Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2024
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 21,270,642 $ 19,127,165
Accounts receivable, net of allowance of $17,028 and $398,809 7,829,823 13,049,614
Revenues in excess of billings, net of allowance of $595,875 and $116,148 10,661,549 12,684,518
Other current assets 3,191,378 2,600,786
Total current assets 42,953,392 47,462,083
Revenues in excess of billings, net - long term 777,428 954,029
Property and equipment, net 4,934,498 5,106,842
Right of use assets - operating leases 1,069,948 1,328,624
Other assets 32,339 32,340
Intangible assets, net
Goodwill 9,302,524 9,302,524
Total assets 59,070,129 64,186,442
Current liabilities:    
Accounts payable and accrued expenses 7,332,560 8,232,342
Current portion of loans and obligations under finance leases 8,784,232 6,276,125
Current portion of operating lease obligations 518,075 608,202
Unearned revenue 3,320,286 8,752,153
Total current liabilities 19,955,153 23,868,822
Loans and obligations under finance leases; less current maturities 86,951 95,771
Operating lease obligations; less current maturities 512,062 688,749
Total liabilities 20,554,166 24,653,342
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,589,046  shares issued and 11,650,015  outstanding as of December 31, 2024 , 12,359,922  shares issued and 11,420,891  outstanding as of June 30, 2024 125,894 123,602
Additional paid-in-capital 129,194,697 128,783,865
Treasury stock (at cost, 939,031 shares as of December 31, 2024  and  June 30, 2024) (3,920,856) (3,920,856)
Accumulated deficit (45,288,560) (44,212,313)
Other comprehensive loss (46,187,766) (45,935,616)
Total NetSol stockholders’ equity 33,923,409 34,838,682
Non-controlling interest 4,592,554 4,694,418
Total stockholders’ equity 38,515,963 39,533,100
Total liabilities and stockholders’ equity $ 59,070,129 $ 64,186,442