Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2013
Jun. 30, 2012
Current assets:    
Cash and cash equivalents $ 7,874,318 $ 7,599,607
Restricted cash 1,875,237 141,231
Accounts receivable, net 14,684,212 13,757,637
Revenues in excess of billings 15,367,198 12,131,329
Other current assets 2,273,314 2,648,302
Total current assets 42,074,279 36,278,106
Investment under equity method 545,483  
Property and equipment, net 20,978,369 16,912,795
Intangible assets, net 29,452,654 28,502,983
Goodwill 9,653,330 9,653,330
Total assets 102,704,115 91,347,214
Current liabilities:    
Accounts payable and accrued expenses 3,923,921 3,869,355
Current portion of loans and obligations under capitalized leases 3,326,465 1,631,687
Other payables - acquisitions 103,226 103,226
Unearned revenues 2,446,018 2,704,661
Convertible notes payable, current portion   2,809,093
Loans payable, bank 1,982,161 2,116,402
Common stock to be issued 88,325 105,575
Total current liabilities 11,870,116 13,339,999
Convertible notes payable less current maturities   936,364
Long term loans and obligations under capitalized leases; less current maturities 1,412,212 2,076,199
Total liabilities 13,282,328 16,352,562
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 15,000,000 shares authorized; 8,929,523 & 7,513,745 issued and outstanding as of June 30, 2013 and 2012 89,295 75,137
Additional paid-in-capital 114,292,510 106,101,165
Treasury stock (415,425) (415,425)
Accumulated deficit (23,821,256) (31,684,399)
Stock subscription receivable (2,280,488) (2,119,488)
Other comprehensive loss (15,714,112) (12,361,759)
Total NetSol stockholders' equity 72,150,524 59,595,231
Non-controlling interest 17,271,263 15,399,421
Total stockholders' equity 89,421,787 74,994,652
Total liabilities and stockholders' equity $ 102,704,115 $ 91,347,214