Educational Development (EDUC) 10-Q 15 Jul 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	May 31, 2024	Jul. 07, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	May 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
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 Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	5402 South 122nd East Ave
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		8,581,601

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	May 31, 2024	Feb. 29, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 1,141,200	$ 844,500
Restricted cash	888,200	432,900
Accounts receivable, less allowance for credit losses of $135,900 (May 31) and $129,000 (February 29)	2,314,500	1,936,900
Inventories - net	38,977,200	43,913,200
Prepaid expenses and other assets	651,500	630,800
Assets held for sale	18,281,100	18,281,100
Total current assets	62,253,700	66,039,400
INVENTORIES - net	13,751,600	11,677,000
PROPERTY, PLANT AND EQUIPMENT - net	8,575,500	8,939,600
DEFERRED INCOME TAX ASSET	1,545,300	1,406,500
OPERATING LEASE RIGHT-OF-USE ASSETS	1,447,900	1,614,900
OTHER ASSETS	436,800	427,600
TOTAL ASSETS	88,010,800	90,105,000
CURRENT LIABILITIES:
Accounts payable	3,693,000	3,910,200
Line of credit	5,598,100	5,498,100
Deferred revenues	450,800	583,500
Operating lease liabilities, current	688,100	726,900
Current maturities of long-term debt	1,800,000	1,800,000
Accrued salaries and commissions	804,400	384,400
Income taxes payable	1,109,000	773,400
Other current liabilities	2,490,700	3,338,100
Total current liabilities	16,634,100	17,014,600
LONG-TERM DEBT - net	26,201,900	26,640,700
OPERATING LEASE LIABILITIES, non-current	759,800	888,000
OTHER LONG-TERM LIABILITIES	111,000	111,000
Total liabilities	43,706,800	44,654,300
SHAREHOLDERS' EQUITY:
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,702,080 shares; Outstanding 8,579,088 (May 31) and 8,575,088 (February 29) shares	2,540,400	2,540,400
Capital in excess of par value	13,502,100	13,405,400
Retained earnings	41,287,600	42,566,600
Accumulated other comprehensive income	47,300	24,400
	57,377,400	58,536,800
Less treasury stock, at cost	(13,073,400)	(13,086,100)
Total shareholders' equity	44,304,000	45,450,700
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 88,010,800	$ 90,105,000

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parentheticals) - USD ($)	May 31, 2024	Feb. 29, 2024
Statement of Financial Position [Abstract]
Accounts receivable, less allowance for credit losses (in Dollars)	$ 135,900	$ 129,000
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
Common stock, shares outstanding	8,579,088	8,575,088

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
NET REVENUES	$ 9,993,400	$ 14,524,000
COST OF GOODS SOLD	3,533,900	5,150,400
Gross margin	6,459,500	9,373,600
OPERATING EXPENSES
Operating and selling	1,880,100	2,397,900
Sales commissions	3,058,900	4,199,800
General and administrative	3,199,500	3,634,500
Total operating expenses	8,138,500	10,232,200
INTEREST EXPENSE	576,700	733,400
OTHER INCOME	(508,700)	(391,400)
EARNINGS (LOSS) BEFORE INCOME TAXES	(1,747,000)	(1,200,600)
INCOME TAX EXPENSE (BENEFIT)	(468,000)	(327,800)
NET EARNINGS (LOSS)	$ (1,279,000)	$ (872,800)
BASIC AND DILUTED LOSS PER SHARE
Basic (in Dollars per share)	$ (0.15)	$ (0.11)
Diluted (in Dollars per share)	$ (0.15)	$ (0.11)
WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic (in Shares)	8,266,771	8,278,049
Diluted (in Shares)	8,266,771	8,278,049
Dividends per share (in Dollars per share)	$ 0	$ 0
Gross Sales [Member]
REVENUES	$ 15,792,800	$ 20,586,600
Discounts and Allowances [Member]
Less discounts and allowances	(6,201,900)	(7,071,300)
Transportation Revenue [Member]
REVENUES	$ 402,500	$ 1,008,700

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,279,000)	$ (872,800)
Other comprehensive income:
Unrealized gain on interest rate exchange agreement	22,900	0
Comprehensive loss	$ (1,256,100)	$ (872,800)

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
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
Share-based compensation expense - net		96,200				96,200
Net loss			(872,800)			(872,800)
Balance at May. 31, 2023	$ 2,540,400	13,289,600	41,147,400		$ (13,086,100)	43,891,300
Balance (in Shares) at May. 31, 2023	12,702,080				4,126,992
Balance at Feb. 29, 2024	$ 2,540,400	13,405,400	42,566,600	$ 24,400	$ (13,086,100)	45,450,700
Balance (in Shares) at Feb. 29, 2024	12,702,080				4,126,992
Sales of treasury stock		(4,100)			$ 12,700	8,600
Sales of treasury stock (in Shares)					(4,000)
Share-based compensation expense - net		100,800				100,800
Change in fair value of interest rate exchange agreement				22,900		22,900
Net loss			(1,279,000)			(1,279,000)
Balance at May. 31, 2024	$ 2,540,400	$ 13,502,100	$ 41,287,600	$ 47,300	$ (13,073,400)	$ 44,304,000
Balance (in Shares) at May. 31, 2024	12,702,080				4,122,992

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,279,000)	$ (872,800)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	486,600	683,600
Deferred income taxes	(138,800)	(329,700)
Provision for credit losses	29,600	0
Provision for inventory valuation allowance	40,700	51,200
Share-based compensation expense - net	100,800	96,200
Net loss on sale of assets	3,700	0
Changes in assets and liabilities:
Accounts receivable	(407,200)	217,800
Inventories - net	2,820,700	1,430,400
Prepaid expenses and other assets	(13,800)	128,000
Accounts payable	(217,200)	767,100
Accrued salaries and commissions and other liabilities	(427,400)	(1,362,500)
Deferred revenues	(132,700)	367,800
Income taxes payable/receivable	335,600	0
Total adjustments	2,480,600	2,049,900
Net cash provided by operating activities	1,201,600	1,177,100
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(112,200)	(300,900)
Proceeds from sale of assets	4,000	0
Net cash used in investing activities	(108,200)	(300,900)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments on term debt	(450,000)	(450,000)
Cash paid to acquire treasury stock	0	(563,900)
Sales of treasury stock	8,600	0
Net borrowings under line of credit	100,000	324,700
Net cash used in financing activities	(341,400)	(689,200)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	752,000	187,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - BEGINNING OF PERIOD	1,277,400	689,100
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - END OF PERIOD	2,029,400	876,100
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Cash paid for interest	582,500	722,200
Cash paid for income taxes (net of refunds)	$ 18,400	$ 8,400

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 1 Basis of Presentation The accompanying Unaudited Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim condensed financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. The Unaudited Condensed Financial Statements include all adjustments considered necessary for a fair presentation of the financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed herein. Accordingly, the Unaudited Condensed Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim Unaudited Condensed Financial Statements should be read in conjunction with our audited financial statements as of and for the year ended February 29, 2024 included in our Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for a full year due to the seasonality of our product sales. Use of Estimates in the Preparation of Financial Statements The preparation of the Unaudited Condensed Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Significant Accounting Policies Our significant accounting policies, other than the adoption of new accounting pronouncements separately documented herein and unless otherwise disclosed, are consistent with those disclosed in Note 1 to our audited financial statements as of and for the year ended February 29, 2024 included in our Form 10-K. Liquidity In accordance with ASC 205-40, 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 October 4, 2024, along with recurring operating losses and other items, raise substantial doubt over the Company's ability to continue as a going concern. To address these concerns, the Company has taken steps in its plans to reduce debt by selling owned real estate. On June 6, 2024 the Company executed an agreement to sell the Hilti Complex for $35,500,000, the closing of which remains subject to the satisfaction of various closing conditions. Upon closing, the proceeds from the sale are expected to pay off the Term Loans and Revolving Loan. Following the loan payoff, management plans to fund ongoing operations with limited borrowings 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, if achieved, will alleviate the substantial doubt about continuing as a going concern and generate sufficient liquidity to meet our obligations as they become due over the next twelve months. New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. We have reviewed the recently issued pronouncements and concluded the following new accounting standard updates (“ASU”) apply to us: 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	3 Months Ended
	May 31, 2024
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	Note 2 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: May 31, 2024 May 31, 2023 Cash and cash equivalents $ 1,141,200 $ 876,100 Restricted cash 888,200 - Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 2,029,400 $ 876,100 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. The Company has classified the cash held in reserves by PayPal and Nexio as restricted cash.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	3 Months Ended
	May 31, 2024
Assets Held For Sale Abstract
Assets Held For Sale [Text Block]	Note 3 During the third quarter of 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. See Note 15 for the real estate contract for the Hilti Complex that occurred subsequent to May 31, 2024. The Company records assets held for sale at the lower of their carrying value or fair value less costs to sell. As of May 31, 2024 and February 29, 2024, the total carrying value of assets held for sale, consisting of the Hilti Complex with excess land of 17-acres, was $18,281,100 and is separately recorded on the balance sheets.

INVENTORIES

INVENTORIES	3 Months Ended
	May 31, 2024
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 4 Inventories consist of the following: May 31, 2024 February 29, 2024 Current: Product inventory $ 39,390,200 $ 44,303,000 Inventory valuation allowance (413,000 ) (389,800 ) Inventories net – current $ 38,977,200 $ 43,913,200 Noncurrent: Product inventory $ 14,309,200 $ 12,269,200 Inventory valuation allowance (557,600 ) (592,200 ) Inventories net – noncurrent $ 13,751,600 $ 11,677,000 Inventory in transit totaled $98,100 and $264,000 at May 31, 2024 and February 29, 2024, respectively. Product inventory quantities in excess of what we expect will be sold within the normal operating cycle, based on 2½ years of anticipated sales, are included in noncurrent inventory.

LEASES

LEASES	3 Months Ended
	May 31, 2024
Disclosure Text Block [Abstract]
Lessor, Operating Leases [Text Block]	Note 5 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, Oklahoma, 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. May 31, 2024 February 29, 2024 Operating lease assets: Right-of-use assets $ 1,447,900 $ 1,614,900 Operating lease liabilities: Current lease liabilities $ 688,100 $ 726,900 Long-term lease liabilities $ 759,800 $ 888,000 Weighted-average remaining lease term (months) 22.8 25.8 Weighted-average discount rate 4.34 % 4.34 % Minimum fixed rental payments are recognized on a straight-line basis over the life of the lease as costs and expenses in our statements of operations. Variable and short-term rental payments are recognized as costs and expenses as they are incurred. May 31, 2024 May 31, 2023 Fixed lease costs $ 189,800 $ 105,800 Future minimum rental payments under operating leases with initial terms greater than one year as of May 31, 2024, are as follows: Years ending February 28 (29), 2025 $ 546,100 2026 600,200 2027 397,300 Total future minimum rental payments 1,543,600 Less: imputed interest (95,700 ) Total operating lease liabilities $ 1,447,900 The following table provides further information about our operating leases reported in our condensed financial statements: May 31, 2024 May 31, 2023 Operating cash outflows – operating leases $ 189,800 $ 105,800 Operating Leases Lessor In connection with the 2015 purchase of 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-year extension, which is not a bargain renewal option, at the expiration of the 15-year term. Revenues associated with the lease are being recorded on a straight-line basis over the initial lease term and are reported in other income in the statements of operations. We recognize variable rental payments as revenue in the period in which the changes in facts and circumstances, on which the variable lease payments are based, occur. See Note 15 for the additional lease that commenced subsequent to May 31, 2024. Future minimum payments receivable under operating leases with terms greater than one year are estimated as follows: Years ending February 28 (29), 2025 $ 1,149,000 2026 1,524,300 2027 1,554,800 2028 1,585,900 2029 1,617,600 Thereafter 3,332,900 Total $ 10,764,500 The cost of the leased space was $10,159,500 at May 31, 2024 and February 29, 2024. The accumulated depreciation associated with the leased assets was $2,776,400 at May 31, 2024 and February 29, 2024, 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. See Note 15 for the real estate contract for the Hilti Complex that occurred subsequent to May 31, 2024.

DEBT

DEBT	3 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 6 Debt consists of the following: May 31, 2024 February 29, 2024 Line of credit $ 5,598,100 $ 5,498,100 Floating rate term loan $ 17,037,500 $ 17,300,000 Fixed rate term loan 11,113,400 11,300,900 Total term debt 28,150,900 28,600,900 Less current maturities (1,800,000 ) (1,800,000 ) Less debt issue cost (149,000 ) (160,200 ) Long-term debt, net $ 26,201,900 $ 26,640,700 On August 9, 2022, the Company executed a 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 agreements 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 use 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 May 31, 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 17 acres of adjacent unused land, in July of 2023 with a market value of $41,970,000. On June 13, 2024, the Company executed the Fifth Amendment to the Existing Credit Agreement with the Lender. The Amendment, effective May 31, 2024, adjusts the maximum availability of the Revolving Loan commitment to $7,000,000 through the maturity date of October 4, 2024. The Amendment also requires an additional decrease in the Revolving Loan to $4,500,000 from the effective date of the sale of the Hilti Complex among other restrictions and requirements. Available credit under the current $7,000,000 revolving line of credit with the Company’s Lender was approximately $1,401,900 at May 31, 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) $7 Million Revolving Loan with maturity date of October 4, 2024. The Revolving Loan bears interest at a rate per annum equal to Term SOFR Rate + 4.50% (effective rate was 9.82% at May 31, 2024) (v) Revolving Loan allows for Letters of Credit upon bank approval (none were outstanding at May 31, 2024) The following table reflects aggregate current maturities of term debt, excluding the Revolving Loan, during the current fiscal year as follows: Years ending February 28 (29), 2025 $ 1,350,000 2026 1,800,000 2027 1,800,000 2028 23,200,900 Total $ 28,150,900

BUSINESS CONCENTRATION

BUSINESS CONCENTRATION	3 Months Ended
	May 31, 2024
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	Note 7 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 offers 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 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 $0, during the quarter ended May 31, 2024, and 67.3%, or $2,740,000, during the quarter ended May 31, 2023. Gross sales of Usborne products sold within the PaperPie division accounted for approximately 45.1%, or $5,875,700 during the quarter ended May 31, 2024, and 50.6%, or $8,362,300, during the quarter ended May 31, 2023. Purchases received from Usborne were approximately $51,800 and $935,600 for the period ended May 31, 2024 and 2023, respectively. Total inventory purchases for those same periods were approximately $767,000 and $3,190,200, respectively. Total Usborne inventory owned by the Company and included in our condensed balance sheets were $27,574,300 and $29,010,200 as of May 31, 2024 and February 29, 2024 respectively.

LOSS PER SHARE

LOSS PER SHARE	3 Months Ended
	May 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 8 Basic earnings (loss) per share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS is based on the combined weighted average number of common shares outstanding and dilutive potential common shares issuable which include, where appropriate, the assumed exercise of options and the assumed vesting of granted restricted share awards. In computing Diluted EPS, we have utilized the treasury stock method. The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below: Three Months Ended May 31, 2024 2023 Net loss per share: Net loss applicable to common shareholders $ (1,279,000 ) $ (872,800 ) Weighted average shares: Weighted average shares outstanding-basic 8,266,771 8,278,049 Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards - - Weighted average shares outstanding-diluted 8,266,771 8,278,049 Loss per share: Basic $ (0.15 ) $ (0.11 ) Diluted $ (0.15 ) $ (0.11 ) As shown in the table below, the following shares have not been included in the calculation of diluted loss per share as they would be anti-dilutive to the calculation above. Three Months Ended May 31, 2024 2023 Weighted average shares: Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards 140,751 8,551

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	May 31, 2024
Share-Based Payment Arrangement, Disclosure [Abstract]
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]	Note 9 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 established 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 or 2023. The Company did not exceed the defined metrics during these fiscal years and no shares were granted to members of management according to the Plan. 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 remaining first tranche of granted shares totaling 303,000 shares 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 unrecognized compensation expense of these awards, totaling approximately $302,700 as of May 31, 2024, will be recognized ratably over the remaining vesting period of 9 months. A summary of compensation expense recognized in connection with restricted share awards follows: Three Months Ended May 31, 2024 2023 Share-based compensation expense $ 100,800 $ 96,200 The following table summarizes stock award activity during the first three months of fiscal year 2025 under the 2019 LTI Plan: Shares Weighted Average Fair Value (per share) Outstanding at February 29, 2024 297,000 $ 5.53 Granted - - Vested - - Forfeited - - Outstanding at May 31, 2024 297,000 $ 5.53

SHIPPING AND HANDLING COSTS

SHIPPING AND HANDLING COSTS	3 Months Ended
	May 31, 2024
Other Income and Expenses [Abstract]
Other Operating Income and Expense [Text Block]	Note 10 We classify shipping and handling costs as operating and selling expenses in the condensed statements of operations. Shipping and handling costs include postage, freight, handling costs, as well as shipping materials and supplies. These costs were $1,546,600 and $1,938,100 for the three months ended May 31, 2024 and 2023, respectively.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	May 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 11 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 7 for the impact of our updated Usborne distribution agreement on the Publishing segment. The accounting policies of the segments are the same as those of the rest of the Company. We evaluate segment performance based on earnings before income taxes of the segments, which is defined as segment net 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 reporting segment for the three-month periods ended May 31, 2024 and 2023, are as follows: NET REVENUES Three Months Ended May 31, 2024 2023 PaperPie $ 8,900,300 $ 12,583,200 Publishing 1,093,100 1,940,800 Total $ 9,993,400 $ 14,524,000 LOSS BEFORE INCOME TAXES Three Months Ended May 31, 2024 2023 PaperPie $ 771,100 $ 1,658,700 Publishing 231,600 460,000 Other (2,749,700 ) (3,319,300 ) Total $ (1,747,000 ) $ (1,200,600 )

INTEREST RATE EXCHANGE AGREEMEN

INTEREST RATE EXCHANGE AGREEMENT	3 Months Ended
	May 31, 2024
Disclosure Text Block [Abstract]
Derivatives and Fair Value [Text Block]	Note 12 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 $17,037,500 on May 31, 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 condensed balance sheets as follows: May 31, 2024 February 29, 2024 Prepaid expenses and other assets $ 47,300 $ 24,400 There was no portion of unrealized gain that was excluded from the assessment of hedge effectiveness.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	May 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 13 The following methods and assumptions are used in estimating the fair-value disclosures for financial instruments: - The carrying amounts reported on the balance sheets for cash and cash equivalents, 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 $37,000,000 as of May 31, 2024 and February 29, 2024, respectively. Management's estimates are based on the recent sale agreement for the price of the Hilti Complex less the estimated costs to sell plus an estimated value of the excess land of approximately 17 acres for $2,500,000. - The estimated fair value of our term notes payable is estimated by management to approximate $27,665,500 and $28,152,800 as of May 31, 2024 and February 29, 2024, 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 $47,300 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	3 Months Ended
	May 31, 2024
Insurance [Abstract]
Deferred Revenue Disclosure [Text Block]	Note 14 The Company’s PaperPie division receives payments on orders in advance of shipment. Any payments received prior to the end of the period that were not shipped as of May 31, 2024 or February 29, 2024 are recorded as deferred revenues on the condensed balance sheets. We received approximately $450,800 and $583,500 as of May 31, 2024 and February 29, 2024, respectively, in payments for sales orders which were, or will be, shipped out subsequent to the end of the period.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	May 31, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 15 On May 26, 2024, the Company entered into a triple-net lease agreement for approximately 111,000 square feet of available office and warehouse space in the Hilti Complex to a new tenant. The initial lease term is five years, commencing July 1, 2024, and includes an option to extend the lease term for an additional five years. The initial lease rate shall be $9.05 per rentable square foot, with 3% escalations at the beginning of each year of the lease. The lease includes standard triple-net terms such that the Tenant shall be responsible for utilities, insurance, property taxes and repairs and maintenance, excluding roof and structure, which shall be the Landlords’ responsibility. The lease also includes other terms considered to be normal and customary in the local market. On June 6, 2024, the Company executed a Commercial Real Estate Sale Contract (“Contract”) with Rockford Holdings, LLC (“Buyer”) for the Hilti Complex. The agreed upon sale price of the Hilti Complex per the executed Contract totaled $35,500,000, the closing of which remains subject to the satisfaction of various closing conditions. The proceeds from the sale will be utilized to pay off the Term Loans and Revolving Loan outstanding in the Credit Agreement with the Company's Bank.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,279,000)	$ (872,800)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	May 31, 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)	3 Months Ended
	May 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying Unaudited Condensed Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim condensed financial information and in accordance with the rules and regulations of the Securities and Exchange Commission. The Unaudited Condensed Financial Statements include all adjustments considered necessary for a fair presentation of the financial position and results of operations for the interim periods presented. Such adjustments consist only of normal recurring items, unless otherwise disclosed herein. Accordingly, the Unaudited Condensed Financial Statements do not include all of the information and notes required by GAAP for complete financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim Unaudited Condensed Financial Statements should be read in conjunction with our audited financial statements as of and for the year ended February 29, 2024 included in our Form 10-K. The results of operations for interim periods are not necessarily indicative of the results to be expected for a full year due to the seasonality of our product sales.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates in the Preparation of Financial Statements The preparation of the Unaudited Condensed Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates.
Liquidity [Policy Text Block]	Liquidity In accordance with ASC 205-40, 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 October 4, 2024, along with recurring operating losses and other items, raise substantial doubt over the Company's ability to continue as a going concern. To address these concerns, the Company has taken steps in its plans to reduce debt by selling owned real estate. On June 6, 2024 the Company executed an agreement to sell the Hilti Complex for $35,500,000, the closing of which remains subject to the satisfaction of various closing conditions. Upon closing, the proceeds from the sale are expected to pay off the Term Loans and Revolving Loan. Following the loan payoff, management plans to fund ongoing operations with limited borrowings 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, if achieved, will alleviate the substantial doubt about continuing as a going concern and generate sufficient liquidity to meet our obligations as they become due over the next twelve months.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. We have reviewed the recently issued pronouncements and concluded the following new accounting standard updates (“ASU”) apply to us: 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 (Tables)

CASH (Tables)	3 Months Ended
	May 31, 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: May 31, 2024 May 31, 2023 Cash and cash equivalents $ 1,141,200 $ 876,100 Restricted cash 888,200 - Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 2,029,400 $ 876,100

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	May 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory [Table Text Block]	Inventories consist of the following: May 31, 2024 February 29, 2024 Current: Product inventory $ 39,390,200 $ 44,303,000 Inventory valuation allowance (413,000 ) (389,800 ) Inventories net – current $ 38,977,200 $ 43,913,200 Noncurrent: Product inventory $ 14,309,200 $ 12,269,200 Inventory valuation allowance (557,600 ) (592,200 ) Inventories net – noncurrent $ 13,751,600 $ 11,677,000

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	May 31, 2024
Disclosure Text Block [Abstract]
Lease, Cost [Table Text Block]	May 31, 2024 February 29, 2024 Operating lease assets: Right-of-use assets $ 1,447,900 $ 1,614,900 Operating lease liabilities: Current lease liabilities $ 688,100 $ 726,900 Long-term lease liabilities $ 759,800 $ 888,000 Weighted-average remaining lease term (months) 22.8 25.8 Weighted-average discount rate 4.34 % 4.34 % May 31, 2024 May 31, 2023 Fixed lease costs $ 189,800 $ 105,800 May 31, 2024 May 31, 2023 Operating cash outflows – operating leases $ 189,800 $ 105,800
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 May 31, 2024, are as follows: Years ending February 28 (29), 2025 $ 546,100 2026 600,200 2027 397,300 Total future minimum rental payments 1,543,600 Less: imputed interest (95,700 ) Total operating lease liabilities $ 1,447,900
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 28 (29), 2025 $ 1,149,000 2026 1,524,300 2027 1,554,800 2028 1,585,900 2029 1,617,600 Thereafter 3,332,900 Total $ 10,764,500

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	May 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	May 31, 2024 February 29, 2024 Line of credit $ 5,598,100 $ 5,498,100 Floating rate term loan $ 17,037,500 $ 17,300,000 Fixed rate term loan 11,113,400 11,300,900 Total term debt 28,150,900 28,600,900 Less current maturities (1,800,000 ) (1,800,000 ) Less debt issue cost (149,000 ) (160,200 ) Long-term debt, net $ 26,201,900 $ 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 current fiscal year as follows: Years ending February 28 (29), 2025 $ 1,350,000 2026 1,800,000 2027 1,800,000 2028 23,200,900 Total $ 28,150,900

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	3 Months Ended
	May 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below: Three Months Ended May 31, 2024 2023 Net loss per share: Net loss applicable to common shareholders $ (1,279,000 ) $ (872,800 ) Weighted average shares: Weighted average shares outstanding-basic 8,266,771 8,278,049 Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards - - Weighted average shares outstanding-diluted 8,266,771 8,278,049 Loss per share: Basic $ (0.15 ) $ (0.11 ) Diluted $ (0.15 ) $ (0.11 )
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 loss per share as they would be anti-dilutive to the calculation above. Three Months Ended May 31, 2024 2023 Weighted average shares: Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards 140,751 8,551

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	May 31, 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 follows: Three Months Ended May 31, 2024 2023 Share-based compensation expense $ 100,800 $ 96,200
Nonvested Restricted Stock Shares Activity [Table Text Block]	The following table summarizes stock award activity during the first three months of fiscal year 2025 under the 2019 LTI Plan: Shares Weighted Average Fair Value (per share) Outstanding at February 29, 2024 297,000 $ 5.53 Granted - - Vested - - Forfeited - - Outstanding at May 31, 2024 297,000 $ 5.53

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	May 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Information by reporting segment for the three-month periods ended May 31, 2024 and 2023, are as follows: NET REVENUES Three Months Ended May 31, 2024 2023 PaperPie $ 8,900,300 $ 12,583,200 Publishing 1,093,100 1,940,800 Total $ 9,993,400 $ 14,524,000 LOSS BEFORE INCOME TAXES Three Months Ended May 31, 2024 2023 PaperPie $ 771,100 $ 1,658,700 Publishing 231,600 460,000 Other (2,749,700 ) (3,319,300 ) Total $ (1,747,000 ) $ (1,200,600 )

INTEREST RATE EXCHANGE AGREEM_2

INTEREST RATE EXCHANGE AGREEMENT (Tables)	3 Months Ended
	May 31, 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 condensed balance sheets as follows: May 31, 2024 February 29, 2024 Prepaid expenses and other assets $ 47,300 $ 24,400

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 06, 2024 USD ($)
Subsequent Event [Member]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Proceeds from Sale of Real Estate	$ 35,500,000

CASH (Details) - Schedule of Ca

CASH (Details) - Schedule of Cash and Cash Equivalents - USD ($)	May 31, 2024	Feb. 29, 2024	May 31, 2023	Feb. 28, 2023
Schedule Of Cash And Cash Equivalents Abstract
Cash and cash equivalents	$ 1,141,200	$ 844,500	$ 876,100
Restricted cash	888,200		0
Total cash, cash equivalents and restricted cash shown in the condensed statements of cash flows	$ 2,029,400	$ 1,277,400	$ 876,100	$ 689,100

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details)	3 Months Ended
	May 31, 2024 USD ($) m² ft² a	May 26, 2024 ft²	Nov. 30, 2023 USD ($)
ASSETS HELD FOR SALE (Details) [Line Items]
Area of Real Estate Property | ft²	400,000
Area of Land | a	50
Real Estate Investment Property, at Cost (in Dollars)			$ 41,970,000
Proceeds from Sale, Property, Held-for-Sale (in Dollars)	$ 18,281,100
Office and Warehouse [Member]
ASSETS HELD FOR SALE (Details) [Line Items]
Area of Real Estate Property	402,000	111,000
Area of Land | m²	35
Undeveloped Land [Member]
ASSETS HELD FOR SALE (Details) [Line Items]
Area of Land | m²	17
Measurement Input, Appraised Value [Member]
ASSETS HELD FOR SALE (Details) [Line Items]
Real Estate Investment Property, at Cost (in Dollars)	$ 41,970,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	May 31, 2024	Feb. 29, 2024
Inventory Disclosure [Abstract]
Other Inventory, in Transit, Gross	$ 98,100	$ 264,000

INVENTORIES (Details) - Schedu

INVENTORIES (Details) - Schedule of Inventory - USD ($)	May 31, 2024	Feb. 29, 2024
Inventory Current [Member]
Current:
Book inventory	$ 39,390,200	$ 44,303,000
Inventory valuation allowance	(413,000)	(389,800)
Inventories net	38,977,200	43,913,200
Inventory, Noncurrent [Member]
Current:
Book inventory	14,309,200	12,269,200
Inventory valuation allowance	(557,600)	(592,200)
Inventories net	$ 13,751,600	$ 11,677,000

LEASES (Details)

LEASES (Details)		3 Months Ended
	Jul. 01, 2024	May 31, 2024 USD ($) ft²	Feb. 29, 2024 USD ($)
LEASES (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²		400,000
Lessee, Operating Lease, Description	The initial lease rate shall be $9.05 per rentable square foot, with 3% escalations at the beginning of each year of the lease. The lease includes standard triple-net terms such that the Tenant shall be responsible for utilities, insurance, property taxes and repairs and maintenance, excluding roof and structure, which shall be the Landlords’ responsibility.
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation		$ 10,159,500	$ 10,159,500
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation		$ 2,776,400	$ 2,776,400
Building [Member]
LEASES (Details) [Line Items]
Lessee, Operating Lease, Term of Contract		15 years
Area of Real Estate Property (in Square Feet) | ft²		181,300
Area Of Real Estate Percentage Leased		45.30%
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

LEASES (Details) - Lease, Cost

LEASES (Details) - Lease, Cost - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023	Feb. 29, 2024
Operating lease assets:
Right-of-use assets	$ 1,447,900		$ 1,614,900
Operating lease liabilities:
Current lease liabilities	688,100		726,900
Long-term lease liabilities	$ 759,800		$ 888,000
Weighted-average remaining lease term (months)	22 months 24 days		25 months 24 days
Weighted-average discount rate	4.34%		4.34%
Fixed lease costs	$ 189,800	$ 105,800
Operating cash outflows – operating leases	$ 189,800	$ 105,800

LEASES (Details) - Lessee, Oper

LEASES (Details) - Lessee, Operating Lease, Liability, to be Paid, Maturity	May 31, 2024 USD ($)
Lessee Operating Lease Liability To Be Paid Maturity Abstract
2025	$ 546,100
2026	600,200
2027	397,300
Total future minimum rental payments	1,543,600
Less: imputed interest	(95,700)
Total operating lease liabilities	$ 1,447,900

LEASES (Details) - Lessor, Oper

LEASES (Details) - Lessor, Operating Lease, Payment to be Received, Maturity	May 31, 2024 USD ($)
Lessor Operating Lease Payment To Be Received Maturity Abstract
2025	$ 1,149,000
2026	1,524,300
2027	1,554,800
2028	1,585,900
2029	1,617,600
Thereafter	3,332,900
Total	$ 10,764,500

DEBT (Details)

DEBT (Details)

3 Months Ended

Jun. 13, 2024 USD ($)

Aug. 09, 2023 USD ($)

Jun. 06, 2023 USD ($)

Jun. 05, 2023 USD ($)

May 10, 2023 USD ($)

May 31, 2024 USD ($) ft² a

May 30, 2025 USD ($)

Feb. 29, 2024 USD ($)

Jan. 31, 2024 USD ($)

Jan. 30, 2024 USD ($)

Dec. 30, 2023 USD ($)

Dec. 01, 2023 USD ($)

Nov. 30, 2023 USD ($)

Nov. 29, 2023 USD ($)

Oct. 30, 2023 USD ($)

Aug. 30, 2023 USD ($)

Jul. 15, 2023 USD ($)

Aug. 09, 2022 USD ($)

DEBT (Details) [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 14,000,000

$ 13,500,000

Long-Term Line of Credit

$ 5,598,100

$ 5,498,100

$ 8,000,000

Line of Credit Facility, Capacity Available for Trade Purchases

$ 2,100,000

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

400,000

Area of Land (in Acres) | a

50

Real Estate Investment Property, at Cost

$ 41,970,000

Debt Instrument, Maturity Date

Aug. 09, 2027

Line of Credit Facility, Maximum Month-end Outstanding Amount

$ 7,000,000

Line of Credit Facility, Current Borrowing Capacity

1,401,900

Long-Term Debt

28,150,900

28,600,900

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

11,113,400

11,300,900

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

1.75%

6.48%

Debt Conversion, Original Debt, Amount

$ 21,000,000

Derivative Liability, Notional Amount

18,000,000

Debt Instrument, Interest Rate, Stated Percentage

4.73%

Debt Instrument, Maturity Date

May 30, 2025

Long-Term Debt

$ 21,000,000

$ 17,037,500

$ 17,300,000

Revolving Loan [Member]

DEBT (Details) [Line Items]

Debt Instrument, Face Amount

$ 15,000,000

Debt Instrument, Basis Spread on Variable Rate

3.50%

Debt Instrument, Interest Rate, Effective Percentage

9.82%

Line of Credit Facility, Maximum Borrowing Capacity

$ 7,000,000

Debt Instrument, Maturity Date

Oct. 04, 2024

Line of Credit Facility, Increase (Decrease), Other, Net

$ 4,500,000

Long-Term Debt

$ 7,000,000

Stepdown Revolving Loan [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

4.50%

Debt Instrument, Interest Rate, Effective Percentage

9.82%

Debt Instrument, Maturity Date

Oct. 04, 2024

Revised Loan Agreement [Member]

DEBT (Details) [Line Items]

Debt Instrument, Basis Spread on Variable Rate

4.50%

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

Subsequent Event [Member] | Floating Rate Term Loan [Member]

DEBT (Details) [Line Items]

Derivative Liability, Notional Amount

$ 13,000,000

Unused Land [Member]

DEBT (Details) [Line Items]

Area of Land (in Acres) | a

17

DEBT (Details) - Schedule of De

DEBT (Details) - Schedule of Debt - USD ($)	May 31, 2024	Feb. 29, 2024	Dec. 01, 2023	Aug. 09, 2023
DEBT (Details) - Schedule of Debt [Line Items]
Line of credit	$ 5,598,100	$ 5,498,100	$ 8,000,000
Total term debt	28,150,900	28,600,900
Less current maturities	(1,800,000)	(1,800,000)
Less debt issue cost	(149,000)	(160,200)
Long-term debt, net	26,201,900	26,640,700
Floating Rate Term Loan [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Total term debt	17,037,500	17,300,000		$ 21,000,000
Fixed Rate Term Loan [Member]
DEBT (Details) - Schedule of Debt [Line Items]
Total term debt	$ 11,113,400	$ 11,300,900		$ 15,000,000

DEBT (Details) - Schedule of Ma

DEBT (Details) - Schedule of Maturities of Long-Term Debt - USD ($)	May 31, 2024	Feb. 29, 2024
Schedule Of Maturities Of Long Term Debt Abstract
2025	$ 1,350,000
2026	1,800,000
2027	1,800,000
2028	23,200,900
Total	$ 28,150,900	$ 28,600,900

BUSINESS CONCENTRATION (Details

BUSINESS CONCENTRATION (Details) - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023	Feb. 29, 2024	Nov. 30, 2023
BUSINESS CONCENTRATION (Details) [Line Items]
Gain Contingency, Unrecorded Amount				$ 1,000,000
Revenues	$ 9,993,400	$ 14,524,000
Payments for Purchase of Other Assets	767,000	3,190,200
Inventory, Net	38,977,200		$ 43,913,200
England Based Publishing Company [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Payments for Purchase of Other Assets	51,800	935,600
Inventory, Net	27,574,300		$ 29,010,200
Product Concentration Risk [Member] | Revenue Benchmark [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Revenues	0
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Usborne Books And More [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Revenues		$ 2,740,000
Concentration Risk, Percentage		67.30%
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Usborne Products [Member]
BUSINESS CONCENTRATION (Details) [Line Items]
Revenues	$ 5,875,700	$ 8,362,300
Concentration Risk, Percentage	45.10%	50.60%

LOSS PER SHARE (Details) - Sche

LOSS PER SHARE (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Net loss per share:
Net loss applicable to common shareholders (in Dollars)	$ (1,279,000)	$ (872,800)
Weighted average shares:
Weighted average shares outstanding-basic	8,266,771	8,278,049
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards	0	0
Weighted average shares outstanding-diluted	8,266,771	8,278,049
Loss per share:
Basic (in Dollars per share)	$ (0.15)	$ (0.11)
Diluted (in Dollars per share)	$ (0.15)	$ (0.11)

LOSS PER SHARE (Details) - Sc_2

LOSS PER SHARE (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares	3 Months Ended
	May 31, 2024	May 31, 2023
Weighted average shares:
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards	140,751	8,551

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	Jul. 31, 2021	Jul. 31, 2018	May 31, 2024	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	18,000
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)			$ 0	$ 1.84	$ 2.08
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount (in Dollars)			$ 302,700
Additional Shares Purchased with Dividends Received from Original Issue Date [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares					760
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.
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized		600,000
Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture		600,000				297,000	308,000
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					303,000,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			9 months
The 2019 Long-term Incentive Plan [Member] | Additional Shares Purchased with Dividends Received from Original Issue Date [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares					969
The 2022 Long-term Incentive Plan [Member]
SHARE-BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Description	The 2022 LTI Plan established 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 or 2023. The Company did not exceed the defined metrics during these fiscal years and no shares were granted to members of management according to the Plan.
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	300,000

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details) - Share-based Payment Arrangement, Cost by Plan - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Share Based Payment Arrangement Cost By Plan Abstract
Share-based compensation expense	$ 100,800	$ 96,200

SHARE-BASED COMPENSATION (Det_3

SHARE-BASED COMPENSATION (Details) - Nonvested Restricted Stock Shares Activity - $ / shares	3 Months Ended	12 Months Ended
	May 31, 2024	Feb. 29, 2024	Feb. 28, 2023
Nonvested Restricted Stock Shares Activity Abstract
Outstanding, Shares	297,000
Outstanding, Weighted Average Fair Value	$ 5.53
Granted, Shares	0
Granted, Weighted Average Fair Value	$ 0	$ 1.84	$ 2.08
Vested, Shares	0
Vested, Weighted Average Fair Value	$ 0
Forfeited, Shares	0
Forfeited, Weighted Average Fair Value	$ 0
Outstanding, Shares	297,000	297,000
Outstanding, Weighted Average Fair Value	$ 5.53	$ 5.53

SHIPPING AND HANDLING COSTS (De

SHIPPING AND HANDLING COSTS (Details) - USD ($)	3 Months Ended
	May 31, 2024	May 31, 2023
Shipping and Handling [Member]
SHIPPING AND HANDLING COSTS (Details) [Line Items]
Cost of Goods and Services Sold	$ 1,546,600	$ 1,938,100

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details)	3 Months Ended
	May 31, 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
	May 31, 2024	May 31, 2023
Segment Reporting Information [Line Items]
Net Revenues	$ 9,993,400	$ 14,524,000
Loss Before Income Taxes	(1,747,000)	(1,200,600)
PaperPie [Member]
Segment Reporting Information [Line Items]
Net Revenues	8,900,300	12,583,200
Loss Before Income Taxes	771,100	1,658,700
Publishing [Member]
Segment Reporting Information [Line Items]
Net Revenues	1,093,100	1,940,800
Loss Before Income Taxes	231,600	460,000
Other Operating Segment [Member]
Segment Reporting Information [Line Items]
Loss Before Income Taxes	$ (2,749,700)	$ (3,319,300)

INTEREST RATE EXCHANGE AGREEM_3

INTEREST RATE EXCHANGE AGREEMENT (Details) - USD ($)	Aug. 09, 2023	Jun. 05, 2023	May 31, 2024	Aug. 09, 2022
INTEREST RATE EXCHANGE AGREEMENT (Details) [Line Items]
Debt Instrument, Maturity Date	Aug. 09, 2027
Derivative, Notional Amount			$ 17,037,500
Floating Rate Term Loan [Member]
INTEREST RATE EXCHANGE 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	1.75%	6.48%
Swap Transaction [Member] | Floating Rate Term Loan [Member]
INTEREST RATE EXCHANGE AGREEMENT (Details) [Line Items]
Debt Instrument, Face Amount		$ 18,000,000

INTEREST RATE EXCHANGE AGREEM_4

INTEREST RATE EXCHANGE AGREEMENT (Details) - Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location - USD ($)	May 31, 2024	Feb. 29, 2024
Interest Rate Contract [Member]
INTEREST RATE EXCHANGE AGREEMENT (Details) - Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Line Items]
Interest rate swap	$ 47,300	$ 24,400

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details)	May 31, 2024 USD ($) a	Feb. 29, 2024 USD ($)
FINANCIAL INSTRUMENTS (Details) [Line Items]
Asset, Held-for-Sale, Not Part of Disposal Group	$ 37,000,000	$ 37,000,000
Area of Land (in Acres) | a	50
Land	$ 2,500,000
Fair Value, Inputs, Level 2 [Member]
FINANCIAL INSTRUMENTS (Details) [Line Items]
Long-Term Debt, Fair Value	27,665,500	$ 28,152,800
Interest Rate Derivative Assets, at Fair Value	$ 47,300
Unused Land [Member]
FINANCIAL INSTRUMENTS (Details) [Line Items]
Area of Land (in Acres) | a	17

DEFERRED REVENUES (Details)

DEFERRED REVENUES (Details) - USD ($)	3 Months Ended	12 Months Ended
	May 31, 2024	Feb. 29, 2024
Insurance [Abstract]
Deferred Revenue, Additions	$ 450,800	$ 583,500

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Jul. 01, 2024	Jun. 06, 2024 USD ($)	May 31, 2024 m² ft²	May 26, 2024 ft²
SUBSEQUENT EVENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet) | ft²			400,000
Lessee, Operating Lease, Renewal Term	5 years
Lessee, Operating Lease, Description	The initial lease rate shall be $9.05 per rentable square foot, with 3% escalations at the beginning of each year of the lease. The lease includes standard triple-net terms such that the Tenant shall be responsible for utilities, insurance, property taxes and repairs and maintenance, excluding roof and structure, which shall be the Landlords’ responsibility.
Office and Warehouse [Member]
SUBSEQUENT EVENTS (Details) [Line Items]
Area of Real Estate Property (in Square Feet)			402,000	111,000
Subsequent Event [Member]
SUBSEQUENT EVENTS (Details) [Line Items]
Lessee, Operating Lease, Term of Contract	5 years
Proceeds from Sale of Buildings (in Dollars) | $		$ 35,500,000