Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 86

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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    2  
    Level
    3  
    Total
    Assets 
  
    Revenues in
    excess of billings - long term 
    $-  
    $-  
    $697,486  
    $697,486 
  
    Total 
    $-  
    $-  
    $697,486  
    $697,486 

The
Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2024, are as follows:

    Level
    1  
    Level
    2  
    Level
    3  
    Total
    Assets 
  
    Revenues in
    excess of billings - long term 
    $-  
    $-  
    $954,029  
    $954,029 
  
    Total 
    $-  
    $-  
    $954,029  
    $954,029 

The
reconciliation from June 30, 2024 to March 31, 2025 is as follows:

 SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION

    Revenues
    in excess of billings - long term  
    Fair
    value discount  
    Total 
  
    Balance at June 30, 2024 
    $1,106,475  
    $(152,446) 
    $954,029 
  
    Amortization during the period 
     -  
     54,833  
     54,833 
  
    Transfers to short term 
     (310,446) 
     -  
     (310,446)
  
    Effect of Translation
    Adjustment 
     (1,258) 
     328  
     (930)
  
    Balance at March
    31, 2025 
    $794,771  
    $(97,285) 
    $697,486 

Management
analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from
Equity” and ASC 815, “Derivatives and Hedging.” Derivative liabilities are adjusted to reflect fair value
at each period end, with any increase or decrease in the fair value being recorded in results of operations as adjustments to fair value