v3.26.3
Lease Liabilities
6 Months Ended
Aug. 31, 2026
Leases [Abstract]  
Lease Liabilities
8.            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 August 31, 2026:
 
 
 
Building Lease
 
 
 
(Operating Lease)
 
Years ending February 28:
 
 
 
 
2027
 
$
13,632
 
2028
 
 
25,742
 
Net minimum lease payments
 
 
39,374
 
Less: amount representing interest payments
 
 
(3,095
)
Present value of net minimum lease payments
 
 
36,279
 
Less: current portion
 
 
(24,846
)
Long-term portion
 
$
11,433