COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables)

9 Months Ended

Dec. 31, 2012

COSTS INCURRED ON UNCOMPLETED CONTRACTS

Schedule of costs incurred on uncompleted contracts

	December 31,  2012			March 31,  2012
Cost incurred on uncompleted contracts, beginning balance	$	10,879,743		$	7,958,153
Plus: Total cost incurred on contracts during the period	12,606,514			31,104,174
Less: cost of sales, during the period	(17,590,257		)	(28,182,584		)
Cost incurred on uncompleted contracts, ending balance	$	5,896,000		$	10,879,743
Billings on uncompleted contracts, beginning balance	$	6,969,717		$	5,104,301
Plus: Total billings incurred on contracts, during the period	16,542,765			35,132,194
Less: Contracts recognized as revenue, during the period	(22,518,168		)	(33,266,778		)
Billings on uncompleted contracts, ending balance	$	994,314		$	6,969,717
Cost incurred on uncompleted contracts, ending balance	$	5,896,000		$	10,879,743
Billing on uncompleted contracts, ending balance	(994,314		)	(6,969,717		)
Cost incurred on uncompleted contracts, in excess of progress billings	$	4,901,686		$	3,910,026