XML 37 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2

NON-CONTROLLING INTEREST IN SUBSIDIARY

3 Months Ended

Sep. 30, 2022

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTEREST IN SUBSIDIARY

NOTE 19 – NON-CONTROLLING INTEREST IN SUBSIDIARY

The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows:

 SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST

SUBSIDIARY		Non-Controlling Interest %				Non-Controlling Interest at September 30, 2022
NetSol PK			32.38	%		$	4,474,385
NetSol-Innovation			32.38	%			(10,332	)
NetSol Thai			0.006	%			(184	)
OTOZ Thai			10.95	%			(19,803	)
OTOZ			10.94	%			(164,953	)
Total						$	4,279,113

SUBSIDIARY		Non-Controlling Interest %				Non-Controlling Interest at June 30, 2022
NetSol PK			32.38	%		$	5,479,905
NetSol-Innovation			32.38	%			49,146
NetSol Thai			0.006	%			(196	)
OTOZ Thai			5.60	%			(30,768	)
OTOZ			5.59	%			(47,698	)
Total						$	5,450,389

The Company’s subsidiary, OTOZ, issued 191,011 shares to one of its employees as part of their employment agreement resulting in an increase of non-controlling interest from 5.59% to 10.94%. The effective shareholding of the non-controlling interest for OTOZ Thai increased to 10.95%.

The following schedule discloses the effect to 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

			1				2
		For the Three Months
		Ended September 30,
		2022				2021
Net income (loss) attributable to NetSol		$	(620,729	)		$	187,969
Transfer (to) from non-controlling interest
Increase in paid-in capital for issuance of 191,011 shares of OTOZ Inc. common stock			120,565				-
Net transfer (to) from non-controlling interest			120,565				-
Change from net income (loss) attributable to NetSol and transfer (to) from non-controlling interest		$	(500,164	)		$	187,969

X

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI https://asc.fasb.org/topic&trid=2197479

+ Details

Name:	us-gaap_MinorityInterestDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_NoncontrollingInterestAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration