ACCRUED EXPENSES

3 Months Ended

May 31, 2014

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

Accrued expenses consisted of the following:

	May 31, 2014		February 28, 2014
Accrued payroll and related expenses	$	2,345,331	$	2,729,944
Accrued rent		205,354		198,111
Accrued interest		642,445		456,801
Other		-		1,079
Total	$	3,193,130	$	3,385,937

Accrued payroll and related expenses consisted primarily of salaries accrued but not paid to certain employees. As of May 31, 2014 and February 28, 2014, these amounts total $1,911,381 and $2,113,061, respectively. Also included in this amount is accrued vacation expense of $433,950 and $418,131 at May 31, 2014 and February 28, 2014, respectively.