Quarterly report pursuant to Section 13 or 15(d)

Restatement of Previously Issued Financial Statements - Schedule of Condensed Consolidated Financial Statements (Details)

v3.8.0.1
Restatement of Previously Issued Financial Statements - Schedule of Condensed Consolidated Financial Statements (Details) - USD ($)
 3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Jun. 30, 2017
Sep. 30, 2016
Cash and cash equivalents $ 14,172,954 $ 11,156,437 $ 8,554,815 $ 14,172,954 $ 11,156,437
Accounts receivable, net of allowance of $500,853 and $492,498     7,469,888 6,583,199 7,142,255
Accounts receivable, net - related party     2,611,562 1,644,942 5,384,573
Revenues in excess of billings     22,104,283 19,126,389 15,433,769
Revenues in excess of billings - related party     80,057 80,705 682,049
Other current assets     2,940,599 2,463,886 3,192,425
Total current assets     44,461,204 44,272,075 42,991,508
Restricted cash     90,000 90,000 90,000
Property and equipment, net     19,646,592 20,370,703 22,612,752
Other assets     3,400,418 3,211,295 1,604,731
Intangible assets, net     16,139,921 17,043,151 19,326,259
Goodwill     9,516,568 9,516,568 9,516,568
Total assets     98,479,963 99,677,330 96,141,818
Accounts payable and accrued expenses     7,123,148 6,880,194 6,389,128
Current portion of loans and obligations under capitalized leases     10,016,697 10,222,795 4,408,173
Unearned revenues     3,656,591 3,925,702 4,419,692
Common stock to be issued     88,324 88,324 88,324
Total current liabilities     20,884,760 21,117,015 15,305,317
Long term loans and obligations under capitalized leases; less current maturities     307,629 366,762 539,859
Total liabilities     21,192,389 21,483,777 15,845,176
Commitments and contingencies        
Preferred stock, $.01 par value; 500,000 shares authorized;    
Common stock, $.01 par value; 14,500,000 shares authorized; 10,882,281 shares issued and 10,855,002 outstanding as of September 30, 2016 and 10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016     113,331 112,254 108,823
Additional paid-in-capital     124,987,029 124,409,998 122,367,231
Treasury stock (27,279 shares)     (954,973) (454,310) (415,425)
Accumulated deficit     (42,670,888) (42,301,390) (37,709,471)
Stock subscription receivable     (273,926) (297,511) (602,811)
Other comprehensive loss     (18,663,149) (18,074,570) (17,960,133)
Total NetSol stockholders’ equity     62,537,424 63,394,471 65,788,214
Non-controlling interest     14,750,150 14,799,082 14,508,428
Total stockholders’ equity     77,287,574 78,193,553 80,296,642
Total liabilities and stockholders’ equity     $ 98,479,963 $ 99,677,330 96,141,818
License fees 326,066 5,453,795      
Maintenance fees 3,473,725 3,523,797      
Services 7,017,737 5,556,135      
License fees - related party 44,408 246,957      
Maintenance fees - related party 102,963 130,631      
Services - related party 1,853,877 2,165,154      
Total net revenues 12,818,776 17,076,469      
Salaries and consultants 5,464,160 5,893,349      
Travel 513,112 711,895      
Depreciation and amortization 1,173,113 1,330,872      
Other 856,582 972,338      
Total cost of revenues 8,006,967 8,908,454      
Gross profit 4,811,809 8,168,015      
Selling and marketing 1,711,296 2,344,038      
Depreciation and amortization 245,873 269,097      
General and administrative 3,787,558 4,619,196      
Research and development cost 185,085 92,932      
Total operating expenses 5,929,812 7,325,263      
Income (loss) from operations (1,118,003) 842,752      
Loss on sale of assets (7,130) (2,403)      
Interest expense (118,071) (54,475)      
Interest income 136,911 30,440      
Loss on foreign currency exchange transactions 1,016,362 (414,896)      
Other income   21,560      
Total other income (expenses) 961,609 (419,774)      
Net income (loss) before  income taxes (156,394) 422,978      
Income tax provision (24,871) (39,875)      
Net income (loss) (181,265) 383,103      
Non-controlling interest (188,233) (769,214)      
Net income (loss) attributable to NetSol $ (369,498) $ (386,111)      
Net income (loss) per common share - Basic $ (0.03) $ (0.04)      
Net income (loss) per common share - Diluted $ (0.03) $ (0.04)      
Weighted average number of shares outstanding - Basic 11,099,113 10,697,425      
Weighted average number of shares outstanding - Diluted 11,099,113 10,697,425      
Translation adjustment $ (825,744) $ 1,094,074      
Comprehensive income (loss) (588,579) 770,361      
Comprehensive income (loss) attributable to non-controlling interest (237,165) 323,713      
Comprehensive income (loss) attributable to NetSol (958,077) 384,250      
Depreciation and amortization 1,418,986 1,599,969      
Stock issued for services 427,809 865,456      
Fair market value of warrants and stock options granted 21,804      
Accounts receivable (903,730) 2,336,894      
Accounts receivable - related party (1,251,994) 121,800      
Revenues in excess of billing (3,230,619) (4,821,828)      
Revenues in excess of billing - related party (130) 93,208      
Other current assets (478,390) 306,339      
Accounts payable and accrued expenses 243,144 (780,569)      
Unearned revenue (270,743) (346,108)      
Net cash used in operating activities (4,152,240) (217,529)      
Purchases of property and equipment (328,163) (554,873)      
Sales of property and equipment 116,023 151,818      
Investment (555,555)      
Net cash used in investing activities (712,140) (958,610)      
Proceeds from the exercise of stock options and warrants 162,385 276,861      
Proceeds from exercise of subsidiary options 14,013      
Payments on capital lease obligations and loans - net (148,707) (49,117)      
Net cash provided by financing activities (486,985) 241,757      
Effect of exchange rate changes (266,774) 533,292      
Net decrease in cash and cash equivalents (5,618,139) (401,090)      
Cash and cash equivalents, beginning of the period 14,172,954 11,557,527      
Cash and cash equivalents, end of period $ 8,554,815 11,156,437      
As Originally Presented [Member]          
Cash and cash equivalents   11,156,437     11,156,437
Accounts receivable, net of allowance of $500,853 and $492,498         7,142,255
Accounts receivable, net - related party         5,384,573
Revenues in excess of billings         13,358,858
Revenues in excess of billings - related party         682,049
Other current assets         3,192,425
Total current assets         40,916,597
Restricted cash         90,000
Property and equipment, net         22,612,752
Other assets         1,604,731
Intangible assets, net         19,326,259
Goodwill         9,516,568
Total assets         94,066,907
Accounts payable and accrued expenses         6,389,128
Current portion of loans and obligations under capitalized leases         4,408,173
Unearned revenues         4,419,692
Common stock to be issued         88,324
Total current liabilities         15,305,317
Long term loans and obligations under capitalized leases; less current maturities         539,859
Total liabilities         15,845,176
Commitments and contingencies        
Preferred stock, $.01 par value; 500,000 shares authorized;        
Common stock, $.01 par value; 14,500,000 shares authorized; 10,882,281 shares issued and 10,855,002 outstanding as of September 30, 2016 and 10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016         108,823
Additional paid-in-capital         122,367,231
Treasury stock (27,279 shares)         (415,425)
Accumulated deficit         (39,089,079)
Stock subscription receivable         (602,811)
Other comprehensive loss         (17,960,133)
Total NetSol stockholders’ equity         64,408,606
Non-controlling interest         13,813,125
Total stockholders’ equity         78,221,731
Total liabilities and stockholders’ equity         94,066,907
License fees   3,499,860      
Maintenance fees   3,402,821      
Services   5,806,717      
License fees - related party   246,957      
Maintenance fees - related party   130,631      
Services - related party   1,914,572      
Total net revenues   15,001,558      
Salaries and consultants   5,893,349      
Travel   711,895      
Depreciation and amortization   1,330,872      
Other   972,338      
Total cost of revenues   8,908,454      
Gross profit   6,093,104      
Selling and marketing   2,411,136      
Depreciation and amortization   269,097      
General and administrative   4,552,098      
Research and development cost   92,932      
Total operating expenses   7,325,263      
Income (loss) from operations   (1,232,159)      
Loss on sale of assets   (2,403)      
Interest expense   (54,475)      
Interest income   30,440      
Loss on foreign currency exchange transactions   (414,896)      
Other income   21,560      
Total other income (expenses)   (419,774)      
Net income (loss) before  income taxes   (1,651,933)      
Income tax provision   (39,875)      
Net income (loss)   (1,691,808)      
Non-controlling interest   (73,911)      
Net income (loss) attributable to NetSol   $ (1,765,719)      
Net income (loss) per common share - Basic   $ (0.17)      
Net income (loss) per common share - Diluted   $ (0.17)      
Weighted average number of shares outstanding - Basic   10,697,425      
Weighted average number of shares outstanding - Diluted   10,697,425      
Translation adjustment   $ 1,094,074      
Comprehensive income (loss)   (671,645)      
Comprehensive income (loss) attributable to non-controlling interest   323,713      
Comprehensive income (loss) attributable to NetSol   (995,358)      
Depreciation and amortization   1,599,969      
Stock issued for services   865,456      
Fair market value of warrants and stock options granted   21,804      
Accounts receivable   2,336,894      
Accounts receivable - related party   121,800      
Revenues in excess of billing   (2,746,917)      
Revenues in excess of billing - related party   93,208      
Other current assets   306,339      
Accounts payable and accrued expenses   (780,569)      
Unearned revenue   (346,108)      
Net cash used in operating activities   (217,529)      
Purchases of property and equipment   (554,873)      
Sales of property and equipment   151,818      
Investment   (555,555)      
Net cash used in investing activities   (958,610)      
Proceeds from the exercise of stock options and warrants   276,861      
Proceeds from exercise of subsidiary options   14,013      
Payments on capital lease obligations and loans - net   (49,117)      
Net cash provided by financing activities   241,757      
Effect of exchange rate changes   533,292      
Net decrease in cash and cash equivalents   (401,090)      
Cash and cash equivalents, beginning of the period   11,557,527      
Cash and cash equivalents, end of period   11,156,437      
Amount of Restatement [Member]          
Cash and cash equivalents      
Revenues in excess of billings         2,074,911
Total current assets         2,074,911
Total assets         2,074,911
Total current liabilities        
Total liabilities        
Commitments and contingencies        
Preferred stock, $.01 par value; 500,000 shares authorized;        
Accumulated deficit         1,379,608
Total NetSol stockholders’ equity         1,379,608
Non-controlling interest         695,303
Total stockholders’ equity         2,074,911
Total liabilities and stockholders’ equity         $ 2,074,911
License fees   1,953,935      
Maintenance fees   120,976      
Total net revenues   2,074,911      
Total cost of revenues        
Gross profit   2,074,911      
Total operating expenses        
Income (loss) from operations   2,074,911      
Total other income (expenses)        
Net income (loss) before  income taxes   2,074,911      
Net income (loss)   2,074,911      
Non-controlling interest   (695,303)      
Net income (loss) attributable to NetSol   $ 1,379,608      
Net income (loss) per common share - Basic   $ 0.14      
Net income (loss) per common share - Diluted   $ 0.14      
Weighted average number of shares outstanding - Basic   10,697,425      
Weighted average number of shares outstanding - Diluted   10,697,425      
Translation adjustment        
Comprehensive income (loss)   1,379,608      
Comprehensive income (loss) attributable to non-controlling interest        
Comprehensive income (loss) attributable to NetSol   1,379,608      
Revenues in excess of billing   (2,074,911)      
Net cash used in operating activities        
Net cash used in investing activities        
Net cash provided by financing activities        
Net decrease in cash and cash equivalents        
Cash and cash equivalents, beginning of the period          
Cash and cash equivalents, end of period