NETSOL Technologies, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

3 Months Ended

Sep. 30, 2021

Supplemental balance sheet information related to leases was as follows:

The components of lease cost were as follows:

SCHEDULE OF COMPONENTS OF LEASE COST

	2021			2020
	For the Three Months
	Ended September 30,
	2021			2020

Amortization of finance lease assets	$	21,033		$	45,253
Interest on finance lease obligation		4,936			11,692
Operating lease cost		282,951			320,086
Short term lease cost		-			16,578
Sub lease income		(9,155	)		(8,624	)
Total lease cost	$	299,765		$	384,985

Lease term and discount rate were as follows:

	As of			As of
	September 30, 2021			June 30, 2021

Weighted average remaining lease term - Operating leases		1.6 Years			1.78 Years

Weighted average discount rate - Operating leases		5.7	%		5.7	%

Supplemental disclosures of cash flow information related to leases were as follows:

	2021		2020
	For the Three Months
	Ended September 30
	2021		2020

Cash flows related to lease liabilities
Operating cash flows related to operating leases	$	288,623	$	269,783

Operating cash flows from finance leases	$	3,502	$	8,141

Financing cash flows from finance leases	$	48,908	$	93,105

Maturities of operating lease liabilities were as follows as of September 30, 2021:

	Amount
Within year 1	$	875,294
Within year 2		359,175
Within year 3		90,226
Within year 4		772
Within year 5		772
Thereafter		2,123
Total Lease Payments		1,328,362
Less: Imputed interest		(61,060	)
Present Value of lease liabilities		1,267,302
Less: Current portion		(828,879	)
Non-Current portion	$	438,423