Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Dec. 31, 2013
Jun. 30, 2013
Current assets:    
Cash and cash equivalents $ 11,581,042 $ 7,874,318
Restricted cash 2,535,909 1,875,237
Accounts receivable, net 16,684,683 14,684,212
Revenues in excess of billings 6,271,254 15,367,198
Other current assets 2,210,215 2,273,314
Total current assets 39,283,103 42,074,279
Investment under equity method 378,835 545,483
Property and equipment, net 23,577,098 20,978,369
Intangible assets, net 29,176,897 29,452,654
Goodwill 9,653,330 9,653,330
Total assets 102,069,263 102,704,115
Current liabilities:    
Accounts payable and accrued expenses 5,411,478 4,027,147
Current portion of loans and obligations under capitalized leases 5,535,157 5,308,626
Unearned revenues 4,779,494 2,446,018
Common stock to be issued 320,338 88,325
Total current liabilities 16,046,467 11,870,116
Long term loans and obligations under capitalized leases; less current maturities 1,602,148 1,412,212
Total liabilities 17,648,615 13,282,328
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 9,063,575 and 8,929,523 issued and outstanding as of December 31, 2013 and June 30, 2013 90,636 89,295
Additional paid-in-capital 115,551,344 114,292,510
Treasury stock (415,425) (415,425)
Accumulated deficit (26,545,279) (23,821,256)
Stock subscription receivable (2,280,488) (2,280,488)
Other comprehensive loss (18,295,623) (15,714,112)
Total NetSol stockholders' equity 68,105,165 72,150,524
Non-controlling interest 16,315,483 17,271,263
Total stockholders' equity 84,420,648 89,421,787
Total liabilities and stockholders' equity $ 102,069,263 $ 102,704,115