OTHER NONCURRENT ASSETS

9 Months Ended

Dec. 31, 2011

OTHER NONCURRENT ASSETS

OTHER NONCURRENT ASSETS

NOTE 6 – OTHER NONCURRENT ASSETS

Other noncurrent assets are comprised of deferred loan costs and long-term collateral deposits:

	December 31, 2011		March 31, 2011
Collateral deposit	$	224,376	$	—
Deferred loan costs, net of amortization	163,299		181,141
Ending balance	$	387,675	$	181,141

Deferred loan costs represent the capitalization of costs incurred in connection with obtaining bank loans.  These costs are being amortized on a straight-line basis over the term of the related debt obligation.  Amortization of deferred loan costs for the nine months ended December 31, 2011 and 2010 was $17,843 and $9,522, respectively.