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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)
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6 Months Ended |
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Aug. 31, 2013
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| NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
| THE NATURE OF OPERATIONS |
THE NATURE OF OPERATIONS
Repro-Med Systems, Inc. (the "Company") designs, manufactures, and markets proprietary medical devices primarily for the ambulatory infusion market and emergency medical applications. The FDA regulates these products. We use the d/b/a (doing business as) name RMS Medical Products, and use RMS as part of the branding of some products. |
| BASIS OF PRESENTATION |
BASIS OF PRESENTATION
The accompanying unaudited financial statements as of August 31, 2013 have been prepared in accordance with generally accepted accounting principles in accordance with instructions to regulation S-X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial presentation. |
| EMPLOYEE STOCK AWARDS |
EMPLOYEE STOCK AWARDS
In July 2012, 1,465,000 shares were authorized to issue to employees as share compensation valued at $0.18 per share, the market value on the date of the board authorization. The value of these shares will be amortized into operations over the one to two year restriction on the shares. |
| USE OF ESTIMATES IN THE FINANCIAL STATEMENTS |
USE OF ESTIMATES IN THE FINANCIAL STATEMENTS
The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Important estimates include, but are not limited to, asset lives, valuation allowances, inventory, and accruals. |
| SUBSEQUENT EVENTS EVALUATION |
SUBSEQUENT EVENTS EVALUATION
The Company has evaluated subsequent events through October 15, 2013, the date on which the financial statements were issued. There were no material subsequent events that required recognition or additional disclosure in the financial statements. |
| LEGAL PROCEEDINGS |
LEGAL PROCEEDINGS
The Company has commenced a declaratory judgment action to establish the invalidity of any claim that our needle sets infringe a patent of a competitor. The defendant has recently answered the complaint and asserted various counterclaims that the Company believes are without merit. Such claims are currently being reviewed by legal counsel. |
| EMERGING ACCOUNTING STANDARDS |
EMERGING ACCOUNTING STANDARDS
Management does not believe that any of the standards adopted by the Financial Accounting Standards Board, but which are not yet effective, will have a material effect on the Company's financial reporting. |
| LEASED AIRCRAFT |
LEASED AIRCRAFT
The Company leases an aircraft from a company controlled by the president. The lease payments aggregated were $5,375 for the three months ended August 31, 2013 and August 31, 2012 and $10,750 for the six months ended August 31, 2013 and August 31, 2012. The original lease agreement has expired and the Company is currently on a month-to-month basis for rental payments. |