Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2015
Jun. 30, 2015
Current assets:    
Cash and cash equivalents $ 10,075,324 $ 14,168,957
Restricted cash 90,000 90,000
Accounts receivable, net of allowance of 518,657 and 524,565 7,485,807 6,480,344
Accounts receivable, net - related party 4,409,186 3,491,899
Revenues in excess of billings 6,560,754 5,267,275
Other current assets 2,279,083 2,012,190
Total current assets 30,900,154 31,510,665
Property and equipment, net 24,053,908 25,119,634
Intangible assets, net 21,837,105 22,815,467
Goodwill 9,516,568 9,516,568
Total assets 86,307,735 88,962,334
Current liabilities:    
Accounts payable and accrued expenses 5,030,352 5,952,561
Current portion of loans and obligations under capitalized leases 4,241,836 3,896,353
Unearned revenues 4,302,524 4,897,327
Common stock to be issued 88,324 88,324
Total current liabilities 13,663,036 14,834,565
Long term loans and obligations under capitalized leases; less current maturities 329,834 487,492
Total liabilities $ 13,992,870 $ 15,322,057
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 10,322,826 shares issued and 10,295,547 outstanding as of September 30, 2015 and 10,307,826 shares issued and 10,280,547 outstanding as of June 30, 2015 $ 103,228 $ 103,078
Additional paid-in-capital 119,287,407 119,209,807
Treasury stock (27,279 shares) (415,425) (415,425)
Accumulated deficit (41,137,149) (40,726,121)
Stock subscription receivable (1,139,672) (1,204,603)
Other comprehensive loss (18,130,300) (17,167,100)
Total NetSol stockholders' equity 58,568,089 59,799,636
Non-controlling interest 13,746,776 13,840,641
Total stockholders' equity 72,314,865 73,640,277
Total liabilities and stockholders' equity $ 86,307,735 $ 88,962,334