Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Current assets:                
Cash and cash equivalents $ 8,450,115 $ 9,505,383 $ 11,156,437 $ 11,557,527 $ 11,881,159 $ 13,986,773 $ 10,075,324 $ 14,168,957
Accounts receivable, net of allowance of $494,011 and $492,498 10,301,949 5,840,490 7,142,255 9,691,229   6,025,334 7,485,807  
Accounts receivable, net - related party 4,414,635 4,303,380 5,384,573 5,691,178   5,749,523 4,409,186  
Revenues in excess of billings 20,893,955 18,019,894 15,433,769 10,493,096   4,876,595 5,969,635  
Revenues in excess of billings - related party 94,685 469,030 682,049 804,168        
Other current assets 3,040,774 2,904,650 3,192,425 2,214,628   2,671,613 2,279,083  
Total current assets 47,196,113 93,001,049 42,991,508 40,451,826   33,399,838 30,309,035  
Restricted cash 90,000 90,000 90,000 90,000        
Property and equipment, net 21,205,976 21,873,277 22,612,752 22,774,435   23,251,920 24,053,908  
Other assets 2,549,858 2,054,938 1,604,731 842,553        
Intangible assets, net 17,662,773 18,423,439 19,326,259 19,674,033   20,877,711 21,837,105  
Goodwill 9,516,568 9,516,568 9,516,568 9,516,568   9,516,568 9,516,568  
Total assets 98,221,288 93,099,699 96,141,818 93,349,415   87,046,037 85,716,616  
Current liabilities:                
Accounts payable and accrued expenses 7,404,181 7,373,097 6,389,128 5,962,770   5,907,103 5,030,352  
Current portion of loans and obligations under capitalized leases 5,650,475 4,368,930 4,408,173 4,440,084   3,767,193 4,241,836  
Unearned revenues 4,025,642 2,884,625 4,419,692 4,739,214   3,361,846 4,213,636  
Common stock to be issued 88,324 88,324 88,324 88,324   88,324 88,324  
Total current liabilities 17,168,622 14,714,976 15,305,317 15,230,392   13,124,466 13,574,148  
Long term loans and obligations under capitalized leases; less current maturities 499,515 501,554 539,859 477,692   273,109 329,834  
Total liabilities 17,668,137 15,216,530 15,845,176 15,708,084   13,397,575 13,903,982  
Commitments and contingencies      
Stockholders' equity:                
Preferred stock, $.01 par value; 500,000 shares authorized;    
Common stock, $.01 par value; 14,500,000 shares authorized; 11,132,349 shares issued and 11,097,570 outstanding as of March 31, 2017 and 10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016 111,324 109,931 108,823 107,134   104,184 103,228  
Additional paid-in-capital 123,693,569 123,019,215 122,367,231 121,448,946   119,890,798 119,287,407  
Treasury stock (At cost, 34,779 shares and 27,279 shares as of March 31, 2017 and June 30, 2016, respectively) (454,310) (454,310) (415,425) (415,425)   (415,425) (415,425)  
Accumulated deficit (39,177,897) (39,877,865) (37,709,471) (37,323,360)   (40,262,084) (41,464,101)  
Stock subscription receivable (359,070) (450,220) (602,811) (783,172)   (1,139,672) (1,139,672)  
Other comprehensive loss (18,797,496) (18,628,395) (17,960,133) (18,730,494)   (18,546,296) (18,130,300)  
Total NetSol stockholders' equity 65,016,120 63,718,356 65,788,214 64,303,629   59,631,505 58,241,137  
Non-controlling interest 15,537,031 14,066,163 14,508,428 13,337,702   14,016,957 13,571,497  
Total stockholders' equity 80,553,151 77,784,519 80,296,642 77,641,331   73,648,462 71,812,634  
Total liabilities and stockholders' equity $ 98,221,288 $ 93,001,049 $ 96,141,818 $ 93,349,415   $ 87,046,037 $ 85,716,616