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Note 16 - Commitments and Contingencies | 12 Months Ended
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Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16 – COMMITMENTS AND CONTINGENCIES
(A) | Non-cancellable operating leases
| · | The Company’s headquarters is located in Calabasas California with approximately 7,210 rentable square feet for $21,800 per month. The term of the lease is for five years and five months and expires August 31, 2017. A $23,821 security deposit is included in other current assets in the accompanying consolidated financial statements.
| · | The Australia lease is a two-year lease that expires in March 2016 with a monthly rent of approximately $6,070.
| · | The Beijing lease is a three-year lease that expires in January 2017 with a monthly rent of approximately $13,655.
| · | The Bangkok lease is a three years lease expiring in November 2016 with monthly rent of approximately $9,257.
| · | The NetSol Europe facilities, located in Horsham, United Kingdom, are leased until June 23, 2021 with an annual rent of approximately $118,993.
| · | VLS facilities, located in Chester, United Kingdom, are leased until July 2016 with an annual rent of approximately $36,125.
| · | NTA facilities are located in Alameda, California with a monthly rent of $8,381. The Alameda lease expires in November 2014, which has been renewed through December 2017.
| · | The NetSol Pindi office lease is a one year-lease that expires in April 2015 and currently is rented at the rate of approximately $665 per month.
Upon expiration of the leases, the Company does not anticipate any difficulty in obtaining renewals or alternative space. Rent expense amounted to $1,617,598 and $1,377,545 for the years ended June 30, 2014 and 2013, respectively. The total annual lease commitment for the next five years is as follows:
FYE 6/30/15 |  | $ | 896,624 |
FYE 6/30/16 |  |  | 847,584 |
FYE 6/30/17 |  |  | 670,565 |
FYE 6/30/18 |  |  | 310,612 |
FYE 6/30/19 |  |  | 118,993 |
(B) | Litigation
See Note 20, Subsequent Events for class action lawsuit filed on July 25, 2014.

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