Retatement of Previously Issued Financial Statements - Schedule of Condensed Consolidated Financial Statements (Details)

v3.7.0.1

Retatement of Previously Issued Financial Statements - Schedule of Condensed Consolidated Financial Statements (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Current assets:
Cash and cash equivalents	$ 8,450,115	$ 11,156,437	$ 11,557,527	$ 11,881,159	$ 13,986,773	$ 14,168,957	$ 11,557,527	$ 14,168,957	$ 8,450,115	$ 11,881,159	$ 8,450,115	$ 9,505,383	$ 11,156,437	$ 11,557,527	$ 13,986,773	$ 10,075,324
Restricted cash															90,000	90,000
Accounts receivable, net of allowance											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
Common stock											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											(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
Net Revenues:
License fees	5,730,222	3,769,557	5,453,795	1,358,469	1,115,837	602,235	9,223,352	1,718,072	14,953,574	3,076,541
Maintenance fees	3,538,996	3,588,899	3,523,797	3,388,526	3,336,557	3,101,126	7,112,696	6,437,683	10,651,692	9,826,209
Services	7,004,272	6,984,084	5,806,717	8,159,490	9,574,104	6,753,873	12,790,801	16,327,977	19,795,073	24,487,467
License fees - related party			246,957	484,644			246,957		246,957	484,644
Maintenance fees - related party	51,698	51,345	130,631	28,423	31,755	158,231	181,976	189,986	233,674	218,409
Services - related party	1,624,132	1,464,901	1,914,572	2,554,347	2,635,675	2,187,408	3,379,473	4,823,083	5,003,605	7,377,430
Total net revenues	17,949,320	15,858,786	17,076,469	15,973,899	16,693,928	12,802,873	32,935,255	29,496,801	50,884,575	45,470,700
Cost of revenues:
Salaries and consultants	6,161,110	5,979,804	5,893,349	5,691,530	4,925,565	4,999,890	11,873,153	9,925,455	18,034,263	15,936,191
Travel	764,867	836,240	711,895	543,672	754,009	481,453	1,548,135	1,235,462	2,313,002	1,779,134
Depreciation and amortization	1,340,188	1,318,764	1,330,872	1,483,695	1,461,466	1,474,235	2,649,636	2,935,701	3,989,824	4,419,396
Other	686,950	1,065,727	972,338	860,868	1,022,682	938,797	2,038,065	1,961,479	2,725,015	2,822,347
Total cost of revenues	8,953,115	9,200,535	8,908,454	8,579,765	8,163,722	7,894,375	18,108,989	16,058,097	27,062,104	24,957,068
Gross profit	8,996,205	6,658,251	8,168,015	7,394,134	530,206	4,908,498	14,826,266	13,438,704	23,822,471	20,513,632
Operating expenses:
Selling and marketing	2,439,948	2,713,478	2,411,136	1,896,295	2,002,990	1,698,404	5,057,516	3,701,394	7,497,464	5,597,689
Depreciation and amortization	284,642	271,485	269,097	321,230	285,616	291,172	540,582	576,788	825,224	898,018
General and administrative	4,329,798	3,933,413	4,552,098	3,808,327	3,536,676	3,366,047	8,552,609	6,902,723	12,882,407	10,391,844
Research and development cost	101,193	91,607	92,932	132,123	117,924	112,070	184,539	229,994	285,732	362,117
Total operating expenses	7,155,581	7,009,983	7,325,263	6,157,975	5,943,206	5,467,693	14,335,246	11,410,899	21,490,827	17,249,668
Loss from operations	1,840,624	(351,732)	842,752	1,236,159	2,587,000	(559,195)	491,020	2,027,805	2,331,644	3,263,964
Other income and (expenses)
Loss on sale of assets	1,647	(32,339)	(2,403)	14,848	(2,333)	11,873	(34,742)	(14,206)	(33,095)	642
Interest expense	(60,357)	(62,127)	(54,475)	(56,070)	(72,156)	(68,173)	(116,602)	(140,329)	(176,959)	(196,399)
Interest income	27,229	23,416	30,440	29,673	35,299	52,112	53,856	87,411	81,085	117,084
Loss on foreign currency exchange transactions	390,897	(621,887)	(414,896)	12,955	(134,527)	(113,719)	(1,036,783)	(248,246)	(645,886)	(235,291)
Other income	(219)	6,823	21,560	25,258	120,684	54,314	28,383	174,998	28,164	200,256
Total other income (expenses)	359,197	(686,114)	(419,774)	26,664	(53,033)	(87,339)	(1,105,888)	(140,372)	(746,691)	(113,708)
Net loss before income taxes	2,199,821	(1,037,846)	422,978	1,262,823	2,533,967	(646,534)	(614,868)	1,887,433	1,584,953	3,150,256
Income tax provision	(61,604)	(338,884)	(39,875)	(106,209)	(273,275)	(75,223)	(378,759)	(348,498)	(440,363)	(454,707)
Net loss	2,138,217	(1,376,730)	383,103	1,156,614	2,260,692	(721,757)	(993,627)	1,538,935	1,144,590	2,695,549
Non-controlling interest	(1,438,249)	(791,664)	(769,214)	(307,135)	(1,058,675)	(16,223)	(1,560,878)	(1,074,898)	(2,999,127)	(1,382,033)
Net loss attributable to NetSol	$ 699,968	$ (2,168,394)	$ (386,111)	$ 849,479	$ 1,202,017	$ (737,980)	$ (2,554,505)	$ 464,037	$ (1,854,537)	$ 1,313,516
Net loss per share:
Net loss per common share - Basic	$ 0.06	$ (0.20)	$ (0.04)	$ 0.08	$ 0.12	$ (0.07)	$ (0.24)	$ 0.05	$ (0.17)	$ 0.13
Net loss per common share - Diluted	$ 0.06	$ (0.20)	$ (0.04)	$ 0.08	$ 0.11	$ (0.07)	$ (0.24)	$ 0.04	$ (0.17)	$ 0.12
Weighted average number of shares outstanding
Basic	10,987,214	10,877,446	10,697,425	10,427,664	10,308,186	10,281,335	10,783,685	10,294,760	10,850,538	10,338,740
Diluted	11,121,620	10,877,446	10,697,425	10,643,479	10,548,922	10,281,335	10,783,685	10,535,496	10,850,538	10,554,555
Other comprehensive income (loss):
Translation adjustment	$ (240,245)	$ (944,837)	$ 1,094,074	$ (333,340)	$ (665,906)	$ (1,248,567)	$ 149,237	$ (1,914,473)	$ (91,008)	$ (2,247,813)
Comprehensive income (loss)	459,723	(3,113,231)	707,963	516,139	536,111	(1,986,547)	(2,339,689)	(1,450,436)	(1,945,545)	(934,297)
Comprehensive income (loss) attributable to non-controlling interest	(71,144)	(276,575)	323,713	19,111	(249,910)	(285,367)	47,138	(535,277)	(24,006)	(516,166)
Comprehensive income (loss) attributable to NetSol	530,867	(2,836,656)	384,250	497,028	786,021	(1,701,180)	(2,386,827)		(1,921,539)	(418,131)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,599,969			1,765,407	3,190,218	3,512,489	4,815,048	5,317,414
Provision for bad debts						36,780	1,026	37,043	732	49,605
Stock issued for services			865,456			77,750	1,525,775	326,019	1,998,968	694,693
Fair market value of warrants and stock options granted			21,804				21,804	145,716	26,956	145,716
Changes in operating assets and liabilities:
Accounts receivable			2,336,894			(1,268,570)	3,678,110	111,967	(649,776)	115,428
Accounts receivable - related party			121,800			(975,266)	829,285	(2,383,828)	405,009	(3,111,316)
Revenues in excess of billing			(4,821,828)			(182,464)	(7,592,495)	720,910	(10,388,695)	(3,078,655)
Revenues in excess of billing - related party			93,208			(138,926)	285,791		553,767	15,507
Other current assets			306,339			(322,533)	585,147	(758,802)	419,704	(838,913)
Accounts payable and accrued expenses			(780,569)			(833,638)	334,241	142,008	337,890	617,112
Unearned revenue			(346,108)			(627,147)	(1,830,619)	(1,375,045)	(715,880)	(1,490,697)
Net cash used in operating activities			(217,529)			(3,178,491)	69,398	2,031,618	(2,018,592)	1,130,801
Cash flows from investing activities:
Purchases of property and equipment			(554,873)			(625,794)	(1,074,316)	(1,177,443)	(1,315,922)	(2,523,865)
Sales of property and equipment			151,818			180,258	181,087	357,933	149,430	556,280
Purchase of treasury stock							(38,885)		(38,885)
Investment			(555,555)				(705,555)		(905,555)	(555,556)
Purchase of subsidiary shares from open market								(347,623)		767,397
Net cash used in investing activities			(958,610)			(445,536)	(1,637,669)	(1,167,133)	(2,110,932)	(3,290,538)
Cash flows from financing activities:
Proceeds from sale of common stock						64,931		64,931		64,931
Proceeds from the exercise of stock options and warrants			276,861				429,452	194,680	785,479	728,699
Proceeds from exercise of subsidiary options			14,013				18,089		54,377	16,744
Dividend paid by subsidiary to Non controlling interest							(968,657)		(968,657)
Proceeds from bank loans						437,070		306,750	1,484,162	1,334,285
Payments on capital lease obligations and loans - net			(49,117)			(174,385)	(69,998)	(530,733)	(251,040)	(736,405)
Net cash provided by financing activities			241,757			327,616	(591,114)	35,628	1,104,321	1,408,254
Effect of exchange rate changes			533,292			(797,222)	107,241	(1,082,297)	(82,209)	(1,536,315)
Net decrease in cash and cash equivalents			(401,090)			(4,093,633)	(2,052,144)	(182,184)	(3,107,412)	(2,287,798)
Cash and cash equivalents, beginning of the period	9,505,383	11,156,437	11,557,527	13,986,773	10,075,324	14,168,957	11,557,527	14,168,957	11,557,527	14,168,957
Cash and cash equivalents, end of period	8,450,115	9,505,383	11,156,437	11,881,159	13,986,773	10,075,324	9,505,383	13,986,773	8,450,115	11,881,159
As Originally Presented [Member]
Current assets:
Cash and cash equivalents	9,505,383	11,156,437	11,156,437	13,986,773	10,075,324	10,075,324	11,557,527	13,986,773	11,557,527	14,168,957		9,505,383	11,156,437	$ 11,557,527	13,986,773	10,075,324
Restricted cash															90,000	90,000
Accounts receivable, net of allowance												5,840,490	7,142,255		6,025,334	7,485,807
Accounts receivable, net - related party												4,303,380	5,384,573		5,749,523	4,409,186
Revenues in excess of billings												17,646,488	13,358,858		5,061,568	6,560,754
Revenues in excess of billings - related party												469,030	682,049
Other current assets												2,904,650	3,192,425		2,671,613	2,279,083
Total current assets												40,669,421	40,916,597		33,584,811	30,900,154
Restricted cash												90,000	90,000
Property and equipment, net												21,873,277	22,612,752		23,251,920	24,053,908
Other assets												2,054,938	1,604,731
Intangible assets, net												18,423,439	19,326,259		20,877,711	21,837,105
Goodwill												9,516,568	9,516,568		9,516,568	9,516,568
Total assets												92,627,643	94,066,907		87,231,010	86,307,735
Current liabilities:
Accounts payable and accrued expenses												7,373,097	6,389,128		5,907,103	5,030,352
Current portion of loans and obligations under capitalized leases												4,368,930	4,408,173		3,767,193	4,241,836
Unearned revenues												2,806,804	4,419,692		3,546,819	4,302,524
Common stock to be issued												88,324	88,324		88,324	88,324
Total current liabilities												14,637,155	15,305,317		13,309,439	13,663,036
Long term loans and obligations under capitalized leases; less current maturities												501,554	539,859		273,109	329,834
Total liabilities												15,138,709	15,845,176		13,582,548	13,992,870
Commitments and contingencies
Stockholders' equity:
Preferred stock
Common stock												109,931	108,823		104,184	103,228
Additional paid-in-capital												123,019,215	122,367,231		119,890,798	119,287,407
Treasury stock												(454,310)	(415,425)		(415,425)	(415,425)
Accumulated deficit												(40,074,755)	(39,089,079)		(40,262,084)	(41,137,149)
Stock subscription receivable												(450,220)	(602,811)		(1,139,672)	(1,139,672)
Other comprehensive loss												(18,628,395)	(17,960,133)		(18,546,296)	(18,130,300)
Total NetSol stockholders' equity												63,521,466	64,408,606		59,631,505	58,568,089
Non-controlling interest												13,967,468	13,813,125		14,016,957	13,746,776
Total stockholders' equity												77,488,934	78,221,731		73,648,462	72,314,865
Total liabilities and stockholders' equity												92,627,643	94,066,907		87,231,010	86,307,735
Net Revenues:
License fees		5,350,086	3,499,860		709,691	1,193,354	8,849,946	1,903,045
Maintenance fees		3,787,696	3,402,821		3,240,472	3,012,238	7,190,517	6,252,710
Services		6,984,084	5,806,717		9,574,104	6,753,873	12,790,801	16,327,977
License fees - related party			246,957				246,957
Maintenance fees - related party		51,345	130,631		31,755	158,231	181,976	189,986
Services - related party		1,464,901	1,914,572		2,635,675	2,187,408	3,379,473	4,823,083
Total net revenues		17,638,112	15,001,558		16,191,697	13,305,104	32,639,670	29,496,801
Cost of revenues:
Salaries and consultants		5,979,804	5,893,349		4,925,565	4,999,890	11,873,153	9,925,455
Travel		836,240	711,895		754,009	481,453	1,548,135	1,235,462
Depreciation and amortization		1,318,764	1,330,872		1,461,466	1,474,235	2,649,636	2,935,701
Other		1,065,727	972,338		1,022,682	938,797	2,038,065	1,961,479
Total cost of revenues		9,200,535	8,908,454		8,163,722	7,894,375	18,108,989	16,058,097
Gross profit		8,437,577	6,093,104		8,027,975	5,410,729	14,530,681	13,438,704
Operating expenses:
Selling and marketing		2,713,478	2,411,136		2,002,990	1,698,404	5,057,516	3,701,394
Depreciation and amortization		271,485	269,097		285,616	291,172	540,582	576,788
General and administrative		3,933,413	4,552,098		3,536,676	3,366,047	8,552,609	6,902,723
Research and development cost		91,607	92,932		117,924	112,070	184,539	229,994
Total operating expenses		7,009,983	7,325,263		5,943,206	5,467,693	14,335,246	11,410,899
Loss from operations		1,427,594	(1,232,159)		2,084,769	(56,964)	195,435	2,027,805
Other income and (expenses)
Loss on sale of assets		(32,339)	(2,403)		(2,333)	11,873	(34,742)	(14,206)
Interest expense		(62,127)	(54,475)		(72,156)	(68,173)	(116,602)	(140,329)
Interest income		23,416	30,440		35,299	52,112	53,856	87,411
Loss on foreign currency exchange transactions		(621,887)	(414,896)		(134,527)	(113,719)	(1,036,783)	(248,246)
Other income		6,823	21,560		120,684	54,314	28,383	174,998
Total other income (expenses)		(686,114)	(419,774)		(53,033)	(87,339)	(1,105,888)	(140,372)
Net loss before income taxes		741,480	(1,651,933)		2,031,736	(144,303)	(910,453)	1,887,433
Income tax provision		(338,884)	(39,875)		(273,275)	(75,223)	(378,759)	(348,498)
Net loss		402,596	(1,691,808)		1,758,461	(219,526)	(1,289,212)	1,538,935
Non-controlling interest		(1,388,272)	(73,911)		(883,396)	(191,502)	(1,462,183)	(1,074,898)
Net loss attributable to NetSol		$ (985,676)	$ (1,765,719)		$ 875,065	$ (411,028)	$ (2,751,395)	$ 464,037
Net loss per share:
Net loss per common share - Basic		$ (0.09)	$ (0.17)		$ 0.08	$ (0.04)	$ (0.26)	$ 0.05
Net loss per common share - Diluted		$ (0.09)	$ (0.17)		$ 0.08	$ (0.04)	$ (0.26)	$ 0.04
Weighted average number of shares outstanding
Basic		10,877,446	10,697,425		10,308,186	10,281,335	10,783,685	10,294,760
Diluted		10,877,446	10,697,425		10,548,922	10,281,335	10,783,685	10,535,496
Other comprehensive income (loss):
Translation adjustment		$ (944,837)	$ 1,094,074		$ (665,906)	$ (1,248,567)	$ 149,237	$ (1,914,473)
Comprehensive income (loss)		(1,930,513)	(671,645)		209,159	(1,659,595)	(2,602,158)	(1,450,436)
Comprehensive income (loss) attributable to non-controlling interest		(276,575)	323,713		(249,910)	(285,367)	47,138	(535,277)
Comprehensive income (loss) attributable to NetSol		(1,653,938)	(995,358)		459,069	(1,374,228)	(2,649,296)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,599,969			1,765,407	3,190,218	3,512,489
Provision for bad debts						36,780	1,026	37,043
Stock issued for services			865,456			77,750	1,525,775	326,019
Fair market value of warrants and stock options granted			21,804				21,804	145,716
Changes in operating assets and liabilities:
Accounts receivable			2,336,894			(1,268,570)	3,678,110	111,967
Accounts receivable - related party			121,800			(975,266)	829,285	(2,383,828)
Revenues in excess of billing			(2,746,917)			(773,583)	(7,219,089)	535,937
Revenues in excess of billing - related party			93,208			(138,926)	285,791
Other current assets			306,339			(322,533)	585,147	(758,802)
Accounts payable and accrued expenses			(780,569)			(833,638)	334,241	142,008
Unearned revenue			(346,108)			(538,259)	(1,908,440)	(1,190,072)
Net cash used in operating activities			(217,529)			(3,178,491)	69,398	2,031,618
Cash flows from investing activities:
Purchases of property and equipment			(554,873)			(625,794)	(1,074,316)	(1,177,443)
Sales of property and equipment			151,818			180,258	181,087	357,933
Purchase of treasury stock							(38,885)
Investment			(555,555)				(705,555)
Purchase of subsidiary shares from open market								(347,623)
Net cash used in investing activities			(958,610)			(445,536)	(1,637,669)	(1,167,133)
Cash flows from financing activities:
Proceeds from sale of common stock						64,931		64,931
Proceeds from the exercise of stock options and warrants			276,861				429,452	194,680
Proceeds from exercise of subsidiary options			14,013				18,089
Dividend paid by subsidiary to Non controlling interest							(968,657)
Proceeds from bank loans						437,070		306,750
Payments on capital lease obligations and loans - net			(49,117)			(174,385)	(69,998)	(530,733)
Net cash provided by financing activities			241,757			327,616	(591,114)	35,628
Effect of exchange rate changes			533,292			(797,222)	107,241	(1,082,297)
Net decrease in cash and cash equivalents			(401,090)			(4,093,633)	(2,052,144)	(182,184)
Cash and cash equivalents, beginning of the period	$ 9,505,383	11,156,437	11,557,527	$ 13,986,773	10,075,324	14,168,957	11,557,527	14,168,957	$ 11,557,527	$ 14,168,957
Cash and cash equivalents, end of period		9,505,383	11,156,437		13,986,773	10,075,324	9,505,383	13,986,773
Amount of Restatement [Member]
Current assets:
Cash and cash equivalents
Revenues in excess of billings												373,406	2,074,911		(184,973)	(591,119)
Total current assets												373,406	2,074,911		(184,973)	(591,119)
Total assets												472,056	2,074,911		(184,973)	(591,119)
Current liabilities:
Unearned revenues												77,821			(184,973)	(88,888)
Total current liabilities												77,821			(184,973)	(88,888)
Total liabilities												77,821			(184,973)	(88,888)
Commitments and contingencies
Stockholders' equity:
Preferred stock
Accumulated deficit												196,890	1,379,608			(326,952)
Total NetSol stockholders' equity												196,890	1,379,608			(326,952)
Non-controlling interest												98,695	695,303			(175,279)
Total stockholders' equity												295,585	2,074,911			(502,231)
Total liabilities and stockholders' equity												$ 373,406	$ 2,074,911		$ (184,973)	$ (591,119)
Net Revenues:
License fees		(1,580,529)	1,953,935		406,146	(591,119)	373,406	(184,973)
Maintenance fees		(198,797)	120,976		96,085	88,888	(77,821)	184,973
Total net revenues		(1,779,326)	2,074,911		502,231	(502,231)	295,585
Cost of revenues:
Total cost of revenues
Gross profit		(1,779,326)	2,074,911		502,231	(502,231)	295,585
Operating expenses:
Total operating expenses
Loss from operations		(1,779,326)	2,074,911		502,231	(502,231)	295,585
Other income and (expenses)
Total other income (expenses)
Net loss before income taxes		(1,779,326)	2,074,911		502,231	(502,231)	295,585
Net loss		(1,779,326)	2,074,911		502,231	(502,231)	295,585
Non-controlling interest		596,608	(695,303)		(175,279)	175,279	(98,695)
Net loss attributable to NetSol		$ (1,182,718)	$ 1,379,608		$ 326,952	$ (326,952)	$ 196,890
Net loss per share:
Net loss per common share - Basic		$ (0.11)	$ 0.14		$ 0.04	$ (0.03)	$ 0.03
Net loss per common share - Diluted		$ (0.11)	$ 0.14		$ 0.03	$ (0.03)	$ 0.03
Weighted average number of shares outstanding
Basic		10,877,446	10,697,425		10,308,186	10,281,335	10,783,685	10,294,760
Diluted		10,877,446	10,697,425		10,548,922	10,281,335	10,783,685	10,535,496
Other comprehensive income (loss):
Translation adjustment
Comprehensive income (loss)		(1,182,718)	1,379,608		326,952	(326,952)	262,469
Comprehensive income (loss) attributable to non-controlling interest
Comprehensive income (loss) attributable to NetSol		$ (1,182,718)	1,379,608		326,952	(326,952)	262,469
Changes in operating assets and liabilities:
Revenues in excess of billing			(2,074,911)			591,119	(373,406)	184,973
Unearned revenue						(88,888)	77,821	(184,973)
Net cash used in operating activities
Cash flows from investing activities:
Purchase of subsidiary shares from open market
Net cash used in investing activities
Cash flows from financing activities:
Net cash provided by financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents, beginning of the period
Cash and cash equivalents, end of period