Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 180

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 180
---
31 2025 and June 30, 2024 the current portions of loans and lease obligations
were $8,459,991 and $6,276,125, respectively.

The
average days sales outstanding for the nine months ended March 31, 2025 and 2024 were 137 and 147 days, respectively. The days sales
outstanding have been calculated by taking into consideration the average combined balances of accounts receivable and revenues in excess
of billings.

Net
cash used in investing activities was $843,044 for the nine months ended March 31, 2025, compared to $822,451 for the nine months ended
March 31, 2024. We had purchases of property and equipment of $897,743 compared to $948,337 for the nine months ended March 31, 2024.

Net
cash provided by financing activities was $866,299 for the nine months ended March 31, 2025, compared to $33,612 for the nine months
ended March 31, 2024. During the nine months ended March 31, 2025, we received bank proceeds of $2,451,256 compared to $340,847 during
the nine months ended March 31, 2024. During the nine months ended March 31, 2025, we had net payments for bank loans and finance leases
of $247,496 compared to $307,235 for the nine months ended March 31, 2024. Employees of the Company exercised 220,00 options of common
stock for $473,000. NetSol PK, a subsidiary of the Company, paid a dividend of $306,799 to the non-controlling shareholders. NetSol PK
purchased 2,690,251 shares of its common stock from the open market for $1,503,662. We are operating in various geographical regions
of the world through our various subsidiaries. Those subsidiaries have financial arrangements from various financial institutions to
meet both their short and long-term funding requirements. These loans will become due at different maturity dates as described in Note
12 of the financial statements. We are in compliance with the covenants of the financial arrangements and there is no default, which
may lead to early payment of these obligations. We anticipate paying back all these obligations on their respective due dates from its
own sources.

We
typically fund the cash requirements for our operations in the U.S. through our license, services