Shorepower (SPEV) 10-Q 19 Oct 23 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 31, 2023	Oct. 09, 2023
Entity Addresses [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 31, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--02-29
Entity File Number	001-15913
Entity Registrant Name	SHOREPOWER TECHNOLOGIES INC.
Entity Central Index Key	0000764630
Entity Tax Identification Number	06-1120072
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	5291 NE Elam Young Pkwy
Entity Address, Address Line Two	Suite 160
Entity Address, City or Town	Hillsboro
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97124
City Area Code	(503)
Local Phone Number	892-7345
Title of 12(b) Security	Common Stock
Trading Symbol	SPEV
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		48,478,678
Former Address [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	United States Basketball League, Inc.
Entity Address, Address Line Two	8270 Woodland Center
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33614

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Current Assets:
Cash	$ 414,075	$ 114,851
Funds held in escrow		553,000
Accounts receivable	2,500
Prepaids	2,660	535
Inventory	14,269	6,880
Total Current Assets	433,504	675,266
Non-Current Assets:
Other asset	1,000	1,000
Total non-current assets	1,000	1,000
Total Assets	434,504	676,266
Current Liabilities:
Accounts payable and accrued expenses	48,654	106,394
Accrued officer compensation – related party	80,000	20,000
Accrued interest – related party	46,554
Total Current Liabilities	403,377	343,478
Total Liabilities	1,515,201	1,527,787
Stockholders’ Deficit:
Preferred stock value
Common stock, $0.01 par value, 100,000,000 shares authorized; 48,478,678 and 47,435,106 shares issued and outstanding, respectively	484,787	474,351
Additional paid-in capital	803,127	615,284
Accumulated deficit	(2,346,157)	(1,918,702)
Treasury stock, at cost; 39,975 shares of common stock	(42,454)	(42,454)
Total Stockholders’ Deficit	(1,080,697)	(851,521)
Total Liabilities and Stockholders’ Deficit	434,504	676,266
Series A Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value
Series B Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value	20,000	20,000
Related Party [Member]
Current Liabilities:
Note payable	116,774	105,689
Notes payable, net of current portion – related party	1,111,824	1,184,309
Nonrelated Party [Member]
Current Liabilities:
Note payable	$ 111,395	$ 111,395

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2023	Feb. 28, 2023
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	6,894,356	6,894,356
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	48,478,678	47,435,106
Common stock, shares outstanding	48,478,678	47,435,106
Treasury stock, share	39,975	39,975
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,105,644	1,105,644
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	2,000,000	2,000,000
Preferred stock, shares outstanding	2,000,000	2,000,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Total revenue	$ 2,532	$ 6,506	$ 11,716	$ 9,549
Cost of revenue	7,494	9,804	18,380	20,499
Gross margin	(6,077)	(3,298)	(6,664)	(10,950)
Operating Expenses:
Professional fees	216,114	7,418	230,249	12,074
General and administrative	9,732	10,757	64,043	22,789
Consulting	20,010		20,010
Officer compensation	30,000	31,200	60,000	62,400
Total operating expenses	275,856	49,375	374,302	97,263
Loss from Operations	(281,933)	(52,673)	(380,966)	(108,213)
Other Income (Expense):
Other income	25		65
Interest expense	(30,462)		(46,554)
Impairment of fixed asset				(46,063)
Total other expense	(30,437)		(46,489)	(46,063)
Net loss	$ (312,370)	$ (52,673)	$ (427,455)	$ (154,276)
Basic loss per common share	$ 0.04	$ 0.01	$ 0.01	$ 0.02
Diluted loss per common share	$ 0.04	$ 0.01	$ 0.01	$ 0.02
Weighted average number of common shares outstanding - basic	48,169,047	8,845,348	47,690,390	8,845,348
Weighted average number of common shares outstanding - diluted	48,169,047	8,845,348	47,690,390	8,845,348
Service [Member]
Total revenue	$ 2,532	$ 4,131	$ 3,807	$ 7,174
Product [Member]
Total revenue		$ 2,375	$ 7,909	$ 2,375

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member] Series B Preferred Stock [Member]	Preferred Stock [Member] Series A Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Shares To Be Issued [Member]	Treasury Stock, Common [Member]	Total
Balance at Feb. 28, 2022	$ 71,462		$ 11,057	$ (1,539,725)	$ (1,605,572)	$ 1,699,146	$ (42,454)	$ (1,406,086)
Balance, shares at Feb. 28, 2022	7,142,202		1,105,644				39,975
Net Loss					(101,603)			(101,603)
Conversion of preferred stock to common stock	$ 16,991		$ (11,057)	1,693,212		(1,699,146)
Conversion of preferred stock to common stock, shares	1,699,146		(1,105,644)
Balance at May. 31, 2022	$ 88,453			153,487	(1,707,175)		$ (42,454)	(1,507,689)
Balance, shares at May. 31, 2022	8,841,348						39,975
Balance at Feb. 28, 2022	$ 71,462		$ 11,057	(1,539,725)	(1,605,572)	1,699,146	$ (42,454)	(1,406,086)
Balance, shares at Feb. 28, 2022	7,142,202		1,105,644				39,975
Net Loss								(154,276)
Balance at Aug. 31, 2022	$ 88,453			153,487	(1,759,848)		$ (42,454)	(1,560,362)
Balance, shares at Aug. 31, 2022	8,841,348						39,975
Balance at May. 31, 2022	$ 88,453			153,487	(1,707,175)		$ (42,454)	(1,507,689)
Balance, shares at May. 31, 2022	8,841,348						39,975
Net Loss					(52,673)			(52,673)
Balance at Aug. 31, 2022	$ 88,453			153,487	(1,759,848)		$ (42,454)	(1,560,362)
Balance, shares at Aug. 31, 2022	8,841,348						39,975
Balance at Feb. 28, 2023	$ 474,351	$ 20,000		615,284	(1,918,702)		$ (42,454)	(851,521)
Balance, shares at Feb. 28, 2023	47,435,106	2,000,000					39,975
Net Loss					(115,085)			(115,085)
Balance at May. 31, 2023	$ 474,351	$ 20,000		615,284	(2,033,787)		$ (42,454)	(966,606)
Balance, shares at May. 31, 2023	47,435,106	2,000,000					39,975
Balance at Feb. 28, 2023	$ 474,351	$ 20,000		615,284	(1,918,702)		$ (42,454)	(851,521)
Balance, shares at Feb. 28, 2023	47,435,106	2,000,000					39,975
Net Loss								(427,455)
Balance at Aug. 31, 2023	$ 484,787	$ 20,000		803,127	(2,346,157)		$ (42,454)	(1,080,697)
Balance, shares at Aug. 31, 2023	48,478,678	2,000,000
Balance at May. 31, 2023	$ 474,351	$ 20,000		615,284	(2,033,787)		$ (42,454)	(966,606)
Balance, shares at May. 31, 2023	47,435,106	2,000,000					39,975
Net Loss					(312,370)			(312,370)
Common stock issued for services	$ 10,436			187,843				198,279
Common stock issued for services, shares	1,043,572
Balance at Aug. 31, 2023	$ 484,787	$ 20,000		$ 803,127	$ (2,346,157)		$ (42,454)	$ (1,080,697)
Balance, shares at Aug. 31, 2023	48,478,678	2,000,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (427,455)	$ (154,276)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment expense		46,063
Common stock issued for services	198,279
Changes in operating assets and liabilities:
Accounts receivable	(2,500)	(2,500)
Inventory	(7,389)	(1,763)
Prepaids	(2,125)	(5,404)
Accounts payable and accrued expenses	(57,740)	(68,197)
Accrued interest – related party	46,554
Accrued officer compensation	60,000	62,400
Net cash used in operating activities	(192,376)	(123,677)
Cash Flows from Investing Activities
Cash Flows from Financing Activities:
Repayment of related party loan	(61,400)	(7,500)
Net cash used in financing activities	(61,400)	(7,500)
Net change in cash	(253,776)	(131,177)
Cash, beginning of period	114,851	319,980
Funds held in escrow, beginning of period	553,000
Cash, end of period	414,075	188,803
Supplemental disclosures of cash flow information:
Interest paid
Income tax paid

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Shorepower Technologies Inc. (“SPEV” “Shorepower” “the Company”) (formerly ) 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 1,105,644 .057 World Equity Markets acted in the capacity of a broker/dealer for the Purchase Agreements and was issued 125,000 150,000 The Company’s Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies under which Shorepower was merged with and into SPEV (the “Merger”) was closed on March 22, 2023. Under the terms of the Merger Agreement, Jeff Kim, the prior CEO of Shurepower, LLC and the current CEO of the Company, now owns 26,089,758 11,000,000 660,000 2,000,000 (i) an additional 2.5% of the issued and outstanding SPEV Common Stock upon the completion of either (a) the conversion of 75 existing connection points to Level 2 or greater or the (b) installation of 75 new connection points to revenue producing stations in the first 12 months or some combination of the two yielding 75 units, (ii) an additional 2.5% of the of the issued and outstanding SPEV Common Stock upon (a) the application for $10M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii) an additional 2.5% of the issued and outstanding SPEV common stock outstanding upon the completion of acquisitions in the first 24 months generating no less than $3.0 million in gross revenues and (iv) an additional 500,000 shares of SPEV common stock upon acquiring or hiring the following key personnel in the first six months after the effective date of the merger: (a) three or more qualified Board members and (b) at least three of the following four individuals having the following qualifications: one sales/marketing person, one grant writer/Government relations person, one technician/maintenance person and one software programmer/engineer We accounted for the Merger transaction as a recapitalization resulting from the acquisition by a non-operating public company that is not a shell company (as defined in Rule 12b-2 under the Securities Exchange Act of 1934). This accounting treatment as a recapitalization is consistent with Commission guidance promulgated in staff speeches and the SEC Reporting Manual, Topic 12 on Reverse Acquisitions and Recapitalizations. As such, the transaction is outside the scope of FASB ASC 805. Specifically, the Merger transaction was treated as a reverse recapitalization in which the entity that issues securities (the legal acquirer) is determined to be the accounting acquiree, while the entity receiving securities (the legal acquiree) is the accounting acquirer. Under reverse merger accounting (i.e., recapitalization), historical financial statements of Shurepower, LLC ( the legal acquiree, accounting acquirer), are presented with one adjustment, which is to retroactively adjust the accounting acquirer’s legal capital to reflect the legal capital of the accounting acquiree. That adjustment is required to reflect the capital of the legal parent (the accounting acquiree). Comparative information presented in the consolidated financial statements also is retroactively adjusted to reflect the legal capital of the legal parent (accounting acquiree). As a result of the merger transaction the Company reduced its accumulated deficit and increased its additional paid in capital by approximately $ 5,872,000 Effective on the date of closing the merger, Saeb Jannoun and Michael D. Pruitt resigned as directors of the Company, and Mr. Jannoun resigned as the CEO. Jeff Kim was appointed as the sole officer and director. Effective June 20, 2023, the Company’s name was changed to Shorepower Technologies Inc and its ticker symbol to SPEV. The Company is a transportation electrification infrastructure manufacturer of Electric Vehicle Supply Equipment (EVSE), Truck Stop Electrification (TSE) and electric standby Transport Refrigeration Unit (eTRU) stations. They have 60 1,800 31 16

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Unaudited Interim Financial Information 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, 2023, have been omitted. The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). 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. Inventory Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The Company periodically assesses if any of the inventory has become obsolete or if the value has fallen below cost. When this occurs, the Company recognizes an expense for inventory write down. Total inventory at August 31, 2023 and February 28, 2023, was $ 14,269 6,880 Revenue Recognition The Company follows ASC 606, Revenue from Contracts with Customers Cost of Revenue Cost of revenues includes actual product cost, labor, if any, utilities and direct overheard, which is applied on a per unit basis. Accounts Receivable Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value when needed. As of August 31, 2023, management has determined that an allowance for doubtful accounts is not required as all amounts are considered to be collectible. 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	6 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 $ 2,346,157

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
LOAN PAYABLE	NOTE 4 LOAN PAYABLE As of August 31, 2023 and February 28, 2023, the Company has a loan payable to a third party of $ 111,395 111,395 respectively. The loan is non-interest bearing and due on demand.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Aug. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS On February 15, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $ 200,000 twenty years 6.58 1,500 144,444 185,000 On March 1, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $ 253,954 6.63 2,900 246,054 7,013 On December 31, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $ 1,237,600 6.42 14,000 400,000 837,600 22,544 On March 22, 2023, the Company entered into an executive employment agreement with its executive officer, Jeff Kim. Under the terms of his employment agreement, Mr. Kim’s annual base salary is $ 200,000 10,000 2,000 10,000 10,000 80,000 20,000

COMMON STOCK

COMMON STOCK	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
COMMON STOCK	NOTE 6 – COMMON STOCK On February 17, 2023, the Company sold 11,000,000 0.06 660,000 553,000 On August 30, 2023, the Company granted 1,043,572 0.19 198,279

PREFERRED STOCK

PREFERRED STOCK	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
PREFERRED STOCK	NOTE 7 – PREFERRED STOCK On May 18, 2021, the Company increased its authorized shares of Preferred Stock from 2,000,000 10,000,000 There are 1,105,644 2 convertible at any time into shares of common stock 1,105,644 1,699,146 1,699,146 As of August 31, 2023, there were no As part of the merger, the Company designated 2,000,000 10,000,000 Each Series B preferred share has voting power of 40 shares of the Company’s common stock The Series B preferred has no conversion feature As of August 31, 2023, there are 2,000,000

WARRANTS

WARRANTS	6 Months Ended
	Aug. 31, 2023
Warrants
WARRANTS	NOTE 8 – WARRANTS On February 17, 2023, the Company sold 11,000,000 0.06 660,000 0.25 The warrants are callable by the Company if its common stock trades at $0.75 for at least 20 trading days and at a volume of not less than 30,000 shares per day 524,737 In accordance to ASC 815-40, an equity-linked financial instrument can be classified in equity only if it (1) is indexed to the reporting entity’s own stock and (2) meets all other conditions for equity classification. The warrants are classified as equity instruments because a fixed amount of cash is exchanged for a fixed amount of equity. The fair value of the warrants was determined using the Black-Scholes option pricing model which requires the input of subjective assumptions, the expected life of the warrants, and the expected stock price volatility. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards. The assumptions used to determine the fair value of the Warrants as follows: SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS Year Ended Expected life (years) 2 Risk-free interest rate 4.78 % Expected volatility 224.92 % Dividend yield 0 % The expected life of the warrants was estimated using the “simplified method,” as the Company has no historical information to develop reasonable expectations about future exercise patterns for its warrant grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. The expected life of awards that vest immediately use the contractual maturity since they are vested when issued. For stock price volatility, the Company calculated its expected volatility based on the historical closing price of its common stock, par value $ 0.01 SCHEDULE OF WARRANT ACTIVITY Number of Weighted Average Exercise Price Weighted Remaining Intrinsic Outstanding, February 28, 2023 11,000,000 $ 0.25 2 Issued — $ — — Cancelled — $ — — Exercised — $ — — Outstanding, August 31, 2023 11,000,000 $ 0.25 1.47 $ 660,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Aug. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC 855-10 the Company has analyzed its operations subsequent to August 31, 2023, and to the date these unaudited financial statements were issued and has determined that it does not have any subsequent events to disclose in these unaudited financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information 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, 2023, have been omitted. The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
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.
Inventory	Inventory Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The Company periodically assesses if any of the inventory has become obsolete or if the value has fallen below cost. When this occurs, the Company recognizes an expense for inventory write down. Total inventory at August 31, 2023 and February 28, 2023, was $ 14,269 6,880
Revenue Recognition	Revenue Recognition The Company follows ASC 606, Revenue from Contracts with Customers
Cost of Revenue	Cost of Revenue Cost of revenues includes actual product cost, labor, if any, utilities and direct overheard, which is applied on a per unit basis.
Accounts Receivable	Accounts Receivable Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value when needed. As of August 31, 2023, management has determined that an allowance for doubtful accounts is not required as all amounts are considered to be collectible.
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.

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Aug. 31, 2023
Warrants
SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS	The assumptions used to determine the fair value of the Warrants as follows: SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS Year Ended Expected life (years) 2 Risk-free interest rate 4.78 % Expected volatility 224.92 % Dividend yield 0 %
SCHEDULE OF WARRANT ACTIVITY	SCHEDULE OF WARRANT ACTIVITY Number of Weighted Average Exercise Price Weighted Remaining Intrinsic Outstanding, February 28, 2023 11,000,000 $ 0.25 2 Issued — $ — — Cancelled — $ — — Exercised — $ — — Outstanding, August 31, 2023 11,000,000 $ 0.25 1.47 $ 660,000

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)				3 Months Ended	6 Months Ended
	Aug. 30, 2023 $ / shares shares	Feb. 17, 2023 USD ($) shares	Apr. 07, 2021 $ / shares shares	Aug. 31, 2023 USD ($) shares	Aug. 31, 2023 USD ($) Facility Item State shares
Share price | $ / shares	$ 0.19
Number of shares issued for services	1,043,572
Sale of stock number of shares issued in transaction		11,000,000
Proceeds from issuance of common stock | $		$ 660,000
Increase in additional paid in capital | $					$ 5,872,000
Government Grants | $				$ 16,000,000	$ 16,000,000
Shorepower [Member]
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
Chief Executive Officer [Member]
Milestones description					(i) an additional 2.5% of the issued and outstanding SPEV Common Stock upon the completion of either (a) the conversion of 75 existing connection points to Level 2 or greater or the (b) installation of 75 new connection points to revenue producing stations in the first 12 months or some combination of the two yielding 75 units, (ii) an additional 2.5% of the of the issued and outstanding SPEV Common Stock upon (a) the application for $10M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii) an additional 2.5% of the issued and outstanding SPEV common stock outstanding upon the completion of acquisitions in the first 24 months generating no less than $3.0 million in gross revenues and (iv) an additional 500,000 shares of SPEV common stock upon acquiring or hiring the following key personnel in the first six months after the effective date of the merger: (a) three or more qualified Board members and (b) at least three of the following four individuals having the following qualifications: one sales/marketing person, one grant writer/Government relations person, one technician/maintenance person and one software programmer/engineer
Series B Preferred Stock [Member] | Chief Executive Officer [Member]
Stock issued during period shares acquisitions, shares					2,000,000
Stock Purchase Agreements [Member] | World Equity Markets [Member]
Number of shares issued for services			125,000
Stock Purchase Agreements [Member] | Verde Capital [Member]
Number of shares issued for services			150,000
Stock Purchase Agreements [Member] | Erop Enterprises Llc [Member] | Series A Preferred Stock [Member]
Number of shares issued			1,105,644
Share price | $ / shares			$ 0.057
Common Stock [Member]
Number of shares issued for services				1,043,572
Common Stock [Member] | Chief Executive Officer [Member]
Number of shares issued for services					26,089,758
Sale of stock number of shares issued in transaction					11,000,000
Proceeds from issuance of common stock | $					$ 660,000
Common Stock [Member] | Stock Purchase Agreements [Member]
Number of shares issued			2,704,007

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Accounting Policies [Abstract]
Inventory	$ 14,269	$ 6,880

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 2,346,157	$ 1,918,702

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Third Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Loan payable	$ 111,395	$ 111,395

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)						6 Months Ended
	Apr. 01, 2023	Mar. 22, 2023	Dec. 31, 2022	Apr. 01, 2022	Feb. 15, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023	Mar. 01, 2022
Related Party Transaction [Line Items]
Repayment for related party						$ 61,400	$ 7,500
Jeff Kim [Member] | Executive Employment Agreement [Member]
Related Party Transaction [Line Items]
Monthly loan payment		$ 2,000
Due to related party		200,000
Repayment for related party		10,000
Related party payment threshold		10,000
Monthly salary		$ 10,000
Accrued compensation						80,000		$ 20,000
Promissory Note One [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued					$ 200,000
Promissory note term					20 years
Interest rate					6.58%
Monthly loan payment				$ 1,500
Promissory note balance						144,444		$ 185,000
Promissory Note Two [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued									$ 253,954
Interest rate									6.63%
Monthly loan payment	$ 2,900
Promissory note balance						246,054
Promissory note interest						7,013
Promissory Note Three [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued			$ 1,237,600
Interest rate			6.42%
Monthly loan payment	$ 14,000
Promissory note balance						837,600
Promissory note interest						$ 22,544
Promissory note forgiveness			$ 400,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)				3 Months Ended
	Aug. 30, 2023	Feb. 28, 2023	Feb. 17, 2023	Aug. 31, 2023
Equity [Abstract]
Sale of stock number of shares issued in transaction			11,000,000
Sale of stock, price per share			$ 0.06
Proceeds from issuance of common stock			$ 660,000
Legal and investor expenses		$ 553,000
Stock issued for investor related services, shares	1,043,572
Share price	$ 0.19
Stock issued for investor related services	$ 198,279			$ 198,279

PREFERRED STOCK (Details Narrat

PREFERRED STOCK (Details Narrative) - USD ($)		6 Months Ended
	Feb. 28, 2022	Aug. 31, 2023	Feb. 28, 2023	May 18, 2021	May 17, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized		6,894,356	6,894,356	10,000,000	2,000,000
Interest expense		$ 1,699,146
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Common Stock [Member]
Class of Stock [Line Items]
Converted shares of common stock	1,699,146
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		1,105,644	1,105,644
Preferred stock dividend rate		2%
Preferred stock, conversion basis, description		convertible at any time into shares of common stock
Converted shares	1,105,644
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		2,000,000	2,000,000
Preferred stock, conversion basis, description		The Series B preferred has no conversion feature
Preferred stock, shares issued		2,000,000	2,000,000
Preferred stock, shares outstanding		2,000,000	2,000,000
Preferred stock, voting rights		Each Series B preferred share has voting power of 40 shares of the Company’s common stock
Series B Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		10,000,000

SCHEDULE OF WARRANT OF FAIR VAL

SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS (Details) - Warrant [Member]	12 Months Ended
	Feb. 28, 2023
Expected life (years)	2 years
Risk-free interest rate	4.78%
Expected volatility	224.92%
Dividend yield	0%

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details) - Warrant [Member] - USD ($)	6 Months Ended	12 Months Ended
	Aug. 31, 2023	Feb. 28, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of warrants, Outstanding and exercisable, Beginning balance	11,000,000
Weighted Average Exercise Price Per Share, Outstanding and exercisable, Beginning balance	$ 0.25
Weighted average non remaining contractual life, warrants outstanding	1 year 5 months 19 days	2 years
Warrants granted, shares
Warrants granted weighted average exercise price
Warrants canceled, shares
Warrants canceled weighted average exercise price
Warrants exercised, shares
Warrants exercised, weighted average exercise price
Number of warrants, Outstanding and exercisable, Ending balance	11,000,000	11,000,000
Weighted Average Exercise Price Per Share, Outstanding and exercisable, Ending balance	$ 0.25	$ 0.25
Intrinsic value ending	$ 660,000

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)	Feb. 17, 2023	Aug. 31, 2023	Feb. 28, 2023
Warrants
Sale of stock number of shares issued in transaction	11,000,000
Sale of stock, price per share	$ 0.06
Proceeds from issuance of common stock	$ 660,000
Warrant exercise price	$ 0.25
Warrant revenue recognized description	The warrants are callable by the Company if its common stock trades at $0.75 for at least 20 trading days and at a volume of not less than 30,000 shares per day
Fair value adjustment of warrants	$ 524,737
Common stock par value		$ 0.01	$ 0.01