Note 3

9 Months Ended

Nov. 30, 2013

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

Note 3 – Inventories consist of the following:

	2013
	November 30,			February 28,
Current:
Book inventory	$	9,610,100		$	9,749,700
Inventory valuation allowance		(25,000	)		(25,000	)
Inventories net–current	$	9,585,100		$	9,724,700
Non-current:
Book inventory	$	727,000		$	934,000
Inventory valuation allowance		(326,800	)		(375,000	)
Inventories net–non-current	$	400,200		$	559,000

We occasionally purchase book inventory in quantities in excess of what will be sold within the normal operating cycle due to minimum order requirements of our primary supplier.  These amounts are included in non-current inventory.

Significant portions of our inventory purchases are concentrated with an England-based publishing company.  Purchases from this company were approximately $2.6 million and $1.9 million for the three months ended November 30, 2013 and 2012, respectively.  Total inventory purchases from all suppliers were approximately $3.2 million and $2.5 million for the three months ended November 30, 2013 and 2012, respectively.

For the nine-month period ended November 30, 2013 and 2012, respectively, purchases from this company were approximately $6.7 million and $7.0 million.  Total inventory purchases from all suppliers were approximately $8.7 million and $8.9 million for the nine-month period ended November 30, 2013 and 2012, respectively.