Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 12

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
2023 
     12,311,850  
    $123,120  
    $128,536,132  
    $(3,920,856) 
    $(44,865,296) 
    $(46,411,702) 
    $3,201,723  
    $36,663,121 
  
    Balance 
     12,311,850  
    $123,120  
    $128,536,132  
    $(3,920,856) 
    $(44,865,296) 
    $(46,411,702) 
    $3,201,723  
    $36,663,121 

The
accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Page 8

NETSOL
TECHNOLOGIES, INC. AND SUBSIDIARIES

Condensed
Consolidated Statements of Cash Flows

(Unaudited)

    2025  
    2024 

    For the Nine Months 

    Ended
    March 31, 

    2025  
    2024 
  
    Cash flows from operating
    activities: 

    Net income 
    $865,933  
    $1,589,748 
  
    Adjustments to reconcile
    net income to net cash provided by operating activities: 

    Depreciation and amortization 
     1,102,085  
     1,351,239 
  
    Provision for bad debts 
     1,062,515  
     9,739 
  
    Gain on sale of assets 
     (28,320) 
     (1,154)
  
    Stock based compensation 
     134,884  
     260,875 
  
    Changes
    in operating assets and liabilities: 

    Accounts receivable 
     6,408,397  
     (3,922,773)
  
    Revenues in excess of
    billing 
     (1,411,983) 
     (3,904,609)
  
    Other current assets 
     (344,493) 
     (1,525)
  
    Accounts payable and
    accrued expenses 
     (1,136,533) 
     77,541 
  
    Unearned
    revenue 
     (6,646