Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 1664

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 9
Chunk 1664
---
 32.38% 
    $4,679,101 
  
    NetSol
    Innovation 
     32.38% 
     137,232 
  
    NAMECET 
     32.38% 
     (21,014)
  
    NetSol
    Thai 
     0.006% 
     (163)
  
    OTOZ
    Thai 
     5.60% 
     (17,483)
  
    OTOZ 
     5.59% 
     (83,255)
  
    Total 
        
    $4,694,418 

    F-41

NETSOL
TECHNOLOGIES, INC.

Notes
to Consolidated Financial Statements

June
30, 2025 and 2024

During
the year ended June 30, 2025, NetSol PK, a majority owned subsidiary of the Company, repurchased 2,690,251 shares of its outstanding
common stock from the open market for $1,503,662. The repurchase did not result in a change of control and was therefore accounted for
as an equity transaction in accordance with ASC 810-10. Due to this purchase, the non-controlling interest in NetSol PK, NetSol Innovation
and NAMECET, decreased from 32.38% at June 30, 2024 to 30.24% at June 30, 2025. The carrying amount of the non-controlling interest was
reduced by $1,532,797, and the difference of $29,135 was recognized as an increase in additional paid-in capital in the Company’s
consolidated equity.

During
the year ended June 30, 2025, the Company acquired the remaining 177,558 minority shares from the OTOZ® non-controlling
shareholders for $8,878. As a result, the Company’s ownership interest increased, reducing the non-controlling interest from 5.59%
to 0.0%. The effective non-controlling interest in Otoz® Thai decreased to 0.01%. OTOZ® was merged into NTA during
the year ended June 30, 2025.

The
following schedule discloses the effect on the Company’s equity due to the changes in the Company’s ownership interest.

 SCHEDULE OF CHANGE IN OWNERSHIP INTEREST

    2025