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Employee Benefit Plans
12 Months Ended
Feb. 28, 2015
Employee Benefit Plans [Abstract]  
EMPLOYEE BENEFIT PLANS

NOTE 13 - EMPLOYEE BENEFIT PLANS

 

We sponsor two employee benefit plans: The Employee Stock Ownership Plan (the “ESOP”) and a 401(k) plan.

 

The ESOP is a qualified discretionary employee stock ownership plan that covers substantially all employees. We did not make any contributions to the ESOP during the years ended February 28, 2015 and February 28, 2014, respectively.

 

We sponsor a voluntary, defined contribution 401(k) plan. The plan provides for salary reduction contributions by employees and matching contributions by us of 100% of the first 4% of the employees’ pre-tax contributions. The matching contributions included in expense were $31,766 and $73,804 for the years ended February 28, 2015 and February 28, 2014, respectively.