ACCRUED EXPENSES

9 Months Ended

Nov. 30, 2013

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

Accrued expenses consisted of the following:

	November 30, 2013		February 28, 2013
Accrued payroll and related expenses	$	2,042,474	$	1,564,496
Accrued rent		145,927		4,292
Accrued interest		79,946		30,867
Other		5,176		2,085
Total	$	2,273,523	$	1,601,740

Accrued payroll and related expenses consisted primarily of salaries accrued but not paid to certain employees. As of November 30, 2013 and February 28, 2013, these amounts total $1,446,640 and $927,984, respectively. Also included in this amount is accrued vacation expense of $462,687 and $411,667 at November 30, 2013 and February 28, 2013, respectively.