Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Nov. 30, 2020 | |
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 | FY | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-K/A | |
Document Annual Report | true | |
Document Period End Date | Feb. 28, 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 | 3825 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 Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
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 Public Float | $ 1,260,969 | |
Entity Common Stock, Shares Outstanding | 48,491,485 | |
Amendment Description | This Amendment is being filed to restate the financial statements (See Footnote 12 to the financial statements) and to correct certain outdated information. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 |
Current Assets | |||
Cash | $ 1,969,508 | $ 47 | |
Total Current Assets | 1,969,508 | 47 | |
Deposits - Related Party | 1,200,000 | 0 | |
Total Assets | 3,169,508 | 47 | |
Current Liabilities | |||
Accounts Payable and Accrued Expenses | 220,140 | 147,888 | |
Accounts Payable and Accrued Expenses - Related Parties | $ 305,170 | $ 176,837 | |
Common Stock Payable - for Contracts/Agreements (in shares) | 1,500,000 | 200,000 | |
Common Stock Payable - Deposits Received on Subscription Agreements | $ 9,128,104 | $ 0 | |
Convertible Note Payable | 67,500 | 67,500 | |
Derivative Liability | 116,399 | 138,185 | |
Promissory Notes Payable | 76,305 | 76,305 | |
Promissory notes payable, related party | 106,015 | 106,015 | |
Total Current Liabilities | 11,519,633 | 912,730 | |
Total Liabilities | 11,519,633 | 912,730 | |
Stockholders' Deficit | |||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively | 48,491 | 48,491 | |
Additional Paid-In-Capital | 11,449,681 | 11,449,681 | |
Accumulated Deficit | (19,848,297) | (12,410,855) | |
Total Stockholders' Deficit | (8,350,125) | (912,683) | $ (314,396) |
Total Liabilities and Stockholders' Deficit | $ 3,169,508 | $ 47 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Feb. 28, 2021 | Feb. 29, 2020 |
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) | 48,491,485 | 48,491,485 |
Common stock, shares outstanding (in shares) | 48,491,485 | 48,491,485 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Operating Expenses | ||
Advertising and Marketing | $ 0 | $ 888 |
Management Fees and Consulting | 98,334 | 11,750 |
General and Administrative | 240,467 | 37,791 |
Professional Fees | 283,895 | 183,930 |
Total Operating Expenses | 622,696 | 234,359 |
Other (Income) and Expenses | ||
Bad Debts | 0 | 30,000 |
Unrealized Loss Common Stock Payable | 6,808,276 | 0 |
(Gain) Loss on Derivative | (21,787) | 138,185 |
Interest Expense | 28,257 | 45,743 |
Interest Expense - Warrants | 0 | 453,261 |
Joint Venture - Write Off | 0 | 150,000 |
Total Other (Income) and Expenses | 6,814,746 | 817,189 |
Loss Before Income Tax Expense | (7,437,442) | (1,051,548) |
Income Tax Expense | 0 | 0 |
Net Loss | $ (7,437,442) | $ (1,051,548) |
Weighted Average Number of Common Shares - Basic and Diluted (in shares) | 48,491,485 | |
Net Loss Per Common Shares - Basic and Diluted (in dollars per share) | $ (0.15) | $ (0.02) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (7,437,442) | $ (1,051,548) |
Non-Cash Adjustments: | ||
Common Stock Subscribed for Rent | 240,000 | 0 |
Bad Debts | 0 | 30,000 |
Unrealized Loss Common Stock Payable | 6,808,276 | 0 |
Deposits Written Off | 0 | 7,822 |
(Gain) Loss on Derivative | (21,787) | 138,185 |
Interest on Default of Convertible Note | 0 | 22,500 |
Interest Expense - Warrants | 0 | 453,261 |
Joint Venture - Write Off | 0 | 150,000 |
Changes in Assets and Liabilities: | ||
Notes Receivable | 0 | (30,000) |
Accounts Payable and Accrued Expenses | 72,253 | 79,557 |
Accounts Payable and Accrued Expenses - Related Parties | 128,333 | (6,348) |
Net Cash Flows Used In Operating Activities | (210,367) | (206,571) |
Cash Flows from Investing Activities | ||
Investment in Joint Venture | 0 | (150,000) |
Deposits - Related Party | (1,200,000) | 0 |
Net Cash Flows Used In Investing Activities | (1,200,000) | (150,000) |
Cash Flows from Financing Activities | ||
Proceeds from Notes Payable | 0 | 68,325 |
Proceeds from Stock Subscription | 3,379,828 | 200,000 |
Cash Proceeds Received from Convertible Note Payable | 0 | 45,000 |
Proceeds from Notes Payable - Related Parties | 0 | 41,715 |
Net Cash Flows Provided by Financing Activities | 3,379,828 | 355,040 |
Net Change in Cash | 1,969,461 | (1,531) |
Cash - Beginning of Year | 47 | 1,578 |
Cash - End of Year | 1,969,508 | 47 |
Cash Paid During the Year for: | ||
Interest | 0 | 0 |
Income Taxes | $ 0 | $ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Feb. 28, 2019 | 48,491,485 | |||
Balance at Feb. 28, 2019 | $ 48,491 | $ 10,996,420 | $ (11,359,307) | $ (314,396) |
Value of Warrants for Convertible Note | 0 | 453,261 | 0 | 453,261 |
Net Loss | $ 0 | 0 | (1,051,548) | (1,051,548) |
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 Loss | $ 0 | 0 | (7,437,442) | (7,437,442) |
Balance (in shares) at Feb. 28, 2021 | 48,491,485 | |||
Balance at Feb. 28, 2021 | $ 48,491 | $ 11,449,681 | $ (19,848,297) | $ (8,350,125) |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Feb. 28, 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 | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). 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 February 28, 2021 February 29, 2020, 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 February 28, 2021 February 29, 2020, NOTE 2 continued 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 |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN These 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 February 28, 2021 February 29, 2020, February 28, 2021 February 29, 2020. no |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 12 Months Ended |
Feb. 28, 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 February 28, 2021 February 29, 2020, February 28, 2021 February 29, 2020 Warrants 2,925,000 3,925,000 TOTAL POSSIBLE DILUTION 2,925,000 3,925,000 At February 28, 2021 February 29, 2020, |
Note 5 - Other Assets
Note 5 - Other Assets | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 5 OTHER ASSETS continued 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 Deposits – Related Party Deposits – Related Party consist of deposits made to a related party that share board members of the Company. A letter of intent signed on October 12, 2021 eighteen December 15, 2022. not February 28, 2021. |
Note 6 - Promissory and Convert
Note 6 - Promissory and Convertible Notes Payable | 12 Months Ended |
Feb. 28, 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: February 28, 2021 February 29 2020 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 years ended February 28, 2021 February 29, 2020 $5,807and Convertible note payable consists of one February 28, 2021 February 29, 2020, April 2019 April 2020. 150% February 28, 2021 February 29, 2020 February 28, 2021. 20 February 28, 2021 February 28, 2021 February 29, 2020 NOTE 6 PROMISSORY and CONVERTIBLE NOTES PAYABLE continued The conversion option expires on October 7, 2020. June 18, 2019, 1934 April 2021 |
Note 7 - Promissory Notes Payab
Note 7 - Promissory Notes Payable, Related Party and Other Related Party Transactions | 12 Months Ended |
Feb. 28, 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: February 28, 2021 February 29, 2020 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 years ended February 28, 2021 February 29, 2020 Starting January 1, 2019, February 28, 2019, February 28, 2019. February 28, 2019, no December 31, 2018. no 10 ten 2019. February 28, 2021 February 29, 2020 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 $197,302 and $158,969 at February 28, 2021and February 29, 2020, |
Note 8 - Common Stock Payable
Note 8 - Common Stock Payable | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Common Stock Payable - Contracts/Agreements and Deposits Received on Subscription Agreements | NOTE 8 Common Stock Payable – for Contracts/Agreements Common stock payable for contracts/agreements consist of 1 million shares owed to Raul Factor per the joint venture agreement (Note 11 February 28, 2021. February 28, 2021 February 28 ,2021. Common Stock Payable – Deposits Received on Subscriptions Agreements Common stock payable for deposits received on stock subscription agreements consist of 12,170,806 shares owed to various investors who have paid for these shares. The shares value was based on the market price of the Company’s common stock of $0.75 on February 28, 2021. February 28, 2021 February 28 ,2021. |
Note 9 - Common Stock
Note 9 - Common Stock | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9 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-par value per share with no |
Note 10 - Warrants
Note 10 - Warrants | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Warrants and Rights [Text Block] | NOTE 10 On July 10, 2017, one March 2018, $0.21 June 9, 2020. On March 20, 2019 April 17, 2019, eight thirty-six March 20 April 17, 2019 February 29, 2020. On June 28, 2019, 1,000,000 $0.25. eighteen two two February 29, 2020. The following is a summary of the Company’s warrants issued and outstanding: February 28, 2021 February 28, 2020 Warrants Price (a) Warrants Price (a) Beginning balance 3,925,000 $ .25 2,129,802 $ 1.00 Issued –– –– 2,925,000 .19 Exercised –– –– –– –– Expired (1,000,000 ) –– (1,129,802 ) –– Ending balance 2,925,000 $ 0.25 3,925,000 $ .25 (a) Weighted average exercise price per shares The following table summarizes additional information about the warrants granted by the Company as of February 28, 2021 February 29, 2020: Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ .25 0.22 July 10, 2017 500,000 500,000 .25 0.78 March 20, 2019 1,250,000 1,250,000 .25 1.05 April 17, 2019 675,000 675,000 .25 1.13 Total warrants 2,925,000 2,925,000 $ .25 .89 |
Note 11 - Other Matters - Joint
Note 11 - Other Matters - Joint Venture | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Other Matters [Text Block] | NOTE 11 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 February 29, 2020, not In connection with and as part of the foregoing joint venture transactions with JV- 1 July 11, 2019, $150,000, 6 Pursuant to this June 28, 2019, 90 not October 29, 2019, June 28, 2019 not NOTE 11 OTHER MATTERS- Joint Venture - continued Pursuant to these two $150,000 6 $200,000 February 28, 2021 February 28, 2021. 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 June 9, 2017, March 15, 2018, No. 003” December 9, 2021, December 9, 2021, December 20, 2020; ( December 20, 2020. ( 10 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 |
Note 12 - Restatement of Financ
Note 12 - Restatement of Financial Statements | 12 Months Ended |
Feb. 28, 2021 | |
Notes to Financial Statements | |
Error Correction [Text Block] | NOTE 12 RESTATEMENT OF FINANCIAL STATEMENTS The Company restated its previously issued financial statements as of February 28, 2021 The following tables summarize the effect of the restatement on the specific items presented in our previously reported financial statements: QUANTUM ENERGY, INC. CONSOLIDATED BALANCE SHEET February 28, February 28, 2021 2021 (As Filed) Adjustments (As Restated) ASSETS Current Assets Cash $ 47 $ 1,969,461 $ 1,969,508 Total Current Assets 47 1,969,461 1,969,508 Deposits - Related Party — 1,200,000 1,200,000 Total Assets $ 47 $ 3,169,461 $ 3,169,508 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable and Accrued Expenses $ 220,140 $ — $ 220,140 Accounts Payable and Accrued Expenses - Related Parties 343,770 (38,600 ) 305,170 Common Stock Payable - for Contracts/Agreements 200,000 1,300,000 1,500,000 Common Stock Payable - Deposits Received on Subscription Agreements — 9,128,104 9,128,104 Convertible Note Payable 67,500 — 67,500 Derivative Liability 116,399 — 116,399 Promissory Notes Payable 76,305 — 76,305 Promissory Notes Payable - Related Parties 106,015 — 106,015 Total Current Liabilities 1,130,129 10,389,504 11,519,633 Total Liabilities 1,130,129 10,389,504 11,519,633 Stockholders' Deficit Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively 48,491 — 48,491 Additional Paid-In-Capital 11,449,681 — 11,449,681 Accumulated Deficit (12,628,254 ) (7,220,043 ) (19,848,297 ) Total Stockholders' Deficit (1,130,082 ) (7,220,043 ) (8,350,125 ) Total Liabilities and Stockholders' Deficit $ 47 $ 3,169,461 $ 3,169,508 QUANTUM ENERGY, INC. CONSOLIDATED STATEMENT OF OPERATIONS For the Year Ended February 28, February 28, 2021 2021 (As Filed) Adjustments (Restated) Operating Expenses Advertising and Marketing $ — $ — $ — Management Fees and Consulting 98,334 — 98,334 General and Administrative — 240,467 240,467 Professional Fees 112,595 171,300 283,895 Total Operating Expenses 210,929 411,767 622,696 Other (Income) and Expenses Bad Debts — — — Unrealized Loss Common Stock Payable — 6,808,276 6,808,276 Gain on Derivative (21,787 ) — (21,787 ) Interest Expense 28,257 — 28,257 Interest Expense - Warrants — — — Joint Venture - Write Off — — — Total Other (Income) and Expenses 6,470 6,808,276 6,814,746 Loss Before Income Tax Expense 217,399 7,220,043 7,437,442 Income Tax Expense — — — Net Loss $ 217,399 $ 7,220,043 $ 7,437,442 Weighted Average Number of Common Shares - Basic and Diluted 48,491,485 48,491,485 Net Loss Per Common Shares - Basic and Diluted $ 0.00 $ 0.15 QUANTUM ENERGY, INC. CONSOLIDATED STATEMENT OF CASH FLOWS February 28, February 28, For the Year Ended 2021 2021 (As Filed) Adjustments (Restated) Cash Flows from Operating Activities Net Loss $ (217,399 ) $ (7,220,043 ) $ (7,437,442 ) Non-Cash Adjustments: Common Stock Subscribed for Rent — 240,000 240,000 Bad Debts — — — Unrealized Loss Common Stock Payable — 6,808,276 6,808,276 Deposits Written Off — — — Gain on Derivative (21,787 ) — (21,787 ) Interest on Default of Convertible Note — — — Interest Expense on Convertible Note Warrants — — — Joint Venture - Write Off — — — Changes in Assets and Liabilities: Notes Receivable — — — Accounts Payable and Accrued Expenses 72,253 — 72,253 Accounts Payable and Accrued Expenses - Related Parties 166,933 (38,600 ) 128,333 Net Cash Flows Used In Operating Activities — (210,367 ) (210,367 ) Cash Flows from Investing Activities Investment in Joint Venture — — — Deposits - Related Party — (1,200,000 ) (1,200,000 ) Net Cash Flows Used In Investing Activities — (1,200,000 ) (1,200,000 ) Cash Flows from Financing Activities Proceeds from Notes Payable — — — Proceeds from Stock Subscription — 3,379,828 3,379,828 Cash Proceeds Received from Convertible Note Payable — — — Proceeds from Notes Payable - Related Parties — — — Net Cash Flows Provided by Financing Activities — 3,379,828 3,379,828 Net Change in Cash — 1,969,461 1,969,461 Cash - Beginning of Year 47 — 47 Cash - End of Year $ 47 $ 1,969,461 $ 1,969,508 Cash Paid During the Year for: Interest $ — $ — Income Taxes $ — $ — QUANTUM ENERGY, INC. CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT FOR THE YEAR ENDED FEBRUARY 28, 2021 Common Stock Additional Total $0.001 Par Paid-In Accumulated Stockholders' As Filed Shares Amount Capital Deficit Deficit Balance - March 1, 2020 48,491,485 $ 48,491 $ 11,449,681 $ (12,410,855 ) $ (912,683 ) Net Loss - (As Filed) — — — (217,399 ) (217,399 ) Balance - February 28, 2021 - (As Filed) 48,491,485 $ 48,491 $ 11,449,681 $ (12,628,254 ) $ (1,130,082 ) Common Stock Additional Total $0.001 Par Paid-In Accumulated Stockholders' As Restated Shares Amount Capital Deficit Deficit Balance - March 1, 2020 48,491,485 $ 48,491 $ 11,449,681 $ (12,410,855 ) $ (912,683 ) Net Loss - (Restated) — — — (7,437,442 ) (7,437,442 ) Balance - February 28, 2021 - (Restated) 48,491,485 $ 48,491 $ 11,449,681 $ (19,848,297 ) $ (8,350,125 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 28, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, 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 February 28, 2021 February 29, 2020, 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 February 28, 2021 February 29, 2020, |
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 |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | February 28, 2021 February 29, 2020 Warrants 2,925,000 3,925,000 TOTAL POSSIBLE DILUTION 2,925,000 3,925,000 |
Note 6 - Promissory and Conve_2
Note 6 - Promissory and Convertible Notes Payable (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | February 28, 2021 February 29 2020 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) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | February 28, 2021 February 29, 2020 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 10 - Warrants (Tables)
Note 10 - Warrants (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | February 28, 2021 February 28, 2020 Warrants Price (a) Warrants Price (a) Beginning balance 3,925,000 $ .25 2,129,802 $ 1.00 Issued –– –– 2,925,000 .19 Exercised –– –– –– –– Expired (1,000,000 ) –– (1,129,802 ) –– Ending balance 2,925,000 $ 0.25 3,925,000 $ .25 |
Schedule of Warrants Granted [Table Text Block] | Date of Grant Warrants Warrants Price Remaining term November 19, 2016 500,000 500,000 $ .25 0.22 July 10, 2017 500,000 500,000 .25 0.78 March 20, 2019 1,250,000 1,250,000 .25 1.05 April 17, 2019 675,000 675,000 .25 1.13 Total warrants 2,925,000 2,925,000 $ .25 .89 |
Note 12 - Restatement of Fina_2
Note 12 - Restatement of Financial Statements (Tables) | 12 Months Ended |
Feb. 28, 2021 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | February 28, February 28, 2021 2021 (As Filed) Adjustments (As Restated) ASSETS Current Assets Cash $ 47 $ 1,969,461 $ 1,969,508 Total Current Assets 47 1,969,461 1,969,508 Deposits - Related Party — 1,200,000 1,200,000 Total Assets $ 47 $ 3,169,461 $ 3,169,508 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable and Accrued Expenses $ 220,140 $ — $ 220,140 Accounts Payable and Accrued Expenses - Related Parties 343,770 (38,600 ) 305,170 Common Stock Payable - for Contracts/Agreements 200,000 1,300,000 1,500,000 Common Stock Payable - Deposits Received on Subscription Agreements — 9,128,104 9,128,104 Convertible Note Payable 67,500 — 67,500 Derivative Liability 116,399 — 116,399 Promissory Notes Payable 76,305 — 76,305 Promissory Notes Payable - Related Parties 106,015 — 106,015 Total Current Liabilities 1,130,129 10,389,504 11,519,633 Total Liabilities 1,130,129 10,389,504 11,519,633 Stockholders' Deficit Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively 48,491 — 48,491 Additional Paid-In-Capital 11,449,681 — 11,449,681 Accumulated Deficit (12,628,254 ) (7,220,043 ) (19,848,297 ) Total Stockholders' Deficit (1,130,082 ) (7,220,043 ) (8,350,125 ) Total Liabilities and Stockholders' Deficit $ 47 $ 3,169,461 $ 3,169,508 For the Year Ended February 28, February 28, 2021 2021 (As Filed) Adjustments (Restated) Operating Expenses Advertising and Marketing $ — $ — $ — Management Fees and Consulting 98,334 — 98,334 General and Administrative — 240,467 240,467 Professional Fees 112,595 171,300 283,895 Total Operating Expenses 210,929 411,767 622,696 Other (Income) and Expenses Bad Debts — — — Unrealized Loss Common Stock Payable — 6,808,276 6,808,276 Gain on Derivative (21,787 ) — (21,787 ) Interest Expense 28,257 — 28,257 Interest Expense - Warrants — — — Joint Venture - Write Off — — — Total Other (Income) and Expenses 6,470 6,808,276 6,814,746 Loss Before Income Tax Expense 217,399 7,220,043 7,437,442 Income Tax Expense — — — Net Loss $ 217,399 $ 7,220,043 $ 7,437,442 Weighted Average Number of Common Shares - Basic and Diluted 48,491,485 48,491,485 Net Loss Per Common Shares - Basic and Diluted $ 0.00 $ 0.15 February 28, February 28, For the Year Ended 2021 2021 (As Filed) Adjustments (Restated) Cash Flows from Operating Activities Net Loss $ (217,399 ) $ (7,220,043 ) $ (7,437,442 ) Non-Cash Adjustments: Common Stock Subscribed for Rent — 240,000 240,000 Bad Debts — — — Unrealized Loss Common Stock Payable — 6,808,276 6,808,276 Deposits Written Off — — — Gain on Derivative (21,787 ) — (21,787 ) Interest on Default of Convertible Note — — — Interest Expense on Convertible Note Warrants — — — Joint Venture - Write Off — — — Changes in Assets and Liabilities: Notes Receivable — — — Accounts Payable and Accrued Expenses 72,253 — 72,253 Accounts Payable and Accrued Expenses - Related Parties 166,933 (38,600 ) 128,333 Net Cash Flows Used In Operating Activities — (210,367 ) (210,367 ) Cash Flows from Investing Activities Investment in Joint Venture — — — Deposits - Related Party — (1,200,000 ) (1,200,000 ) Net Cash Flows Used In Investing Activities — (1,200,000 ) (1,200,000 ) Cash Flows from Financing Activities Proceeds from Notes Payable — — — Proceeds from Stock Subscription — 3,379,828 3,379,828 Cash Proceeds Received from Convertible Note Payable — — — Proceeds from Notes Payable - Related Parties — — — Net Cash Flows Provided by Financing Activities — 3,379,828 3,379,828 Net Change in Cash — 1,969,461 1,969,461 Cash - Beginning of Year 47 — 47 Cash - End of Year $ 47 $ 1,969,461 $ 1,969,508 Cash Paid During the Year for: Interest $ — $ — Income Taxes $ — $ — Common Stock Additional Total $0.001 Par Paid-In Accumulated Stockholders' As Filed Shares Amount Capital Deficit Deficit Balance - March 1, 2020 48,491,485 $ 48,491 $ 11,449,681 $ (12,410,855 ) $ (912,683 ) Net Loss - (As Filed) — — — (217,399 ) (217,399 ) Balance - February 28, 2021 - (As Filed) 48,491,485 $ 48,491 $ 11,449,681 $ (12,628,254 ) $ (1,130,082 ) Common Stock Additional Total $0.001 Par Paid-In Accumulated Stockholders' As Restated Shares Amount Capital Deficit Deficit Balance - March 1, 2020 48,491,485 $ 48,491 $ 11,449,681 $ (12,410,855 ) $ (912,683 ) Net Loss - (Restated) — — — (7,437,442 ) (7,437,442 ) Balance - February 28, 2021 - (Restated) 48,491,485 $ 48,491 $ 11,449,681 $ (19,848,297 ) $ (8,350,125 ) |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
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 | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Warrants (in shares) | 2,925,000 | 3,925,000 |
TOTAL POSSIBLE DILUTION (in shares) | 2,925,000 | 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 ($) | Feb. 28, 2021USD ($) | Feb. 29, 2020USD ($) | Jun. 08, 2018CAD ($) | Dec. 05, 2016CAD ($) |
Deposits Written Off | $ 0 | $ 7,822 | ||||||
Deposits Assets, Noncurrent | $ 1,200,000 | $ 0 | ||||||
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 | |||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 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% |
Note 6 - Promissory and Conve_3
Note 6 - Promissory and Convertible Notes Payable (Details Textual) | 12 Months Ended | ||||
Feb. 28, 2021USD ($)$ / shares | Feb. 29, 2020USD ($) | Apr. 30, 2021USD ($) | Jun. 18, 2019USD ($) | Apr. 30, 2019USD ($) | |
Interest Expense, Total | $ 28,257 | $ 45,743 | |||
Convertible Notes Payable, Current | $ 67,500 | 67,500 | |||
Share Price (in dollars per share) | $ / shares | $ 0.75 | ||||
Derivative Liability, Current | $ 116,399 | 138,185 | |||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | $ 21,787 | (138,185) | |||
The Power Up Note [Member] | |||||
Debt Instrument, Debt Default, Amount | $ 67,500 | ||||
The Power Up Note [Member] | Subsequent Event [Member] | |||||
Long-term Debt, Total | $ 70,200 | ||||
Measurement Input, Exercise Price [Member] | |||||
Debt Instrument, Measurement Input | 0.39 | ||||
Measurement Input, Price Volatility [Member] | |||||
Debt Instrument, Measurement Input | 4.0396 | ||||
Measurement Input, Discount Rate [Member] | |||||
Debt Instrument, Measurement Input | 0.00080 | ||||
Unsecured Debt [Member] | |||||
Interest Expense, Total | $ 5,807 | 2,805 | |||
Convertible Notes Payable [Member] | |||||
Interest Expense, Total | 14,852 | $ 34,144 | |||
Convertible Notes Payable, Current | $ 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 ($) | Feb. 28, 2021 | Feb. 29, 2020 |
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 2015 [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 | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Feb. 28, 2019 |
Interest Expense, Total | $ 28,257 | $ 45,743 | |||
Accounts Payable, Related Parties, Current | 305,170 | 176,837 | $ 305,170 | ||
Advisory Company Owned by Former CEO [Member] | |||||
Interest Expense, Total | 7,598 | 8,794 | |||
Related Party Transaction, Monthly Management Fee | $ 15,000 | ||||
Related Party Transaction, Disputed Amount | 150,000 | 150,000 | |||
Accounts Payable, Related Parties, Current | 107,868 | 17,868 | 107,868 | ||
Advisory Company Owned by Former CEO [Member] | Management Fee [Member] | |||||
Due to Related Parties, Current, Total | 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 | $ 197,302 | $ 158,969 | $ 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 ($) | Feb. 28, 2021 | Feb. 29, 2020 |
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 Payable (
Note 8 - Common Stock Payable (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Common Stock Payable for Contracts/Agreements, Current (in shares) | 1,500,000 | 200,000 |
Share Price (in dollars per share) | $ 0.75 | |
Common Stock Payable Unrealized Loss [Member] | ||
Difference Value of Cost at the Contracts or Agreement and Market Value | $ 1,060,000 | |
Difference Value of Cost at the Deposits Received on Subscription Agreements and Market Value | $ 5,748,276 | |
Raul Factor [Member] | ||
Common Stock Payable for Contracts/Agreements, Current (in shares) | 1,000,000 | |
Landlord [Member] | ||
Common Stock Payable for Contracts/Agreements, Current (in shares) | 1,000,000 | |
Various Investors [Member] | ||
Common Stock, Shares Subscribed but Unissued (in shares) | 12,170,806 |
Note 9 - Common Stock (Details
Note 9 - Common Stock (Details Textual) | Feb. 28, 2021$ / sharesshares | Feb. 29, 2020$ / sharesshares |
Common Stock, Shares Authorized (in shares) | shares | 495,000,000 | 495,000,000 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 |
Common Stock, Voting Rights, Number of Votes Per Share | 1 | |
Preferred Stock, Shares Authorized (in shares) | shares | 5,000,000 | |
Preferred Stock, No Par Value (in dollars per share) | $ / shares | $ 0 |
Note 10 - Warrants (Details Tex
Note 10 - Warrants (Details Textual) | Jun. 28, 2019USD ($)$ / sharesshares | Apr. 17, 2019USD ($)$ / sharesshares | Mar. 20, 2019USD ($)shares | Mar. 31, 2018$ / sharesshares | Jul. 10, 2017$ / sharesshares | Feb. 29, 2020$ / sharesshares | Feb. 28, 2021$ / shares | Feb. 28, 2019$ / shares | |
Class of Warrant or Right, Issued During Period (in shares) | shares | 2,925,000 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | [1] | $ 0.19 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 1 | |||||
Warrants Issued in the 2018 Offering [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 500,000 | ||||||||
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ 0.21 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 1 year | ||||||||
Amended Warrants With An Expiration Date of June 9, 2020 [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 500,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||||
Warrants Granted March 20, 2019 [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 1,250,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | 0.25 | ||||||||
Warrants and Rights Outstanding | $ | $ 76,243 | $ 200,439 | |||||||
Warrants Granted April 17, 2019 [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 675,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Warrants Issued to Eight Investors [Member] | |||||||||
Warrants and Rights Outstanding, Term (Year) | 36 months | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 1,925,000 | ||||||||
Warrants and Rights Outstanding | $ | $ 276,682 | ||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Exercise Price [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.25 | ||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Price Volatility [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 2.28 | ||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.0234 | ||||||||
Warrants Issued to Eight Investors [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.0237 | ||||||||
Warrants Granted June 28, 2019 [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 1,000,000 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 18 months | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.25 | ||||||||
Warrants and Rights Outstanding | $ | $ 176,579 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Exercise Price [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.25 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Price Volatility 1 [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 3.6099 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Price Volatility 2 [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 3.5188 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Price Volatility 3 [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 3.3945 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Discount Rate 1 [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.0175 | ||||||||
Warrants Granted June 28, 2019 [Member] | Measurement Input, Discount Rate 2 [Member] | |||||||||
Warrants and Rights Outstanding, Measurement Input (in dollars per share) | 0.0171 | ||||||||
Warrants Extended Terms for Two and Half Years [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 500,000 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years 6 months | ||||||||
Warrants Extended Terms for Two Years [Member] | |||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 500,000 | ||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | ||||||||
[1] | Weighted average exercise price per shares |
Note 10 - Warrants - Summary of
Note 10 - Warrants - Summary of Warrants Issued and Outstanding (Details) - $ / shares | 12 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | ||
Beginning balance (in shares) | 3,925,000 | 2,129,802 | |
Beginning balance (in dollars per share) | [1] | $ 0.25 | $ 1 |
Issued (in shares) | 2,925,000 | ||
Issued (in dollars per share) | [1] | $ 0.19 | |
Expired (in shares) | (1,000,000) | (1,129,802) | |
Ending balance (in shares) | 2,925,000 | 3,925,000 | |
Ending balance (in dollars per share) | [1] | $ 0.25 | $ 0.25 |
[1] | Weighted average exercise price per shares |
Note 10 - Warrants - Additional
Note 10 - Warrants - Additional Information About Warrants Granted (Details) - $ / shares | 12 Months Ended | |||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2019 | ||
Warrants outstanding (in shares) | 2,925,000 | 3,925,000 | 2,129,802 | |
Warrants exercisable (in shares) | 2,925,000 | |||
Warrants, price (in dollars per share) | [1] | $ 0.25 | $ 0.25 | $ 1 |
Warrants, remaining term (Year) | 10 months 20 days | |||
Warrants Granted November 19, 2016 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 2 months 19 days | |||
Warrants Granted July 10, 2017 [Member] | ||||
Warrants outstanding (in shares) | 500,000 | |||
Warrants exercisable (in shares) | 500,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 9 months 10 days | |||
Warrants Granted March 20, 2019 [Member] | ||||
Warrants outstanding (in shares) | 1,250,000 | |||
Warrants exercisable (in shares) | 1,250,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 1 year 18 days | |||
Warrants Granted April 17, 2019 [Member] | ||||
Warrants outstanding (in shares) | 675,000 | |||
Warrants exercisable (in shares) | 675,000 | |||
Warrants, price (in dollars per share) | $ 0.25 | |||
Warrants, remaining term (Year) | 1 year 1 month 17 days | |||
[1] | Weighted average exercise price per shares |
Note 11 - Other Matters - Joi_2
Note 11 - Other Matters - Joint Venture (Details Textual) - USD ($) | Jul. 11, 2019 | Apr. 02, 2019 | Apr. 16, 2016 | Feb. 29, 2020 | Feb. 28, 2021 | Jul. 08, 2019 | Jun. 28, 2019 | Feb. 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 | $ 1 | |||||
Warrants to Purchase Restricted Shares Issued to RF [Member] | |||||||||
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 (Year) | 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 | ||||||||
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 (Year) | 90 years | ||||||||
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 | ||||||||
Raul Factor [Member] | |||||||||
Common Stock Payable Current for Contracts Agreements Current | $ 750,000 | ||||||||
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 |
Note 12 - Restatement of Fina_3
Note 12 - Restatement of Financial Statements - Restatement of Financial Statements (Details) - USD ($) | 12 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Current Assets | ||
Cash | $ 1,969,508 | $ 47 |
Total Current Assets | 1,969,508 | 47 |
Deposits - Related Party | 1,200,000 | 0 |
Total Assets | 3,169,508 | 47 |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 220,140 | 147,888 |
Accounts Payable and Accrued Expenses - Related Parties | $ 305,170 | $ 176,837 |
Common Stock Payable - for Contracts/Agreements (in shares) | 1,500,000 | 200,000 |
Common Stock Payable - Deposits Received on Subscription Agreements | $ 9,128,104 | $ 0 |
Convertible Note Payable | 67,500 | 67,500 |
Derivative Liability | 116,399 | 138,185 |
Promissory Notes Payable | 76,305 | 76,305 |
Promissory notes payable, related party | 106,015 | 106,015 |
Total Current Liabilities | 11,519,633 | 912,730 |
Total Liabilities | 11,519,633 | 912,730 |
Stockholders' Deficit | ||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively | 48,491 | 48,491 |
Additional Paid-In-Capital | 11,449,681 | 11,449,681 |
Accumulated Deficit | (19,848,297) | (12,410,855) |
Total Stockholders' Deficit | (8,350,125) | (912,683) |
Total Liabilities and Stockholders' Deficit | 3,169,508 | 47 |
Operating Expenses | ||
Advertising and Marketing | 0 | 888 |
Management Fees and Consulting | 98,334 | 11,750 |
General and Administrative | 240,467 | 37,791 |
Professional Fees | 283,895 | 183,930 |
Total Operating Expenses | 622,696 | 234,359 |
Other (Income) and Expenses | ||
Bad Debts | 0 | 30,000 |
Unrealized Loss Common Stock Payable | 6,808,276 | 0 |
(Gain) Loss on Derivative | (21,787) | 138,185 |
Interest Expense | 28,257 | 45,743 |
Interest Expense - Warrants | 0 | 453,261 |
Joint Venture - Write Off | 0 | 150,000 |
Total Other (Income) and Expenses | 6,814,746 | 817,189 |
Loss Before Income Tax Expense | 7,437,442 | 1,051,548 |
Income Tax Expense | 0 | 0 |
Net Loss | $ 7,437,442 | $ 1,051,548 |
Weighted Average Number of Common Shares - | ||
Weighted Average Number of Common Shares - Basic and Diluted (in shares) | 48,491,485 | |
Net Loss Per Common Shares - | ||
Net Loss Per Common Shares - Basic and Diluted (in dollars per share) | $ (0.15) | $ (0.02) |
Cash Flows from Operating Activities | ||
Net Loss | $ (7,437,442) | $ (1,051,548) |
Non-Cash Adjustments: | ||
Common Stock Subscribed for Rent | 240,000 | 0 |
Bad Debts | 0 | 30,000 |
Unrealized Loss Common Stock Payable | 6,808,276 | 0 |
Deposits Written Off | 0 | 7,822 |
(Gain) Loss on Derivative | (21,787) | 138,185 |
Interest on Default of Convertible Note | 0 | 22,500 |
Interest Expense on Convertible Note Warrants | 0 | 453,261 |
Joint Venture - Write Off | 0 | 150,000 |
Changes in Assets and Liabilities: | ||
Notes Receivable | 0 | (30,000) |
Accounts Payable and Accrued Expenses | 72,253 | 79,557 |
Accounts Payable and Accrued Expenses - Related Parties | 128,333 | (6,348) |
Net Cash Flows Used In Operating Activities | (210,367) | (206,571) |
Cash Flows from Investing Activities | ||
Investment in Joint Venture | 0 | (150,000) |
Deposits - Related Party | (1,200,000) | 0 |
Net Cash Flows Used In Investing Activities | (1,200,000) | (150,000) |
Cash Flows from Financing Activities | ||
Proceeds from Notes Payable | 0 | 68,325 |
Proceeds from Stock Subscription | 3,379,828 | 200,000 |
Cash Proceeds Received from Convertible Note Payable | 0 | 45,000 |
Proceeds from Notes Payable - Related Parties | 0 | 41,715 |
Net Cash Flows Provided by Financing Activities | 3,379,828 | 355,040 |
Net Change in Cash | 1,969,461 | (1,531) |
Cash - Beginning of Year | 47 | 1,578 |
Cash - End of Year | 1,969,508 | 47 |
Cash Paid During the Year for: | ||
Interest | 0 | 0 |
Income Taxes | 0 | 0 |
Balance | (912,683) | (314,396) |
Net Loss | (7,437,442) | (1,051,548) |
Balance | (8,350,125) | (912,683) |
Common Stock [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | 48,491 | 48,491 |
Other (Income) and Expenses | ||
Net Loss | 0 | 0 |
Cash Flows from Operating Activities | ||
Net Loss | $ 0 | $ 0 |
Cash Paid During the Year for: | ||
Balance (in shares) | 48,491,485 | 48,491,485 |
Balance | $ 48,491 | $ 48,491 |
Net Loss | $ 0 | $ 0 |
Balance (in shares) | 48,491,485 | 48,491,485 |
Balance | $ 48,491 | $ 48,491 |
Additional Paid-in Capital [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | 11,449,681 | 11,449,681 |
Other (Income) and Expenses | ||
Net Loss | 0 | 0 |
Cash Flows from Operating Activities | ||
Net Loss | 0 | 0 |
Cash Paid During the Year for: | ||
Balance | 11,449,681 | 10,996,420 |
Net Loss | 0 | 0 |
Balance | 11,449,681 | 11,449,681 |
Retained Earnings [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | (19,848,297) | (12,410,855) |
Other (Income) and Expenses | ||
Net Loss | 7,437,442 | 1,051,548 |
Cash Flows from Operating Activities | ||
Net Loss | (7,437,442) | (1,051,548) |
Cash Paid During the Year for: | ||
Balance | (12,410,855) | (11,359,307) |
Net Loss | (7,437,442) | (1,051,548) |
Balance | (19,848,297) | (12,410,855) |
Previously Reported [Member] | ||
Current Assets | ||
Cash | 47 | |
Total Current Assets | 47 | |
Deposits - Related Party | 0 | |
Total Assets | 47 | |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 220,140 | |
Accounts Payable and Accrued Expenses - Related Parties | $ 343,770 | |
Common Stock Payable - for Contracts/Agreements (in shares) | 200,000 | |
Convertible Note Payable | $ 67,500 | |
Derivative Liability | 116,399 | |
Promissory Notes Payable | 76,305 | |
Promissory notes payable, related party | 106,015 | |
Total Current Liabilities | 1,130,129 | |
Total Liabilities | 1,130,129 | |
Stockholders' Deficit | ||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively | 48,491 | |
Additional Paid-In-Capital | 11,449,681 | |
Accumulated Deficit | (12,628,254) | |
Total Stockholders' Deficit | (1,130,082) | (912,683) |
Total Liabilities and Stockholders' Deficit | 47 | |
Operating Expenses | ||
Advertising and Marketing | 0 | |
Management Fees and Consulting | 98,334 | |
General and Administrative | 0 | |
Professional Fees | 112,595 | |
Total Operating Expenses | 210,929 | |
Other (Income) and Expenses | ||
Bad Debts | 0 | |
Unrealized Loss Common Stock Payable | 0 | |
(Gain) Loss on Derivative | (21,787) | |
Interest Expense | 28,257 | |
Interest Expense - Warrants | 0 | |
Joint Venture - Write Off | 0 | |
Total Other (Income) and Expenses | 6,470 | |
Loss Before Income Tax Expense | 217,399 | |
Income Tax Expense | 0 | |
Net Loss | $ 217,399 | |
Weighted Average Number of Common Shares - | ||
Weighted Average Number of Common Shares - Basic and Diluted (in shares) | 48,491,485 | |
Net Loss Per Common Shares - | ||
Net Loss Per Common Shares - Basic and Diluted (in dollars per share) | $ 0 | |
Cash Flows from Operating Activities | ||
Net Loss | $ (217,399) | |
Non-Cash Adjustments: | ||
Common Stock Subscribed for Rent | 0 | |
Bad Debts | 0 | |
Unrealized Loss Common Stock Payable | 0 | |
Deposits Written Off | 0 | |
(Gain) Loss on Derivative | (21,787) | |
Interest on Default of Convertible Note | 0 | |
Interest Expense on Convertible Note Warrants | 0 | |
Joint Venture - Write Off | 0 | |
Changes in Assets and Liabilities: | ||
Notes Receivable | 0 | |
Accounts Payable and Accrued Expenses | 72,253 | |
Accounts Payable and Accrued Expenses - Related Parties | 166,933 | |
Net Cash Flows Used In Operating Activities | 0 | |
Cash Flows from Investing Activities | ||
Investment in Joint Venture | 0 | |
Deposits - Related Party | 0 | |
Net Cash Flows Used In Investing Activities | 0 | |
Cash Flows from Financing Activities | ||
Proceeds from Notes Payable | 0 | |
Proceeds from Stock Subscription | 0 | |
Cash Proceeds Received from Convertible Note Payable | 0 | |
Proceeds from Notes Payable - Related Parties | 0 | |
Net Cash Flows Provided by Financing Activities | 0 | |
Net Change in Cash | 0 | |
Cash - Beginning of Year | 47 | |
Cash - End of Year | 47 | 47 |
Cash Paid During the Year for: | ||
Balance | (912,683) | |
Net Loss | (217,399) | |
Balance | (1,130,082) | (912,683) |
Previously Reported [Member] | Common Stock [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | 48,491 | $ 48,491 |
Other (Income) and Expenses | ||
Net Loss | 0 | |
Cash Flows from Operating Activities | ||
Net Loss | $ 0 | |
Cash Paid During the Year for: | ||
Balance (in shares) | 48,491,485 | |
Balance | $ 48,491 | |
Net Loss | $ 0 | |
Balance (in shares) | 48,491,485 | 48,491,485 |
Balance | $ 48,491 | $ 48,491 |
Previously Reported [Member] | Additional Paid-in Capital [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | 11,449,681 | 11,449,681 |
Other (Income) and Expenses | ||
Net Loss | 0 | |
Cash Flows from Operating Activities | ||
Net Loss | 0 | |
Cash Paid During the Year for: | ||
Balance | 11,449,681 | |
Net Loss | 0 | |
Balance | 11,449,681 | 11,449,681 |
Previously Reported [Member] | Retained Earnings [Member] | ||
Stockholders' Deficit | ||
Total Stockholders' Deficit | (12,628,254) | (12,410,855) |
Other (Income) and Expenses | ||
Net Loss | 217,399 | |
Cash Flows from Operating Activities | ||
Net Loss | (217,399) | |
Cash Paid During the Year for: | ||
Balance | (12,410,855) | |
Net Loss | (217,399) | |
Balance | (12,628,254) | (12,410,855) |
Revision of Prior Period, Adjustment [Member] | ||
Current Assets | ||
Cash | 1,969,461 | |
Total Current Assets | 1,969,461 | |
Deposits - Related Party | 1,200,000 | |
Total Assets | 3,169,461 | |
Current Liabilities | ||
Accounts Payable and Accrued Expenses | 0 | |
Accounts Payable and Accrued Expenses - Related Parties | $ (38,600) | |
Common Stock Payable - for Contracts/Agreements (in shares) | 1,300,000 | |
Common Stock Payable - Deposits Received on Subscription Agreements | $ 9,128,104 | |
Convertible Note Payable | 0 | |
Derivative Liability | 0 | |
Promissory Notes Payable | 0 | |
Promissory notes payable, related party | 0 | |
Total Current Liabilities | 10,389,504 | |
Total Liabilities | 10,389,504 | |
Stockholders' Deficit | ||
Common Stock - $0.001 Par; 495,000,000 Shares Authorized, 48,491,485 Issued and Outstanding, Respectively | 0 | |
Additional Paid-In-Capital | 0 | |
Accumulated Deficit | (7,220,043) | |
Total Stockholders' Deficit | (7,220,043) | |
Total Liabilities and Stockholders' Deficit | 3,169,461 | |
Operating Expenses | ||
Advertising and Marketing | 0 | |
Management Fees and Consulting | 0 | |
General and Administrative | 240,467 | |
Professional Fees | 171,300 | |
Total Operating Expenses | 411,767 | |
Other (Income) and Expenses | ||
Bad Debts | 0 | |
Unrealized Loss Common Stock Payable | 6,808,276 | |
(Gain) Loss on Derivative | 0 | |
Interest Expense | 0 | |
Interest Expense - Warrants | 0 | |
Joint Venture - Write Off | 0 | |
Total Other (Income) and Expenses | 6,808,276 | |
Loss Before Income Tax Expense | 7,220,043 | |
Income Tax Expense | 0 | |
Net Loss | 7,220,043 | |
Cash Flows from Operating Activities | ||
Net Loss | (7,220,043) | |
Non-Cash Adjustments: | ||
Common Stock Subscribed for Rent | 240,000 | |
Bad Debts | 0 | |
Unrealized Loss Common Stock Payable | 6,808,276 | |
Deposits Written Off | 0 | |
(Gain) Loss on Derivative | 0 | |
Interest on Default of Convertible Note | 0 | |
Interest Expense on Convertible Note Warrants | 0 | |
Joint Venture - Write Off | 0 | |
Changes in Assets and Liabilities: | ||
Notes Receivable | 0 | |
Accounts Payable and Accrued Expenses | 0 | |
Accounts Payable and Accrued Expenses - Related Parties | (38,600) | |
Net Cash Flows Used In Operating Activities | (210,367) | |
Cash Flows from Investing Activities | ||
Investment in Joint Venture | 0 | |
Deposits - Related Party | (1,200,000) | |
Net Cash Flows Used In Investing Activities | (1,200,000) | |
Cash Flows from Financing Activities | ||
Proceeds from Notes Payable | 0 | |
Proceeds from Stock Subscription | 3,379,828 | |
Cash Proceeds Received from Convertible Note Payable | 0 | |
Proceeds from Notes Payable - Related Parties | 0 | |
Net Cash Flows Provided by Financing Activities | 3,379,828 | |
Net Change in Cash | 1,969,461 | |
Cash - Beginning of Year | 0 | |
Cash - End of Year | 1,969,461 | $ 0 |
Cash Paid During the Year for: | ||
Net Loss | (7,220,043) | |
Balance | $ (7,220,043) |
Note 12 - Restatement of Fina_4
Note 12 - Restatement of Financial Statements - Restatement of Financial Statements (Details) (Parentheticals) - $ / shares | Feb. 28, 2021 | Feb. 29, 2020 |
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) | 48,491,485 | 48,491,485 |
Common stock, shares outstanding (in shares) | 48,491,485 | 48,491,485 |