STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
|
6 Months Ended |
Aug. 31, 2016 |
Aug. 31, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net (Loss)/Income |
$ (315,928)
|
$ 270,574
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Amortization of deferred compensation cost |
14,000
|
14,000
|
| Stock based compensation expense |
107,242
|
|
| Depreciation and amortization |
143,855
|
134,813
|
| Deferred capital gain - building lease |
(11,240)
|
(11,240)
|
| Deferred taxes |
(30,289)
|
(4,760)
|
| Loss on disposal of fixed assets |
|
13,324
|
| Provision for returns and doubtful accounts |
(14,102)
|
152
|
| Changes in operating assets and liabilities: |
|
|
| Decrease in accounts receivable |
19,013
|
214,083
|
| Increase in inventory |
(33,571)
|
(69,073)
|
| Increase in prepaid expense |
(100,600)
|
(18,039)
|
| Increase in other assets |
(350)
|
|
| Increase in accounts payable |
402,269
|
66,579
|
| Decrease in accrued payroll and related taxes |
(39,546)
|
(16,956)
|
| Increase in accrued expense |
72,518
|
66,468
|
| (Decrease) Increase in accrued tax liability |
(129,497)
|
44,307
|
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
83,774
|
704,232
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Payments for property and equipment |
(105,440)
|
(100,110)
|
| Proceeds on disposal of fixed assets |
|
13,550
|
| Payments for patents |
(93,600)
|
(17,887)
|
| NET CASH USED IN INVESTING ACTIVITIES |
(199,040)
|
(104,447)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Purchase of treasury stock |
(120,577)
|
|
| NET CASH USED IN FINANCING ACTIVITIES |
(120,577)
|
|
| NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS |
(235,843)
|
599,785
|
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD |
4,201,949
|
2,557,235
|
| CASH AND CASH EQUIVALENTS, END OF PERIOD |
3,966,106
|
3,157,020
|
| Cash paid during the periods for: |
|
|
| Interest |
|
|
| Taxes |
|
|
| NON-CASH FINANCING AND INVESTING ACTIVITIES |
|
|
| Issuance of common stock as compensation |
|
|