XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.22.0.1

OPERATING SEGMENTS | 6 Months Ended
--- | ---
Dec. 31, 2021
Segment Reporting [Abstract] |
OPERATING SEGMENTS | NOTE 19 – OPERATING SEGMENTS The Company has identified three segments for its products and services; North America, Europe and Asia-Pacific. Our reportable segments are business units located in different global regions. Each business unit provides similar products and services; license fees for leasing and asset-based software, related maintenance fees, and implementation and IT consulting services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation. The following table presents a summary of identifiable assets as of December 31, 2021 and June 30, 2021: SUMMARY OF IDENTIFIABLE ASSETS
|  | As of |  |  | As of |
|  | December 31, 2021 |  |  | June 30, 2021 |
Identifiable assets: |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 2,147,024 |  |  | $ | 2,067,474 |
North America |  |  | 5,978,111 |  |  |  | 6,073,616 |
Europe |  |  | 9,763,859 |  |  |  | 10,363,611 |
Asia - Pacific |  |  | 63,609,797 |  |  |  | 68,101,560 |
Consolidated |  | $ | 81,498,791 |  |  | $ | 86,606,261 |
The following table presents a summary of investment under equity method as of December 31, 2021 and June 30, 2021: SUMMARY OF INVESTMENT UNDER EQUITY METHOD
|  | As of |  |  | As of |
|  | December 31, 2021 |  |  | June 30, 2021 |
Investment in associates under equity method: |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 346,491 |  |  | $ | 396,403 |
Asia - Pacific |  |  | 2,575,176 |  |  |  | 2,759,449 |
Consolidated |  | $ | 2,921,667 |  |  | $ | 3,155,852 |
NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements December 31, 2021 (Unaudited) The following table presents a summary of operating information for the three and six months ended December 31: SUMMARY OF OPERATING INFORMATION
|  | For the Three Months |  |  | For the Six Months |
|  | Ended December 31, |  |  | Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenues from unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,060,379 |  |  | $ | 1,016,556 |  |  | $ | 1,990,613 |  |  | $ | 1,829,434 |
Europe |  |  | 2,122,094 |  |  |  | 2,726,206 |  |  |  | 5,394,993 |  |  |  | 5,878,097 |
Asia - Pacific |  |  | 12,290,489 |  |  |  | 9,378,698 |  |  |  | 21,508,117 |  |  |  | 18,061,307 |
|  |  | 15,472,962 |  |  |  | 13,121,460 |  |  |  | 28,893,723 |  |  |  | 25,768,838 |
Revenue from affiliated customers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia - Pacific |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consolidated |  | $ | 15,472,962 |  |  | $ | 13,121,460 |  |  | $ | 28,893,723 |  |  | $ | 25,768,838 |
Intercompany revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 116,479 |  |  | $ | 126,757 |  |  | $ | 243,677 |  |  | $ | 265,913 |
Asia - Pacific |  |  | 774,364 |  |  |  | 3,125,729 |  |  |  | 3,334,464 |  |  |  | 5,284,357 |
Eliminated |  | $ | 890,843 |  |  | $ | 3,252,486 |  |  | $ | 3,578,141 |  |  | $ | 5,550,270 |
Net income (loss) after taxes and before non-controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 138,089 |  |  | $ | 1,173,146 |  |  | $ | 266,633 |  |  | $ | 2,340,941 |
North America |  |  | (58,915 | ) |  |  | (47,019 | ) |  |  | (127,008 | ) |  |  | (328,816 | )
Europe |  |  | (589,882 | ) |  |  | 173,085 |  |  |  | (398,439 | ) |  |  | 776,101 |
Asia - Pacific |  |  | 2,949,256 |  |  |  | (1,378,400 | ) |  |  | 3,247,857 |  |  |  | (1,743,937 | )
Consolidated |  | $ | 2,438,548 |  |  | $ | (79,188 | ) |  | $ | 2,989,043 |  |  | $ | 1,044,289 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 527 |  |  | $ | 998 |  |  | $ | 1,093 |  |  | $ | 2,952 |
Europe |  |  | 100,646 |  |  |  | 108,929 |  |  |  | 199,494 |  |  |  | 216,937 |
Asia - Pacific |  |  | 840,559 |  |  |  | 825,394 |  |  |  | 1,721,151 |  |  |  | 1,644,471 |
Consolidated |  | $ | 941,732 |  |  | $ | 935,321 |  |  | $ | 1,921,738 |  |  | $ | 1,864,360 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 9,565 |  |  | $ | 4,897 |  |  | $ | 20,006 |  |  | $ | 10,931 |
North America |  |  | - |  |  |  | 726 |  |  |  | - |  |  |  | 1,935 |
Europe |  |  | 2,488 |  |  |  | 1,961 |  |  |  | 6,284 |  |  |  | 4,027 |
Asia - Pacific |  |  | 78,755 |  |  |  | 86,657 |  |  |  | 165,531 |  |  |  | 180,675 |
Consolidated |  | $ | 90,808 |  |  | $ | 94,241 |  |  | $ | 191,821 |  |  | $ | 197,568 |
Income tax expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | - |  |  | $ | - |  |  | $ | 800 |  |  | $ | - |
North America |  |  | - |  |  |  | - |  |  |  | 1,600 |  |  |  | - |
Europe |  |  | 9,524 |  |  |  | 92,359 |  |  |  | 9,524 |  |  |  | 204,037 |
Asia - Pacific |  |  | 191,982 |  |  |  | 153,075 |  |  |  | 357,209 |  |  |  | 305,691 |
Consolidated |  | $ | 201,506 |  |  | $ | 245,434 |  |  | $ | 369,133 |  |  | $ | 509,728 |
NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements December 31, 2021 (Unaudited) The following table presents a summary of capital expenditures for the six months ended December 31: SUMMARY OF CAPITAL EXPENDITURES
|  | For the Six Months |
|  | Ended December 31, |
|  | 2021 |  |  | 2020 |
Capital expenditures: |  |  |  |  |  |  |  |
North America |  | $ | - |  |  | $ | 1,521 |
Europe |  |  | 89,451 |  |  |  | 301,233 |
Asia - Pacific |  |  | 684,502 |  |  |  | 947,141 |
Consolidated |  | $ | 773,953 |  |  | $ | 1,249,895 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration