STOCK OPTIONS AND WARRANTS |
3 Months Ended | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 31, 2025 | |||||||||||||||||||||||
| STOCK OPTIONS AND WARRANTS | |||||||||||||||||||||||
| STOCK OPTIONS AND WARRANTS |
At May 31, 2025, the Company had one stock-based employee compensation plan, which is described below. On September 14, 1996, the Company granted 600,000 stock options, with an exercise price of $0.35 per share, to an officer who is no longer with the Company. The options vested as follows:
The options are valid in perpetuity. None of the options have been exercised as of May 31, 2025. The Company accounts for share-based payments to non-employees in accordance with the guidance provided by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation to include share-based payments granted to non-employees in exchange for goods or services used or consumed in an entity’s own operations. |