v3.22.4
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Nov. 30, 2022
Feb. 28, 2022
Current Assets    
Cash and cash equivalents $ 3,216,132 $ 7,587,374
Accounts receivable, less allowance for doubtful accounts of $837,568 and $870,735, respectively 3,227,617 1,967,914
Notes receivable, current portion, less current portion of the valuation allowance of $34,704 and $47,228, respectively 21,133 8,680
Refundable income taxes 432,749 736,528
Inventories 6,195,929 4,354,202
Other 451,929 343,268
Total current assets 13,545,489 14,997,966
Property and Equipment, Net 5,751,858 5,499,890
Other Assets    
Notes receivable, less current portion and valuation allowance of $47,247 and $65,059, respectively 95,686 0
Goodwill, net 729,701 729,701
Franchise rights, net 1,800,769 2,078,066
Intangible assets, net 323,937 353,685
Deferred income taxes, net 0 1,388,271
Lease right of use asset 2,547,035 1,771,034
Other 48,115 62,148
Total other assets 5,545,243 6,382,905
Total Assets 24,842,590 26,880,761
Current Liabilities    
Accounts payable 3,501,983 1,579,917
Accrued salaries and wages 777,378 2,125,430
Gift card liabilities 546,475 574,883
Other accrued expenses 339,877 239,644
Contract liabilities 198,357 195,961
Lease liability 780,256 595,897
Total current liabilities 6,144,326 5,311,732
Lease Liability, Less Current Portion 1,801,795 1,218,256
Contract Liabilities, Less Current Portion 993,119 950,847
Commitments and Contingencies
Stockholders' Equity    
Preferred stock, $.001 par value per share; 250,000 authorized; -0- shares issued and outstanding 0 0
Common stock, $.001 par value, 46,000,000 shares authorized, 6,238,776 shares and 6,186,356 shares issued and outstanding, respectively 6,239 6,186
Additional paid-in capital 9,278,407 8,806,930
Retained earnings 6,618,704 10,586,810
Total stockholders' equity 15,903,350 19,399,926
Total Liabilities and Stockholders' Equity $ 24,842,590 $ 26,880,761

Source