Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.6.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2016
Jun. 30, 2016
Current assets:    
Cash and cash equivalents $ 9,505,383 $ 11,557,527
Accounts receivable, net of allowance of $495,760 and $492,498 5,840,490 9,691,229
Accounts receivable, net - related party 4,303,380 5,691,178
Revenues in excess of billings 17,646,488 10,493,096
Revenues in excess of billings - related party 469,030 804,168
Other current assets 2,904,650 2,214,628
Total current assets 40,669,421 40,451,826
Restricted cash 90,000 90,000
Property and equipment, net 21,873,277 22,774,435
Other assets 2,054,938 842,553
Intangible assets, net 18,423,439 19,674,033
Goodwill 9,516,568 9,516,568
Total assets 92,627,643 93,349,415
Current liabilities:    
Accounts payable and accrued expenses 7,373,097 5,962,770
Current portion of loans and obligations under capitalized leases 4,368,930 4,440,084
Unearned revenues 2,806,804 4,739,214
Common stock to be issued 88,324 88,324
Total current liabilities 14,637,155 15,230,392
Long term loans and obligations under capitalized leases; less current maturities 501,554 477,692
Total liabilities 15,138,709 15,708,084
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 10,993,054 shares issued and 10,958,275 outstanding as of December 31, 2016 and10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016 109,931 107,134
Additional paid-in-capital 123,019,215 121,448,946
Treasury stock (34,779 shares and 27,279 shares) (454,310) (415,425)
Accumulated deficit (40,074,755) (37,323,360)
Stock subscription receivable (450,220) (783,172)
Other comprehensive loss (18,628,395) (18,730,494)
Total NetSol stockholders' equity 63,521,466 64,303,629
Non-controlling interest 13,967,468 13,337,702
Total stockholders' equity 77,488,934 77,641,331
Total liabilities and stockholders' equity $ 92,627,643 $ 93,349,415