Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 97

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
---
,524 
  
    Advance Income Tax 
     401,009  
     300,368 
  
    Employee Advances 
     166,523  
     165,264 
  
    Security Deposits 
     160,192  
     199,633 
  
    Other Receivables 
     467,992  
     258,880 
  
    Other Assets 
     480,838  
     362,117 
  
    Net Balance 
    $3,465,893  
    $2,600,786 

    Page 20

NETSOL
                                            TECHNOLOGIES, INC.

Notes
to Condensed Consolidated Financial Statements

March
31, 2025

(Unaudited)

NOTE
8 – REVENUES IN EXCESS OF BILLINGS – LONG TERM

Revenues
in excess of billings, net consisted of the following:

 SCHEDULE OF REVENUE IN EXCESS OF BILLING

    As of  
    As of 

    March
    31, 2025  
    June
    30, 2024 

    Revenues in excess of billings
    - long term 
    $794,771  
    $1,106,475 
  
    Present value discount 
     (97,285) 
     (152,446)
  
    Net
    Balance 
    $697,486  
    $954,029 

Pursuant
to revenue recognition for contract accounting, the Company has recorded revenues in excess of billings long-term for amounts billable
after one year. During the three and nine months ended March 31, 2025, the Company accreted $18,099 and $54,833, respectively, which
was recorded in interest income for that period. During the three and nine months ended March 31, 2024, the Company accreted $12,309
and $30,773, respectively, which was recorded in interest income for that period. The Company used the discounted cash flow method with
interest rates ranging from 7.3% to 17.5%, for the period ended March 31, 2025 and June 30, 2024.

NOTE
9 - PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    As of  
    As of 

    March