Company discontinues hedge accounting prospectively when (a) it is determined that the swap agreement is no longer effective in offsetting changes in the cash flows of a hedged item (including forecasted transactions); (b) the swap agreement expires or is sold, terminated or exercised; (c) the swap agreement is de-designated as a hedge instrument because it is unlikely that a forecasted transaction will occur; or (d) management determines that designation as a hedge instrument is no longer appropriate. When hedge accounting is discontinued because it is probable that a forecasted transaction will not occur, the swap agreement will continue to be carried on the balance sheet at its fair value, and gains and losses that were accumulated in other comprehensive income or loss will be recognized immediately in earnings. In all other situations in which hedge accounting is discontinued, the swap agreement will be carried at its fair value on the balance sheet with subsequent changes in its fair value recognized in the current period’s earnings.
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 29 (28), 2024 2023 Earnings (loss) per share: Net earnings (loss) applicable to common shareholders $ 546,400 $ (2,504,900 ) Shares: Weighted average shares outstanding-basic 8,269,971 8,157,704 Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards 15,259 - Weighted average shares outstanding-diluted 8,285,230 8,157,704 Diluted earnings (loss) per share: Basic $ 0.07 $ (0.31 ) Diluted $ 0.07 $ (0.31 ) As shown in the table below, the following shares have not been included in the calculation of diluted earnings (loss) per share as they would be anti-dilutive to the calculation above. Year Ended February 29 (28), 2024 2023 Weighted average shares: Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards - 222,395
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Feb. 29, 2024
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 29 (28), 2024 2023 Earnings (loss) per share: Net earnings (loss) applicable to common shareholders $ 546,400 $ (2,504,900 ) Shares: Weighted average shares outstanding-basic 8,269,971 8,157,704 Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards 15,259 - Weighted average shares outstanding-diluted 8,285,230 8,157,704 Diluted earnings (loss) per share: Basic $ 0.07 $ (0.31 ) Diluted $ 0.07 $ (0.31 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	As shown in the table below, the following shares have not been included in the calculation of diluted earnings (loss) per share as they would be anti-dilutive to the calculation above. Year Ended February 29 (28), 2024 2023 Weighted average shares: Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards - 222,395
Property, Plant and Equipment, Estimated Useful Life [Member]
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 their estimated useful life, as follows: Building 30 years Building improvements 5 – 15 years Machinery and equipment 3 – 15 years Furniture and fixtures 3 years Capitalized software 4 – 10 years Molds and tooling 3 – 5 years

CASH (Tables)

CASH (Tables)	12 Months Ended
	Feb. 29, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents [Table Text Block]	The below table reconciles cash, cash equivalents and restricted cash as reported in the balance sheets to the total of the same amounts shown in the statements of cash flows: February 29, 2024 February 28, 2023 Cash and cash equivalents $ 844,500 $ 689,100 Restricted cash 432,900 - Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 1,277,400 $ 689,100

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Feb. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory [Table Text Block]	Inventories consist of the following: February 29 (28), 2024 2023 Current: Product inventory $ 44,303,000 $ 59,577,400 Inventory valuation allowance (389,800 ) (490,900 ) Inventories net - current $ 43,913,200 $ 59,086,500 Noncurrent: Product inventory $ 12,269,200 $ 5,135,200 Inventory valuation allowance (592,200 ) (415,600 ) Inventories net - noncurrent $ 11,677,000 $ 4,719,600

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Feb. 29, 2024
Property, Plant and Equipment [Member]
PROPERTY, PLANT AND EQUIPMENT (Tables) [Line Items]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consist of the following: February 29 (28), 2024 2023 Land $ - $ 4,107,200 Building - 20,424,900 Building improvements - 2,274,200 Machinery and equipment 14,156,400 14,234,900 Furniture and fixtures 124,000 121,700 Capitalized software 2,964,200 1,236,300 Molds and tooling 733,200 704,000 Capitalized software - in progress 313,500 1,265,000 Total property, plant and equipment 18,291,300 44,368,200 Less accumulated depreciation (9,351,700 ) (14,711,800 ) Property, plant and equipment-net $ 8,939,600 $ 29,656,400

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Feb. 29, 2024
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Other Current Liabilities [Table Text Block]	Other current liabilities consist of the following: February 29 (28), 2024 2023 Accrued royalties $ 324,700 $ 504,400 Accrued PaperPie incentives 1,393,000 1,189,900 Accrued freight 90,800 120,300 Sales tax payable 265,500 394,800 Allowance for expected inventory returns 201,500 201,500 Other 1,062,600 535,300 Total other current liabilities $ 3,338,100 $ 2,946,200

OTHER INCOME (Tables)

OTHER INCOME (Tables)	12 Months Ended
	Feb. 29, 2024
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	A summary of other income is show below: February 29 (28), 2024 2023 Federal tax credits realized $ 3,808,700 $ - Gain from sale of assets 4,016,700 - Rental income 1,544,000 1,565,000 Other income (loss) 24,900 (237,600 ) Total other income $ 9,394,300 $ 1,327,400

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Feb. 29, 2024
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 are as follows: February 29 (28), 2024 2023 Deferred tax assets: Allowance for credit losses $ 34,800 $ 57,200 Inventory overhead capitalization 112,800 170,100 Inventory valuation allowance 102,500 132,500 Inventory valuation allowance – noncurrent 159,900 112,200 Allowance for sales returns 27,200 27,200 Research and development capitalization 418,900 291,600 Net operating loss carryforward (1) 572,600 830,900 Disallowed interest 1,236,600 Accruals 343,800 1,069,100 Total deferred tax assets 3,009,100 2,690,800 Deferred tax liabilities: Property, plant, and equipment (1,602,600 ) (1,894,000 ) Total deferred tax liabilities (1,602,600 ) (1,894,000 ) Net deferred income tax assets $ 1,406,500 $ 796,800 (1) The Company’s net operating loss (“NOL”) carryforward was generated from losses incurred in fiscal 2023. The Company’s NOL can be carried forward indefinitely, but are limited to a 80% maximum offset of taxable income. Authoritative guidance requires a valuation allowance to be established when determining whether deferred tax assets are more likely-than-not to be realized. Based on the Company’s evaluation, we determined the net deferred tax assets meet the requirements to be realized, and as such, no valuation allowance has been established.
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income tax expense (benefit) are as follows: February 29 (28), 2024 2023 Current: Federal (1) $ - $ - State (1) - - - - Deferred: Federal 154,200 (719,700 ) State 33,900 (202,300 ) 188,100 (922,000 ) Total income tax expense (benefit) $ 188,100 $ (922,000 ) (1) The Company incurred losses in fiscal 2023, resulting in a net operating loss carryforward and reclassification from current to deferred.
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following reconciles our expected income tax rate to the U.S. federal statutory income tax rate: February 29 (28), 2024 2023 U.S. federal statutory income tax rate 21.0 % 21.0 % U.S. state and local income taxes–net of federal benefit 3.7 % 5.7 % Other 0.9 % 0.2 % Total income tax expense 25.6 % 26.9 %

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Feb. 29, 2024
Disclosure Text Block [Abstract]
Lease, Cost [Table Text Block]	We recognize a lease liability, reported in other liabilities on the balance sheets, for each lease based on the present value of remaining minimum fixed rental payments (which includes payments under any renewal option that we are reasonably certain to exercise), using a discount rate that approximates the rate of interest we would have to pay to borrow on a collateralized basis over a similar term. Expected payments in the next twelve months are classified as current lease liabilities. Payments in excess of twelve months are classified as long-term lease liabilities. We also recognize a right-of-use asset, reported in other assets on the balance sheets, for each lease, valued at the lease liability and adjusted for prepaid or accrued rent balances existing at the time of initial recognition. The lease liability and right-of-use assets are reduced over the term of the lease as payments are made and the assets are used. February 29 (28), 2024 2023 Operating lease assets: Right-of-use assets $ 1,614,900 $ 823,600 Operating lease liabilities: Current lease liabilities $ 726,900 $ 347,800 Long-term lease liabilities $ 888,000 $ 475,800 Weighted-average remaining lease term (months) 25.8 36.3 Weighted-average discount rate 4.34 % 4.01 % February 29 (28), 2024 2023 Fixed lease costs $ 563,900 $ 154,400 February 29 (28), 2024 2023 Operating cash flows – operating leases $ 563,900 $ 154,400
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Future minimum rental payments under operating leases with initial terms greater than one year as of February 29, 2024, are as follows: Years ending February 29 (28), 2025 $ 735,800 2026 600,200 2027 397,300 Total future minimum rental payments 1,733,300 Less: imputed interest (118,400 ) Total operating lease liabilities $ 1,614,900
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	Future minimum payments receivable under operating leases with terms greater than one year are estimated as follows: Years ending February 29 (28), 2025 $ 1,547,100 2026 1,524,300 2027 1,554,800 2028 1,585,900 2029 1,617,600 Thereafter 3,332,900 Total $ 11,162,600

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Feb. 29, 2024
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Debt consists of the following: February 29 (28), 2024 2023 Line of credit $ 5,498,100 $ 10,634,500 Floating rate term loan $ 17,300,000 $ 20,475,000 Fixed rate term loan 11,300,900 14,625,000 Total term debt 28,600,900 35,100,000 Less current portion (1,800,000 ) (34,894,900 ) Less debt issue cost (160,200 ) (205,100 ) Long-term debt, net $ 26,640,700 $ -
Schedule of Maturities of Long-Term Debt [Table Text Block]	The following table reflects aggregate current maturities of term debt, excluding the Revolving Loan, during the next fiscal year as follows: Years ending February 28 (29), 2025 $ 1,800,000 2026 1,800,000 2027 1,800,000 2028 23,200,900 Total $ 28,600,900

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Feb. 29, 2024
Share-Based Payment Arrangement, Disclosure [Abstract]
Share-Based Payment Arrangement, Cost by Plan [Table Text Block]	A summary of compensation expense recognized in connection with restricted share awards as follows: Year Ended February 29 (28), 2024 2023 Share-based compensation expense - net of forfeitures $ 212,000 $ 907,800
Nonvested Restricted Stock Shares Activity [Table Text Block]	The following table summarizes stock award activity during fiscal year 2024 under the 2019 LTI Plan: Shares Weighted Average Fair Value (per share) Outstanding at February 28, 2023 297,000 $ 6.04 Granted 35,285 1.84 Vested - - Forfeited (35,285 ) 6.20 Outstanding at February 29, 2024 297,000 $ 5.53

QUARTERLY RESULTS OF OPERATIO_2

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Feb. 29, 2024
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 29, 2024 and February 28, 2023: Net Revenues Gross Margin Net Earnings (Loss) Basic Earnings (Loss) Per Share Diluted Earnings (Loss) Per Share 2024 First quarter $ 14,524,000 $ 9,373,600 $ (872,800 ) $ (0.11 ) $ (0.11 ) Second quarter 10,593,100 6,908,800 1,061,700 0.13 0.13 Third quarter 16,944,800 11,142,400 1,972,100 0.24 0.24 Fourth quarter 8,968,400 5,560,100 (1,614,600 ) (0.19 ) (0.19 ) Total year $ 51,030,300 $ 32,984,900 $ 546,400 $ 0.07 $ 0.07 2023 First quarter $ 23,160,900 $ 15,309,400 $ 215,800 $ 0.03 $ 0.03 Second quarter 19,418,300 12,478,600 (801,900 ) (0.10 ) (0.10 ) Third quarter 30,269,400 19,228,000 900 0.00 0.00 Fourth quarter 14,980,400 9,053,800 (1,919,700 ) (0.24 ) (0.24 ) Total year $ 87,829,000 $ 56,069,800 $ (2,504,900 ) $ (0.31 ) $ (0.31 )

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Feb. 29, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information by industry segment for the years ended February 29, 2024 and February 28, 2023 is set forth below: 2024 2023 Publishing $ 5,405,100 $ 13,282,300 PaperPie 45,625,200 74,546,700 Total $ 51,030,300 $ 87,829,000 2024 2023 Publishing $ 1,223,300 $ 3,186,800 PaperPie 4,129,200 9,170,600 Other (4,618,000 ) (15,784,300 ) Total $ 734,500 $ (3,426,900 )

INTEREST RATE SWAP AGREEMENT (T

INTEREST RATE SWAP AGREEMENT (Tables)	12 Months Ended
	Feb. 29, 2024
Disclosure Text Block [Abstract]
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	The fair value of the interest rate swap is included in the following caption on the balance sheets as follows: February 29, 2024 February 28, 2023 Prepaid expenses and other assets $ 24,400 $ -

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Cash, FDIC Insured Amount	$ 250,000
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross	1,388,700	$ 1,531,600
Inventory Valuation Reserves	379,600	488,500
Asset Impairment Charges	0	0
Other Liabilities, Current	3,338,100	2,946,200
Advertising Expense	373,400	428,600
Cost of Goods and Services Sold	18,045,400	31,759,200
Returned Products [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Other Assets, Current	100,800	100,800
Shipping and Handling [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Cost of Goods and Services Sold	6,744,400	13,588,400
Sales Returns and Allowances [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Other Liabilities, Current	$ 201,500	$ 201,500

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Property, Plant and Equipment	Feb. 29, 2024
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	5 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
Software Development [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Tools, Dies and Molds [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Tools, Dies and Molds [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Diluted Earnings Per Share - USD ($)	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Earnings (loss) per share:
Net earnings (loss) applicable to common shareholders (in Dollars)									$ 546,400	$ (2,504,900)
Shares:
Weighted average shares outstanding-basic									8,269,971	8,157,704
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards									15,259	0
Weighted average shares outstanding-diluted									8,285,230	8,157,704
Diluted earnings (loss) per share:
Basic (in Dollars per share)	$ (0.19)	$ 0.24	$ 0.13	$ (0.11)	$ (0.24)	$ 0	$ (0.1)	$ 0.03	$ 0.07	$ (0.31)
Diluted (in Dollars per share)	$ (0.19)	$ 0.24	$ 0.13	$ (0.11)	$ (0.24)	$ 0	$ (0.1)	$ 0.03	$ 0.07	$ (0.31)

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Weighted average shares:
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	222,395

CASH (Details) - Schedule of Ca

CASH (Details) - Schedule of Cash and Cash Equivalents - USD ($)	Feb. 29, 2024	Feb. 28, 2023	Feb. 28, 2022
Schedule Of Cash And Cash Equivalents Abstract
Cash and cash equivalents	$ 844,500	$ 689,100
Restricted cash	432,900	0
Total cash, cash equivalents and restricted cash shown in the condensed statements of cash flows	$ 1,277,400	$ 689,100	$ 361,200

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details)	3 Months Ended
	Nov. 30, 2023 USD ($) ft² a	Feb. 29, 2024 USD ($) ft² a	Feb. 28, 2023 USD ($)
ASSETS HELD FOR SALE (Details) [Line Items]
Proceeds from Sale, Property, Held-for-Sale	$ 5,100,000
Gain (Loss) on Disposition of Property Plant Equipment	$ 4,016,700
Lessee, Operating Lease, Remaining Lease Term	36 months
Area of Real Estate Property (in Square Feet) | ft²	402,000	400,000
Area of Land (in Acres) | a	35	50
Asset, Held-for-Sale, Not Part of Disposal Group, Current		$ 18,281,100	$ 0
Measurement Input, Appraised Value [Member]
ASSETS HELD FOR SALE (Details) [Line Items]
Real Estate Investment Property, at Cost	$ 41,970,000
Undeveloped Land [Member]
ASSETS HELD FOR SALE (Details) [Line Items]
Area of Land (in Acres) | a	17

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Inventory Disclosure [Abstract]
Other Inventory, in Transit, Gross	$ 264,000	$ 850,100

INVENTORIES (Details) - Schedu

INVENTORIES (Details) - Schedule of Inventory, Noncurrent - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Inventory Current [Member]
Current:
Book inventory	$ 44,303,000	$ 59,577,400
Inventory valuation allowance	(389,800)	(490,900)
Inventories net	43,913,200	59,086,500
Inventory, Noncurrent [Member]
Current:
Book inventory	12,269,200	5,135,200
Inventory valuation allowance	(592,200)	(415,600)
Inventories net	$ 11,677,000	$ 4,719,600

BUSINESS CONCENTRATION (Details

BUSINESS CONCENTRATION (Details) - USD ($)	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 29, 2024	Feb. 28, 2023
BUSINESS CONCENTRATION (Details) [Line Items]
Gain Contingency, Unrecorded Amount	$ 1,000,000								$ 1,000,000
Revenues	8,968,400	$ 16,944,800	$ 10,593,100	$ 14,524,000	$ 14,980,400	$ 30,269,400	$ 19,418,300	$ 23,160,900	51,030,300	$ 87,829,000
Payments for Purchase of Other Assets									9,241,100	20,377,600
Inventory, Net	43,913,200				59,086,500				43,913,200	59,086,500
England Based Publishing Company [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Payments for Purchase of Other Assets									2,052,300	11,448,500
Accounts Payable	1,006,000				117,600				1,006,000	117,600
Inventory, Net	$ 29,010,200				$ 35,363,500				29,010,200	35,363,500
Revenue Benchmark [Member] | Product Concentration Risk [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Revenues									$ 2,740,000	$ 23,220,600
Usborne Books and More [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Concentration Risk, Percentage									24.20%	83.10%

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT (Details) - Schedule of Property, Plant and Equipment - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 18,291,300	$ 44,368,200
Less accumulated depreciation	(9,351,700)	(14,711,800)
Property, Plant and Equipment, Net	8,939,600	29,656,400
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	0	4,107,200
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	0	20,424,900
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	0	2,274,200
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	14,156,400	14,234,900
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	124,000	121,700
Software Development [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,964,200	1,236,300
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	733,200	704,000
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 313,500	$ 1,265,000

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - Schedule of Other Current Liabilities - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Schedule Of Other Current Liabilities Abstract
Accrued royalties	$ 324,700	$ 504,400
Accrued PaperPie incentives	1,393,000	1,189,900
Accrued freight	90,800	120,300
Sales tax payable	265,500	394,800
Allowance for expected inventory returns	201,500	201,500
Other	1,062,600	535,300
Total other current liabilities	$ 3,338,100	$ 2,946,200

Schedule of Other Nonoperating

Schedule of Other Nonoperating Income (Expense) (Details) - Schedule of Other Nonoperating Income (Expense) - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Other Income and Expenses [Abstract]
Income Tax Credits and Adjustments	$ 3,808,700	$ 0
Gain (Loss) on Disposition of Other Assets	4,016,700	0
Rental Income, Nonoperating	1,544,000	1,565,000
Other Nonoperating Income	24,900
Other Nonoperating Expense		237,600
Other Nonoperating Income (Expense)	$ 9,394,300	$ 1,327,400

INCOME TAXES (Details) - Sched

INCOME TAXES (Details) - Schedule of Deferred Tax Assets and Liabilities - USD ($)		Feb. 29, 2024	Feb. 28, 2023
Deferred tax assets:
Allowance for credit losses		$ 34,800	$ 57,200
Inventory overhead capitalization		112,800	170,100
Inventory valuation allowance		102,500	132,500
Inventory valuation allowance – noncurrent		159,900	112,200
Allowance for sales returns		27,200	27,200
Research and development capitalization		418,900	291,600
Net operating loss carryforward (1)	[1]	572,600	830,900
Disallowed interest		1,236,600	0
Accruals		343,800	1,069,100
Total deferred tax assets		3,009,100	2,690,800
Deferred tax liabilities:
Property, plant, and equipment		(1,602,600)	(1,894,000)
Total deferred tax liabilities		(1,602,600)	(1,894,000)
Net deferred income tax assets		$ 1,406,500	$ 796,800
[1]The Company’s net operating loss (“NOL”) carryforward was generated from losses incurred in fiscal 2023. The Company’s NOL can be carried forward indefinitely, but are limited to a 80% maximum offset of taxable income. Authoritative guidance requires a valuation allowance to be established when determining whether deferred tax assets are more likely-than-not to be realized. Based on the Company’s evaluation, we determined the net deferred tax assets meet the requirements to be realized, and as such, no valuation allowance has been established.

INCOME TAXES (Details) - Sch_2

INCOME TAXES (Details) - Schedule of Components of Income Tax Expense (Benefit) - USD ($)		12 Months Ended
		Feb. 29, 2024	Feb. 28, 2023
Current:
Federal (1)	[1]	$ 0	$ 0
State (1)	[1]	0	0
		0	0
Deferred:
Federal		154,200	(719,700)
State		33,900	(202,300)
		188,100	(922,000)
Total income tax expense (benefit)		$ 188,100	$ (922,000)
[1]The Company incurred losses in fiscal 2023, resulting in a net operating loss carryforward and reclassification from current to deferred.

INCOME TAXES (Details) - Sch_3

INCOME TAXES (Details) - Schedule of Effective Income Tax Rate Reconciliation	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Schedule Of Effective Income Tax Rate Reconciliation Abstract
U.S. federal statutory income tax rate	21%	21%
U.S. state and local income taxes–net of federal benefit	3.70%	5.70%
Other	0.90%	0.20%
Total income tax expense	25.60%	26.90%

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
401(k) Plan [Member]
EMPLOYEE BENEFIT PLAN (Details) [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 151,700	$ 160,800

LEASES (Details)

LEASES (Details)	12 Months Ended
	Feb. 29, 2024 USD ($) ft² a	Nov. 30, 2023 ft² a	Feb. 28, 2023 USD ($)
LEASES (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²	400,000	402,000
Area of Land (in Acres) | a	50	35
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	$ 10,159,500		$ 10,637,900
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation	$ 2,776,400		$ 2,853,200
San Diego, California and Layton, Utah [Member]
LEASES (Details) [Line Items]
Number of Rental Agreements	4
Tulsa, Oklahoma [Member]
LEASES (Details) [Line Items]
Number of Rental Agreements	1
Building [Member]
LEASES (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²	181,300
Lessee, Operating Lease, Term of Contract	15 years
Area of Real Estate, Percentage Leased	45.30%
Lessee, Operating Lease, Description	The lessee pays $123,900 per month, through the lease anniversary date of December 2024 with a 2.0% annual increase adjustment on each anniversary date thereafter.
Operating Lease, Expense	$ 123,900
Lessee, Operating Lease, Renewal Term	5 years

LEASES (Details) - Lease, Cost

LEASES (Details) - Lease, Cost - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Operating lease assets:
Right-of-use assets	$ 1,614,900	$ 823,600
Operating lease liabilities:
Current lease liabilities	726,900	347,800
Long-term lease liabilities	$ 888,000	$ 475,800
Average remaining lease term (months)	25 months 24 days	36 months 9 days
Discount Rate	4.34%	4.01%
Fixed lease costs	$ 563,900	$ 154,400
Operating cash flows – operating leases	$ 563,900	$ 154,400

LEASES (Details) - Lessee, Oper

LEASES (Details) - Lessee, Operating Lease, Liability, Maturity	Feb. 29, 2024 USD ($)
Lessee Operating Lease Liability Maturity Abstract
2025	$ 735,800
2026	600,200
2027	397,300
Total future minimum rental payments	1,733,300
Less: imputed interest	(118,400)
Total operating lease liabilities	$ 1,614,900

LEASES (Details) - Lessor, Oper

LEASES (Details) - Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	Feb. 29, 2024 USD ($)
Lessor Operating Lease Payment To Be Received Fiscal Year Maturity Abstract
2025	$ 1,547,100
2026	1,524,300
2027	1,554,800
2028	1,585,900
2029	1,617,600
Thereafter	3,332,900
Total	$ 11,162,600

DEBT (Details)

DEBT (Details)

12 Months Ended

Feb. 29, 2024 USD ($) ft² a

Nov. 30, 2023 USD ($) ft² a

Jun. 06, 2023 USD ($)

Jun. 05, 2023 USD ($)

May 10, 2023 USD ($)

Feb. 29, 2024 USD ($) ft² a

May 30, 2025 USD ($)

May 31, 2024 USD ($)

Jan. 31, 2024 USD ($)

Jan. 30, 2024 USD ($)

Dec. 20, 2023 USD ($)

Dec. 01, 2023 USD ($)

Nov. 29, 2023 USD ($)

Oct. 30, 2023 USD ($)

Aug. 30, 2023 USD ($)

Jul. 15, 2023 USD ($)

Feb. 28, 2023 USD ($)

Aug. 09, 2022 USD ($)

DEBT (Details) [Line Items]

Derivative, Notional Amount

$ 17,300,000

$ 17,300,000

Debt Instrument, Interest Rate, Effective Percentage

9.82%

9.82%

Long-Term Line of Credit

$ 5,498,100

$ 5,498,100

$ 8,000,000

$ 10,634,500

Line of Credit Facility, Capacity Available for Trade Purchases

$ 2,100,000

Area of Real Estate Property (in Square Feet) | ft²

400,000

402,000

400,000

Area of Land (in Acres) | a

50

35

50

Debt Instrument, Maturity Date

Aug. 09, 2027

Long-Term Debt

$ 28,600,900

$ 28,600,900

$ 35,100,000

Letters of Credit Outstanding, Amount

$ 7,500,000

Measurement Input, Appraised Value [Member]

DEBT (Details) [Line Items]

Real Estate Investment Property, at Cost

$ 41,970,000

Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

3.50%

Debt Instrument, Interest Rate, Stated Percentage

4.73%

Fixed Rate Term Loan [Member]

DEBT (Details) [Line Items]

Debt Instrument, Face Amount

$ 15,000,000

Debt Instrument, Interest Rate, Stated Percentage

4.26%

Long-Term Debt

$ 15,000,000

Floating Rate Term Loan [Member]

DEBT (Details) [Line Items]

Debt Instrument, Face Amount

$ 21,000,000

21,000,000

Debt Instrument, Basis Spread on Variable Rate

6.48%

Debt Conversion, Original Debt, Amount

$ 21,000,000

Debt Instrument, Maturity Date

May 30, 2025

Long-Term Debt

$ 21,000,000

Floating Rate Term Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

1.75%

Revolving Loan [Member]

DEBT (Details) [Line Items]

Debt Instrument, Face Amount

$ 15,000,000

Debt Instrument, Interest Rate, Effective Percentage

9.82%

9.82%

Debt Instrument, Maturity Date

May 31, 2024

Long-Term Debt

$ 8,000,000

Revolving Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

4.50%

Unused Land [Member]

DEBT (Details) [Line Items]

Area of Land (in Acres) | a

15

15

Subsequent Event [Member]

DEBT (Details) [Line Items]

Derivative, Notional Amount

$ 13,000,000

$ 18,000,000

Revised Loan Agreement [Member]

DEBT (Details) [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 4,000,000

$ 4,500,000

$ 5,000,000

$ 9,000,000

$ 10,500,000

$ 13,500,000

Revised Loan Agreement [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

4.50%

Line of Credit [Member]

DEBT (Details) [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 14,000,000

$ 13,500,000

Line of Credit Facility, Maximum Month-end Outstanding Amount

$ 8,000,000

Line of Credit Facility, Current Borrowing Capacity

$ 2,501,900

$ 2,501,900

DEBT (Details) - Schedule of D

DEBT (Details) - Schedule of Debt - USD ($)	Feb. 29, 2024	Dec. 01, 2023	Feb. 28, 2023
DEBT (Details) - Schedule of Debt [Line Items]
Line of credit	$ 5,498,100	$ 8,000,000	$ 10,634,500
Term loan	28,600,900		35,100,000
Less current portion	(1,800,000)		(34,894,900)
Less debt issue cost	(160,200)		(205,100)
Long-term debt, net	26,640,700		0
Advancing term loan #1 [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Term loan	17,300,000		20,475,000
Term loan #1 [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Term loan	$ 11,300,900		$ 14,625,000

DEBT (Details) - Schedule of M

DEBT (Details) - Schedule of Maturities of Long-term Debt - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Schedule Of Maturities Of Long Term Debt Abstract
2025	$ 1,800,000
2026	1,800,000
2027	1,800,000
2028	23,200,900
Total	$ 28,600,900	$ 35,100,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Feb. 29, 2024 USD ($)
Inventory [Member]
COMMITMENTS AND CONTINGENCIES (Details) [Line Items]
Purchase Commitment, Remaining Minimum Amount Committed	$ 1,424,800

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jul. 31, 2021	Jul. 31, 2018	Feb. 29, 2024	Feb. 28, 2023	Feb. 28, 2021	Feb. 28, 2019
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares			35,285
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross				18,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)			$ 1.84	$ 2.08
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount (in Dollars)			$ 403,600
The 2019 Long-term Incentive Plan [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Description		The 2019 LTI Plan established up to 600,000 shares of restricted stock available to be granted to certain members of management based on exceeding specified net revenues and pre-tax performance metrics during fiscal years 2019, 2020 or 2021. The Company exceeded all defined metrics during these fiscal years and 600,000 shares were granted to members of management according to the Plan. The granted shares under the 2019 LTI Plan “cliff vest” after five years from the fiscal year that the defined metrics were exceeded.
Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture		600,000			297,000	308,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	300,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period	5 years
Shares Issued, Price Per Share (in Dollars per share)					$ 6.3	$ 9.94
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares				10,000	5,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross				10,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)				$ 2.08
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares				303,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			12 months
Fiscal Year 2021 [Member] | The 2019 Long-term Incentive Plan [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares				18,000
Additional Shares Purchased With Dividends Received From Original Issue Date [Member] | The 2019 Long-term Incentive Plan [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares				969
Additional Shares Purchased With Dividends Received From Original Issue Date [Member] | Fiscal Year 2021 [Member] | The 2019 Long-term Incentive Plan [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares				760

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details) - Share-based Payment Arrangement, Cost by Plan - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Share Based Payment Arrangement Cost By Plan Abstract
Share-based compensation expense	$ 212,000	$ 907,800

SHARE-BASED COMPENSATION (Det_3

SHARE-BASED COMPENSATION (Details) - Nonvested Restricted Stock Shares Activity - $ / shares	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Nonvested Restricted Stock Shares Activity Abstract
Outstanding, Shares	297,000
Outstanding, Weighted Average Fair Value	$ 6.04
Granted, Shares	35,285
Granted, Weighted Average Fair Value	$ 1.84	$ 2.08
Vested, Shares	0
Vested, Weighted Average Fair Value	$ 0
Forfeited, Shares	(35,285)
Forfeited, Weighted Average Fair Value	$ 6.2
Outstanding, Shares	297,000	297,000
Outstanding, Weighted Average Fair Value	$ 5.53	$ 6.04

STOCK REPURCHASE PLAN (Details)

STOCK REPURCHASE PLAN (Details) - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 04, 2019	Apr. 30, 2008
Share-Based Payment Arrangement [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			1,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	376,393	800,000
Treasury Stock, Shares, Acquired	138,201
Share-Based Compensation Arrangement by Share-Based Payment Award, Per Share Weighted Average Price of Shares Purchased (in Dollars per share)	$ 4.08
Treasury Stock, Value, Acquired, Cost Method (in Dollars)	$ 563,900

QUARTERLY RESULTS OF OPERATIO_3

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Schedule of Quarterly Financial Information - USD ($)	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 29, 2024	Feb. 28, 2023
2024
Net Revenues	$ 8,968,400	$ 16,944,800	$ 10,593,100	$ 14,524,000	$ 14,980,400	$ 30,269,400	$ 19,418,300	$ 23,160,900	$ 51,030,300	$ 87,829,000
Gross Margin	5,560,100	11,142,400	6,908,800	9,373,600	9,053,800	19,228,000	12,478,600	15,309,400	32,984,900	56,069,800
Net Earnings	$ (1,614,600)	$ 1,972,100	$ 1,061,700	$ (872,800)	$ (1,919,700)	$ 900	$ (801,900)	$ 215,800	$ 546,400	$ (2,504,900)
Basic Earnings Per Share (in Dollars per share)	$ (0.19)	$ 0.24	$ 0.13	$ (0.11)	$ (0.24)	$ 0	$ (0.1)	$ 0.03	$ 0.07	$ (0.31)
Diluted Earnings Per Share (in Dollars per share)	$ (0.19)	$ 0.24	$ 0.13	$ (0.11)	$ (0.24)	$ 0	$ (0.1)	$ 0.03	$ 0.07	$ (0.31)

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details)	12 Months Ended
	Feb. 29, 2024
Segment Reporting [Abstract]
Number of Reportable Segments	2

BUSINESS SEGMENTS (Details) -

BUSINESS SEGMENTS (Details) - Schedule of Information by Industry Segment - USD ($)	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Feb. 29, 2024	Feb. 28, 2023
Segment Reporting Information [Line Items]
Net Revenues	$ 8,968,400	$ 16,944,800	$ 10,593,100	$ 14,524,000	$ 14,980,400	$ 30,269,400	$ 19,418,300	$ 23,160,900	$ 51,030,300	$ 87,829,000
Earnings (Loss) Before Income Taxes									734,500	(3,426,900)
Publishing [Member]
Segment Reporting Information [Line Items]
Net Revenues									5,405,100	13,282,300
Earnings (Loss) Before Income Taxes									1,223,300	3,186,800
Paper Pie [Member]
Segment Reporting Information [Line Items]
Net Revenues									45,625,200	74,546,700
Earnings (Loss) Before Income Taxes									4,129,200	9,170,600
Other Segments [Member]
Segment Reporting Information [Line Items]
Earnings (Loss) Before Income Taxes									$ (4,618,000)	$ (15,784,300)

INTEREST RATE SWAP AGREEMENT (D

INTEREST RATE SWAP AGREEMENT (Details) - USD ($)	Nov. 30, 2023	Jun. 05, 2023	Feb. 29, 2024	Aug. 09, 2022
INTEREST RATE SWAP AGREEMENT (Details) [Line Items]
Debt Instrument, Maturity Date	Aug. 09, 2027
Derivative, Notional Amount			$ 17,300,000
Floating Rate Term Loan [Member]
INTEREST RATE SWAP AGREEMENT (Details) [Line Items]
Debt Instrument, Face Amount		$ 21,000,000		$ 21,000,000
Debt Instrument, Maturity Date		May 30, 2025
Debt Instrument, Basis Spread on Variable Rate		6.48%
Floating Rate Term Loan [Member] | Swap Transaction [Member]
INTEREST RATE SWAP AGREEMENT (Details) [Line Items]
Debt Instrument, Face Amount		$ 18,000,000

INTEREST RATE SWAP AGREEMENT _2

INTEREST RATE SWAP AGREEMENT (Details) - Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location - USD ($)	Feb. 29, 2024	Feb. 28, 2023
Schedule Of Cash Flow Hedging Instruments Statements Of Financial Performance And Financial Position Location Abstract
Prepaid expenses and other assets	$ 24,400	$ 0

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - USD ($)	Feb. 29, 2024	Feb. 28, 2023
FINANCIAL INSTRUMENTS (Details) [Line Items]
Asset, Held-for-Sale, Not Part of Disposal Group	$ 40,019,200
Interest Rate Derivative Assets, at Fair Value	24,400	$ 0
Fair Value, Inputs, Level 2 [Member]
FINANCIAL INSTRUMENTS (Details) [Line Items]
Long-Term Debt, Fair Value	28,152,800	$ 34,253,500
Interest Rate Derivative Assets, at Fair Value	$ 24,400

DEFERRED REVENUES (Details)

DEFERRED REVENUES (Details) - USD ($)	12 Months Ended
	Feb. 29, 2024	Feb. 28, 2023
Insurance [Abstract]
Deferred Revenue, Additions	$ 583,500	$ 602,700

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($)		12 Months Ended
	Apr. 24, 2024	Feb. 29, 2024
SUBSEQUENT EVENT (Details) [Line Items]
Accrual, Real and Personal Property Taxes, Uncertainty		The Company pays personal property taxes to Tulsa County (“County”) for equipment as well as inventory on hand at December 31st that is expected to be sold within the state of Oklahoma. In March 2024, the Company filed their 2024 Personal Property Tax Rendition that continued to exclude inventory that is sold outside of Oklahoma as well as inventory that is not sold within the exemption period allowed by the County. The Company’s estimated personal property taxes for fiscal 2024 were approximately $270,000. On April 24, 2024 the Company received a notice of disapproval of its rendition and a tax assessment against all of its owned inventory on hand at December 31,2023, thereby increasing the expected personal property tax to approximately $729,000.
Subsequent Event, Effect of Change in Tax Status		$ 270,000
Subsequent Event [Member]
SUBSEQUENT EVENT (Details) [Line Items]
Subsequent Event, Effect of Change in Tax Status	$ 729,000