Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Sep. 30, 2013
Jun. 30, 2013
Current assets:    
Cash and cash equivalents $ 6,755,950 $ 7,874,318
Restricted cash 2,301,822 1,875,237
Accounts receivable, net 18,535,948 14,684,212
Revenues in excess of billings 11,435,167 15,367,198
Other current assets 2,841,126 2,273,314
Total current assets 41,870,013 42,074,279
Current liabilities:    
Accounts payable and accrued expenses 4,498,965 3,923,921
Current portion of loans and obligations under capitalized leases 3,660,388 3,326,465
Other payables - acquisitions 103,226 103,226
Unearned revenues 3,987,150 2,446,018
Loans payable, bank 1,874,941 1,982,161
Common stock to be issued 320,338 88,325
Total current liabilities 14,445,008 11,870,116
Long term loans and obligations under capitalized leases; less current maturities 1,416,791 1,412,212
Total liabilities 15,861,799 13,282,328
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 8,990,923 and 8,929,523 issued and outstanding as of September 30, 2013 and June 30, 2013 89,909 89,295
Additional paid-in-capital 114,914,808 114,292,510
Treasury stock (415,425) (415,425)
Accumulated deficit (24,918,371) (23,821,256)
Stock subscription receivable (2,130,488) (2,280,488)
Other comprehensive loss (17,916,294) (15,714,112)
Total NetSol stockholders' equity 69,624,139 72,150,524
Non-controlling interest 16,861,176 17,271,263
Total stockholders' equity 86,485,315 89,421,787
Total liabilities and stockholders' equity 102,347,114 102,704,115
Investment under equity method 554,674 545,483
Property and equipment, net 21,493,298 20,978,369
Intangible assets, net 28,775,799 29,452,654
Goodwill 9,653,330 9,653,330
Total assets $ 102,347,114 $ 102,704,115