Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Nov. 30, 2021 |
Nov. 30, 2020 |
| Cash Flows From Operating Activities |
|
|
| Net Loss |
$ (700,908)
|
$ (3,067,570)
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
904,972
|
1,004,539
|
| Provision for obsolete inventory |
103,422
|
41,433
|
| Provision for loss on accounts and notes receivable |
0
|
1,468,815
|
| Asset impairment and store closure losses |
0
|
544,060
|
| Gain on sale or disposal of property and equipment |
(153,129)
|
(199,774)
|
| Forgiveness of indebtedness |
0
|
(107,700)
|
| Expense recorded for stock compensation |
709,210
|
399,636
|
| Deferred income taxes |
(426,041)
|
(990,129)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(985,887)
|
435,536
|
| Refundable income taxes |
1,168
|
(3,252)
|
| Inventories |
(936,483)
|
(1,262,189)
|
| Other current assets |
(105,851)
|
101,436
|
| Accounts payable |
1,079,671
|
(376,375)
|
| Accrued liabilities |
1,343,856
|
12,613
|
| Contract liabilities |
23,048
|
(13,688)
|
| Net cash (used in) provided by operating activities |
857,048
|
(2,012,609)
|
| Cash Flows from Investing Activities |
|
|
| Proceeds received on notes receivable |
98,918
|
69,583
|
| Purchase of intangible assets |
0
|
(99,048)
|
| Proceeds from insurance recovery |
206,336
|
304,962
|
| Proceeds from sale or distribution of assets |
1,751
|
0
|
| Purchases of property and equipment |
(704,462)
|
(77,059)
|
| Increase in other assets |
(10,000)
|
0
|
| Net cash (used in) provided by investing activities |
(407,457)
|
198,438
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from long-term debt |
0
|
1,537,200
|
| Proceeds from the line of credit |
0
|
3,448,165
|
| Dividends paid and redemption of outstanding preferred stock purchase rights |
(61,276)
|
(722,344)
|
| Net cash provided by (used in) financing activities |
(61,276)
|
4,263,021
|
| Net Increase (Decrease) in Cash and Cash Equivalents |
388,315
|
2,448,850
|
| Cash and Cash Equivalents, Beginning of Period |
5,633,279
|
4,822,071
|
| Cash and Cash Equivalents, End of Period |
$ 6,021,594
|
$ 7,270,921
|