UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

( X ) ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended February 28, ~~2018~~2019

( ) TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to __________________

Commission File No. 0-29373

Seychelle Environmental Technologies, Inc.

(Exact Name of registrant as specified in its charter)

Nevada	33-0836954
(State or other jurisdiction	(IRS Employer File Number)
Of incorporation)

22 Journey
Aliso Viejo, California	92656
(Address of principal executive offices)	(zip code)

(949) 234-1999

(Registrant's telephone number, including area code)

Securities Registered Pursuant to Section 12(b) of the Exchange Act: None

Securities Registered Pursuant to Section 12(g) of the Exchange Act:

Common Stock, $0.001 per share par value

Indicate by check mark if registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [] No [X].

Indicate by check mark if registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes [] No [X].

Indicate by check mark whether the registrant: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months or such shorter period that the registrant was required to submit and post such files. Yes [X] No [ ]

Check if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained herein to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller reporting company [X] ~~(Do not check if a smaller reporting company)~~ Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) : Yes [ ] No [X]

The number of shares outstanding of the registrant's common stock, as of ~~June~~May 724, ~~2018~~2019 was 26,640,313.

The aggregate market value of the voting stock of the Registrant held by non-affiliates as of August 31, ~~2017~~2018 was approximately $1,886,303.

References in this document to "Seychelle", "us," "we," or "Company" refer to Seychelle Environmental Technologies, Inc., a Nevada corporation and our wholly-owned subsidiaries, Seychelle Water Technologies, Inc. and Fill 2 Pure International, Inc., also Nevada corporations.

TABLE OF CONTENTS

PART I	Page
Item 1. Business	3
Item 1A. Risk Factors	76
Item 1B. Unresolved Staff Comments	129
Item 2. Properties	1210
Item 3. Legal Proceedings	1210
Item 4. Mine Safety Disclosures	1210
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	1310
Item 6. Selected Financial Data	1411
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations	1411
Item 7A. Quantitative and Qualitative Disclosures About Market Risk	1914
Item 8. Financial Statements and Supplementary Data	1914
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures	2015.
Item 9A. Controls and Procedures	2015
Item 9B. Other Information	2216
PART III
Item 10. Directors, Executive Officers and Corporate Governance	2216
Item 11. Executive Compensation	2418
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	2619
Item 13. Certain Relationships and Related Transactions, and Director Independence	2719
Item 14. Principal Accounting Fees and Services	2720
Item 15. Exhibits, Financial Statement Schedules	2921
Signatures	3123

- 2 -

FORWARD-LOOKING STATEMENTS

This report includes forward-looking statements within the meaning of Section 27A of the Securities Act (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these statements on our beliefs and assumptions, based on information currently available to us. These forward-looking statements are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations, our total market opportunity and our business plans and objectives set forth under the sections entitled "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."

Forward-looking statements are not guarantees of performance. Our future results and requirements may differ materially from those described in the forward-looking statements. Many of the factors that will determine these results and requirements are beyond our control. In addition to the risks and uncertainties discussed in "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," investors should consider those discussed under "Risk Factors."

These forward-looking statements speak only as of the date of this report. We do not intend to update or revise any forward-looking statements to reflect changes in our business, anticipated results of our operations, strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

PART I

ITEM 1. BUSINESS

History of Seychelle

We are a Nevada corporation. Our principal corporate office address is 22 Journey, Aliso Viejo, California 92656. Our telephone number at this address is 949-234-1999.

We were incorporated under the laws of the State of Nevada on January 23, 1998 as a change of domicile to Royal Net, Inc., a Utah corporation that was originally incorporated on January 24, 1986. Royal Net, Inc. changed its state of domicile to Nevada and its name to Seychelle Environmental Technologies, Inc. effective in January 1998.

On January 30, 1998, we entered into an Exchange Agreement with Seychelle Water Technologies, Inc., a Nevada corporation (SWT), whereby we exchanged our issued and outstanding capital shares with the shareholders of SWT on a one share for one share basis. We became the parent company and SWT became a wholly owned subsidiary. SWT had been formed in 1997 to market water filtration systems of Aqua Vision International.

Organization

Our Company is presently comprised of Seychelle Environmental Technologies, Inc., a Nevada corporation, with two wholly-owned subsidiaries, Seychelle Water Technologies, Inc. and Fill 2 Pure International, Inc., also Nevada corporations (collectively, the Company or Seychelle). We use the trade name "Seychelle Water Filtration Products, Inc." in our commercial operations.

~~Business of Seychelle~~3

~~General~~Business of Seychelle

Seychelle designs, assembles and distributes unique, state-of-the-art ionic adsorption micron filters specifically for portable filter devices that remove up to 99.99% of all pollutants and contaminants found in any fresh water source as well as increase the alkalinity of the water up a pH level of 9.5. Seychelle water filtration products address a worldwide problem of access to clean drinking water and makes available low-cost, effective filtration products that will meet the need for safe, great tasting, and high quality drinking water.General

Seychelle ~~markets~~designs, ~~its~~assembles ~~portable~~and ~~water~~distributes ~~filtration~~unique, ~~bottles~~state-of-the-art ionic ~~throughout~~absorption ~~the~~micron ~~world~~filters tospecifically ~~customers~~for ~~such~~portable asfilter ~~individuals,~~devices ~~dealers,~~that ~~distributors, non-governmental~~remove ~~organizations~~up to 99.99% of all pollutants and ~~emergency~~contaminants found ~~relief~~in ~~organizations~~any ~~such~~fresh water source as ~~the~~well ~~Jimmy~~as ~~Bakker~~increase ~~Ministry.~~the Inalkalinity ~~addition,~~of the ~~Company~~water ~~has~~up ~~donated~~to ~~thousands~~a pH level of ~~portable~~9.5. ~~bottles~~Seychelle water filtration products address a worldwide problem of access to ~~church~~clean ~~groups~~drinking water and ~~missionaries~~makes ~~worldwide~~available ~~during~~low-cost, ~~the~~effective ~~life~~filtration ofproducts that will meet the ~~Company~~need for safe, great tasting, and high quality drinking water.

-Seychelle 3markets its portable water filtration bottles throughout the world to customers such as individuals, dealers, distributors, non-governmental organizations and emergency relief organizations such as the Jimmy Bakker Ministry. In addition, the Company has donated thousands of portable bottles to church groups and missionaries worldwide during the life of the Company.

In developing countries, many people in rural areas boil their water for drinking and cooking to kill bacteria, but this process does not remove the pyrogens, chemicals, toxins, volatile organic compounds, heavy metals or other pathogens that remain in the water. The World Health Organization estimates that approximately 2.2 million people, mostly children in developing nations, die annually from water-related diseases.

Business Plan

The management of Seychelle has substantial experience in developing improvements and innovations in the field of bottled water, reverse osmosis, ultra filtration and filter technology. As a result, our products can deliver up to 2 micron absolute filtration for pennies per gallon, with pressure as low as 2 pounds per square inch (PSI). Further, our point of difference filtration systems ~~removes~~remove up to 99.99% of pollutants and contaminants most commonly found in fresh drinking water supplies in the five major areas of concern as follows:

AESTHETICS: Taste, chlorine, sand, sediment and odor problems.

BIOLOGICS: Pathogens such as Cryptosporidium, Giardia and E.Coli Bacteria.

CHEMICALS: Pesticides, detergents, toxic chemicals and industrial waste.

DISSOLVED SOLIDS: Heavy metals such as aluminum, asbestos, copper, lead, mercury and chromium 6.

RADIOLOGICAL: Cesium 134 & 137, Radon, Radium, Uranium, Radioactive Iodine, etc.

~~New~~Seychelle pHfilters ~~Product~~have ~~which~~been ~~increases~~tested by independent and government laboratories. Selected results from the ~~alkalinity~~United ofStates ~~source~~are ~~water~~displayed upon toour 9Website at www.5seychelle.com, pHbut ~~level~~such orinformation included on our website is not incorporated into this filing. The benefit of such filtration can save lives worldwide as more people become aware of the benefits of using products utilizing Seychelle's proprietary portable water filtration technology.

~~Seychelle~~Principal ~~filters~~Products ~~have~~or ~~been~~Services ~~tested by independent~~ and ~~government~~Their laboratories. Selected results from the United States are displayed on our Website at www.seychelle.com, but such information included on our website is not incorporated into this filing. The benefit of such filtration can save lives worldwide as more people become aware of the benefits of using products utilizing Seychelle's proprietary portable water filtration technology.Markets

~~Principal~~Current Products ~~or Services and Their Markets~~

~~Current~~Seychelle ~~Products~~has a varied line of portable filter bottles for people on the go. The current products include: Flip-Top and Pull Top bottles, Canteens, Water Pitchers, Pure Water Pump, Stainless Steel bottles, In-Line Filter, Pure Water Bag, Pump N' Pure, Pure Water Pouch and Pure Water Straws. They include regular, standard or advanced filters (for virus and bacteria control up to 99.99% reduction). Sizes are from 20 ounces to 42 ounces, and provide up to 150 gallons of pure drinking water from any fresh water source; running or stagnant (such as rivers, lakes, ponds and streams).

Seychelle has a varied line of portable filter bottles for people on the go. The current products include: Flip-Top and Pull Top bottles, Canteens, Water Pitchers, Pure Water Pump, Stainless Steel bottles, In-Line Filter, Pure Water Bag, Pump N' Pure, Pure Water Pouch and Pure Water Straws. They include regular, standard or advanced filters (for virus and bacteria control up to 99.99% reduction). Sizes are from 20 ounces to 42 ounces, and provide up to 150 gallons of pure drinking water from any fresh water source; running or stagnant (such as rivers, lakes, ponds and streams).4

New Products

Product design is a constant focus and all products are reviewed annually.

Manufacturing

The Company has determined that the production and assembly of some of our product components in China and Mexico through the use of third-party contract manufacturers at a lower cost than in the U.S. will still maintain equivalent quality standards. However, our proprietary filter will continue to be manufactured in the U.S. The assembly of all our products is completed at our facility in Aliso Viejo, California.

-Sales ~~4 -~~Channels

Sales ~~Channels~~channels pursued include: retail, missionaries, multi-level marketing, international, OEM and joint ventures. Several distributors sell the Company's portable water filtration products to customers in specific distribution channels; including: retail, multi-national corporations, foundations and sports.

~~Sales~~Raw channels pursued include: retail, missionaries, multi-level marketing, international, OEM and joint ventures. Several distributors sell the Company's portable water filtration products to customers in specific distribution channels; including: retail, multi-national corporations, foundations and sports.Materials

~~Raw~~Seychelle's ~~Materials~~filters include powdered, activated coconut and other media as components in the porous plastic ionic filter. To date, we believe there is an adequate availability of material for all of our products. We do not expect this situation to change in the near future.

~~Seychelle's~~Customers ~~filters include powdered, activated coconut~~ and other media as components in the porous plastic ionic filter. To date, we believe there is an adequate availability of material for all of our products. We do not expect this situation to change in the near future.Competition

~~Customers~~Seychelle products compete against companies offering water filtration and ~~Competition~~bottled water including (1) bottled water, (2) portable water filtration systems and (3) home water treatment systems provided by suppliers (such as independent dealers, distributors, catalogs, internet sellers, etc.) in the form of reverse osmosis systems, distillation, and filtration systems. Therefore, Seychelle's portable and home filtration products compete in a limited segment of the drinking water market as an alternative to other sources of filtered or purified drinking water.

Seychelle ~~products~~has ~~compete~~a negligible ~~against~~share ~~companies~~of ~~offering~~the ~~water~~world's ~~filtration~~filtered ~~and~~or ~~bottled~~purified water ~~including~~market. ~~(1)~~Our ~~bottled~~products ~~water,~~sell ~~(2)~~in ~~portable~~a niche ~~water~~category of the market - portable filtration ~~systems~~bottles ~~and~~that use powder-activated carbon filters that compete with our powder-activated coconut filters with various media called ionic adsorption micron filtration technology (3IAMF) ~~home~~which ~~water~~remove ~~treatment~~many ~~systems~~organic and ~~provided~~inorganic bycontaminants ~~suppliers~~that ~~(such~~simple asactivated ~~independent~~carbon ~~dealers,~~filters ~~distributors,~~cannot. ~~catalogs~~Most powder activated carbon filters on the market remove Chlorine, ~~internet~~sediment ~~sellers~~and dirt thus improving taste and odor, ~~etc.)~~as inwell ~~the~~as ~~form~~a handful of ~~reverse~~other ~~osmosis~~contaminants ~~systems~~such as Lead, ~~distillation~~Mercury, Zinc and ~~filtration systems~~Copper. ~~Therefore~~ This would include leading brands such as Brita, ~~Seychelle's~~PUR, ~~portable~~General Electric and ~~home~~Culligan, ~~filtration~~who ~~products~~collectively ~~compete~~dominate inthe home amarket. ~~limited~~In the portable segment of the ~~drinking~~market, ~~water~~there ~~market~~are ashundreds anof ~~alternative~~small tocompanies ~~other~~selling ~~sources~~a variety of ~~filtered~~specialized orfilters, with ~~purified~~no ~~drinking~~one ~~water~~company having a majority share and no industry data available. We believe that our current share of this market is negligible.

Seychelle ~~has~~sells ~~a negligible~~its ~~share of the world's filtered or purified water market. Our~~ products ~~sell~~ in atwo niche category of the market - portable filtration bottles that use powder-activated carbon filters that compete with our powder-activated coconut filters with various media called ionic adsorption micron filtration technology (IAMF) which remove many organic and inorganic contaminants that simple activated carbon filters cannotways. ~~Most~~First, ~~powder~~it ~~activated~~sells its ~~carbon~~own ~~filters~~brand onto ~~the~~individuals, ~~market~~dealers, ~~remove Chlorine~~distributors, ~~sediment~~multilevel ~~and~~marketing ~~dirt~~companies ~~thus improving taste~~ and ~~odor,~~missionaries ason ~~well as~~ a ~~handful~~direct ofbasis. ~~other contaminants such as Lead~~Second, the ~~Mercury,~~Company ~~Zinc~~offers specially ~~and~~designed ~~Copper.~~products ~~This~~to ~~would~~the ~~include~~same ~~leading~~customers ~~brands such~~ as ~~Brita,~~a ~~PUR,~~private ~~General~~label ~~Electric~~supplier ~~and~~if ~~Culligan,~~purchasers ~~who~~buy ~~collectively~~in ~~dominate the home market~~significant volume. In ~~the~~some ~~portable segment of the market~~instances, ~~there~~we ~~are~~may ~~hundreds~~supply ofonly ~~small companies selling a variety of specialized~~ filters, ~~with~~for notheir ~~one~~bottles ~~company~~or ~~having~~hydration abackpacks ~~majority~~as ~~share~~opposed ~~and~~to nocomplete ~~industry data available~~products. ~~We believe that our current share of this market is negligible.~~

Seychelle sells its products in two ways. First, it sells its own brand to individuals, dealers, distributors, multilevel marketing companies and missionaries on a direct basis. Second, the Company offers specially designed products to the same customers as a private label supplier if purchasers buy in significant volume. In some instances, we may supply only filters for their bottles or hydration backpacks as opposed to complete products.5

Currently, the majority of our sales are to customers in the U.S. For the year ended February 28, ~~2018~~2019, we had ~~three~~two U.S. based customers that accounted for 5658% of our total sales. For the year ended February 28, ~~2017~~2018, we had three U.S. based customers that accounted for 5356% of our total sales.

Backlog

As of February 28, ~~2018,~~ 2019 and ~~February 28~~2018, ~~2017,~~ we had a backlog of approximately $~~395~~240,000 and $~~465~~395,000, respectively, in unshipped orders.

Employees

As of February 28, ~~2018~~ 2019, we had a President ~~and one (1) executive employee managing the Company~~ with five (5) administrative employees supporting that effort. In assembly, operations and warehousing we had ~~seventeen~~fourteen (1714) full-time employees and one (1) part-time employee.

As of February 28, ~~2017~~2018, we had a President and one (1) executive employee managing the Company with ~~six~~five (65) administrative employees supporting that effort. In assembly, operations and warehousing we had ~~twenty~~seventeen ~~six~~ (2617) full-time employees and one (1) part-time employee working to fill orders.

-Proprietary 5Information -and Technology

~~Proprietary~~We ~~Information~~previously ~~and~~held ~~Technology~~two patents, which have expired. The first patent was for the portable water filtration system with the filter cap assembly, Patent # 5,914,045. The second patent, Patent #6,058,971, was for a quick connect diverter valve.

We ~~previously~~have ~~held~~filed ~~two~~and ~~patents,~~received ~~which~~approval for ~~have~~five ~~expired.~~trademarks with ~~The~~the ~~first~~United ~~patent~~States ~~was~~Patent ~~for~~and ~~the~~Trademark ~~portable~~Office ~~water~~which ~~filtration~~were ~~system~~granted: Seychelle®, ~~with~~which ~~the~~has ~~filter~~been ~~cap~~used ~~assembly,~~in ~~Patent~~commerce ~~# 5~~since 1997,~~914,045.~~ ~~The~~along ~~second~~with ~~patent,~~Pres ~~Patent~~2 #6Pure,~~058,971,~~ ~~was~~Fill ~~for~~2 aPure, ~~quick~~pH20 ~~connect~~Plus ~~diverter~~and ~~valve~~Aq-RO-matic.

We have ~~filed~~a ~~and~~trade ~~received~~name, ~~approval for~~"Seychelle ~~five~~Water ~~trademarks~~Filtration ~~with the United States Patent and Trademark Office which were granted: Seychelle®~~Products, Inc.," which ~~has~~we ~~been~~use ~~used~~ in ~~commerce~~our ~~since~~commercial ~~1997, along with Pres 2 Pure, Fill 2 Pure, pH20 Plus and Aq-RO-matic~~operations.

WeGovernment ~~have a trade name, "Seychelle Water Filtration Products, Inc.," which we use in our commercial operations.~~Regulation

~~Government~~We ~~Regulation~~are not, as a company, subject to any material governmental regulation or approvals. However, our products are subject to inspection and evaluation by regulatory authorities that have jurisdiction over water quality standards. Such authorities are on the federal, state, and local level, both in the United States and overseas, where we market our products. Most of our products have already been inspected and evaluated by all applicable governmental authorities in the areas in which we operate or plan to operate in the near future. With respect to our current focus of operations, we do not know if governmental regulation will have a material impact on us in the future.

WeResearch ~~are not, as a company, subject to any material governmental regulation or approvals. However, our products are subject to inspection~~ and evaluation by regulatory authorities that have jurisdiction over water quality standards. Such authorities are on the federal, state, and local level, both in the United States and overseas, where we market our products. Most of our products have already been inspected and evaluated by all applicable governmental authorities in the areas in which we operate or plan to operate in the near future. With respect to our current focus of operations, we do not know if governmental regulation will have a material impact on us in the future.Development

~~Research~~We did not spend a significant amount for research and ~~Development~~development activities during the fiscal years ended February 28, 2019 and 2018.

WeEnvironmental ~~did not spend a significant amount for research and development activities during the fiscal year ended February 28, 2018.~~ Compliance

~~Environmental~~At ~~Compliance~~the present time, Seychelle is not subject to any material costs for compliance with any environmental laws. With respect to our current focus of operations, we do not know if environmental compliance will have a material impact on us in the future.

At the present time, Seychelle is not subject to any material costs for compliance with any environmental laws. With respect to our current focus of operations, we do not know if environmental compliance will have a material impact on us in the future. 6

-ITEM 61A. -RISK FACTORS

~~ITEM~~THE 1AOWNERSHIP AND INVESTMENT IN OUR SECURITIES INVOLVES SUBSTANTIAL RISKS. ~~RISK~~OUR ~~FACTORS~~COMMON SHARES SHOULD BE PURCHASED ONLY BY PERSONS WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT. PROSPECTIVE INVESTORS SHOULD CAREFULLY CONSIDER THESE RISKS RELATING TO OUR COMPANY.

~~THE~~We ~~OWNERSHIP~~Have ~~AND~~Been ~~INVESTMENT~~Profitable INfor ~~OUR~~Five of ~~SECURITIES~~Our ~~INVOLVES~~Eight ~~SUBSTANTIAL~~Most ~~RISKS.~~Recent ~~OUR~~Fiscal ~~COMMON~~Years. ~~SHARES~~However, ~~SHOULD~~We BECannot ~~PURCHASED~~Guarantee ~~ONLY~~That BYWe ~~PERSONS~~Will ~~WHO~~Continue ~~CAN~~to ~~AFFORD~~Conduct TOProfitable ~~LOSE THEIR ENTIRE INVESTMENT~~Operations. ~~PROSPECTIVE~~We Were ~~INVESTORS~~Not ~~SHOULD~~Profitable ~~CAREFULLY~~for ~~CONSIDER~~Our ~~THESE~~Most ~~RISKS~~Recent ~~RELATING~~Fiscal ~~TO OUR COMPANY~~Year.

We ~~Have~~recorded ~~Been~~a ~~Profitable~~net ~~for~~loss ~~Six~~from ofoperations for ~~Our~~the ~~Eight~~most ~~Most~~recent ~~Recent~~fiscal ~~Fiscal~~year ~~Years.~~ending ~~However~~February 28, We2019. ~~Cannot Guarantee That~~ We ~~Will~~had ~~Continue~~the tofollowing ~~Conduct~~(loss) ~~Profitable Operations. We were profitable~~ income for ~~our~~the ~~most~~years ~~recent fiscal year.~~ending:

We recorded a net loss and negative cash flows from operations for the most recent fiscal year ending February 28, 2017. We had the following (loss) income for the years ending:


	Net (Loss) Income
28-Feb-19	$	(240,127	)
28-Feb-18	$	660,907
28-Feb-17	$	(2,147,224	)
29-Feb-16	$	1,032,941
28-Feb-15	$	(1,405,909	)
28-Feb-14	$	506,797
28-Feb-13	$	635,883
29-Feb-12	$	197,986

	Net Income (Loss)
February 28, 2018	$	660,907
February 28, 2017	$	(2,147,224	)
February 29, 2016	$	1,032,941
February 28, 2015	$	(1,405,909	)
February 28, 2014	$	506,797
February 28, 2013	$	635,883
February 29, 2012	$	197,986
February 28, 2011	$	1,711,790

While we believe that we have had a successful operating history, we cannot guarantee that we will continue to be profitable. If we do not continue to be profitable, we may go out of business, and an investor could lose their entire investment.

~~While~~We weHave ~~believe~~a ~~that~~Significant weDependence on ~~have had~~ a ~~successful~~Few ~~operating history, we cannot guarantee that we will continue to be profitable~~Customers. ~~If we do not continue to be profitable, we may go out of business, and an investor could lose their entire investment.~~

WeDuring the ~~Have~~fiscal ayear ~~Significant~~ended ~~Dependence~~February 28, 2019, the Company had two customers who accounted for approximately 30%, and 28% (or 58%) of total sales. During the fiscal year ended February 28, 2018, the Company had three customers who accounted for approximately 33%, 12% and 11% (or 56%) of total sales. One of those customers accounted for approximately 80% and 33% of net accounts receivable as of February 28, 2019 and 2018, respectively. Management believes that if future revenues from its significant customers decline, those revenues can be replaced through the sales to other customers. However, there can be no assurance that this will occur, which could result in an adverse effect on athe ~~Few~~Company's ~~Customers~~consolidated financial condition or results of operations in the future.

~~During~~The ~~the~~Water ~~fiscal~~Filtration ~~year~~Business ~~ended~~is ~~February~~Subject ~~28,~~to ~~2018,~~Intense ~~the Company had three customer who accounted for approximately 33%, 12%~~ Competition and ~~11%~~Subject ~~(or~~to ~~56%)~~Numerous ~~of total sales during the fiscal year ended February 28, 2018~~Risks. As ofMany ~~February 28, 2017, the Company had three customers who accounted for approximately 36%, 9% and 8% (or 53%)~~ of ~~total~~Our ~~sales~~Competitors ~~during~~Have ~~the~~Substantially ~~fiscal~~Greater ~~year~~Capabilities ~~ended February 28, 2017. One of those customers accounted for approximately 33%~~ and ~~60%~~Resources ~~of net accounts receivable as of February 28, 2018~~ and ~~February~~May ~~28, 2017, respectively. Management believes that if future revenues from its significant customers decline, those revenues can~~ be ~~replaced~~Able ~~through the sales~~ to Develop ~~other~~and ~~customers. However,~~Commercialize ~~there~~Products ~~can~~Before beWe ~~no assurance that this will occur, which could result in an adverse effect on the Company's financial condition or results of operations in the future~~Do.

-The 7water -filtration business is highly competitive with many companies having access to the same market. Technological competition from larger and more established companies is significant and expected to increase. Most of the companies with which we compete and expect to compete have far greater capital resources and significant research and development staffs, marketing and distribution programs and facilities, and many of them have substantially greater experience in the production and marketing of products. Our ability to compete effectively may be adversely affected by the ability of these competitors to devote greater resources to the sale and marketing of their products than we can. In addition, one or more of our competitors may succeed or may already have succeeded in developing technologies and products that are more effective than any of those we currently offer or are developing. In addition, there can be no guarantee that we will be able to protect our technology from being copied or infringed upon. There can be no assurance that we will have the necessary resources to be competitive. Therefore, investors should consider an investment in us to be an extremely risky venture.

~~The~~As ~~Water~~an ~~Filtration~~Organization, ~~Business~~We isare ~~Subject~~Dependent toUpon ~~Intense~~Technology ~~Competition~~for the ~~and~~Development ~~Subject to Numerous Risks. Many~~ of Our ~~Competitors Have Substantially Greater Capabilities and Resources and May be Able to Develop and Commercialize~~ Products ~~Before We Do~~.

~~The~~We ~~water~~are ~~filtration~~operating ~~business~~in isa ~~highly~~business ~~competitive~~that ~~with~~requires ~~many~~continuing companies having access to the same market. Technological competition from larger and more established companies is significant and expected to increase. Most of the companies with which we compete and expect to compete have far greater capital resources and significant research ~~and~~ , development ~~staffs, marketing~~ and ~~distribution~~testing ~~programs and facilities, and many of them have substantially greater experience in the production and marketing of products~~efforts. ~~Our~~There ~~ability to compete effectively may be adversely affected by the ability of these competitors to devote greater resources to the sale and marketing of their products than we~~ can. In addition, one or more of our competitors may succeed or may already have succeeded in developing technologies and products that are more effective than any of those we currently offer or are developing. In addition, there can be no ~~guarantee~~assurance that wenew products will benot ~~able~~render ~~to protect~~ our ~~technology~~products ~~from~~obsolete ~~being copied~~ or ~~infringed upon. There can be no assurance that we will have the necessary resources to be~~ non-competitive. at ~~Therefore,~~some ~~investors~~time ~~should consider an investment~~ in usthe ~~to be an extremely risky venture~~future.

~~As an Organization, We are Dependent Upon Technology for the Development of Our Products.~~7

WeOur ~~are~~Success ~~operating~~as inan aOrganization ~~business~~Depends, ~~that~~in ~~requires~~Large ~~continuing research~~Part, Upon ~~development~~Our ~~and~~Ability ~~testing~~to ~~efforts.~~Protect ~~There~~Our ~~can~~Intellectual beProperty noRights. ~~assurance~~While ~~that~~We ~~new~~Have ~~products~~Several ~~will~~Items ~~not~~of ~~render~~Intellectual ~~our~~Property, ~~products~~Our ~~obsolete~~Two orPatents Have ~~non-competitive at some time in the future~~Expired.

~~Our~~We ~~Success~~hold astrademarks anand ~~Organization~~a ~~Depends~~tradename, but our two patents have expired. We cannot at this time estimate the financial impact of the expiration of these patents to Seychelle. In general, vigorous protection and pursuit of intellectual property rights or positions characterize our industry, which has resulted in ~~Large~~significant and ~~Part~~often protracted and expensive litigation. Therefore, ~~Upon~~our ~~Our~~competitors ~~Ability~~may toassert ~~Protect~~that ~~Our~~our ~~Intellectual~~technologies ~~Property~~or ~~Rights~~products infringe on their patents or proprietary rights. ~~While~~Problems Wewith ~~Have~~patents ~~Several~~or ~~Items~~other rights could increase the cost of ~~Intellectual~~our ~~Property~~products or delay or preclude new product development and commercialization by us. If infringement claims against us are deemed valid, ~~Our~~we ~~Two~~may ~~Patents~~not be ~~Have~~able ~~Expired~~to obtain appropriate licenses on acceptable terms or at all. Litigation could be costly and time-consuming but may be necessary to protect our technology license positions or to defend against infringement claims.

WeOur ~~hold~~Success ~~trademarks~~is ~~and~~Dependent aUpon ~~tradename, but our two patents have expired. We cannot at this time estimate~~ the ~~financial~~Decision ~~impact~~Making of ~~the~~Our Directors ~~expiration of these patents to Seychelle. In general, vigorous protection~~ and ~~pursuit~~Executive ~~of intellectual property rights or positions characterize our industry, which has resulted in significant and often protracted and expensive litigation~~Officers. Therefore, our competitors may assert that our technologies or products infringe on their patents or proprietary rights. Problems with patents or other rights could increase the cost of our products or delay or preclude new product development and commercialization by us. If infringement claims against us are deemed valid, we may not be able to obtain appropriate licenses on acceptable terms or at all. Litigation could be costly and time-consuming but may be necessary to protect our technology license positions or to defend against infringement claims.

Our ~~Success~~directors and executive officers have made a full commitment to our business. The loss of any or all of these individuals could have a materially adverse impact on our operations because we have no succession plan for any of them. We will depend on our senior executive officers as well as other key personnel. If any key employee decides to terminate his employment with us, this termination could delay the commercialization of our products or prevent us from sustaining our profitability. Competition for qualified employees is ~~Dependent~~intense ~~Upon~~among companies in our industry and the ~~Decision~~loss ~~Making~~of qualified employees, or an inability to attract, retain and motivate additional highly skilled employees required for the expansion of ~~Our~~our ~~Directors~~activities, could hinder our ability to successfully develop and ~~Executive~~maintain ~~Officers~~marketable products.

Our ~~directors~~Board ~~and~~of ~~executive~~Directors ~~officers~~and ~~have~~the ~~made~~Majority ~~a full commitment to our business. The loss~~ of ~~any~~the orShares ~~all~~ of ~~these~~the ~~individuals~~Company ~~could~~are ~~have~~Under athe ~~materially~~Complete ~~adverse~~Control ~~impact on our operations because we have no succession plan for any~~ of ~~them~~Mrs. We Cari ~~will depend on our senior executive officers as well as other key personnel. If any key employee decides to terminate his employment with us~~Beck, ~~this termination could delay the commercialization of~~ our ~~products~~CEO ~~or prevent us from sustaining our profitability. Competition for qualified employees is intense among companies in our industry~~ and ~~the loss of qualified employees~~CFO, ~~or an inability to attract, retain~~ and ~~motivate~~her ~~additional highly skilled employees required for the expansion of our activities, could hinder our ability to successfully develop and maintain marketable products~~family.

~~- 8~~The -Board of Directors is completely under the control of Mrs. Cari Beck and her family. The current Board of Directors consists of Mrs. Cari Beck, her husband, Mr. John Beck, and her father, Mr. Carl Palmer. Currently, there are no outside Directors. Although Mr. Carl Palmer was the founder and principal officer of Seychelle for many years, Mrs. Beck is now President, CEO, CFO, Treasurer and HR Manager, as well as the trustee for the TAM Irrevocable Trust, which controls the largest block of common shares of Seychelle. It must be assumed that all final decisions of the Company will ultimately be made solely by Mrs. Beck and this group. The amount of outside input and advice which they will utilize can be expected to be entirely within their sole discretion.

~~Our~~The ~~Board~~Acquisition of ~~Directors~~Other ~~and~~Technologies ~~the~~Could ~~Majority~~Result ofIn Operating ~~the~~Difficulties, ~~Shares~~Dilution ofand ~~the~~Other ~~Company~~Harmful ~~is Under the Complete Control of Mr~~Consequences. ~~Carl Palmer.~~

~~The~~We ~~Board~~may ofselectively ~~Directors~~pursue isstrategic ~~completely~~acquisitions, ~~under~~any ~~the control~~ of which ~~Mr.~~could ~~Carl~~be ~~Palmer.~~material ~~The~~to ~~current~~our ~~Board~~business, ofoperating ~~Directors~~results ~~consists~~and offinancial Mrcondition. Future ~~Palmer,~~acquisitions ~~his~~could ~~daughter,~~divert management's ~~Mrs.~~time ~~Cari~~and ~~Beck,~~focus ~~her~~from ~~husband~~operating ~~and~~our Mrbusiness. In ~~Palmer's son-in-law~~addition, ~~Mr.~~integrating ~~John~~an ~~Beck,~~acquired ~~Gary~~technology ~~Hess~~is risky and may ~~Jenevieve~~result ~~Fisher~~in unforeseen operating difficulties and expenditures.

~~Further,~~The asanticipated abenefits ~~result~~ of ~~his~~future ~~control~~acquisitions, ofif ~~the~~consummated, may ~~majority~~not ofmaterialize. Future ~~the~~acquisitions ~~shares~~or ofdispositions ~~the~~could ~~Company~~result ~~and~~in ~~its~~potentially ~~Board~~dilutive issuances of ~~Directors~~our equity securities, itincluding ~~must~~our becommon ~~assumed~~stock, ~~that~~the ~~all~~incurrence ~~final decisions~~ of ~~the~~debt, ~~Company~~contingent ~~will~~liabilities, ~~ultimately~~or bewrite-offs ~~made~~of ~~solely~~intellectual byproperties any ~~Mr. Palmer. The amount~~ of ~~outside~~which ~~input~~could ~~and~~harm ~~advice~~our ~~which~~financial Mrcondition. Future ~~Palmer~~acquisitions ~~will~~may ~~utilize,~~also ~~including~~require ~~that~~us ~~from~~to ~~the~~obtain ~~two~~additional ~~independent directors~~financing, which ~~can~~may not be ~~expected~~available toon befavorable ~~entirely~~terms ~~within~~or ~~his~~at ~~sole discretion~~all.

~~The~~We ~~Acquisition~~Face ofRisks ~~Other~~Associated ~~Technologies~~With ~~Could~~Currency ~~Result~~Exchange InRate ~~Operating Difficulties, Dilution and Other Harmful Consequences~~Fluctuations.

WeAlthough ~~may~~we ~~selectively~~currently ~~pursue~~transact ~~strategic~~business ~~acquisitions~~primarily in U.S. dollars, ~~any~~a large portion of ~~which~~our ~~could~~revenues and related cost of goods sold may be ~~material~~determined in foreign currencies if we continue to expand our international operations. Conducting business, ~~operating~~in ~~results~~currencies ~~and~~other ~~financial~~than ~~condition~~U. ~~Future~~S. ~~acquisitions~~dollars ~~could~~subjects ~~divert~~the ~~management's~~Company to ~~time~~fluctuations ~~and~~in ~~focus~~currency ~~from~~exchange ~~operating~~rates that could have a negative impact on our ~~business~~reported operating results. InFluctuations in ~~addition,~~the ~~integrating~~value anof ~~acquired~~the ~~technology~~U.S. isdollar ~~risky~~relative ~~and~~to other currencies may impact our revenue, cost of goods sold and operating gross margin, and result in ~~unforeseen~~foreign ~~operating~~currency ~~difficulties~~translation gains and ~~expenditures~~losses. Historically, we have not engaged in exchange rate hedging activities.

~~The~~Changes ~~anticipated~~to ~~benefits~~Financial ofAccounting ~~future acquisitions, if consummated, may not materialize. Future acquisitions~~ or ~~dispositions~~Other ~~could~~Standards ~~result~~May Affect inOur ~~potentially~~Operating ~~dilutive~~Results ~~issuances~~and ofCause ~~our~~Us ~~equity~~To ~~securities,~~Change ~~including~~Our ~~our~~Business ~~common stock, the incurrence of debt, contingent liabilities, or write-offs of intellectual properties any of which could harm our financial condition~~Practices. ~~Future acquisitions may also require us to obtain additional financing, which may not be available on favorable terms or at all.~~

We ~~Face~~prepare ~~Risks~~our ~~Associated~~consolidated ~~With~~financial ~~Currency~~statements in accordance with generally accepted accounting principles, or GAAP, in the United States. These accounting principles are issued by the Financial Accounting Standards Board (FASB). The Securities and Exchange ~~Rate~~Commission ~~Fluctuations~~also provides interpretation, guidance and principles in the preparation of financial statements. A change in those policies could have a significant effect on our reported results and may affect our reporting of transactions completed before a change is announced.

Although we currently transact business primarily in U.S. dollars, a large portion of our revenues and related cost of goods sold may be determined in foreign currencies if we continue to expand our international operations. Conducting business in currencies other than U.S. dollars subjects the Company to fluctuations in currency exchange rates that could have a negative impact on our reported operating results. Fluctuations in the value of the U.S. dollar relative to other currencies may impact our revenue, cost of goods sold and operating gross margin, and result in foreign currency translation gains and losses. Historically, we have not engaged in exchange rate hedging activities.8

~~Changes~~If toWe ~~Financial~~Fail ~~Accounting~~in orMaintaining ~~Other~~Effective ~~Standards~~Internal ~~May~~Control ~~Affect~~Over Financial ~~Our~~Reporting, ~~Operating~~The ~~Results~~Price ~~and~~of ~~Cause~~Our UsCommon ToStock ~~Change~~May ~~Our~~be ~~Business~~Adversely ~~Practices~~Affected.

We ~~prepare~~are ~~our~~required ~~consolidated~~to ~~financial~~establish ~~statements~~and inmaintain appropriate ~~accordance~~internal ~~with~~control ~~generally~~over ~~accepted~~financial ~~accounting~~reporting. Failure ~~principles~~to establish those controls, or ~~GAAP,~~any infailure ~~the~~of ~~United~~those controls ~~States. These~~once ~~accounting~~established, ~~principles~~could ~~are~~adversely ~~issued~~impact byour ~~the~~public ~~Financial~~disclosure ~~Accounting~~regarding ~~Standards~~our ~~Board~~business, ~~(FASB)~~financial condition or results of operations. ~~The~~In ~~Securities~~addition, ~~and~~our ~~Exchange~~future ~~Commission~~assessments ~~also~~of ~~provides~~internal ~~interpretation,~~control ~~guidance~~over financial reporting may identify additional weaknesses and ~~principles~~conditions that need to be addressed in ~~the~~our ~~preparation~~internal ofcontrol over financial ~~statements~~reporting or other matters that may raise concerns for investors. AAny ~~change~~material weaknesses that needs to be addressed in ~~those~~management's ~~policies~~assessment ~~could~~of ~~have~~our internal acontrol ~~significant~~over ~~effect~~financial reporting or in the report on the effectiveness of our ~~reported~~internal ~~results~~controls by our independent registered public accounting firm, when, and ~~may~~ ~~affect~~if, ~~our~~applicable, ~~reporting~~may ofhave ~~transactions~~an ~~completed~~adverse ~~before~~impact aof ~~change~~our iscommon ~~announced~~stock.

-The 9Company -has identified material weaknesses in its internal control over financial reporting.

IfThe WeCompany ~~Fail~~has identified material weaknesses in ~~Maintaining~~its ~~Effective~~internal control ~~Internal~~over ~~Control~~financial ~~Over~~reporting. ~~Financial~~The ~~Reporting~~Company’s internal control over financial reporting has been designed to provide management and the Board of Directors with reasonable assurance regarding the preparation and fair presentation of the Company’s consolidated financial statements. As a small company, ~~The~~we ~~Price~~are not able to segregate duties to the extent we could if we had more people, and we have not sufficiently designed controls that support an effective assessment of ~~Our~~our ~~Common~~internal ~~Stock~~controls ~~May~~relating beto ~~Adversely~~the ~~Affected~~prevention of fraud and possible management override of controls. Further, the Company does not have an internal audit department, and has not engaged an outside firm to complete the documentation of its internal control assessment to the level required by the applicable criteria.

We ~~are~~believe ~~required~~that toour ~~establish~~overall ~~and maintain appropriate~~ internal control ~~over~~environment is ~~financial~~sufficient ~~reporting. Failure~~for toa ~~establish~~company ~~those~~of ~~controls,~~our orsize. ~~any~~However, ~~failure~~the existence of ~~those~~material ~~controls~~weaknesses ~~once~~means ~~established,~~that ~~could~~there ~~adversely~~is ~~impact~~a ~~our~~reasonable ~~public~~possibility that ~~disclosure~~a ~~regarding~~material ~~our~~misstatement ~~business,~~of our financial ~~condition~~statements orwill ~~results~~not ofbe ~~operations. In~~prevented ~~addition,~~or ~~our~~detected ~~future~~on ~~assessments~~a oftimely ~~internal~~basis. ~~control~~If ~~over~~we ~~financial~~are ~~reporting~~not ~~may~~able to ~~identify~~correct ~~additional~~material weaknesses ~~and~~or ~~conditions~~deficiencies ~~that~~in ~~need~~internal tocontrols bein ~~addressed~~a intimely way, our ~~internal~~ability ~~control~~to ~~over~~record, process, summarize and report financial ~~reporting~~information oraccurately ~~other~~and ~~matters~~within ~~that~~the ~~may~~time ~~raise~~periods ~~concerns~~specified ~~for~~in ~~investors. Any~~the ~~material~~SEC’s ~~weaknesses~~rules ~~that~~and ~~needs~~forms towill be ~~addressed~~adversely affected. inSuch ~~management's~~a ~~assessment~~result could negatively impact the market price and trading liquidity of our ~~internal~~stock, ~~control~~weaken ~~over~~investor confidence in our reported financial ~~reporting~~information, orsubject inus ~~the~~to ~~report~~civil onand ~~the~~criminal ~~effectiveness~~investigations ofand ~~our~~penalties, ~~internal~~and ~~controls~~generally bymaterially and adversely affect our ~~independent~~business ~~registered~~and ~~public~~financial ~~accounting~~condition. ~~firm~~For more information regarding the material weaknesses, ~~when~~the mitigating controls we use, and ~~if,~~certain ~~applicable,~~remedial ~~may~~steps we have antaken ~~adverse~~or ~~impact~~considered, ofplease ~~our~~see ~~common~~Part ~~stock~~II. Item 9A Controls and Procedures.

If We ~~Fail~~May tobe ~~Comply~~Impacted ~~with~~By ~~Section 404 of~~ the ~~Sarbanes-Oxley~~Implementation ~~Act~~ of ~~2002 in~~Regulatory Requirements as a ~~Timely~~Result ~~Manner,~~of ~~Our~~the ~~Business~~Passage ~~Could~~of Bethe ~~Harmed~~Dodd-Frank ~~and Our Stock Price Could Decline~~Act.

~~Rules~~In ~~adopted~~July, by2010, ~~the~~Congress ~~SEC~~enacted ~~pursuant to Section 404 of~~ the ~~Sarbanes~~Dodd-~~Oxley~~Frank Act, ofwhich instituted ~~2002~~major ~~require~~changes ~~management's~~in ~~annual~~the ~~assessment~~regulatory ofregime ~~our~~for ~~internal~~public ~~control over financial reporting~~companies. ~~The~~ ~~standards~~At ~~that~~the ~~must~~present betime, ~~met~~we ~~for~~do ~~the~~not ~~management~~believe tothat ~~assess~~Seychelle ~~the~~will be ~~internal~~impacted ~~control~~in ~~over~~a ~~financial~~material ~~reporting~~way asby ~~effective~~this ~~are~~legislation. ~~complex~~However, ~~and~~the ~~require~~implementation ~~significant~~of ~~documentation,~~the ~~testing,~~provisions ~~and~~of ~~possible~~the ~~remediation~~Dodd-Frank toAct ~~meet~~is ~~the~~subject to ~~detailed~~regulations ~~standards. We~~which have ~~incurred~~not ~~significant~~yet ~~expenses~~been written and weits ~~devote~~statutory ~~resources~~provisions tohave ~~Section~~not ~~404~~been ~~compliance on an ongoing basis. In~~ the ~~event~~subject ~~that~~of ~~our~~extensive ~~Chief~~judicial ~~Executive~~review, so ~~Officer/Chief~~we ~~Financial~~cannot ~~Officer~~guarantee ~~determine~~ that ~~our~~we ~~internal~~may ~~control over financial reporting is~~ not ~~effective~~come ~~as defined~~ under ~~Section~~its ~~404,~~purview weat ~~cannot~~some ~~predict~~point ~~how~~in ~~regulators will react on how~~ the ~~market~~future ~~prices~~and ~~of our shares will~~ be affected, ~~however, we believe that there is a risk that investor confidence and share value may be~~ negatively ~~impacted~~by it.

~~Maintaining and Improving~~ Our ~~Financial~~Articles ~~Controls~~of Incorporation and ~~The~~Bylaws ~~Requirements~~Could OfDiscourage Acquisition ~~Being~~Proposals, Delay a ~~Public~~Change ~~Company~~in ~~May Strain Our Resources~~Control, ~~Divert~~or ~~Management's~~Prevent ~~Attention,~~Other ~~and Affect Our Ability to Attract and Retain Qualified Members For Our Board of Directors~~Transactions.

AsProvisions aof ~~public~~our ~~company,~~articles weof ~~are~~incorporation ~~subject~~and tobylaws, ~~the~~as well ~~reporting~~as ~~requirements~~provisions of the ~~Securities~~Nevada ~~Exchange~~Business Corporation Act, ofmay ~~1934~~discourage, ~~and~~delay ~~the~~or ~~Sarbanes-Oxley~~prevent ~~Act~~a ofchange ~~2002. The~~in ~~requirements~~control of ~~these rules and regulations increase~~ our ~~legal,~~Company that ~~accounting,~~you ~~and~~as ~~financial~~a ~~compliance~~stockholder ~~costs,~~may ~~make~~consider ~~some~~favorable ~~activities more difficult, time-consuming~~ and ~~costly, and~~ may ~~also~~be ~~place~~in ~~undue~~your ~~strain~~best ~~on our personnel, systems, and resources~~interest. ~~The~~ ~~Sarbanes-Oxley~~Our ~~Act~~certificate of ~~2002~~incorporation ~~requires, among other things, that we maintain effective disclosure controls~~ and ~~procedures~~bylaws contain ~~and~~provisions ~~internal controls over financial reporting. Fulfilling this requirement can be difficult to achieve and maintain.~~that:

As• aAuthorize ~~result,~~the ~~management's~~issuance ~~attention~~of ~~may~~"blank check" preferred stock that could be ~~diverted~~issued ~~from~~by ~~other~~our ~~business~~Board ~~concerns,~~of ~~which~~Directors ~~could~~to ~~harm~~increase ~~our~~the ~~business,~~number ~~operating~~of ~~results~~outstanding shares and ~~financial~~discourage ~~condition. These~~a ~~efforts~~takeover ~~also~~attempt; ~~involve~~• ~~substantial~~Limit ~~costs~~who may call special meetings of stockholders.

~~We May be Impacted By the Implementation of Regulatory Requirements as a Result of the Passage of the Dodd-Frank Act.~~9

InOur ~~July,~~Stock ~~2010,~~Price ~~Congress~~Can ~~enacted~~Be ~~the Dodd-Frank Act, which instituted major changes in the regulatory regime for public companies~~Volatile. At the present time, we do not believe that Seychelle will be impacted in a material way by this legislation. However, the implementation of the provisions of the Dodd-Frank Act is subject to regulations which have not yet been written and its statutory provisions have not been the subject of extensive judicial review, so we cannot guarantee that we may not come under its purview at some point in the future and be affected negatively by it.

-The 10future -market price of our common stock could fluctuate widely because of:

~~Our~~• ~~Articles~~future ofannouncements ~~Incorporation~~about ~~and~~our ~~Bylaws~~Company ~~Could~~or ~~Discourage~~our ~~Acquisition~~competitors, ~~Proposals~~including the results of testing, ~~Delay~~technological ainnovations ~~Change~~or new commercial products; • negative regulatory actions with respect to our potential products or regulatory approvals with respect to our competitors' products; • changes in ~~Control~~government regulations; • developments in our relationships with our partners including customers, vendors and distributors; • developments affecting our partners; including customers, vendors and distributors; • our failure to acquire or ~~Prevent~~maintain ~~Other~~proprietary ~~Transactions~~rights to the products we develop; • litigation; and • public concern as to the safety of our products.

~~Provisions~~The ofstock ~~our~~market ~~articles~~has ofexperienced ~~incorporation~~price and ~~bylaws,~~volume asfluctuations that ~~well~~have asparticularly ~~provisions~~affected of the ~~Nevada~~market ~~Business~~price ~~Corporation~~for ~~Act,~~many ~~may~~emerging ~~discourage,~~companies. ~~delay~~These orfluctuations ~~prevent~~have aoften ~~change~~been inunrelated ~~control~~to ofthe operating ~~our~~performance ~~Company~~of ~~that~~these ~~you~~companies. asThese abroad ~~stockholder~~market fluctuations may ~~consider~~cause ~~favorable~~the ~~and~~market ~~may~~price beof inour ~~your~~common ~~best~~stock ~~interest.~~to ~~Our~~be lower ~~certificate~~or ofmore ~~incorporation~~volatile ~~and~~than ~~bylaws~~otherwise ~~contain provisions that:~~expected.

•Buying ~~authorize~~Penny ~~the~~Stocks ~~issuance~~is ofVery ~~"blank~~Risky ~~check"~~and ~~preferred~~Speculative. The Applicability ~~stock~~of ~~that~~the ~~could~~"Penny beStock ~~issued~~Rules" ~~by our Board of Directors~~ to ~~increase~~Broker-dealer ~~the~~Sales ~~number~~ of ~~outstanding~~Our ~~shares~~Common ~~and~~Stock ~~discourage~~Will Have a ~~takeover~~Negative ~~attempt;~~Effect •on ~~Limit~~the Liquidity ~~who~~and ~~may~~Market ~~call~~Price ~~special~~of ~~meetings~~Our ofCommon ~~stockholders~~Stock.

~~Our~~Trading ~~Stock~~in ~~Price~~our ~~Can~~shares Beis ~~Volatile~~subject to the "penny stock rules" adopted pursuant to Rule 15g-9 of the Securities and Exchange Act of 1934, as amended, which apply to companies that are not listed on an exchange and whose common stock trades at less than $5.00 per share or which have a tangible net worth of less than $5,000,000 or $2,000,000 if we have been operating for three or more years. The penny stock rules impose additional sales practice requirements on broker-dealers which sell such securities to persons other than established customers and institutional accredited investors. For transactions covered by this rule, a broker-dealer must make a special suitability determination for the purchaser and have received the purchaser's written consent to the transaction prior to sale. Consequently, the penny stock rules will affect the ability of broker-dealers to sell shares of our common stock and may affect the ability of shareholders to sell their shares in the secondary market, as compliance with such rules may delay and/or preclude certain trading transactions. The rules could also have an adverse effect on the market price of our common stock.

~~The~~These ~~future~~disclosure ~~market~~requirements ~~price~~may have the effect of reducing the level of trading activity in the secondary market for our common stock. ~~could~~Many ~~fluctuate~~brokers ~~widely~~may be unwilling to engage in transactions in our common stock because of: the added disclosure requirements, thereby making it more difficult for stockholders to dispose of their shares. You will also find it difficult to obtain accurate information about, and/or quotations as to the price of our common stock.

•We ~~future~~have ~~announcements~~added ~~about~~a ~~our~~stock ~~Company~~broker ~~or our competitors, including the results of testing, technological innovations or new commercial products; • negative regulatory actions with respect~~ to ~~our~~create ~~potential products~~ or ~~regulatory~~maintain ~~approvals~~a ~~with respect to our competitors' products; • changes~~ market in ~~government regulations; • developments in~~ our ~~relationships~~common ~~with our partners including customers~~stock, ~~vendors~~which ~~and~~could ~~distributors;~~favorably •impact ~~developments affecting our partners; including customers, vendors and distributors; • our failure to acquire or maintain proprietary rights to~~ the ~~products~~price ~~we develop; • litigation;~~ and •liquidity ~~public concern as to the safety~~ of our ~~products~~securities.

~~The~~We ~~stock~~Do ~~market~~Not ~~has~~Expect ~~experienced price and volume fluctuations that have particularly affected the market price for many emerging companies. These fluctuations have often been unrelated~~ to ~~the~~Pay ~~operating~~Dividends ~~performance~~on ofOur ~~these~~Common ~~companies~~Stock. ~~These broad market fluctuations may cause the market price of our common stock to be lower or more volatile than otherwise expected.~~

~~Buying~~We ~~Penny~~have ~~Stocks~~not ispaid ~~Very~~any ~~Risky~~cash ~~and~~dividends ~~Speculative. The~~with ~~Applicability~~respect ofto ~~the~~our common ~~"Penny~~stock, ~~Stock~~and ~~Rules"~~it tois ~~Broker-dealer~~unlikely ~~Sales~~that ofwe ~~Our~~will ~~Common~~pay ~~Stock~~any ~~Will~~dividends ~~Have~~on aour ~~Negative~~common ~~Effect~~stock onin the ~~Liquidity~~foreseeable ~~and~~future, ~~Market~~as ~~Price~~we ofare ~~Our~~a ~~Common Stock~~growth company.

~~Trading~~Our inresults ~~our~~could ~~shares~~be isimpacted ~~subject~~by tochanges ~~the~~in ~~"penny~~trade stock rules" adopted pursuant to Rule 15g-9 of the Securities and Exchange Act of 1934, as amended, which apply to companies that are not listed on an exchange and whose common stock trades at less than $5.00 per share agreements or ~~which~~treaties have a tangible net worth of less than $5,000,000 or $2,000,000 if we have been operating for three or more years. The penny stock rules impose additional sales practice requirements on broker-dealers which sell such securities to persons other than established customers and ~~institutional accredited investors. For transactions covered by this rule, a broker-dealer must make a special suitability determination for~~ the ~~purchaser~~imposition ~~and have received the purchaser's written consent to the transaction prior to sale. Consequently, the penny stock rules will affect the ability~~ of ~~broker-dealers~~tariffs toon ~~sell shares of~~ our ~~common~~goods ~~stock~~exported ~~and may affect the ability of shareholders~~ to ~~sell~~other ~~their shares in the secondary market, as compliance with such rules may delay and/or preclude certain trading transactions~~countries. ~~The rules could also have an adverse effect on the market price of our common stock.~~

-The 11Trump -administration has indicated its intent to alter the U.S. government’s international trade policies and in some cases to renegotiate or terminate existing trade agreements and treaties with various foreign countries, including the North America Free Trade Agreement. In addition, certain foreign countries, including the People’s Republic of China, have imposed or are considering imposing tariffs on various U.S. goods exported to those countries. It is currently unclear what will happen regarding these trade agreements, treaties and tariffs in the long term, but an escalating trade war or other governmental action with respect to any of them could adversely impact foreign demand for our products or our operating cost.

These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for our common stock. Many brokers may be unwilling to engage in transactions in our common stock because of the added disclosure requirements, thereby making it more difficult for stockholders to dispose of their shares. You will also find it difficult to obtain accurate information about, and/or quotations as to the price of our common stock.10

WeITEM ~~have~~1B. ~~added~~UNRESOLVED aSTAFF ~~stock broker to create or maintain a market in our common stock, which could favorably impact the price and liquidity of our securities.~~COMMENTS

WeA Dosmaller ~~Not~~reporting ~~Expect~~company tois ~~Pay~~not ~~Dividends~~required onto ~~Our~~provide ~~Common~~the information ~~Stock~~in this Item.

WeITEM ~~have not paid any cash dividends with respect to our common stock, and it is unlikely that we will pay any dividends on our common stock in the foreseeable future, as we are a growth company~~2. PROPERTIES

~~ITEM~~The 1BCompany has a lease agreement for its corporate offices, inventory and production facility at 22 Journey in Aliso Viejo, Ca. The ~~UNRESOLVED~~lease ~~STAFF~~has ~~COMMENTS~~a term of 5 years at a monthly rental of approximately $26,000.

AWe ~~smaller~~hold ~~reporting~~trademarks ~~company~~and isa ~~not~~tradename, we ~~required~~previously toheld ~~provide~~two ~~the~~patents ~~information~~which inare ~~this~~now ~~Item~~expired. We currently hold no patents.

ITEM 23. ~~PROPERTIES~~LEGAL PROCEEDINGS

The Company ~~has~~may abe, ~~lease~~from ~~agreement~~time ~~for~~to ~~its corporate offices~~time, involved ~~inventory~~in ~~and~~legal ~~production~~proceedings ~~facility~~in atthe 22normal ~~Journey~~course inof ~~Aliso Viejo, Ca~~business. The ~~lease~~Company ~~has~~is ainvolved ~~term~~in ofthe 5following ~~years~~legal atproceedings as aof ~~monthly~~February ~~rental~~28, of2019, ~~approximately~~which ~~$20,000.~~would be deemed material:

WeThere ~~hold~~is ~~trademarks~~a pending legal action named Rolling Tides, LLC vs. Carl Palmer, Seychelle Environmental Technologies, Inc., and aother ~~tradename~~defendants. The case was brought in the Superior Court of the State of California, weCounty ~~previously~~of ~~held~~Orange. The ~~two~~action ~~patents~~alleges ~~which~~certain fraudulent transfers occurred from Seychelle to the various defendants. The plaintiffs have refused to identify any such transfers by date or amount. The matter is in discovery and trial is set for August 2019. All the defendants have denied the allegations of the complaint and are ~~now~~vigorously ~~expired~~defending the matter. It Weis ~~currently~~not ~~hold~~likely that the case will be settled without trial. The Company believes that the case has no ~~patents~~merit.

ITEM 34. ~~LEGAL~~MINE ~~PROCEEDINGS~~SAFETY DISCLOSURES

~~The~~Not ~~Company may be, from time to time, involved in legal proceedings in the normal course of business~~applicable. ~~The Company is involved in the following legal proceedings as of February 28, 2018 which would be deemed material:~~

OnPART March 27, 2017, the Company received a Notice of Filing of Discrimination complaint in the Superior Court of the State of California, County of Orange by a former employee. The Company also received on June 5, 2017, a Request for Entry of Default filed to Superior Court of California, County of Orange by the same employee. The matter is currently set for trial on June 25, 2018. The case is in the discovery phase. The Company believes that the complaint is completely without merit and plan to vigorously contest the matter.II

~~ITEM~~Principal 4.Market ~~MINE~~or ~~SAFETY DISCLOSURES~~Markets

~~Not~~Our ~~applicable~~Common Stock began trading in 1997 on the OTC Bulletin Board (OTCBB). Since the consummation of trading our common stock, market makers and other dealers have provided bid and ask quotations of our Common Stock under the symbol "SYEV." We were de-listed from the OTCBB in 2002 and were traded on the "Pink Sheets" from December 2002 to March 11, 2008, when we were re-listed on the OTCBB. The table below represents the range of high and low bid quotations of our common stock as reported during the reporting period herein. The following bid price market quotations represent prices between dealers and do not include retail markup, markdown, or commissions; hence, they may not represent factual transactions. As of May 28, 2019, the common stock had a closing bid price of $0.07 per share.

- 12 -

Fiscal Year 2019	High Bid			Low Bid

Quarter Ended:

First Quarter May 2018		$	0.20		$	0.19

Second Quarter August 2018		$	0.16		$	0.16

Third Quarter November 2018		$	0.13		$	0.13

Fourth Quarter February 2019		$	0.09		$	0.09

~~PART II~~11

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Fiscal Year 2018	High Bid			Low Bid

Quarter Ended:

First Quarter May 2017		$	0.15		$	0.15

Second Quarter August 2017		$	0.19		$	0.19

Third Quarter November 2017		$	0.17		$	0.10

Fourth Quarter February 2018		$	0.27		$	0.26

~~Principal~~Approximate ~~Market~~Number orof ~~Markets~~Holders of Common Stock

~~Our~~As ~~Common Stock began trading in 1997 on the OTC Bulletin Board ("OTCBB"). Since the consummation~~ of ~~trading~~February ~~our~~28, ~~common stock~~2019, ~~market~~there ~~makers and other dealers have provided bid and ask quotations of our Common Stock under the symbol "SYEV." We~~ were ~~de-listed~~approximately ~~from~~353 ~~the OTCBB in 2002 and were traded~~ shareholders on ~~the~~record ~~"Pink Sheets" from December 2002 to March 11, 2008, when we were re-listed on the OTCBB. The table below represents the range~~ of ~~high and low bid quotations of~~ our common stock ~~as reported during the reporting period herein~~. The following bid price market quotations represent prices between dealers and do not include retail markup, markdown, or commissions; hence, they may not represent factual transactions. As of June 6, 2018, the common stock had a closing bid price of $0.2201 per share.

Fiscal Year 2018	High Bid			Low Bid
Quarter Ended:
First Quarter May 2017		$	0.15		$	0.15
Second Quarter August 2017		$	0.19		$	0.19
Third Quarter November 2017		$	0.17		$	0.10
Fourth Quarter February 2018		$	0.27		$	0.26

Dividends

Fiscal Year 2017	High Bid			Low Bid
Quarter Ended:
First Quarter May 2016		$	0.53		$	0.51
Second Quarter August 2016		$	0.20		$	0.20
Third Quarter November 2016		$	0.24		$	0.24
Fourth Quarter February 2017		$	0.17		$	0.17

Holders of our common stock are entitled to receive such dividends as may be declared by our Board of Directors. We paid no dividends on our common stock during the periods reported herein nor do we anticipate paying such dividends in the foreseeable future.

~~Approximate~~ITEM ~~Number~~6. ofSELECTED ~~Holders~~FINANCIAL ~~of Common Stock~~DATA

AsA ofsmaller ~~February~~reporting ~~28,~~company ~~2018,~~is ~~there~~not ~~were~~required ~~approximately~~to ~~354~~provide ~~shareholders~~the information onin ~~record~~this ~~of our common stock~~Item.

~~Dividends~~ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

~~Holders~~This ofdiscussion ~~our~~summarizes ~~common~~the ~~stock~~significant ~~are~~factors ~~entitled~~affecting tothe ~~receive~~operating ~~such~~results, ~~dividends~~financial condition, liquidity and cash flows of the Company and its subsidiaries as ~~may~~of and for the fiscal years ended February 28, 2019 and February 28, 2018. The discussion and analysis that follows should be ~~declared~~read bytogether ~~our~~with ~~Board~~the consolidated financial statements of ~~Directors~~Seychelle Environmental Technologies, Inc. Weand ~~paid~~the nonotes ~~dividends~~to the consolidated financial statements included elsewhere in this annual report on ~~our~~Form ~~common~~10-K. Except ~~stock~~for ~~during~~historical information, the ~~periods~~matters ~~reported~~discussed ~~herein~~in ~~nor~~this dosection weare ~~anticipate~~forward looking ~~paying~~statements ~~such~~that ~~dividends~~involve inrisks and uncertainties and are based upon judgments concerning various factors that are beyond the ~~foreseeable~~Company's ~~future~~control.

-Application 13of -Critical Accounting Policies and Estimates

~~ITEM~~Our 6consolidated financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States of America. Preparing ~~SELECTED~~financial ~~FINANCIAL~~statements ~~DATA~~requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates and assumptions are affected by management's application of accounting policies.

ACritical ~~smaller~~accounting ~~reporting~~policies ~~company~~for isus ~~not~~include our ~~required~~accounting for toinventory ~~provide~~reserves, allowance for doubtful accounts receivable and sales returns reserves and determination of the ~~information~~valuation allowance infor ~~this~~deferred ~~Item~~tax assets.

~~ITEM~~Inventory ~~7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~Reserves

~~This~~At ~~discussion~~each ~~summarizes~~balance ~~the~~sheet ~~significant~~date, ~~factors~~the ~~affecting~~Company evaluates ~~the~~its ~~operating~~ending ~~results,~~inventory ~~financial~~for ~~condition,~~excess ~~liquidity~~quantities and ~~cash~~obsolescence. This ~~flows~~evaluation ofincludes ~~the~~an ~~Company~~analysis ~~and~~of ~~its~~sales levels ~~subsidiaries~~by asproduct oftype. Among ~~and~~other ~~for~~factors, the ~~fiscal~~Company ~~years~~considers ~~ended~~current ~~February~~product 28configurations, ~~2018~~historical and ~~February 28~~forecasted demand, ~~2017. The~~market ~~discussion~~conditions and ~~analysis~~product ~~that~~life ~~follows~~cycles ~~should~~when bedetermining ~~read~~the ~~together~~market ~~with~~value of the ~~consolidated~~inventory. This ~~financial~~requires significant ~~statements~~judgments including estimation of ~~Seychelle~~future ~~Environmental~~cash ~~Technologies~~flows, ~~Inc.~~which ~~and~~is ~~the~~dependent ~~notes~~on tointernal forecasts, estimation of the ~~consolidated~~long-term rate ~~financial~~of ~~statements~~growth ~~included~~for ~~elsewhere~~our inbusiness, ~~this~~and ~~annual~~the ~~report~~period onover ~~Form~~which ~~10-K. Except~~cash ~~for~~flows ~~historical~~will ~~information,~~occur. ~~the~~Provisions ~~matters~~are ~~discussed~~made into ~~this~~reduce ~~section~~excess ~~are~~or ~~forward~~obsolete inventories ~~looking~~to ~~statements~~their ~~that~~estimated ~~involve~~net ~~risks~~realizable ~~and~~values. Once ~~uncertainties~~established, ~~and~~write-downs are ~~based~~considered ~~upon~~permanent ~~judgments~~adjustments to ~~concerning~~the ~~various~~cost ~~factors~~basis ~~that~~of ~~are~~the ~~beyond~~excess ~~the~~or ~~Company's~~obsolete ~~control~~inventory.

~~Application of Critical Accounting Policies and Estimates~~12

~~Our~~Allowance ~~consolidated~~for ~~financial~~Doubtful statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates and assumptions are affected by management's application of accounting policies.Accounts

~~Critical~~The ~~accounting~~Company ~~policies~~analyzes its ~~for~~current usaccount ~~include our~~receivable ~~accounting~~portfolio ~~for~~in ~~inventory~~accordance ~~reserves~~with FASB Accounting Standards Codification (ASC) Topic 606, ~~allowance~~Revenue From Contracts with Customers. Estimates for ~~doubtful~~potential uncollectible accounts ~~and~~receivable ~~sales~~is ~~returns~~based ~~reserves~~on a variety of factors, the ~~share~~age ~~based~~of the receivable, historical payment ~~arrangements~~patterns, and ~~determination~~actual return experience of ~~the~~specific ~~valuation~~products or similar products. The Company also reviews its estimates for product returns based on expected return data communicated to us by customers and historical experience. Management is able to make reasonable and reliable estimates of its allowance for ~~deferred~~doubtful ~~tax~~accounts ~~assets~~and product returns based on our history in this business.

~~Inventory~~Income ~~Reserves~~Taxes

AtDeferred ~~each~~income ~~balance~~tax ~~sheet~~assets ~~date,~~and ~~the~~liabilities are ~~Company~~recognized ~~evaluates~~for ~~its~~the ~~ending~~estimated ~~inventory~~future ~~for~~tax ~~excess~~consequences ~~quantities~~attributable ~~and~~to ~~obsolescence. This~~differences ~~evaluation~~between ~~includes~~the anfinancial ~~analysis~~statement carrying amounts of ~~sales~~existing ~~levels~~assets byand ~~product~~liabilities ~~type. Among~~and ~~other~~their ~~factors,~~respective ~~the~~tax ~~Company~~bases. ~~considers~~Deferred ~~current~~income ~~product~~tax ~~configurations,~~assets ~~historical~~ and ~~forecasted~~liabilities ~~demand,~~are ~~market~~measured ~~conditions~~using enacted ~~and~~tax ~~product~~rates ~~life~~expected ~~cycles~~to ~~when~~apply ~~determining~~to ~~the~~taxable ~~market~~income ~~value~~in of the ~~inventory. This~~years ~~requires~~in ~~significant~~which ~~judgments~~those ~~including~~temporary ~~estimation~~differences ofare ~~future~~expected ~~cash~~to ~~flows,~~be ~~which~~recovered or issettled. ~~dependent~~Valuation onallowances ~~internal~~are ~~forecasts,~~established ~~estimation~~when ofnecessary ~~the~~to ~~long-term~~reduce ~~rate~~deferred ofincome ~~growth~~tax ~~for~~assets ~~our~~to ~~business,~~the ~~and~~amounts ~~the~~expected ~~period~~to be ~~over~~realized. ~~which~~The ~~cash~~Company ~~flows~~recognizes ~~will~~the ~~occur.~~tax ~~Provisions~~benefit ~~are~~from ~~made~~uncertain totax ~~reduce~~positions ~~excess~~only orif ~~obsolete~~it ~~inventories~~is tomore ~~their~~likely ~~estimated~~than ~~net~~not ~~realizable~~that ~~values. Once~~the ~~established,~~tax positions ~~write-downs~~will ~~are~~be ~~considered~~sustained ~~permanent~~on ~~adjustments~~examinations toby the ~~cost~~tax ~~basis~~authorities, ofbased on the ~~excess~~technical ormerits ~~obsolete~~of ~~inventory~~the position.

~~Allowance~~Recent ~~for~~Accounting ~~Doubtful Accounts and Sales Returns Reserves~~Pronouncements

~~The~~In ~~Company~~May ~~analyzes~~2014, ~~its~~the ~~current~~Financial ~~accounts~~Accounting ~~receivable~~Standards ~~portfolio~~Board ~~and~~("FASB") ~~sales~~issued ~~returns~~Accounting inStandards ~~accordance~~Updated ("ASU") 2014-09, Revenue from Contracts with ~~FASB~~Customers, ~~Accounting~~issued ~~Standards~~as ~~Codification~~a (new Topic, ASC) Topic ~~605,~~606 ~~Revenue~~("ASU ~~Recognition~~2014-09"). The ~~Estimates~~new ~~for~~revenue ~~potential~~recognition ~~uncollectible~~standard ~~accounts~~provides ~~receivable~~a ~~and~~five-step ~~sales~~analysis ~~returns~~of ~~are~~transactions ~~based~~to ondetermine awhen ~~variety~~and ofhow ~~factors,~~revenue ~~the~~is ~~age~~recognized. The premise of the ~~receivable,~~standard ~~historical~~is ~~payment~~that ~~patterns,~~a ~~and~~Company ~~actual~~should ~~return~~recognize ~~experience~~revenue ofto ~~specific~~depict ~~products~~the ortransfer ~~similar~~of ~~products.~~promised ~~The~~goods ~~Company~~or ~~also~~services ~~reviews~~to customers ~~its~~in ~~estimates~~an ~~for~~amount ~~product~~that ~~returns~~reflects ~~based~~the onconsideration ~~expected~~to ~~return~~which ~~data~~the ~~communicated~~entity expects to usbe byentitled ~~customers~~in ~~and~~exchange ~~historical~~for ~~experience~~those goods or services. ~~Management~~ isASU ~~able~~2014-09 tocan ~~make~~be ~~reasonable~~adopted ~~and~~by ~~reliable~~the ~~estimates~~Company ofeither ~~its~~retrospectively ~~allowance~~(Full ~~for~~Retrospective ~~doubtful~~Approach) ~~accounts~~or ~~and~~as ~~product~~a ~~returns~~cumulative-effect adjustment ~~based~~(Modified onRetrospective ~~our~~Approach) ~~history~~as inof ~~this~~the ~~business~~date of adoption.

-The 14Company -has adopted the guidance beginning in fiscal 2019 using the modified retrospective approach. The impact of adopting the standard on our consolidated financial statements and related disclosures was not material.

~~Income~~In ~~Taxes~~February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which will require lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the potential impact this standard will have on our consolidated financial statements and related disclosures.

WeManagement ~~account~~does ~~for~~not ~~income~~believe ~~taxes~~any ~~using~~other recently ~~the~~issued ~~asset~~but ~~and~~not ~~liability~~yet ~~method~~effective ~~under~~accounting ~~which~~pronouncements, ~~deferred~~if ~~tax~~adopted, ~~assets~~would orhave ~~liabilities~~a ~~are~~material ~~calculated at the balance sheet date using current tax laws and rates in~~ effect ~~for~~on the ~~year~~Company's inpresent or ~~which~~future ~~the~~consolidated ~~differences~~financial ~~are expected to affect taxable income~~statements. ~~Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.~~

~~Recent~~Results ~~Accounting~~of ~~Pronouncements~~Operations

InOur ~~May~~summary ~~2014,~~historical ~~the~~financial ~~Financial~~data is ~~Accounting~~presented ~~Standards~~in ~~Board~~the ~~("FASB")~~following ~~issued~~table ~~Accounting~~to ~~Standards~~aid ~~Updated~~you ~~("ASU")~~in ~~2014-09,~~your ~~Revenue~~analysis. ~~from~~You ~~Contracts~~should ~~with~~read ~~Customers,~~this ~~issued~~data asin aconjunction ~~new~~with ~~Topic,~~this section ~~ASC~~entitled ~~Topic~~Management's ~~606~~Discussion ~~("ASU~~and ~~2014-09").~~Analysis ~~The~~of ~~new~~Financial ~~revenue~~Condition ~~recognition~~and ~~standard~~Results ~~provides a give-step analysis~~ of ~~transactions~~Operations, toour ~~determine~~consolidated ~~when~~financial statements and ~~how revenue is recognized. The premise of~~ the ~~standard~~related isnotes ~~that a Company should recognize revenue~~ to ~~depict~~ the ~~transfer~~consolidated offinancial ~~promised~~statements ~~goods~~included orelsewhere ~~services to customers~~ in anthis ~~amount~~annual ~~that~~report. ~~reflects~~The selected ~~the~~financial ~~consideration~~data tobelow ~~which~~for the ~~entity~~fiscal ~~expects~~years toended beFebruary ~~entitled~~28, in2019 ~~exchange~~and ~~for~~2018 ~~those~~are ~~goods~~derived orfrom ~~services.~~our ~~ASU~~consolidated ~~2014-09~~financial statements ~~can~~included beelsewhere ~~adopted~~in bythis ~~the~~annual ~~Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption~~report.

The Company has elected to adopt the guidance beginning in fiscal 2019 using the modified retrospective approach. The Company is performing as assessment of the impact of adoption of this guidance, including required disclosures with assistance from an outside subject matter expert. Although our evaluation is not yet finalized, management believes that the impact of adopting the standard on our consolidated financial statements and related disclosures will not be material.13

InFiscal ~~February~~year ~~2016,~~ended ~~the~~February ~~FASB issued ASU 2016-02~~28, ~~"Leases~~2019 ~~(Topic~~compared ~~842)," which will require lessees~~ to ~~recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes,~~ the corresponding ~~FASB~~period ~~retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied~~ in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. This ASU is effective for fiscal ~~years beginning after December 15,~~ 2018~~, including interim periods within those fiscal years~~. ~~We are currently evaluating the potential impact this standard will have on our consolidated financial statements and related disclosures.~~

~~Management~~Selected ~~does~~Financial ~~not believe any other recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company's present or future consolidated financial statements.~~Data

Results of Operations

	Years Ended
	February 28,			February 28,						Percentage
	2019			2018			Difference			Change

Sales	$	3,153,429		$	5,279,377		$	(2,125,948	)		(40	%)
Cost of sales		1,633,430			2,802,565			(1,169,135	)		(42	%)
Gross profit		1,519,999			2,476,812			(956,813	)		(39	%)
Gross profit percentage		48	%		47	%

Selling, general and administrative expenses		1,563,498			1,614,885			(51,387	)		(3	%)
Legal expenses		140,098			162,425			(22,327	)		(14	%)
Depreciation and amortization		55,040			60,232			(5,192	)		(9	%)

(Loss) income from operations		(238,637	)		639,270			(877,907	)		(137	%)

Interest expense		(1,919	)		(4,394	)		2,475			(56	%)
Other income		429			32,728			(32,299	)		(99	%)

(Loss) income before income taxes		(240,127	)		667,604			(907,731	)		(136	%)
(Loss) income before income taxes percentage		(8	%)		13	%

Provision for income taxes		-			(6,697	)		6,697			(100	%)
Net (loss) income		(240,127	)		660,907			(901,034	)		(136	%)
Net (loss) income percentage		(8	%)		13	%
Net (loss) income per share - basic and diluted	$	(0.01	)	$	0.02

Net cash provided by operating activities		45,310			1,378,802
Net cash used in investing activities		(37,655	)		(30,774	)
Net cash used in financing activities		(5,366	)		(4,307	)

~~Our~~Sales. Sales ~~summary historical financial data is presented in the following table~~ decreased to ~~aid you in your analysis. You should read this data in conjunction with this section entitled Management's Discussion and Analysis of Financial Condition and Results of Operations~~$3,153,429 during ~~our consolidated financial statements and~~ the ~~related~~fiscal ~~notes~~year toended ~~the~~February ~~consolidated~~28, ~~financial~~2019 ~~statements~~from ~~included~~$5,279,377 ~~elsewhere~~during ~~in this annual report. The selected financial data below for~~ the ~~fiscal~~year ~~years~~ ended February 28, ~~2018~~2019. The ~~and~~decrease ~~February~~of ~~28,~~40% ~~2017~~is ~~are~~primarily ~~derived~~due ~~from~~to ~~our~~decreasing ~~consolidated~~sales ~~financial~~of ~~statements~~our ~~included~~portable ~~elsewhere~~retail inand ~~this~~bottle ~~annual report~~products.

-Cost 15of -sales and gross profit percentage. As a percentage of sales, the gross profit margin during the fiscal year ended February 28, 2019 increased to 48% from 47% due to product mix and timing of significant sales. The Company believes that the average gross margin percentages overall can decrease to a range around approximately 40% in the foreseeable future.

~~Fiscal~~Legal ~~year~~expenses. The ~~ended~~decrease in ~~February~~legal 28expenses of $22,327 ~~2018~~is ~~compared~~due to ~~the~~fees ~~corresponding~~for ~~period~~employment inmatters ~~fiscal 2017~~settled during year-end February 28, 2019.

~~Selected~~Selling, ~~Financial~~general ~~Data~~and administrative expense. The selling, general and administrative expenses decreased $51,387, or (3%), from prior year. The decrease was a direct result of the Company managing cost.

	Years Ended
	February 28,			February 28,						Percentage
	2018			2017			Difference			Change
Sales	$	5,279,377		$	4,378,436		$	900,941			21	%
Cost of sales		2,802,565			3,303,274			(500,709	)		(15	%)
Gross profit		2,476,812			1,075,162			1,401,650			130	%
Gross profit percentage		47	%		25	%		156	%
Selling, general and administrative expenses		1,614,885			2,414,225			(799,340	)		(33	%)
Impairment of intangible assets		-			50,000			(50,000	)		(100	%)
Legal expenses		162,425			374,103			(211,679	)		(57	%)
Depreciation and amortization		60,232			80,781			(20,549	)		(25	%)
Income (loss) from operations		639,270			(1,843,947	)		2,483,217			(135	%)
Interest income		-			28			(28	)		(100	%)
Interest expense		(4,394	)		(1,640	)		(2,754	)		168	%
Other income		32,728			475			32,253			6790	%
Income (loss) before income taxes		667,604			(1,845,084	)		2,512,688			(136	%)
Income (loss) before income taxes percentage		13	%		(42	%)		291	%
Provision for income taxes		(6,697	)		(302,140	)		295,433			(98	%)
Net income (loss)		660,907			(2,147,224	)		2,808,131			(131	%)
Net income (loss) percentage		13	%		(49	%)		356	%
Net income (loss) per share - basic and diluted	$	0.02		$	(0.08	)
Net cash provided by (used in) operating activities		1,369,179			(1,276,231	)
Net cash used in investing activities		(21,151	)		(27,092	)
Net cash used in financing activities		(4,307	)		(27,438	)

Interest expense. Interest expense was relatively consistent from year to year.

~~Sales~~Other income. ~~Sales~~Other ~~increased~~income decreased to $532,~~279~~299,~~377 during~~ ~~the~~or ~~fiscal year ended February 28, 2018 from $4,378,436 during the year ended February 28, 2017. The increase of 21~~(99% ~~is primarily due to increasing sales of our bottle, portable retail, pitcher products and straw~~).

~~Cost~~Provision offor ~~sales~~income ~~and gross profit percentage~~taxes. As The aCompany ~~percentage~~did ofnot ~~sales,~~record ~~the~~an ~~gross~~income ~~profit~~tax ~~margin~~expense ~~during the year ended February 28, 2018 increased to 47% from 25%~~ due to ~~Company~~its ~~managing~~pretax ~~cost~~loss ~~in line with revenue. The product mix and timing~~ of ~~significant sales is always an important factor in the resulting profit margins reported~~$240,127. ~~The Company believes that the average gross margin percentages overall can decrease to a range around approximately 40% in the foreseeable future.~~

-Net 16(loss) -income. The net loss for the year ended February 28, 2019 is $240,127 compared to the net income for the year ended February 28, 2018 of $660,907.

~~Legal expenses. The decrease in legal expenses of $211,679 is due to fees for employment matters/product design and performance not recurring in 2018.~~14

~~Impairment~~CONTRACTUAL ~~of intangible assets. The Company did not record any impairment charge during the fiscal year ended February 28~~OBLIGATIONS, ~~2018. The~~COMMITMENTS ~~Company~~AND ~~recorded~~OFF anBALANCE ~~impairment charge of $50,000 the balance of purchased intellectual property from a related party for $150,000 in fiscal year ended February 28, 2017.~~SHEET ARRANGEMENTS

~~Selling~~The Company has various contractual obligations, ~~general~~which ~~and~~are ~~administrative.~~recorded ~~The~~as ~~selling,~~liabilities ~~general~~in ~~and~~the ~~administrative~~consolidated ~~expenses~~financial ~~decreased~~statements. ~~$799~~Other items,~~340,~~ orsuch ~~(33%),~~as ~~from~~certain ~~prior~~lease ~~year.~~agreements are ~~This~~not ~~decrease~~recognized ~~was~~as aliabilities ~~direct~~in ~~result~~our ofconsolidated ~~the~~financial ~~decrease~~statements inbut ~~personnel~~are ~~costs~~required ~~incurred~~to inbe ~~reductions~~disclosed. ofFor example, the Company's is ~~management~~contractually ~~and~~committed ~~Board~~to ofmake ~~Directors~~certain minimum lease payments to rent its current corporate location.

~~Interest~~The ~~income~~following ~~and~~table ~~expense.~~summarizes ~~Interest~~our ~~income~~significant contractual obligations on an undiscounted basis as of February 28, 2019 and ~~expense~~the ~~was~~future ~~relatively~~periods ~~consistent~~in ~~from~~which ~~year~~such obligations are expected to ~~year~~be settled in cash or converted into the Company's common stock. In addition, the table reflects the timing of principal payments on outstanding borrowings. Additional details regarding these obligations are provided in footnotes, as referenced below:

Other income and expense. Other income and expense increased $32,253, or 6790%.

	Total		Less Than 1 Year		1- 3 Years		3-5 Years		More Than 5 Years
Accounts payable and accrued expenses	$	267,641	$	267,641	$	-	$	-	$	-
Customer deposits		30,567		30,567		-		-		-
Capital lease		9,120		5,938		3,182		-		-
Other contractual commitments ⁽¹⁾		621,908		253,908		368,000		-		-
Total contractual obligations	$	929,236	$	558,054	$	371,182	$	-	$	-

⁽¹⁾ Office lease commitments expiring July 2021.

~~Provision~~Liquidity ~~for~~and ~~income~~capital ~~taxes~~resources. ~~The Company recorded an income tax expense of $6,697 with pretax income of $667,603. In the fiscal year ended February 28, 2017 the company recorded an income tax provision of $302,140.~~

Net ~~Income~~cash ~~(loss). The~~provided by ~~net~~operating ~~income~~activities. ~~for~~During the fiscal year ended February 28, ~~2018~~2019, isthe Company had cash provided by operating activities of $~~660~~45,~~907~~310 compared to cash provided by operating activities of $1,378,802 in the ~~net~~comparable ~~(loss)~~prior ~~for~~period. During the year ended February 28, ~~2017~~2019, the Company had a net loss of $2240,~~147~~127 compared to year ended February 28,~~224~~ ~~($0.02~~2018 ~~income~~the ~~per~~Company ~~basic~~had ~~share~~a ~~and~~net income of $~~0.02~~660,907 ~~per~~due ~~diluted~~to ~~share)~~reduction in sales.

-Net 17cash -used in investing activities. The Company spent approximately $38,000 on capital expenditures compared to approximately $31,000 in the prior period. Cash used in investment during the fiscal year ended February 28, 2019 was for the purchase of additional tooling and molding to increase production capacity and also for shop equipment.

~~CONTRACTUAL~~Net ~~OBLIGATIONS~~cash used in financing activities. In fiscal 2019 and 2018, ~~COMMITMENTS~~the ~~AND~~Company ~~OFF~~repaid ~~BALANCE~~$5,366 ~~SHEET~~and ~~ARRANGEMENTS~~$4,307, respectively in capital leases payable.

~~The~~As ~~Company~~of ~~has~~February ~~various~~28, ~~contractual obligations~~2019, ~~which~~the ~~are~~Company has ~~recorded~~unrestricted ascash ~~liabilities~~and incash ~~the~~equivalents ~~consolidated~~of ~~financial~~approximately ~~statements. Other items~~$2,078,000 ~~such~~and asa ~~certain~~backlog ~~lease~~of ~~agreements~~approximately ~~are~~$240,000 ~~not recognized as liabilities~~ in ~~our~~orders ~~consolidated financial statements but are required~~ to ~~be disclosed~~fill. ~~For example, the Company is contractually committed to make certain minimum lease payments to rent its current corporate location.~~

~~The~~Capital following table summarizes our significant contractual obligations on an undiscounted basis as of February 28, 2018 and the future periods in which such obligations are expected to be settled in cash or converted into the Company's common stockexpenditures. ~~In addition, the table reflects the timing of principal payments on outstanding borrowings. Additional details regarding these obligations are provided in footnotes, as referenced below:~~

	Total		Less Than 1 Year		1- 3 Years		3-5 Years		More Than 5 Years
Accounts payable and accrued liabilities	$	450,948	$	450,948	$	-	$	-	$	-
Customer deposits		163,184		163,184		-		-		-
Capital lease		5,403		4,047		1,356		-		-
Other contractual commitments (1)		868,816		246,908		512,908		109,000		-
Total contractual obligations	$	1,488,351	$	865,087	$	514,264	$	109,000	$	-
(1) Office lease commitments expiring July 2021 and equipment lease expiring in fiscal year 2020.

We do not expect any major capital expenditures in fiscal 2020. However, minor purchases of additional molds or tooling may be needed to expand our product line. We will be able to fund these purchases from cash on hand and we will not require outside financing.

~~Liquidity~~ Any ~~and~~seasonal ~~capital resources.~~aspects

~~Net~~We ~~cash~~have ~~provided~~not byexperienced ~~(used~~seasonal spikes in) ~~operating~~our ~~activities.~~sales ~~During~~as ~~the~~a ~~fiscal~~result ~~years ended February 28, 2018, the Company had cash provided by operating activities~~ of ~~$1,369,179~~our ~~compared~~very tolimited ~~cash~~retail ~~used~~store indistribution ~~operating~~and ~~activities~~our ofsales ~~$1,276,231~~are innot ~~the~~subject ~~comparable prior period. During the year ended February 28, 2018, the Company had a net income of $660,907 compared~~ to ~~year~~material ~~ended~~seasonal ~~February 28, 2017 the Company had a net loss of $2,147,224~~fluctuation.

~~Net~~ Off-Balance ~~cash~~Sheet used in investing activities. The Company spent approximately $21,000 on capital expenditures compared to approximately $27,000 in the comparable prior period. Cash used in investment during the year ended February 28, 2018 was for the purchase of additional tooling and molding to increase production capacity and also for shop equipment.Arrangements

~~- 18 -~~None

~~Net~~ITEM ~~cash used in financing activities~~7A. In ~~fiscal~~QUANTITATIVE ~~2018~~AND ~~and~~QUALITATIVE ~~2017,~~DISCLOSURE ~~the~~ABOUT ~~Company~~MARKET ~~repaid $4,307 in capital leases payable. In fiscal 2017, we also repurchased 30,000 shares of common stock for a cost of $17,400.~~RISK

AsA ofsmaller ~~February~~reporting ~~28,~~company ~~2018,~~is ~~the~~not ~~Company~~required ~~has~~to ~~unrestricted~~provide ~~cash~~the information ~~and cash equivalent of approximately $2,076,000 and a backlog of approximately $395,000~~ in ~~orders~~this ~~to fill~~Item.

~~Capital~~ITEM ~~expenditures~~8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

We do not expect any major capital expenditures in fiscal 2018. However, minor purchases of additional molds or tooling may be needed to expand our product line. We will be able to fund these purchases from cash on hand and we will not require outside financing.15

~~Employees.~~ Report of Independent Registered Public Accounting Firm

AsTo ofthe ~~February~~Stockholders ~~28, 2018, we had a President~~ and ~~one~~the ~~(1)~~Board ~~executive~~of Directors ~~employee~~of ~~with~~Seychelle ~~five~~Environmental ~~(5) administrative employees supporting that effort. In assembly~~Technologies, ~~operations and warehousing we had seventeen (17) full-time employees and one (1) part-time employee~~Inc.

AsOpinion ~~of June~~on 8,the ~~2018,~~Financial our employees consisted of a President and one (1) executive employee with four (4) administrative employees supporting that effort. In assembly, operations and warehousing we had sixteen (16) full-time employees and one (1) part time employee.Statements

~~Any~~We ~~seasonal~~have ~~aspects~~audited the accompanying consolidated balance sheets of Seychelle Environmental Technologies, Inc. and its subsidiaries (the Company) as of February 28, 2019 and 2018, the related consolidated statements of operations, stockholders' equity and cash flows for the years then ended, and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of February 28, 2019 and 2018, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

WeBasis ~~have~~for ~~not experienced seasonal spikes in our sales as a result of our very limited retail store distribution and our sales are not subject to material seasonal fluctuation.~~Opinion

~~Off-Balance~~These ~~Sheet~~financial ~~Arrangements:~~statements ~~None~~are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

~~ITEM~~We 7Aconducted our audits in accordance with the standards of the PCAOB. ~~QUANTITATIVE~~Those ~~AND~~standards ~~QUALITATIVE~~require ~~DISCLOSURE~~that ~~ABOUT~~we ~~MARKET~~plan ~~RISK~~and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

AOur ~~smaller~~audits included ~~reporting~~performing ~~company~~procedures isto ~~not~~assess ~~required~~the risks of material misstatement of the financial statements, whether due to ~~provide~~error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the ~~information~~amounts and disclosures in ~~this~~the ~~Item~~financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

~~ITEM~~/s/ 8.Squar ~~FINANCIAL~~Milner ~~STATEMENTS AND SUPPLEMENTARY DATA~~LLP

-We 19have -served as the Company's auditor since 2016.

~~Report~~Irvine, ~~of Independent Registered Public Accounting Firm~~California

ToMay ~~the Stockholders and the Board of Directors of Seychelle Environmental Technologies~~29, ~~Inc.~~2019

~~Opinion on the Financial Statements~~F-1

WeSEYCHELLE ~~have~~ENVIRONMENTAL ~~audited the accompanying consolidated balance sheets of Seychelle Environmental Technologies~~TECHNOLOGIES, ~~Inc~~ INC. and its subsidiaries (the Company) as of February 28, 2018 and 2017, the related consolidated statements of operations, stockholders' equity and cash flows for the years then ended, and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of February 28, 2018 and 2017, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

~~Basis~~Consolidated ~~for~~Balance ~~Opinion~~Sheets

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

ASSETS
	February 28,			February 28,
	2019			2018
CURRENT ASSETS
Cash and cash equivalents	$	2,078,122		$	2,075,833
Accounts receivable, net of allowance for doubtful accounts of $4,614 and $8,617, respectively		352,818			829,790
Related party receivable		31,472			35,007
Inventory, net		972,497			998,296
Prepaid expenses, deposits and other current assets		129,049			159,980
Total current assets		3,563,958			4,098,906

PROPERTY AND EQUIPMENT, NET		118,154			135,539

OTHER ASSETS
Other assets		66,670			66,670

Total assets	$	3,748,782		$	4,301,115

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	267,641		$	441,866
Customer deposits		30,567			163,184
Capital lease obligations, current portion		5,938			5,402
Total current liabilities		304,146			610,452

LONG-TERM LIABILITIES

Capital lease obligations, net of current portion		3,182			9,082
Total long-term liabilities		3,182			9,082

Total liabilities		307,328			619,534

Commitments and contingencies (Note 9)

STOCKHOLDERS' EQUITY
Preferred stock, 6,000,000 shares authorized,
none issued or outstanding		-			-
Common stock $0.001 par value, 50,000,000 shares
authorized, 26,640,313 shares
issued and outstanding		26,641			26,641
Additional paid-in capital		8,944,368			8,944,368
Accumulated deficit		(5,499,875	)		(5,259,748	)
Less treasury stock at cost 66,000 shares		(29,680	)		(29,680	)

Total stockholders' equity		3,441,454			3,681,581
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	3,748,782		$	4,301,115

WeThe ~~conducted~~accompanying ~~our~~notes ~~audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements~~ are ~~free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,~~ an ~~audit of its internal control over financial reporting. As~~ integral part of ~~our~~these ~~audits~~consolidated ~~we are required to obtain an understanding of internal control over~~ financial ~~reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting~~statements. ~~Accordingly, we express no such opinion.~~

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.F-2

~~/s/~~SEYCHELLE ~~Squar~~ENVIRONMENTAL ~~Milner LLP~~TECHNOLOGIES, INC.

WeConsolidated ~~have~~Statements ~~served as the Company's auditor since 2016.~~of Operations

Newport Beach, California

	For the Year Ended
	February 28,			February 28,
	2019			2018

SALES *	$	3,153,429		$	5,279,377
COST OF SALES		1,633,430			2,802,565
GROSS PROFIT		1,519,999			2,476,812

Selling, general and administrative expenses		1,563,498			1,614,885
Legal expenses		140,098			162,425
Depreciation and amortization		55,040			60,232

Total operating expenses		1,758,636			1,837,542

(LOSS) INCOME FROM OPERATIONS		(238,637	)		639,270

Interest expense		(1,919	)		(4,394	)
Other income		429			32,728

Total other (expense) income		(1,490	)		28,334

(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES		(240,127	)		667,604

Provision for income taxes		-			(6,697	)

NET (LOSS) INCOME	$	(240,127	)	$	660,907
NET (LOSS) INCOME PER SHARE
Basic	$	(0.01	)	$	0.02
Diluted	$	(0.01	)	$	0.02
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic		26,574,313			26,574,313
Diluted		26,574,313			26,574,313

* NET REVENUE FROM RELATED PARTIES	$	1,063,987		$	659,998

~~June~~The 8,accompanying ~~2018~~notes are an integral part of these consolidated financial statements.

F-13

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

Consolidated ~~Balance~~Statements ~~Sheets~~of Stockholders' Equity

ASSETS
	February 28,			February 28,
	2018			2017
CURRENT ASSETS
Cash and cash equivalents	$	2,075,833		$	732,112
Accounts receivable, net of allowance for doubtful accounts of $8,617 and $47,600 respectively		829,790			905,507
Related party receivable		35,007			27,200
Inventory, net		998,296			1,421,871
Prepaid expenses, deposits and other current assets		159,980			282,560
Total current assets		4,098,906			3,369,250
PROPERTY AND EQUIPMENT, NET		135,539			164,997
OTHER ASSETS
Other assets		66,670			81,310
TOTAL ASSETS	$	4,301,115		$	3,615,557
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses	$	441,866		$	476,415
Customer deposits		163,184			99,677
Capital lease obligations, current portion		5,402			4,047
Total current liabilities		610,452			580,139
LONG-TERM LIABILITIES
Capital lease obligations, net of current portion		9,082			14,744
Total long-term liabilities		9,082			14,744
Total liabilities		619,534			594,883
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY
Preferred stock, 6,000,000 shares authorized,
none issued or outstanding		-			-
Common stock $0.001 par value, 50,000,000 shares
authorized, 26,640,313 shares
issued and outstanding		26,641			26,641
Additional paid-in capital		8,944,368			8,944,368
Accumulated deficit		(5,259,748	)		(5,920,655	)
Less treasury stock at cost 66,000 shares		(29,680	)		(29,680	)
Total stockholders' equity		3,681,581			3,020,674
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	4,301,115		$	3,615,557

For the Years Ended February 28, 2019 and 2018

The accompanying notes are an integral part of these consolidated financial statements.


	Common Stock			Treasury Stock
	Shares		Amount	Shares	Amount		Additional Paid-In Capital	Accumulated Deficit	Total

Balance at February 28, 2017	26,640,313		$ 26,641	66,000	$ (29,680)	)	$8,944,368	$(5,920,655)	$3,020,674

Net income	-		-	-	-		-	660,907	660,907

Balance at February 28, 2018	26,640,313		26,641	66,000	(29,680	)	8,944,368	(5,259,748)	3,681,581

Net loss	-		-	-	-		-	(240,127)	(240,127)

Balance at February 28, 2019	26,640,313	$	$ 26,641	66,000	$ (29,680)		$8,944,368	$(5,499,875)	$3,441,454

~~F-2~~The accompanying notes are an integral part of these consolidated financial statements.

~~SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.~~F-4

~~Consolidated~~SEYCHELLE ~~Statements~~ENVIRONMENTAL ~~of Operations~~TECHNOLOGIES, INC.

	For the Year Ended
	February 28,			February 28,
	2018			2017
SALES	$	5,279,377		$	4,378,436
COST OF SALES		2,802,565			3,303,274
GROSS PROFIT		2,476,812			1,075,162
Selling, general and administrative expenses		1,614,885			2,414,225
Impairment of intangible assets (Note 5)		-			50,000
Legal expenses		162,425			374,103
Depreciation and amortization		60,232			80,781
Total operating expenses		1,837,542			2,919,109
INCOME (LOSS) FROM OPERATIONS		639,270			(1,843,947	)
Interest income		-			28
Interest expense		(4,394	)		(1,640	)
Other income		32,728			475
Total other income (expense)		28,334			(1,137	)
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES		667,604			(1,845,084	)
Provision for income taxes		(6,697	)		(302,140	)
NET INCOME (LOSS)	$	660,907		$	(2,147,224	)
NET INCOME (LOSS) PER SHARE
Basic	$	0.02		$	(0.08	)
Diluted	$	0.02		$	(0.08	)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic		26,574,313			26,574,313
Diluted		26,574,313			26,574,313

Consolidated Statements of Cash Flows

The accompanying notes are an integral part of these consolidated financial statements.

	For the Year Ended
	February 28, 2019			February 28, 2018

CASH FLOW FROM OPERATING ACTIVITIES:
Net (loss) income	$	(240,127)		$	660,907
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		55,040			60,232
Provision for doubtful accounts		19,233			37,911
Changes in operating assets and liabilities:
Accounts receivable		457,739			37,806
Related party receivable		3,535			(7,807	)
Inventory		25,800			423,575
Prepaid expenses, deposits and other current assets		30,931			137,220
Accounts payable and accrued expenses		(174,224	)		(34,549	)
Customer deposits		(132,617)			63,507
Net Cash Provided by Operating Activities		45,310			1,378,802

CASH FROM INVESTING ACTIVITIES:
Additions to property and equipment		(37,655	)		(30,774	)
Net Cash Used in Investing Activities		(37,655	)		(30,774	)

CASH FROM FINANCING ACTIVITIES:
Repayment of capital lease obligations		(5,366	)		(4,307	)
Net Cash Used in Financing Activities		(5,366	)		(4,307	)

NET INCREASE IN CASH AND CASH EQUIVALENTS		2,289			1,343,721

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		2,075,833			732,112

CASH AND CASH EQUIVALENTS AT END OF YEAR	$	2,078,122		$	2,075,833

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

CASH PAID DURING THE YEAR FOR:
Interest	$	1,919		$	4,395

~~F-3~~The accompanying notes are an integral part of these consolidated financial statements.

~~Consolidated Statements of Stockholders' Equity~~F-5

~~For~~SEYCHELLE ~~the~~ENVIRONMENTAL ~~Years Ended February 28~~TECHNOLOGIES, ~~2017 and February 29, 2016~~ INC.

	Common Stock Shares		Amount		Treasury Stock Shares		Amount			Additional Paid-In Capital		Accumulated Deficit			Total
Balance at February 28, 2016		26,390,313	$	26,391		36,000	$	(12,280	)	$	8,827,118	$	(3,773,431	)	$	5,067,798
Stock-based compensation		250,000		250		-		-			117,250		-			117,500
Treasury stock at cost		-		-		30,000		(17,400	)		-		-			(17,400	)
Net loss		-		-		-		-			-		(2,147,224	)		(2,147,224	)
Balance at February 28, 2017		26,640,313		26,641		66,000		(29,680	)		8,944,368		(5,920,655	)		3,020,674
Net income		-		-		-		-			-		660,907			660,907
Balance at February 28, 2018		26,640,313	$	26,641		66,000	$	(29,680	)	$	8,944,368	$	(5,259,748	)	$	3,681,581

Notes to the Consolidated Financial Statements

~~The~~NOTE ~~accompanying~~1: ORGANIZATION ~~notes~~AND ~~are~~DESCRIPTION OF ~~an integral part of these consolidated financial statements.~~BUSINESS

~~F-4~~Organization

~~SEYCHELLE~~Seychelle ~~ENVIRONMENTAL~~Environmental ~~TECHNOLOGIES~~Technologies, Inc. ~~INC~~was incorporated under the laws of the State of Nevada on January 23, 1998 as a change in domicile to Royal Net, Inc., a Utah corporation that was originally incorporated on January 24, 1986. Royal Net, Inc. changed its state of domicile to Nevada and its name to Seychelle Environmental Technologies, Inc. effective in January 1998. Seychelle Water Technologies, Inc., and Fill 2 Pure International, Inc., both wholly owned subsidiaries, were formed as corporations in February 1997 and April 2013, respectively, under the laws of the state of Nevada for the purpose of marketing. Seychelle Environmental Technologies, Inc. and it’s subsidiaries are collectively herein referred to as “Seychelle” or the “Company”

~~Consolidated~~Description ~~Statements~~ of ~~Cash Flows~~Business

	February 28, 2018			February 28, 2017
CASH FLOW FROM OPERATING ACTIVITIES:
Net income (loss)	$	660,907		$	(2,147,224	)
Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:
Depreciation and amortization		60,232			80,777
Loss on disposal of assets		-			5,587
Impairment of intangible assets		-			50,000
Stock-based compensation		-			117,500
Provision (recovery of) for doubtful accounts		37,911			(47,063	)
Deferred tax		-			(468,282	)
Increase in valuation allowance on deferred tax assets		-			1,081,998
Changes in operating assets and liabilities:
Accounts receivable		37,806			(634,209	)
Related party receivable		(7,807	)		12,375
Inventory		423,575			1,089,587
Prepaid expenses, deposits and other current assets		137,220			(232,779	)
Accounts payable and accrued expenses		(34,549	)		61,189
Income taxes payable		-			(317,145	)
Customer deposits		63,507			71,458
Net Cash Provided by (Used In) Operating Activities		1,369,802			(1,276,231	)
CASH FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(30,774	)		(27,092	)
Net Cash Used in Investing Activities		(30,774	)		(27,092	)
CASH FROM FINANCING ACTIVITIES:
Purchase of treasury stock		-			(17,400	)
Repayment of capital lease obligations		(4,307	)		(10,038	)
Net Cash Used in Financing Activities		(4,307	)		(27,438	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		1,343,721			(1,330,761	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR		732,112			2,062,873
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	2,075,833		$	732,112
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
CASH PAID DURING THE YEAR FOR:
Interest	$	4,395		$	1,640
Income taxes	$	-		$	237,295

The Company designs, assembles and distributes water filtration systems. These systems include portable water bottles, canteens, pumps, home-use pitchers, and related water filtration products that can be filled from nearly any available source of fresh water.

~~The~~NOTE ~~accompanying~~2: SIGNIFICANT ~~notes~~ACCOUNTING ~~are an integral part of these consolidated financial statements.~~POLICIES

~~F-5~~This summary of significant accounting policies of the Company is presented to assist in understanding the Company's consolidated financial statements. The consolidated financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to generally accepted accounting principles in the United States of America and have been consistently applied in the preparation of the consolidated financial statements herein as of and for the years ended February 28, 2019 and 2018.

~~SEYCHELLE~~Basis ~~ENVIRONMENTAL~~of ~~TECHNOLOGIES, INC.~~Presentation

~~Notes~~The toaccompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the ~~Consolidated~~United ~~Financial~~States ~~Statements~~of America.

~~NOTE~~Principles ~~1: ORGANIZATION~~of ~~AND DESCRIPTION OF BUSINESS~~Consolidation

~~Organization~~The Company is presently comprised of Seychelle Environmental Technologies, Inc., a Nevada corporation, with two wholly-owned subsidiaries, Seychelle Water Technologies, Inc., and Fill 2 Pure International, Inc., also Nevada corporations. All significant intercompany transactions and balances have been eliminated in consolidation.

~~Seychelle~~Use ~~Environmental Technologies, Inc. was incorporated under the laws~~ of the State of Nevada on January 23, 1998 as a change in domicile to Royal Net, Inc., a Utah corporation that was originally incorporated on January 24, 1986. Royal Net, Inc. changed its state of domicile to Nevada and its name to Seychelle Environmental Technologies, Inc. effective in January 1998. Seychelle Water Technologies, Inc., and Fill 2 Pure International, Inc., both wholly owned subsidiaries, were formed as corporations in February 1997 and April 2013, respectively, under the laws of the state of Nevada for the purpose of marketing.Estimates

~~Description~~The preparation of ~~Business~~the consolidated financial statements in conformity with generally accepted accounting principles in the United States, 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made in preparing the consolidated financial statements include inventory reserves, the allowance for doubtful accounts receivable and the deferred income tax valuation allowance. Actual results could differ from those estimates.

~~The Company designs, assembles and distributes water filtration systems. These systems include portable water bottles, pumps, home~~F-~~use pitchers, and related water filtration products that can be filled from nearly any available source of fresh water.~~ 6

~~Management's~~SEYCHELLE ~~Plan~~ENVIRONMENTAL TECHNOLOGIES, INC.

AsNotes ofto ~~February 28, 2018,~~ the ~~Company~~Consolidated ~~had approximately $2,076,000 in cash and cash equivalents and a backlog of approximately $395,000 in unshipped product.~~Financial Statements

~~Seychelle~~NOTE ~~has~~2: SIGNIFICANT ~~been~~ACCOUNTING continuing to develop innovative marketing and product concepts for water purification for the world. The demand is expanding rapidly due to the health concerns caused by extensive contamination of drinking water by major industrial, agriculture and natural causes. Seychelle continues to develop new technologies that remove contaminants such as lead, Chromium and others to create products for both here in the U.S. and also around the world to ensure safe drinking water. With the growing interest for higher alkaline water, referred to as pH, Seychelle now includes a full line of products that meets these demands.POLICIES (CONTINUED)

~~This~~Cash ~~year, Seychelle products have expanded its sales efforts in the following international markets; Mexico, Sri Lanka, Vietnam, South Korea, Australia, New Zealand, Japan~~ and ~~China~~Cash ~~. It's our intention to expand our marketing activities more strongly to the international market and E-commerce. In addition, Seychelle is managing cost in line with current revenue.~~Equivalents

~~Our~~The ~~cash~~Company ~~requirements~~considers ~~relate~~highly ~~primarily~~liquid toinvestments with ~~working~~original ~~capital~~maturities ~~needed~~of tothree ~~operate~~months ~~and~~or ~~grow~~less ~~our~~to ~~business,~~be ~~including~~cash ~~funding operating expenses, growth in inventory and servicing clients, and continued development and expansion of our products~~equivalents. ~~Our~~The ~~ability~~Company tomaintains ~~achieve~~its ~~profitability~~cash and ~~meet~~cash ~~future~~equivalents in ~~liquidity~~bank ~~needs~~deposit ~~and~~accounts ~~capital~~which ~~requirements~~at ~~will~~times ~~depend~~may ~~upon~~exceed ~~numerous~~federally ~~factors,~~insured ~~including~~limits ~~the timing and quantity~~ of ~~product~~$250,000. The ~~orders~~Company ~~and~~has ~~shipments;~~not ~~the~~experienced any ~~timing~~losses ~~and~~related ~~amount~~to ofthis ~~our~~concentration ~~operating expenses; the timing and costs~~ of ~~product~~risk. ~~service~~Deposits ~~requirements;~~exceeded ~~the~~insured ~~extent~~limits toby ~~which~~approximately ~~our~~$1,828,000 ~~products~~as ~~gain market acceptance; the timing and costs~~ of ~~product~~February ~~development and introductions; the extent of our ongoing and any new research and development programs; and changes in our strategy or our planned activities~~28, 2019.

~~NOTE~~Accounts ~~2: SIGNIFICANT ACCOUNTING POLICIES~~Receivable

~~This~~The ~~summary~~Company ofperforms ~~significant~~periodic ~~accounting~~credit ~~policies~~evaluations of ~~the~~its ~~Company is presented to assist in understanding the Company~~customers'~~s consolidated~~ financial ~~statements. The consolidated~~condition ~~financial statements~~ and ~~notes~~does ~~are~~not ~~representations~~require ~~of the Company's management, which is responsible for their integrity and objectivity~~collateral. ~~These~~Trade ~~accounting~~receivables ~~policies conform to~~ generally ~~accepted~~are ~~accounting~~due ~~principles~~ in ~~the~~30 ~~United~~days. ~~States~~An ~~and~~allowance ~~have~~for ~~been~~doubtful accounts ~~consistently~~is ~~applied~~recorded inwhen ~~the~~it ~~preparation~~is ofprobable ~~the~~that ~~consolidated~~all ~~financial~~or ~~statements~~a ~~herein~~portion as of ~~and for~~a ~~the~~trade ~~years~~receivable ~~ended~~balance ~~February~~will ~~28,~~not ~~2018~~be ~~and February 28, 2017~~collected.

~~Basis~~Revenue ~~of Presentation~~Recognition

~~The~~We ~~accompanying~~derive ~~consolidated~~our ~~financial~~revenue ~~statements~~primarily ~~have~~from product ~~been~~sales. We ~~prepared~~determine inrevenue ~~accordance~~recognition through the following steps: (1) identification of the contract with ~~accounting~~a ~~principles~~customer; (2) ~~generally~~identification ~~accepted~~of the performance obligations in the ~~United~~contract; ~~States~~(3) determination of ~~America~~the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; (5) recognition of revenue when, or as, we satisfy a performance obligation.

~~Principles~~The Company's performance obligations consist solely of ~~Consolidation~~product shipped to customers. Revenue from product sales is recognized upon transfer of control of promised products to customers in an amount that reflects the consideration we expect to receive in exchange for these products. Revenue is recognized net of returns and any taxes collected from customers. We offer standard contractual terms in our purchase orders. In addition, we use the practical expedient related to commissions paid since they would be amortized in less than one year.

The Company is presently comprised of Seychelle Environmental Technologies, Inc., a Nevada corporation, with two wholly-owned subsidiaries, Seychelle Water Technologies, Inc., and Fill 2 Pure International, Inc., also Nevada corporations (collectively, the Company or Seychelle). All significant intercompany transactions and balances have been eliminated in consolidation.Inventory

~~Use~~Inventory is stated at the lower of cost ~~Estimates~~or net realizable value. Cost is determined on a first-in, first-out basis. Inventory is comprised of raw materials and finished goods. Raw materials consist of fittings, caps and other components necessary to assemble the Company's finished goods. Finished goods consist of water bottles and other filtration systems that are available for shipment to customers. Finished goods and work in process include the costs of materials, labor and an allocation of overhead. Total overhead allocated to inventory as of February 28, 2019 and 2018 amounted to approximately $200,000 and $68,000, respectively.

~~The~~At ~~preparation~~each ofbalance ~~the~~sheet ~~consolidated~~date, ~~financial~~the ~~statements~~Company evaluates inits ~~conformity~~ending ~~with~~inventory ~~generally~~for ~~accepted~~excess ~~accounting~~quantities ~~principles~~and inobsolescence. This ~~the~~evaluation ~~United~~includes ~~States,~~an ~~requires~~analysis ~~management~~of tosales levels ~~make~~by ~~estimates~~product ~~and~~type. Among ~~assumptions~~other ~~that~~factors, ~~affect~~ the ~~reported~~Company ~~amounts~~considers ofcurrent ~~assets~~product ~~and~~configurations, ~~liabilities~~historical and ~~disclosure~~forecasted demand, ofmarket ~~contingent~~conditions ~~assets~~ and ~~liabilities~~product atlife ~~the~~cycles ~~date~~when ofdetermining the ~~consolidated~~net ~~financial~~realizable ~~statements~~value ~~and~~of the ~~reported~~inventory. Provisions are ~~amounts~~made ofto ~~revenues~~reduce ~~and~~excess ~~expenses~~or ~~during~~obsolete ~~the~~inventories ~~reporting~~to ~~periods.~~their ~~Significant~~estimated ~~estimates~~net ~~made~~realizable invalues. Once ~~preparing~~established, ~~the~~write-downs are ~~consolidated~~considered ~~financial~~permanent ~~statements~~adjustments ~~include~~to the ~~allowance~~cost ~~for~~basis ~~doubtful~~of ~~accounts~~the ~~and~~excess ~~sales~~or ~~returns,~~obsolete inventory. The ~~reserves~~Company's inventory is reduced by excess and ~~the~~obsolete ~~deferred~~inventory ~~income~~reserve, ~~tax~~which ~~valuation~~amounted ~~allowance.~~to ~~Actual~~approximately ~~results~~$126,000 ~~could~~and ~~differ~~$185,000 ~~from~~as ~~those~~of ~~estimates~~February 28, 2019 and 2018, respectively.

~~F-6~~Property and Equipment

~~SEYCHELLE~~Property ~~ENVIRONMENTAL~~and ~~TECHNOLOGIES~~equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable assets. The estimated useful lives used in determining depreciation are three to five years for tooling, ~~INC~~five years for computers and vehicles, and five to seven years for furniture and equipment. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the respective asset. Management evaluates useful lives regularly in order to determine recoverability.

~~Notes~~Maintenance and repairs are charged to expense as incurred; additions and betterments are capitalized. Upon retirement or sale, the ~~Consolidated~~cost ~~Financial~~and ~~Statements~~related accumulated depreciation of the disposed assets are removed, and any resulting gain or loss is recorded. Fully depreciated assets are not removed from the accounts until physical disposition.

~~NOTE 2: SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~F-7

~~Cash~~SEYCHELLE ~~and~~ENVIRONMENTAL ~~Cash Equivalents~~TECHNOLOGIES, INC.

~~The~~Notes ~~Company considers highly liquid investments with original maturities of three months or less~~ to bethe ~~cash~~Consolidated equivalents. The Company maintains its cash and cash equivalents in bank deposit accounts which at times may exceed federally insured limits of $250,000. The Company has not experienced any losses related to this concentration of risk. Deposits exceeded insured limits by approximately $1,826,000 as of February 28, 2018.Financial Statements

~~Accounts~~NOTE ~~Receivable~~2: SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

~~The~~Long-Lived Company performs periodic credit evaluations of its customers' financial condition and does not require collateral. Trade receivables generally are due in 30 days. An allowance for doubtful accounts is recorded when it is probable that all or a portion of a trade receivable balance will not be collected.Assets

~~Revenue~~The ~~Recognition~~carrying value of long-lived assets, such as property and equipment, are evaluated when indicators of impairment are present. Impairment is assessed when the undiscounted future cash flows estimated to be generated by those assets are less than the assets' carrying amount. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. No indicators of impairment existed during fiscal years ended, February 28, 2019 and 2018.

~~The~~Customer Company recognizes revenue when persuasive evidence of an arrangement exists, products are shipped and title has passed, the price to the buyer is fixed or determinable and collectability is reasonably assured. These criteria are typically met when the product is shipped. Revenue is not recognized at the time of shipment if these criteria are not met. Certain of the Company's sales include a right for the customer to return the product if they are not satisfied. The Company has an unconditional return policy for the first 90 days. Customers may return the product for a full refund, or they may receive a replacement at no charge. The same policy applies to any product sold from the period 91 days after purchase to one year, for any defects in materials or workmanship. In accordance with FASB ASC Topic 605, Revenue Recognition, the Company makes periodic assessments of return activity and if necessary records a reserve for product returns.Deposits

~~Inventory~~Customer deposits represent advance payments received for products and are recognized as a liability.

~~Inventory~~Fair isValue ~~stated at the lower~~ of ~~cost~~Financial or net realizable value. Cost is determined on a first-in, first-out basis. Inventory is comprised of raw materials and finished goods. Raw materials consist of fittings, caps and other components necessary to assemble the Company's finished goods. Finished goods consist of water bottles and other filtration systems that are available for shipment to customers. Finished goods and work in process include the costs of materials, labor and an allocation of overhead. Total overhead allocated to inventory as of February 28, 2018 and February 28, 2017 amounted to approximately $68,000 and $234,000, respectively.Instruments

AtFor ~~each~~certain ~~balance~~financial ~~sheet date~~instruments, ~~the~~including accounts ~~Company~~receivable, ~~evaluates~~accounts ~~its~~payable ~~ending inventory for excess quantities~~ and ~~obsolescence. This~~accrued ~~evaluation includes an analysis of sales levels by product type. Among other factors~~expenses, the ~~Company~~carrying ~~considers~~amounts ~~current~~approximate ~~product~~fair ~~configurations, historical and forecasted demand, market conditions and product life cycles when determining the net realizable~~ value ofdue ~~the inventory. Provisions are made~~ to ~~reduce excess or obsolete inventories to~~ their ~~estimated~~relatively short ~~net realizable values~~maturities. Once established, write-downs are considered permanent adjustments to the cost basis of the excess or obsolete inventory. The Company's reserve for excess and obsolete inventory amounted to approximately $185,000 and $416,000 as of February 28, 2018 and February 28, 2017, respectively.

~~Property~~Cost ~~and~~of ~~Equipment~~Sales

~~Property~~Cost ~~and~~of ~~equipment~~sales ~~are stated at cost. Depreciation~~ is ~~computed~~comprised ~~using~~primarily ~~the~~of ~~straight-line method over~~ the ~~estimated~~cost ~~useful lives~~ of ~~the~~purchased product, ~~depreciable~~as ~~assets. The~~well ~~estimated~~as ~~useful lives used in determining depreciation are three to five years for tooling~~labor, ~~five~~inbound ~~years~~freight ~~for computers and vehicles~~costs, ~~and~~allocated ~~five~~overhead tocosts ~~seven years for furniture~~ and ~~equipment.~~other ~~Leasehold~~material ~~improvements~~costs ~~are~~required ~~amortized~~to ~~over~~complete ~~the~~products, including ~~shorter~~inventory ofmarkdowns ~~the~~due ~~lease~~to ~~term~~excess orand ~~the~~obsolete ~~estimated useful life of the respective asset~~inventory. ~~Management evaluates useful lives regularly in order to determine recoverability.~~

~~Maintenance~~Shipping and repairs are charged to expense as incurred; additions and betterments are capitalized. Upon retirement or sale, the cost and related accumulated depreciation of the disposed assets are removed, and any resulting gain or loss is recorded. Fully depreciated assets are not removed from the accounts until physical disposition.Handling

~~Intangible~~All ~~Assets~~amounts billed to customers relating to shipping and handling are reported as a component of sales. Costs incurred by the Company for shipping and handling, including transportation costs paid to third party shippers, are reported as a component of cost of sales.

~~Intangible~~Sales assets include intellectual property and trademarks. All trademarks are capitalized and amortized over the economic useful lives using the straight-line method. The Company assesses whether there has been a permanent impairment of the value of intangible assets by considering factors such as expected future product revenues, anticipated product demand and prospects, and other economic factors.Tax

~~F-7~~The Company collects sales tax in various jurisdictions. Upon collection from customers, it records the amount as a payable to the related jurisdiction. On a periodic basis, it files a sales tax return with the jurisdictions and remits the amount indicated on the return.

~~SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.~~Advertising

~~Notes~~Advertising costs are expensed as incurred. Total advertising expenses amounted to approximately $135,000 and $30,000 for the ~~Consolidated~~fiscal ~~Financial~~years ~~Statements~~ended February 28, 2019 and 2018, respectively, and recorded as selling, general and administrative expenses in the accompanying consolidated statements of operations.

~~NOTE~~Research ~~2: SIGNIFICANT~~and ~~ACCOUNTING POLICIES (CONTINUED)~~Development

~~Long-Lived~~Research ~~Assets~~and development costs are expensed as incurred and amounted to approximately $4,600 and $6,100 for the fiscal years ended February 28, 2019 and 2018, respectively. These costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations.

~~The carrying value of long~~F-lived assets, such as property and equipment, are evaluated when indicators of impairment are present. Impairment is assessed when the undiscounted future cash flows estimated to be generated by those assets are less than the assets' carrying amount. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. The Company recorded an impairment charge for certain intangible assets in the amount of $50,000 for the year ended February 28, 2017.8

~~Customer~~SEYCHELLE ~~Deposits~~ENVIRONMENTAL TECHNOLOGIES, INC.

~~Customer~~Notes ~~deposits~~to ~~represent~~the ~~advance~~Consolidated ~~payments received for products and are recognized as a liability.~~Financial Statements

~~Fair~~NOTE ~~Value~~2: SIGNIFICANT ofACCOUNTING ~~Financial Instruments~~POLICIES (CONTINUED)

~~For~~Stock-Based ~~certain financial instruments, including accounts receivable, accounts payable and accrued expenses, the carrying amounts approximate fair value due to their relatively short maturities.~~Compensation

~~Cost~~The Company follows FASB ASC Topic 718, Compensation – Stock Compensation, which establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods or services, primarily focusing on accounting for transactions where an entity obtains services in share based payment transactions. ASC 718 requires entities to measure the cost of ~~Sales~~services received in exchange for equity instruments, including restricted stock, based on the grant date fair value of the award and to recognize it as compensation expense over the period services are to be provided, usually the vesting period.

~~Cost~~The fair value of ~~sales~~options and warrants is ~~comprised~~calculated ~~primarily~~using the ofBlack-Scholes option-pricing model. This model was developed to estimate the ~~cost~~fair value of ~~purchased~~freely ~~product~~tradable, asfully ~~well~~transferable options aswithout ~~labor,~~vesting ~~inbound~~restrictions. ~~freight~~As ~~costs~~such, ~~allocated~~the ~~overhead~~values ~~costs~~derived ~~and~~from using that model can differ significantly from other ~~material~~methods of ~~costs~~valuing ~~required~~the toCompany's ~~complete~~stock ~~products,~~based compensation arrangements. The Black-Scholes model also requires subjective assumptions, including ~~inventory~~future ~~markdowns~~stock ~~due~~price volatility and expected time to ~~excess~~exercise, ~~and~~which ~~obsolete~~greatly ~~inventory~~affect the calculated values. These factors could change in the future, affecting the determination of stock based compensation expense in future periods.

~~Shipping~~Income ~~and Handling~~Taxes

~~All~~The ~~amounts~~Company ~~billed~~utilizes tothe ~~customers~~asset ~~relating~~and toliability method ~~shipping~~of accounting for income taxes. The asset and ~~handling~~liability ~~are~~method ~~reported~~require asthat athe ~~component~~current or deferred tax consequences of ~~sales.~~all ~~Costs~~events ~~incurred~~recognized byin the ~~Company~~consolidated ~~for~~financial ~~shipping~~statements ~~and~~be ~~handling,~~measured ~~including~~by ~~transportation~~applying ~~costs~~the ~~paid~~provisions of enacted tax laws to determine ~~third~~the ~~party~~amount ~~shippers,~~of taxes payable or refundable currently or in future years. Deferred tax assets are ~~reported~~reviewed asfor recoverability and the Company records a ~~component~~valuation ofallowance ~~cost~~to reduce its deferred tax assets when it is more likely than not that all or some portion of ~~sales~~the deferred tax assets will not be recovered.

~~Sales~~The ~~Tax~~Company also follows ASC 740-10-25, which provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise's financial statements in accordance with ASC 740, "Accounting for Income Taxes". ASC 740-10-25 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

~~The~~(Loss) ~~Company~~Income ~~collects~~Per ~~sales~~Common tax in various jurisdictions. Upon collection from customers, it records the amount as a payable to the related jurisdiction. On a periodic basis, it files a sales tax return with the jurisdictions and remits the amount indicated on the return.Share

~~Advertising~~ Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of outstanding common shares during each of the periods presented. Diluted net income per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, assuming the conversion, exercise, or issuance of all potential common stock equivalents unless the effect per share is antidilutive. If the inclusion of common stock equivalents in the weighted average number of common shares outstanding would be anti-dilutive these items would be omitted from the calculation of net (loss) income per common share. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method.

Advertising costs are expensed as incurred. Total advertising expenses amounted to approximately $30,000 and $2,300 for the fiscal years ended February 28, 2018 and February 28, 2017, respectively, and recorded as selling, general and administrative expenses in the accompanying consolidated statements of operations.F-9

~~Research~~SEYCHELLE ~~and~~ENVIRONMENTAL ~~Development~~TECHNOLOGIES, INC.

~~Research~~Notes ~~and development costs are expensed as incurred and amounted~~ to ~~approximately $6,100 and $1,200 for~~ the ~~fiscal~~Consolidated ~~years ended February 28, 2018 and February 28, 2017, respectively. These costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations.~~Financial Statements

~~F-8~~NOTE 2: SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

	For the year ended
	February 28,		February 28,
	2019		2018
Numerator:
Net (loss) income available to common shareholders	$	(240,127)	$	660,907
Weighted average shares – basic		26,574,313		26,574,313
Net (loss) income per share – basic	$	(0.01)	$	0.02

Dilutive effect of common stock equivalents:
Warrants		-		-
Weighted average shares – diluted		26,574,313		26,574,313
Net (loss) income per share – diluted	$	(0.01)	$	0.02

~~Notes~~For tothe year ended February 28, 2019 and 2018, 6,407,221 potential common shares issuable upon the ~~Consolidated~~exercise ~~Financial~~of ~~Statements~~outstanding warrants have been excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive since the warrants are not "in the money".

~~NOTE 2: SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~Concentrations

~~Stock~~The Company utilizes the services of two individuals, one of which is a related party and one of which is a third-~~Based~~party ~~Compensation~~in China to source materials and the manufacturing of component parts with third-party vendors in China. As of February 28, 2019 and 2018, the Company had deposits for inventory purchases in China of approximately $66,237 and $3,067, respectively.

~~The~~For ~~Company~~the ~~follows~~year ~~FASB~~ended ~~ASC~~February ~~Topic 718~~28, ~~Compensation – Stock Compensation~~2019, ~~which~~we ~~establishes~~had ~~standards~~two ~~for~~customers that ~~the~~accounted ~~accounting~~ for ~~transactions~~30% inand ~~which~~28% an(or ~~entity~~58%) ~~exchanges~~of ~~its~~our ~~equity~~total ~~instruments~~sales. As ~~for~~of ~~goods~~February or28, ~~services~~2018, ~~primarily~~we ~~focusing~~had onthree ~~accounting~~customers that accounted for ~~transactions~~33%, ~~where~~12% anand ~~entity~~11% ~~obtains~~(or ~~services~~56%) inof ~~share~~our ~~based~~total ~~payment transactions~~sales. One ~~ASC 718 requires entities to measure the cost~~ of ~~services~~these ~~received~~customers inaccounted ~~exchange~~ for ~~equity~~80% ~~instruments,~~and ~~including~~33% ~~restricted stock, based on the grant date fair value~~ of ~~the~~net ~~award~~accounts ~~and to recognize it~~ receivable as ~~compensation~~of ~~expense~~February ~~over~~28, ~~the~~2019 ~~period~~and ~~services are to be provided~~2018, ~~usually the vesting period~~respectively.

~~The fair value of options and warrants is calculated using the Black~~F-Scholes option-pricing model. This model was developed to estimate the fair value of freely tradable, fully transferable options without vesting restrictions. As such, the values derived from using that model can differ significantly from other methods of valuing the Company's stock based compensation arrangements. The Black-Scholes model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. These factors could change in the future, affecting the determination of stock based compensation expense in future periods.10

~~The~~SEYCHELLE ~~Company's~~ENVIRONMENTAL ~~fair value calculations for stock based compensation awards have been based on the following assumptions relates to year end February 28~~TECHNOLOGIES, ~~2018~~ INC.

Expected life in years	7
Stock price volatility	244%
Risk free interest rate	2.9%
Expected dividends	None

Notes to the Consolidated Financial Statements

~~The~~NOTE ~~assumptions used in the Black-Scholes model referred to above are based upon the following data~~2: SIGNIFICANT ~~(1)~~ACCOUNTING ~~The expected life of the option or warrant is estimated by considering the contractual term, the vesting period and the expected exercise date.~~ POLICIES (2CONTINUED) The expected stock price volatility of the underlying shares over the expected life is based upon historical share price data. (3) The risk free interest rate is based on published U.S. Treasury Department interest rates for the expected life. (4) Expected dividends are based on historical dividend data and expected future dividend activity.

~~Income~~Recent ~~Taxes~~Accounting Pronouncements

~~The~~In ~~Company~~May ~~utilizes~~2014, the ~~asset~~Financial ~~and~~Accounting Standards ~~liability~~Board ~~method~~("FASB") ofissued ~~accounting~~Accounting ~~for~~Standards ~~income~~Updated ~~taxes. The~~("ASU") ~~asset~~2014-09, ~~and~~Revenue ~~liability~~from ~~method~~Contracts ~~requires~~with ~~that~~Customers, issued ~~the~~as ~~current~~a ornew ~~deferred~~Topic, ~~tax~~ASC ~~consequences~~Topic 606 ("ASU 2014-09"). The new revenue recognition standard provides a give-step analysis of ~~all~~transactions ~~events~~to ~~recognized~~determine inwhen ~~the~~and ~~consolidated~~how ~~financial~~revenue ~~statements~~is berecognized. ~~measured~~The bypremise ~~applying~~of the ~~provisions~~standard ofis ~~enacted~~that ~~tax~~a ~~laws~~Company should recognize revenue to ~~determine~~depict the ~~amount~~transfer of ~~taxes~~promised ~~payable~~goods or ~~refundable~~services ~~currently~~to orcustomers in ~~future~~an ~~years.~~amount ~~Deferred~~that ~~tax~~reflects ~~assets~~the ~~are~~consideration ~~reviewed~~to ~~for~~which the ~~recoverability~~entity ~~and~~expects ~~the~~to ~~Company~~be ~~records~~entitled ain ~~valuation~~exchange ~~allowance~~for tothose ~~reduce~~goods ~~its~~or ~~deferred~~services. ~~tax~~ASU ~~assets~~2014-09 ~~when~~can itbe isadopted ~~more~~by ~~likely~~the ~~than~~Company ~~not~~either ~~that~~retrospectively or ~~all~~as ora ~~some~~cumulative-effect ~~portion~~adjustment as of the ~~deferred~~date ~~tax~~of ~~assets will not be recovered~~adoption.

The Company ~~also~~has ~~follows~~adopted ~~ASC~~the ~~740-10-25,~~guidance ~~which~~beginning ~~provides~~in ~~detailed~~fiscal 2019 ~~guidance~~using ~~for~~ the ~~financial~~modified ~~statement~~retrospective ~~recognition,~~approach. ~~measurement~~The ~~and~~impact ~~disclosure~~ of ~~uncertain~~adopting ~~tax~~the ~~positions~~standard ~~recognized~~on inour anconsolidated ~~enterprise's~~ financial statements ~~in accordance with ASC 740, "Accounting for Income Taxes". ASC 740-10-25 prescribes a recognition threshold~~ and related ~~measurement~~disclosures ~~attribute~~was ~~for~~not ~~the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return~~material. ~~It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.~~

~~Income~~In February 2016, the FASB issued ASU 2016-02, "Leases (~~Loss~~Topic 842)," ~~Per~~which ~~Common~~will ~~Share~~require lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the potential impact this standard will have on its consolidated financial statements and related disclosures.

Management ~~Basic~~does ~~net~~not ~~income~~believe ~~(loss) per~~any ~~common~~other recently ~~share~~issued isbut ~~computed~~not byyet ~~dividing~~effective ~~net~~accounting ~~(loss)~~pronouncements, ~~income~~if by the weighted average number of outstanding common shares during each of the periods presented. Diluted net income per common share is determined using the weighted-average number of common shares outstanding during the periodadopted, ~~adjusted~~would ~~for~~have ~~the~~a ~~dilutive~~material effect ofon ~~common stock equivalents, assuming~~ the ~~conversion,~~Company's ~~exercise,~~ present or ~~issuance~~future ofconsolidated ~~all~~financial ~~potential common stock equivalents unless the effect is to reduce a loss or increase the income per share~~statements. If the inclusion of common stock equivalents in the weighted average number of common shares outstanding would be anti-dilutive these items would be omitted from the calculation of net income (loss) per common share. The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method.

~~F-9~~NOTE 3: INVENTORY

~~SEYCHELLE~~The ~~ENVIRONMENTAL~~Company's ~~TECHNOLOGIES,~~inventory ~~INC.~~consisted of the following:

Notes to the Consolidated Financial Statements

	February 28, 2019		February, 28 2018
Raw materials	$	382,658	$	860,424
Finished goods		589,839		137,872
Net inventory	$	972,497	$	998,296

~~NOTE 2: SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~F-11

	For the year ended
	February 28,		February 28,
	2018		2017
Numerator:
Net income (loss) available to common shareholders	$	660,907	$	(2,147,224	)
Weighted average shares – basic		26,574,313		26,574,313
Net income (loss) per share – basic	$	0.02	$	(0.08	)
Dilutive effect of common stock equivalents:
Warrants		-		-
Weighted average shares – diluted		26,574,313		26,574,313
Net income (loss) per share – diluted	$	0.02	$	(0.08	)

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

~~For~~Notes ~~the~~to ~~year ended February 28, 2018 and 2017, 6,407,221 potential common shares issuable upon~~ the ~~exercise~~Consolidated ~~of outstanding warrants have been excluded from the computation of diluted earnings per share because their inclusion would be anti-dilutive since the warrants are not "in the money" price.~~Financial Statements

~~Concentrations~~NOTE 4: PROPERTY AND EQUIPMENT

The Company utilizes the services of two individuals, one of which is a related party and one of which is third-party, in China to source materials and the manufacturing of component parts with third-party vendors in China. As of February 28, 2018 and February 28, 2017, the Company had deposits for inventory purchases in China of approximately $8,067 and $3,000, respectively.

The following is a summary of property and equipment:

	February 28,				February 28,
	2019				2018
Tooling		$	424,578			$	408,453
Equipment			84,647				63,117
Computer equipment			63,520				63,520
			572,745				535,090
Less: accumulated depreciation and amortization			(454,591	)			(399,551	)
Total		$	118,154			$	135,539

~~For~~Fixed ~~the~~assets ~~year~~outside ~~ended~~the ~~February~~United ~~28,~~States included ~~2018~~$367,123 weand ~~had~~$350,998 3in ~~customers~~tooling ~~that~~and ~~accounted~~equipment, ~~for~~at ~~33%~~cost, ~~12%~~located ~~and~~in ~~11%~~various ~~(or~~third ~~56%). As~~party oflocations ~~February~~which manufacture ~~28,~~the ~~2017~~Company's wecomponent ~~had~~parts ~~three~~at ~~customer~~February ~~that accounted for 36%~~28, 9%2019 and 8%February ~~(or~~28, ~~53%)~~2018, ofrespectively. ~~our~~Depreciation ~~total~~expense ~~sales. One~~included in ofoperating ~~these~~expenses ~~customers~~were ~~accounted~~$55,040 ~~for~~and ~~33%~~$60,232 ~~and~~for ~~68%~~the asfiscal ofyears ended February 28, ~~2018~~2019 and ~~February 28~~2018, ~~2017 of net accounts receivable~~respectively.

~~F-10~~NOTE 5: CAPITAL LEASE OBLIGATIONS

~~SEYCHELLE~~The ~~ENVIRONMENTAL~~Company ~~TECHNOLOGIES~~leases certain equipment under leases classified as capital leases. The leased equipment carried a cost of $26,000 ~~INC~~as of February 28, 2019 and 2018 and is depreciated on a straight-line basis over 5 years. Total accumulated depreciation related to the leased equipment was $13,000 as of February 28, 2019 and 2018. Obligations outstanding consisted of the following:

Notes to the Consolidated Financial Statements

	February 28, 2019			February 28, 2018
Capital lease for equipment requiring monthly payments of principal and Interest of $546 through August 2020 bearing interest at an annual rate of 9.5%	$	10,266		$	16,914
Total capital lease obligations, principal and interest		10,266			16,914
Less amount representing interest		(1,146	)		(2,430	)
Total capital lease obligations, principal		9,120			14,484
Less current portion		(5,938	)		(5,402	)
Long term portion	$	3,182		$	9,082

~~NOTE~~Future ~~2: SIGNIFICANT~~maturities ~~ACCOUNTING~~of ~~POLICIES~~the ~~(CONTINUED)~~capital lease obligation as of February 28, 2019 are:

Recent Accounting Pronouncements

Fiscal Year Ending
February 28,	Amount

2020	$	5,938
2021		3,182
Total	$	9,120

InNOTE ~~May~~6: RELATED ~~2014,~~PARTY the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updated ("ASU") 2014-09, Revenue from Contracts with Customers, issued as a new Topic, ASC Topic 606 ("ASU 2014-09"). The new revenue recognition standard provides a give-step analysis of transactions to determine when and how revenue is recognized. The premise of the standard is that a Company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 can be adopted by the Company either retrospectively or as a cumulative-effect adjustment as of the date of adoption.TRANSACTIONS

~~The~~During ~~Company has elected to adopt~~ the ~~guidance beginning in~~ fiscal ~~2019~~year ~~using~~ended February ~~the~~28, ~~modified~~2018, ~~retrospective~~TAM ~~approach.~~Trust ~~The~~purchased, ~~Company~~on isbehalf ~~performing as assessment~~ of the ~~impact of adoption of this guidance~~Company, ~~including~~approximately ~~required disclosures with assistance from an outside subject matter expert. Although its evaluation is not yet finalized~~$132,000 ~~management believes that the impact~~ of ~~adopting~~raw ~~the~~materials ~~standard~~from ona ~~our~~vendor ~~consolidated~~with ~~financial~~which it ~~statements~~already ~~and~~had ~~related~~a ~~disclosures~~business ~~will not be material~~relationship.

InThe ~~February~~Company ~~2016,~~paid ~~the~~commission ~~FASB issued ASU 2016-02, "Leases (Topic 842)," which will require lessees~~ to ~~recognize~~a ~~almost~~related party ~~all~~for ~~leases~~sourcing onraw ~~their~~materials ~~balance~~with ~~sheet as a right~~third-~~of-use~~party ~~asset~~vendors ~~and~~in ~~a lease liability~~China. ~~For~~The ~~income~~Company ~~statement~~paid ~~purposes~~approximately $47,000 ~~the~~and ~~FASB retained a dual model~~$63,000 ~~requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied~~ in ~~current~~direct commissions ~~lease accounting, but without explicit bright lines. Lessor accounting is similar~~ to the ~~current~~related ~~model,~~party ~~but~~during ~~updated to align with certain changes to~~ the ~~lessee model and the new revenue recognition standard. This ASU is effective for~~ fiscal years ~~beginning~~ended ~~after~~February ~~December 15~~28, ~~2018,~~2019 ~~including interim periods within those fiscal years. The Company is currently evaluating the potential impact this standard will have on its consolidated financial statements~~ and ~~related~~2018, ~~disclosures~~respectively.

~~Management~~The ~~does~~Company ~~not~~had ~~believe~~advanced ~~any~~amounts ~~other~~to employees ~~recently~~of ~~issued~~approximately ~~but~~$26,000 ~~not~~and ~~yet~~$28,600 ~~effective~~as ~~accounting~~of ~~pronouncements,~~February ~~if adopted~~28, ~~would~~2019 ~~have~~and a2018, ~~material~~respectively. ~~effect~~These onamounts ~~the~~are ~~Company's~~being ~~present~~repaid orthrough direct ~~future~~payroll ~~consolidated financial statements~~withdrawals.

~~NOTE~~The ~~3: INVENTORY~~Company had receivables from stockholders of approximately $5,000 and $6,000 as of February 28, 2019 and 2018, respectively.

The Company's ~~inventory~~had ~~consisted~~sales to two companies related to a member of the ~~following~~Board atof Directors. Specifically, the two companies were Sovereign Earth, LLC and Amazon Seychelle. Sales to Sovereign Earth, LLC (dba Revolve) were $899,000 and $636,000 for the fiscal years ended February 28, 2019 and 2018, respectively and ~~February~~sales to 28Amazon Seychelle totaled $165,000 ~~2017:~~and $24,000 for 2019 and 2018 respectively. Pursuant to the agreement with the Company, Sovereign Earth, LLC is the sole and exclusive seller of the certain Seychelle products in specified Amazon world markets.

	February 28, 2018		February, 28 2017
Raw materials	$	860,424	$	1,059,482
Finished goods		137,872		362,389
Net inventory	$	998,296	$	421,871

F-12

~~F-11~~SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

~~SEYCHELLE~~Notes ~~ENVIRONMENTAL~~to ~~TECHNOLOGIES,~~the ~~INC.~~Consolidated Financial Statements

~~Notes~~NOTE to7: EQUITY ~~the Consolidated Financial Statements~~TRANSACTIONS

~~NOTE~~Restricted ~~4: PROPERTY~~Stock ~~AND EQUIPMENT~~Grants

The following is a summary of property and equipment at February 28, 2018 and February 28, 2017:
	February 28,				February 28,
	2018				2017
Tooling		$	408,453			$	380,529
Equipment			63,117				60,268
Computer equipment			63,520				63,520
Leasehold equipment			-				-
			535,090				504,317
Less: accumulated depreciation and amortization			(399,551	)			(339,320	)
Total		$	135,539			$	164,997

None

Fixed assets outside the United States included approximately $350,998 and $330,000 in tooling and equipment, at cost, located in various third party locations which manufacture the Company's component parts at February 28, 2018 and February 28, 2017, respectively. Depreciation expense included in operating expenses were $60,232 and $79,434 for the fiscal years ended February 28, 2018 and February 28, 2017, respectively.Warrants

~~NOTE~~A ~~5: INTANGIBLE~~summary ~~ASSETS~~of warrant activity for the fiscal years ended February 28, 2019 and February 28, 2018 is shown below.

The following is a summary of intangible assets at February 28, 2018 and February 28, 2017:

			Weighted-
			Average
	Warrants		Exercise
	Outstanding		Price

Outstanding at March 1, 2017		6,407,221		0.21
Granted		-		-
Exercised		-		-
Outstanding at February 28, 2018		6,407,221		0.21
Granted		-		-
Exercised		-		-
Outstanding at February 28, 2019		6,407,221		0.21
Vested at February 28, 2019		6,407,221		0.21
Exercisable at February 28, 2019		6,407,221		0.21

	February 28,			February 28,
	2018			2017
Intellectual property	$	-		$	-
Trademarks		24,100			24,100
Patents		22,560			22,560
		46,660			46,660
Less: accumulated amortization		(46,660	)		(46,660	)
Total	$	-		$	-

The following table summarizes significant ranges of outstanding warrants as of February 28, 2019:

Intangible assets are amortized over their estimated useful economic lives of five years. Amortization expense related to intangibles was approximately $0 and $1,100 during the fiscal years ended February 28, 2018 and February 28, 2017, respectively. During the year ended February 28, 2017, the Company identified that revenue related to the one specific product for this patent did not materialize and recorded an impairment charge in the amount of $50,000.

		Warrants Outstanding						Warrants Exercisable
				Weighted		Weighted				Weighted
				Average		Average				Average
				Remaining		Exercise		Number		Exercise
Exercise Price		Number		Life (Years)		Price		Outstanding		Price

	$0.21		6,407,221		1.79		$0.21		6,407,221		$0.21

WeAs ~~previously~~of ~~held~~February ~~two patents~~28, ~~which~~2019 ~~have~~and ~~expired. The~~2018 ~~first patent was for~~ the ~~portable~~total ~~water~~outstanding ~~filtration~~warrants had ~~system~~an ~~with~~intrinsic ~~the~~value ~~filter~~of ~~cap assembly~~$0. ~~The second patent was for a quick connect diverter valve. We currently hold no patents.~~

F-1213

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

Notes to the Consolidated Financial Statements

NOTE 68: ~~CAPITAL~~ INCOME ~~LEASE OBLIGATIONS~~TAXES

~~The~~Income ~~Company~~tax ~~leases~~expense ~~certain~~(benefit) ~~equipment~~consists ~~under leases classified as capital leases. The leased equipment carried a cost~~ of ~~$26,000 and $26,000 as of February 28, 2018 and February 28, 2017, and is depreciated on a straight-line basis over 5 years. Total accumulated depreciation related to~~ the ~~leased equipment was $13,000 and $7,800 as of February 28, 2018 and February 28, 2017, respectively. Obligations outstanding as of February 28, 2018 and February 28, 2017 consisted of the~~ following:

		February 28, 2018			February 28, 2017
	Current			Deferred			Total
Capital lease for equipment requiring monthly payments of principal and Interest of $546 through August 2020 bearing interest at an annual rate of 9.5%		16,914			22,918
Year ended February 28, 2019:
Total capital lease obligations, principal and interest		16,914			22,918
U.S. federal	$	-			-			-
Less amount representing interest		(2,430	)		(4,127	)
State		-			-			-
Total capital lease obligations, principal		14,484			18,791
Total income tax expense (benefit)	$	-			-			-
Less current portion		(5,402	)		(4,047	)
Year ended February 28 2018:
Long term portion	$	9,802		$	14,744
U.S. federal	$	(2,970	)		-			(2,970)
State		9,667			-			9,667
Total income tax expense	$	6,697			-			6,697

~~Future~~The ~~maturities~~income oftax expense (benefit) differs from the ~~capital~~expected ~~lease~~amount ~~obligation~~of asincome tax expense (benefit) determined by applying a combined U.S. federal and state income tax rate of 27% to pretax (loss) income for the years ended February 28, 2019 and 2018 ~~are~~as follows:

Fiscal Year Ending
	2019			2018
February 28,	Amount
Expected tax (benefit) provision	$	(50,427	)	$	212,520
2019		5,402
State Income tax (benefit) provision		(13,082	)		40,088
2020		5,938
Other		(838	)		28,468
2021		3,144
Change in tax rate		-			282,408
Total	$	14,484
Permanent differences		930			1,215
Change in valuation allowance		63,417			(558,002	)
Income tax provision	$	-		$	6,697

~~NOTE~~Deferred ~~7: RELATED~~tax ~~PARTY~~assets ~~TRANSACTIONS~~are as follows:

The Company paid consulting fees to the Company's primary shareholder (the TAM Irrevocable Trust ("TAM Trust"), in which Cari Beck is the trustee and current Board member, as well as a daughter of Carl Palmer, an officer and Board member) totaling $0 and $37,350 during the years ended February 28, 2018 and February 28, 2017, respectively, which are included as a component of selling, general and administrative expenses on the consolidated statements of operations.

	February 28, 2019			February 28, 2018
Deferred tax assets:
NOL carryforwards	$	231,649		$	158,318
Depreciation		(15,715	)		(23,600	)
Reserves and accrued expenses		48,674			70,171
Stock compensation		-			-
Other		410,316			406,293
Valuation allowance		(674,924	)		(611,182	)
Net deferred tax assets	$	-		$	-

During the years ended February 28, 2018 and February 28, 2017, TAM Trust purchased, on behalf of the Company, approximately $132,000 and $77,000, respectively, of raw materials from a vendor with which it already had a business relationship.F-14

~~The~~SEYCHELLE ~~Company~~ENVIRONMENTAL ~~paid commission to Carl Palmer's brother-in-law for sourcing raw materials with third-party vendors in China. The Company paid approximately $63~~TECHNOLOGIES,~~000 and $18,000 in direct commissions to the related party during the fiscal years ended February 28, 2018 and February 28, 2017, respectively~~ INC.

~~The~~Notes ~~Company had advanced amounts~~ to ~~employees~~the ofConsolidated ~~approximately $28,600 and $27,200 as of February 28, 2018 and February 28, 2017. These amounts are being repaid through direct payroll withdrawals.~~Financial Statements

~~The~~NOTE ~~Company~~8: INCOME ~~had receivable from stockholders of approximately $6,000 and $0 as of February 28,2018 and February 28, 2017, respectively.~~TAXES (CONTINUED)

~~The~~Tax ~~Company~~Cuts ~~had sales to two companies related to a member of the Board of Directors. Specifically, sales to Sovereign Earth, LLC (dba Revolve) totaled approximately $636,000~~ and ~~$265,000~~Jobs for fiscal years February 28, 2018 and February 28, 2017, respectively and sales to Amazon Seychelle totaled approximately $24,000 and $0 for fiscal years February 28, 2018 and February 28, 2017, respectively. Sovereign Earth, LLC (dba Revolve) shall be the sole and exclusive seller of the following products in worldwide markets, including Amazon World Marketplaces: amazon.com, amazon.co uk, amazon.de, amazon.fr, amazon.jp, amazon, it, amazon.ca, amazon.cn, amazon.in, and amazon.com.mx for the duration of the agreement: Generation#1 Filter Pitcher: All filter iterations (regular, standard, advanced, radiological, extreme, supreme, etc.)Act

~~F-13~~On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "TCJA"). The TCJA makes broad and complex changes to the U.S. tax code, including, but not limited to, reducing the U.S. statutory corporate income tax rate from 35 percent to 21 percent, effective January 1, 2018. U.S. GAAP requires that deferred income tax assets and liabilities be remeasured at the income tax rate expected to apply when those temporary differences reverse, and that the effects of any change to such income tax rate be recognized in the period when the change was enacted.

~~SEYCHELLE~~In ~~ENVIRONMENTAL~~connection ~~TECHNOLOGIES~~with the Company's initial analysis of the impact of the TCJA, ~~INC~~the Company recorded a discrete net tax expense of $282,408 in the year ended February 28, 2018. This net expense is primarily due to the remeasurement of the Company's existing deferred tax assets and liabilities. Due to the Company having a full valuation allowance related to their deferred taxes, the $282,408 discrete tax expense associated with the remeasurement was equally offset by the valuation allowance causing an overall net zero impact on the Company's current tax rate.

~~Notes~~The SEC staff issued Staff Accounting Bulletin No. 118 ("SAB 118"), which provides guidance on accounting for the tax effects of the TCJA. SAB 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the ~~Consolidated~~accounting ~~Financial~~under ~~Statements~~ASC 740. To the extent that a company's accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements.

~~NOTE~~The ~~8: EQUITY~~valuation ~~TRANSACTIONS~~allowance for deferred tax assets as of February 28, 2019 and 2018, $674,924 and $611,182, respectively. The net change in the total valuation allowance was an increase of $63,417 and $558,002 for the years ended February 28, 2019 and 2018, respectively. In assessing the realization of deferred tax assets, management considers whether it is more-likely-than-notthat some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning strategies in making this assessment. It was determined that it was more likely than not that a full valuation allowance was necessary as of February 28, 2019.

~~Restricted~~At ~~Stock~~February 28, ~~Grants~~2019, the Company had unused net operating loss carryovers of approximately $770,000 and $1,198,000 for federal and state tax purposes, respectively, which expire beginning in 2038. Note that any federal net operating loss carryovers from 2018 have an indefinite carryforward period. This was part of the legislation passed as part of the TCJA.

~~During~~The ~~the~~Company ~~year~~includes ~~ended~~interest ~~February~~and 28penalties, if ~~2017~~any, ~~250,000~~arising ~~shares~~from the underpayment of ~~fully~~income ~~vested~~taxes ~~restricted~~in ~~common~~the ~~stock~~consolidated ~~were~~statements ~~issued~~of byoperations in the provision for income taxes. As of February 28, 2019 the Company had no accrued interest or penalties related to anuncertain ~~employee~~tax positions. The ~~shares~~tax ~~were~~years that ~~valued~~remain atsubject ~~the~~to ~~closing~~examination ~~price~~by ofmajor ~~the~~taxing ~~Company's~~jurisdictions ~~common~~are ~~stock~~fiscal atyears ~~the~~2015 ~~date~~through of2018 ~~the~~for ~~grant~~federal ~~for~~purposes aand ~~total~~fiscal years ~~expense~~2014 ofthrough ~~$117,500~~2018 for state purposes.

~~During~~NOTE ~~the~~9: COMMITMENTS ~~year~~AND ended February 28, 2017, the Company repurchased 30,000 shares of common stock at a cost of $17,400. This repurchase has been recorded as treasury stock and reflected as a reduction of stockholders' equity.CONTINGENCIES

~~Warrants~~The Company entered into a lease agreement on one facility for its corporate offices, inventory and production at 22 Journey in Aliso Viejo, CA for a term of 5 years at a monthly rental of approximately $19,000, and such amounts are included in the table below.

AFuture ~~summary~~minimum ofbase ~~warrant~~lease ~~activity~~payments ~~for~~are ~~the~~as ~~fiscal years ended February 28, 2018 and February 28, 2017 is shown below.~~follows:

						Weighted-
Fiscal Year Ending
						Average
February 28,				Amount
		Warrants				Exercise
	2020			$	253,908
		Outstanding				Price
	2021				259,000
Outstanding at March 1, 2016			6,407,221				0.21
	2022				109,000
Granted			-				-
	Total			$	621,908
Exercised			-				-
Forfeited			-				-
Outstanding at February 28, 2017			6,407,221				0.21
Granted			-				-
Exercised			-				-
Outstanding at February 28, 2018			6,407,221				0.21
Vested at February 28, 2018			6,407,221				0.21
Exercisable at February 28, 2018			6,407,221				0.21

~~The following table summarizes significant ranges of outstanding warrants as of February 28, 2018:~~F-15

		Warrants Outstanding						Warrants Exercisable
				Weighted		Weighted				Weighted
				Average		Average				Average
				Remaining		Exercise		Number		Exercise
Exercise Price		Number		Life (Years)		Price		Outstanding		Price
	$0.21		6,407,221		2.79		$0.21		6,407,221		$0.21

SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

AsNotes ofto ~~February 28, 2018 and February 28, 2017~~ the ~~total~~Consolidated ~~outstanding warrants had an intrinsic value of $0.~~Financial Statements

~~F-14~~NOTE 9: COMMITMENTS AND CONTINGENCIES (CONTINUED)

~~SEYCHELLE~~Legal ~~ENVIRONMENTAL TECHNOLOGIES, INC.~~Proceedings

~~Notes~~There is a pending legal action named Rolling Tides, LLC vs. Carl Palmer, Seychelle Environmental Technologies, Inc., and other defendants. The case was brought in the Superior Court of the State of California, County of Orange. The action alleges certain fraudulent transfers occurred from Seychelle to the ~~Consolidated~~various ~~Financial~~defendants. The ~~Statements~~plaintiffs have refused to identify any such transfers by date or amount. The matter is in discovery and trial is set for August, 2019. All the defendants have denied the allegations of the complaint, and are vigorously defending the matter. It is not likely that the case will be settled without trial. The Company believes that the case has no merit.

~~NOTE 9: INCOME TAXES~~Licenses

~~Income~~The ~~tax~~Company ~~expense~~has ~~(benefit)~~historically ~~consists~~entered into licensing agreements with third-parties for product proprietary rights, patent and trademark ownership, and use of product name. In return, the ~~following:~~Company agrees to pay licensing fees and/or royalties on sales of those products. During the fiscal years ended February 28, 2019 and 2018, the Company paid $13,296 and $22,651, respectively, in royalties and licensing fees under these agreements.

	Current			Deferred		Total
Year ended February 28, 2018:
U.S. federal	$	(2,970	)		-		(2,970	)
State		9,667			-		9,667
Total income tax expense (benefit)	$	6,697			-		6,697
Year ended February 28 2017:
U.S. federal	$	(261,967	)		501,492		239,525
State		(25,884	)		88,498		62,614
Total income tax expense	$	(287,851	)		589,990		302,139

NOTE 10: GEOGRAPHIC AREAS

The ~~income~~Company sells ~~tax~~its ~~expense~~products ~~(benefit)~~throughout ~~differs from~~ the ~~expected~~United ~~amount~~States ofand ~~income tax expense (benefit) determined by applying a combined U~~internationally.S. ~~federal~~Geographic ~~and~~sales ~~state~~information ~~income tax rate of 40% to pretax income (loss)~~ for the fiscal years ended February 28, ~~2018~~2019 and ~~February~~2018 ~~28,~~is ~~2017~~ as follows:

	2018			2017
	2019			2018
Expected tax (benefit) provision	$	212,520		$	(627,328	)
United States	$	3,129,556		$	5,130,357
State Income tax (benefit) provision		40,088			(105,566	)
Asia		-			105,568
Other		28,468			(46,965	)
United Kingdom		20,806			-
Change in tax rate		282,408			-
Canada		2,467			40,291
Permanent differences		1,215			-
Other countries		600			3,161
Change in valuation allowance		(558,002	)		1,081,998
Total	$	3,153,429		$	5,279,377
Income tax provision	$	6,697		$	302,139

~~Deferred tax assets are as follows:~~_____________

	February 28,			February 28,
	2018			2017
Deferred tax assets:
NOL carryforwards	$	158,318		$	379,326
Depreciation		(23,600	)		(80,545	)
Reserves and accrued expenses		70,171			202,471
Stock compensation		-			645,673
Other		406,293			75,728
Valuation allowance		(611,182	)		(1,222,653	)
Net deferred tax assets	$	-		$	-

(1) Sales are based on the country of residence of the customer.

~~Tax~~Long ~~Cuts~~lived and Jobs Act On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "TCJA"). The TCJA makes broad and complex changes to the U.S. tax code, including, but not limited to, reducing the U.S. statutory corporate income tax rate from 35 percent to 21 percent, effective January 1, 2018. U.S. GAAP requires that deferred income tax assets ~~and liabilities be remeasured~~ at ~~the~~February ~~income tax rate expected to apply when those temporary differences reverse~~28, ~~and~~2019 are ~~that the effects of any change to such income tax rate be recognized~~ in the ~~period~~following ~~when~~geographic ~~the change was enacted.~~areas:

F-15

	United States		China		Total

Property and equipment, net	$	57,167	$	60,987	$	118,154

Other assets		66,670		-		66,670

Total	$	123,837	$	60,987	$	184,824

~~SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.~~F-16

~~Notes~~SEYCHELLE toENVIRONMENTAL ~~the Consolidated Financial Statements~~TECHNOLOGIES, INC.

~~NOTE~~Notes ~~9: INCOME~~to ~~TAXES~~the ~~(CONTINUED)~~Consolidated Financial Statements

~~Tax~~NOTE ~~Cuts~~10: GEOGRAPHIC ~~and~~AREAS ~~Jobs Act On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act~~ (~~the "TCJA"~~CONTINUED). The TCJA makes broad and complex changes to the U.S. tax code, including, but not limited to, reducing the U.S. statutory corporate income tax rate from 35 percent to 21 percent, effective January 1, 2018. U.S. GAAP requires that deferred income tax assets and liabilities be remeasured at the income tax rate expected to apply when those temporary differences reverse, and that the effects of any change to such income tax rate be recognized in the period when the change was enacted.

InLong ~~connection~~lived ~~with~~assets ~~the~~at ~~Company's initial analysis of the impact of the TCJA, the Company recorded a discrete net tax expense of $282,408 in the year ended~~ February 28, 2018. are ~~This~~in ~~net expense is primarily due to~~ the ~~remeasurement~~following ofgeographic the Company's existing deferred tax assets and liabilities. Due to the Company having a full valuation allowance related to their deferred taxes, the $282,408 discrete tax expense associated with the remeasurement is equally offset by the valuation allowance causing an overall net zero impact on the Company's current tax rate.areas:

The SEC staff issued Staff Accounting Bulletin No. 118 ("SAB 118"), which provides guidance on accounting for the tax effects of the TCJA. SAB 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the accounting under ASC 740. To the extent that a company's accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. We recorded the effects of the TCJA for year ended February 28, 2018 using our best estimates and the information available to us through the date the financial statements were issued. However, our analysis is ongoing and as such, the income tax effects that we have recorded are provisional.

	United States		China		Total

Property and equipment, net	$	57,264	$	78,275	$	135,539

Other assets		66,670		-		66,670

Total	$	123,934	$	78,275	$	202,209

~~The~~NOTE ~~valuation~~11: SUBSEQUENT allowance for deferred tax assets as of February 28, 2018 and February 28, 2017 $611,182 and $1,222,653, respectively. The net change in the total valuation allowance was an increase of $558,002 and $1,081,998 for the years ended February 28, 2018 and February 28, 2017, respectively. In assessing the realization of deferred tax assets, management considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning strategies in making this assessment. It was determined that it was more likely than not that a full valuation allowance was necessary as of February 28, 2018.EVENTS

AtManagement has evaluated events subsequent to February 28, ~~2018,~~2019 through the ~~Company~~date ~~had~~the ~~unused~~accompanying ~~net~~consolidated ~~operating~~financial ~~loss~~statements ~~carryovers~~were filed ofwith ~~approximately~~the ~~$496,000~~Securities and ~~$927~~Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements. Based on its review,~~000~~ except for ~~federal~~the following, no material events were identified that require adjustment to the financial statements. Effective March 8, 2019, Mr. Carl Palmer resigned from his position as President, Treasurer, CEO and ~~state~~CFO ~~tax~~but ~~purposes~~remains as a Board Member. At that date, ~~respectively~~Mrs. Cari Beck became the President, ~~which~~CEO, ~~expires~~CFO, ~~beginning~~Treasurer inand ~~2037~~HR Manager. Ms. Lena Smith becaame the Secretary of Seychelle.

The Company includes interest and penalties, if any, arising from the underpayment of income taxes in the consolidated statements of operations in the provision for income taxes. As of February 28, 2018 the Company had no accrued interest or penalties related to uncertain tax positions. The tax years that remain subject to examination by major taxing jurisdictions are fiscal years 2014 through 2017 for federal purposes and fiscal years 2013 through 2017 for state purposes.F-17

~~NOTE~~ITEM ~~10: COMMITMENTS~~9. CHANGES IN AND ~~CONTINGENCIES~~DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES

~~The~~We ~~Company~~did ~~entered~~not ~~into~~have aany ~~lease~~disagreements ~~agreement~~ on ~~one~~accounting ~~facility for its corporate offices, inventory~~ and ~~production~~financial disclosures atwith 22our ~~Journey~~present inindependent ~~Aliso~~registered ~~Viejo,~~public CAaccounting ~~for~~firm aduring ~~term of 5 years at a monthly rental of approximately $19,000, and such amounts are included in~~ the ~~table~~reporting ~~below~~periods.

~~Future~~ITEM ~~minimum~~9A. ~~base~~CONTROLS ~~lease~~AND ~~payments are as follows:~~PROCEDURES

Fiscal Year Ending
February 28,	Amount
2019	$	246,908
2020		253,908
2021		259,000
2022		109,000
Total	$	868,816

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that we file with the SEC under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms and that such information is accumulated and communicated to our management, including our principal executive and financial officers, as appropriate, to allow for timely decisions regarding required disclosure. As required by Rule 15d-15(b) of the Exchange Act, we carried out an evaluation, under the supervision and with the participation of our management, including our principal executive and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this report. Based on the foregoing, our principal executive and principal financial officer concluded that our disclosure controls and procedures are not effective to ensure the information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed and reported within the time periods specified in the SEC's rules and forms.

~~F-16~~Management's Annual Report on Internal Control over Financial Reporting

~~SEYCHELLE~~The ~~ENVIRONMENTAL~~management ~~TECHNOLOGIES~~of the Company is responsible for establishing and maintaining adequate internal control over financial reporting, ~~INC~~as such term is defined in Rule 13a-15(f) under the Exchange Act. The Company's internal control over financial reporting is a process designed under the supervision of the Company's Chief Executive Officer and Principal Financial Officer to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America (US GAAP) and includes those policies and procedures that:

~~Notes~~● pertain to the ~~Consolidated~~maintenance ~~Financial~~of ~~Statements~~records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets; ● provide reasonable assurance that the transactions are recorded as necessary to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; ● provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements;

~~NOTE~~Internal ~~10: COMMITMENTS~~control ~~AND~~over ~~CONTINGENCIES~~financial ~~(CONTINUED)~~reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.

~~Legal~~Management ~~Proceedings~~has used the framework set forth in the report entitled Internal Control-Integrated Framework (2013) published by the Committee of Sponsoring Organizations of the Treadway Commission, known as COSO, to evaluate the effectiveness of our internal control over financial reporting. Based on this assessment, management has concluded that our internal control over financial reporting was not effective as of February 28, 2019.

~~The~~A ~~Company~~material ~~was~~weakness ~~involved~~is ina ~~litigation~~deficiency, or ~~legal~~combination ~~proceedings as~~ of ~~February 28~~deficiencies, that ~~2018. On~~results ~~March 27, 2017, the Company received a Notice of Filing of Discrimination complaint~~ in ~~the~~more ~~Superior~~than ~~Court of the State of California, County of Orange by~~ a ~~former~~remote ~~employee. The~~likelihood ~~Company~~that ~~also received on June 5, 2017,~~ a ~~Request~~material ~~for~~misstatement ~~Entry~~ of ~~Default~~annual ~~filed~~or tointerim ~~Superior~~financial ~~Court~~statements ofwill ~~California,~~not ~~County~~be prevented ofor ~~Orange by the same employee~~detected. ~~The~~In ~~matter~~connection iswith ~~currently~~the ~~set~~assessment ~~for~~described ~~trial on June 25~~above, ~~2018. The.case~~management isidentified in the ~~discovery~~following ~~phase. The~~control ~~Company believes~~ deficiencies that ~~the~~represent ~~complaint~~material isweaknesses ~~completely~~at ~~without~~February ~~merit~~28, ~~and plan to vigorously contest the matter.~~2019:

Another pending action is Rolling Tides, LLC vs. Carl Palmer, Seychelle Environmental Technologies, Inc., and other defendants. The case was brought in the Superior Court of the State of California, County of Orange. The action alleges certain fraudulent transfers occurred from Seychelle to the various defendants. The plaintiffs have refused to identify any such transfers by date or amount. The matter is in early discovery and no trial date is set. All the defendants have denied the allegations of the complaint , and are vigorously defending the matter. It is not likely that the case will be settled without trial. The Company believes that the case has no merit.15

Licenses

(1)	lack of a functioning audit committee and lack of any outside directors on the Company's Board of Directors capable to oversee the audit function;

(2)	inadequate segregation of duties due to limited number of personnel, which makes the reporting process susceptible to management override;

(3)	insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of GAAP and SEC disclosure requirements;

(4)	ineffective controls over period end financial disclosure and reporting processes;

~~The~~Management ~~Company~~believes ~~has~~that ~~historically~~the ~~entered~~material weaknesses ~~into~~set ~~licensing~~forth ~~agreements~~in ~~with~~items ~~third-parties~~(1) ~~for~~through ~~product~~(4) ~~proprietary~~above ~~rights,~~did ~~patent~~not ~~and~~have ~~trademark~~an ~~ownership,~~effect ~~and~~on ~~use of product name. In return,~~ the Company's ~~agrees~~financial toreporting ~~pay~~during ~~licensing fees and/or royalties on sales of those products. During~~ the ~~years~~ year ended February 28, ~~2018 and February 28, 2017, the Company paid $22,651 and $12,500, respectively, in royalties and licensing fees related under these agreements~~2019.

~~NOTE~~We ~~11: GEOGRAPHIC~~are ~~AREAS~~committed to improving our financial organization. As part of this commitment, we plan to prepare and implement sufficient written policies and checklists which will set forth procedures for accounting and financial reporting with respect to the requirements and application of GAAP and SEC disclosure requirements.

~~The~~We ~~Company~~will ~~sells~~continue ~~its~~to ~~products~~monitor ~~throughout~~and evaluate the ~~United~~effectiveness of ~~States~~our internal controls and ~~internationally.~~procedures ~~Geographic~~and ~~sales~~our ~~information~~internal ~~for~~controls ~~the~~over ~~fiscal~~financial ~~years~~reporting ~~ended~~on ~~February~~an ~~28,~~ongoing ~~2018~~basis and ~~February~~are 28committed to taking further action and implementing additional enhancements or improvements, ~~2017~~as isnecessary and as ~~follows:~~funds allow.

	2018		2017
United States	$	5,130,357	$	4,099,466
Asia		105,568		158
Greece		-		-
United Kingdom		-		14,944
New Zealand		-		91,971
Australia		-		50,615
Canada		40,291		38,971
Other countries		3,161		82,311
Total	$	5,279,377	$	4,378,436

This annual report does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by our registered public accounting firm pursuant to rules of the SEC that permit us to provide only management's report in this annual report.

~~_____________~~Changes in Internal Control over Financial Reporting

There was no change in internal control over financial reporting (1as such term is defined in Exchange Act Rules 13a-15(f) ~~Sales~~ ~~are~~and ~~based~~15d-15(f)) onduring ~~the~~our ~~country~~fourth offiscal ~~residence~~quarter ofthat ~~the~~has ~~customer~~materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

~~Long~~ITEM ~~lived~~9B. ~~assets~~OTHER ~~at February 28, 2018 are in the following geographic areas:~~INFORMATION

	United States		China		Total
Property and equipment, net	$	57,264	$	78,275	$	135,539
Other assets		66,670		-		66,670
Total	$	123,934	$	78,275	$	202,209

NONE

~~F-17~~PART III

~~SEYCHELLE~~ITEM ~~ENVIRONMENTAL~~10. ~~TECHNOLOGIES~~DIRECTORS, ~~INC.~~EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

~~Notes~~Our toDirectors and Executive Officers as of May 29, 2019, their ages and positions held in the ~~Consolidated~~Company are ~~Financial~~as ~~Statements~~follows:

NOTE 11: GEOGRAPHIC AREAS (CONTINUED)

Cari Beck	58	President, CEO, CFO, Treasurer, HR Manager and Director
John Beck	60	Director
Carl Palmer	85	Director
Lena Smith	47	Secretary

~~Long~~Our ~~lived~~Directors ~~assets~~have served and will serve in such capacity until the next annual meeting of our shareholders and until their successors have been elected and qualified. The officers serve at ~~February~~the 28discretion of our Directors. The Board of Directors as a whole serve as the audit committee. The Board of Directors has determined that each of its members is able to read and understand fundamental financial statements and has substantial business experience that results in that member's financial sophistication. Accordingly, ~~2017~~our Board of Directors believes that each of its members has sufficient knowledge and experience necessary to fulfill the duties and obligations that an audit committee would have. Mr. Carl Palmer is the father and father-in-law of Mrs. Cari Beck and Mr. John Beck, respectively. Mrs. Cari Beck and Mr. John Beck are wife and husband. None of the Directors have been involved in the ~~following~~types ~~geographic~~of ~~areas:~~litigation specified in Item 401d of Regulation S-B.

	United States		China		Total
Property and equipment, net	$	75,909	$	89,088	$	164,997
Other assets		81,310		-		81,310
Total	$	157,219	$	89,088	$	246,307

~~NOTE~~Biographies ~~12: SUBSEQUENT~~of ~~EVENTS~~Our Executive Officers and Directors

~~Management~~Effective ~~has~~March ~~evaluated~~8, ~~events~~2019, ~~subsequent~~Cari toBeck ~~February~~became 28the President, CEO, ~~2018~~CFO, ~~through~~Treasurer, HR Manager. Mrs. Beck became a Director in April 2016. From 1992-2002, Mrs. Beck worked as the ~~date~~production coordinator for Krystal Enterprises, one of the ~~accompanying~~largest ~~consolidated~~limousine ~~financial~~manufacturers ~~statements~~in ~~were~~the ~~filed~~world. During her time at Krystal Enterprises, Mrs. Beck worked collaboratively with ~~the~~major ~~Securities~~US ~~and~~auto ~~Exchange~~manufacturers ~~Commission~~to purchase chassis for ~~transactions~~limousine ~~and~~production. She ~~other~~was ~~events~~responsible ~~that~~for ~~may~~coordinating ~~require~~all ~~adjustment~~aspects of production and~~/or~~ ~~disclosure~~accounts receivable to ensure timely delivery and satisfaction to the customer. She was instrumental in ~~such~~coordinating ~~financial~~the ~~statements~~preparation, organization and set up for all quarterly trade shows. Mrs. ~~Based~~Beck worked directly with the Executive Vice President handling the company's national accounts and maintaining inventory levels on ~~its~~all ~~review~~finished products. During her tenure, noKrystal ~~material~~Enterprises ~~events~~grew ~~were~~from ~~identified~~a ~~that~~company ~~require~~producing ~~adjustment~~20 vehicles to 150 monthly. For the ~~financial~~past ~~statements~~seven oryears ~~additional~~Mrs. ~~disclosure~~Beck has consulted for Seychelle (in her role as the trustee of the TAM Trust), with a focus on manufacturing, assembly and process control.

FJohn Beck. Mr. Beck became a Director in May 2016. He currently holds the position of Vice President of Operations at Grech Motors, a private company. He has a history of being a part of a team working to help companies grow. From 1976-181986, Mr. Beck worked for Quality Bowling Corporation where he started as the sixth employee hired and finished his time there as a purchasing agent in a company that had grown to over 40 employees. In 1983, Mr. Beck purchased his first limousine and started a part-time limousine venture that led to a 30-year career with Krystal Enterprises, a private company. His responsibilities included sales, marketing, and substantial input on design and production. Over his 30 years at Krystal Enterprises, sales grew from $150,000 a month during the early 1980's to approximately $10 million a month in sales during the late 1990's. After Krystal Enterprises was sold in 2011, Mr. Beck retired. Not long after retiring he began consulting and then was hired on as the Vice President of Operations for Grech Motors.

Carl Palmer. Mr. Palmer was the President, Chief Executive Officer (CEO), Chief Financial Officer (CFO) from 1998 until March 8, 2019, but remains a Director ~~ITEM~~of 9the Company. ~~CHANGES~~He INwas ~~AND~~the ~~DISAGREEMENTS~~founder ~~WITH~~of ~~ACCOUNTANTS~~our ONCompany ~~ACCOUNTING~~in ~~AND~~1998, ~~FINANCIAL~~innovator ~~DISCLOSURES~~of the complete line of Seychelle water filtration products and primary spokesperson worldwide. He is an internationally recognized expert in the field for over 40 years and pioneered the development of the reverse osmosis (RO) home and office pure water business in the U.S. in the late 1970's. That company, Aq-Ro-Matic, was later sold to Coca-Cola in 1973. He developed the cellulose triacetate membrane, a breakthrough technological development in the industry and subsequently, created and sold pure water companies to Coca Cola Los Angeles as noted previously, AMF/Cuno in 1985 and Shaklee in 1989. Also, in the late 1980's Mr. Palmer developed the Best Water reverse osmosis business for Shaklee and sold over $53 million in above-the-counter systems. Carl's 30 years of direct sales experience has led to many significant business relationships, many of which continue today. He is the inventor of thirteen patented products related to water purification. Mr. Palmer received a Bachelor's Degree from Whittier College.

WeLena ~~did~~Smith. ~~not~~Effective ~~have~~March ~~any~~8, ~~disagreements~~2019. onMs. ~~accounting~~Smith became the Secretary of Seychelle. She is currently the Administrative Assistant to the President and ~~financial~~CEO ~~disclosures~~of Seychelle. Ms. Smith has been with ~~our~~Seychelle ~~present~~since ~~independent~~March ~~registered~~2013, ~~public~~where ~~accounting~~she ~~firm~~began ~~during~~her employment as a Customer Service Representative and attained her current position two years later. Before joining Seychelle, Ms. Smith spent 23 years in the ~~reporting~~hospitality ~~periods~~field and food service industry where she assumed various management positions. She is a Southern California native and a 1989 graduate of Capistrano Valley High School. She attended Saddleback College. From 2000 to 2007, she has held positions as a volunteer, member, chairperson or board member to organizations such as AYSO, Capistrano Unified School District PTA and School Site Council, Newhart Jr. High, George White and Castille Elementary as well as other local community associations.

~~ITEM~~Delinquent ~~9A.~~Section ~~CONTROLS~~16(a) ~~AND PROCEDURES~~Reports

WeSection ~~maintain~~16(a) ~~disclosure~~of ~~controls and procedures that are designed to ensure that information required to be disclosed in~~ the ~~reports~~Securities ~~that we file with the SEC under the~~ Exchange Act isof ~~recorded~~1934, ~~processed~~as amended, ~~summarized~~requires ~~and reported within~~ the ~~time periods specified in the SEC~~Company's ~~rules~~directors and ~~forms and that such information is accumulated and communicated to our management, including our principal~~ executive ~~and financial~~ officers, asand ~~appropriate,~~persons towho ~~allow~~own ~~for~~more ~~timely~~than ~~decisions~~10% ~~regarding~~of ~~required~~a registered ~~disclosure.~~class ~~As required by Rule 15d-15(b)~~ of the ~~Exchange~~Company's ~~Act,~~outstanding weequity ~~carried~~securities ~~out~~to anfile ~~evaluation, under the supervision and~~ with the ~~participation~~Securities ~~of our management, including our principal executive~~ and ~~principal~~Exchange ~~financial~~Commission ~~officer,~~initial reports of ~~the~~ownership ~~effectiveness of the design~~ and ~~operation~~reports of ~~our~~changes ~~disclosure controls and procedures (as defined~~ in ~~Rules~~ownership ~~13a-15(e) and 15d-15(e)~~ of ~~the~~common ~~Exchange~~stock ~~Act)~~and asother ofequity ~~the~~securities ~~end~~ of the ~~period covered by this report~~Company. ~~Based on the foregoing~~ Officers, ~~our~~directors ~~principal executive~~ and ~~principal~~greater ~~financial~~than ~~officer~~10% ~~concluded~~shareholders ~~that~~are ~~our~~required ~~disclosure~~by ~~controls~~SEC ~~and~~regulations ~~procedures are not effective~~ to ~~ensure~~furnish the ~~information~~Company ~~required~~with tocopies beof all ~~disclosed~~Section in16(a) ~~our~~forms ~~reports~~they ~~filed~~file. orMr. ~~submitted under the Exchange Act is recorded, processed~~ and ~~reported~~Mrs. ~~within~~Beck ~~the~~have ~~time~~filed ~~periods~~amended ~~specified~~Forms ~~in the SEC's rules and forms~~3.

~~Management's~~Code ~~Annual~~of ~~Report~~Ethics onfor ~~Internal~~Chief ~~Control~~Executive ~~over~~Officer ~~Financial~~and ~~Reporting~~Senior Financial Officers

~~The~~On ~~management~~May 20, 2006, the Board of Directors of the Company isadopted ~~responsible~~the Code of Ethics for ~~establishing~~the Chief Executive Officer and ~~maintaining~~Senior ~~adequate~~Financial ~~internal~~Officers. The ~~control~~Code ~~over~~is ~~financial~~designed ~~reporting,~~to asdeter ~~such~~wrong-doing and ~~term~~promote ishonest ~~defined~~and inethical ~~Rule~~behavior, ~~13a-15(f)~~full, ~~under~~fair, ~~the~~timely, ~~Exchange~~accurate ~~Act.~~and ~~The~~understandable ~~Company's~~disclosure ~~internal~~and ~~control~~compliance ~~over~~with ~~financial~~applicable governmental ~~reporting~~laws, isrules aand ~~process~~regulations. It is also designed ~~under~~to ~~the~~encourage ~~supervision~~prompt internal reporting of violations of the ~~Company's~~Code ~~Chief~~to ~~Executive~~an ~~Officer~~appropriate person and ~~Principal~~provides ~~Financial~~for ~~Officer~~accountability for adherence to ~~provide~~the ~~reasonable~~Code. We ~~assurance~~will ~~regarding~~provide ~~the~~to ~~reliability~~any person ofwithout ~~financial~~charge, ~~reporting~~upon ~~and~~written ~~the~~request ~~preparation~~to ofour ~~the~~principal ~~Company's~~executive ~~financial~~offices, ~~statements~~a ~~for~~copy ~~external~~of ~~purposes~~our inCode. Any ~~accordance~~waiver ~~with~~of ~~accounting~~the Code ~~principles~~pertaining ~~generally~~to ~~accepted~~one inof ~~the~~our ~~United~~executive ~~States~~officers ofwill ~~America~~be ~~(US~~disclosed ~~GAAP)~~in ~~and~~a ~~includes~~report ~~those~~on ~~policies~~Form ~~and~~8-K ~~procedures~~filed ~~that:~~with the SEC.

●Indemnification ~~pertain to the maintenance~~ of ~~records~~Directors ~~that in reasonable detail accurately~~ and ~~fairly reflect the transactions and dispositions of our assets;~~Officers.

●The ~~provide~~Company's ~~reasonable~~Bylaws ~~assurance~~provide that ~~the~~it ~~transactions~~will ~~are~~indemnify ~~recorded~~its asofficers and ~~necessary~~directors to ~~permit~~ the ~~preparation~~full ofextent ~~financial~~permitted ~~statements~~by inNevada ~~accordance~~state ~~with~~law. ~~generally~~The ~~accepted~~Company's ~~accounting~~bylaws ~~principles,~~likewise ~~and~~provide that ~~our~~it ~~receipts~~will indemnify and hold ~~expenditures~~harmless ~~are~~its ~~being~~officers ~~made~~and ~~only~~directors infor ~~accordance~~any ~~with~~liability ~~authorizations~~including reasonable costs of ~~our~~defense ~~management~~arising out of any act or omission taken on behalf of the Company, to the full extent allowed by Nevada law, if the officer or director acted in good faith and ~~directors;~~in a manner the officer or director reasonably believed to be in, or not opposed to, the best interests of the corporation.

~~● provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements;~~17

●In ~~pertain~~so tofar as indemnification for liabilities arising under the ~~maintenance~~Securities Act of ~~records~~1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in ~~reasonable~~the ~~detail~~opinion ~~accurately~~of the Securities and ~~fairly~~Exchange ~~reflect~~Commission such indemnification is against public policy as expressed in the ~~transactions~~Act and ~~dispositions~~is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of ~~our~~expenses ~~assets;~~incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

●Item ~~provide~~11. ~~reasonable~~EXECUTIVE assurance that the transactions are recorded as necessary to permit the preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; andCOMPENSATION

●The ~~provide~~following ~~reasonable~~table ~~assurance~~sets ~~regarding~~forth ~~prevention~~the orSummary ~~timely~~Compensation ~~detection~~Table for ofthe ~~unauthorized~~President ~~acquisition,~~and ~~use,~~the orexecutive ~~disposition~~officers at the end of ~~our~~the ~~assets~~last ~~that~~three ~~could~~completed ~~have~~fiscal ayears. ~~material~~Compensation ~~effect~~does onnot ~~the~~include minor ~~financial~~business-related ~~statements~~and other expenses paid by us.

-SUMMARY 20COMPENSATION -TABLE

Internal control over financial reporting cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company.

											Long Term Compensation
		Annual Compensation									Awards					Payouts
(a)	(b)	(c)			(d)			(e)			(f)			(g)		(h)			(i)
								Other			Restricted			Securities					All
								Annual			Stock			Underlying		LTIP			Other
Fiscal		Salary			Bonus			Compensation			Award(s)			Option/SARs		Payouts			Compensation
Name and Principle Position	Year	($)			($)			($)			($)				(#)	($)			($)

Carl Palmer	2019		$	140,000		$	24,452		$	0.00		$	0.00		0.00		$	0.00		$	0.00
Director	2018			120,875			0.00			0.00			0.00		0.00			0.00			0.00
	2017			45,250			0.00			0.00			0.00		0.00			0.00			0.00

Cari Beck	2019			48,507			0.00			0.00			0.00		0.00			0.00			0.00
President, CEO, CFO, Treasurer, HR Manager	2018			43,781			0.00			0.00			0.00		0.00			0.00			0.00
Director	2017			8,219			0.00			0.00			0.00		0.00			0.00			0.00

Management has used the framework set forth in the report entitled Internal Control-Integrated Framework (2013) published by the Committee of Sponsoring Organizations of the Treadway Commission, known as COSO, to evaluate the effectiveness of our internal control over financial reporting. Based on this assessment, management has concluded that our internal control over financial reporting was not effective as of February 28, 2018._________________

AOPTION/SAR ~~material~~GRANTS ~~weakness~~IN isLAST aFISCAL ~~deficiency,~~YEAR. The orCompany ~~combination~~granted ofno ~~deficiencies,~~options ~~that~~during ~~results~~the infiscal ~~more~~year ~~than~~ended aFebruary ~~remote~~28, ~~likelihood that a material misstatement of annual or interim financial statements will not be prevented or detected~~2019. InThe ~~connection~~Company ~~with~~had ~~the~~no ~~assessment~~options ~~described~~outstanding ~~above,~~as ~~management~~of ~~identified~~ the fiscal ~~following~~year ~~control~~ended ~~deficiencies that represent material weaknesses at~~ February 28, 2019 and 2018:

~~(1)~~AGGREGATED ~~lack~~OPTIONS/SARS ofEXERCISED aIN LAST ~~functioning~~FISCAL ~~audit~~YEAR ~~committee~~AND ~~and~~FISCAL ~~lack~~YEAR-END ofOPTION/SAR aVALUES. ~~majority~~There ofwere ~~outside~~no ~~directors~~outstanding onoptions ~~the~~as ~~Company's Board~~ of ~~Directors~~the ~~capable~~fiscal toyear ~~oversee~~ended ~~the~~February 28, ~~audit function;~~2019.

~~(2)~~DIRECTOR ~~inadequate~~COMPENSATION. ~~segregation~~Total ofDirector compensation ~~duties~~was ~~due~~$212,959 tofor ~~limited~~FY2019, ~~number of personnel~~$164,656 ~~which~~for ~~makes~~FY ~~the~~2018, ~~reporting~~and ~~process~~$101,572 ~~susceptible~~for toFY ~~management override;~~2017.

~~(3)~~The ~~insufficient~~Board ~~written~~of ~~policies~~Directors ~~and~~as ~~procedures~~a ~~for~~whole ~~accounting~~act as ~~and~~a ~~financial~~compensation ~~reporting~~committee. ~~with~~We ~~respect~~have tono ~~the~~retirement, ~~requirements~~pension, ~~and~~sharing, ~~application~~stock ofoption, ~~GAAP~~insurance ~~and~~or ~~SEC~~other ~~disclosure~~similar ~~requirements;~~programs.

~~(4)~~We ~~ineffective~~do not ~~controls~~have ~~over~~a ~~period~~separately ~~end~~designated ~~financial~~audit, ~~disclosure~~compensation ~~and~~or ~~reporting~~nominating ~~processes;~~committee of our Board of Directors. We are not a "listed company" under SEC rules and are therefore not required to have separate committees comprised of independent directors.

~~Management believes that the material weaknesses set forth in items (1) through (4) above did not have an effect on the Company's financial reporting during the year ended February 28, 2018.~~18

WeITEM ~~are committed to improving our financial organization~~12. AsSECURITY ~~part~~OWNERSHIP ofOF ~~this~~CERTAIN ~~commitment,~~BENEFICIAL weOWNERS ~~plan~~AND toMANAGEMENT ~~prepare~~AND ~~and~~RELATED ~~implement~~STOCKHOLDER sufficient written policies and checklists which will set forth procedures for accounting and financial reporting with respect to the requirements and application of GAAP and SEC disclosure requirements.MATTERS

WeThe ~~will~~following ~~continue~~sets toforth ~~monitor~~the ~~and~~number of ~~evaluate~~shares ~~the~~and ~~effectiveness~~warrants of our ~~internal~~$0.001 ~~controls~~par ~~and~~value ~~procedures~~common ~~and~~stock ~~our~~beneficially ~~internal~~owned ~~controls~~by ~~over~~(i) ~~financial~~each ~~reporting~~person onwho, anas ~~ongoing~~of ~~basis~~May ~~and~~28, ~~are~~2019, ~~committed~~was known by us to ~~taking~~own ~~further~~beneficially ~~action~~more than five percent (5%) of its common stock; (ii) our individual Directors and ~~implementing~~(iii) ~~additional~~our ~~enhancements~~Officers and orDirectors ~~improvements~~as a group. As of May 28, as2019 ~~necessary~~there were a total of 26,640,313 common shares issued and asoutstanding ~~funds~~and ~~allow~~6,407,221 outstanding warrants for a total of 33,047,534 common shares and warrants.

NAME AND ADDRESS	AMOUNT AND NATURE OF	PERCENT OF
OF BENEFICIAL OWNER	BENEFICIAL OWNERSHIP ^(1)(2)(4)	CLASS

The TAM Irrevocable Trust	15,307,799 shares⁽³⁾	57.46%
4012 S. Rainbow #K111
Las Vegas, NV 80103-2012

Carl Palmer	(1)	-
251 Jeanell Dr., Ste 3
Carson City, NV 89703

Cari Beck	15,516,799 shares ⁽³⁾	58.25%
4435 Pepperdine Pl
Yorba Linda, CA 92886

John Beck	15,516,799 shares ⁽³⁾	58.25%
4435 Pepperdine Pl
Yorba Linda, CA 92886

Lena Smith 22 Journey Aliso Viejo, CA 92656	-0-	-0-

All officers and directors as a Group (four persons)	15,516,799 shares	58.25%

~~Changes in Internal Control over Financial Reporting~~_______________

There was no change in internal control over financial reporting (as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

(1)	All ownership is beneficial and of record, unless indicated otherwise. Does not include 83,333 common shares owned by Mr. Palmer’s wife, for which he disclaims beneficial ownership.

(2)	Beneficial owners listed above have sole voting and investment power with respect to the shares shown, unless otherwise indicated.

(3)	The TAM Irrevocable Trust is an irrevocable trust for the benefit of certain family members of Mrs. Cari Beck. Mr. Carl Palmer disclaims any beneficial ownership or interest in this Trust. Mrs Cari Beck is the Trustee of the Trust and has total beneficiary rights, including all voting rights and investment power as the Trustee. The Trust is held in her name (50%) as well as that of Lindsay Helvey (25%) and Casey Helvey (25%), both granddaughters. Mrs. Beck also owns 209,000 common shares of record. In addition to the common shares shown in the foregoing table, the Trust holds a total of 4,857,221 warrants.

(4)	There are no other financial instruments, including stock warrants, etc. that are issuable within sixty days from the filing of this document.

~~ITEM~~During ~~9B.~~the ~~OTHER~~fiscal ~~INFORMATION~~year ended February 28, 2018, TAM Trust purchased, on behalf of the Company, $132,488 of raw materials from a vendor with which it already had a business relationship.

~~NONE~~The Company had advanced amounts to employees of approximately $26,000 and $28,600 as of February 28, 2019 and 2018, respectively. These amounts are being repaid through direct payroll withdrawals

~~PART~~The ~~III~~Company paid commission to Mr. Carl Palmer's brother-in-law for sourcing raw materials with third-party vendors in China. The Company paid approximately $47,000 and $63,000 in direct commissions to the related party during the fiscal years ended February 28, 2019 and 2018, respectively.

~~ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE~~19

~~Our~~The ~~Directors~~Company ~~and~~utilizes ~~Executive~~the ~~Officers~~services asof two individuals, one of ~~May~~which ~~29,~~is ~~2018~~a related party and one of which is third-party, ~~their~~in ~~ages~~China to source materials and ~~positions~~the ~~held~~manufacturing of component parts with third-party vendors in China. As of February 28, 2019 and 2018, the Company ~~are~~ ashad ~~follows:~~deposits for inventory purchases in China of approximately $66,237 and $8,067, respectively.

Carl Palmer	84	Chief Executive Officer ("CEO"), President, Chief Financial Officer and Director
Cari Beck	57	Secretary-Treasurer, HR Manager and Director
John Beck	59	Director
Gary Hess	57	Director
Jenevieve Fisher	47	Director

The Company had receivable from shareholders of $5,472 and $6,407 as of February 28, 2019 and 2018, respectively.

~~Our~~The ~~Directors~~Company ~~have~~had ~~served~~sales ~~and~~to ~~will~~two ~~serve~~companies inrelated ~~such~~to ~~capacity~~a ~~until the next annual meeting~~ member of ~~our shareholders and until their successors have been elected and qualified. The officers serve at~~ the ~~discretion of our Directors. The~~ Board of Directors ~~as a whole serve as the audit committee~~. ~~The~~Specifically, ~~Board~~the oftwo ~~Directors~~companies ~~has~~were ~~determined~~Sovereign ~~that~~Earth, ~~each~~LLC ofand ~~its~~Amazon ~~members~~Seychelle. isSales ~~able~~ to ~~read~~Sovereign Earth, ~~and~~LLC ~~understand~~(dba ~~fundamental~~Revolve) ~~financial~~were ~~statements~~$899,000 and ~~has~~$636,000 ~~substantial~~for ~~business~~the ~~experience~~fiscal ~~that~~years ~~results~~ended inFebruary ~~that~~28, ~~member's~~2019 ~~financial~~and ~~sophistication. Accordingly~~2018, ~~our~~respectively ~~Board of Directors believes that each of its members has sufficient knowledge~~ and ~~experience necessary~~ sales to ~~fulfill~~Amazon ~~the~~Seychelle ~~duties~~totaled ~~and~~$165,000 ~~obligations that an audit committee would have. Mr. Carl Palmer is the father~~ and ~~father-in-law~~$24,000 offor ~~Ms.~~2019 ~~Cari Beck~~ and ~~Mr.~~2018 ~~John Beck,~~ respectively. ~~Ms.~~Pursuant ~~Cari~~to ~~Beck~~the ~~and~~agreement ~~Mr.~~with ~~John~~the ~~Beck~~Company, ~~are~~Sovereign Earth, ~~wife~~LLC ~~and~~is ~~husband. Gary~~the ~~Hess~~sole and ~~Jenevieve~~exclusive ~~Fisher~~seller ~~were elected as Board~~ of ~~Directors effective July 19, 2016. None of~~ the ~~Directors~~certain ~~have~~Seychelle ~~been~~products ~~involved~~ in ~~the types of litigation~~ specified inAmazon ~~Item~~world ~~401d of Regulation S-B~~markets.

~~Biographies~~ITEM of14: ~~Our~~PRINCIPAL ~~Executive~~ACCOUNTANT ~~Officers~~FEES ~~and~~AND ~~Directors~~SERVICES

~~Carl~~Our ~~Palmer.~~Board ~~Mr.~~of ~~Palmer~~Directors isdoes ~~the~~not ~~President,~~have ~~Chief~~an ~~Executive~~audit ~~Officer~~committee. The functions ~~(CEO),~~customarily ~~Chief~~delegated ~~Financial~~to ~~Officer~~an ~~(CFO)~~audit ~~and~~committee aare ~~Director~~performed ofby ~~the Company. He was the founder of~~ our ~~Company~~full inBoard ~~1998, innovator~~ of ~~the complete line of Seychelle water filtration products and primary spokesperson worldwide~~Directors. Our HeBoard ~~is an internationally recognized expert in the field for over 40 years and pioneered the development~~ of ~~the~~Directors approves ~~reverse osmosis (RO) home and office pure water business~~ in ~~the U.S. in the late 1970's. That company~~advance, ~~Aq-Ro-Matic,~~all ~~was~~services ~~later~~performed ~~sold~~by toSquar ~~Coca-Cola in 1973. He developed the cellulose triacetate membrane~~Milner, ~~a breakthrough technological development in the industry and subsequently, created and sold pure water companies to Coca Cola Los Angeles as noted previously, AMF/Cuno in 1985 and Shaklee in 1989~~LLP. Our ~~Also,~~Board inof ~~the~~Directors ~~late~~considers ~~1980's~~whether ~~Mr. Palmer developed~~ the ~~Best~~provision of ~~Water reverse osmosis business for Shaklee and sold over $53 million in above~~non-~~the-counter~~audit ~~systems.~~services ~~Carl's~~is 30compatible ~~years~~with ofmaintaining ~~direct sales experience has led to many significant business relationships, many of which continue today. He is~~ the ~~inventor~~principal ~~of thirteen patented products related to water purification. Mr. Palmer received a Bachelor~~accountant's ~~Degree from Whittier College~~independence.

-The 22following -table sets forth fees billed by Squar Milner, LLP during the last two fiscal years for services rendered for the audit of our annual consolidated financial statements and the review of our quarterly financial statements, services by our independent registered public accounting firm that are reasonably related to the performance of the audit or review of our consolidated financial statements and that are not reported as audit fees, services rendered in connection with tax compliance, tax advice and tax planning, and all other fees for services rendered.

Cari Beck. Secretary-Treasurer, HR Manager and Director. From 1992-2002, Mrs. Beck worked as the production coordinator for Krystal Enterprises, one of the largest limousine manufacturers in the world. During her time at Krystal Enterprises, Mrs. Beck worked collaboratively with major US auto manufacturers to purchase chassis for limousine production. She was responsible for coordinating all aspects of production and accounts receivable to ensure timely delivery and satisfaction to the customer. She was instrumental in coordinating the preparation, organization and set up for all quarterly trade shows. Mrs. Beck worked directly with the Executive Vice President handling the company's national accounts and maintaining inventory levels on all finished products. During her tenure, Krystal Enterprises grew from a company producing 20 vehicles to 150 monthly. For the past seven years Mrs. Beck has consulted for Seychelle (in her role as the trustee of the TAM Trust), with a focus on manufacturing, assembly and process control. Ms. Beck became a Director in April 2016.

	February 28,		February 28,
	2019		2018

Audit fees	$	69,900	$	68,080
Audit related fees		-		-
Tax fees		10,000		10,500
All other fees	$	-	$	46,132

~~John~~Audit ~~Beck~~fees. ~~Mr. Beck currently holds the position of Vice President of Operations at Grech Motors, a private company.~~ HeThe ~~has~~audit afees ~~history~~in offiscal ~~being~~2019 ~~a part of a team working to help companies grow. From 1976-1986, Mr. Beck worked for Quality Bowling Corporation where he started as the sixth employee hired~~ and 2018 ~~finished his time there as a purchasing agent in a company that had grown to over 40 employees. In 1983~~$69,900 ~~Mr. Beck purchased his first limousine~~ and ~~started a part-time limousine venture that led to a 30-year career with Krystal Enterprises~~$68, ~~a private company. His responsibilities included sales~~080, ~~marketing~~respectively, ~~and~~related ~~substantial input on design and production. Over his 30 years at Krystal Enterprises, sales grew from $150,000 a month during the early 1980's~~ to ~~approximately $10 million a month in sales during~~ the ~~late~~audit ~~1990's. After~~of ~~Krystal~~our ~~Enterprises~~consolidated ~~was~~financial ~~sold in 2011~~statements, ~~Mr. Beck retired. Not long after retiring he began consulting~~ and ~~then~~quarterly ~~was hired on as the Vice President of Operations for Grech Motors~~reviews. ~~Mr. Beck became a Director in May 2016.~~

~~Jenevieve~~Tax ~~Fisher~~fees. ~~Ms. Fisher has been devoted, since the age of twenty-two, to helping others negotiate the challenges of dealing with a diagnosis of cancer.~~ AsThe atax ~~cancer~~fee ~~survivor~~in offiscal ~~Hodgkin's~~2019 ~~disease,~~and ~~she has committed herself to bringing health education~~2018 $10,000 ~~encouragement~~ and ~~hope to those living with cancer and their families. She has been an avid supporter of the American Cancer Society~~$10,500 ~~the~~respectively ~~Leukemia~~related ~~and~~to professional ~~Lymphoma~~services ~~Society~~rendered ~~and~~for ~~the~~tax ~~National Childhood Cancer Foundation. She is also a member of the Society of Children's Book Writers and Illustrators~~compliance, astax ~~well~~advice ~~as the Northwest Christian Writer's Association. She has written~~ and ~~film~~tax ~~over one hundred health videos~~planning.

Gary Hess. Mr. Hess has sixteen years of experience in the water filtration business. For the past eleven years, he has managed his own engineering firm, Hess & Associates, which specializes in industrial water reclamation with a focus on removing heavy metals and environmental toxins from process water. His company services and supports some of the largest military Printed Circuit Board manufacturers in the U.S., treating in excess of 2 million gallons of water per day using proprietary chemistry, procedures and equipment.20

~~Compliance~~ITEM ~~with~~15. ~~Section~~EXHIBITS, ~~16(a)~~FINANCIAL ofSTATEMENT ~~the Securities Exchange Act of 1934~~SCHEDULES

Section 16(a) of the Securities Exchange Act of 1934, as amended, requires the Company's directors and executive officers, and persons who own more than 10% of a registered class of the Company's outstanding equity securities to file with the Securities and Exchange Commission initial reports of ownership and reports of changes in ownership of common stock and other equity securities of the Company. Officers, directors and greater than 10% shareholders are required by SEC regulations to furnish the Company with copies of all Section 16(a) forms they file.Exhibits

To the Company's knowledge, there were no Section 16(a) filing requirements applicable to its officers, directors or greater than 10% beneficial owners for the fiscal year ended February 28, 2018.

Exhibit No.	Description

2A*	Plan of Exchange between Seychelle Environmental Technologies, Inc. and Seychelle Water Technologies, Inc. dated January 30, 1998 as filed with Form 10-SB 12 G on February 8, 2000.

3A*	Articles of Incorporation dated January 23, 1998 as filed with Form 10-SB 12 G on February 8, 2000.

3B*	Articles of Merger of Royal Net, Inc. into Seychelle Environmental Technologies, Inc as filed with Form 10-SB 12 G on February 8, 2000.

3C*	Amendment to Articles of Incorporation re: Series "A" Preferred Stock as of January 31, 1998 as filed with Form 10-SB 12 G on February 8, 2000.

3D*	Amendment to Articles of Incorporation re: Series "AA" Preferred Stock as of June 5, 1998 as filed with Form 10-SB 12 G on February 8, 2000.

3E*	Amendment to Articles of Incorporation re: Series "AAA" Preferred Stock as of February 18, 1999 as filed with Form 10-SB 12 G on February 8, 2000.

3F*	Bylaws as filed with Form 10-SB 12 G on February 8, 2000.

10A*	Purchase Agreement with Aqua Vision as filed with Form 10-SB 12 G on February 8, 2000.

10B*	Amended Purchase Agreement with Aqua Vision as filed with Form 10-SB 12 G on February 8, 2000.

10C*	2000 Stock Compensation Plan I, dated July 1, 2000 as filed with Registration Statement on Form S-8 on August 31, 2000.

10D*	2002 Stock Compensation Plan I, dated February 12, 2002 as filed with Registration Statement on Form S-8 on February 27, 2002.

10E*	Purchase Agreement with Aqua Gear as filed with Annual Report on Form 10-K on June 14, 2002.

10F*	Employment Contract with Carl Palmer as filed with Annual Report on Form 10-K on June 14, 2002.

10G*	Management Consulting Contract with Richard Parsons

10H*	Management Consulting Contract with James Place

10I*	Joint Venture Agreement with Huanghua Plastic Co. Ltd. dated September 1, 2005

10J*	ABMS Health Care Pvt. Ltd. Distribution Rights Agreement dated April 1, 2006

10K*	Confident, Inc. Exclusive Distribution Rights Agreement dated January 1, 2006

~~Code of Ethics for Chief Executive Officer and Senior Financial Officers~~21

On May 20, 2006, the Board of Directors of the Company adopted the Code of Ethics for the Chief Executive Officer and Senior Financial Officers. The Code is designed to deter wrong-doing and promote honest and ethical behavior, full, fair, timely, accurate and understandable disclosure and compliance with applicable governmental laws, rules and regulations. It is also designed to encourage prompt internal reporting of violations of the Code to an appropriate person and provides for accountability for adherence to the Code. We will provide to any person without charge, upon written request to our principal executive offices, a copy of our Code. Any waiver of the Code pertaining to one of our executive officers will be disclosed in a report on Form 8-K filed with the SEC.

Exhibit No.	Description


10L*	Continental Technologies. Inc., Purchase Agreement dated April 26, 2006

10M*	Promissory Note to TAM Irrevocable Trust dated May 1, 2001

10N*	Promissory Note to TAM Irrevocable Trust dated February 28, 2002

10O*	Promissory Note to TAM Irrevocable Trust dated February 28, 2003

10P*	Promissory Note to TAM Irrevocable Trust dated November 1, 2003

10Q*	Promissory Note to TAM Irrevocable Trust dated February 28, 2004

10R*	Food For Health Purchase Agreement

10S*	Food For Health Distribution Agreement

10T*	Seychelle Environmental Technologies, Inc. License Agreement with Mr. Gary Hess

10U*	Employment Agreement with Mr. Carl Palmer

10V*	Employment Agreement with Mr. James Place

21*	Subsidiaries

31.1**	Certification of the Chief Executive/Financial Officer pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes Oxley Act of 2002)

32.1**	Certification of the Chief Executive/Financial Officer pursuant to 18 U.S.C.ss.1350 (Section 906 of the Sarbanes-Oxley Act of 2002)

99*	Code of Ethics for Chief Executive Officer and Senior Financial Officers

~~Indemnification of Directors and Officers.~~___________________

~~The~~* ~~Company's~~Previously ~~Bylaws~~filed ~~provide~~with ~~that it will indemnify its officers and directors to~~ the ~~full~~Securities ~~extent permitted by Nevada state law. The Company's bylaws likewise provide that it will indemnify~~ and ~~hold~~Exchange ~~harmless~~Commission ~~its~~as ~~officers~~indicated and ~~directors~~incorporated ~~for any liability including reasonable costs of defense arising out of any act or omission taken on behalf of the Company, to the full extent allowed~~ by ~~Nevada~~reference ~~law,~~herein if** ~~the~~Attached ~~officer or director acted in good faith and in a manner the officer or director reasonably believed to be in, or not opposed to, the best interests of the corporation.~~hereto

~~- 23 -~~22

In so far as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.SIGNATURES

~~Item~~In ~~11. EXECUTIVE~~accordance ~~COMPENSATION~~with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The following table sets forth the Summary Compensation Table for the President and the executive officers at the end of the last three completed fiscal years. Compensation does not include minor business-related and other expenses paid by us.


	SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.

Date: May 29, 2019	By:	/s/ Cari Beck
		Cari Beck Chief Executive Officer and Chief Financial Officer

~~SUMMARY~~In ~~COMPENSATION~~accordance ~~TABLE~~with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

											Long Term Compensation
/s/ Carl Palmer
		Annual Compensation									Awards					Payouts
Carl Palmer, Director	,	May 29, 2019
(a)	(b)	(c)			(d)			(e)			(f)			(g)		(h)			(i)
								Other			Restricted			Securities					All
								Annual			Stock			Underlying		LTIP			Other
Fiscal		Salary			Bonus			Compensation			Award(s)			Option/SARs		Payouts			Compensation
Name and Principle Position	Year	($)			($)			($)			($)				(#)	($)			($)
Carl Palmer	2018		$	120,875		$	0.00		$	0.00		$	0.00		0.00		$	0.00		$	0.00
President, CEO, CFO	2017			45,250			0.00			0.00			0.00		0.00			0.00			0.00
Director	2016			45,000			80,000			0.00			0.00		0.00			0.00			0.00
Cari Beck (1)	2018			43,781			0.00			0.00			0.00		0.00			0.00			0.00
HR Manager/Sec-Treasurer	2017			8,219			0.00			0.00			0.00		0.00			0.00			0.00
Director	2016			0.00			0.00			0.00			0.00		0.00			0.00			0.00
James Place(2)	2018			0.00			0.00			0.00			0.00		0.00			0.00			0.00
Former COO and CFO	2017			48,103			0.00			0.00			0.00		0.00			0.00			0.00
2016			$	40,874		$	0.00		$	0.00		$	0.00		0.00		$	0.00		$	0.00

~~_________________~~/s/ Cari Beck Cari Beck, Director May 29, 2019

~~(1)~~/s/ ~~Elected~~John toBeck ~~Board~~John ofBeck, ~~Directors~~Director ~~during~~May ~~April~~29, ~~2016.~~2019

~~(2) Resigned as an Officer and Director in October, 2016.~~23

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OPTION/SAR GRANTS IN LAST FISCAL YEAR. The Company granted no options during the fiscal year ended February 28, 2018. The Company had no options outstanding as of the fiscal year ended February 28, 2018 and February 28, 2017

AGGREGATED OPTIONS/SARS EXERCISED IN LAST FISCAL YEAR AND FISCAL YEAR-END OPTION/SAR VALUES. There were no outstanding options as of the fiscal year ended February 28, 2018.

EMPLOYMENT CONTRACTS WITH EXECUTIVE OFFICERS. Effective April 18, 2016, Mr. Carl Palmer entered into an employment agreement with the Company. The term of each agreement is for a period of five years from the date of the employment agreement. Mr. Carl Palmer will be paid the sum of $120,000 per year plus customary employee benefits for the period of the employment agreement. Also effective April 18, 2016, Mr. James Place, a former Officer and Director, entered into an employment agreement with the Company. The term of each agreement is for a period of five years from the date of the employment agreement. Mr. Place will be paid the sum of $60,000 per year plus customary employee benefits for the period of the employment agreement. He also retains his previously issued warrants.

DIRECTOR COMPENSATION. Total Director compensation was $164,656 for FY 2018, $101,572 for FY 2017 and $165,874 for FY 2016. This does not include compensation to Mr. Gary Hess who became a Director in FY 2017 and received a total of $22,651 for FY18 and $12,500 for FY17 under royalty agreement in that year.

The Board of Directors as a whole act as a compensation committee. We have no retirement, pension, sharing, stock option, insurance or other similar programs.

We do not have a separately designated audit, compensation or nominating committee of our Board of Directors. We are not a "listed company" under SEC rules and are therefore not required to have separate committees comprised of independent directors.

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following sets forth the number of shares and warrants of our $0.001 par value common stock beneficially owned by (i) each person who, as of June 7, 2018, was known by us to own beneficially more than five percent (5%) of its common stock; (ii) our individual Directors and (iii) our Officers and Directors as a group. As of June7, 2018 there were a total of 26,640,313 common shares issued and outstanding and 6,407,221 outstanding warrants for a total of 33,047,534 common shares and warrants.

NAME AND ADDRESS	AMOUNT AND NATURE OF	PERCENT OF
OF BENEFICIAL OWNER	BENEFICIAL OWNERSHIP (1)(2)(4)	CLASS
The TAM Irrevocable Trust	15,307,799 (3)	46.72%
4012 S. Rainbow #K111
Las Vegas, NV 80103-2012
Carl Palmer	-	-
251 Jeanell Dr., Ste 3
Carson City, NV 89703
Cari Beck	15,307,799 (3)	46.72%
4435 Pepperdine Pl	110,000	.01%
Yorba Linda, CA 92886
John Beck	15,307,799 (3)	46.72%
4435 Pepperdine Pl
Yorba Linda, CA 92886
All officers and directors as a Group (three persons)	17,172,799	52.42%

_______________

(1)	All ownership is beneficial and of record, unless indicated otherwise.
(2)	Beneficial owners listed above have sole voting and investment power with respect to the shares shown, unless otherwise indicated.
(3)	The TAM Irrevocable Trust is an irrevocable trust for the benefit of certain family members of Mr. Carl Palmer. Mr. Palmer disclaims any beneficial ownership or interest in this Trust. Cari Beck, his daughter, is the Trustee of the Trust and has total beneficiary rights, including all voting rights and investment power as the Trustee. The Trust is held in her name (50%) as well as that of Lindsay Helvey (25%) and Casey Helvey (25%), both granddaughters.
(4)	There are no other financial instruments, including stock warrants, etc. that are issuable within sixty days from the filing of this document.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The Company paid consulting fees to the Company's primary shareholder (the TAM Irrevocable Trust (TAM Trust), in which Cari Beck is the trustee, as well as a daughter of Carl Palmer, an officer and Board member) totaling $0 and $37,350 during the years ended February 28, 2018 and 2017, respectively, which are included as a component of selling, general and administrative expenses on the consolidated statements of operations.

During the years ended February 28, 2018 and February 28, 2017, TAM Trust purchased, on behalf of the Company, $132,488 and $76,704, respectively, of raw materials from a vendor with which it already had a business relationship.

The Company had advanced amounts to employees of approximately $35,007 and $27,200 as of February 28, 2018 and February 28, 2017. These amounts are being repaid through direct payroll withdrawals

Mr. Gary Hess, a Director, received a total of $22,651 and $12,500 as of February 28,2018 and February 28, 2017, respectively under a royalty agreement based upon his licensing to Seychelle of certain products owned by him.

The Company paid commission to Carl Palmer's brother-in-law for sourcing raw materials with third-party vendors in China. The Company paid approximately $63,427 and $18,000 in direct commissions to the related party during the fiscal years ended February 28, 2018 and February 28, 2017, respectively.

The Company had receivable from shareholders of $6,407 and $0 as of February 28,2018 and February 28, 2017, respectively.

The Company had sales to two companies related to a member of the Board of Directors. Specifically, sales to Sovereign Earth, LLC (dba Revolve) totaled approximately $636,000 and $265,000 for fiscal years February 28, 2018 and February 28, 2017, respectively and sales to Amazon Seychelle totaled approximately $24,000 and $0 for fiscal years February 28, 2018 and February 28, 2017, respectively. Sovereign Earth, LLC (dba Revolve) shall be the sole and exclusive seller of the following products in worldwide markets, including Amazon World Marketplaces: amazon.com, amazon.co uk, amazon.de, amazon.fr, amazon.jp, amazon, it, amazon.ca, amazon.cn, amazon.in, and amazon.com.mx for the duration of the agreement: Generation#1 Filter Pitcher: All filter iterations (regular, standard, advanced, radiological, extreme, supreme, etc.)

ITEM 14: PRINCIPAL ACCOUNTANT FEES AND SERVICES

On August 26, 2016, our Board of Directors voted to dismiss our independent registered public accounting firm, Ramirez Jimenez International CPAs ("RJI"), of Irvine, California and to replace them with Squar Milner LLP ("SM") of Newport Beach, California. As of that date, SM formally accepted us as a client for the audit of our consolidated financial statements for the fiscal year ending February 28, 2017 which will be included in our annual report to be reported on Form 10-K. RJI has previously rendered opinions on our consolidated financial statements for the fiscal years ended February, 2011 through 2016.

Our Board of Directors does not have an audit committee. The functions customarily delegated to an audit committee are performed by our full Board of Directors. Our Board of Directors approves in advance, all services performed by SM and RJI (prior to their dismissal). Our Board of Directors considers whether the provision of non-audit services is compatible with maintaining the principal accountant's independence.

The following table sets forth fees billed by RJI and SM during the last two fiscal years for services rendered for the audit of our annual consolidated financial statements and the review of our quarterly financial statements, services by our independent registered public accounting firm that are reasonably related to the performance of the audit or review of our consolidated financial statements and that are not reported as audit fees, services rendered in connection with tax compliance, tax advice and tax planning, and all other fees for services rendered.

	February 28,			February 28,
	2018			2017
Audit fees		$	68,080		$	195,400
Audit related fees			-			-
Tax fees			10,500			12,300
All other fees		$	46,132		$	49,100

Audit fees. The audit fees in fiscal 2018 and 2017 $68,080 and $195,400, respectively, related to the audit of our consolidated financial statements, and quarterly reviews.

Tax fees. The tax fee in fiscal 2018 and 2017 $10,500 and $12,300 respectively related to professional services rendered for tax compliance, tax advice and tax planning.

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Exhibits

Exhibit No.	Description
2A*	Plan of Exchange between Seychelle Environmental Technologies, Inc. and Seychelle Water Technologies, Inc. dated January 30, 1998 as filed with Form 10-SB 12 G on February 8, 2000.
3A*	Articles of Incorporation dated January 23, 1998 as filed with Form 10-SB 12 G on February 8, 2000.
3B*	Articles of Merger of Royal Net, Inc. into Seychelle Environmental Technologies, Inc as filed with Form 10-SB 12 G on February 8, 2000.
3C*	Amendment to Articles of Incorporation re: Series "A" Preferred Stock as of January 31, 1998 as filed with Form 10-SB 12 G on February 8, 2000.
3D*	Amendment to Articles of Incorporation re: Series "AA" Preferred Stock as of June 5, 1998 as filed with Form 10-SB 12 G on February 8, 2000.
3E*	Amendment to Articles of Incorporation re: Series "AAA" Preferred Stock as of February 18, 1999 as filed with Form 10-SB 12 G on February 8, 2000.
3F*	Bylaws as filed with Form 10-SB 12 G on February 8, 2000.
10A*	Purchase Agreement with Aqua Vision as filed with Form 10-SB 12 G on February 8, 2000.
10B*	Amended Purchase Agreement with Aqua Vision as filed with Form 10-SB 12 G on February 8, 2000.
10C*	2000 Stock Compensation Plan I, dated July 1, 2000 as filed with Registration Statement on Form S-8 on August 31, 2000.
10D*	2002 Stock Compensation Plan I, dated February 12, 2002 as filed with Registration Statement on Form S-8 on February 27, 2002.
10E*	Purchase Agreement with Aqua Gear as filed with Annual Report on Form 10-K on June 14, 2002.
10F*	Employment Contract with Carl Palmer as filed with Annual Report on Form 10-K on June 14, 2002.
10G*	Management Consulting Contract with Richard Parsons
10H*	Management Consulting Contract with James Place
10I*	Joint Venture Agreement with Huanghua Plastic Co. Ltd. dated September 1, 2005
10J*	ABMS Health Care Pvt. Ltd. Distribution Rights Agreement dated April 1, 2006
10K*	Confident, Inc. Exclusive Distribution Rights Agreement dated January 1, 2006

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Exhibit No.	Description
10L*	Continental Technologies. Inc., Purchase Agreement dated April 26, 2006
10M*	Promissory Note to TAM Irrevocable Trust dated May 1, 2001
10N*	Promissory Note to TAM Irrevocable Trust dated February 28, 2002
10O*	Promissory Note to TAM Irrevocable Trust dated February 28, 2003
10P*	Promissory Note to TAM Irrevocable Trust dated November 1, 2003
10Q*	Promissory Note to TAM Irrevocable Trust dated February 28, 2004
10R*	Food For Health Purchase Agreement
10S*	Food For Health Distribution Agreement
10T*	Seychelle Environmental Technologies, Inc. License Agreement with Mr. Gary Hess
10U*	Employment Agreement with Mr. Carl Palmer
10V*	Employment Agreement with Mr. James Place
21*	Subsidiaries
31.1**	Certification of the Chief Executive/Financial Officer pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes Oxley Act of 2002)
32.1**	Certification of the Chief Executive/Financial Officer pursuant to 18 U.S.C.ss.1350 (Section 906 of the Sarbanes-Oxley Act of 2002)
99*	Code of Ethics for Chief Executive Officer and Senior Financial Officers

___________________

* Previously filed with the Securities and Exchange Commission as indicated and incorporated by reference herein ** Attached hereto

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SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	SEYCHELLE ENVIRONMENTAL TECHNOLOGIES, INC.
Date: June 8, 2018	By:	/s/ Carl Palmer
		Carl Palmer Chief Executive Officer and Chief Financial Officer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/ Carl Palmer
Carl Palmer, Director	,	June 8, 2018

/s/ John Beck John Beck, Director June 8, 2018

/s/ Cari Beck John Beck, Director June 8, 2018

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