Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS??? EQUITY

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STOCKHOLDERS’ EQUITY
 6 Months Ended
Dec. 31, 2024
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 13 - STOCKHOLDERS’ EQUITY

 

During the three and six months ended December 31, 2024, the Company issued 15,174 and 29,124 shares of common stock for services rendered by the independent members of the Board of Directors as part of their board compensation. These shares were valued at the fair market value of $39,750 and $79,500, respectively.

 

During the three and six months ended December 31, 2024, the employees of the Company exercised 190,000 and 200,000 options of common stock with an exercise price of $2.15 per share for cash proceeds of $430,000.

 

Stock Grants

 

The following table summarizes stock grants awarded as compensation:

 

    # Number of shares     Weighted Average Grant Date Fair Value ($)  
Unvested, June 30, 2024     -     $ -  
Granted     29,124     $ 2.73  
Vested     (29,124 )   $ 2.73  
Unvested, December 31, 2024     -     $ -  

 

For the three and six months ended December 31, 2024, the Company recorded compensation expense of $39,750 and $79,500, respectively. For the three and six months ended December 31, 2023, the Company recorded compensation expense of $39,750 and $88,550, respectively. The weighted average grant date fair value is determined by the Company’s closing stock price on the grant date.

 

 

NETSOL TECHNOLOGIES, INC. 

Notes to Condensed Consolidated Financial Statements 

December 31, 2024 

(Unaudited)