Company: NTWK
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006348
Chunk: 68

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 basis an increase of $1,367,174. The increase is mainly due to increases is
salaries and consultants of approximately $1,021,000, due to annual raises and the hiring of additional marketing personnel. Other marketing
expenses increased by approximately $443,000 due to the increase in marketing events.

Page 45

General
and administrative expenses were $9,083,347 for the six months ended December 31, 2024 compared to $7,747,088 for the six months ended
December 31, 2023 or an increase of $1,336,259 and on a constant currency basis an increase of $1,114,972. During the six months ended
December 31, 2024, salaries increased by approximately $562,832 and increased $472,349 on a constant currency basis, bad debt expense
increased $445,981 and $430,243 on a constant currency basis, and other general and administrative expenses increased approximately $327,446
or increased by $212,380 on a constant currency basis.

Research
and development cost was $693,618 for the six months ended December 31, 2024 compared to $719,830, for the six months ended December
31, 2023 for a decrease of $26,212 and on a constant currency basis a decrease of $46,805.

Income/Loss
from Operations

Loss from
operations was $1,247,108 for the six months ended December 31, 2024 compared to income from operations of $1,377,461 for the six months
ended December 31, 2023. This represents an increase in loss of $2,624,569 with an increase in loss of $2,187,290 on a constant currency
basis for the six months ended December 31, 2024 compared with the six months ended December 31, 2023. As a percentage of sales, loss
from operations was 4.1% for the six months ended December 31, 2024 compared to income from operations of 4.7% for the six months ended
December 31, 2023.

Other
Income and Expense

Other income
was $840,042 for the six months ended December 31, 2024 compared to $168,365 for the six months ended December 31, 2023. This represents
an increase of $671,677 with an increase of $638,009