v3.26.1
Note 9 - Income Taxes (Tables)
12 Months Ended
Feb. 28, 2026
Notes Tables  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

2026

      

2025

     

Net Income Before Taxes

 $1,096,000      $993,000     
                 

Provision at statutory rate

  230,000   21.0%  208,000   21.0%

State Tax Provision net of federal benefit

  36,000   3.3%  36,000   3.7%

Permanent Book/Tax Differences

  3,000   0.2%  3,000   0.3%

True-Up & Adjustments

  20,000   1.8%  (69,000)  -6.9%

Income Tax Provision

  289,000   26.3%  178,000   18.1%

Effective income tax rate

                
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred Tax Asset:

 

2026

  

2025

 

Accrued Liabilities

 $88,000  $65,000 

Inventory Allowance

  1,226,000   1,211,000 

Allowance for Sales Reserve

  64,000   76,000 

Net Operating Loss Carryforwards

  1,061,000   1,589,000 

Capitalized R&D

  36,000   56,000 

R&D Credit Carryforward

  50,000   50,000 

Unrealized Gains

  19,000   (94,000)

MEI accrual to cash

  (45,000)  (90,000)

Net book value of intangible assets

  (657,000)  (696,000)

Prepaid expenses

  (30,000)  (26,000)

Net Book Value of Fixed Assets

  (480,000)  (519,000)

Total Deferred Tax Assets

  1,332,000   1,622,000 

Valuation allowance

  -   - 
  $1,332,000  $1,622,000 
Summary of Operating Loss Carryforwards [Table Text Block]

Fiscal Year Ending February 28/29

 

Amount

 

2029

 $216,000 

2037

  322,000 

2038

  188,000 

indefinite

  3,806,000 

Total

 $4,532,000