INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2015

INCOME TAXES

Schedule of loss from continuing operations by location, and the provision and benefit for income taxes and the effective tax rate

	2015			2014
U.S. operations	$	(3,635,596	)	$	(6,722,696	)
Foreign operations		(109,090	)		(558,168	)
Loss from operations before tax		(3,744,686	)		(7,280,864	)
Income tax (benefit) expense provision		(160,505	)		(185,473	)
Net Loss	$	(3,584,181	)	$	(7,095,391	)

Schedule of components of the provision (benefit) for income taxes

Current	2015			2014
Federal	$	(121,811	)	$	28,450
State		(38,694	)		702
Foreign		--			(214,625	)
Total Current		(160,505	)		(185,473	)
Deferred
Federal		--			--
State		--			--
Foreign		--			--
Total Deferred		--			--
Income tax benefit provision	$	(160,505	)	$	(185,473	)

Schedule of reconciliation between income taxes computed at the federal statutory rate to the effective income tax rates applied to the net loss reported in the Consolidated Statements of Operations and Other Comprehensive Loss

	2015		2014
Federal statutory income tax rate	34	%		34	%
State income tax, net of federal benefit	1	%		--	%
Change in valuation allowance	(32)	%		(32)	%
Stock based compensation	(2)	%		(1)	%
Other	3	%		2	%
Effective income tax rate	4	%		3	%

Summary of the components of deferred income tax assets and liabilities

Current Deferred Tax Assets:	2015			2014
Compensation	$	152,265		$	32,965
Allowance for doubtful accounts		9,591			9,866
Loss on uncompleted contracts		958,682			1,272,070
Net operating loss carryforward		--			30,145
Foreign currency translation adjustment		5,455			95,479
Other liabilities not currently deductible		306,479			310,089
Valuation allowance		(605,775	)		(759,518	)
Total Current Deferred Tax Asset	$	826,697		$	991,096
Noncurrent Deferred Tax Asset (Liability):
Share based compensation awards		391,039			369,880
Net operating loss carryforward		5,013,024			3,315,221
Valuation allowance		(5,367,054	)		(3,647,070	)
Total Noncurrent Deferred Tax Assets	$	37,009		$	38,031
Accelerated depreciation		(863,706	)		(1,029,127	)
Net Noncurrent Deferred Tax Asset (Liability)	$	(826,697	)	$	(991,096	)
Net Deferred Tax Asset	$	--		$	--

Summary of carryforwards of net operating losses and tax credits

The following table summarizes carryforwards of net operating losses and tax credits as of March 31, 2015:

	Amount		Begins to Expire:
Federal net operating losses	$	9,579,845		2025
Federal alternative minimum tax credits	$	76,185	Indefinite
State net operating losses	$	26,866,174		2032

Schedule of reconciliation of unrecognized tax benefits

Unrecognized tax benefits at March 31, 2014	$	17,206
Increases based on tax positions related to 2015		--
Increases based on tax positions prior to 2015		357
Decreases from expiration of statute of limitations		8,465
Unrecognized tax benefits at March 31, 2015	$	9,098