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

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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787 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     4,405,610  
     5,722,791 
  
    Revenues in excess of billing 
     2,688,774  
     (4,239,762)
  
    Other current assets 
     (170,856) 
     329,171 
  
    Accounts payable and accrued expenses 
     (878,148) 
     72,501 
  
    Unearned revenue 
     (5,990,971) 
     (3,654,724)
  
    Net cash provided by operating activities 
     369,716  
     604,684 

    Cash flows from investing activities: 

    Purchases of property and equipment 
     (568,134) 
     (570,584)
  
    Sales of property and equipment 
     45,535  
     1,248 
  
    Purchase of subsidiary shares 
     (8,878) 
     - 
  
    Net cash used in investing activities 
     (531,477) 
     (569,336)

    Cash flows from financing activities: 

    Proceeds from the exercise of stock options and warrants 
     430,000  
     - 
  
    Dividend paid by subsidiary to non-controlling interest 
     (306,799) 
     - 
  
    Proceeds from bank loans 
     2,676,932  
     135,123 
  
    Payments on finance lease obligations and loans - net 
     (162,370) 
     (162,482)
  
    Net cash provided by (used in) financing activities 
     2,637,763  
     (27,359)
  
    Effect of exchange rate changes 
     (332,525) 
     118,273 
  
    Net increase (decrease) in cash and cash equivalents 
     2,143,477  
     126,262 
  
    Cash and cash equivalents at beginning of the period 
     19,127,165  
     15,533,254 
  
    Cash and cash equivalents at end of period 
    $21,270,642  
    $15,659,516 

The accompanying
notes are an integral part of these unaudited condensed consolidated financial statements.

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