v3.25.2
Share-Based Payments (Tables)
3 Months Ended
May 31, 2025
Share-based Payments  
Schedule of stock options

 

 

2025

 

 

2024

 

 

 

Number of stock options

 

 

Weighted average exercise price

 

 

Number of stock options

 

 

Weighted average exercise price

 

Outstanding, beginning of period

 

 

2,771,216

 

 

$5.25

 

 

 

2,772,000

 

 

$5.10

 

Granted

 

 

2,801,922

 

 

 

1.16

 

 

 

199,216

 

 

 

2.89

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding, end of period

 

 

5,573,138

 

 

$3.19

 

 

 

2,971,216

 

 

$4.95

 

Exercisable, end of period

 

 

2,711,727

 

 

$4.98

 

 

 

1,890,000

 

 

$6.39

 

Schedule of assumptions used

 

 

2025

 

 

2024

 

Exercise price

 

$

1.16

 

 

 

2.89

 

Risk-free interest rate

 

3.68% –  3.72%

 

 

 

4.09%

Expected dividend yield

 

 

0%

 

 

0%

Expected volatility

 

81% –  82%

 

 

 

73%

Expected life

 

3.5 – 5.0 years

 

 

7 years

 

Schedule of stock options nonvested

 

 

Number of stock options

 

 

Weighted-average grant-date fair value

 

Nonvested, beginning of period

 

 

731,216

 

 

$1.88

 

Granted

 

 

2,270,000

 

 

 

0.64

 

Exercised

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

Vested

 

 

(139,805)

 

 

2.09

 

Nonvested, end of period

 

 

2,861,411

 

 

$0.89

 

Schedule of restricted stock units

 

 

2025

 

 

2024

 

 

 

Number of units

 

 

Weighted average fair value price

 

 

Number of units

 

 

Weighted average fair value price

 

Outstanding, beginning of period

 

 

4,466,958

 

 

$6.32

 

 

 

4,368,897

 

 

$6.53

 

Granted

 

 

-

 

 

 

-

 

 

 

40,000

 

 

 

2.85

 

Settled

 

 

(98,087)

 

 

3.41

 

 

 

(9,837)

 

 

8.31

 

Forfeited

 

 

(387,750)

 

 

2.87

 

 

 

-

 

 

 

-

 

Outstanding, end of period

 

 

3,981,121

 

 

$6.73

 

 

 

4,399,060

 

 

$6.49

 

Outstanding vested, end of period

 

 

1,689,255

 

 

$6.02

 

 

 

1,727,575

 

 

$6.07