Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Jun. 30, 2012
Jun. 30, 2011
Current assets:    
Cash and cash equivalents $ 7,599,607 $ 4,172,802
Restricted cash 141,231 5,700,000
Accounts receivable, net 13,757,637 15,062,502
Revenues in excess of billings 12,131,329 7,601,230
Other current assets 2,648,302 2,053,904
Total current assets 36,278,106 34,590,438
Property and equipment, net 16,912,795 16,014,461
Intangible assets, net 28,502,983 25,602,195
Goodwill 9,653,330 9,439,285
Total intangibles 38,156,313 35,041,480
Total assets 91,347,214 85,646,379
Current liabilities:    
Accounts payable and accrued expenses 3,869,355 4,730,027
Current portion of loans and obligations under capitalized leases 1,896,238 7,062,535
Other payables - acquisitions 103,226 103,226
Unearned revenues 2,704,661 2,653,460
Convertible notes payable , current portion 2,809,093 2,745,524
Loans payable, bank 2,116,402 2,319,377
Common stock to be issued 105,575 400,700
Total current liabilities 13,604,550 20,014,849
Obligations under capitalized leases, less current maturities 260,107 285,472
Convertible notes payable less current maturities 936,364  
Long term loans; less current maturities 1,551,541 434,884
Total liabilities 16,352,562 20,735,205
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 9,500,000 shares authorized; 7,513,745 & 5,553,186 issued and outstanding as of June 30, 2012 and 2011 75,137 55,532
Additional paid-in-capital 106,101,165 97,886,492
Treasury stock (415,425) (396,008)
Accumulated deficit (31,684,399) (34,130,944)
Stock subscription receivable (2,119,488) (2,198,460)
Other comprehensive loss (12,361,759) (8,805,922)
Total NetSol shareholders' equity 59,595,231 52,410,690
Non-controlling interest 15,399,421 12,500,484
Total stockholders' equity 74,994,652 64,911,174
Total liabilities and stockholders' equity $ 91,347,214 $ 85,646,379