ACCRUED EXPENSES

9 Months Ended

Nov. 30, 2012

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

Accrued expenses consisted of the following:

	November 30, 2012		February 29, 2012
Accrued payroll and related expenses	$	1,444,957	$	993,652
Accrued interest		17,880		82
Other		10,305		26,225
Total	$	1,473,142	$	1,019,959

Accrued payroll and related expenses consisted primarily of salaries accrued but not paid to certain employees. As of November 30, 2012 and February 29, 2012, these amounts total $907,651 and $524,989, respectively. Also included in this amount is accrued vacation expense of $412,172 and $306,562 at November 30, 2012 and February 29, 2012, respectively.