Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 47

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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2,690,251 shares of its outstanding
common stock from the open market for $1,503,662. The repurchase did not result in a change of control and was therefore accounted for
as an equity transaction in accordance with ASC 810-10. Due to this purchase, the non-controlling interest in NetSol PK, NetSol Innovation
and NAMECET, decreased from 32.38% at June 30, 2024 to 30.24% at March 31, 2025. The carrying amount of the non-controlling interest
was reduced by $1,532,797, and the difference of $29,135 was recognized as an increase in additional paid-in capital in the Company’s
consolidated equity.

    Page 31

NETSOL
                                            TECHNOLOGIES, INC.

Notes
to Condensed Consolidated Financial Statements

March
31, 2025

(Unaudited)

During
the nine months ended March 31, 2025, the Company acquired the remaining 177,558 minority shares from the OTOZ non-controlling shareholders
for $8,878. As a result, the Company’s ownership interest increased, reducing the non-controlling interest from 5.59% to 0.0%.
The effective non-controlling interest in Otoz® Thai decreased to 0.01%.

The
following schedule discloses the effect on the Company’s equity due to the changes in the Company’s ownership interest in
Otoz® and Otoz® Thai.

 SCHEDULE OF CHANGE IN OWNERSHIP INTEREST

    2025  
    2024  
    2025  
    2024 

    For the Three Months  
    For the Nine Months 

    Ended
    March 31,  
    Ended
    March 31, 

    2025  
    2024  
    2025  
    2024 

    Net
    income (loss) attributable to NetSol Transfer to (from) non-controlling interest 
    $1,423,968  
    $327,549  
    $347,721  
    $766,755 
  
    Decrease in paid-in capital
    for purchase of 177,558 shares of OTOZ Inc common stock 
     -  
     -  
     (103,132) 
     -