Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 18,774,739 $ 19,127,165
Accounts receivable, net of allowance of $37,794 and $398,809 5,443,498 13,049,614
Revenues in excess of billings, net of allowance of $1,126,734 and $116,148 14,727,410 12,684,518
Other current assets 3,465,893 2,600,786
Total current assets 42,411,540 47,462,083
Revenues in excess of billings, net - long term 697,486 954,029
Property and equipment, net 4,768,844 5,106,842
Right of use assets - operating leases 930,847 1,328,624
Other assets 32,338 32,340
Goodwill 9,302,524 9,302,524
Total assets 58,143,579 64,186,442
Current liabilities:    
Accounts payable and accrued expenses 7,097,343 8,232,342
Current portion of loans and obligations under finance leases 8,459,991 6,276,125
Current portion of operating lease obligations 475,888 608,202
Unearned revenue 2,705,414 8,752,153
Total current liabilities 18,738,636 23,868,822
Loans and obligations under finance leases; less current maturities 86,800 95,771
Operating lease obligations; less current maturities 422,350 688,749
Total liabilities 19,247,786 24,653,342
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,648,574 shares issued and 11,709,543  outstanding as of March 31, 2025, 12,359,922 shares issued and 11,420,891 outstanding as of June 30, 2024 126,489 123,602
Additional paid-in-capital 129,366,638 128,783,865
Treasury stock (at cost, 939,031 shares as of March 31, 2025 and June 30, 2024) (3,920,856) (3,920,856)
Accumulated deficit (43,864,592) (44,212,313)
Other comprehensive loss (46,253,619) (45,935,616)
Total NetSol stockholders’ equity 35,454,060 34,838,682
Non-controlling interest 3,441,733 4,694,418
Total stockholders’ equity 38,895,793 39,533,100
Total liabilities and stockholders’ equity $ 58,143,579 $ 64,186,442