Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 2023

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 10
Chunk 2023
---
 in excess of billings
    - long term 
    $1,111,803  
    $1,106,475 
  
    Present value discount 
     (208,037) 
     (152,446)
  
    Net
    Balance 
    $903,766  
    $954,029 

Pursuant
to revenue recognition for contract accounting, the Company had recorded revenues in excess of billings long-term for amounts billable
after one year. During the years ended June 30, 2025 and 2024, the Company accreted $73,066 and $42,814, respectively, which was recorded
in interest income for that period. The Company used the discounted cash flow method with interest rates ranging from 4.2% to 17.5%,
for the year ended June 30, 2025 and 2024.

NOTE
8 - PROPERTY AND EQUIPMENT

Property
and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    As of  
    As of 

    June
    30, 2025  
    June
    30, 2024 

    Office Furniture and Equipment 
    $2,437,002  
    $2,352,940 
  
    Computer Equipment 
     9,513,181  
     8,679,791 
  
    Assets Under Capital Leases 
     145,197  
     154,718 
  
    Building 
     3,532,475  
     3,602,819 
  
    Land 
     894,698  
     913,473 
  
    Autos 
     1,603,271  
     1,658,961 
  
    Improvements 
     217,230  
     206,387 
  
    Subtotal 
     18,343,054  
     17,569,089 
  
    Accumulated Depreciation 
     (13,269,682) 
     (12,462,247)
  
    Property and Equipment,
    Net 
    $5,073,372  
    $5,106,842 

For
the years ended June 30, 2025 and 2024, depreciation expense totaled $1,463,783 and $1,595,959, respectively. Of these amounts, $952,331