Document And Entity Information
Document And Entity Information | 6 Months Ended |
Aug. 31, 2021shares | |
Document Information [Line Items] | |
Entity Central Index Key | 0001295961 |
Entity Registrant Name | QUANTUM ENERGY INC. |
Amendment Flag | true |
Current Fiscal Year End Date | --02-28 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2022 |
Document Type | 10-Q/A |
Document Quarterly Report | true |
Document Period End Date | Aug. 31, 2021 |
Document Transition Report | false |
Entity File Number | 333-225892 |
Entity Incorporation, State or Country Code | NV |
Entity Tax Identification Number | 98-0428608 |
Entity Address, Address Line One | 3805 Rockbottom |
Entity Address, City or Town | North Las Vegas |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89030 |
City Area Code | 702 |
Local Phone Number | 323-6455 |
Title of 12(b) Security | Common stock, $0.001 Par Value |
Trading Symbol | QEGY |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 49,491,498 |
Amendment Description | This amendment is being filed solely for the purpose of including the XBRL Exhibits. |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Aug. 31, 2021 | Feb. 28, 2021 |
Current Assets | ||
Cash | $ 4,875,889 | $ 1,969,508 |
Stock Buyback Account | 90,296 | |
Work in Progress | 179,336 | |
Total Current Assets | 5,145,521 | 1,969,508 |
Deposits - Related Party | 7,530,000 | 1,200,000 |
Total Assets | 12,675,521 | 3,169,508 |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 136,522 | 220,140 |
Accounts Payable and Accrued Expenses - Related Parties | 326,889 | 305,170 |
Deferred Revenue - Related Parties | 1,149,671 | |
Common Stock Payable | 200,000 | 200,000 |
Convertible Note Payable | 67,500 | |
Derivative Liability | 116,399 | |
Promissory Notes Payable | 76,305 | 76,305 |
Promissory notes payable, related party | 106,015 | 106,015 |
Total Current Liabilities | 845,731 | 1,091,529 |
Total Liabilities | 845,731 | 1,091,529 |
Stockholders' Equity | ||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 49,491,485 and 48,491,485 Issued and Outstanding, Respectively | 49,491 | 48,491 |
Common Stock Subscribed | 14,972,604 | 3,619,828 |
Additional Paid-In-Capital | 11,129,944 | 11,449,681 |
Accumulated Deficit | (14,321,282) | (13,040,021) |
Treasury Stock - 967,567 Shares at Par $0.001 | (967) | |
Total Stockholders' Equity | 11,829,790 | 2,077,979 |
Total Liabilities and Stockholders' Equity | $ 12,675,521 | $ 3,169,508 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Aug. 31, 2021 | Feb. 28, 2021 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 495,000,000 | 495,000,000 |
Common stock, shares issued (in shares) | 49,491,485 | 48,491,485 |
Common stock, shares outstanding (in shares) | 49,491,485 | 48,491,485 |
Treasury stock, shares (in shares) | 967,567 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Operating Expenses | ||||
General and Administrative | $ 444,095 | $ 0 | $ 779,234 | $ 0 |
Professional Fees | 302,596 | 0 | 635,686 | 0 |
Total Operating Expenses | 746,691 | 0 | 1,414,920 | 0 |
Loss Before Other Income and (Expense) | (746,691) | 0 | (1,414,920) | 0 |
Other Income and (Expense) | ||||
Gain on Debt Settlement | 0 | 0 | 140,395 | 0 |
Loss on Derivative | 0 | (275,097) | 0 | (254,656) |
Interest Expense | (3,368) | (6,780) | (6,736) | (14,159) |
Total Other Income and (Expense) | (3,368) | (281,877) | 133,659 | (268,815) |
Income (Loss) Before Income Tax Expense | (750,059) | (281,877) | (1,281,261) | (268,815) |
Income Tax Expense | 0 | 0 | 0 | 0 |
Net Loss for the Period | $ (750,059) | $ (281,877) | $ (1,281,261) | $ (268,815) |
Weighted Average Number of Common Shares - Basic and Diluted (in shares) | 49,415,398 | 48,491,485 | 48,953,442 | 48,491,485 |
Net Loss for the Period Per Common Shares - Basic and Diluted (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.03) | $ (0.01) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Cash Flows from Operating Activities | ||||
Net Loss for the Period | $ (750,059) | $ (281,877) | $ (1,281,261) | $ (268,815) |
Non-Cash Adjustments: | ||||
Loss on Derivative | 0 | 275,097 | 0 | 254,656 |
Gain on Debt Settlement | 0 | 0 | (140,395) | 0 |
Changes in Assets and Liabilities: | ||||
Stock Buyback Account | (90,296) | |||
Work in Progress | (179,336) | |||
Accounts Payable and Accrued Expenses | (59,622) | 14,159 | ||
Accounts Payable and Accrued Expenses - Related Parties | 21,719 | |||
Net Cash Flows Used In Operating Activities | (1,729,191) | |||
Cash Flows from Investing Activities | ||||
Cash Purchase of Treasury Stock | (559,704) | |||
Deposits - Related Party | (6,330,000) | |||
Net Cash Flows Used In Investing Activities | (6,889,704) | 0 | ||
Cash Flows from Financing Activities | ||||
Cash Received for Common Stock Subscriptions | 11,592,776 | |||
Repayment of Convertible Note Payable | (67,500) | |||
Net Cash Flows Provided By Financing Activities | 11,525,276 | 0 | ||
Net Change in Cash | 2,906,381 | 0 | ||
Cash - Beginning of Period | 1,969,508 | 47 | ||
Cash - End of Period | $ 4,875,889 | $ 47 | 4,875,889 | $ 47 |
Cash Paid During the Period for: | ||||
Interest | $ 2,500 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Common Stock Subscribed [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Feb. 29, 2020 | 48,491,485 | |||||
Balance at Feb. 29, 2020 | $ 48,491 | $ 11,449,681 | $ (12,410,855) | $ (912,683) | ||
Net income (loss) for the period | (268,815) | (268,815) | ||||
Net Loss for the Period | (268,815) | (268,815) | ||||
Balance (in shares) at Aug. 31, 2020 | 48,491,485 | |||||
Balance at Aug. 31, 2020 | $ 48,491 | 11,449,681 | (12,679,670) | (1,181,498) | ||
Balance (in shares) at May. 31, 2020 | 48,491,485 | |||||
Balance at May. 31, 2020 | $ 48,491 | 11,449,681 | (12,397,793) | (899,621) | ||
Net income (loss) for the period | (281,877) | (281,877) | ||||
Net Loss for the Period | (281,877) | (281,877) | ||||
Balance (in shares) at Aug. 31, 2020 | 48,491,485 | |||||
Balance at Aug. 31, 2020 | $ 48,491 | 11,449,681 | (12,679,670) | (1,181,498) | ||
Balance (in shares) at Feb. 28, 2021 | 48,491,485 | |||||
Balance at Feb. 28, 2021 | $ 48,491 | $ 3,619,828 | 11,449,681 | (13,040,021) | 2,077,979 | |
Net income (loss) for the period | (1,281,261) | (1,281,261) | ||||
Common Stock Subscriptions | 11,592,776 | 11,592,776 | ||||
Common Stock Issued from Subscriptions (in shares) | 1,000,000 | |||||
Common Stock Issued from Subscriptions | $ 1,000 | (240,000) | 239,000 | |||
Cash Purchase of Treasury Stock | (558,737) | $ (967) | $ (559,704) | |||
Cash Purchase of Treasury Stock (in shares) | 967,567 | 967,567 | ||||
Net Loss for the Period | (1,281,261) | $ (1,281,261) | ||||
Balance (in shares) at Aug. 31, 2021 | 49,491,485 | 967,567 | ||||
Balance at Aug. 31, 2021 | $ 49,491 | 14,972,604 | 11,129,944 | (14,321,282) | $ (967) | 11,829,790 |
Balance (in shares) at May. 31, 2021 | 48,491,485 | |||||
Balance at May. 31, 2021 | $ 48,491 | 6,220,170 | 11,449,681 | (13,571,223) | 4,147,119 | |
Net income (loss) for the period | (750,059) | (750,059) | ||||
Common Stock Subscriptions | 8,992,434 | 8,992,434 | ||||
Common Stock Issued from Subscriptions (in shares) | 1,000,000 | |||||
Common Stock Issued from Subscriptions | $ 1,000 | (240,000) | 239,000 | |||
Cash Purchase of Treasury Stock | (558,737) | $ (967) | (559,704) | |||
Cash Purchase of Treasury Stock (in shares) | 967,567 | |||||
Net Loss for the Period | (750,059) | (750,059) | ||||
Balance (in shares) at Aug. 31, 2021 | 49,491,485 | 967,567 | ||||
Balance at Aug. 31, 2021 | $ 49,491 | $ 14,972,604 | $ 11,129,944 | $ (14,321,282) | $ (967) | $ 11,829,790 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 QUANTUM ENERGY INC. (“the Company”) was incorporated under the name “Boomers Cultural Development Inc.” under the laws of the State of Nevada on February 5, 2004. May 18, 2006, The Company is a development stage diversified holding company with an emphasis in land holdings, refinery and fuel distribution. The Company is domiciled in the Unites States of America and trades on the OTC market under the symbol QEGY. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Basis of Presentation The accompanying condensed consolidated balance sheet has been derived from the February 28, 2021 August 31, 2021 2020, 10 8 X. not 10 February 28, 2021 ( “2020 three August 31, 2021, not February 28, 2022. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries FTPM Resources Ltd. and Dominion Energy Processing Group, Inc. after elimination of the intercompany accounts and transactions. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Risks and uncertainties The Company’s operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure. Cash and cash equivalents The Company considers all highly liquid investments with original maturities of three Fair value of financial instruments The Company's financial instruments include cash and cash equivalents, promissory notes payable, and promissory notes payable - related parties. All instruments are accounted for on a cost basis, which, due to the short maturity of these financial instruments, approximates fair value at August 31, 2021 February 28, 2021, When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 At August 31, 2021 February 28, 2021, no Long-Lived Assets The Company reviews long-lived assets which include a deposit on land purchase for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not may Stock-based Compensation The Company estimates the fair value of options to purchase common stock using the Black-Scholes model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time stock options will be held before they are exercised (“expected life”), the estimated volatility of the Company’s common stock price over the expected term (“volatility”), forfeiture rate, the risk-free interest rate and the dividend yield. Changes in the subjective assumptions can materially affect the estimate of fair value of stock-based compensation. Options granted have a ten Related Parties In accordance with ASC 850 one may one one New Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and is evaluating any that may not not Reclassifications In the prior accompanying unaudited financial statements Investments – IEC have been reclassified to Deposits – Related Party. These reclassifications had no 5. |
Note 3 - Going Concern
Note 3 - Going Concern | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN These condensed consolidated financial statements have been prepared in accordance with U.S. GAAP to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve As shown in the accompanying financial statements, the Company has incurred operating losses since inception. As of August 31, 2021 February 28, 2021, August 31, 2021 February 28, 2021. no |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4 EARNINGS PER SHARE Basic Earnings Per Share (“EPS”) is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and warrants. The dilutive effect of outstanding securities as of August 31, 2021 February 28, 2021, August 31, 2021 February 28, 2021 Warrants 2,425,000 2,925,000 TOTAL POSSIBLE DILUTION 2,425,000 3,925,000 At August 31, 2021 February 28, 2021, |
Note 5 - Other Assets
Note 5 - Other Assets | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 5 OTHER ASSETS Peconic Note Receivable On April 17, 2019, May 31, 2019, $30,000 May 31, 2019. Deposit on land purchase On December 5, 2016, The purchase contract originally expired on December 15, 2017; July 10, 2018 On June 8, 2018, December 31, 2018 no December 31, 2018. On June 3, 2019, October 31, 2019 no May 31, 2019, 13 Stock Buyback Account The Company is holding $90,296 in a separate investment account specifically for the use in buying back additional treasury stock at market rates. Work in Progress Work in progress consists of partially manufactured and raw rare earth metal products used in production in the amount of $179,336 at August 31, 2021. Deposits – Related Party Deposits – Related Party consist of deposits made to a related party that share board members of the Company. A with a letter of intent signed on October 12,2021 eighteen December 15, 2022. not August 31, 2021. |
Note 6 - Promissory and Convert
Note 6 - Promissory and Convertible Notes Payable | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 6 PROMISSORY and CONVERTIBLE NOTES PAYABLE The Company’s outstanding notes payable are summarized as follows: August 31, 2021 February 28, 2021 0% unsecured note payable - December 2013, due on demand $ 2,000 $ 2,000 0% unsecured note payable - November 2015, due on demand 980 980 8% unsecured note payable - October 2018, due on demand 5,000 5,000 6% unsecured note payable – April 2019, due on demand 3,325 3,325 8% unsecured notes payable - October 2019, due on demand 65,000 65,000 Total Notes Payable $ 76,305 $ 76,305 Interest expense for the three August 31, 2021 2020 six August 31, 2021 2020 Convertible note payable consists of one August 31, 2021 February 28, 2021, April 2019 April 2020. 150% October 7, 2020. On June 18, 2019, 1934 April 2021 six August 31, 2021, not |
Note 7 - Promissory Notes Payab
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 7 PROMISSORY NOTES PAYABLE, RELATED PARTY AND OTHER RELATED PARTY TRANSACTIONS The Company’s outstanding notes payable, related party are summarized as follows: August 31, 2021 February 28, 2021 0% unsecured note payable - October 2015, due on demand $ 2,300 $ 2,300 0% unsecured note payable – November 2015, due on demand 2,000 2,000 8% unsecured note payable - October 2018, due on demand 60,000 60,000 6% unsecured note payable – April 2019, due on demand 15,825 15,825 6% unsecured note payable – April 2019, due on demand 15,890 15,890 8% unsecured note payable - October 2019, due on demand 10,000 10,000 TOTAL $ 106,015 $ 106,015 Interest expense for the three August 31, 2021 2020 six August 31, 2021 2020 Starting January 1, 2019, February 28, 2019, February 28, 2019. February 28, 2019, no December 31, 2018. no 10 ten 2019. August 31, 2021 February 28, 2021 Certain officers, directors and other related parties of the Company have paid various expenses on behalf of the Company. Balances due to the officers, directors and a related company for reimbursement of these expenses were $198,801 and $197,302 at August 31, 2021and February 28, 2021, |
Note 8 - Common Stock
Note 8 - Common Stock | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 COMMON STOCK Common stock The Company is authorized to issue 495,000,000 shares of its common stock with a par value of $0.001 per share. All shares of common stock are equal to each other with respect to voting, liquidation, dividend, and other rights. Owners of shares are entitled to one vote for each share owned at any Shareholders’ meeting. Preferred stock The Company is authorized to issue 5,000,000 shares of its preferred stock with a no no Treasury Stock During the six August 31, 2021 |
Note 9 - Warrants
Note 9 - Warrants | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Warrants and Rights [Text Block] | NOTE 9 The following is a summary of the Company’s warrants issued and outstanding: August 31, 2021 February 28, 2021 Warrants Price (a) Warrants Price (a) Beginning balance 2,925,000 $ .25 3,925,000 $ .25 Issued –– –– –– –– Exercised –– –– –– –– Expired (500,000 ) –– (1,000,000 ) –– Ending balance 2,425,000 $ 0.25 2,925,000 $ .25 (a) Weighted average exercise price per shares The following table summarizes additional information about the warrants granted by the Company as of August 31, 2021 February 28, 2021: Date of Grant Warrants Warrants Price Remaining term July 10, 2017 500,000 500,000 .25 .27 March 20, 2019 1,250,000 1,250,000 .25 .55 April 17, 2019 675,000 675,000 .25 .63 Total warrants 2,425,000 2,425,000 $ .25 .52 |
Note 10 - Other Matters - Joint
Note 10 - Other Matters - Joint Venture | 6 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Other Matters [Text Block] | NOTE 10 OTHER MATTERS- Joint Venture Easy Energy Systems Inc. Memorandums of Understanding On April 2, 2019, 1” 1, April 30, 2019, 1M, 2M, 5M On April 16, 2016 2” 2, 9.3 2, February 29, 2020. As of May 9, 2021, no Private Placement – Raul Factor In furtherance of the June 28, 2019, July 8, 2019, 1 1 July 8, 2019, 1 venture purchased the global distribution rights to EESI’s MEPS® technology for turf & carpet feedstock. Each of EES-E and EETC is owned 25% 25% February 29, 2020, not In connection with and as part of the foregoing joint venture transactions with JV- 1 July 11, 2019, $0.25 $150,000, 6 Pursuant to this June 28, 2019, 90 not October 29, 2019, June 28, 2019 not Pursuant to these two $0.25 $150,000 6 Private Placement – Raul Factor – continued Also, as part of the transactions contemplated by these agreements: (i) the stock purchase warrant issued on November 20, 2016, No. 002” May 19, 2021 $0.25 June 9, 2017, March 15, 2018, No. 003” December 9, 2021, $0.25 December 9, 2021, $0.25 $0.25 December 20, 2020; ( $0.25 December 20, 2020. ( 9 The sale of the Units and the warrants to Kevin Holinaty and Haaye de Jong, the principals of Raul Factor, who have represented that they are “accredited investors” and non-U.S. citizens and in offshore transactions, was made in reliance on Rule 506 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Aug. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated balance sheet has been derived from the February 28, 2021 August 31, 2021 2020, 10 8 X. not 10 February 28, 2021 ( “2020 three August 31, 2021, not February 28, 2022. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries FTPM Resources Ltd. and Dominion Energy Processing Group, Inc. after elimination of the intercompany accounts and transactions. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Risks and Uncertainties [Policy Text Block] | Risks and uncertainties The Company’s operations are subject to significant risks and uncertainties, including financial, operational, technological and other risks associated with operating an emerging business, including the potential risk of business failure. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents The Company considers all highly liquid investments with original maturities of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments The Company's financial instruments include cash and cash equivalents, promissory notes payable, and promissory notes payable - related parties. All instruments are accounted for on a cost basis, which, due to the short maturity of these financial instruments, approximates fair value at August 31, 2021 February 28, 2021, When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 At August 31, 2021 February 28, 2021, no |
Property, Plant and Equipment, Policy [Policy Text Block] | Long-Lived Assets The Company reviews long-lived assets which include a deposit on land purchase for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not may |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation The Company estimates the fair value of options to purchase common stock using the Black-Scholes model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time stock options will be held before they are exercised (“expected life”), the estimated volatility of the Company’s common stock price over the expected term (“volatility”), forfeiture rate, the risk-free interest rate and the dividend yield. Changes in the subjective assumptions can materially affect the estimate of fair value of stock-based compensation. Options granted have a ten |
Related Parties [Policy Text Block] | Related Parties In accordance with ASC 850 one may one one |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and is evaluating any that may not not |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications In the prior accompanying unaudited financial statements Investments – IEC have been reclassified to Deposits – Related Party. These reclassifications had no 5. |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 6 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | August 31, 2021 February 28, 2021 Warrants 2,425,000 2,925,000 TOTAL POSSIBLE DILUTION 2,425,000 3,925,000 |
Note 6 - Promissory and Conve_2
Note 6 - Promissory and Convertible Notes Payable (Tables) | 6 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | August 31, 2021 February 28, 2021 0% unsecured note payable - December 2013, due on demand $ 2,000 $ 2,000 0% unsecured note payable - November 2015, due on demand 980 980 8% unsecured note payable - October 2018, due on demand 5,000 5,000 6% unsecured note payable – April 2019, due on demand 3,325 3,325 8% unsecured notes payable - October 2019, due on demand 65,000 65,000 Total Notes Payable $ 76,305 $ 76,305 |
Note 7 - Promissory Notes Pay_2
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Tables) | 6 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | August 31, 2021 February 28, 2021 0% unsecured note payable - October 2015, due on demand $ 2,300 $ 2,300 0% unsecured note payable – November 2015, due on demand 2,000 2,000 8% unsecured note payable - October 2018, due on demand 60,000 60,000 6% unsecured note payable – April 2019, due on demand 15,825 15,825 6% unsecured note payable – April 2019, due on demand 15,890 15,890 8% unsecured note payable - October 2019, due on demand 10,000 10,000 TOTAL $ 106,015 $ 106,015 |
Note 9 - Warrants (Tables)
Note 9 - Warrants (Tables) | 6 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | August 31, 2021 February 28, 2021 Warrants Price (a) Warrants Price (a) Beginning balance 2,925,000 $ .25 3,925,000 $ .25 Issued –– –– –– –– Exercised –– –– –– –– Expired (500,000 ) –– (1,000,000 ) –– Ending balance 2,425,000 $ 0.25 2,925,000 $ .25 |
Schedule of Warrants Granted [Table Text Block] | Date of Grant Warrants Warrants Price Remaining term July 10, 2017 500,000 500,000 .25 .27 March 20, 2019 1,250,000 1,250,000 .25 .55 April 17, 2019 675,000 675,000 .25 .63 Total warrants 2,425,000 2,425,000 $ .25 .52 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Feb. 28, 2021 | Aug. 31, 2021 | |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |
Fair Value, Recurring [Member] | ||
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 |
Note 4 - Earnings Per Share - D
Note 4 - Earnings Per Share - Dilutive Effect of Outstanding Securities (Details) - shares | 3 Months Ended | 12 Months Ended |
Aug. 31, 2021 | Feb. 28, 2021 | |
Warrants (in shares) | 2,425,000 | 2,925,000 |
TOTAL POSSIBLE DILUTION (in shares) | 2,425,000 | 3,925,000 |
Note 5 - Other Assets (Details
Note 5 - Other Assets (Details Textual) | Oct. 12, 2021 | Apr. 17, 2019USD ($) | Dec. 05, 2016USD ($) | May 31, 2019USD ($) | Aug. 31, 2021USD ($) | Feb. 28, 2021USD ($) | Jun. 08, 2018CAD ($) | Dec. 05, 2016CAD ($) |
Stock Buyback Account, Value | $ 90,296 | |||||||
Inventory, Work in Process, Gross | 179,336 | |||||||
Deposits Assets, Noncurrent | $ 7,530,000 | $ 1,200,000 | ||||||
Subsequent Event [Member] | ||||||||
Related Party Purchase of Shares Agreement, Price Per Share | 2.10% | |||||||
Related Party Purchase of Shares Agreement, Term (Month) | 18 months | |||||||
Land [Member] | ||||||||
Purchase Price of Property | $ 525,000 | $ 500,000 | ||||||
Payments for Deposits on Real Estate Acquisitions | $ 7,822 | |||||||
Deposits Written Off | $ 7,822 | |||||||
Peconic Energy, Inc. [Member] | ||||||||
Payments to Acquire Notes Receivable | $ 30,000 | |||||||
Notes Receivable, Term (Month) | 18 months | |||||||
Notes Receivable, Interest Rate, Stated Percentage | 12.00% | |||||||
Notes Receivable, Interest Rate, Percentage of Gross Revenues | 40.00% | |||||||
Notes Receivable, Collateral, Percentage of Assets | 100.00% | |||||||
Notes Receivable, Convertible, Percentage of Assets | 40.00% | |||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 30,000 |
Note 6 - Promissory and Conve_3
Note 6 - Promissory and Convertible Notes Payable (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | Apr. 30, 2021 | Feb. 28, 2021 | Jun. 18, 2019 | Apr. 30, 2019 | |
Interest Expense, Total | $ 3,368 | $ 6,780 | $ 6,736 | $ 14,159 | ||||
Convertible Notes Payable, Current | $ 67,500 | |||||||
Gain (Loss) on Debt Conversion | 0 | 0 | 140,395 | 0 | ||||
Derivative Liability, Current | 116,399 | |||||||
The Power Up Note [Member] | ||||||||
Debt Instrument, Debt Default, Amount | $ 67,500 | |||||||
Long-term Debt, Total | $ 70,200 | |||||||
Gain (Loss) on Debt Conversion | 140,395 | |||||||
Interest Payable, Current | 23,996 | 23,996 | ||||||
Derivative Liability, Current | 116,399 | |||||||
Unsecured Debt [Member] | ||||||||
Interest Expense, Total | 1,455 | $ 1,453 | 2,910 | $ 2,906 | ||||
Convertible Notes Payable [Member] | ||||||||
Convertible Notes Payable, Current | $ 0 | $ 0 | $ 67,500 | $ 45,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||
Debt Instrument, Default Interest Rate | 22.00% |
Note 6 - Promissory and Conve_4
Note 6 - Promissory and Convertible Notes Payable - Summary of Outstanding Notes Payable (Details) - USD ($) | Aug. 31, 2021 | Feb. 28, 2021 |
Promissory notes payable | $ 76,305 | $ 76,305 |
The 0 Percent Unsecured Note Payable Issued December 2013 [Member] | ||
Promissory notes payable | 2,000 | 2,000 |
The 0 Percent Unsecured Note Payable Issued November 2015 [Member] | ||
Promissory notes payable | 980 | 980 |
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | ||
Promissory notes payable | 5,000 | 5,000 |
The 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable | 3,325 | 3,325 |
The 8 Percent Promissory Notes Issued October 2019 [Member] | ||
Promissory notes payable | $ 65,000 | $ 65,000 |
Note 7 - Promissory Notes Pay_3
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions (Details Textual) - USD ($) | Jan. 01, 2019 | Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Feb. 28, 2021 | Feb. 28, 2019 |
Interest Expense, Total | $ 3,368 | $ 6,780 | $ 6,736 | $ 14,159 | ||||
Accounts Payable, Related Parties, Current | 326,889 | 326,889 | $ 326,889 | $ 305,170 | ||||
Advisory Company Owned by Former CEO [Member] | ||||||||
Interest Expense, Total | 1,913 | $ 1,614 | 3,826 | $ 3,827 | ||||
Related Party Transaction, Monthly Management Fee | $ 15,000 | |||||||
Related Party Transaction, Disputed Amount | 150,000 | 150,000 | 150,000 | |||||
Accounts Payable, Related Parties, Current | 107,868 | 107,868 | 107,868 | 17,868 | ||||
Advisory Company Owned by Former CEO [Member] | Management Fee [Member] | ||||||||
Due to Related Parties, Current, Total | 30,000 | 30,000 | 30,000 | $ 30,000 | ||||
Related Party Transaction, Amounts of Transaction | 0 | |||||||
Advisory Company Owned by Former CEO [Member] | Reimbursement of Expenses [Member] | ||||||||
Accounts Payable, Related Parties, Current | $ 198,801 | $ 198,801 | $ 198,801 | $ 197,302 |
Note 7 - Promissory Notes Pay_4
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions - Outstanding Notes Payable, Related Party (Details) - USD ($) | Aug. 31, 2021 | Feb. 28, 2021 |
Promissory notes payable, related party | $ 106,015 | $ 106,015 |
The 0 Percent Unsecured Note Payable Issued October 2015 [Member] | ||
Promissory notes payable, related party | 2,300 | 2,300 |
The 0 Percent Unsecured Note Payable Issued November 2015 [Member] | ||
Promissory notes payable, related party | 2,000 | 2,000 |
The 8 Percent Unsecured Note Payable Issued October 2018 [Member] | ||
Promissory notes payable, related party | 60,000 | 60,000 |
The 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable, related party | 15,825 | 15,825 |
The Second 6 Percent Promissory Notes Issued April 2019 [Member] | ||
Promissory notes payable, related party | 15,890 | 15,890 |
The 8 Percent Promissory Notes Issued October 2019 [Member] | ||
Promissory notes payable, related party | $ 10,000 | $ 10,000 |
Note 8 - Common Stock (Details
Note 8 - Common Stock (Details Textual) | 3 Months Ended | 6 Months Ended | |
Aug. 31, 2021USD ($)$ / sharesshares | Aug. 31, 2021USD ($)$ / sharesshares | Feb. 28, 2021$ / sharesshares | |
Common Stock, Shares Authorized (in shares) | 495,000,000 | 495,000,000 | 495,000,000 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 |
Common Stock, Voting Rights, Number of Votes Per Share | 1 | 1 | |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | |
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 | $ 0 | |
Treasury Stock, Shares, Acquired (in shares) | 967,567 | ||
Treasury Stock, Value, Acquired, Par Value Method | $ | $ 559,704 | $ 559,704 |
Note 9 - Warrants - Summary of
Note 9 - Warrants - Summary of Warrants Issued and Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Aug. 31, 2021 | Feb. 28, 2021 | ||
Beginning balance (in shares) | 2,925,000 | 3,925,000 | |
Beginning balance (in dollars per share) | [1] | $ 0.25 | $ 0.25 |
Issued (in shares) | |||
Issued (in dollars per share) | [1] | ||
Exercised (in shares) | |||
Exercised (in dollars per share) | [1] | ||
Expired (in shares) | (500,000) | (1,000,000) | |
Expired (in dollars per share) | [1] | ||
Ending balance (in shares) | 2,425,000 | 2,925,000 | |
Ending balance (in dollars per share) | [1] | $ 0.25 | $ 0.25 |
[1] | Weighted average exercise price per shares |
Note 9 - Warrants - Additional
Note 9 - Warrants - Additional Information About Warrants Granted (Details) - $ / shares | 6 Months Ended | |||
Aug. 31, 2021 | Feb. 28, 2021 | Feb. 29, 2020 | ||
Warrants outstanding (in shares) | 2,425,000 | 2,925,000 | 3,925,000 | |
Warrants exercisable (in shares) | 2,425,000 | |||
July 10, 2017 (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 0.25 |
Warrants, remaining term (Year) | 6 months 7 days | |||
Warrants Granted November 19, 2016 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
July 10, 2017 (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 3 months 7 days | |||
Warrants Granted July 10, 2017 [Member] | ||||
Warrants outstanding (in shares) | 1,250,000 | |||
Warrants exercisable (in shares) | 1,250,000 | |||
July 10, 2017 (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 6 months 18 days | |||
Warrants Granted March 20, 2019 [Member] | ||||
Warrants outstanding (in shares) | 675,000 | |||
Warrants exercisable (in shares) | 675,000 | |||
July 10, 2017 (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 7 months 17 days | |||
[1] | Weighted average exercise price per shares |
Note 10 - Other Matters - Joi_2
Note 10 - Other Matters - Joint Venture (Details Textual) - USD ($) | Jul. 11, 2019 | Apr. 02, 2019 | Apr. 16, 2016 | Feb. 29, 2020 | Aug. 31, 2021 | Feb. 28, 2021 | Jul. 08, 2019 | Jun. 28, 2019 | |
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 33.00% | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 0.25 | |||||
Warrants to Purchase Restricted Shares Issued to RF [Member] | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000,000 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,000,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Warrants and Rights Outstanding, Term (Month) | 18 months | ||||||||
Warrant Issued to Mr. Haaye de Jong [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | ||||||||
Warrants Issued to Mr. Haaye de Jong in June 2019 [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Warrants Issued to Mr. Kevin Holinaty in June 2019 [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
EES - E and EETC [Member] | |||||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||||
License and Operating Agreement, Aggregate Purchase Price, Licensing and Distribution | $ 150,000 | ||||||||
Easy Energy Systems, Inc. [Member] | |||||||||
Memorandum of Understanding, Option to Merge, Term (Day) | 90 days | ||||||||
Memorandum of Understanding, Anticipated Cost of Power Plant | $ 10,000,000 | ||||||||
Payments for Power Plant Under Memorandum of Understanding | $ 25,000 | ||||||||
Binding Letter of Intent, Capital to be Raised Within 90 Days | $ 10,000,000 | ||||||||
Easy Energy Systems, Inc. [Member] | General and Administrative Expense [Member] | |||||||||
Memorandum of Understanding, Power Plant Expense | $ 25,000 | ||||||||
Raul Factor BV [Member] | |||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 200,000 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000,000 | ||||||||
Equity Offering, Units Issued or Issuable (in shares) | 1,000,000 | ||||||||
Equity Offering, Units Issued, Price Per Share (in dollars per share) | $ 0.20 | ||||||||
Mr. Kevin Holinaty [Member] | Warrant No. 002 [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Mr. Kevin Holinaty [Member] | Warrant No. 003 [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 250,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Easy Energy Systems, Inc. [Member] | |||||||||
Memorandum of Understanding, Joint Venture, Percentage of Ownership | 67.00% | ||||||||
Easy Energy Systems, Inc. [Member] | EES - E and EETC [Member] | |||||||||
Equity Method Investment, Ownership Percentage | 25.00% | ||||||||
Raul Factor BV [Member] | EES - E and EETC [Member] | |||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||
[1] | Weighted average exercise price per shares |