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GOODWILL
 12 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL

NOTE 13 – GOODWILL

 

Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in prior period business combinations. Goodwill was comprised of the following amounts:

 

SCHEDULE OF GOODWILL ACQUIRED

  As of   As of 
Entity (Segment)  June 30, 2023   June 30, 2022 
NetSol PK (Asia - Pacific)  $1,166,610   $1,166,610 
NTE (Europe)   3,471,814    3,471,814 
NTA (North America)   4,664,100    4,664,100 
Total  $9,302,524   $9,302,524 

 

The Company tests for goodwill impairment at each reporting unit and recorded an impairment of $214,044 at June 30, 2022. The Company performed the goodwill analysis using an income approach.