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Note 13 - Other Payable and Common Stock to be Issued
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3 Months Ended |
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Sep. 30, 2012
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NOTE
13 – OTHER PAYABLE AND COMMON STOCK TO BE
ISSUED
On
June 30, 2006, the Company acquired McCue Systems, Inc.
(“McCue”), a California corporation
(subsequently renamed NetSol Technologies North America,
Inc.) The total purchase price was $7,080,385, including
$3,784,635 of cash and 1,712,332 shares of the
Company’s common stock. Of the total purchase price,
the accompanying consolidated financial statements include
certain amounts payable to McCue shareholders that have not
been located as of the date of this report.
As
of the period-ended September 30 and June 30, 2012, the
remaining cash due of $103,226 is shown as “Other
Payable” and the remaining stock to be issued of
4,670 shares at an average price of $18.90 is shown in
“Common stock to be issued” in the accompanying
consolidated financial statements.
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- Definition
Entire disclosure for other payable and common stock to be issued. No definition available.
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