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PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)
 12 Months Ended
Feb. 28, 2013
PREPAID EXPENSES AND OTHER CURRENT ASSETS  
Schedule of prepaid expenses and other current assets

 

 

 

 

As of

 

As of

 

 

 

February 29,

 

February 28,

 

 

 

2012

 

2013

 

Prepaid rent

 

$

3,988,593

 

$

5,017,135

 

Prepayments to suppliers (1)

 

1,717,996

 

1,998,710

 

Interest receivable

 

631,510

 

1,505,973

 

Deed tax refund receivable (2)

 

—

 

1,235,622

 

Staff advances

 

559,793

 

654,003

 

Deposit with third parties

 

858,028

 

208,960

 

ADR receivable

 

368,711

 

207,000

 

Study cards receivable

 

312,944

 

122,055

 

Others

 

574,400

 

956,859

 

 

 

$

9,011,975

 

$

11,906,317

 

 

 

(1)                                 Advance payments were primarily for advertising and purchases of property and equipment.

 

(2)                                 According to the Caishui [2001] No 156, Beijing Haidian School is entitled to enjoy the deed tax exemption on purchasing the buildings for educational services purpose. Deed tax refund receivable was recorded upon the confirmation and approval from related tax authority during the year ended February 28, 2013.