v3.25.1
Consolidated Balance Sheets - USD ($)
Feb. 28, 2025
Feb. 29, 2024
Current assets:    
Cash $ 865,975 $ 105,926
Accounts receivable, net 1,367,331 756,084
Share proceeds receivable 418,669
Device parts inventory, net 1,583,726 2,131,599
Prepaid expenses and deposits 792,842 622,957
Total current assets 5,028,543 3,616,566
Operating lease asset 1,010,545 1,139,188
Revenue earning devices, net of accumulated depreciation of $2,292,172 and 952,844, respectively 4,539,180 2,480,002
Fixed assets, net of accumulated depreciation of $491,186 and $349,878, respectively 258,328 268,075
Trademarks 33,321 27,080
Investment at cost 100,000 50,000
Security deposit 15,880 15,880
Total assets 10,985,797 7,596,791
Current liabilities:    
Accounts payable and accrued expenses 2,121,871 2,034,301
Customer deposits 91,578 73,702
Current operating lease liability 197,349 237,653
Current portion of deferred variable payment obligation 1,901,258 904,377
Loan payable - related party 329,365 257,438
Deferred compensation for CEO 2,202,600 538,767
Current portion of loans payable, net of discount of $0 and $688,598 519,105 13,190,882
Vehicle loan - current portion 38,522
Current portion of accrued interest payable 213,555 4,440,009
Total current liabilities 7,576,681 21,715,651
Non-current operating lease liability 810,513 889,360
Loans payable, net of discount of $360,163 and $4,118,332, respectively 31,922,078 14,798,532
Deferred variable payment obligation 2,525,000 2,525,000
Incentive compensation plan payable 4,000,000 2,500,000
Accrued interest payable 13,680,453 5,367,805
Total liabilities 60,514,725 47,796,348
Commitments and Contingencies
Stockholders’ deficit:    
Preferred Stock, value
Common Stock, $0.00001 par value; 20,000,000,000 shares authorized 14,412,453,768 and 9,238,750,958 shares issued, issuable and outstanding, respectively 144,125 92,388
Additional paid-in capital 106,316,844 92,565,513
Preferred stock to be issued 99,086 99,086
Accumulated deficit (156,496,930) (132,962,427)
Total stockholders’ deficit (49,931,012) (40,199,557)
Total liabilities and stockholders’ deficit 10,985,797 7,596,791
Series B Redeemable Preferred Stock [Member]    
Current liabilities:    
Convertible Redeemable Preferred  Stock, value
Series C Redeemable Preferred Stock [Member]    
Current liabilities:    
Convertible Redeemable Preferred  Stock, value 402,084
Series G Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred Stock, value
Series E Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred Stock, value 3,350 3,350
Series F Preferred Stock [Member]    
Stockholders’ deficit:    
Preferred Stock, value $ 2,513 $ 2,533