Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 73

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 73
---
    Non-cash stock-based compensation 
     2,462  
     3,783  
     5,062  
     7,524 
  
    Adjusted EBITDA of non-controlling interest 
    $61,529  
    $710,171  
    $207,310  
    $1,109,611 

Page 48

LIQUIDITY AND CAPITAL RESOURCES

Our cash
position was $21,270,642 at December 31, 2024, compared to $19,127,165 at June 30, 2024.

Net cash
provided by operating activities was $369,716 for the six months ended December 31, 2024 compared to $604,684 for the six months ended
December 31, 2023. At December 31, 2024, we had current assets of $42,953,392 and current liabilities of $19,955,153. We had accounts
receivable of $7,829,823 at December 31, 2024 compared to $13,049,614 at June 30, 2024. We had revenues in excess of billings of $11,438,977
at December 31, 2024 compared to $13,638,547 at June 30, 2024 of which $777,428 and $954,029 is shown as long term as of December 31,
2024 and June 30, 2024, respectively. The long-term portion was discounted by $115,126 and $152,446 at December 31, 2024 and June 30,
2024, respectively, using the discounted cash flow method with interest rates ranging from 7.3% to 17.5%. During the six months ended
December 31, 2024, our revenues in excess of billings were reclassified to accounts receivable pursuant to billing requirements detailed
in each contract. The combined totals for accounts receivable and revenues in excess of billings decreased by $4,508,691 from $26,688,161
at June 30, 2024 to $19,268,800 at December 31, 2024. Accounts payable and accrued expenses, and current portions of loans and lease
obligations amounted to $7,332,560 and $8,784,232, respectively at December 31, 2024. Accounts payable and accrued expenses