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INVENTORIES

9 Months Ended

Nov. 30, 2011

NOTE 3 – INVENTORIES

Inventories, stated at the lower of cost (first in first out), or market consisted of the following:

	November 30, 2011			February 28, 2011

Raw materials	$	2,373,318		$	2,394,502
Finished goods		2,611,942			2,985,902
		4,985,260			5,380,404
Reserve for potential product obsolescence		(1,822,517	)		(1,991,241	)
		3,162,743			3,389,163
Non-current portion		(2,032,979	)		(2,274,013	)
Discount on long term inventory		(129,764	)		(115,150	)
Current portion	$	1,000,000		$	1,000,000

We assessed the net realize-ability and the related potential obsolescence of inventory. In accordance with this assessment, management has recorded a reserve of $1,822,517 and $1,991,241 as of November 30 and February 28, 2011, respectively. Management has also recorded a discount on long term inventory of $129,764 and $115,150 as of November 30, 2011 and February 28, 2011, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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