Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 39

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 loan facility with Bank of China, secured by a personal guarantee from NetSol
Beijing’s General Manager. The facility amount was CNY 3,000,000 or $413,223. NetSol Beijing has paid off this facility during
the period ended March 31, 2025. NetSol Beijing used CNY 3,000,000 or $412,655, at June 30, 2024. The interest rate of the loan was 3.8%
at March 31, 2025 and June 30, 2024.

(10)The Company leases
various fixed assets under finance lease arrangements expiring in various years through 2027. The assets and liabilities under finance
leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured
by the assets themselves. Depreciation of assets under finance leases is included in depreciation expense for the three months ended
March 31, 2025 and 2024.

    Page 26

NETSOL
                                            TECHNOLOGIES, INC.

Notes
to Condensed Consolidated Financial Statements

March
31, 2025

(Unaudited)

Following
are the aggregate minimum future lease payments under finance leases as of March 31, 2025:

 SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES

    Amount 
  
    Minimum Lease Payments 

    Within year
    1 
    $26,081 
  
    Within year 2 
     93,012 
  
    Within
    year 3 
     6,431 
  
    Total Minimum Lease Payments 
     125,524 
  
    Interest Expense relating
    to future periods 
     (25,486)
  
    Present Value of minimum lease payments 
     100,038 
  
    Less:  Current
    portion 
     (13,238)
  
    Non-Current portion 
    $86,800 

Following
are the aggregate future long term debt payments as of March 31, 2025 which consists of “Sale and Leaseback Financing (8)”.

 SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS

    Amount 
  
    Loan Payments 

    Within year
    1 
    $18,980 
  
    Within
    year 2 
     -