Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Jun. 30, 2015
Current assets:    
Cash and cash equivalents $ 11,557,527 $ 14,168,957
Accounts receivable, net of allowance of $492,498 and $524,565 9,691,229 6,480,344
Accounts receivable, net - related party 5,691,178 3,491,899
Revenues in excess of billings 10,493,096 5,251,005
Revenues in excess of billings - related party 804,168 16,270
Other current assets 2,214,628 1,871,040
Total current assets 40,451,826 31,279,515
Restricted cash 90,000 90,000
Property and equipment, net 22,774,435 25,119,634
Other assets 842,553 141,150
Intangible assets, net 19,674,033 22,815,467
Goodwill 9,516,568 9,516,568
Total assets 93,349,415 88,962,334
Current liabilities:    
Accounts payable and accrued expenses 5,962,770 5,952,561
Current portion of loans and obligations under capitalized leases 4,440,084 3,896,353
Unearned revenues 4,739,214 4,897,327
Common stock to be issued 88,324 88,324
Total current liabilities 15,230,392 14,834,565
Long term loans and obligations under capitalized leases; less current maturities 477,692 487,492
Total liabilities 15,708,084 15,322,057
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016 and 10,307,826 shares issued and 10,280,547 outstanding as of June 30, 2015 107,134 103,078
Additional paid-in-capital 121,448,946 119,209,807
Treasury stock (27,279 shares) (415,425) (415,425)
Accumulated deficit (37,323,360) (40,726,121)
Stock subscription receivable (783,172) (1,204,603)
Other comprehensive loss (18,730,494) (17,167,100)
Total NetSol stockholders' equity 64,303,629 59,799,636
Non-controlling interest 13,337,702 13,840,641
Total stockholders' equity 77,641,331 73,640,277
Total liabilities and stockholders' equity $ 93,349,415 $ 88,962,334