Quarterly report pursuant to Section 13 or 15(d)

NON-CONTROLLING INTEREST IN SUBSIDIARY (Tables)

v3.23.3
NON-CONTROLLING INTEREST IN SUBSIDIARY (Tables)
 3 Months Ended
Sep. 30, 2023
Noncontrolling Interest [Abstract]  
SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST

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
September 30, 2023		  
             
NetSol PK     32.38 %   $ 3,594,004  
NetSol-Innovation     32.38 %     (285,611 )
NAMECET     32.38 %     (8,825 )
NetSol Thai     0.006 %     (153 )
OTOZ Thai     5.60 %     (21,877 )
OTOZ     5.59 %     (75,815 )
Total           $ 3,201,723  

 

SUBSIDIARY   Non-Controlling Interest %     Non-Controlling Interest at
June 30, 2023		  
             
NetSol PK     32.38 %   $ 3,314,659  
NetSol-Innovation     32.38 %     (223,504 )
NAMECET     32.38 %     (5,384 )
NetSol Thai     0.006 %     (194 )
OTOZ Thai     5.60 %     (23,572 )
OTOZ     5.59 %     (86,952 )
Total           $ 2,975,053  
SCHEDULE OF CHANGE IN OWNERSHIP INTEREST

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.

 

    2023     2022  
    For the Three Months  
    Ended September 30,  
    2023     2022  
             
Net income (loss) attributable to NetSol   $ 30,890     $ (620,729 )
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   $ 30,890     $ (500,164 )