v3.26.1
Lease Liabilities
12 Months Ended
Feb. 28, 2026
Leases [Abstract]  
Lease Liabilities
7.
Lease Liabilities
 
On February 1, 2025, the Company entered a one-year lease with a two-year renewal option for office space in South Africa. Rental payments are due at the beginning of each month and increase at an annual escalation rate of 6%. On January 19, 2026, the Company entered into an amendment to the original lease which amended the annual escalation rate to 4%. The base monthly rental rate is $2,078 (R36,225). The interest rate underlying the obligation in the lease was 11% per annum.
 
The following is a schedule by years of future minimum lease payments under the remaining finance leases together with the present value of the net minimum lease payments as of February 28, 2026:
 
Years ending February 28:
 
Building Lease
(Operating Lease)
 
 
 
 
 
 
2027
 
$
27,534
 
2028
 
 
26,171
 
 
 
 
 
 
Net minimum lease payments
 
 
53,705
 
Less: amount representing interest payments
 
 
(5,539
)
 
 
 
 
 
Present value of net minimum lease payments
 
 
48,166
 
Less: current portion
 
 
(23,383
)
 
 
 
 
 
Long-term portion
 
$
24,783