| Prepaid Expenses and Other Current Assets |
5.
Prepaid Expenses and Other Current Assets
Schedule
of Prepaid Expenses and Other Current Assets
| | |
May 31, 2026 | | |
February 28, 2026 | |
| Prepayment to vendors | |
| 904,108 | | |
| 935,381 | |
| Prepayment for rental | |
| - | | |
| 115 | |
| Deposit (a) | |
| 3,238,680 | | |
| 3,188,237 | |
| Loan receivable (b) | |
| 399,437 | | |
| 389,262 | |
| Advances to employees | |
| 175,191 | | |
| 180,875 | |
| Other | |
| 389,965 | | |
| 380,771 | |
| VAT | |
| 11,929 | | |
| 18,251 | |
| Total | |
| 5,119,310 | | |
| 5,092,892 | |
| Allowance for doubtful debt | |
| (3,251,041 | ) | |
| (3,207,570 | ) |
| Total | |
| 1,868,269 | | |
| 1,885,322 | |
| (a) |
Deposit and allowance for doubtful debt primarily consisted of deposits of RMB20,000,000 (US$2,955,869) paid to a third party under an agreement to establish a subsidiary in Zhejiang Province engaged in data security testing, certification, and technical consulting for intelligent connected vehicles. Under the agreement, the third party was required to complete the Company's due diligence assessment by February 15, 2025 and obtain approval to establish the subsidiary by September 5, 2025, failing which the deposits were refundable. As the third party did not complete the due diligence assessment by the required date, the agreement was suspended. To date, no refund had been received, and the Company recorded a full allowance for doubtful debt of US$2,955,869. |
| (b) |
Loan
receivables are loans lent to third parties. All loans are interest free and will be repaid on demand. |
|