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MAJOR CUSTOMERS | 3 Months Ended
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Sep. 30, 2022
Risks and Uncertainties [Abstract] |
MAJOR CUSTOMERS | NOTE 6 – MAJOR CUSTOMERS During the three months ended September 30, 2022, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $3,591,807 and $1,469,147, respectively representing 28.3% and 11.6%, respectively of revenues. During the three months ended September 30, 2021, revenues from DFS and BMW were $3,542,284 and $891,679, respectively representing 26.4% and 6.6%, respectively of revenues. The revenue from these customers is shown in the Asia – Pacific segment. Accounts receivable from DFS and BMW at September 30, 2022, were $600,925 and $132,392, respectively. Accounts receivable at June 30, 2022, were $2,005,463 and $2,498,645, respectively. Revenues in excess of billings at September 30, 2022 were $1,804,728 and $2,533,172 for DFS and BMW, respectively. Revenues in excess of billings at June 30, 2022, were $365,863 and $2,199,381 for DFS and BMW, respectively. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements September 30, 2022 (Unaudited)

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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