Other Current Liabilities

9 Months Ended

Dec. 31, 2013

Other Current Liabilities [Abstract]

(7) Other current liabilities at December 31, 2013 and March 31, 2013 consist of:


	December 31, 2013		March 31, 2013
Accrued payroll and employee benefits	$	64,024	$	174,135
Accrued personal property and real estate taxes		313,243		264,814
Accrued warranty costs		168,587		77,393
Unearned revenue		60,512		71,442
Accrued royalties		48,336		48,336
Accrued import duties		87,100		813,740
Accrued vendor settlements		916,809		1,050,000
Other		7,503		99,575
	$	1,666,114	$	2,599,435

In the third quarter of fiscal year 2013, we recorded a liability of $813,740 to accrue for potential import duties for products purchased from China. We appealed to the Department of Commerce and sought to have the duty fees reduced. In December, 2013, the Department of Commerce issued a ruling that significantly reduced the amount of duties owed. Therefore, in the quarter ended December 31, 2013, we reduced our accrual for import duties by $726,640 to $87,100 reflecting the amount now owed.