Long Term Investment (Details Narrative) - USD ($) |
3 Months Ended | 6 Months Ended | ||||||
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Sep. 02, 2017 |
Mar. 02, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Jul. 02, 2018 |
Jun. 30, 2018 |
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Payments to acquire investment | $ 50,000 | |||||||
Revenue from services | $ 174,492 | $ 315,408 | $ 337,337 | 583,708 | ||||
Qualified financing, description | In connection with the investment, the Company and NetSol PK received a warrant to purchase preferred stock of WRLD3D which included the following key terms and features: The warrants are exercisable into shares of the "Next Round Preferred", only if and when the Next Round Preferred is issued by WRLD3D in a "Qualified Financing". The warrants expire on March 2, 2020. "Next Round Preferred" is defined as occurring if WRLD3D's preferred stock (or securities convertible into preferred stock) are issued in a Qualified Financing that occurs after March 2, 2016. "Qualified Financing" is defined as financing with total proceeds of at least $2 million. The total number of common stock shares to be issued is equal to $1,250,000 divided by the per share price of the Next Round Preferred. The exercise price of the warrants is equal to the greater of a) 70% of the per share price of the Next Round Preferred sold in a Qualified Financing, or b) 25,000,000 divided by the total number of shares of common stock outstanding immediately prior to the Qualified Financing (on a fully-diluted basis, excluding the number of common stock shares issuable upon the exercise of any given warrant). | |||||||
Expiration date of warrant | Mar. 02, 2020 | Mar. 02, 2020 | ||||||
Proceeds from qualified financing | $ 2,000,000 | |||||||
Number of common stock shares issuable amount | $ 1,250,000 | |||||||
Percentage of per share price of next round preferred stock sold in qualified financing | 70.00% | 70.00% | ||||||
Number of shares of common stock outstanding immediately prior the qualified financing | 25,000,000 | 25,000,000 | ||||||
Accounts receivable | $ 525,450 | $ 525,450 | $ 473,218 | |||||
Revenues in excess of billings - related party | 62,323 | 62,323 | ||||||
Share of net loss from equity investment | $ (298,293) | $ (203,336) | $ (597,984) | $ (270,898) | ||||
NetSol PK [Member] | ||||||||
Payments to acquire investment | $ 2,777,778 | |||||||
Purchase of investment, percentage | 12.20% | |||||||
Investment earned | $ 2,777,778 | |||||||
NetSol PK [Member] | Minimum [Member] | ||||||||
Revenue from services | $ 200,000 | |||||||
WRLD3D [Member] | ||||||||
Payments for financial interest | 1,111,111 | |||||||
Payments to acquire investment | $ 555,555 | $ 555,556 | ||||||
WRLD3D [Member] | ||||||||
Percentage of interest in subsidiary | 4.90% |
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- Definition Costs in excess of billings on uncompleted contracts or programs related party expected to be collected within one year. No definition available.
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- Definition Number of shares of common stock outstanding immediately prior to the Qualified Financing. No definition available.
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- Definition Percentage of per share price of next round preferred stock sold in qualified financing. No definition available.
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- Definition Qualified financing, description. No definition available.
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- Definition For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of voting equity interests acquired at the acquisition date in the business combination. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) reported by an equity method investment of the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
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- Definition The cash outflow associated with the acquisition of a controlling interest in another entity or an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow from a financial contract that meets the hedge criteria as either cash flow hedge, fair value hedge or hedge of net investment in foreign operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Expiration date of outstanding warrant and right embodying unconditional obligation requiring redemption by transferring asset at specified or determinable date or upon event certain to occur, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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