BALANCE SHEETS (USD $)
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Feb. 28, 2015
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Feb. 28, 2014
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CURRENT ASSETS | ||
Cash and cash equivalents | $ 2,557,235us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 2,227,398us-gaap_CashAndCashEquivalentsAtCarryingValue |
Certificates of deposit | 259,789us-gaap_DepositsAssetsCurrent | 258,590us-gaap_DepositsAssetsCurrent |
Accounts receivable less allowance for doubtful accounts of $29,865 and $26,450 for February 28, 2015, and February 28, 2014, respectively | 1,623,695us-gaap_AccountsReceivableNetCurrent | 1,744,813us-gaap_AccountsReceivableNetCurrent |
Inventory | 1,226,636us-gaap_InventoryNet | 818,723us-gaap_InventoryNet |
Prepaid expenses | 240,688us-gaap_PrepaidExpenseCurrent | 245,767us-gaap_PrepaidExpenseCurrent |
Total Current Assets | 5,908,043us-gaap_AssetsCurrent | 5,295,291us-gaap_AssetsCurrent |
Property & Equipment, net | 1,161,432us-gaap_PropertyPlantAndEquipmentNet | 839,059us-gaap_PropertyPlantAndEquipmentNet |
Patents, net of accumulated amortization of $134,552 and $119,436 at February 28, 2015 and February 28, 2014, respectively | 180,558us-gaap_IntangibleAssetsNetExcludingGoodwill | 43,305us-gaap_IntangibleAssetsNetExcludingGoodwill |
Other Assets | 31,140us-gaap_OtherAssetsNoncurrent | 31,053us-gaap_OtherAssetsNoncurrent |
TOTAL ASSETS | 7,281,173us-gaap_Assets | 6,208,708us-gaap_Assets |
CURRENT LIABILITIES | ||
Deferred capital gain - current portion | 22,481us-gaap_OtherDeferredCreditsCurrent | 22,481us-gaap_OtherDeferredCreditsCurrent |
Accounts payable | 243,217us-gaap_AccountsPayableCurrent | 246,622us-gaap_AccountsPayableCurrent |
Accrued expenses | 304,041us-gaap_AccruedLiabilitiesCurrent | 263,465us-gaap_AccruedLiabilitiesCurrent |
Accrued payroll and related taxes | 121,917us-gaap_EmployeeRelatedLiabilitiesCurrent | 72,976us-gaap_EmployeeRelatedLiabilitiesCurrent |
Accrued income tax liability | 166,358us-gaap_TaxesPayableCurrent | |
Total Current Liabilities | 691,656us-gaap_LiabilitiesCurrent | 771,902us-gaap_LiabilitiesCurrent |
Deferred capital gain - less current portion | 67,454us-gaap_OtherDeferredCreditsNoncurrent | 89,936us-gaap_OtherDeferredCreditsNoncurrent |
Deferred tax liability | 248,607us-gaap_DeferredTaxLiabilitiesNoncurrent | 155,000us-gaap_DeferredTaxLiabilitiesNoncurrent |
Total Liabilities | 1,007,717us-gaap_Liabilities | 1,016,838us-gaap_Liabilities |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.01 par value, 50,000,000 shares authorized, 40,347,292 and 38,936,667 shares issued; 38,006,667 and 36,661,667 shares outstanding at February 28, 2015, and February 28, 2014, respectively | 403,473us-gaap_CommonStockValue | 389,367us-gaap_CommonStockValue |
Additional paid-in capital | 3,855,188us-gaap_AdditionalPaidInCapitalCommonStock | 3,512,294us-gaap_AdditionalPaidInCapitalCommonStock |
Retained earnings | 2,237,076us-gaap_RetainedEarningsAccumulatedDeficit | 1,483,959us-gaap_RetainedEarningsAccumulatedDeficit |
Total Stockholders' Equity before Treasury Stock | 6,495,737us-gaap_StockholdersEquityBeforeTreasuryStock | 5,385,620us-gaap_StockholdersEquityBeforeTreasuryStock |
Less: Treasury stock, 2,340,625 shares and 2,275,000 shares at February 28, 2015, and February 28, 2014, respectively, at cost | (166,281)us-gaap_TreasuryStockValue | (142,000)us-gaap_TreasuryStockValue |
Less: Deferred compensation cost | (56,000)us-gaap_DeferredCompensationEquity | (51,750)us-gaap_DeferredCompensationEquity |
Total Stockholders' Equity | 6,273,456us-gaap_StockholdersEquity | 5,191,870us-gaap_StockholdersEquity |
Total Liabilities and Stockholders' Equity | $ 7,281,173us-gaap_LiabilitiesAndStockholdersEquity | $ 6,208,708us-gaap_LiabilitiesAndStockholdersEquity |
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value of stock issued under share-based plans to employees or officers which is the unearned portion, accounted for under the fair value method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment within one year or during the operating cycle, if shorter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total amount of stockholders' equity (deficit) items including stock value, paid in capital, retained earnings and including equity attributable to noncontrolling interests and before deducting the carrying value of treasury stock. No definition available.
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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