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, 2014
Jun. 30, 2013
Current assets:    
Cash and cash equivalents $ 12,383,695 $ 7,874,318
Restricted cash 2,495,354 1,875,237
Accounts receivable, net 12,967,350 14,684,212
Revenues in excess of billings 4,519,754 15,367,198
Other current assets 3,017,570 2,273,314
Total current assets 35,383,723 42,074,279
Investment under equity method 175,151 545,483
Property and equipment, net 27,625,986 20,978,369
Intangible assets, net 30,850,059 29,452,654
Goodwill 9,653,330 9,653,330
Total assets 103,688,249 102,704,115
Current liabilities:    
Accounts payable and accrued expenses 5,250,138 4,027,147
Current portion of loans and obligations under capitalized leases 5,855,371 5,308,626
Unearned revenues 3,607,582 2,446,018
Common stock to be issued 342,898 88,325
Total current liabilities 15,055,989 11,870,116
Long term loans and obligations under capitalized leases; less current maturities 1,837,583 1,412,212
Total liabilities 16,893,572 13,282,328
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 9,124,164 and 8,929,523 issued and outstanding as of March 31, 2014 and June 30, 2013 91,242 89,295
Additional paid-in-capital 115,786,958 114,292,510
Treasury stock (415,425) (415,425)
Accumulated deficit (27,845,083) (23,821,256)
Stock subscription receivable (2,280,488) (2,280,488)
Other comprehensive loss (14,915,572) (15,714,112)
Total NetSol stockholders' equity 70,421,632 72,150,524
Non-controlling interest 16,373,045 17,271,263
Total stockholders' equity 86,794,677 89,421,787
Total liabilities and stockholders' equity $ 103,688,249 $ 102,704,115