Quarterly report pursuant to Section 13 or 15(d)

Accounting Policies - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details)

v3.19.1
Accounting Policies - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Mar. 31, 2019
Mar. 31, 2018
Jul. 02, 2018
Jun. 30, 2018
Jun. 30, 2017
Cash and cash equivalents $ 17,014,590           $ 17,014,590   $ 22,088,853 $ 22,088,853  
Accounts receivable, net of allowance 15,971,676           15,971,676   12,775,461 12,775,461  
Accounts receivable, net - related party 3,012,133           3,012,133   3,374,272 3,374,272  
Revenues in excess of billings 13,381,205           13,381,205   6,956,966 14,285,778  
Revenues in excess of billings - related party 61,822           61,822      
Convertible note receivable - related party 3,250,000           3,250,000   2,123,500 2,123,500  
Other current assets 3,593,057           3,593,057   2,703,032 2,703,032  
Total current assets 56,284,483           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           14,374,262   16,165,491 16,165,491  
Long term investment 2,501,299           2,501,299   3,217,162 3,217,162  
Other assets 23,994           23,994   70,299 70,299  
Intangible assets, net 9,042,726           9,042,726   12,247,196 12,247,196  
Goodwill 9,516,568           9,516,568   9,516,568 9,516,568  
Total assets 91,743,332           91,743,332   91,238,800 99,774,281  
Accounts payable and accrued expenses 6,881,435           6,881,435   7,873,809 7,873,809  
Current portion of loans and obligations under capitalized leases 8,111,332           8,111,332   8,595,919 8,595,919  
Unearned revenues 6,241,741           6,241,741   6,167,755 5,949,581  
Common stock to be issued 88,324           88,324   88,324 88,324  
Total current liabilities 21,322,832           21,322,832   22,725,807 22,507,633  
Loans and obligations under capitalized leases; less current maturities 716,563           716,563   330,596 330,596  
Total liabilities 22,039,395           22,039,395   23,056,403 22,838,229  
Commitments and contingencies              
Preferred stock, value              
Common stock, value 118,791           118,791   117,085 117,085  
Additional paid-in-capital 127,551,606           127,551,606   126,479,147 126,479,147  
Treasury stock (1,205,024)           (1,205,024)   (1,205,024) (1,205,024)  
Accumulated deficit (38,704,519)           (38,704,519)   (43,790,297) (37,994,502)  
Stock subscription receivable (221,000)           (221,000)   (221,000) (221,000)  
Other comprehensive loss (28,474,832)           (28,474,832)   (24,386,071) (24,386,071)  
Total NetSol stockholders' equity 59,065,022           59,065,022   56,993,840 62,789,635  
Non-controlling interest 10,638,915           10,638,915   11,188,557 14,146,417  
Total stockholders' equity 69,703,937 $ 67,909,873 $ 69,448,646 $ 78,811,420 $ 76,422,386 $ 77,287,574 69,703,937 $ 78,811,420 68,182,397 76,936,052 $ 78,193,553
Total liabilities and stockholders' equity 91,743,332           91,743,332   $ 91,238,800 99,774,281  
Total net revenues 17,127,055     17,043,820     50,526,227 44,309,031      
Salaries and consultants 4,833,611     5,418,067     14,351,227 16,244,319      
Travel 1,793,964     425,060     4,652,143 1,226,073      
Depreciation and amortization 874,654     1,127,077     2,692,306 3,468,293      
Other 1,067,506     880,897     3,176,602 2,677,465      
Total cost of revenues 8,569,735     7,851,101     24,872,278 23,616,150      
Gross profit 8,557,320     9,192,719     25,653,949 20,692,881      
Selling and marketing 1,864,990     1,962,402     5,614,619 5,605,838      
Depreciation and amortization 252,442     231,308     658,453 699,966      
General and administrative 3,833,209     4,048,271     12,241,988 11,862,535      
Research and development cost 513,770     197,643     1,256,577 572,619      
Total operating expenses 6,464,411     6,439,624     19,771,637 18,740,958      
Income from operations 2,092,909     2,753,095     5,882,312 1,951,923      
Gain (loss) on sale of assets 16,380     40,537     65,170 24,468      
Interest expense (70,447)     (102,522)     (233,685) (330,268)      
Interest income 201,084     142,356     680,469 394,837      
Gain on foreign currency exchange transactions 47,218     2,550,394     2,594,885 5,304,723      
Share of net loss from equity investment (245,389)     (263,678)     (843,373) (534,576)      
Other income 3,116     314     12,998 15,924      
Total other income (expenses) (48,038)     2,367,401     2,276,464 4,875,108      
Net income before income taxes 2,044,871     5,120,496     8,158,776 6,827,031      
Income tax provision (275,476)     (261,182)     (777,262) (486,980)      
Net income 1,769,395 $ 4,330,984 1,281,135 4,859,314 $ 1,662,002 (181,265) 7,381,514 6,340,051      
Non-controlling interest (501,835)     (1,994,869)     (2,295,736) (3,210,683)      
Net income (loss) attributable to NetSol $ 1,267,560     $ 2,864,445     $ 5,085,778 $ 3,129,368      
Net income (loss) per common share Basic $ 0.11     $ 0.26     $ 0.44 $ 0.28      
Net income (loss) per common share Diluted $ 0.11     $ 0.25     $ 0.44 $ 0.28      
Weighted average number of shares outstanding Basic 11,656,098     11,190,048     11,580,066 11,118,529      
Weighted average number of shares outstanding Diluted 11,691,342     11,268,842     11,615,310 11,152,365      
Depreciation and amortization             $ 3,350,759 $ 4,168,259      
Share of net loss from investment under equity method             843,373 534,576      
Stock based compensation $ 110,939     $ 448,221     980,682 1,281,763      
Fair market value of stock options granted             43,612      
Accounts receivable             (4,249,540) (17,848,921)      
Accounts receivable - related party             (461,435) (2,634,063)      
Revenues in excess of billing             6,862,451 (5,904,161)      
Revenues in excess of billing - related party             (97,359) (85,743)      
Other current assets             (1,189,909) (796,126)      
Accounts payable and accrued expenses             (540,615) 1,139,509      
Unearned revenue             611,157 4,273,007      
Net cash used in operating activities             (255,382) 2,252,005      
Purchases of property and equipment             (2,590,302) (1,107,732)      
Sales of property and equipment             1,005,214 348,762      
Convertible note receivable - related party             (1,126,500) (550,000)      
Net cash used in investing activities             (2,711,588) (1,392,957)      
Proceeds from the exercise of stock options and warrants             85,000 215,311      
Proceeds from exercise of subsidiary options                2,650 10,349      
Dividend paid by subsidiary to non-controlling interest             (566,465) (417,853)      
Proceeds from bank loans             1,337,092 696,936      
Payments on capital lease obligations and loans - net             (298,610) (961,901)      
Net cash provided by financing activities             559,667 (1,117,872)      
Effect of exchange rate changes             (2,666,960) (1,202,147)      
Net increase in cash and cash equivalents             (5,074,263) (1,460,971)      
Cash and cash equivalents at beginning of the period     22,088,853     $ 14,172,954 22,088,853 14,172,954      
Cash and cash equivalents at end of period 17,014,590     $ 12,711,983     17,014,590 $ 12,711,983      
License Fees [Member]                      
Total net revenues 2,536,320           13,310,002        
Maintenance Fees [Member]                      
Total net revenues 3,562,412           10,735,432        
Services [Member]                      
Total net revenues 10,519,219           25,175,187        
Maintenance Fees - Related Party [Member]                      
Total net revenues 142,344           370,723        
Services - Related Party [Member]                      
Total net revenues 366,760           934,883        
Adjustments [Member]                      
Revenues in excess of billings 7,964,871           7,964,871     (7,328,812)  
Total current assets 7,964,871           7,964,871     (7,328,812)  
Revenues in excess of billings, net - long term 1,370,111           1,370,111     (1,206,669)  
Total assets 9,334,982           9,334,982     (8,535,481)  
Unearned revenues (1,013,469)           (1,013,469)     218,174  
Total current liabilities (1,013,469)           (1,013,469)     218,174  
Total liabilities (1,013,469)           (1,013,469)     218,174  
Commitments and contingencies                
Preferred stock, value                
Accumulated deficit 6,851,550           6,851,550     (5,795,795)  
Total NetSol stockholders' equity 6,851,550           6,851,550     (5,795,795)  
Non-controlling interest 3,496,901           3,496,901     (2,957,860)  
Total stockholders' equity 10,348,451           10,348,451     (8,753,655)  
Total liabilities and stockholders' equity 9,334,982           9,334,982     $ (8,535,481)  
Total net revenues 407,617           764,973        
Salaries and consultants                    
Travel                    
Depreciation and amortization                    
Other                    
Total cost of revenues                  
Gross profit 407,617           764,973        
Selling and marketing                    
Depreciation and amortization                    
General and administrative                    
Research and development cost                    
Total operating expenses                  
Income from operations 407,617           764,973        
Interest expense                    
Interest income 13,474           163,442        
Gain on foreign currency exchange transactions (73,088)           666,381        
Share of net loss from equity investment                    
Other income                    
Total other income (expenses) (59,614)           829,823        
Net income before income taxes 348,003           1,594,796        
Income tax provision                    
Net income 348,003           1,594,796        
Non-controlling interest (117,625)           (539,041)        
Net income (loss) attributable to NetSol $ 230,378           $ 1,055,755        
Net income (loss) per common share Basic $ 0.02           $ 0.09        
Net income (loss) per common share Diluted $ 0.02           $ 0.09        
Weighted average number of shares outstanding Basic 11,656,098           11,580,066        
Weighted average number of shares outstanding Diluted 11,691,342           11,615,310        
Revenues in excess of billing             $ (799,501)        
Unearned revenue             (795,295)        
Net cash used in operating activities                    
Net cash used in investing activities                    
Net cash provided by financing activities                    
Net increase in cash and cash equivalents                    
Cash and cash equivalents at end of period                  
Adjustments [Member] | License Fees [Member]                      
Total net revenues 175,507           175,507        
Adjustments [Member] | Maintenance Fees [Member]                      
Total net revenues 232,110           589,466        
Adjustments [Member] | Services [Member]                      
Total net revenues                  
Adjustments [Member] | Maintenance Fees - Related Party [Member]                      
Total net revenues                  
Adjustments [Member] | Services - Related Party [Member]                      
Total net revenues                  
Balances under Prior GAAP [Member]                      
Cash and cash equivalents 17,014,590           17,014,590        
Accounts receivable, net of allowance 15,971,676           15,971,676        
Accounts receivable, net - related party 3,012,133           3,012,133        
Revenues in excess of billings 21,346,076           21,346,076        
Revenues in excess of billings - related party 61,822           61,822        
Convertible note receivable - related party 3,250,000           3,250,000        
Other current assets 3,593,057           3,593,057        
Total current assets 64,249,354           64,249,354        
Revenues in excess of billings, net - long term 1,370,111           1,370,111        
Property and equipment, net 14,374,262           14,374,262        
Long term investment 2,501,299           2,501,299        
Other assets 23,994           23,994        
Intangible assets, net 9,042,726           9,042,726        
Goodwill 9,516,568           9,516,568        
Total assets 101,078,314           101,078,314        
Accounts payable and accrued expenses 6,881,435           6,881,435        
Current portion of loans and obligations under capitalized leases 8,111,332           8,111,332        
Unearned revenues 5,228,272           5,228,272        
Common stock to be issued 88,324           88,324        
Total current liabilities 20,309,363           20,309,363        
Loans and obligations under capitalized leases; less current maturities 716,563           716,563        
Total liabilities 21,025,926           21,025,926        
Commitments and contingencies                  
Preferred stock, value                  
Common stock, value 118,791           118,791        
Additional paid-in-capital 127,551,606           127,551,606        
Treasury stock (1,205,024)           (1,205,024)        
Accumulated deficit (31,852,969)           (31,852,969)        
Stock subscription receivable (221,000)           (221,000)        
Other comprehensive loss (28,474,832)           (28,474,832)        
Total NetSol stockholders' equity 65,916,572           65,916,572        
Non-controlling interest 14,135,816           14,135,816        
Total stockholders' equity 80,052,388           80,052,388        
Total liabilities and stockholders' equity 101,078,314           101,078,314        
Total net revenues 17,534,672           51,291,200        
Salaries and consultants 4,833,611           14,351,227        
Travel 1,793,964           4,652,143        
Depreciation and amortization 874,654           2,692,306        
Other 1,067,506           3,176,602        
Total cost of revenues 8,569,735           24,872,278        
Gross profit 8,964,937           26,418,922        
Selling and marketing 1,864,990           5,614,619        
Depreciation and amortization 252,442           658,453        
General and administrative 3,833,209           12,241,988        
Research and development cost 513,770           1,256,577        
Total operating expenses 6,464,411           19,771,637        
Income from operations 2,500,526           6,647,285        
Gain (loss) on sale of assets 16,380           65,170        
Interest expense (70,447)           (233,685)        
Interest income 214,558           843,911        
Gain on foreign currency exchange transactions (25,870)           3,261,266        
Share of net loss from equity investment (245,389)           (843,373)        
Other income 3,116           12,998        
Total other income (expenses) (107,652)           3,106,287        
Net income before income taxes 2,392,874           9,753,572        
Income tax provision (275,476)           (777,262)        
Net income 2,117,398           8,976,310        
Non-controlling interest (619,460)           (2,834,777)        
Net income (loss) attributable to NetSol $ 1,497,938           $ 6,141,533        
Net income (loss) per common share Basic $ 0.13           $ 0.53        
Net income (loss) per common share Diluted $ 0.13           $ 0.53        
Weighted average number of shares outstanding Basic 11,656,098           11,580,066        
Weighted average number of shares outstanding Diluted 11,691,342           11,615,310        
Depreciation and amortization             $ 3,350,759        
Share of net loss from investment under equity method             843,373        
Stock based compensation             980,682        
Fair market value of stock options granted             43,612        
Accounts receivable             (4,249,540)        
Accounts receivable - related party             (461,435)        
Revenues in excess of billing             (7,661,952)        
Revenues in excess of billing - related party             (97,359)        
Other current assets             (1,189,909)        
Accounts payable and accrued expenses             (540,615)        
Unearned revenue             (184,138)        
Net cash used in operating activities             (255,382)        
Purchases of property and equipment             (2,590,302)        
Sales of property and equipment             1,005,214        
Convertible note receivable - related party             (1,126,500)        
Net cash used in investing activities             (2,711,588)        
Proceeds from the exercise of stock options and warrants             85,000        
Proceeds from exercise of subsidiary options                2,650        
Dividend paid by subsidiary to non-controlling interest             (566,465)        
Proceeds from bank loans             1,337,092        
Payments on capital lease obligations and loans - net             (298,610)        
Net cash provided by financing activities             559,667        
Effect of exchange rate changes             (2,666,960)        
Net increase in cash and cash equivalents             (5,074,263)        
Cash and cash equivalents at beginning of the period     $ 22,088,853       22,088,853        
Cash and cash equivalents at end of period $ 17,014,590           17,014,590        
Balances under Prior GAAP [Member] | License Fees [Member]                      
Total net revenues 2,711,827           13,485,509        
Balances under Prior GAAP [Member] | Maintenance Fees [Member]                      
Total net revenues 3,794,522           11,324,898        
Balances under Prior GAAP [Member] | Services [Member]                      
Total net revenues 10,519,219           25,175,187        
Balances under Prior GAAP [Member] | Maintenance Fees - Related Party [Member]                      
Total net revenues 142,344           370,723        
Balances under Prior GAAP [Member] | Services - Related Party [Member]                      
Total net revenues $ 366,760           $ 934,883