Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Dec. 31, 2012
Jun. 30, 2012
Current assets:    
Cash and cash equivalents $ 9,579,693 $ 7,599,607
Restricted cash 2,398,659 141,231
Accounts receivable, net 15,621,790 13,757,637
Revenues in excess of billings 11,443,669 12,131,329
Other current assets 2,118,234 2,648,302
Total current assets 41,162,045 36,278,106
Investment under equity method 547,306  
Property and equipment, net 18,434,767 16,912,795
Intangible assets, net 28,756,690 28,502,983
Goodwill 9,653,330 9,653,330
Total intangibles 38,410,020 38,156,313
Total assets 98,554,138 91,347,214
Current liabilities:    
Accounts payable and accrued expenses 4,034,587 3,869,355
Current portion of loans and obligations under capitalized leases 3,473,417 1,896,238
Other payables - acquisitions 103,226 103,226
Unearned revenues 4,510,426 2,704,661
Convertible notes payable, current portion 2,656,245 2,809,093
Loans payable, bank 2,051,282 2,116,402
Common stock to be issued 88,325 105,575
Total current liabilities 16,917,508 13,604,550
Obligations under capitalized leases, less current maturities 276,821 260,107
Convertible notes payable less current maturities   936,364
Long term loans; less current maturities 1,294,976 1,551,541
Total liabilities 18,489,305 16,352,562
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 8,021,489 & 7,513,745 issued and outstanding as of December 31, 2012 and June 30, 2012 80,215 75,137
Additional paid-in-capital 109,220,684 106,101,165
Treasury stock (415,425) (415,425)
Accumulated deficit (28,532,291) (31,684,399)
Stock subscription receivable (2,342,238) (2,119,488)
Other comprehensive loss (13,893,118) (12,361,759)
Total NetSol shareholders' equity 64,117,827 59,595,231
Non-controlling interest 15,947,006 15,399,421
Total stockholders' equity 80,064,833 74,994,652
Total liabilities and stockholders' equity $ 98,554,138 $ 91,347,214