Shorepower (SPEV) 10-Q 9 Jan 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Nov. 30, 2022	Jan. 04, 2023
Document And Entity Information
Document Type	10-Q
Document Period End Date	Nov. 30, 2022
Entity Registrant Name	UNITED STATES BASKETBALL LEAGUE INC
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-15913
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1120072
Entity Address, Address Line One	8270 Woodland Center
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33614
City Area Code	813
Local Phone Number	769-3500
Title of 12(b) Security	Common Stock
Trading Symbol	USBL
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,345,348
Entity Central Index Key	0000764630
Current Fiscal Year End Date	--02-28
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Nov. 30, 2022	Feb. 28, 2022
Current Assets:
Cash	$ 133,713	$ 180,756
Prepaid stock for services	135,000	32,208
Other prepaids	2,440
Total Assets	271,153	212,964
Current Liabilities:
Accounts payable and accrued expenses	5,040	13,478
Total Current Liabilities	5,040	13,478
Total Liabilities	5,040	13,478
Stockholders' Equity (Deficit):
Preferred stock
Common stock, $0.01 par value, 100,000,000 shares authorized; 10,345,348 and 8,845,348 shares issued and outstanding, respectively	103,453	88,453
Additional paid-in capital	7,736,701	7,346,701
Accumulated deficit	(7,531,587)	(7,193,214)
Treasury stock, at cost; 39,975 shares of common stock	(42,454)	(42,454)
Total Stockholders' Equity	266,113	199,486
Total Liabilities and Stockholders' Deficit	271,153	212,964
Series A Preferred Stock
Stockholders' Equity (Deficit):
Preferred stock

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Nov. 30, 2022	Feb. 28, 2022
Preferred stock, par value (in dollars Per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars Per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	10,345,348	8,845,348
Common stock, shares outstanding	10,345,348	8,845,348
Treasury stock, shares	39,975	39,975
Series A Preferred Stock
Preferred stock, par value (in dollars Per share)	$ 0.01	$ 0.01
Preferred stock, shares designated	1,105,644	1,105,644
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
CONDENSED STATEMENTS OF OPERATIONS
Revenue - related party		$ 5,000		$ 5,000
Operating Expenses:
Professional fees	$ 7,100	5,151	$ 17,940	17,423
General and administrative	80,178	87,720	117,933	193,186
Director compensation	202,500		202,500	48,000
Total operating expenses	289,778	92,871	338,373	258,609
Loss from Operations	(289,778)	(87,871)	(338,373)	(253,609)
Other Income (Expense):
Gain on forgiveness of debt				66,747
Other income				2,000
Loss on conversion of debt - related party				(127,480)
Total other expense				(58,733)
Net loss	$ (289,778)	$ (87,871)	$ (338,373)	$ (312,342)
Loss per Common Share:
Basic	$ (0.03)	$ (0.01)	$ (0.04)	$ (0.06)
Diluted	$ (0.03)	$ (0.01)	$ (0.04)	$ (0.06)
Weighted Average Number of Common Shares Outstanding:
Basic	9,405,788	7,146,202	9,030,803	5,303,232
Diluted	9,405,788	7,146,202	9,030,803	5,303,232

CONDENSED STATEMENT OF STOCKHOL

CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Preferred Stock Series A Preferred Stock	Common Stock To be Issued	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Total
Beginning balance at Feb. 28, 2021	$ 35,525	$ 11,057		$ 2,679,855	$ (5,119,824)	$ (42,454)	$ (2,435,841)
Beginning balance (in shares) at Feb. 28, 2021	3,552,502	1,105,679
Treasury stock beginning balance (in shares) at Feb. 28, 2021						39,975
Common stock issued for services			$ 111,250				111,250
Common stock issued for director services			48,000				48,000
Common stock sold for cash			240,000				240,000
Forgiveness of related party debt				2,343,370			2,343,370
Net Loss					(18,648)		(18,648)
Ending balance at May. 31, 2021	$ 35,525	$ 11,057	399,250	5,023,225	(5,138,472)	$ (42,454)	288,131
Ending balance (in shares) at May. 31, 2021	3,552,502	1,105,679
Treasury stock ending balance (in shares) at May. 31, 2021						39,975
Beginning balance at Feb. 28, 2021	$ 35,525	$ 11,057		2,679,855	(5,119,824)	$ (42,454)	(2,435,841)
Beginning balance (in shares) at Feb. 28, 2021	3,552,502	1,105,679
Treasury stock beginning balance (in shares) at Feb. 28, 2021						39,975
Net Loss							(312,342)
Ending balance at Nov. 30, 2021	$ 71,462	$ 11,057		5,649,888	(5,432,166)	$ (42,454)	257,787
Ending balance (in shares) at Nov. 30, 2021	7,146,202	1,105,679
Treasury stock ending balance (in shares) at Nov. 30, 2021						39,975
Beginning balance at May. 31, 2021	$ 35,525	$ 11,057	399,250	5,023,225	(5,138,472)	$ (42,454)	288,131
Beginning balance (in shares) at May. 31, 2021	3,552,502	1,105,679
Treasury stock beginning balance (in shares) at May. 31, 2021						39,975
Common stock issued for services	$ 8,750		(159,250)	254,500			104,000
Common stock issued for services (in shares)	875,000
Common stock sold for cash	$ 24,000		$ (240,000)	216,000
Common stock sold for cash (in shares)	2,400,000
Common stock issued for loans payable - related party	$ 3,187			156,163			159,350
Common stock issued for loans payable - related party (in shares)	318,700
Net Loss					(205,823)		(205,823)
Ending balance at Aug. 31, 2021	$ 71,462	$ 11,057		5,649,888	(5,344,295)	$ (42,454)	345,658
Ending balance (in shares) at Aug. 31, 2021	7,146,202	1,105,679
Treasury stock ending balance (in shares) at Aug. 31, 2021						39,975
Net Loss					(87,871)		(87,871)
Ending balance at Nov. 30, 2021	$ 71,462	$ 11,057		5,649,888	(5,432,166)	$ (42,454)	257,787
Ending balance (in shares) at Nov. 30, 2021	7,146,202	1,105,679
Treasury stock ending balance (in shares) at Nov. 30, 2021						39,975
Beginning balance at Feb. 28, 2022	$ 88,453			7,346,701	(7,193,214)	$ (42,454)	$ 199,486
Beginning balance (in shares) at Feb. 28, 2022	8,845,348
Treasury stock beginning balance (in shares) at Feb. 28, 2022						39,975	39,975
Net Loss					(38,401)		$ (38,401)
Ending balance at May. 31, 2022	$ 88,453			7,346,701	(7,231,615)	$ (42,454)	161,085
Ending balance (in shares) at May. 31, 2022	8,845,348
Treasury stock ending balance (in shares) at May. 31, 2022						39,975
Beginning balance at Feb. 28, 2022	$ 88,453			7,346,701	(7,193,214)	$ (42,454)	$ 199,486
Beginning balance (in shares) at Feb. 28, 2022	8,845,348
Treasury stock beginning balance (in shares) at Feb. 28, 2022						39,975	39,975
Net Loss							$ (338,373)
Ending balance at Nov. 30, 2022	$ 103,453			7,736,701	(7,531,587)	$ (42,454)	$ 266,113
Ending balance (in shares) at Nov. 30, 2022	10,345,348
Treasury stock ending balance (in shares) at Nov. 30, 2022						39,975	39,975
Beginning balance at May. 31, 2022	$ 88,453			7,346,701	(7,231,615)	$ (42,454)	$ 161,085
Beginning balance (in shares) at May. 31, 2022	8,845,348
Treasury stock beginning balance (in shares) at May. 31, 2022						39,975
Net Loss					(10,194)		(10,194)
Ending balance at Aug. 31, 2022	$ 88,453			7,346,701	(7,241,809)	$ (42,454)	150,891
Ending balance (in shares) at Aug. 31, 2022	8,845,348
Treasury stock ending balance (in shares) at Aug. 31, 2022						39,975
Common stock issued for services	$ 7,500			195,000			202,500
Common stock issued for services (in shares)	750,000
Common stock issued for director services	$ 7,500			195,000			202,500
Common stock issued for director services (in shares)	750,000
Net Loss					(289,778)		(289,778)
Ending balance at Nov. 30, 2022	$ 103,453			$ 7,736,701	$ (7,531,587)	$ (42,454)	$ 266,113
Ending balance (in shares) at Nov. 30, 2022	10,345,348
Treasury stock ending balance (in shares) at Nov. 30, 2022						39,975	39,975

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended				9 Months Ended
	Nov. 30, 2022	May 31, 2022	Nov. 30, 2021	May 31, 2021	Nov. 30, 2022	Nov. 30, 2021
Cash Flows from Operating Activities:
Net loss	$ (289,778)	$ (38,401)	$ (87,871)	$ (18,648)	$ (338,373)	$ (312,342)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on forgiveness of debt						(66,747)
Loss on conversion of debt - related party						127,480
Common stock granted for director fees					202,500	48,000
Common stock issued for services					67,500	150,480
Changes in operating assets and liabilities:
Accounts receivable						(5,000)
Prepaids					29,768	(3,236)
Accounts payable and accrued expenses					(8,438)	(44,286)
Net cash used in operating activities					(47,043)	(105,651)
Cash Flows from Financing Activities:
Increase in due to related parties						58,520
Loan payable						3,581
Repayment of loan payable						(3,581)
Cash proceeds from sale of common stock						240,000
Net cash provided by financing activities						298,520
Net change in cash					(47,043)	192,869
Cash, beginning of period		$ 180,756		$ 75	180,756	75
Cash, end of period	$ 133,713		$ 192,944		133,713	192,944
Supplemental disclosure of non-cash financing activity:
Related party loans converted to common stock						$ 31,870
Common stock issued for prepaid services					$ 135,000

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Nov. 30, 2022
ORGANIZATION AND DESCRIPTION OF BUSINESS
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS United States Basketball League, Inc. (“USBL”, ”the Company”) was incorporated in Delaware on May 29, 1984 as a wholly owned subsidiary of Meisenheimer Capital, Inc. (“MCI”) for the purpose of developing and managing a professional basketball league, the United States Basketball League (the “League”). Prior to the pending merger, USBL has primarily engaged in selling franchises and managing the League. From 1985 and up to the present time, USBL has sold a total of approximately forty active franchises (teams), a vast majority of which were terminated for non-payment of their respective franchise obligations. On April 7, 2021, through a series of Stock Purchase Agreements (the “Purchase Agreements”), the majority owners of the Company, Richard C. Meisenheimer, Daniel T. Meisenheimer, III, James Meisenheimer, Meisenheimer Capital, Inc. and Spectrum Associates, Inc. (the “Sellers”) sold 2,704,007 common shares which it held, to a new investor group. The Sellers also sold 1,105,644 of USBL’s preferred stock at a per share price of $.057 per share to EROP Enterprises, LLC. As a result of the sale of common and preferred stock by the Sellers, the Company experienced a change in control. World Equity Markets acted in the capacity of a broker/dealer for the Purchase Agreements and was issued 125,000 shares of common stock for its services, and Verde Capital was issued 150,000 shares for Consulting Services. Effective April 7, 2021, the Board of Directors accepted the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Effective April 7, 2021, Saeb Jannoun was appointed to fill the vacancy following the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Mr. Michael Pruitt also joined the Board. ​ On November 23, 2022, USBL entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies, Inc. (“Shorepower”) under which Shorepower will be merged with and into USBL subject to several closing conditions, including satisfactory completion of due diligence reviews by each party to the Merger Agreement, Shorepower providing USBL with the most recent two years of audited financial statements by a PCAOB auditor, USBL authorizing a new class of Series B preferred stock with each Series B preferred share having the voting power of 40 shares of USBL common stock, USBL completing a stock and warrant financing to have a minimum of $480,000 in cash at closing (the “USBL Pre-Merger Financing”) and USBL not having any debt or contingent liabilities of any kind at the time of the closing. ​ The transaction is expected to close in January 2023. ​ Shorepower is a transportation electrification infrastructure manufacturer of Electric Vehicle Supply Equipment (EVSE), Truck Stop Electrification (TSE) and electric standby Transport Refrigeration Unit (eTRU) station. They have 60 operational TSE facilities with over 1,800 individual electrified parking spaces in 31 states. Shorepower’s stations are EPA SmartWay-Verified and CARB-Verified. Shorepower is a New York limited liability company with headquarters in Hillsboro (Portland Area), Oregon and office in Detroit, Michigan metro area. Shorepower is a certified minority owned business enterprise (MBE). The Shorepower management team is comprised of a group of seasoned individuals with knowledge of technology, transportation and heavy-duty vehicles and nearly two decades working together. Combined, the team has managed over $16 million in government contracts and grant funds to deploy transportation electrification throughout the nation.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Nov. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended February 28, 2022, have been omitted. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill, Recently Issued Accounting Pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Nov. 30, 2022
GOING CONCERN
GOING CONCERN	NOTE 3 – GOING CONCERN The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has an accumulated deficit of $7,531,587, and few sources of revenue. Due to these conditions, it raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS During the three months ended November 30, 2022, the Company granted 500,000 shares of common stock to EROP for services per the terms of a consulting agreement. The shares were valued at $0.27, the closing stock price on the date of grant, for total non-cash expense of $135,000. The expense is being amortized over the three-month term of the service agreement with EROP. As of November 30, 2022, the Company recognized $45,000 of the expense. ​ During the three months ended November 30, 2022, the Company granted 500,000 shares of common stock to Thirty-05, LLC, a company owned by Saeb Jannoun, for officer and director services. The shares were valued at $0.27, the closing stock price on the date of grant, for total non-cash expense of $135,000. ​ During the three months ended November 30, 2022, the Company granted 250,000 shares of common stock to Michael Pruitt for director services. The shares were valued at $0.27, the closing stock price on the date of grant, for total non-cash expense of $67,500. ​

COMMON STOCK

COMMON STOCK	9 Months Ended
	Nov. 30, 2022
COMMON STOCK
COMMON STOCK	NOTE 5 – COMMON STOCK During the three months ended November 30, 2022, the Company granted 250,000 shares of common stock to Millennial Investments, LLC for consulting services per the terms of a consulting agreement. The shares were valued at $0.27 , the closing stock price on the date of grant, for total non-cash expense of $135,000 . The expense is being amortized over the three-month term of the service agreement. As of November 30, 2022, the Company recognized $22,500 of the expense.

PREFERRED STOCK

PREFERRED STOCK	9 Months Ended
	Nov. 30, 2022
PREFERRED STOCK
PREFERRED STOCK	NOTE 6 – PREFERRED STOCK On May 18, 2021, the Company increased its authorized shares of Preferred Stock from 2,000,000 to 10,000,000 shares. There are 1,105,644 shares designated as Series A preferred stock (“Series A”). Each share of the Series A has five votes, is entitled to a 2% cumulative annual dividend, and is convertible at any time into one share of common stock. As of November 30, 2022, there were no shares of Series A issued and outstanding As part of the contemplated merger, the Company plans to designate one million ( 1,000,000 ) of its 10,000,000 shares of authorized Preferred Stock as Series B Preferred. Each Series B preferred share will have the voting power of 40 shares of the Company’s common stock. The Series B Preferred will have no conversion feature.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Nov. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended February 28, 2022, have been omitted.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill,
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)			3 Months Ended
	Nov. 23, 2022 USD ($) state item facility shares	Apr. 07, 2021 $ / shares shares	Nov. 30, 2022 shares	Aug. 31, 2021 shares
Shorepower
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of operational TSE facilities | facility	60
Number of individual electrified parking spaces | item	1,800
Number of states in which operational TSE facilities located | state	31
Minimum value of government contracts | $	$ 16,000,000
EROP Enterprises, LLC
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued for services			500,000
Common Stock
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued for services			750,000	875,000
Purchase Agreements | World Equity Markets
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued for services		125,000
Purchase Agreements | Verde Capital
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued for services		150,000
Purchase Agreements | Series A Preferred Shares | EROP Enterprises, LLC
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued or sold		1,105,644
Price per share | $ / shares		$ 0.057
Purchase Agreements | Common Stock
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of shares issued or sold		2,704,007
Merger Agreement
ORGANIZATION AND DESCRIPTION OF BUSINESS
Minimum requirement of cash for stock and warrant financing | $	$ 480,000
Merger Agreement | Series B Preferred Shares
ORGANIZATION AND DESCRIPTION OF BUSINESS
Number of voting power shares of common stock per preferred share	40

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	Nov. 30, 2022	Feb. 28, 2022
GOING CONCERN
Accumulated deficit	$ 7,531,587	$ 7,193,214

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Nov. 30, 2022	Nov. 30, 2022	Nov. 30, 2021	Feb. 28, 2022
RELATED PARTY TRANSACTIONS
Total non-cash expense	$ 202,500	$ 202,500	$ 48,000
EROP Enterprises LLC [Member]
RELATED PARTY TRANSACTIONS
Common stock issued for services (in shares)	500,000
Closing stock price	$ 0.27	$ 0.27
Total non-cash expense	$ 135,000
Expense amortized period	3 months
Share-based payment arrangement, expense				$ 45,000
Thirty-05, LLC
RELATED PARTY TRANSACTIONS
Common stock issued for services (in shares)	500,000
Closing stock price	$ 0.27	0.27
Total non-cash expense	$ 135,000
Michael Pruitt
RELATED PARTY TRANSACTIONS
Common stock issued for services (in shares)	250,000
Closing stock price	$ 0.27	$ 0.27
Total non-cash expense	$ 67,500

COMMON STOCK (Details)

COMMON STOCK (Details) - USD ($)	3 Months Ended	9 Months Ended
	Nov. 30, 2022	Nov. 30, 2022	Nov. 30, 2021
COMMON STOCK
Non-cash expense		$ 67,500	$ 150,480
Millennial Investments | Consulting Services
COMMON STOCK
Expense amortized period		3 months
Share-based compensation expense		$ 22,500
Millennial Investments | Consulting Services | Common Stock
COMMON STOCK
Number of shares issued or sold	250,000
Closing stock price	$ 0.27	$ 0.27
Non-cash expense	$ 135,000

PREFERRED STOCK (Details)

PREFERRED STOCK (Details)	9 Months Ended	12 Months Ended
	Nov. 30, 2022 Vote shares	Feb. 28, 2022 shares	May 18, 2021 shares
PREFERRED STOCK
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Preferred Shares
PREFERRED STOCK
Number of votes for each share of preferred stock | Vote	5
Number of shares issued upon conversion	1
Cumulative annual dividend	2%
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, shares designated	1,105,644	1,105,644
Series B Preferred Shares
PREFERRED STOCK
Preferred stock, shares authorized	1,000,000
Preferred stock, shares designated	10,000,000
Common stock voting rights	40
Preferred Stock | Maximum
PREFERRED STOCK
Preferred stock, shares authorized			10,000,000
Preferred Stock | Minimum
PREFERRED STOCK
Preferred stock, shares authorized			2,000,000