Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2017
Jun. 30, 2017
Current assets:    
Cash and cash equivalents $ 10,004,650 $ 14,172,954
Accounts receivable, net of allowance of $347,413 and $571,511 19,106,677 6,583,199
Accounts receivable, net - related party 2,582,403 1,644,942
Revenues in excess of billings 16,094,026 19,126,389
Revenues in excess of billings - related party 107,562 80,705
Convertible note receivable - related party 750,000 200,000
Other current assets 2,819,183 2,463,886
Total current assets 51,464,501 44,272,075
Restricted cash 90,000 90,000
Revenues in excess of billings, net - long term 6,668,854 5,173,538
Property and equipment, net 18,443,494 20,370,703
Other assets 3,543,315 3,211,295
Intangible assets, net 14,810,605 17,043,151
Goodwill 9,516,568 9,516,568
Total assets 104,537,337 99,677,330
Current liabilities:    
Accounts payable and accrued expenses 7,560,298 6,880,194
Current portion of loans and obligations under capitalized leases 10,133,100 10,222,795
Unearned revenues 10,082,346 3,925,702
Common stock to be issued 88,324 88,324
Total current liabilities 27,864,068 21,117,015
Loans and obligations under capitalized leases; less current maturities 250,883 366,762
Total liabilities 28,114,951 21,483,777
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 11,395,401 shares issued and 11,221,347 outstanding as of December 31, 2017 and 11,225,385 shares issued and 11,190,606 outstanding as of June 30, 2017 113,954 112,254
Additional paid-in-capital 125,354,035 124,409,998
Treasury stock (At cost, 174,054 shares and 34,779 shares as of December 31, 2017 and June 30, 2017, respectively) (1,055,330) (454,310)
Accumulated deficit (42,036,467) (42,301,390)
Stock subscription receivable (221,000) (297,511)
Other comprehensive loss (20,276,030) (18,074,570)
Total NetSol stockholders' equity 61,879,162 63,394,471
Non-controlling interest 14,543,224 14,799,082
Total stockholders' equity 76,422,386 78,193,553
Total liabilities and stockholders' equity $ 104,537,337 $ 99,677,330