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, 2018
Jul. 02, 2018
Jun. 30, 2018
Sep. 30, 2017
Jun. 30, 2017
Current assets:          
Cash and cash equivalents $ 20,435,744 $ 22,088,853 $ 22,088,853 $ 8,554,815 $ 14,172,954
Accounts receivable, net of allowance of $610,061 and $571,511 7,487,381 12,775,461 12,775,461    
Accounts receivable, net - related party 3,039,320 3,374,272 3,374,272    
Revenues in excess of billings 13,335,529 6,956,966 14,285,778    
Revenues in excess of billings - related party 70,250    
Convertible note receivable - related party 2,881,500 2,123,500 2,123,500    
Other current assets 3,438,861 2,703,032 2,703,032    
Total current assets 50,688,585 50,022,084 57,350,896    
Revenues in excess of billings, net - long term 1,206,669    
Property and equipment, net 15,650,128 16,165,491 16,165,491    
Long term investment 2,958,692 3,217,162 3,217,162    
Other assets 54,936 70,299 70,299    
Intangible assets, net 11,465,925 12,247,196 12,247,196    
Goodwill 9,516,568 9,516,568 9,516,568    
Total assets 90,334,834 91,238,800 99,774,281    
Current liabilities:          
Accounts payable and accrued expenses 7,153,778 7,873,809 7,873,809    
Current portion of loans and obligations under capitalized leases 8,433,675 8,595,919 8,595,919    
Unearned revenues 4,913,731 6,167,755 5,949,581    
Common stock to be issued 88,324 88,324 88,324    
Total current liabilities 20,589,508 22,725,807 22,507,633    
Loans and obligations under capitalized leases; less current maturities 296,680 330,596 330,596    
Total liabilities 20,886,188 23,056,403 22,838,229    
Commitments and contingencies      
Stockholders' equity:          
Preferred stock, $.01 par value; 500,000 shares authorized;    
Common stock, $.01 par value; 14,500,000 shares authorized; 11,708,469 shares issued and 11,502,616 outstanding as of June 30, 2018 and 11,225,385 shares issued and 11,190,606 outstanding as of June 30, 2017 117,824 117,085 117,085    
Additional paid-in-capital 126,918,319 126,479,147 126,479,147    
Treasury stock (At cost, 205,853 shares and 34,779 shares as of June 30, 2018 and June 30, 2017, respectively) (1,205,024) (1,205,024) (1,205,024)    
Accumulated deficit (42,827,708) (43,790,297) (37,994,502)    
Stock subscription receivable (221,000) (221,000) (221,000)    
Other comprehensive loss (24,649,274) (24,386,071) (24,386,071)    
Total NetSol stockholders' equity 58,133,137 56,993,840 62,789,635    
Non-controlling interest 11,315,509 11,188,557 14,146,417    
Total stockholders' equity 69,448,646 68,182,397 76,936,052 $ 77,287,574 $ 78,193,553
Total liabilities and stockholders' equity $ 90,334,834 $ 91,238,800 $ 99,774,281