ACCRUED EXPENSES

9 Months Ended

Nov. 30, 2014

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

Accrued expenses consisted of the following:

	November 30, 2014		February 28, 2014
Accrued payroll and related expenses	$	2,839,760	$	2,729,944
Accrued rent		214,048		198,111
Accrued interest		997,876		456,803
Other		2,685		1,079
Total	$	4,048,999	$	3,385,937

Accrued payroll and related expenses consisted primarily of salaries accrued but not paid to certain employees. As of November 30, 2014 and February 28, 2014, these amounts total $2,430,918 and $2,113,061, respectively. Also included in this amount is accrued vacation expense of $408,843 and $418,131 at November 30, 2014 and February 28, 2014, respectively.