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Note 19 - Commitments and Contingencies | 12 Months Ended
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Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies Disclosure [Text Block] | NOTE 19 – COMMITMENTS AND CONTINGENCIES
(A) | Non-cancellable operating leases
| · | The Company’s headquarters is located in Calabasas, California in approximately 7,210 rentable square feet and a rent of $21,165 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 was for six months expiring June 30, 2013 and is rented at the rate of $6,091 per month.
| · | The Beijing lease is a three-year lease that expires in January 2014. The monthly rent is approximately $10,217.
| · | 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 $106,512.
| · | VLS facilities, located in London, United Kingdom, are leased until October 2015 for an annual rent of approximately $53,256.
| · | NTNA relocated to Alameda, California location. The Alameda lease is about to end in November 2013. The monthly rent is $8,759.
| · | The NetSol Pindi office lease is a one year-lease that expires in April 2014 and currently is rented at the rate of approximately $591 per month.
Upon expiration of its leases, the Company does not anticipate any difficulty in obtaining renewals or alternative space. Rent expense amounted to $1,377,545 and $1,026,304 for the years ended June 30, 2013 and 2012, respectively. The total annual lease commitment for the next five years is as follows:
FYE 6/30/14 |  | $ | 645,087 |
FYE 6/30/15 |  |  | 421,367 |
FYE 6/30/16 |  |  | 393,711 |
FYE 6/30/17 |  |  | 384,042 |
FYE 6/30/18 |  |  | 237,529 |
(B) | Litigation
As of June 30, 2013, and 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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