DEFERRED VARIABLE PAYMENT OBLIGATION (Details Narrative) - USD ($) |
3 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 01, 2021 |
Aug. 27, 2020 |
Jul. 01, 2020 |
Apr. 22, 2020 |
Feb. 29, 2020 |
Dec. 30, 2019 |
Nov. 18, 2019 |
May 09, 2019 |
Feb. 01, 2019 |
May 31, 2021 |
Feb. 28, 2025 |
Feb. 29, 2024 |
May 31, 2020 |
|
Maximum amount of debt | $ 32,801,346 | ||||||||||||
Accrued payment | 1,901,258 | $ 904,377 | |||||||||||
Default on payments | 904,377 | 542,176 | |||||||||||
Aggregate investment | $ 1,925,000 | ||||||||||||
Total payment obligation | 2,525,000 | 2,525,000 | |||||||||||
Payment receive | $ 0 | 0 | |||||||||||
Investors [Member] | |||||||||||||
Maximum amount of debt | $ 900,000 | ||||||||||||
Percentage of exchange rate | 9.00% | ||||||||||||
Debt instrument, date of first required payment | Feb. 29, 2020 | ||||||||||||
Maximum amount of debt | $ 900,000 | ||||||||||||
Investor One [Member] | |||||||||||||
Maximum amount of debt | 400,000 | $ 400,000 | |||||||||||
Percentage of exchange rate | 4.00% | ||||||||||||
Investor Two [Member] | |||||||||||||
Maximum amount of debt | 50,000 | $ 50,000 | |||||||||||
Percentage of exchange rate | 1.11% | ||||||||||||
Investor [Member] | |||||||||||||
Maximum amount of debt | $ 800,000 | $ 100,000 | $ 100,000 | ||||||||||
Percentage of exchange rate | 14.25% | 2.75% | 1.00% | 1.00% | 2.25% | ||||||||
Maximum amount of debt | $ 1,925,000 | 109,000 | $ 225,000 | ||||||||||
Description of variable payments terms | If the Payments would deplete RAD’s available cash by more than 20%, the payment may be deferred. The investor had agreed to pay $100,000 per month over an 8 month period with the first payment due July 2020 and the final payment no later than February 28, 2021. As at August 31, 2020 the investor had fully funded the $800,000 commitment | These variable payments (Payments) are to be made 30 days after the end of each fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount. | |||||||||||
Advance amount | $ 116,000 | ||||||||||||
Investor received advanced | $ 50,000 | ||||||||||||
Percentage of exchange rate | 10.00% | ||||||||||||
Description of disposition price | The FMV cannot exceed 43.77% of the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments. As of March 1, 2021 as a result of the amendment with the first investor noted below. This aggregate asset disposition % was reduced from 43.77 % to 33.77% | ||||||||||||
Investor [Member] | Series F Preferred Stock [Member] | |||||||||||||
Shares issued | 40 | ||||||||||||
Warrants issued | 367 | ||||||||||||
Exercise price | $ 1.00 | ||||||||||||
Warrants exercised | 38 | ||||||||||||
Fair Value Adjustment of Warrants | $ 33,015,214 | ||||||||||||
Investor [Member] | Maximum [Member] | |||||||||||||
Percentage of exchange rate | 14.25% | ||||||||||||
Percentage of total asset disposition price | 31.00% | ||||||||||||
Investor [Member] | Minimum [Member] | |||||||||||||
Percentage of exchange rate | 9.65% | ||||||||||||
Percentage of total asset disposition price | 21.00% | ||||||||||||
Investor [Member] | Agreement One [Member] | |||||||||||||
Maximum amount of debt | $ 900,000 | ||||||||||||
Investor [Member] | Agreement Two [Member] | |||||||||||||
Maximum amount of debt | 225,000 | ||||||||||||
Investor [Member] | Agreement Three [Member] | |||||||||||||
Maximum amount of debt | $ 800,000 | ||||||||||||
Investor Eight [Member] | |||||||||||||
Total payment obligation | $ 2,525,000 | $ 2,525,000 |