Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Jun. 30, 2023
Current assets:    
Cash and cash equivalents $ 19,127,165 $ 15,533,254
Accounts receivable, net of allowance of $398,809 and $420,354 13,049,614 11,714,422
Revenues in excess of billings, net of allowance of $116,148 and $1,380,141 12,684,518 12,377,677
Other current assets 2,600,786 1,978,514
Total current assets 47,462,083 41,603,867
Revenues in excess of billings, net - long term 954,029
Property and equipment, net 5,106,842 6,161,186
Right of use assets - operating leases 1,328,624 1,151,575
Other assets 32,340 32,327
Intangible assets, net 127,931
Goodwill 9,302,524 9,302,524
Total assets 64,186,442 58,379,410
Current liabilities:    
Accounts payable and accrued expenses 8,232,342 6,552,181
Current portion of loans and obligations under finance leases 6,276,125 5,779,510
Current portion of operating lease obligations 608,202 505,237
Unearned revenue 8,752,153 7,932,306
Total current liabilities 23,868,822 20,769,234
Loans and obligations under finance leases; less current maturities 95,771 176,229
Operating lease obligations; less current maturities 688,749 652,194
Total liabilities 24,653,342 21,597,657
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,359,922 shares issued and 11,420,891 outstanding as of June 30, 2024 , 12,284,887 shares issued and 11,345,856 outstanding as of June 30, 2023 123,602 122,850
Additional paid-in-capital 128,783,865 128,476,048
Treasury stock (at cost, 939,031 shares as of June 30, 2024 and June 30, 2023) (3,920,856) (3,920,856)
Accumulated deficit (44,212,313) (44,896,186)
Other comprehensive loss (45,935,616) (45,975,156)
Total NetSol stockholders’ equity 34,838,682 33,806,700
Non-controlling interest 4,694,418 2,975,053
Total stockholders’ equity 39,533,100 36,781,753
Total liabilities and stockholders’ equity $ 64,186,442 $ 58,379,410