ACCRUED EXPENSES

12 Months Ended

Mar. 31, 2017

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 7 - ACCRUED EXPENSES

Accrued expenses included the following as of March 31:  

	2017		2016
Accrued compensation	$	568,766	$	872,114
Provision for contract losses		148,699		464,785
Accrued interest expense		9,155		296,344
Accrued professional fees		142,648		117,981
Other		24,147		53,261
Total	$	893,415	$	1,804,485

Accrued compensation includes amounts for executive bonuses, payroll and vacation and holiday pay. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in the provision are recorded in cost of sales. Our contract loss provision at March 31, 2016 included approximately $0.5 million for estimated contract losses in connection with a certain customer purchase agreement.