COSTS INCURRED ON UNCOMPLETED CONTRACTS (Tables)

12 Months Ended

Mar. 31, 2015

COSTS INCURRED ON UNCOMPLETED CONTRACTS

Schedule of costs incurred on uncompleted contracts

	2015			2014
Cost incurred on uncompleted contracts, beginning balance	$	9,960,072		$	6,180,839
Total cost incurred on contracts during the year		10,034,158			25,579,089
Less cost of sales, during the year		(15,925,742	)		(21,799,856	)
Cost incurred on uncompleted contracts, ending balance	$	4,068,488		$	9,960,072
Billings on uncompleted contracts, beginning balance	$	4,702,070		$	1,882,546
Plus: Total billings incurred on contracts, during the year		15,591,388			23,887,587
Less: Contracts recognized as revenue, during the year		(18,233,214	)		(21,068,063	)
Billings on uncompleted contracts, ending balance	$	2,060,244		$	4,702,070
Cost incurred on uncompleted contracts, ending balance	$	4,068,488		$	9,960,072
Billings on uncompleted contracts, ending balance		2,060,244			4,702,070
Costs incurred on uncompleted contracts, in excess of progress billings	$	2,008,244		$	5,258,002