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OTHER CURRENT ASSETS
 6 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER CURRENT ASSETS

NOTE 8 - OTHER CURRENT ASSETS

 

Other current assets consisted of the following:

 

   As of   As of 
   December 31, 2022   June 30, 2022 
         
Prepaid Expenses  $1,634,444   $1,389,370 
Advance Income Tax   240,223    202,783 
Employee Advances   109,972    87,627 
Security Deposits   234,638    236,909 
Other Receivables   52,470    21,581 
Other Assets   476,773    285,091 
Due From Related Party   1,243,633    1,243,633 
Total   3,992,153    3,466,994 
Less allowance for doubtful account   (1,243,633)   (1,243,633)
Net Balance  $2,748,520   $2,223,361 

 

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

 

 

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

December 31, 2022

(Unaudited)