Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Jun. 30, 2017
Sep. 30, 2016
Jun. 30, 2016
Current assets:        
Cash and cash equivalents $ 8,554,815 $ 14,172,954 $ 11,156,437 $ 11,557,527
Accounts receivable, net of allowance of $361,416 and $571,511 7,469,888 6,583,199 7,142,255  
Accounts receivable, net - related party 2,611,562 1,644,942 5,384,573  
Revenues in excess of billings 22,104,283 19,126,389 15,433,769  
Revenues in excess of billings - related party 80,057 80,705 682,049  
Convertible note receivable - related party 700,000 200,000    
Other current assets 2,940,599 2,463,886 3,192,425  
Total current assets 44,461,204 44,272,075 42,991,508  
Restricted cash 90,000 90,000 90,000  
Revenues in excess of billings, net - long term 5,225,260 5,173,538    
Property and equipment, net 19,646,592 20,370,703 22,612,752  
Other assets 3,400,418 3,211,295 1,604,731  
Intangible assets, net 16,139,921 17,043,151 19,326,259  
Goodwill 9,516,568 9,516,568 9,516,568  
Total assets 98,479,963 99,677,330 96,141,818  
Current liabilities:        
Accounts payable and accrued expenses 7,123,148 6,880,194 6,389,128  
Current portion of loans and obligations under capitalized leases 10,016,697 10,222,795 4,408,173  
Unearned revenues 3,656,591 3,925,702 4,419,692  
Common stock to be issued 88,324 88,324 88,324  
Total current liabilities 20,884,760 21,117,015 15,305,317  
Loans and obligations under capitalized leases; less current maturities 307,629 366,762 539,859  
Total liabilities 21,192,389 21,483,777 15,845,176  
Commitments and contingencies      
Stockholders’ equity:        
Preferred stock, $.01 par value; 500,000 shares authorized;  
Common stock, $.01 par value; 14,500,000 shares authorized; 11,333,129 shares issued and 11,186,570 outstanding as of September 30, 2017 and 11,225,385 shares issued and 11,190,606 outstanding as of June 30, 2017 113,331 112,254 108,823  
Additional paid-in-capital 124,987,029 124,409,998 122,367,231  
Treasury stock (At cost, 146,559 shares and 34,779 shares as of September 30, 2017 and June 30, 2017, respectively) (954,973) (454,310) (415,425)  
Accumulated deficit (42,670,888) (42,301,390) (37,709,471)  
Stock subscription receivable (273,926) (297,511) (602,811)  
Other comprehensive loss (18,663,149) (18,074,570) (17,960,133)  
Total NetSol stockholders’ equity 62,537,424 63,394,471 65,788,214  
Non-controlling interest 14,750,150 14,799,082 14,508,428  
Total stockholders’ equity 77,287,574 78,193,553 80,296,642  
Total liabilities and stockholders’ equity $ 98,479,963 $ 99,677,330 $ 96,141,818