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OTHER CURRENT ASSETS
 12 Months Ended
Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER CURRENT ASSETS

NOTE 7 - OTHER CURRENT ASSETS

 

Other current assets consisted of the following:

  

           
   As of   As of 
   June 30, 2022   June 30, 2021 
         
Prepaid Expenses  $1,389,370   $1,987,556 
Advance Income Tax   202,783    344,699 
Employee Advances   87,627    28,816 
Security Deposits   236,909    281,464 
Other Receivables   21,581    143,258 
Other Assets   285,091    223,600 
Due From Related Party   1,243,633    1,243,633 
Total   3,466,994    4,253,026 
Less allowance for doubtful account   (1,243,633)   (1,243,633)
Net Balance  $2,223,361   $3,009,393 

 

Due from related party is the amount receivable from WRLD3D for which we have provided an allowance for credit loss for the full amount, leaving a net balance of $0.

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2022 and 2021