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ACCRUED EXPENSES | 12 Months Ended
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Mar. 31, 2014
ACCRUED EXPENSES |
ACCRUED EXPENSES | NOTE 7 - ACCRUED EXPENSES Accrued expenses included the following as of March 31:
|  | 2014 |  | 2013 |
Accrued compensation |  | $ | 320,419 |  | $ | 668,038 |
Interest rate swaps market value |  | 231,783 |  | 388,982 |
Provision for contract losses |  | 3,259,103 |  | 270,172 |
Other |  | 81,723 |  | 547,732 |
Total |  | $ | 3,893,028 |  | $ | 1,874,924 |
Our loss provision includes approximately $2.7 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 (See Note 19).

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