Netsol technologies inc (NTWK)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11
ASSETS
Current assets:
Cash and cash equivalents

15,743

22,083

17,621

17,366

17,014

20,320

20,435

22,088

22,088

12,711

10,004

8,554

14,172

8,450

9,505

11,156

11,557

11,881

13,986

10,075

14,168

10,887

13,486

10,382

11,462

12,383

11,581

6,755

7,874

7,706

9,579

8,019

7,599

9,118

4,723

3,123

4,172

Accounts receivable, net of allowance of $364,383 and $192,786

12,900

8,401

8,079

12,332

15,971

7,852

7,487

12,775

12,775

22,874

19,106

7,469

6,583

10,301

5,840

7,142

9,691

6,072

6,025

7,485

6,480

7,520

7,706

11,082

5,219

12,967

16,684

18,535

12,761

17,623

15,621

18,077

13,757

14,654

12,209

13,864

15,062

Accounts receivable, net of allowance of $54,307 and $166,075 - related party

1,332

1,231

3,225

3,266

3,012

2,944

3,039

3,374

3,374

3,412

2,582

2,611

1,644

4,414

4,303

5,384

5,691

6,467

5,749

4,409

3,491

2,498

2,123

2,603

2,416

-

-

-

1,922

-

-

-

-

-

-

-

-

Revenues in excess of billings, net of allowance of $190,811 and $194,684

15,301

15,850

16,345

14,719

13,381

-

-

6,956

14,285

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revenues in excess of billings - related party

8

101

-

110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible note receivable - related party

4,250

4,185

-

3,650

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revenues in excess of billings

-

-

-

-

-

13,832

13,335

-

-

15,286

16,094

22,104

19,126

20,893

18,019

15,433

10,493

8,860

4,876

5,969

5,251

4,837

-

-

2,377

-

-

-

-

-

-

-

-

-

-

-

-

Revenues in excess of billings - related party

-

-

48

-

61

62

70

-

-

153

107

80

80

94

469

682

804

-

-

-

16

188

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible note receivable - related party

-

-

4,085

-

3,250

3,156

2,881

2,123

2,123

750

750

700

200

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revenues in excess of billings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,098

2,173

-

4,519

6,271

11,435

15,367

11,650

11,443

10,529

12,131

9,310

9,553

7,038

7,601

Other current assets

3,593

3,392

3,351

3,146

3,593

4,092

3,438

2,703

2,703

3,104

2,819

2,940

2,463

3,040

2,904

3,192

2,214

2,756

2,671

2,279

1,871

2,515

2,564

2,405

2,857

3,017

2,210

2,841

2,273

2,763

2,118

2,357

2,648

2,631

2,144

2,081

2,053

Total current assets

53,129

55,245

52,756

54,591

56,284

52,261

50,688

50,022

57,350

58,294

51,464

44,461

44,272

47,196

41,042

42,991

40,451

36,127

33,399

30,309

31,279

28,537

29,068

28,738

26,862

35,383

39,283

41,870

42,074

41,810

41,162

40,697

36,278

35,804

31,333

28,808

34,590

Revenues in excess of billings, net - long term

1,282

1,291

1,246

1,281

-

-

-

-

1,206

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

0

90

90

-

90

90

90

90

90

-

-

90

90

90

90

2,528

2,495

2,535

2,301

1,875

2,066

2,398

1,712

141

90

2,703

2,700

5,700

Revenues in excess of billings, net - long term

-

-

-

-

-

-

0

-

-

1,752

6,668

5,225

5,173

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

555

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment under equity method

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

175

378

554

545

530

547

-

-

-

-

-

-

Property and equipment, net

11,553

12,668

12,478

12,096

14,374

14,005

15,650

16,165

16,165

17,526

18,443

19,646

20,370

21,205

21,873

22,612

22,774

23,178

23,251

24,053

25,119

26,410

27,543

27,852

29,721

27,625

23,577

21,493

20,978

20,160

18,434

17,437

16,912

16,877

16,919

16,469

16,014

Right of use of assets - operating leases

2,690

3,050

2,734

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long term investment

2,329

2,411

2,460

2,653

2,501

2,689

2,958

3,217

3,217

-

-

-

3,057

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

23

24

25

23

23

35

54

70

70

3,279

3,543

3,400

244

2,549

2,054

1,604

842

-

-

-

141

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets, net

5,880

6,792

7,159

7,332

9,042

9,637

11,465

12,247

12,247

13,533

14,810

16,139

17,043

17,662

18,423

19,326

19,674

20,276

20,877

21,837

22,815

24,777

26,030

26,376

28,803

30,850

29,176

28,775

29,452

38,647

38,410

38,426

28,502

38,730

-

35,951

25,602

Intangible assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,993

28,756

28,772

-

29,077

-

26,364

-

Goodwill

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,516

9,653

9,653

9,653

9,653

9,653

9,653

9,653

9,653

9,653

9,653

9,439

9,439

Total intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,071

147

35,041

Total assets

86,406

91,001

88,379

87,497

91,743

88,145

90,334

91,238

99,774

103,902

104,537

98,479

99,677

98,221

93,001

96,141

93,349

89,655

87,046

85,716

88,962

89,242

92,159

92,483

94,903

103,688

102,069

102,347

102,704

101,149

98,554

96,560

91,347

91,412

85,978

81,228

85,646

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses

7,107

7,927

7,377

7,476

6,881

7,468

7,153

7,873

7,873

7,765

7,560

7,123

6,880

7,404

7,373

6,389

5,962

6,354

5,907

5,030

5,952

5,310

4,971

4,653

5,234

5,250

5,411

4,498

4,027

4,558

4,034

4,242

3,869

4,624

4,935

4,069

4,730

Current portion of loans and obligations under finance leases

8,794

9,436

7,097

6,905

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of operating lease obligations

1,146

1,182

920

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of loans and obligations under capitalized leases

-

-

-

-

8,111

7,627

8,433

8,595

8,595

9,099

10,133

10,016

10,222

5,650

4,368

4,408

4,440

4,538

3,767

4,241

3,896

2,989

3,217

3,212

5,791

5,855

5,535

3,660

5,308

3,385

3,473

3,430

1,631

1,955

4,413

4,092

7,062

Other payables - acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103

-

103

103

103

103

103

103

103

103

Unearned revenues

3,440

3,135

4,424

5,977

6,241

4,705

4,913

6,167

5,949

7,841

10,082

3,656

3,925

4,025

2,884

4,419

4,739

3,412

3,361

4,213

4,897

5,646

8,141

8,081

3,239

3,607

4,779

3,987

2,446

3,798

4,510

4,274

2,704

3,359

3,296

2,475

2,653

Unearned revenues - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible notes payable, current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

379

2,656

2,681

2,809

-

-

-

2,745

Loans payable, bank

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,874

-

2,008

2,051

2,092

2,116

2,198

2,217

2,269

2,319

Common stock to be issued

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

88

721

378

347

342

320

320

88

88

88

108

105

106

125

206

400

Total current liabilities

20,578

21,770

19,908

20,448

21,322

19,890

20,589

22,725

22,507

24,794

27,864

20,884

21,117

17,168

14,714

15,305

15,230

14,393

13,124

13,574

14,834

14,085

17,051

16,325

14,613

15,055

16,046

14,445

11,870

14,322

16,917

16,934

13,339

12,349

15,091

13,216

20,014

Loans and obligations under finance leases; less current maturities

305

417

493

564

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease obligations; less current maturities

1,635

1,966

1,912

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans and obligations under capitalized leases; less current maturities

-

-

-

-

716

345

296

330

330

296

250

307

366

499

501

539

477

315

273

329

487

-

-

-

-

-

-

-

-

240

276

303

-

196

245

257

-

Obligations under capitalized leases, less current maturities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

285

Convertible notes payable less current maturities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

936

3,692

3,640

3,587

-

Long term loans and obligations under capitalized leases; less current maturities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

594

1,082

1,390

1,532

1,837

1,602

1,416

1,412

1,160

1,294

1,506

2,076

1,950

1,798

425

434

Total liabilities

22,520

24,155

22,314

21,012

22,039

20,235

20,886

23,056

22,838

25,091

28,114

21,192

21,483

17,668

15,216

15,845

15,708

14,709

13,397

13,903

15,322

14,679

18,133

17,716

16,145

16,893

17,648

15,861

13,282

15,723

18,489

18,744

16,352

18,188

20,775

17,487

20,735

Commitments and contingencies

-

-

-

-

-

-

0

-

-

0

0

-

0

0

0

0

0

-

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

0

0

Stockholders' equity:
Preferred stock, $.01 par value; 500,000 shares authorized;

-

-

-

-

-

-

0

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Common stock, $.01 par value; 14,500,000 shares authorized; 12,038,697 shares issued and 11,791,194 outstanding as of March 31, 2020 and 11,911,742 shares issued and 11,664,239 outstanding as of June 30, 2019

120

120

119

119

118

118

117

117

117

114

113

113

112

111

109

108

107

105

104

103

103

101

97

94

91

91

90

89

89

87

80

79

75

74

56

56

55

Additional paid-in-capital

128,374

128,197

128,052

127,737

127,551

127,398

126,918

126,479

126,479

125,733

125,354

124,987

124,409

123,693

123,019

122,367

121,448

120,513

119,890

119,287

119,209

118,387

117,834

-

115,394

-

-

-

-

-

-

-

-

-

-

-

-

Additional paid-in-capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116,655

-

115,786

115,551

114,914

114,292

113,086

109,220

108,576

106,101

105,787

99,428

98,844

97,886

Treasury stock (At cost, 247,503 shares and 247,503 shares as of March 31, 2020 and June 30, 2019, respectively)

1,455

1,455

1,455

1,455

1,205

1,205

1,205

1,205

1,205

1,205

1,055

954

454

454

454

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

415

396

396

Accumulated deficit

-35,448

-36,448

-37,034

-35,206

-38,704

-39,972

-42,827

-43,790

-37,994

-39,172

-42,036

-42,670

-42,301

-39,177

-39,877

-37,709

-37,323

-39,412

-40,262

-41,464

-40,726

-40,018

-38,382

-37,015

-35,177

-27,845

-26,545

-24,918

-23,821

-26,969

-28,532

-30,755

-31,684

-33,585

-35,271

-35,589

-34,130

Stock subscription receivable

-

-

-

-

221

221

221

221

221

221

221

273

297

359

450

602

783

947

1,139

1,139

1,204

1,298

2,280

2,280

2,280

2,280

2,280

2,130

2,280

2,020

2,342

2,269

2,119

2,033

2,031

2,031

2,198

Other comprehensive loss

-34,065

-30,456

-32,221

-33,125

-28,474

-28,446

-24,649

-24,386

-24,386

-22,005

-20,276

-18,663

-18,074

-18,797

-18,628

-17,960

-18,730

-18,898

-18,546

-18,130

-17,167

-15,669

-16,208

-16,934

-14,979

-14,915

-18,295

-17,916

-15,714

-14,742

-13,893

-12,897

-12,361

-10,187

-9,964

-9,362

-8,805

Total NetSol stockholders' equity

57,525

59,956

57,459

58,069

59,065

57,672

58,133

56,993

62,789

63,245

61,879

62,537

63,394

65,016

63,718

65,788

64,303

60,944

59,631

58,241

59,799

61,086

60,645

60,104

62,633

70,421

68,105

69,624

72,150

69,026

64,117

62,317

59,595

59,640

51,803

51,520

52,410

Non-controlling interest

6,361

6,890

8,605

8,414

10,638

10,237

11,315

11,188

14,146

15,566

14,543

14,750

14,799

15,537

14,066

14,508

13,337

14,001

14,016

13,571

13,840

13,476

13,380

14,662

16,124

16,373

16,315

16,861

17,271

16,399

15,947

15,499

15,399

13,584

13,400

12,220

12,500

Total stockholders' equity

63,886

66,846

66,065

66,484

69,703

67,909

69,448

68,182

76,936

78,811

76,422

77,287

78,193

80,553

77,784

80,296

77,641

74,946

73,648

71,812

73,640

74,562

74,025

74,767

78,757

86,794

84,420

86,485

89,421

85,426

80,064

77,816

74,994

73,224

65,203

63,741

64,911

Total liabilities and stockholders' equity

86,406

91,001

88,379

87,497

91,743

88,145

90,334

91,238

99,774

103,902

104,537

98,479

99,677

98,221

93,001

96,141

93,349

89,655

87,046

85,716

88,962

89,242

92,159

92,483

94,903

103,688

102,069

102,347

102,704

101,149

98,554

96,560

91,347

91,412

85,978

81,228

85,646