Quarterly report pursuant to Section 13 or 15(d)

Other Long Term Assets - Schedule of Other Long Term Assets (Details)

v3.6.0.2
Other Long Term Assets - Schedule of Other Long Term Assets (Details) - USD ($)
Dec. 31, 2016
Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Investment [1] $ 1,975,527 $ 720,350
Long Term Security Deposits 79,411 122,203
Total $ 2,054,938 $ 842,553
[1] (1) Investment under cost method • On March 2, 2016, the Company purchased a 4.9% interest in eeGeo a non-public company for $1,111,111. The Company paid $555,556 at the initial closing and $555,555 on September 1, 2016. NetSol PK, the subsidiary of the Company, purchased a 12.2% investment in eeGeo, for $2,777,778 which will be earned over future periods by providing IT and enterprise software solutions. Per the agreement, NetSol PK is to provide a minimum of $200,000 of services in each three-month period and the entire balance is required to be provided within three years of the date of the agreement. If NetSol PK fails to provide the future services, it may be required to forfeit the shares back to eeGeo. During the six months ended December 31, 2016, NetSol PK paid $150,000 to eeGeo for its share of investment. During three and six months ended December 31, 2016, NetSol PK provided services valued at $300,963 and $549,621, respectively. As of December 31, 2016, the accumulated balance of services provided was $714,416 which is recorded as investment.