ACCRUED EXPENSES

9 Months Ended

Nov. 30, 2011

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE 8 - ACCRUED EXPENSES

Accrued expenses consisted of the following:

	November 30, 2011		February 28, 2011
Accrued payroll and related expenses	$	861,740	$	2,520,107
Accrued interest		-		112,749
Other		43,325		-
Total	$	905,065	$	2,632,856

Accrued payroll and related expenses consisted primarily of salaries accrued but not paid to certain employees. As of November 30, 2011 and February 28, 2011, these amounts total $524,989 and $1,889,420, respectively. Also included in this amount is accrued vacation expense of $243,948 and $584,065 at November 30, 2011 and February 28, 2011, respectively.