Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 0

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
NETSOL
TECHNOLOGIES, INC. AND SUBSIDIARIES

Condensed
Consolidated Balance Sheets

(Unaudited)

    As of  
    As of 

    March
    31, 2025  
    June
    30, 2024 
  
    ASSETS 

    Current assets: 

    Cash and cash
    equivalents 
    $18,774,739  
    $19,127,165 
  
    Accounts receivable, net
    of allowance of $37,794 and $398,809 
     5,443,498  
     13,049,614 
  
    Revenues in excess of billings,
    net of allowance of $1,126,734 and $116,148 
     14,727,410  
     12,684,518 
  
    Other
    current assets 
     3,465,893  
     2,600,786 
  
    Total
    current assets 
     42,411,540  
     47,462,083 
  
    Revenues in excess of billings, net - long
    term 
     697,486  
     954,029 
  
    Property and equipment, net 
     4,768,844  
     5,106,842 
  
    Right of use assets - operating leases 
     930,847  
     1,328,624 
  
    Other assets 
     32,338  
     32,340 
  
    Goodwill 
     9,302,524  
     9,302,524 
  
    Total
    assets 
    $58,143,579  
    $64,186,442 

    LIABILITIES AND STOCKHOLDERS’
    EQUITY 

    Current liabilities: 

    Accounts payable and accrued
    expenses 
    $7,097,343  
    $8,232,342 
  
    Current portion of loans
    and obligations under finance leases 
     8,459,991  
     6,276,125 
  
    Current portion of operating
    lease obligations 
     475,888  
     608,202 
  
    Unearned
    revenue 
     2,705,414  
     8,752,153 
  
    Total