v3.25.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Feb. 28, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Assets and Liabilities at Fair Value

The following table sets forth by level, within the fair value hierarchy, the Company’s assets and liabilities at fair value as of February 28, 2025 and February 29, 2024:

 

   February 28, 2025 
(amounts in thousands)  Level 1   Level 2   Level 3   Total 
Liabilities                
Derivative liability – convertible note conversion option  $
      -
   $
      -
   $17,565   $17,565 
Total  $
-
   $
-
   $17,565   $17,565 

 

   February 29, 2024 
   Level 1   Level 2   Level 3   Total 
Liabilities                
Derivative liability  $
       -
   $
        -
   $
      -
   $
       -
 
Total  $
-
   $
-
   $
-
   $
-
 
Schedule of Derivative Liability Measured at Fair Value

The following table provides a roll-forward of the derivative liability measured at fair value on a recurring basis using unobservable level 3 inputs for the period ended February 28, 2025, as follows:

 

(amounts in thousands)  Fair Value of
Derivative
Warrant
Liability
 
February 29, 2024  $
-
 
Recognition of derivative liability for a convertible note payable conversion option   22,194 
Change in fair value of derivative liability   (4,629)
February 28, 2025  $17,565 
Schedule of Antidilutive Securities from Computation of Earnings per Share

For the years ended February 28, 2025, and February 29, 2024, the calculations of basic and diluted loss per share are the same because potential dilutive securities would have had an anti-dilutive effect. The potentially dilutive securities consisted of the following:

 

   February 28,
2025
  

February 29,

2024

 
Warrants   6,511,664    3,521,664 
Options   8,250,000    4,250,000 
Convertible notes   59,092,024    4,685,445 
Total   73,853,688    12,457,109