ACCRUED EXPENSES

6 Months Ended

Sep. 30, 2014

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 8 – ACCRUED EXPENSES

	September 30, 2014		March 31, 2014
Accrued compensation	$	612,371	$	320,419
Interest rate swaps market value	196,096		231,783
Provision for contract losses	2,682,498		3,259,103
Other	66,064		81,723
Total	$	3,557,029	$	3,893,028

Our loss provision includes approximately $2.4 million for estimated contract losses in connection with a certain customer purchase agreement. We filed a demand for arbitration under the contract to recover damages, together with attorney’s fees, interest and costs subsequent to the customer’s request to reduce the number of units ordered under the purchase agreement. Accrued compensation at September 30, 2014 includes $220,000 of unpaid Executive Chairman compensation and Board of Director fees.