Company: NTWK
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021835
Chunk: 21

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
---
 share
because of the loss during the quarter ended September 30, 2025; therefore, their effect would have been anti-dilutive.

    Page 16

NETSOL
TECHNOLOGIES, INC.

Notes
to Condensed Consolidated Financial Statements

September
30, 2025

(Unaudited)

NOTE
5 – OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY

The
following table represents the functional currencies of the Company and its subsidiaries:

 SCHEDULE OF FOREIGN CURRENCY TRANSLATION

    The
    Company and Subsidiaries
     
    Functional
    Currency

    NetSol
    Technologies, Inc.
     
    USD
  
    NTA
     
    USD
  
    NTE
     
    British
    Pound
  
    AEL
     
    British
    Pound
  
    VLSH
     
    British
    Pound
  
    VLS
     
    British
    Pound
  
    VLSIL
     
    Euro
  
    NetSol
    PK
     
    Pakistan
    Rupee
  
    Connect
     
    Pakistan
    Rupee
  
    NetSol
    Innovation
     
    Pakistan
    Rupee
  
    NIAI
     
    Pakistan
    Rupee
  
    NetSol
    Thai
     
    Thai
    Bhat
  
    Otoz
    Thai
     
    Thai
    Bhat
  
    Australia
     
    Australian
    Dollar
  
    Namecet
     
    AED
  
    NetSol
    Beijing
     
    Chinese
    Yuan
  
    Tianjin
     
    Chinese
    Yuan

Assets
and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange
rate throughout the period. Accumulated translation losses classified as an item of accumulated other comprehensive loss in the stockholders’
equity section of the consolidated balance sheet were $46,402,374 and $46,613,208 as of September 30, 2025 and June 30, 2025, respectively.
During the three months ended September 30, 2025 and 2024, comprehensive income (loss) in the consolidated statements of comprehensive
income (loss) included a translation gain attributable to NetSol of $210,834 and a translation loss of $113,407, respectively.

NOTE
6 – MAJOR CUSTOMERS