v3.26.1
Note 6 - Property, Plant and Equipment, Net
 12 Months Ended
Feb. 28, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

6. Property, Plant and Equipment, net

 

  

As at February 28, 2026

 
      

Accumulated

     
      

depreciation,

     
      

write-down and

     
  

Cost

  

impairment

  

Net book value

 

Machinery and equipment – pre-construction

 $8,460  $(8,460) $- 

Building

  1,817   (490)  1,327 

Land

  225   -   225 

Building and Land Improvements

  1,843   (1,780)  63 

Office equipment and furniture

  274   (190)  84 
  $12,619  $(10,920) $1,699 

 

 

  

As at February 28, 2025

 
      

Accumulated

     
      

depreciation,

     
      

write-down and

     
  

Cost

  

impairment

  

Net book value

 

Machinery and equipment – pre-construction

 $8,460  $(8,460) $- 

Building

  1,717   (406)  1,311 

Land

  212   -   212 

Building and Land Improvements

  1,741   (1,616)  125 

Office equipment and furniture

  259   (170)  89 
  $12,389  $(10,652) $1,737 

 

During the year ended February 28, 2025 the Company recorded an impairment charge for equipment of $8,460. This impairment was due to the termination of the joint venture arrangement between the Company and SK Geo Centric Co. Ltd. under which they had intended to construct and operate an Infinite Loop™ manufacturing facility in Ulsan, South Korea. While the equipment may be utilized in a future commercial production facility, there are no active deployment plans for the use of this specific equipment, therefore the recoverability of the carrying value of the equipment is highly uncertain, and when tested for impairment, resulted in an impairment loss of $8,460 being recognized in the year ended February 28, 2025.

 

Depreciation expense amounted to $137 for the year ended February 28, 2026 (2025 – $322).