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, 2014
Jun. 30, 2014
Current assets:    
Cash and cash equivalents $ 10,382,556 $ 11,462,695
Restricted cash 90,000 2,528,844
Accounts receivable, net 11,082,983 5,403,165
Accounts receivable, net - related party 2,603,418 2,232,610
Revenues in excess of billings 2,173,990 2,377,367
Other current assets 2,405,266 2,857,879
Total current assets 28,738,213 26,862,560
Property and equipment, net 27,852,410 29,721,128
Intangible assets, net 26,376,366 28,803,018
Goodwill 9,516,568 9,516,568
Total assets 92,483,557 94,903,274
Current liabilities:    
Accounts payable and accrued expenses 4,653,499 5,234,887
Current portion of loans and obligations under capitalized leases 3,212,477 5,791,258
Unearned revenues 8,081,082 3,239,852
Common stock to be issued 378,487 347,518
Total current liabilities 16,325,545 14,613,515
Long term loans and obligations under capitalized leases; less current maturities 1,390,770 1,532,080
Total liabilities 17,716,315 16,145,595
Commitments and contingencies      
Stockholders' equity:    
Common stock, $.01 par value; 14,500,000 shares authorized; 9,477,860 and 9,150,889 issued and outstanding as of September 30, 2014 and June 30, 2014 94,778 91,509
Additional paid-in-capital 116,655,643 115,394,097
Treasury stock (415,425) (415,425)
Accumulated deficit (37,015,329) (35,177,303)
Stock subscription receivable (2,280,488) (2,280,488)
Other comprehensive loss (16,934,777) (14,979,223)
Total NetSol stockholders' equity 60,104,402 62,633,167
Non-controlling interest 14,662,840 16,124,512
Total stockholders' equity 74,767,242 78,757,679
Total liabilities and stockholders' equity $ 92,483,557 $ 94,903,274