Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 51

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 8
Chunk 51
---
 period 
     19,127,165  
     15,533,254 
  
    Cash
    and cash equivalents at end of period 
    $17,357,944  
    $19,127,165 

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

F-8

NETSOL
TECHNOLOGIES, INC. AND SUBSIDIARIES 

Consolidated
Statements of Cash Flows (Continued)

    For
    the Years 

    Ended
    June 30, 

    2025  
    2024 
  
    SUPPLEMENTAL
    DISCLOSURES: 

    Cash
    paid during the period for: 

    Interest 
    $841,962  
    $1,576,454 
  
    Taxes 
    $1,412,245  
    $704,868 

    NON-CASH
    INVESTING AND FINANCING ACTIVITIES: 

    Assets
    acquired under finance lease 
    $-  
    $122,045 
  
    Shares
    issued for accrued bonus 
    $151,201  
    $- 

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

F-9

NETSOL
TECHNOLOGIES, INC.

Notes
to Consolidated Financial Statements

June
30, 2025 and 2024

NOTE
1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

NetSol
Technologies, Inc., was incorporated under the laws of the State of Nevada on March 18, 1997. (NetSol Technologies, Inc. and subsidiaries
collectively referred to as the “Company”)

The
Company designs, develops, markets, and exports proprietary software products to customers in the automobile financing and leasing, banking,
and financial services industries worldwide. The Company also provides system integration, consulting, and IT products and services in
exchange for fees from customers.

NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles
of Consolidation

The
accompanying consolidated financial statements include the accounts of the Company as follows:

Wholly
owned Subsidiaries
NetSol Technologies Americas, Inc. (“NTA”)

NetSol
Connect (Private), Ltd. (“Connect”)
NetSol Technologies Australia Pty Ltd. (“Australia”)
NetSol Technologies Europe Limited (“N