Document_and_Entity_Informatio
Document and Entity Information | 12 Months Ended |
Feb. 28, 2015 | |
Document Type | 20-F |
Amendment Flag | FALSE |
Document Period End Date | 28-Feb-15 |
Trading Symbol | lbix |
Entity Registrant Name | LEADING BRANDS INC |
Entity Central Index Key | 884247 |
Current Fiscal Year End Date | -26 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 2,900,542 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well Known Seasoned Issuer | No |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (CAD) | Feb. 28, 2015 | Feb. 28, 2014 |
Current | ||
Cash | 1,702,922 | 2,393,784 |
Accounts receivable | 303,132 | 499,337 |
Inventory | 1,316,626 | 586,513 |
Prepaid expenses and deposits | 289,583 | 173,841 |
Total Current Assets | 3,612,263 | 3,653,475 |
Property, plant and equipment | 9,099,246 | 9,334,800 |
Deferred tax assets | 2,043,603 | 2,152,567 |
Total Assets | 14,755,112 | 15,140,842 |
Current | ||
Accounts payable and accrued liabilities | 1,561,289 | 1,961,419 |
Current portion of long-term debt | 0 | 75,027 |
Total Current Liabilities | 1,561,289 | 2,036,446 |
Derivative Liability - non-employee stock options | 120,337 | 284,195 |
Total Liabilities | 1,681,626 | 2,320,641 |
Shareholders' Equity | ||
Share Capital Authorized 500,000,000 common shares without par value 20,000,000 preferred shares without par value Issued 2,900,542 common shares (2014 - 2,912,997) | 32,401,440 | 32,713,370 |
Additional paid-in capital | 18,591,391 | 18,361,758 |
Accumulated other comprehensive income - currency translation adjustment | 577,916 | 577,916 |
Accumulated deficit | -38,497,261 | -38,832,843 |
Total Stockholders Equity | 13,073,486 | 12,820,201 |
Total Liabilities and Shareholders' Equity | 14,755,112 | 15,140,842 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (CAD) | Feb. 28, 2015 | Feb. 28, 2014 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, No Par Value | ||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, No Par Value | ||
Common Stock, Shares, Issued | 2,900,542 | 2,912,997 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (CAD) | 12 Months Ended | ||
Feb. 28, 2015 | Feb. 28, 2014 | Feb. 28, 2013 | |
Gross Sales | 13,862,437 | 15,952,929 | 18,365,871 |
Less: Discounts, rebates and slotting fees | -489,473 | -639,461 | -1,125,529 |
Net Sales | 13,372,964 | 15,313,468 | 17,240,342 |
Expenses (income) | |||
Cost of sales (excluding depreciation shown separately below) | 7,912,307 | 8,408,558 | 10,832,783 |
Selling, general and administrative | 4,475,079 | 4,682,576 | 4,740,375 |
Depreciation of property, plant and equipment | 723,610 | 753,210 | 681,045 |
Interest | 1,355 | 9,474 | 18,165 |
Foreign exchange loss | 14,220 | 6,560 | 593 |
Interest income | -11,965 | -7,012 | -2,908 |
Change in derivative liability | -196,428 | 39,304 | -18,252 |
Loss on disposal of assets | 10,239 | 2,095 | 90,585 |
Operating Expenses | 12,928,417 | 13,894,765 | 16,342,386 |
Income before income tax | 444,547 | 1,418,703 | 897,956 |
Income tax provision | 108,965 | 255,408 | 306,652 |
Net and Comprehensive income | 335,582 | 1,163,295 | 591,304 |
Earnings per share | |||
Basic | 0.11 | 0.4 | 0.2 |
Diluted | 0.04 | 0.37 | 0.17 |
Weighted average common shares outstanding | |||
Basic | 2,922,684 | 2,929,722 | 3,012,647 |
Diluted | 3,192,963 | 3,246,223 | 3,314,762 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (CAD) | 12 Months Ended | ||
Feb. 28, 2015 | Feb. 28, 2014 | Feb. 28, 2013 | |
Cash provided by (used in) Operating activities | |||
Net income | 335,582 | 1,163,295 | 591,304 |
Items not involving cash | |||
Depreciation of property, plant and equipment | 723,610 | 753,210 | 681,045 |
Amortization of leasehold inducement | 0 | 0 | -24,491 |
Loss on disposal of assets | 10,239 | 2,095 | 90,585 |
Stock based compensation | 48,806 | 54,471 | 151,916 |
Change in derivative liability | -196,428 | 39,304 | -18,252 |
Deferred income tax provision | 108,964 | 255,408 | 306,652 |
Changes in non-cash operating working capital | |||
Accounts receivable, net | 196,205 | 255,067 | -32,017 |
Inventory, net | -730,113 | 493,077 | 202,063 |
Prepaid expenses and other assets | -115,742 | 133,316 | -56,251 |
Accounts payable | -400,130 | 40,394 | 65,206 |
Net Cash Provided by (Used in) Operating Activities | -19,007 | 3,189,637 | 1,957,760 |
Investing activities | |||
Purchase of property, plant and equipment | -525,182 | -565,015 | -1,496,572 |
Proceeds on disposal of assets | 26,887 | 0 | 21,955 |
Net Cash Provided by (Used in) Investing Activities | -498,295 | -565,015 | -1,474,617 |
Financing activities | |||
Repurchase of common shares | -175,094 | -224,992 | -1,544,342 |
Proceeds from issuance of common shares | 76,561 | 84,596 | 59,553 |
Repayment of long-term debt | -75,027 | -143,347 | -134,852 |
Net Cash Provided by (Used in) Financing Activities | -173,560 | -283,743 | -1,619,641 |
Increase (Decrease) in cash and cash equivalents | -690,862 | 2,340,879 | -1,136,498 |
Effect of exchange rates on cash | 0 | -447 | 311 |
Cash and cash equivalents, beginning of year | 2,393,784 | 53,352 | 1,189,539 |
Cash and cash equivalents, end of year | 1,702,922 | 2,393,784 | 53,352 |
Supplementary disclosure of cash flow Information Cash paid (received) during the year | |||
Interest received | -11,965 | -7,012 | -2,098 |
Interest paid | 1,346 | 9,474 | 18,165 |
Income taxes | 0 | 0 | 0 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders Equity (CAD) | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-In Capital [Member] | AOCI [Member] | Accum. Deficit [Member] | Total |
Beginning Balance at Feb. 29, 2012 | 36,678,050 | 15,815,876 | 577,916 | -40,587,442 | 12,484,400 | |
Beginning Balance (Shares) at Feb. 29, 2012 | 3,236,668 | |||||
Net income | 591,304 | 591,304 | ||||
Exercise of stock options | 112,449 | -52,896 | 59,553 | |||
Exercise of stock options (Shares) | 20,000 | |||||
Shares repurchased under provisions of the share repurchase plan | -3,694,332 | 2,149,990 | -1,544,342 | |||
Shares cancelled | -3,694,332 | 3,694,332 | ||||
Shares cancelled (Shares) | -326,187 | |||||
Stock based compensation expense | 151,916 | 151,916 | ||||
Ending Balance at Feb. 28, 2013 | 33,096,167 | 18,064,886 | 577,916 | -39,996,138 | 11,742,831 | |
Ending Balance (Shares) at Feb. 28, 2013 | 2,930,481 | |||||
Net income | 1,163,295 | 1,163,295 | ||||
Exercise of stock options | 160,158 | -75,562 | 84,596 | |||
Exercise of stock options (Shares) | 30,864 | |||||
Shares repurchased under provisions of the share repurchase plan | -542,955 | 317,963 | -224,992 | |||
Shares cancelled | -542,955 | 542,955 | ||||
Shares cancelled (Shares) | -48,348 | |||||
Stock based compensation expense | 54,471 | 54,471 | ||||
Ending Balance at Feb. 28, 2014 | 32,713,370 | 18,361,758 | 577,916 | -38,832,843 | 12,820,201 | |
Ending Balance (Shares) at Feb. 28, 2014 | 2,912,997 | |||||
Net income | 335,582 | 335,582 | ||||
Exercise of stock options | 146,199 | -69,638 | 76,561 | |||
Exercise of stock options (Shares) | 28,553 | |||||
Shares repurchased under provisions of the share repurchase plan | -458,129 | 283,035 | -175,094 | |||
Shares cancelled | -458,129 | 458,129 | ||||
Shares cancelled (Shares) | -41,008 | |||||
Stock based compensation expense | 16,236 | 16,236 | ||||
Ending Balance at Feb. 28, 2015 | 32,401,440 | 18,591,391 | 577,916 | -38,497,261 | 13,073,486 | |
Ending Balance (Shares) at Feb. 28, 2015 | 2,900,542 |
Operations_and_Summary_of_Sign
Operations and Summary of Significant Accounting Principles | 12 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Operations and Summary of Significant Accounting Principles [Text Block] | 1 | Operations and Summary of Significant Accounting Principles | |||||||||||
Nature of | Leading Brands, Inc. (the “Company”) and its subsidiaries are involved in the development, production, marketing and distribution of the Company’s branded beverage brands and bottling for third parties. | ||||||||||||
Operations | |||||||||||||
The Company sells branded beverage products through its Integrated Distribution System (IDS) of distributors, wholesalers, and grocery chains. Its principal product lines include waters, juices and other premium beverages. The bottling plant provides bottling services for certain of the Company’s own products and for an external customer. The Company also uses the services of third party bottlers as required to meet its objectives. | |||||||||||||
Basis of | The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. | ||||||||||||
Presentation | |||||||||||||
Use of | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. | ||||||||||||
Estimates | |||||||||||||
On an ongoing basis, the Company evaluates its estimates, including those related to inventories, trade receivables, useful lives of property, plant and equipment, income taxes, and stock-based compensation, among others. The reported amounts and note disclosure are determined using management’s best estimates based on assumptions that reflect the most probable set of economic conditions and planned course of action. Actual results could differ from those estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. | |||||||||||||
Foreign Currency | The Company’s functional and reporting currency is the Canadian dollar. Foreign-currency denominated transactions are translated at the rate of exchange prevailing at the time of the transaction. Monetary assets and liabilities have been translated into Canadian dollars at the year-end exchange rate. All such exchange gains and losses are included in the determination of income. | ||||||||||||
Translation | |||||||||||||
Cash and Cash | Amounts recognized as cash and cash equivalents include investments of surplus cash in highly liquid securities with maturities at date of purchase of three months or less. | ||||||||||||
Equivalents | |||||||||||||
Accounts | Accounts receivable invoices are recorded when the products are delivered and title transfers to customers or when bottling services are performed and collection of related receivables is reasonably assured. Allowances for doubtful accounts are based primarily on historical write-off experience. Account balances that are deemed uncollectible are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Allowances for doubtful accounts of $36,329 and $51,579 as of February 28, 2015 and February 28, 2014, respectively, are netted against accounts receivable. | ||||||||||||
Receivable | |||||||||||||
Allowances for Doubtful Accounts | 2015 | 2014 | 2013 | ||||||||||
Balance at beginning of year | $ | 51,579 | $ | 124,672 | $ | 43,353 | |||||||
Bad debt provision | - | - | 95,838 | ||||||||||
Write-off of receivables | (15,250 | ) | (73,093 | ) | (14,519 | ) | |||||||
Balance at end of year | $ | 36,329 | $ | 51,579 | $ | 124,672 | |||||||
Inventory | Raw materials and finished goods purchased for resale are valued at the lower of cost, determined on a first-in, first-out basis, and market value. Finished goods, produced from manufacturing operations, are valued at the lower of standard cost which approximates average cost of raw materials, direct labour and overhead and market value. The provisions for obsolete or excess inventory are based on estimated forecasted usage of inventories. A significant change in demand for certain products as compared to forecasted amounts may result in recording additional provisions for obsolete inventory. Provisions for obsolete or excess inventory are recorded as cost of goods sold. | ||||||||||||
Property, plant | Property, plant and equipment are recorded at cost and are amortized using the declining-balance method at annual rates as follows: | ||||||||||||
and equipment | |||||||||||||
Plant and equipment | 7% - 20% | ||||||||||||
Buildings | 5% | ||||||||||||
Automotive equipment | 20% | ||||||||||||
Land improvements | 8% | ||||||||||||
Furniture, fixtures, computer hardware and software | 20% | ||||||||||||
Leasehold improvements are amortized over the lesser of their expected life or the lease term. | |||||||||||||
Management reviews property, plant and equipment for impairment when conditions exist that indicate the carrying amount of the assets may not be fully recoverable. If required an undiscounted operating cash flow analysis is completed to determine if impairment exists. When testing for impairment of assets held for use, assets and liabilities are grouped at the lowest level for which cash flows are separately identifiable. If impairment is determined to exist, the loss is calculated based on estimated fair value. | |||||||||||||
Leases | Leases are classified as either capital or operating in nature. Capital leases are those which substantially transfer the benefits and risks of ownership to the lessee. Obligations recorded under capital leases are reduced by the principal portion of lease payments. The imputed interest portion of the lease payment is charged to expense. | ||||||||||||
Revenue | Revenue on sales of products is recognized when the products are delivered and title transfers to customers. Revenues from the provision of manufacturing, packaging or other services are recognized when the services are performed and collection of related receivables is reasonably assured. The Company records shipping and handling revenue as a component of sales revenue, and shipping and handling costs are included in the cost of sales. | ||||||||||||
Recognition | |||||||||||||
Incentives offered to customers including rebates, cash discounts, volume discounts, and slotting fees are recorded as a reduction of net sales when sales are recognized. | |||||||||||||
Advertising Costs | Advertising costs, which also include samples, trade show, product demo, media promotion costs are expensed as incurred. During the years ended February 28 2015, February 28, 2014 and February 28, 2013, the Company incurred advertising costs of $553,187, $509,433 and $646,915, respectively. | ||||||||||||
Earnings (loss) | Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted EPS gives effect to all dilutive potential common shares outstanding during the year including stock options and warrants using the treasury stock method. In computing diluted EPS, the average stock price for the year is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. | ||||||||||||
per common | |||||||||||||
share | |||||||||||||
Stock-Based | Compensation costs are charged to the Consolidated Statements of Comprehensive Income. Compensation costs for employees are amortized over the period from the grant date to the date the options vest. Compensation expense for non-employees is recognized over the vesting period. Compensation for non- employees is re-measured at each balance sheet date until the earlier of the vesting date or the date of completion of the service. Upon exercise of stock options, the consideration paid by the option holder, together with the amount previously recognized in additional paid-in capital, is recorded as an increase to share capital. | ||||||||||||
Compensation | |||||||||||||
The Company uses the Black-Scholes option valuation model to calculate the fair value of stock options at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. | |||||||||||||
Changes in fair value of options granted to non-employees that are accounted for as liabilities are recognized as stock compensation until fully vested, and after that time as change in fair value. | |||||||||||||
Income Tax | Deferred income tax assets and liabilities are computed based on differences between the carrying amount of assets and liabilities on the balance sheet and their corresponding tax values using the enacted income tax rates by tax jurisdiction when these differences are expected to be realized. Deferred income tax assets also result from unused loss carry-forwards and other deductions. The valuation of deferred income tax assets is reviewed annually and adjusted, if necessary, by use of a valuation allowance to reflect the estimated realizable amount. Significant management judgement is required in determining the provision for income taxes, the deferred income tax assets and liabilities and any valuation allowance recorded against the net future income tax assets. Management evaluates all available evidence, such as recent and expected future operating results by tax jurisdiction, and current and enacted tax legislation and other temporary differences between book and tax accounting to determine whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. Management has determined certain of these deferred tax assets do not meet the more likely than not criteria, and accordingly, these deferred income tax asset amounts have been partially offset by a valuation allowance (Note 10). No reserves for an uncertain tax position have been recorded for the years ended February 28, 2015 or February 28, 2014. | ||||||||||||
Comprehensive | Comprehensive income includes both net earnings and other comprehensive income which are presented in a single continuous statement. | ||||||||||||
Income | |||||||||||||
Fair Value | The book value of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities approximate their fair values due to the immediate or short-term maturity of those instruments. Based on borrowing rates currently available to the Company under similar terms, the book value of long term debt and capital lease obligations approximate their fair values. The fair value hierarchy under US GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: | ||||||||||||
Measurements | |||||||||||||
Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; | |||||||||||||
Level 2 - observable inputs other than Level I, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and | |||||||||||||
Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||
The Company had certain financial liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP. As at February 28, 2015 and February 28, 2014, the derivative liability on non-employee stock options is a financial liability classified for Level 3 fair value measurement. See Note 14 for more information. | |||||||||||||
Recent | In April 2014, the Financial Accounting Standards Board (the “FASB”) amended the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The provisions of the new guidance were effective prospectively as of the beginning of the fiscal years ended after December 15, 2014. The adoption of this guidance had no impact on our financial statements. | ||||||||||||
Accounting | |||||||||||||
Pronouncements | |||||||||||||
In July 2013, the FASB issued guidance on the presentation of unrecognized tax benefits which better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carry forwards, similar tax losses, or tax credit carry forwards exist. The provisions of the new guidance were effective prospectively as of the beginning of the fiscal years ended after December 15, 2014. The adoption of this guidance did not have a material impact on our financial statements | |||||||||||||
In May 2014, the Financial Accounting Standard Board, or FASB, issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: Topic 606 (ASU 2014-09). To supersede existing revenue recognition guidance under generally accepted accounting principles in the United States, or GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five steps process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the fiscal and interim reporting periods beginning after December 15, 2016 using either of two methods: (i) retrospective to each prior reporting period presented within the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU 2014-09. We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our financial statements. | |||||||||||||
In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern: Topic 915 (ASU 2014-15) Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which states that in connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). ASU 2014-15 is effective for fiscal and interim reporting periods ending after December 15, 2016. The Company is currently evaluating the impact of this new guidance on our financial statements. |
Inventory
Inventory | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Inventory [Text Block] | 2 | Inventory | |||||||||
2015 | 2014 | ||||||||||
Finished goods, net | $ | 410,193 | $ | 219,842 | |||||||
Raw materials | 906,433 | 366,671 | |||||||||
$ | 1,316,626 | $ | 586,513 | ||||||||
The ending balance above includes a total inventory obsolescence provision of $114,744 as at February 28, 2015 (2014 - $100,058). | |||||||||||
Inventory Obsolescence Provision | 2015 | 2014 | 2013 | ||||||||
Balance at beginning of year | $ | 100,058 | $ | 129,106 | $ | 115,413 | |||||
Obsolescence provision | 45,000 | 156,000 | 242,717 | ||||||||
Write-off of inventory | (30,314 | ) | (185,048 | ) | (229,024 | ) | |||||
Balance at end of year | $ | 114,744 | $ | 100,058 | $ | 129,106 |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Property, Plant and Equipment [Text Block] | 3 | Property, Plant and Equipment | |||||||||
2015 | |||||||||||
Accumulated | |||||||||||
Cost | Depreciation | Net | |||||||||
Plant and equipment | $ | 16,309,134 | $ | 9,234,551 | $ | 7,074,583 | |||||
Buildings | 1,950,446 | 1,273,546 | 676,900 | ||||||||
Automotive equipment | 286,252 | 126,751 | 159,501 | ||||||||
Land | 433,613 | - | 433,613 | ||||||||
Land improvements | 1,861 | 1,324 | 537 | ||||||||
Leasehold improvements | 695,182 | 291,317 | 403,865 | ||||||||
Furniture and fixtures | 687,260 | 594,929 | 92,331 | ||||||||
Computer hardware and software | 2,324,461 | 2,066,545 | 257,916 | ||||||||
$ | 22,688,209 | $ | 13,588,963 | $ | 9,099,246 | ||||||
2014 | |||||||||||
Accumulated | |||||||||||
Cost | Depreciation | Net | |||||||||
Plant and equipment | $ | 15,917,608 | $ | 8,739,219 | $ | 7,178,389 | |||||
Buildings | 1,931,944 | 1,238,488 | 693,456 | ||||||||
Automotive equipment | 286,252 | 86,857 | 199,395 | ||||||||
Land | 433,613 | - | 433,613 | ||||||||
Land improvements | 1,861 | 1,277 | 584 | ||||||||
Leasehold improvements | 695,182 | 237,054 | 458,128 | ||||||||
Furniture and fixtures | 681,926 | 573,822 | 108,104 | ||||||||
Computer hardware and software | 2,277,183 | 2,014,052 | 263,131 | ||||||||
$ | 22,225,569 | $ | 12,890,769 | $ | 9,334,800 | ||||||
Property, plant and equipment includes equipment acquired under capital leases with an initial cost of $2,687,820 (2014 - $2,687,820). Accumulated amortization of assets acquired under capital leases is $1,143,534 (2014 - $1,027,297). No impairment of property, plant, and equipment was recognized in the year ended February 28, 2015 (2014 - nil). |
Prepaid_Expenses_and_Deposits
Prepaid Expenses and Deposits | 12 Months Ended | |||||||
Feb. 28, 2015 | ||||||||
Prepaid Expenses and Deposits [Text Block] | 4 | Prepaid Expenses and Deposits | ||||||
2015 | 2014 | |||||||
Slotting fees | $ | 53,208 | $ | 9,508 | ||||
Insurance premiums | 79,877 | 72,433 | ||||||
Rental deposits and other | 156,498 | 91,900 | ||||||
$ | 289,583 | $ | 173,841 |
Longterm_Debt
Long-term Debt | 12 Months Ended | |||||||||
Feb. 28, 2015 | ||||||||||
Long-term Debt [Text Block] | 5 | Long-term Debt | ||||||||
2015 | 2014 | |||||||||
a) | The Company’s capital lease was fully repaid in September, 2014. The capital lease had principal and interest repayable at $12,729 per month including interest at a seven-year fixed rate of 6.125% per annum, collateralized over certain pieces of manufacturing equipment. | $ | - | $ | 75,027 | |||||
- | 75,027 | |||||||||
Less: current portion | - | 75,027 | ||||||||
$ | - | $ | - | |||||||
b) | The Company has an on demand revolving operating bank loan with a credit limit of $3,500,000 (2014 - $3,500,000) subject to the availability of eligible collateral. As at February 28, 2015, $613,400 (2014 - $329,900) of the facility was available, due to a limit on eligible collateral available. Interest is charged on the drawn-down amounts at the bank prime rate plus 1.00% to 1.50% (2014 - 1.00% to 1.50%). The operating loan is collateralized by a charge on all assets of the Company and an assignment of all risk insurance on land, buildings, equipment and inventory owned by the Company. The credit facility contains four financial covenants. The bank loan is subject to an annual review process. |
Lease_Inducement
Lease Inducement | 12 Months Ended | |
Feb. 28, 2015 | ||
Lease Inducement [Text Block] | 6 | Lease Inducement |
In the 2009 fiscal year, the Company received a lease inducement of $115,016 worth of leasehold improvements as an incentive to enter into a 5 -year lease term for the Vancouver offices. This amount was amortized over the remainder of the lease term. The amortization for the fiscal year ended February 28, 2015 was $Nil (2014 - $Nil, 2013 - $24,491) with a corresponding credit to rental expense under the category of selling, general and administrative expenses. |
Shareholders_Equity
Shareholders Equity | 12 Months Ended | ||||||||||||||||
Feb. 28, 2015 | |||||||||||||||||
Shareholders Equity [Text Block] | 7 | Shareholders’ Equity | |||||||||||||||
a) | Share capital | Number of Authorized Shares | |||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||
Common shares without par value | 500,000,000 | 500,000,000 | 500,000,000 | ||||||||||||||
Preferred shares without par value | 9,999,900 | 9,999,900 | 9,999,900 | ||||||||||||||
Series “A” preferred shares | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||
Series “B” preferred shares | 100 | 100 | 100 | ||||||||||||||
Series “C” preferred shares | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||
Series “D” preferred shares | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||
Series “E” preferred shares | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||
20,000,000 | 20,000,000 | 20,000,000 | |||||||||||||||
There are no preferred shares outstanding as at February 28, 2015 (2014 - nil; 2013 - nil). | |||||||||||||||||
In the year ended February 28, 2015, the Company repurchased and cancelled 41,008 of its issued and outstanding shares in the amount of $175,094. Since the average issue price of cancelled common shares at the time of repurchase was $11.17, share capital has been reduced by $458,129 and additional paid-in capital has been increased by $283,035. | |||||||||||||||||
In the year ended February 28, 2014, the Company repurchased and cancelled 48,348 of its issued and outstanding shares in the amount of $224,992. Since the average issue price of cancelled common shares at the time of repurchase was $11.23, share capital has been reduced by $542,955 and additional paid-in capital has been increased by $317,963. | |||||||||||||||||
In the year ended February 28, 2013, the Company repurchased and cancelled 326,187 of its issued and outstanding shares in the amount of $1,544,342. Since the average issue price of cancelled common shares at the time of repurchase was $11.34, share capital has been reduced by $3,694,332 and additional paid-in capital has been increased by $2,149,990. | |||||||||||||||||
b) | Shareholder protection rights plan | ||||||||||||||||
On August 26, 2003, a Shareholder Protection Rights Plan was adopted whereby one share purchase right is attached to each outstanding common share, exercisable only in the case of a specific event, such as the acquisition by an acquirer of 20% or more of the issued common shares of the Company, and at a predetermined calculated price. At the Annual General Meeting on June 30, 2010, shareholders approved the updating and five- year extension of the Company’s Shareholder Protection Rights Plan to 2015. At the Annual General Meeting in June 2015, shareholders will be asked to approve an updated and five-year extension of the Company’s Shareholder Protection Rights Plan to 2020. | |||||||||||||||||
c) | Stock options | ||||||||||||||||
The Company occasionally grants stock options to its employees, officers, directors and consultants to purchase common shares of the Company. The options granted are exercisable at a price which is equal to or greater than the fair market value of the common shares at the date the options are granted. The options are granted with varied vesting periods including immediately, one and five years. Options granted generally have a life of 10 years. The Company does not have a formal stock option plan. | |||||||||||||||||
At February 28, 2015, stock options were outstanding and exercisable as follows: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | Weighted | Weighted | |||||||||||||||
Number of | Remaining | Average | Number of | Average | |||||||||||||
Range of | Options | Contractual | Exercise | Options | Exercise | ||||||||||||
Exercise Prices | Outstanding | Life (Years) | Price (USD) | Exercisable | Price (USD) | ||||||||||||
$2.45 to $2.99 | 642,000 | 5.09 | 2.45 | 642,000 | 2.45 | ||||||||||||
$3.00 to $3.99 | 167,000 | 3.63 | 3.19 | 167,000 | 3.19 | ||||||||||||
$4.00 to $5.99 | 1,767 | 0.88 | 5.35 | 1,767 | 5.35 | ||||||||||||
$6.00 to $24.65 | 46,000 | 2.81 | 9.47 | 46,000 | 9.47 | ||||||||||||
856,767 | 856,767 | ||||||||||||||||
A summary of the Company’s stock option activity is as follows: | |||||||||||||||||
Weighted Average | |||||||||||||||||
Outstanding | Exercise Price | ||||||||||||||||
Options | (USD) | ||||||||||||||||
Options outstanding as at February 29, 2012 | 976,433 | 3.05 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | (2,000 | ) | 6.2 | ||||||||||||||
Exercised | (20,000 | ) | 3 | ||||||||||||||
Options outstanding as at February 28, 2013 | 954,433 | 3.04 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Exercised | (30,864 | ) | 2.64 | ||||||||||||||
Options outstanding as at February 28, 2014 | 923,569 | 3.06 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | (36,249 | ) | 5.12 | ||||||||||||||
Exercised | (28,553 | ) | 2.52 | ||||||||||||||
Cancelled | (2,000 | ) | 6.2 | ||||||||||||||
Options exercisable, February 28, 2015 | 856,767 | 2.98 | |||||||||||||||
Options vested and expected to vest | 856,767 | 2.98 | |||||||||||||||
The aggregate intrinsic value of stock options exercised during the year ended February 28, 2015 was $45,158 USD (2014 - $38,372, 2013 - $22,200). | |||||||||||||||||
The aggregate intrinsic value of stock options outstanding as at February 28, 2015 was $606,060 USD (2014 - $1,197,000, 2013 - $945,640). | |||||||||||||||||
The aggregate intrinsic value of stock options exercisable as at February 28, 2015 was $606,060 USD (2014 - $1,193,000, 2013 - $936,711). | |||||||||||||||||
A summary of the Company’s non-vested stock option activity and related information for the year ended February 28, 2015 is as follows: | |||||||||||||||||
Weighted Average | |||||||||||||||||
Exercise | |||||||||||||||||
Outstanding Options | Price (USD) | ||||||||||||||||
Non-vested at March 1, 2014 | 7,510 | 3.5 | |||||||||||||||
Granted | - | - | |||||||||||||||
Vested | 7,510 | 3.5 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Non-vested at February 28, 2015 | - | - | |||||||||||||||
As of February 28, 2015, there was $Nil of total unrecognized compensation cost related to non-vested stock options. | |||||||||||||||||
d) | Warrants | ||||||||||||||||
A summary of the Company’s warrant activity and related information for the year ended February 28, 2015 is as follows: | |||||||||||||||||
Weighted Average | |||||||||||||||||
Outstanding | Exercise | ||||||||||||||||
Warrants | Price (USD) | ||||||||||||||||
Warrants outstanding February 28, 2014, 2013 | - | - | |||||||||||||||
Granted (notes 8 and 9) (1) | 25,000 | 3.4 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Warrants outstanding at February 28, 2015 | 25,000 | 3.4 | |||||||||||||||
-1 | The warrants are exercisable until January 26, 2018 | ||||||||||||||||
e) | Earnings per common share | ||||||||||||||||
For the years ended February 28, 2015, February 28, 2014, and February 28, 2013, common equivalent shares (consisting of shares issuable on exercise of stock options and warrants) totaling 72,767, 83,600, and 473,833 respectively, were not included in the computation of diluted earnings per share because the effect was anti-dilutive. | |||||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||
Weighted average shares – Basic EPS | 2,922,684 | 2,929,722 | 3,012,647 | ||||||||||||||
Plus: incremental shares from assumed exercise of stock options | 270,279 | 316,501 | 302,115 | ||||||||||||||
Weight average shares – diluted EPS | 3,192,963 | 3,246,223 | 3,314,762 | ||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||
Net income | 335,582 | 1,163,295 | 591,304 | ||||||||||||||
(Gain)/Loss from change in fair value | (196,428 | ) | 39,304 | (18,252 | ) | ||||||||||||
of dilutive stock options | |||||||||||||||||
Adjusted net Income | 139,154 | 1,202,599 | 573,052 | ||||||||||||||
Earnings per share, basic | $ | 0.11 | $ | 0.4 | $ | 0.2 | |||||||||||
Earnings per share, diluted | $ | 0.04 | $ | 0.37 | $ | 0.17 |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |
Feb. 28, 2015 | ||
Stock-Based Compensation [Text Block] | 8 | Stock-Based Compensation |
There were no options granted during the years ended February 28, 2015, February 28, 2014, and February 28, 2013. | ||
On January 26, 2015 the Company entered into a consulting agreement where the Company is committed to issue 25,000 warrants, with an exercise price of US$3.40 and an expiry date of January 26, 2018. The warrants had a grant date fair value of $32,570 (note 9). As at February 28, 2015, the warrants had been earned, and are included in the outstanding warrants table in note 7(d). | ||
In connection with the vesting of certain employees’, officers’ and directors’ stock options, and warrants for the year ended February 28, 2015, the Company has recorded stock option compensation of $16,236 (2014 - $54,471 ; 2013 - $151,916) which was credited to additional paid-in capital and expensed in selling, general and administrative expenses, and for warrants $32,570 credited to derivative liability and expensed in selling, general and administrative expenses. |
Derivative_Liability
Derivative Liability | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Derivative Liability [Text Block] | 9 | Derivative Liability | |||||||||
In accordance with ASC 815-40-15, stock options and warrants granted to non-employees that are exercisable in US dollars are required to be accounted for as derivative liabilities because they are considered not to be indexed to the Company’s stock due to their exercise price being denominated in a currency other than the Company’s functional currency. | |||||||||||
The non-employee options and warrants are required to be re-valued with the change in fair value of the liability recorded as a gain or loss on the change of fair value of derivative liability and included in other items in the Company’s Consolidated Statements of Comprehensive Income at the end of each reporting period. The fair value of the options will continue to be classified as a liability until such time as they are exercised, expire or there is an amendment to the respective agreements that renders these financial instruments to be no longer classified as a liability. | |||||||||||
The non-employee share purchase option and warrant liabilities are accounted for at their respective fair values and are summarized as follows: | |||||||||||
2015 | 2014 | 2013 | |||||||||
Derivative liability, opening balance | $ | 284,195 | $ | 244,891 | $ | 263,143 | |||||
Warrants issued during the year | 32,570 | - | - | ||||||||
Change in fair value of options and warrants | (196,428 | ) | 39,304 | (18,252 | ) | ||||||
Derivative liability, closing balance | $ | 120,337 | $ | 284,195 | $ | 244,891 | |||||
An estimate for the fair value of non-employee stock options and warrants is determined through use of the Black-Scholes Model. Assumptions applied by management as at February 28, 2015 were as follows: (1) weighted average risk-free rate of 0.69% (2014 – 2.01%; 2013 – 1.55%); (2) weighted average dividend yield of nil (2014 – nil; 2013 – nil); (3) a weighted average expected volatility of 58.6% (2014 – 111.6%; 2013 – 111.9%); (4) a weighted average expected life of 43 months (2014 - 75 months; 2013 – 87 months); and (5) a weighted average exercise price of $2.70 USD. These options have been included in the stock options data presented in Note 7(c). | |||||||||||
As at February 28, 2015 the warrants granted to consultants had not been issued. | |||||||||||
The exercise of non-employee options and warrants will result in a reduction of the derivative liability. |
Income_Tax
Income Tax | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Income Tax [Text Block] | 10 | Income Tax | |||||||||
Earnings before income taxes and the provision for income taxes consisted of the following for the years ended February 28, 2015, February 28, 2014, and February 28, 2013: | |||||||||||
2015 | 2014 | 2013 | |||||||||
Earnings before income taxes: | |||||||||||
Canada | $ | 461,075 | $ | 1,441,059 | $ | 1,017,263 | |||||
United States | (16,528 | ) | (22,356 | ) | (119,307 | ) | |||||
Total | 444,547 | $ | 1,418,703 | $ | 897,956 | ||||||
Provision for income taxes: | |||||||||||
Current | $ | - | $ | - | $ | - | |||||
Deferred, Canada | 108,965 | 255,408 | 306,652 | ||||||||
Deferred, United States | - | - | - | ||||||||
Total | $ | 108,965 | $ | 255,408 | $ | 306,652 | |||||
Income tax computed at statutory tax rates reconciles to the income tax provision, using a 26% (2014 – 25.75%, 2013 – 25%) statutory tax rate, as follows: | |||||||||||
2015 | 2014 | 2013 | |||||||||
Tax at statutory rates at CDN rates | $ | 115,582 | $ | 367,903 | $ | 220,492 | |||||
Foreign loss taxed at US rates | (4,297 | ) | (3,360 | ) | (16,690 | ) | |||||
Effect of change in statutory rate | - | - | - | ||||||||
Effect of foreign exchange on loss carry-forwards | (174,257 | ) | (236,464 | ) | (150,732 | ) | |||||
Non-deductible expenses (revenue) | (37,861 | ) | 26,232 | 37,979 | |||||||
Expiry of loss carry-forwards | - | - | |||||||||
Other items, net | 42,380 | (156,542 | ) | 38,652 | |||||||
Change in valuation allowance | 167,418 | 257,639 | 176,951 | ||||||||
Income tax provision for year | $ | 108,965 | $ | 255,408 | $ | 306,652 | |||||
Effective July 1, 2013, the British Columbia provincial rate increased from 10.00% to 11.00% . The tax rate for the Federal corporate tax remained the same at 15.00% . | |||||||||||
As at February 28, 2015, the Company and its subsidiaries have accumulated net operating losses in the amount of approximately $5.8 million which can be applied against future earnings in Canada and $8.4 million in the United States. The net operating loss carry forward amounts commence to expire in 2025 through 2035. | |||||||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | |||||||||||
2015 | 2014 | ||||||||||
Operating and other losses carried forward | $ | 5,168,877 | $ | 4,907,476 | |||||||
Property, plant and equipment | 612,706 | 821,547 | |||||||||
Trademark and deferred costs | 114,965 | 113,355 | |||||||||
Un-realized foreign exchange loss | (801 | ) | (1,068 | ) | |||||||
Financing costs | 4,017 | - | |||||||||
Total deferred tax assets | 5,899,764 | 5,841,310 | |||||||||
Valuation allowance | (3,856,161 | ) | (3,688,743 | ) | |||||||
Net deferred tax assets | $ | 2,043,603 | $ | 2,152,567 | |||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of tax assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company has recognized a valuation allowance for those deferred tax assets for which realization is not more likely than not to occur. | |||||||||||
The tax years that remain open to examination by the tax authorities are generally 2010-2015. The net operating losses from prior years are subject to adjustment under examination to the extent they remain unutilized in an open year. | |||||||||||
There are no uncertain tax positions to recognize at February 28, 2015 and February 28, 2014. | |||||||||||
The valuation allowance represents tax losses and deferred income tax assets from inactive United States subsidiaries, with a tax rate of 37%, totaling $3,616,089 ; and inactive Canadian subsidiaries, with a tax rate of 26%, totaling $240,072. |
Commitments
Commitments | 12 Months Ended | |||
Feb. 28, 2015 | ||||
Commitments [Text Block] | 11 | Commitments | ||
The Company is committed to certain agreements and operating leases. The minimum amounts due over the remaining terms of those agreements are as follows: | ||||
2016 | $ | 767,994 | ||
2017 | 784,375 | |||
2018 | 504,025 | |||
2019 | 111,535 | |||
2020 | 118,838 | |||
and thereafter | 359,958 | |||
Total future minimum payments | $ | 2,646,725 | ||
During the years ended February 28, 2015, February 28, 2014 and February 28, 2013, the Company incurred rental expenses of $750,879, $723,437, and $931,224 respectively. | ||||
The Company has committed to certain purchase obligations as follows: | ||||
2016 | $ | 145,987 | ||
2017 | 152,702 | |||
2018 | 25,944 | |||
2019 | 1,399 | |||
2020 | - | |||
and thereafter | - | |||
Total future minimum payments | $ | 326,032 |
Contingencies
Contingencies | 12 Months Ended | |
Feb. 28, 2015 | ||
Contingencies [Text Block] | 12 | Contingencies |
The Company is a party to various legal claims which have arisen in the normal course of business, none of which are expected to have a material adverse effect on the financial position, results of operations, or cash flows of the Company. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||||||||||
Feb. 28, 2015 | ||||||||||||
Related Party Transactions [Text Block] | 13 | Related Party Transactions | ||||||||||
Related party transactions not disclosed elsewhere are as follows: | ||||||||||||
2015 | 2014 | 2013 | ||||||||||
i) | Incurred consulting fees with a company related by a director in common | $ | 84,000 | $ | 84,000 | $ | 84,000 | |||||
ii) | Incurred professional service fees with a company related by a director in common | $ | 528,000 | $ | 528,000 | $ | 528,000 | |||||
iii) | Incurred marketing consulting services with a company related by a director in common | $ | 124,225 | $ | 80,900 | $ | 80,800 | |||||
iv) | Incurred bottling services from a company related by a director in common | $ | 183,186 | $ | 111,519 | $ | 89,493 | |||||
v) | Incurred consulting fees with a company related by an officer in common | $ | 150,000 | $ | 150,000 | $ | 271,400 | |||||
vi) | Incurred services from a company related by a director in common | $ | 4,449 | $ | 5,355 | $ | 3,763 | |||||
vii) | Purchased supplies from a company related by a director in common | $ | 15,026 | $ | - | $ | - |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||
Feb. 28, 2015 | ||||||||||||||
Fair Value of Financial Instruments [Text Block] | 14 | Fair Value of Financial Instruments | ||||||||||||
The Company’s financial assets and financial liabilities as at February 28, 2015, measured at fair value on a recurring basis are summarized below: | ||||||||||||||
Quoted | Significant | Significant | ||||||||||||
Prices in | Observable | Unobservable | Balance, | |||||||||||
Active Market | Inputs | Inputs | February 28, | |||||||||||
(Level 1) | (Level 2) | (Level 3) | 2015 | |||||||||||
Cash and cash equivalents | $ | 1,702,922 | $ | - | $ | - | $ | 1,702,922 | ||||||
Derivative liability | - | - | (120,337 | ) | (120,337 | ) | ||||||||
$ | 1,702,922 | $ | - | $ | (120,337 | ) | $ | 1,582,585 | ||||||
The Company’s financial assets and financial liabilities as at February 28, 2014, measured at fair value on a recurring basis are summarized below: | ||||||||||||||
Quoted | Significant | Significant | ||||||||||||
Prices in | Observable | Unobservable | Balance, | |||||||||||
Active Market | Inputs | Inputs | February 28, | |||||||||||
(Level 1) | (Level 2) | (Level 3) | 2014 | |||||||||||
Cash and cash equivalents | $ | 2,393,784 | $ | - | $ | - | $ | 2,393,784 | ||||||
Derivative liability | - | - | (284,195 | ) | (284,195 | ) | ||||||||
$ | 2,393,784 | $ | - | $ | (284,195 | ) | $ | (2,109,589 | ) | |||||
The fair value of cash and cash equivalents approximates its carrying value. | ||||||||||||||
The fair value of the derivative liability for non-employee stock options is determined through use of the Black-Scholes model (Note 9). |
Segmented_Information
Segmented Information | 12 Months Ended | |
Feb. 28, 2015 | ||
Segmented Information [Text Block] | 15 | Segmented Information |
The Company operates in one industry segment being the production and distribution of beverages. The Company’s principal operations are comprised of an integrated bottling and distribution system for beverages. Substantially, all of the Company’s operations, assets and employees are located in Canada and net revenue from export sales during all the years reported are less than 10%. | ||
During the year ended February 28, 2015, the Company’s ten largest customers comprised approximately 95% (2014 - 96%; 2013 - 92%) of revenue and no one customer comprised more than 90% (2014 - 90%; 2013 - 83%) of revenue. As at February 28, 2015 and February 28, 2014, one customer comprised more than 10% of trade receivables. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Feb. 28, 2015 | |||
Nature of Operations [Policy Text Block] | Nature of | Leading Brands, Inc. (the “Company”) and its subsidiaries are involved in the development, production, marketing and distribution of the Company’s branded beverage brands and bottling for third parties. | |
Operations | |||
The Company sells branded beverage products through its Integrated Distribution System (IDS) of distributors, wholesalers, and grocery chains. Its principal product lines include waters, juices and other premium beverages. The bottling plant provides bottling services for certain of the Company’s own products and for an external customer. The Company also uses the services of third party bottlers as required to meet its objectives. | |||
Use of Estimates [Policy Text Block] | Use of | The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. | |
Estimates | |||
On an ongoing basis, the Company evaluates its estimates, including those related to inventories, trade receivables, useful lives of property, plant and equipment, income taxes, and stock-based compensation, among others. The reported amounts and note disclosure are determined using management’s best estimates based on assumptions that reflect the most probable set of economic conditions and planned course of action. Actual results could differ from those estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. | |||
Foreign Currency Translation [Policy Text Block] | Foreign Currency | The Company’s functional and reporting currency is the Canadian dollar. Foreign-currency denominated transactions are translated at the rate of exchange prevailing at the time of the transaction. Monetary assets and liabilities have been translated into Canadian dollars at the year-end exchange rate. All such exchange gains and losses are included in the determination of income. | |
Translation | |||
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash | Amounts recognized as cash and cash equivalents include investments of surplus cash in highly liquid securities with maturities at date of purchase of three months or less. | |
Equivalents | |||
Accounts Receivable [Policy Text Block] | Accounts | Accounts receivable invoices are recorded when the products are delivered and title transfers to customers or when bottling services are performed and collection of related receivables is reasonably assured. Allowances for doubtful accounts are based primarily on historical write-off experience. Account balances that are deemed uncollectible are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Allowances for doubtful accounts of $36,329 and $51,579 as of February 28, 2015 and February 28, 2014, respectively, are netted against accounts receivable. | |
Receivable | |||
Inventory [Policy Text Block] | Inventory | Raw materials and finished goods purchased for resale are valued at the lower of cost, determined on a first-in, first-out basis, and market value. Finished goods, produced from manufacturing operations, are valued at the lower of standard cost which approximates average cost of raw materials, direct labour and overhead and market value. The provisions for obsolete or excess inventory are based on estimated forecasted usage of inventories. A significant change in demand for certain products as compared to forecasted amounts may result in recording additional provisions for obsolete inventory. Provisions for obsolete or excess inventory are recorded as cost of goods sold. | |
Property, plant and equipment [Policy Text Block] | Property, plant | Property, plant and equipment are recorded at cost and are amortized using the declining-balance method at annual rates as follows: | |
and equipment | |||
Plant and equipment | 7% - 20% | ||
Buildings | 5% | ||
Automotive equipment | 20% | ||
Land improvements | 8% | ||
Furniture, fixtures, computer hardware and software | 20% | ||
Leasehold improvements are amortized over the lesser of their expected life or the lease term. | |||
Management reviews property, plant and equipment for impairment when conditions exist that indicate the carrying amount of the assets may not be fully recoverable. If required an undiscounted operating cash flow analysis is completed to determine if impairment exists. When testing for impairment of assets held for use, assets and liabilities are grouped at the lowest level for which cash flows are separately identifiable. If impairment is determined to exist, the loss is calculated based on estimated fair value. | |||
Leases [Policy Text Block] | Leases | Leases are classified as either capital or operating in nature. Capital leases are those which substantially transfer the benefits and risks of ownership to the lessee. Obligations recorded under capital leases are reduced by the principal portion of lease payments. The imputed interest portion of the lease payment is charged to expense. | |
Revenue Recognition [Policy Text Block] | Revenue | Revenue on sales of products is recognized when the products are delivered and title transfers to customers. Revenues from the provision of manufacturing, packaging or other services are recognized when the services are performed and collection of related receivables is reasonably assured. The Company records shipping and handling revenue as a component of sales revenue, and shipping and handling costs are included in the cost of sales. | |
Recognition | |||
Incentives offered to customers including rebates, cash discounts, volume discounts, and slotting fees are recorded as a reduction of net sales when sales are recognized. | |||
Advertising Costs [Policy Text Block] | Advertising Costs | Advertising costs, which also include samples, trade show, product demo, media promotion costs are expensed as incurred. During the years ended February 28 2015, February 28, 2014 and February 28, 2013, the Company incurred advertising costs of $553,187, $509,433 and $646,915, respectively. | |
Earnings (loss) per common share [Policy Text Block] | Earnings (loss) | Basic EPS is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted EPS gives effect to all dilutive potential common shares outstanding during the year including stock options and warrants using the treasury stock method. In computing diluted EPS, the average stock price for the year is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. | |
per common | |||
share | |||
Stock-Based Compensation [Policy Text Block] | Stock-Based | Compensation costs are charged to the Consolidated Statements of Comprehensive Income. Compensation costs for employees are amortized over the period from the grant date to the date the options vest. Compensation expense for non-employees is recognized over the vesting period. Compensation for non- employees is re-measured at each balance sheet date until the earlier of the vesting date or the date of completion of the service. Upon exercise of stock options, the consideration paid by the option holder, together with the amount previously recognized in additional paid-in capital, is recorded as an increase to share capital. | |
Compensation | |||
The Company uses the Black-Scholes option valuation model to calculate the fair value of stock options at the date of grant. Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Changes in these assumptions can materially affect the fair value estimate. | |||
Changes in fair value of options granted to non-employees that are accounted for as liabilities are recognized as stock compensation until fully vested, and after that time as change in fair value. | |||
Income Tax [Policy Text Block] | Income Tax | Deferred income tax assets and liabilities are computed based on differences between the carrying amount of assets and liabilities on the balance sheet and their corresponding tax values using the enacted income tax rates by tax jurisdiction when these differences are expected to be realized. Deferred income tax assets also result from unused loss carry-forwards and other deductions. The valuation of deferred income tax assets is reviewed annually and adjusted, if necessary, by use of a valuation allowance to reflect the estimated realizable amount. Significant management judgement is required in determining the provision for income taxes, the deferred income tax assets and liabilities and any valuation allowance recorded against the net future income tax assets. Management evaluates all available evidence, such as recent and expected future operating results by tax jurisdiction, and current and enacted tax legislation and other temporary differences between book and tax accounting to determine whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. Management has determined certain of these deferred tax assets do not meet the more likely than not criteria, and accordingly, these deferred income tax asset amounts have been partially offset by a valuation allowance (Note 10). No reserves for an uncertain tax position have been recorded for the years ended February 28, 2015 or February 28, 2014. | |
Comprehensive Income [Policy Text Block] | Comprehensive | Comprehensive income includes both net earnings and other comprehensive income which are presented in a single continuous statement. | |
Income | |||
Fair Value Measurements [Policy Text Block] | Fair Value | The book value of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities approximate their fair values due to the immediate or short-term maturity of those instruments. Based on borrowing rates currently available to the Company under similar terms, the book value of long term debt and capital lease obligations approximate their fair values. The fair value hierarchy under US GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: | |
Measurements | |||
Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; | |||
Level 2 - observable inputs other than Level I, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and | |||
Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||
The Company had certain financial liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP. As at February 28, 2015 and February 28, 2014, the derivative liability on non-employee stock options is a financial liability classified for Level 3 fair value measurement. See Note 14 for more information. | |||
Recent Accounting Pronouncements [Policy Text Block] | Recent | In April 2014, the Financial Accounting Standards Board (the “FASB”) amended the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The provisions of the new guidance were effective prospectively as of the beginning of the fiscal years ended after December 15, 2014. The adoption of this guidance had no impact on our financial statements. | |
Accounting | |||
Pronouncements | |||
In July 2013, the FASB issued guidance on the presentation of unrecognized tax benefits which better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carry forwards, similar tax losses, or tax credit carry forwards exist. The provisions of the new guidance were effective prospectively as of the beginning of the fiscal years ended after December 15, 2014. The adoption of this guidance did not have a material impact on our financial statements | |||
In May 2014, the Financial Accounting Standard Board, or FASB, issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: Topic 606 (ASU 2014-09). To supersede existing revenue recognition guidance under generally accepted accounting principles in the United States, or GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five steps process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the fiscal and interim reporting periods beginning after December 15, 2016 using either of two methods: (i) retrospective to each prior reporting period presented within the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU 2014-09. We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our financial statements. |
Operations_and_Summary_of_Sign1
Operations and Summary of Significant Accounting Principles (Tables) | 12 Months Ended | ||||||||||||
Feb. 28, 2015 | |||||||||||||
Schedule of Allowance for Doubtful Accounts [Table Text Block] | Allowances for Doubtful Accounts | 2015 | 2014 | 2013 | |||||||||
Balance at beginning of year | $ | 51,579 | $ | 124,672 | $ | 43,353 | |||||||
Bad debt provision | - | - | 95,838 | ||||||||||
Write-off of receivables | (15,250 | ) | (73,093 | ) | (14,519 | ) | |||||||
Balance at end of year | $ | 36,329 | $ | 51,579 | $ | 124,672 | |||||||
Schedule of Significant Acquisitions and Disposals of Property, plant and equipment [Table Text Block] | Plant and equipment | 7% - 20% | |||||||||||
Buildings | 5% | ||||||||||||
Automotive equipment | 20% | ||||||||||||
Land improvements | 8% | ||||||||||||
Furniture, fixtures, computer hardware and software | 20% |
Inventory_Tables
Inventory (Tables) | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Schedule of Inventory [Table Text Block] | 2015 | 2014 | |||||||||
Finished goods, net | $ | 410,193 | $ | 219,842 | |||||||
Raw materials | 906,433 | 366,671 | |||||||||
$ | 1,316,626 | $ | 586,513 | ||||||||
Schedule of Inventory Obsolescence Provision [Table Text Block] | Inventory Obsolescence Provision | 2015 | 2014 | 2013 | |||||||
Balance at beginning of year | $ | 100,058 | $ | 129,106 | $ | 115,413 | |||||
Obsolescence provision | 45,000 | 156,000 | 242,717 | ||||||||
Write-off of inventory | (30,314 | ) | (185,048 | ) | (229,024 | ) | |||||
Balance at end of year | $ | 114,744 | $ | 100,058 | $ | 129,106 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||||||||||||
Feb. 28, 2015 | Feb. 28, 2014 | |||||||||||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | 2015 | 2014 | ||||||||||||||||||||
Accumulated | Accumulated | |||||||||||||||||||||
Cost | Depreciation | Net | Cost | Depreciation | Net | |||||||||||||||||
Plant and equipment | $ | 16,309,134 | $ | 9,234,551 | $ | 7,074,583 | Plant and equipment | $ | 15,917,608 | $ | 8,739,219 | $ | 7,178,389 | |||||||||
Buildings | 1,950,446 | 1,273,546 | 676,900 | Buildings | 1,931,944 | 1,238,488 | 693,456 | |||||||||||||||
Automotive equipment | 286,252 | 126,751 | 159,501 | Automotive equipment | 286,252 | 86,857 | 199,395 | |||||||||||||||
Land | 433,613 | - | 433,613 | Land | 433,613 | - | 433,613 | |||||||||||||||
Land improvements | 1,861 | 1,324 | 537 | Land improvements | 1,861 | 1,277 | 584 | |||||||||||||||
Leasehold improvements | 695,182 | 291,317 | 403,865 | Leasehold improvements | 695,182 | 237,054 | 458,128 | |||||||||||||||
Furniture and fixtures | 687,260 | 594,929 | 92,331 | Furniture and fixtures | 681,926 | 573,822 | 108,104 | |||||||||||||||
Computer hardware and software | 2,324,461 | 2,066,545 | 257,916 | Computer hardware and software | 2,277,183 | 2,014,052 | 263,131 | |||||||||||||||
$ | 22,688,209 | $ | 13,588,963 | $ | 9,099,246 | $ | 22,225,569 | $ | 12,890,769 | $ | 9,334,800 |
Prepaid_Expenses_and_Deposits_
Prepaid Expenses and Deposits (Tables) | 12 Months Ended | |||||||
Feb. 28, 2015 | ||||||||
Schedule of Prepaid Expenses and Deposits [Table Text Block] | 2015 | 2014 | ||||||
Slotting fees | $ | 53,208 | $ | 9,508 | ||||
Insurance premiums | 79,877 | 72,433 | ||||||
Rental deposits and other | 156,498 | 91,900 | ||||||
$ | 289,583 | $ | 173,841 |
Longterm_Debt_Tables
Long-term Debt (Tables) | 12 Months Ended | |||||||||
Feb. 28, 2015 | ||||||||||
Schedule of Long-term Debt [Table Text Block] | 2015 | 2014 | ||||||||
a) | The Company’s capital lease was fully repaid in September, 2014. The capital lease had principal and interest repayable at $12,729 per month including interest at a seven-year fixed rate of 6.125% per annum, collateralized over certain pieces of manufacturing equipment. | $ | - | $ | 75,027 | |||||
- | 75,027 | |||||||||
Less: current portion | - | 75,027 | ||||||||
$ | - | $ | - |
Shareholders_Equity_Tables
Shareholders Equity (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 28, 2015 | |||||||||||||||||
Schedule of Stock by Class [Table Text Block] | a) | Share capital | Number of Authorized Shares | ||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||
Common shares without par value | 500,000,000 | 500,000,000 | 500,000,000 | ||||||||||||||
Preferred shares without par value | 9,999,900 | 9,999,900 | 9,999,900 | ||||||||||||||
Series “A” preferred shares | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||
Series “B” preferred shares | 100 | 100 | 100 | ||||||||||||||
Series “C” preferred shares | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||
Series “D” preferred shares | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||
Series “E” preferred shares | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||
20,000,000 | 20,000,000 | 20,000,000 | |||||||||||||||
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Weighted | ||||||||||||||||
Average | Weighted | Weighted | |||||||||||||||
Number of | Remaining | Average | Number of | Average | |||||||||||||
Range of | Options | Contractual | Exercise | Options | Exercise | ||||||||||||
Exercise Prices | Outstanding | Life (Years) | Price (USD) | Exercisable | Price (USD) | ||||||||||||
$2.45 to $2.99 | 642,000 | 5.09 | 2.45 | 642,000 | 2.45 | ||||||||||||
$3.00 to $3.99 | 167,000 | 3.63 | 3.19 | 167,000 | 3.19 | ||||||||||||
$4.00 to $5.99 | 1,767 | 0.88 | 5.35 | 1,767 | 5.35 | ||||||||||||
$6.00 to $24.65 | 46,000 | 2.81 | 9.47 | 46,000 | 9.47 | ||||||||||||
856,767 | 856,767 | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Average | ||||||||||||||||
Outstanding | Exercise Price | ||||||||||||||||
Options | (USD) | ||||||||||||||||
Options outstanding as at February 29, 2012 | 976,433 | 3.05 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | (2,000 | ) | 6.2 | ||||||||||||||
Exercised | (20,000 | ) | 3 | ||||||||||||||
Options outstanding as at February 28, 2013 | 954,433 | 3.04 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Exercised | (30,864 | ) | 2.64 | ||||||||||||||
Options outstanding as at February 28, 2014 | 923,569 | 3.06 | |||||||||||||||
Granted | - | - | |||||||||||||||
Expired | (36,249 | ) | 5.12 | ||||||||||||||
Exercised | (28,553 | ) | 2.52 | ||||||||||||||
Cancelled | (2,000 | ) | 6.2 | ||||||||||||||
Options exercisable, February 28, 2015 | 856,767 | 2.98 | |||||||||||||||
Options vested and expected to vest | 856,767 | 2.98 | |||||||||||||||
Schedule of Non-vested Stock Option Activity and Related Information [Table Text Block] | Weighted Average | ||||||||||||||||
Exercise | |||||||||||||||||
Outstanding Options | Price (USD) | ||||||||||||||||
Non-vested at March 1, 2014 | 7,510 | 3.5 | |||||||||||||||
Granted | - | - | |||||||||||||||
Vested | 7,510 | 3.5 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Non-vested at February 28, 2015 | - | - | |||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | |||||||||||||||||
Weighted Average | |||||||||||||||||
Outstanding | Exercise | ||||||||||||||||
Warrants | Price (USD) | ||||||||||||||||
Warrants outstanding February 28, 2014, 2013 | - | - | |||||||||||||||
Granted (notes 8 and 9) (1) | 25,000 | 3.4 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Expired | - | - | |||||||||||||||
Warrants outstanding at February 28, 2015 | 25,000 | 3.4 | |||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | 2015 | 2014 | 2013 | ||||||||||||||
Weighted average shares – Basic EPS | 2,922,684 | 2,929,722 | 3,012,647 | ||||||||||||||
Plus: incremental shares from assumed exercise of stock options | 270,279 | 316,501 | 302,115 | ||||||||||||||
Weight average shares – diluted EPS | 3,192,963 | 3,246,223 | 3,314,762 | ||||||||||||||
Schedule of Earnings (loss) per common share [Table Text Block] | 2015 | 2014 | 2013 | ||||||||||||||
Net income | 335,582 | 1,163,295 | 591,304 | ||||||||||||||
(Gain)/Loss from change in fair value | (196,428 | ) | 39,304 | (18,252 | ) | ||||||||||||
of dilutive stock options | |||||||||||||||||
Adjusted net Income | 139,154 | 1,202,599 | 573,052 | ||||||||||||||
Earnings per share, basic | $ | 0.11 | $ | 0.4 | $ | 0.2 | |||||||||||
Earnings per share, diluted | $ | 0.04 | $ | 0.37 | $ | 0.17 |
Derivative_Liability_Tables
Derivative Liability (Tables) | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | 2015 | 2014 | 2013 | ||||||||
Derivative liability, opening balance | $ | 284,195 | $ | 244,891 | $ | 263,143 | |||||
Warrants issued during the year | 32,570 | - | - | ||||||||
Change in fair value of options and warrants | (196,428 | ) | 39,304 | (18,252 | ) | ||||||
Derivative liability, closing balance | $ | 120,337 | $ | 284,195 | $ | 244,891 |
Income_Tax_Tables
Income Tax (Tables) | 12 Months Ended | ||||||||||
Feb. 28, 2015 | |||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2015 | 2014 | 2013 | ||||||||
Earnings before income taxes: | |||||||||||
Canada | $ | 461,075 | $ | 1,441,059 | $ | 1,017,263 | |||||
United States | (16,528 | ) | (22,356 | ) | (119,307 | ) | |||||
Total | 444,547 | $ | 1,418,703 | $ | 897,956 | ||||||
Provision for income taxes: | |||||||||||
Current | $ | - | $ | - | $ | - | |||||
Deferred, Canada | 108,965 | 255,408 | 306,652 | ||||||||
Deferred, United States | - | - | - | ||||||||
Total | $ | 108,965 | $ | 255,408 | $ | 306,652 | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 | 2014 | 2013 | ||||||||
Tax at statutory rates at CDN rates | $ | 115,582 | $ | 367,903 | $ | 220,492 | |||||
Foreign loss taxed at US rates | (4,297 | ) | (3,360 | ) | (16,690 | ) | |||||
Effect of change in statutory rate | - | - | - | ||||||||
Effect of foreign exchange on loss carry-forwards | (174,257 | ) | (236,464 | ) | (150,732 | ) | |||||
Non-deductible expenses (revenue) | (37,861 | ) | 26,232 | 37,979 | |||||||
Expiry of loss carry-forwards | - | - | |||||||||
Other items, net | 42,380 | (156,542 | ) | 38,652 | |||||||
Change in valuation allowance | 167,418 | 257,639 | 176,951 | ||||||||
Income tax provision for year | $ | 108,965 | $ | 255,408 | $ | 306,652 | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2015 | 2014 | |||||||||
Operating and other losses carried forward | $ | 5,168,877 | $ | 4,907,476 | |||||||
Property, plant and equipment | 612,706 | 821,547 | |||||||||
Trademark and deferred costs | 114,965 | 113,355 | |||||||||
Un-realized foreign exchange loss | (801 | ) | (1,068 | ) | |||||||
Financing costs | 4,017 | - | |||||||||
Total deferred tax assets | 5,899,764 | 5,841,310 | |||||||||
Valuation allowance | (3,856,161 | ) | (3,688,743 | ) | |||||||
Net deferred tax assets | $ | 2,043,603 | $ | 2,152,567 |
Commitments_Tables
Commitments (Tables) | 12 Months Ended | |||
Feb. 28, 2015 | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2016 | $ | 767,994 | |
2017 | 784,375 | |||
2018 | 504,025 | |||
2019 | 111,535 | |||
2020 | 118,838 | |||
and thereafter | 359,958 | |||
Total future minimum payments | $ | 2,646,725 | ||
Long-term Purchase Obligations [Table Text Block] | 2016 | $ | 145,987 | |
2017 | 152,702 | |||
2018 | 25,944 | |||
2019 | 1,399 | |||
2020 | - | |||
and thereafter | - | |||
Total future minimum payments | $ | 326,032 |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | |||||||||||
Feb. 28, 2015 | ||||||||||||
Schedule of Related Party Transactions [Table Text Block] | 2015 | 2014 | 2013 | |||||||||
i) | Incurred consulting fees with a company related by a director in common | $ | 84,000 | $ | 84,000 | $ | 84,000 | |||||
ii) | Incurred professional service fees with a company related by a director in common | $ | 528,000 | $ | 528,000 | $ | 528,000 | |||||
iii) | Incurred marketing consulting services with a company related by a director in common | $ | 124,225 | $ | 80,900 | $ | 80,800 | |||||
iv) | Incurred bottling services from a company related by a director in common | $ | 183,186 | $ | 111,519 | $ | 89,493 | |||||
v) | Incurred consulting fees with a company related by an officer in common | $ | 150,000 | $ | 150,000 | $ | 271,400 | |||||
vi) | Incurred services from a company related by a director in common | $ | 4,449 | $ | 5,355 | $ | 3,763 | |||||
vii) | Purchased supplies from a company related by a director in common | $ | 15,026 | $ | - | $ | - |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Feb. 28, 2015 | Feb. 28, 2014 | |||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted | Significant | Significant | Quoted | Significant | Significant | ||||||||||||||||||||||
Prices in | Observable | Unobservable | Balance, | Prices in | Observable | Unobservable | Balance, | |||||||||||||||||||||
Active Market | Inputs | Inputs | February 28, | Active Market | Inputs | Inputs | February 28, | |||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | 2015 | (Level 1) | (Level 2) | (Level 3) | 2014 | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,702,922 | $ | - | $ | - | $ | 1,702,922 | Cash and cash equivalents | $ | 2,393,784 | $ | - | $ | - | $ | 2,393,784 | |||||||||||
Derivative liability | - | - | (120,337 | ) | (120,337 | ) | Derivative liability | - | - | (284,195 | ) | (284,195 | ) | |||||||||||||||
$ | 1,702,922 | $ | - | $ | (120,337 | ) | $ | 1,582,585 | ||||||||||||||||||||
$ | 2,393,784 | $ | - | $ | (284,195 | ) | $ | (2,109,589 | ) |
Operations_and_Summary_of_Sign2
Operations and Summary of Significant Accounting Principles (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Operations And Summary Of Significant Accounting Principles 1 | 553,187 |
Operations And Summary Of Significant Accounting Principles 2 | 509,433 |
Operations And Summary Of Significant Accounting Principles 3 | 646,915 |
Inventory_Narrative_Details
Inventory (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Inventory 1 | 114,744 |
Inventory 2 | 100,058 |
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Property, Plant And Equipment 1 | 2,687,820 |
Property, Plant And Equipment 2 | 2,687,820 |
Property, Plant And Equipment 3 | 1,143,534 |
Property, Plant And Equipment 4 | 1,027,297 |
Longterm_Debt_Narrative_Detail
Long-term Debt (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Long-term Debt 1 | 3,500,000 |
Long-term Debt 2 | 3,500,000 |
Long-term Debt 3 | 613,400 |
Long-term Debt 4 | 329,900 |
Long-term Debt 5 | 1.00% |
Long-term Debt 6 | 1.50% |
Long-term Debt 7 | 1.00% |
Long-term Debt 8 | 1.50% |
Lease_Inducement_Narrative_Det
Lease Inducement (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Y | |
Lease Inducement 1 | 115,016 |
Lease Inducement 2 | 5 |
Lease Inducement 3 | 0 |
Lease Inducement 4 | 0 |
Lease Inducement 5 | 24,491 |
Shareholders_Equity_Narrative_
Shareholders Equity (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Y | |
Shareholders Equity 1 | 41,008 |
Shareholders Equity 2 | 175,094 |
Shareholders Equity 3 | 11.17 |
Shareholders Equity 4 | 458,129 |
Shareholders Equity 5 | 283,035 |
Shareholders Equity 6 | 48,348 |
Shareholders Equity 7 | 224,992 |
Shareholders Equity 8 | 11.23 |
Shareholders Equity 9 | 542,955 |
Shareholders Equity 10 | 317,963 |
Shareholders Equity 11 | 326,187 |
Shareholders Equity 12 | 1,544,342 |
Shareholders Equity 13 | 11.34 |
Shareholders Equity 14 | 3,694,332 |
Shareholders Equity 15 | 2,149,990 |
Shareholders Equity 16 | 20.00% |
Shareholders Equity 17 | 10 |
Shareholders Equity 18 | 45,158 |
Shareholders Equity 19 | 38,372 |
Shareholders Equity 20 | 22,200 |
Shareholders Equity 21 | 606,060 |
Shareholders Equity 22 | 1,197,000 |
Shareholders Equity 23 | 945,640 |
Shareholders Equity 24 | 606,060 |
Shareholders Equity 25 | 1,193,000 |
Shareholders Equity 26 | 936,711 |
Shareholders Equity 27 | 0 |
Shareholders Equity 28 | 72,767 |
Shareholders Equity 29 | 83,600 |
Shareholders Equity 30 | 473,833 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
Stock-based Compensation 1 | 25,000 |
Stock-based Compensation 2 | $3.40 |
Stock-based Compensation 3 | 32,570 |
Stock-based Compensation 4 | 16,236 |
Stock-based Compensation 5 | 54,471 |
Stock-based Compensation 6 | 151,916 |
Stock-based Compensation 7 | $32,570 |
Derivative_Liability_Narrative
Derivative Liability (Narrative) (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
M | |
Derivative Liability 1 | 0.69% |
Derivative Liability 2 | 2.01% |
Derivative Liability 3 | 1.55% |
Derivative Liability 4 | 0 |
Derivative Liability 5 | 58.60% |
Derivative Liability 6 | 111.60% |
Derivative Liability 7 | 111.90% |
Derivative Liability 8 | 43 |
Derivative Liability 9 | 75 |
Derivative Liability 10 | 87 |
Derivative Liability 11 | $2.70 |
Income_Tax_Narrative_Details
Income Tax (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Income Tax 1 | 26.00% |
Income Tax 2 | 25.75% |
Income Tax 3 | 25.00% |
Income Tax 4 | 10.00% |
Income Tax 5 | 11.00% |
Income Tax 6 | 15.00% |
Income Tax 7 | 5,800,000 |
Income Tax 8 | 8,400,000 |
Income Tax 9 | 37.00% |
Income Tax 10 | 3,616,089 |
Income Tax 11 | 26.00% |
Income Tax 12 | 240,072 |
Commitments_Narrative_Details
Commitments (Narrative) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Commitments 1 | 750,879 |
Commitments 2 | 723,437 |
Commitments 3 | 931,224 |
Segmented_Information_Narrativ
Segmented Information (Narrative) (Details) | 12 Months Ended |
Feb. 28, 2015 | |
Segmented Information 1 | 10.00% |
Segmented Information 2 | 95.00% |
Segmented Information 3 | 96.00% |
Segmented Information 4 | 92.00% |
Segmented Information 5 | 90.00% |
Segmented Information 6 | 90.00% |
Segmented Information 7 | 83.00% |
Segmented Information 8 | 10.00% |
Schedule_of_Allowance_for_Doub
Schedule of Allowance for Doubtful Accounts (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 1 | 51,579 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 2 | 124,672 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 3 | 43,353 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 4 | 0 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 5 | 0 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 6 | 95,838 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 7 | -15,250 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 8 | -73,093 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 9 | -14,519 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 10 | 36,329 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 11 | 51,579 |
Operations And Summary Of Significant Accounting Principles Schedule Of Allowance For Doubtful Accounts 12 | 124,672 |
Schedule_of_Significant_Acquis
Schedule of Significant Acquisitions and Disposals of Property, plant and equipment (Details) | 12 Months Ended |
Feb. 28, 2015 | |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 1 | 7.00% |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 2 | 20.00% |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 3 | 5.00% |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 4 | 20.00% |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 5 | 8.00% |
Operations And Summary Of Significant Accounting Principles Schedule Of Significant Acquisitions And Disposals Of Property, Plant And Equipment 6 | 20.00% |
Schedule_of_Inventory_Details
Schedule of Inventory (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Inventory Schedule Of Inventory 1 | 410,193 |
Inventory Schedule Of Inventory 2 | 219,842 |
Inventory Schedule Of Inventory 3 | 906,433 |
Inventory Schedule Of Inventory 4 | 366,671 |
Inventory Schedule Of Inventory 5 | 1,316,626 |
Inventory Schedule Of Inventory 6 | 586,513 |
Schedule_of_Inventory_Obsolesc
Schedule of Inventory Obsolescence Provision (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Inventory Schedule Of Inventory Obsolescence Provision 1 | 100,058 |
Inventory Schedule Of Inventory Obsolescence Provision 2 | 129,106 |
Inventory Schedule Of Inventory Obsolescence Provision 3 | 115,413 |
Inventory Schedule Of Inventory Obsolescence Provision 4 | 45,000 |
Inventory Schedule Of Inventory Obsolescence Provision 5 | 156,000 |
Inventory Schedule Of Inventory Obsolescence Provision 6 | 242,717 |
Inventory Schedule Of Inventory Obsolescence Provision 7 | -30,314 |
Inventory Schedule Of Inventory Obsolescence Provision 8 | -185,048 |
Inventory Schedule Of Inventory Obsolescence Provision 9 | -229,024 |
Inventory Schedule Of Inventory Obsolescence Provision 10 | 114,744 |
Inventory Schedule Of Inventory Obsolescence Provision 11 | 100,058 |
Inventory Schedule Of Inventory Obsolescence Provision 12 | 129,106 |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 1 | 16,309,134 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 2 | 9,234,551 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 3 | 7,074,583 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 4 | 1,950,446 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 5 | 1,273,546 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 6 | 676,900 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 7 | 286,252 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 8 | 126,751 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 9 | 159,501 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 10 | 433,613 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 11 | 0 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 12 | 433,613 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 13 | 1,861 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 14 | 1,324 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 15 | 537 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 16 | 695,182 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 17 | 291,317 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 18 | 403,865 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 19 | 687,260 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 20 | 594,929 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 21 | 92,331 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 22 | 2,324,461 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 23 | 2,066,545 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 24 | 257,916 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 25 | 22,688,209 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 26 | 13,588,963 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 27 | 9,099,246 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 1 | 15,917,608 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 2 | 8,739,219 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 3 | 7,178,389 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 4 | 1,931,944 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 5 | 1,238,488 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 6 | 693,456 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 7 | 286,252 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 8 | 86,857 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 9 | 199,395 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 10 | 433,613 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 11 | 0 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 12 | 433,613 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 13 | 1,861 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 14 | 1,277 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 15 | 584 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 16 | 695,182 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 17 | 237,054 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 18 | 458,128 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 19 | 681,926 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 20 | 573,822 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 21 | 108,104 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 22 | 2,277,183 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 23 | 2,014,052 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 24 | 263,131 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 25 | 22,225,569 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 26 | 12,890,769 |
Property, Plant And Equipment Schedule Of Property, Plant And Equipment 27 | 9,334,800 |
Schedule_of_Prepaid_Expenses_a
Schedule of Prepaid Expenses and Deposits (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 1 | 53,208 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 2 | 9,508 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 3 | 79,877 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 4 | 72,433 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 5 | 156,498 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 6 | 91,900 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 7 | 289,583 |
Prepaid Expenses And Deposits Schedule Of Prepaid Expenses And Deposits 8 | 173,841 |
Schedule_of_Longterm_Debt_Deta
Schedule of Long-term Debt (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Long-term Debt Schedule Of Long-term Debt 1 | 12,729 |
Long-term Debt Schedule Of Long-term Debt 2 | 6.13% |
Long-term Debt Schedule Of Long-term Debt 3 | 0 |
Long-term Debt Schedule Of Long-term Debt 4 | 75,027 |
Long-term Debt Schedule Of Long-term Debt 5 | 0 |
Long-term Debt Schedule Of Long-term Debt 6 | 75,027 |
Long-term Debt Schedule Of Long-term Debt 7 | 0 |
Long-term Debt Schedule Of Long-term Debt 8 | 75,027 |
Long-term Debt Schedule Of Long-term Debt 9 | 0 |
Long-term Debt Schedule Of Long-term Debt 10 | 0 |
Schedule_of_Stock_by_Class_Det
Schedule of Stock by Class (Details) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Stock By Class 1 | 500,000,000 |
Shareholders Equity Schedule Of Stock By Class 2 | 500,000,000 |
Shareholders Equity Schedule Of Stock By Class 3 | 500,000,000 |
Shareholders Equity Schedule Of Stock By Class 4 | 9,999,900 |
Shareholders Equity Schedule Of Stock By Class 5 | 9,999,900 |
Shareholders Equity Schedule Of Stock By Class 6 | 9,999,900 |
Shareholders Equity Schedule Of Stock By Class 7 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 8 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 9 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 10 | 100 |
Shareholders Equity Schedule Of Stock By Class 11 | 100 |
Shareholders Equity Schedule Of Stock By Class 12 | 100 |
Shareholders Equity Schedule Of Stock By Class 13 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 14 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 15 | 1,000,000 |
Shareholders Equity Schedule Of Stock By Class 16 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 17 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 18 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 19 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 20 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 21 | 4,000,000 |
Shareholders Equity Schedule Of Stock By Class 22 | 20,000,000 |
Shareholders Equity Schedule Of Stock By Class 23 | 20,000,000 |
Shareholders Equity Schedule Of Stock By Class 24 | 20,000,000 |
Schedule_of_Disclosure_of_Shar
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $2.45 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 2.99 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 642,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 5.09 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 2.45 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 642,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 2.45 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 3 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 3.99 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 167,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | 3.63 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 3.19 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | 167,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 3.19 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | 4 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 16 | 5.99 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 17 | 1,767 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 18 | 0.88 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 19 | 5.35 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 20 | 1,767 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 21 | 5.35 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 22 | 6 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 23 | $24.65 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 24 | 46,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 25 | 2.81 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 26 | 9.47 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 27 | 46,000 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 28 | 9.47 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 29 | 856,767 |
Shareholders Equity Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 30 | 856,767 |
Schedule_of_Sharebased_Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 1 | 976,433 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 2 | 3.05 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 3 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 4 | $0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 5 | -2,000 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 6 | 6.2 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 7 | -20,000 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 8 | 3 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 9 | 954,433 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 10 | 3.04 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 11 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 12 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 13 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 14 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 15 | -30,864 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 16 | 2.64 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 17 | 923,569 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 18 | 3.06 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 19 | 0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 20 | $0 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 21 | -36,249 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 22 | 5.12 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 23 | -28,553 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 24 | 2.52 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 25 | -2,000 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 26 | 6.2 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 27 | 856,767 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 28 | 2.98 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 29 | 856,767 |
Shareholders Equity Schedule Of Share-based Compensation, Stock Options, Activity 30 | 2.98 |
Schedule_of_Nonvested_Stock_Op
Schedule of Non-vested Stock Option Activity and Related Information (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 1 | 7,510 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 2 | 3.5 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 3 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 4 | $0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 5 | 7,510 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 6 | 3.5 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 7 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 8 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 9 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 10 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 11 | 0 |
Shareholders Equity Schedule Of Non-vested Stock Option Activity And Related Information 12 | $0 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | 0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | $0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 25,000 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 3.4 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | 0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | $0 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | 25,000 |
Shareholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 3.4 |
Schedule_of_Weighted_Average_N
Schedule of Weighted Average Number of Shares (Details) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 1 | 2,922,684 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 2 | 2,929,722 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 3 | 3,012,647 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 4 | 270,279 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 5 | 316,501 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 6 | 302,115 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 7 | 3,192,963 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 8 | 3,246,223 |
Shareholders Equity Schedule Of Weighted Average Number Of Shares 9 | 3,314,762 |
Schedule_of_Earnings_loss_per_
Schedule of Earnings (loss) per common share (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 1 | 335,582 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 2 | 1,163,295 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 3 | 591,304 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 4 | -196,428 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 5 | 39,304 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 6 | -18,252 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 7 | 139,154 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 8 | 1,202,599 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 9 | 573,052 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 10 | 0.11 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 11 | 0.4 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 12 | 0.2 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 13 | 0.04 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 14 | 0.37 |
Shareholders Equity Schedule Of Earnings (loss) Per Common Share 15 | 0.17 |
Schedule_of_Derivative_Liabili
Schedule of Derivative Liabilities at Fair Value (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 1 | 284,195 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 2 | 244,891 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 3 | 263,143 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 4 | 32,570 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 5 | 0 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 6 | 0 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 7 | -196,428 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 8 | 39,304 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 9 | -18,252 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 10 | 120,337 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 11 | 284,195 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 12 | 244,891 |
Schedule_of_Income_before_Inco
Schedule of Income before Income Tax, Domestic and Foreign (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 1 | 461,075 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 2 | 1,441,059 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 3 | 1,017,263 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 4 | -16,528 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 5 | -22,356 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 6 | -119,307 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 7 | 444,547 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 8 | 1,418,703 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 9 | 897,956 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 10 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 11 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 12 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 13 | 108,965 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 14 | 255,408 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 15 | 306,652 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 16 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 17 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 18 | 0 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 19 | 108,965 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 20 | 255,408 |
Income Tax Schedule Of Income Before Income Tax, Domestic And Foreign 21 | 306,652 |
Schedule_of_Effective_Income_T
Schedule of Effective Income Tax Rate Reconciliation (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 1 | 115,582 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 2 | 367,903 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 3 | 220,492 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 4 | -4,297 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 5 | -3,360 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 6 | -16,690 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 7 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 8 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 9 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 10 | -174,257 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 11 | -236,464 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 12 | -150,732 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 13 | -37,861 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 14 | 26,232 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 15 | 37,979 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 16 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 17 | 0 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 18 | 42,380 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 19 | -156,542 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 20 | 38,652 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 21 | 167,418 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 22 | 257,639 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 23 | 176,951 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 24 | 108,965 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 25 | 255,408 |
Income Tax Schedule Of Effective Income Tax Rate Reconciliation 26 | 306,652 |
Schedule_of_Components_of_Inco
Schedule of Components of Income Tax Expense (Benefit) (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 1 | 5,168,877 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 2 | 4,907,476 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 3 | 612,706 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 4 | 821,547 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 5 | 114,965 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 6 | 113,355 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 7 | -801 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 8 | -1,068 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 9 | 4,017 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 10 | 0 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 11 | 5,899,764 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 12 | 5,841,310 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 13 | -3,856,161 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 14 | -3,688,743 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 15 | 2,043,603 |
Income Tax Schedule Of Components Of Income Tax Expense (benefit) 16 | 2,152,567 |
Schedule_of_Future_Minimum_Ren
Schedule of Future Minimum Rental Payments for Operating Leases (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 1 | 767,994 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 2 | 784,375 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 3 | 504,025 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 4 | 111,535 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 5 | 118,838 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 6 | 359,958 |
Commitments Schedule Of Future Minimum Rental Payments For Operating Leases 7 | 2,646,725 |
Longterm_Purchase_Obligations_
Long-term Purchase Obligations (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Commitments Long-term Purchase Obligations 1 | 145,987 |
Commitments Long-term Purchase Obligations 2 | 152,702 |
Commitments Long-term Purchase Obligations 3 | 25,944 |
Commitments Long-term Purchase Obligations 4 | 1,399 |
Commitments Long-term Purchase Obligations 5 | 0 |
Commitments Long-term Purchase Obligations 6 | 0 |
Commitments Long-term Purchase Obligations 7 | 326,032 |
Schedule_of_Related_Party_Tran
Schedule of Related Party Transactions (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Related Party Transactions Schedule Of Related Party Transactions 1 | 84,000 |
Related Party Transactions Schedule Of Related Party Transactions 2 | 84,000 |
Related Party Transactions Schedule Of Related Party Transactions 3 | 84,000 |
Related Party Transactions Schedule Of Related Party Transactions 4 | 528,000 |
Related Party Transactions Schedule Of Related Party Transactions 5 | 528,000 |
Related Party Transactions Schedule Of Related Party Transactions 6 | 528,000 |
Related Party Transactions Schedule Of Related Party Transactions 7 | 124,225 |
Related Party Transactions Schedule Of Related Party Transactions 8 | 80,900 |
Related Party Transactions Schedule Of Related Party Transactions 9 | 80,800 |
Related Party Transactions Schedule Of Related Party Transactions 10 | 183,186 |
Related Party Transactions Schedule Of Related Party Transactions 11 | 111,519 |
Related Party Transactions Schedule Of Related Party Transactions 12 | 89,493 |
Related Party Transactions Schedule Of Related Party Transactions 13 | 150,000 |
Related Party Transactions Schedule Of Related Party Transactions 14 | 150,000 |
Related Party Transactions Schedule Of Related Party Transactions 15 | 271,400 |
Related Party Transactions Schedule Of Related Party Transactions 16 | 4,449 |
Related Party Transactions Schedule Of Related Party Transactions 17 | 5,355 |
Related Party Transactions Schedule Of Related Party Transactions 18 | 3,763 |
Related Party Transactions Schedule Of Related Party Transactions 19 | 15,026 |
Related Party Transactions Schedule Of Related Party Transactions 20 | 0 |
Related Party Transactions Schedule Of Related Party Transactions 21 | 0 |
Schedule_of_Fair_Value_Assets_
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (CAD) | 12 Months Ended |
Feb. 28, 2015 | |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 1 | 1,702,922 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 2 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 3 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 4 | 1,702,922 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 5 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 6 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 7 | -120,337 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 8 | -120,337 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 9 | 1,702,922 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 10 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 11 | -120,337 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 12 | 1,582,585 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 1 | 2,393,784 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 2 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 3 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 4 | 2,393,784 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 5 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 6 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 7 | -284,195 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 8 | -284,195 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 9 | 2,393,784 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 10 | 0 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 11 | -284,195 |
Fair Value Of Financial Instruments Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis 12 | -2,109,589 |