Fair Value Measurements

3 Months Ended

Jun. 30, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

(15) Fair Value Measurements

Liabilities measured at fair value on a recurring basis as of June 30, 2013 are summarized below:

			Fair Value at Reporting Date Using
			Quoted Prices
			In Active		Significant
			Markets		Other		Significant
			For Identical		Observable		Unobservable
			Liabilities		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Deferred compensation under
executive employment agreements (1)	$	646,294		-		-		646,294
Note (1) $524,000 included in current liabilities and $122,294 included in long term liabilities on our consolidated condensed balance sheet as of June 30, 2013.

Liabilities measured at fair value on a recurring basis as of March 31, 2013 are summarized below:

			Fair Value at Reporting Date Using
			Quoted Prices
			In Active		Significant
			Markets		Other		Significant
			For Identical		Observable		Unobservable
			Liabilities		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Deferred compensation under
executive employment agreements (1)	$	627,412		-		-		627,412
Note (1) $524,000 included in current liabilities and $103,412 included in long term liabilities on our consolidated condensed balance sheet as of March 31, 2013.

Deferred compensation under executive employment agreements represents the future compensation potentially payable under the retirement and voluntary termination provisions of executive employment agreements.  The value of the Level 3 liability in the foregoing table was determined using a discounted cash flow model with a discount rate of 14 percent based on the expected cost of capital for the Company.

A summary of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follows:

	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	As of and for the Quarter Ended
	June 30, 2013		June 30, 2012
	Deferred		Deferred
	Compensation		Compensation
	Under Executive		Under Executive
	Employment		Employment
	Agreements		Agreements
Balance at beginning of quarter	$	627,412		715,107
Transfers into of Level 3		-		-
Transfers out of Level 3		-		-
Total gains or losses (realized and unrealized):
Included in earnings		18,882		26,142
Included in other comprehensive income		-		-
Settlements		-		(152,007)
Balance at the end of quarter	$	646,294		589,242
Loss for the quarter included in earnings attributable
to the Level 3 liability still held at the end of the quarter	$	18,882		26,142