Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 0

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
NETSOL
TECHNOLOGIES, INC. AND SUBSIDIARIES

Condensed
Consolidated Balance Sheets

(Unaudited)

    As of  
    As of 

    December 31, 2024  
    June 30, 2024 
  
    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $21,270,642  
    $19,127,165 
  
    Accounts receivable, net of allowance of $17,028 and $398,809 
     7,829,823  
     13,049,614 
  
    Revenues in excess of billings, net of allowance of $595,875 and $116,148 
     10,661,549  
     12,684,518 
  
    Other current assets 
     3,191,378  
     2,600,786 
  
    Total current assets 
     42,953,392  
     47,462,083 
  
    Revenues in excess of billings, net - long term 
     777,428  
     954,029 
  
    Property and equipment, net 
     4,934,498  
     5,106,842 
  
    Right of use assets - operating leases 
     1,069,948  
     1,328,624 
  
    Other assets 
     32,339  
     32,340 
  
    Intangible assets, net 
     -  
     - 
  
    Goodwill 
     9,302,524  
     9,302,524 
  
    Total assets 
    $59,070,129  
    $64,186,442 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current liabilities: 

    Accounts payable and accrued expenses 
    $7,332,560  
    $8,232,342 
  
    Current portion of loans and obligations under finance leases 
     8,784,232  
     6,276,125 
  
    Current portion of operating lease obligations 
     518,075  
     608,202 
  
    Unearned revenue 
     3,320,286  
     8,752,153 
  
    Total current liabilities 
     19,955,153