Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 570

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 570
---
 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 (“NTE”)

NetSol
Technologies (Beijing) Co. Ltd. (“NetSol Beijing”)

Tianjin
NuoJinZhiCheng Co., Ltd (“Tianjin”)

Ascent
Europe Ltd. (“AEL”)

Virtual
Lease Services Holdings Limited (“VLSH”)
Virtual Lease Services Limited (“VLS”)
Virtual Lease Services (Ireland) Limited (“VLSIL”)

Majority-owned
Subsidiaries
NetSol Technologies, Ltd. (“NetSol PK”)
NetSol Innovation (Private) Limited (“NetSol Innovation”)
NetSol Institute of Artificial Intelligence (Private) Limited (“NIAI”)

NETSOL
Ascent Middle East Computer Equipment Trading LLC (“Namecet”)

NetSol
Technologies Thailand Limited (“NetSol Thai”)

OTOZ,
Inc. (“OTOZ®”)

OTOZ
(Thailand) Limited (“OTOZ®  Thai