Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 31

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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    Operating cash flows related to operating leases 
    $185,514  
    $140,514 

    Operating cash flows related to finance leases 
    $5,994  
    $1,638 

    Financing cash flows related finance leases 
    $9,296  
    $16,424 

Maturities of operating lease
liabilities were as follows as of December 31, 2024:

SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES 

    Amount 
  
    Within year 1 
    $559,279 
  
    Within year 2 
     367,204 
  
    Within year 3 
     127,730 
  
    Within year 4 
     53,837 
  
    Within year 5 
     237 
  
    Total Lease Payments 
     1,108,287 
  
    Less: Imputed interest 
     (78,150)
  
    Present Value of lease liabilities 
     1,030,137 
  
    Less: Current portion 
     (518,075)
  
    Non-Current portion 
    $512,062 

The Company
is a lessor for certain office space leased by the Company and sub-leased to others under non-cancelable leases. These lease agreements
provide for a fixed base rent and are currently on a month-by-month basis. All leases are considered operating leases. There are no rights
to purchase the premises and no residual value guarantees. For the three and six months ended December 31, 2024, the Company received lease
income of $8,514 and $16,920, respectively. For the three and six months ended December 31, 2023, the Company received lease income
of $8,199 and $16,605, respectively.

NOTE 11 - ACCOUNTS PAYABLE
AND ACCRUED EXPENSES

Accounts payable and accrued
expenses consisted of the following:

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES 

    As of  
    As of 

    December 31, 2024  
    June 30, 2024 

    Accounts Payable 
    $969,495  
    $1,426,930 
  
    Accrued Liabilities 
     4,333,709  
     4,323,662 
  
    Accrued Payroll