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Note 19 - Commitments and Contingencies | 12 Months Ended
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Jun. 30, 2012
Commitments and Contingencies Disclosure [Text Block] | NOTE 19 – COMMITMENTS AND CONTINGENCIES
(A) | Leases
The Company’s headquarters is located in California in approximately 7,210 rentable square feet and a rent of $20,417 per month. The term of the lease is for five years and five months and expires on August 31, 2017. A security deposit of $23,821 was made and is included in other current assets in the accompanying consolidated financial statements. The Australia lease is a month to month lease and is rented at the rate of $175 per month. The Beijing lease is a three-year lease that expires in January 2014. The monthly rent is approximately $10,242. The Bangkok lease is a three years lease expiring in November 2013 with monthly rent of approximately $8,140. The NetSol Europe facilities, located in Horsham, United Kingdom, are leased until June 23, 2021 for an annual rent of approximately $109,319. VLS facilities, located in London, United Kingdom, are leased until October 2015 for an annual rent of approximately $54,660. NTNA relocated to Alameda, California location. The Alameda lease is about to end in November 2012. The monthly rent is $7,148. The NetSol Connect Karachi lease is a one-year lease that expires on December 2012 and currently is rented at the rate of approximately $1,323 per month. The NetSol Pindi office lease is a one year-lease that expires in April 2013 and currently is rented at the rate of approximately $529 per month. Upon expiration of its leases, the Company does not anticipate any difficulty in obtaining renewals or alternative space. Rent expense amounted to $1,026,304 and $861,262 for the years ended June 30, 2012 and 2011, respectively. The total annual lease commitment for the next five years is as follows:
FYE 6/30/13 |  | $ | 608,307 |
FYE 6/30/14 |  |  | 553,805 |
FYE 6/30/15 |  |  | 425,577 |
FYE 6/30/16 |  |  | 396,986 |
FYE 6/30/17 |  |  | 386,849 |
(B) | Litigation
As of June 30, 2012 and 2011, to the best knowledge of the Company’s management and counsel, there is no material litigation pending or threatened against the Company.

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