Prepaid Expenses and Deposits |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Feb. 28, 2023 | |||||||||||||||||||||||||||||||||||||
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| Prepaid Expenses And Deposits | 5. Prepaid Expenses and Deposits
As at February 28, 2023, the Company had $3,395,650 (2022 – $2,801,680) of non-refundable cash deposits on long-lead machinery and equipment that are intended to be used in the first planned Infinite Loop™ manufacturing facility.
Prepaid expenses and other deposits as at February 28, 2023 and February 28, 2022 were as follows:
The deposit for insurance represents a pre-payment of the final three months of the Company’s directors and officers’ insurance annual premium.
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