Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 37

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 three months ended December 31, 2024 and 2023.

    Page 25

NETSOL
TECHNOLOGIES, INC. 

Notes
to Condensed Consolidated Financial Statements 

December
31, 2024 

(Unaudited)

Following are the aggregate
minimum future lease payments under finance leases as of December 31, 2024:

SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES 

    Amount 
  
    Minimum Lease Payments 

    Within year 1 
    $25,403 
  
    Within year 2 
     25,403 
  
    Within year 3 
     77,567 
  
    Total Minimum Lease Payments 
     128,373 
  
    Interest Expense relating to future periods 
     (28,834)
  
    Present Value of minimum lease payments 
     99,539 
  
    Less: Current portion 
     (12,588)
  
    Non-Current portion 
    $86,951 

Following are the aggregate
future long term debt payments as of December 31, 2024 which consists of “Sale and Leaseback Financing (8)”.

SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS 

    Amount 
  
    Loan Payments 

    Within year 1 
    $30,754 
  
    Within year 2 
     835 
  
    Total Loan Payments 
     31,589 
  
    Less: Current portion 
     (31,589)
  
    Non-Current portion 
    $- 

NOTE 13 - STOCKHOLDERS’
EQUITY

During
the three and six months ended December 31, 2024, the Company issued 15,174 and 29,124 shares of common stock for services rendered by
the independent members of the Board of Directors as part of their board compensation. These shares were valued at the fair market value
of $39,750 and $79,500, respectively.

During the three and six months
ended December 31, 2024, the employees of the Company exercised 190,000 and 200,000 options of common stock with an exercise price of
$2.15 per share for cash proceeds of $430,000.

Stock Grants

The following table summarizes
stock grants awarded as compensation:

SUMMARY OF UNVESTED STOCK GRANTS AWARDED