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NON-CONTROLLING INTEREST IN SUBSIDIARY
6 Months Ended
Dec. 31, 2024
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTEREST IN SUBSIDIARY

NOTE 16 – 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:

 

SUBSIDIARY  Non-Controlling Interest %   Non-Controlling Interest at
December 31, 2024
 
         
NetSol PK   32.38%  $5,163,259 
NetSol-Innovation   32.38%   (538,843)
NAMECET   32.38%   (31,713)
NetSol Thai   0.006%   (169)
OTOZ Thai   0.01%   20 
OTOZ   0.00%   - 
Total       $4,592,554 

 

SUBSIDIARY  Non-Controlling Interest %   Non-Controlling Interest at
June 30, 2024
 
         
NetSol PK   32.38%  $4,679,101 
NetSol-Innovation   32.38%   137,232 
NAMECET   32.38%   (21,014)
NetSol Thai   0.006%   (163)
OTOZ Thai   5.60%   (17,483)
OTOZ   5.59%   (83,255)
Total       $4,694,418 

 

During the six months ended December 31, 2024, the Company acquired the remaining 177,558 minority shares from the non-controlling shareholders for $8,878. As a result, the Company’s ownership interest increased, reducing the non-controlling interest from 5.59% to 0.0%. The effective non-controlling interest in Otoz® Thai decreased to 0.01%.

 

 

NETSOL TECHNOLOGIES, INC. 

Notes to Condensed Consolidated Financial Statements 

December 31, 2024 

(Unaudited)

 

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.

 

   2024   2023   2024   2023 
   For the Three Months
Ended December 31,
   For the Six Months
Ended December 31,
 
   2024   2023   2024   2023 
                 
Net income (loss) attributable to NetSol   $(1,147,042)  $408,316   $(1,076,247)  $439,206 
Transfer to (from) non-controlling interest                     
Decrease in paid-in capital for purchase of 177,558 shares of OTOZ Inc common stock   (31,004)        (166,123)   - 
Net transfer to (from) non-controlling interest   (31,004)   -    (166,123)   - 
Change from net income (loss) attributable to NetSol and transfer to (from) non-controlling interest  $(1,178,046)  $408,316   $(1,242,370)  $439,206