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INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 12 - INTANGIBLE ASSETS

Intangible assets consisted of the following:

 SCHEDULE OF INTANGIBLE ASSETS

		As of				As of
		March 31, 2023				June 30, 2022
Product Licenses - Cost		$	47,244,997			$	47,244,997
Effect of Translation Adjustment			(24,664,606	)			(19,914,206	)
Accumulated Amortization			(22,198,513	)			(25,743,121	)
Net Balance		$	381,878			$	1,587,670

Product Licenses

Product licenses include internally developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses are amortized on a straight-line basis over their respective lives, and the unamortized amount of $381,878 will be amortized over one year. Amortization expense for the three and nine months ended March 31, 2023, was $275,652 and $921,144, respectively. Amortization expense for the three and nine months ended March 31, 2022 was $407,111 and $1,261,664, respectively.

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

March 31, 2023

(Unaudited)

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350-30/tableOfContent

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