Quarterly report pursuant to Section 13 or 15(d)

OTHER CURRENT ASSETS

v3.22.4
OTHER CURRENT ASSETS
 6 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER CURRENT ASSETS

NOTE 8 - OTHER CURRENT ASSETS

 

Other current assets consisted of the following:

 

    As of     As of  
    December 31, 2022     June 30, 2022  
             
Prepaid Expenses   $ 1,634,444     $ 1,389,370  
Advance Income Tax     240,223       202,783  
Employee Advances     109,972       87,627  
Security Deposits     234,638       236,909  
Other Receivables     52,470       21,581  
Other Assets     476,773       285,091  
Due From Related Party     1,243,633       1,243,633  
Total     3,992,153       3,466,994  
Less allowance for doubtful account     (1,243,633 )     (1,243,633 )
Net Balance   $ 2,748,520     $ 2,223,361  

 

Due from related party is the amount receivable from WRLD3D for which the Company has provided an allowance for credit loss for the full amount, leaving a net balance of $0.

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

December 31, 2022

(Unaudited)