Annual report pursuant to Section 13 and 15(d)

OTHER CURRENT ASSETS

v3.22.2.2
OTHER CURRENT ASSETS
 12 Months Ended
Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER CURRENT ASSETS

NOTE 7 - OTHER CURRENT ASSETS

 

Other current assets consisted of the following:

  

                 
    As of     As of  
    June 30, 2022     June 30, 2021  
             
Prepaid Expenses   $ 1,389,370     $ 1,987,556  
Advance Income Tax     202,783       344,699  
Employee Advances     87,627       28,816  
Security Deposits     236,909       281,464  
Other Receivables     21,581       143,258  
Other Assets     285,091       223,600  
Due From Related Party     1,243,633       1,243,633  
Total     3,466,994       4,253,026  
Less allowance for doubtful account     (1,243,633 )     (1,243,633 )
Net Balance   $ 2,223,361     $ 3,009,393  

 

Due from related party is the amount receivable from WRLD3D for which we have provided an allowance for credit loss for the full amount, leaving a net balance of $0.

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2022 and 2021