DEBT (Tables)
 3 Months Ended
May 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Debt consists of the following:


   

2020

  
   

May 30,

    

February 29,

  
                 

Line of credit

   $ -     $ -  
                 
                 

Long-term debt

   $ 18,548,300     $ 18,811,700  

Less current maturities

     (1,126,100

)

     (1,027,400

)

Long-term debt, net of current maturities

   $ 17,422,200     $ 17,784,300  
Schedule of Long-term Debt Instruments [Table Text Block]
Tranche B of Term Loan #1, Term Loan #2 and the line of credit accrue interest at a tiered rate based on our Adjusted Funded Debt to EBITDA Ratio, which is payable monthly. The variable interest pricing tier is as follows:


Pricing Tier

 

Adjusted Funded Debt to EBITDA Ratio

 

LIBOR Margin (bps)

I

 

>2.00

 

300.00

II

 

>1.50 but <2.00

 

275.00

III

 

>1.00 but <1.50

 

250.00

IV

 

<1.00

 

225.00
Schedule of Maturities of Long-term Debt [Table Text Block]
The following table reflects aggregate future scheduled maturities of long-term debt during the next five fiscal years and thereafter as follows:


Year ending February 28 (29),

        

2021

   $ 837,000  

2022

     1,155,500  

2023

     1,195,500  

2024

     1,237,100  

2025

     1,278,600  

Thereafter

     12,844,600  

    Total

   $ 18,548,300