Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Jun. 30, 2013
Current assets:    
Cash and cash equivalents $ 11,462,695 $ 7,874,318
Restricted cash 2,528,844 1,875,237
Accounts receivable, net 5,403,165 12,761,375
Accounts receivable, net-related party 2,232,610 1,922,837
Revenues in excess of billings 2,377,367 15,367,198
Other current assets 2,857,879 2,273,314
Total current assets 26,862,560 42,074,279
Investment under equity method   545,483
Property and equipment, net 29,721,128 20,978,369
Intangible assets, net 28,803,018 29,452,654
Goodwill 9,516,568 9,653,330
Total assets 94,903,274 102,704,115
Current liabilities:    
Accounts payable and accrued expenses 5,234,887 4,027,147
Current portion of loans and obligations under capitalized leases 5,791,258 5,308,626
Unearned revenues 3,239,852 2,446,018
Common stock to be issued 347,518 88,325
Total current liabilities 14,613,515 11,870,116
Long term loans and obligations under capitalized leases; less current maturities 1,532,080 1,412,212
Total liabilities 16,145,595 13,282,328
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 14,500,000 shares authorized; 9,150,889 and 8,929,523 issued and outstanding as of June 30, 2014 and 2013 91,509 89,295
Additional paid-in-capital 115,394,097 114,292,510
Treasury stock (415,425) (415,425)
Accumulated deficit (35,177,303) (23,821,256)
Stock subscription receivable (2,280,488) (2,280,488)
Other comprehensive loss (14,979,223) (15,714,112)
Total NetSol stockholders' equity 62,633,167 72,150,524
Non-controlling interest 16,124,512 17,271,263
Total stockholders' equity 78,757,679 89,421,787
Total liabilities and stockholders' equity $ 94,903,274 $ 102,704,115