v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
May 31, 2024
Feb. 29, 2024
Feb. 28, 2023
ASSETS      
Cash and cash equivalents $ 36,679 $ 323,805 $ 282,475
Promissory note receivable, net 1,000,000 1,000,000 1,933,908
Accounts receivable, net 27,760 34,082
Prepaid expenses and other current assets 360,590 340,921 8,613
Total Current Assets 1,425,029 1,698,808 2,224,996
Non-Current assets      
Property and equipment, net 5,294 6,642 16,226
Intangible assets, net 2,056,588 2,173,420 2,607,670
Security deposit 45,167 42,167 15,000
Goodwill 1,167,805 1,167,805
Right of Use Asset   1,020,443
Total Non-Current Assets 3,274,854 3,390,034 3,659,339
Total Assets 4,699,883 5,088,842 5,884,335
Current Liabilities      
Accounts payable 972,868 531,847 519,136
Accrued expenses 554,240 460,768 329,922
Convertible Notes   3,233,503
Deferred revenue 154,201 139,921 22,750
Operating Lease Liability – Short Term   149,339
Total Current Liabilities 3,534,177 1,960,813 4,535,650
Non- Current Liabilities      
Operating Lease Liability – Long Term   864,575
Total Non-Current Liabilities   864,575
Total Liabilities 3,534,177 1,960,813 5,400,225
Commitments and Contingencies
Stockholder’s Equity      
Preferred Stock, $0.001 par value; 10,000,000 shares authorized; 63,494 and 472,996 shares issued and outstanding, respectively 64 474
Common Stock, par value $0.001, 250,000,000 and 1,200,000 shares authorized, respectively; 1,345,932 and 936,430 shares issued and outstanding, respectively 1,346 936 [1] 83 [1]
Additional Paid in Capital 27,304,840 27,277,758 [1] 17,295,890 [1]
Accumulated deficit (26,140,544) (24,151,139) (16,811,863)
Total Stockholders’ Equity 1,165,706 3,128,029 [2] 484,110 [2],[3]
Total Liabilities and Stockholders’ Equity 4,699,883 5,088,842 5,884,335
Related Party [Member]      
Current Liabilities      
Notes payable - related parties 1,752,868 828,277 $ 281,000
Nonrelated Party [Member]      
Current Liabilities      
Notes payable - related parties $ 100,000  
[1] On December 29, 2023, Sigma Additive Solutions, Inc. acquired NextTrip in a reverse acquisition. NextTrip Group, LLC was issued 83,371 shares of Sigma Additive Solutions, Inc. common stock in exchange for 100% of the issued and outstanding capital stock of NextTrip at the time of the reverse acquisition. The Company has reflected this transaction retroactively in these financial statements.
[2] On December 29, 2023, Sigma Additive Solutions, Inc. acquired NextTrip in a reverse acquisition. NextTrip Group, LLC was issued 83,371 shares of Sigma Additive Solutions, Inc. common stock in exchange for 100% of the issued and outstanding capital stock of NextTrip at the time of the reverse acquisition. The Company has reflected this transaction retroactively in these financial statements.
[3] On December 29, 2023, Sigma Additive Solutions, Inc. acquired NextTrip in a reverse acquisition. NextTrip Group, LLC was issued 83,371 shares of Sigma Additive Solutions, Inc. common stock in exchange for 100% of the issued and outstanding capital stock of NextTrip at the time of the reverse acquisition. The Company has reflected this transaction retroactively in these financial statements.