Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 17,357,944 $ 19,127,165
Accounts receivable, net of allowance of $355,464 and $398,809 7,527,572 13,049,614
Revenues in excess of billings, net of allowance of $34,496 and $116,148 18,230,619 12,684,518
Other current assets 3,203,468 2,600,786
Total current assets 46,319,603 47,462,083
Revenues in excess of billings, net - long term 903,766 954,029
Property and equipment, net 5,073,372 5,106,842
Right of use assets - operating leases 809,513 1,328,624
Other assets 32,331 32,340
Goodwill 9,302,524 9,302,524
Total assets 62,441,109 64,186,442
Current liabilities:    
Accounts payable and accrued expenses 8,010,844 8,232,342
Current portion of loans and obligations under finance leases 8,240,061 6,276,125
Current portion of operating lease obligations 433,242 608,202
Unearned revenue 3,029,850 8,752,153
Total current liabilities 19,713,997 23,868,822
Loans and obligations under finance leases; less current maturities 134,608 95,771
Operating lease obligations; less current maturities 333,374 688,749
Total liabilities 20,181,979 24,653,342
Stockholders’ equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 18,000,000 shares authorized; 12,700,465 shares issued and 11,761,434  outstanding as of June 30, 2025 , 12,359,922 shares issued and 11,420,891  outstanding as of June 30, 2024 127,008 123,602
Additional paid-in-capital 129,529,901 128,783,865
Treasury stock (at cost, 939,031 shares as of June 30, 2025 and June 30, 2024) (3,920,856) (3,920,856)
Accumulated deficit (41,289,080) (44,212,313)
Other comprehensive loss (46,613,208) (45,935,616)
Total NetSol stockholders’ equity 37,833,765 34,838,682
Non-controlling interest 4,425,365 4,694,418
Total stockholders’ equity 42,259,130 39,533,100
Total liabilities and stockholders’ equity $ 62,441,109 $ 64,186,442