Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Jun. 30, 2017
Current assets:    
Cash and cash equivalents $ 12,711,983 $ 14,172,954
Accounts receivable, net of allowance of $333,301 and $571,511 22,874,866 6,583,199
Accounts receivable, net - related party 3,412,346 1,644,942
Revenues in excess of billings 15,286,835 19,126,389
Revenues in excess of billings - related party 153,135 80,705
Convertible note receivable - related party 750,000 200,000
Other current assets 3,104,916 2,463,886
Total current assets 58,294,081 44,272,075
Restricted cash 90,000
Revenues in excess of billings, net - long term 1,752,554 5,173,538
Property and equipment, net 17,526,227 20,370,703
Other assets 3,279,468 3,211,295
Intangible assets, net 13,533,620 17,043,151
Goodwill 9,516,568 9,516,568
Total assets 103,902,518 99,677,330
Current liabilities:    
Accounts payable and accrued expenses 7,765,645 6,880,194
Current portion of loans and obligations under capitalized leases 9,099,822 10,222,795
Unearned revenues 7,841,096 3,925,702
Common stock to be issued 88,324 88,324
Total current liabilities 24,794,887 21,117,015
Loans and obligations under capitalized leases; less current maturities 296,211 366,762
Total liabilities 25,091,098 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; 11,457,673 shares issued and 11,251,820 outstanding as of March 31, 2018 and 11,225,385 shares issued and 11,190,606 outstanding as of June 30, 2017 114,577 112,254
Additional paid-in-capital 125,733,973 124,409,998
Treasury stock (At cost, 205,853 shares and 34,779 shares as of March 31, 2018 and June 30, 2017, respectively) (1,205,024) (454,310)
Accumulated deficit (39,172,022) (42,301,390)
Stock subscription receivable (221,000) (297,511)
Other comprehensive loss (22,005,245) (18,074,570)
Total NetSol stockholders’ equity 63,245,259 63,394,471
Non-controlling interest 15,566,161 14,799,082
Total stockholders’ equity 78,811,420 78,193,553
Total liabilities and stockholders’ equity $ 103,902,518 $ 99,677,330