COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables)

9 Months Ended

Dec. 31, 2013

COSTS INCURRED ON UNCOMPLETED CONTRACTS

Schedule of costs incurred on uncompleted contracts

	December 31, 2013			March 31, 2013
Cost incurred on uncompleted contracts, beginning balance	$	6,180,839		$	10,879,743
Total cost incurred on contracts during the period	14,198,622			21,215,441
Less cost of sales, during the period	(15,539,675		)	(25,914,345		)
Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
Billings on uncompleted contracts, beginning balance	$	1,882,546		$	6,969,717
Plus: Total billings incurred on contracts, during the period	17,066,553			27,385,748
Less: Contracts recognized as revenue, during the period	(17,459,861		)	(32,472,919		)
Billings on uncompleted contracts, ending balance	$	1,489,238		$	1,882,546
Cost incurred on uncompleted contracts, ending balance	$	4,839,786		$	6,180,839
Billings on uncompleted contracts, ending balance	1,489,238			1,882,546
Costs incurred on uncompleted contracts, in excess of progress billings	$	3,350,548		$	4,298,293