Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2013
Jun. 30, 2012
Current assets:    
Cash and cash equivalents $ 7,706,158 $ 7,599,607
Restricted cash 2,066,575 141,231
Accounts receivable, net 17,623,594 13,757,637
Revenues in excess of billings 11,650,654 12,131,329
Other current assets 2,763,495 2,648,302
Total current assets 41,810,476 36,278,106
Investment under equity method 530,914  
Property and equipment, net 20,160,872 16,912,795
Intangible assets, net 28,993,679 28,502,983
Goodwill 9,653,330 9,653,330
Total intangibles 38,647,009 38,156,313
Total assets 101,149,271 91,347,214
Current liabilities:    
Accounts payable and accrued expenses 4,558,686 3,869,355
Current portion of loans and obligations under capitalized leases 3,385,997 1,896,238
Other payables - acquisitions 103,226 103,226
Unearned revenues 3,798,612 2,704,661
Convertible notes payable, current portion 379,512 2,809,093
Loans payable, bank 2,008,435 2,116,402
Common stock to be issued 88,325 105,575
Total current liabilities 14,322,793 13,604,550
Obligations under capitalized leases, less current maturities 240,268 260,107
Convertible notes payable less current maturities   936,364.25
Long term loans; less current maturities 1,160,186 1,551,541
Total liabilities 15,723,247 16,352,562
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 8,779,560 & 7,513,745 issued and outstanding as of March 31, 2013 and June 30, 2012 87,796 75,137
Additional paid-in-capital 113,086,441 106,101,165
Treasury stock (415,425) (415,425)
Accumulated deficit (26,969,456) (31,684,399)
Stock subscription receivable (2,020,488) (2,119,488)
Other comprehensive loss (14,742,035) (12,361,759)
Total NetSol shareholders' equity 69,026,833 59,595,231
Non-controlling interest 16,399,191 15,399,421
Total stockholders' equity 85,426,024 74,994,652
Total liabilities and stockholders' equity $ 101,149,271 $ 91,347,214