Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.19.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jul. 02, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Current assets:                  
Cash and cash equivalents $ 17,014,590     $ 22,088,853 $ 22,088,853        
Accounts receivable, net of allowance of $373,329 and $610,061 15,971,676     12,775,461 12,775,461        
Accounts receivable, net - related party 3,012,133     3,374,272 3,374,272        
Revenues in excess of billings 13,381,205     6,956,966 14,285,778        
Revenues in excess of billings - related party 61,822              
Convertible note receivable - related party 3,250,000     2,123,500 2,123,500        
Other current assets 3,593,057     2,703,032 2,703,032        
Total current assets 56,284,483     50,022,084 57,350,896        
Revenues in excess of billings, net - long term     1,206,669        
Property and equipment, net 14,374,262     16,165,491 16,165,491        
Long term investment 2,501,299     3,217,162 3,217,162        
Other assets 23,994     70,299 70,299        
Intangible assets, net 9,042,726     12,247,196 12,247,196        
Goodwill 9,516,568     9,516,568 9,516,568        
Total assets 91,743,332     91,238,800 99,774,281        
Current liabilities:                  
Accounts payable and accrued expenses 6,881,435     7,873,809 7,873,809        
Current portion of loans and obligations under capitalized leases 8,111,332     8,595,919 8,595,919        
Unearned revenues 6,241,741     6,167,755 5,949,581        
Common stock to be issued 88,324     88,324 88,324        
Total current liabilities 21,322,832     22,725,807 22,507,633        
Loans and obligations under capitalized leases; less current maturities 716,563     330,596 330,596        
Total liabilities 22,039,395     23,056,403 22,838,229        
Commitments and contingencies            
Stockholders' equity:                  
Preferred stock, $.01 par value; 500,000 shares authorized;            
Common stock, $.01 par value; 14,500,000 shares authorized; 11,879,056 shares issued and 11,673,203 outstanding as of March 31, 2019 and 11,708,469 shares issued and 11,502,616 outstanding as of June 30, 2018 118,791     117,085 117,085        
Additional paid-in-capital 127,551,606     126,479,147 126,479,147        
Treasury stock (At cost, 205,853 shares and 205,853 shares as of March 31, 2019 and June 30, 2018, respectively) (1,205,024)     (1,205,024) (1,205,024)        
Accumulated deficit (38,704,519)     (43,790,297) (37,994,502)        
Stock subscription receivable (221,000)     (221,000) (221,000)        
Other comprehensive loss (28,474,832)     (24,386,071) (24,386,071)        
Total NetSol stockholders' equity 59,065,022     56,993,840 62,789,635        
Non-controlling interest 10,638,915     11,188,557 14,146,417        
Total stockholders' equity 69,703,937 $ 67,909,873 $ 69,448,646 68,182,397 76,936,052 $ 78,811,420 $ 76,422,386 $ 77,287,574 $ 78,193,553
Total liabilities and stockholders' equity $ 91,743,332     $ 91,238,800 $ 99,774,281