Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.19.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Jun. 30, 2019
Current assets:    
Cash and cash equivalents $ 17,621,379 $ 17,366,364
Accounts receivable, net of allowance of $160,396 and $192,786 8,079,537 12,332,714
Accounts receivable, net of allowance of $172,485 and $166,075 - related party 3,225,787 3,266,600
Revenues in excess of billings, net of allowance of $220,820 and $194,684 16,345,384 14,719,047
Revenues in excess of billings - related party 48,145 110,827
Convertible note receivable - related party 4,085,000 3,650,000
Other current assets 3,351,698 3,146,264
Total current assets 52,756,930 54,591,816
Revenues in excess of billings, net - long term 1,246,660 1,281,492
Property and equipment, net 12,478,841 12,096,855
Right-of-use assets - operating leases 2,734,762
Long term investment 2,460,870 2,653,769
Other assets 25,329 23,569
Intangible assets, net 7,159,422 7,332,950
Goodwill 9,516,568 9,516,568
Total assets 88,379,382 87,497,019
Current liabilities:    
Accounts payable and accrued expenses 7,377,985 7,476,560
Current portion of loans and obligations under finance leases 7,097,025 6,905,597
Current portion of operating lease obligations 920,115
Unearned revenues 4,424,652 5,977,736
Common stock to be issued 88,324 88,324
Total current liabilities 19,908,101 20,448,217
Loans and obligations under finance leases; less current maturities 493,403 564,572
Operating lease obligations; less current maturities 1,912,804
Total liabilities 22,314,308 21,012,789
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 11,972,109 shares issued and 11,724,606 outstanding as of September 30, 2019 and 11,911,742 shares issued and 11,664,239 outstanding as of June 30, 2019 119,721 119,117
Additional paid-in-capital 128,052,079 127,737,999
Treasury stock (At cost, 247,503 shares and 247,503 shares as of September 30, 2019 and June 30, 2019, respectively) (1,455,969) (1,455,969)
Accumulated deficit (37,034,845) (35,206,898)
Other comprehensive loss (32,221,661) (33,125,006)
Total NetSol stockholders' equity 57,459,325 58,069,243
Non-controlling interest 8,605,749 8,414,987
Total stockholders' equity 66,065,074 66,484,230
Total liabilities and stockholders' equity $ 88,379,382 $ 87,497,019