Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 80

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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 management’s most difficult, subjective, or complex judgments.
Critical accounting policies require numerous estimates and strategic or economic assumptions that may prove inaccurate or subject to
variations and may significantly affect our reported results and financial position for the period or in future periods. Changes in underlying
factors, assumptions, or estimates in any of these areas could have a material impact on our future financial condition and results of
operations. Our financial statements are prepared in accordance with U.S. GAAP, and they conform to general practices in our industry.
We apply critical accounting policies consistently from period to period and intend that any change in methodology occur in an appropriate
manner. There have been no significant changes to our accounting policies and estimates as discussed in our Annual Report on Form 10-K
for the fiscal year ended June 30, 2024.

RECENT
ACCOUNTING PRONOUNCEMENTS

For
information with respect to recent accounting pronouncements and the impact of these pronouncements on our consolidated financial statements,
see Note 2 of Notes to Condensed Consolidated Financial Statements included elsewhere in this Quarterly Report.

Item
3. Quantitative and Qualitative Disclosures about Market Risks.

None.

Item
4. Controls and Procedures 

Evaluation
of Disclosure Controls and Procedures 

Our
management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure
controls and procedures pursuant to Rule 13a-15 under the Exchange Act, as of the end of the period covered by this Quarterly Report
on Form 10-Q. Based upon that evaluation, the Chief Financial Officer and Chief Executive Officer concluded that our disclosure controls
and procedures were effective.

Changes
in Internal Control over Financial Reporting 

There
were no changes in our internal controls over financial reporting during the three months ended March 31, 2025, that have materially
affected, or are reasonable likely to materially affect, the Company’s internal control over financial reporting (as defined in
Exchange Act Rules 13a – 15(f) and 15d – 15(f)).

Page 51

PART
II OTHER INFORMATION

Item
1. Legal Proceedings

NA

Item
1A. Risk Factors

Other
than stated below, as of the date of this Quarterly Report on Form 10-Q, there have been no material changes from the risk factors disclosed
in our Annual Report on Form 10-K for the year ended June 30, 2024, filed with the SEC on September 30, 2024