Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 29

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
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
    31, 2025  
    June
    30, 2024 

    Office Furniture and Equipment 
    $2,446,214  
    $2,352,940 
  
    Computer Equipment 
     8,901,316  
     8,679,791 
  
    Assets Under Capital Leases 
     138,549  
     154,718 
  
    Building 
     3,586,906  
     3,602,819 
  
    Land 
     909,226  
     913,473 
  
    Autos 
     1,585,341  
     1,658,961 
  
    Improvements 
     213,868  
     206,387 
  
    Subtotal 
     17,781,420  
     17,569,089 
  
    Accumulated Depreciation 
     (13,012,576) 
     (12,462,247)
  
    Property and Equipment,
    Net 
    $4,768,844  
    $5,106,842 

For
the three and nine months ended March 31, 2025, depreciation expense totaled $363,503 and $1,102,085, respectively. Of these amounts,
$240,444 and $706,876, respectively, are reflected in cost of revenues. For the three and nine months ended March 31, 2024, depreciation
expense totaled $391,290 and $1,225,198, respectively. Of these amounts, $250,126 and $781,442, respectively, are reflected in cost of
revenues.

    Page 21

NETSOL