NETSOL Technologies, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

9 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 9 - PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

	As of			As of
	March 31, 2025			June 30, 2024

Office Furniture and Equipment	$	2,446,214		$	2,352,940
Computer Equipment		8,901,316			8,679,791
Assets Under Capital Leases		138,549			154,718
Building		3,586,906			3,602,819
Land		909,226			913,473
Autos		1,585,341			1,658,961
Improvements		213,868			206,387
Subtotal		17,781,420			17,569,089
Accumulated Depreciation		(13,012,576	)		(12,462,247	)
Property and Equipment, Net	$	4,768,844		$	5,106,842

For the three and nine months ended March 31, 2025, depreciation expense totaled $363,503 and $1,102,085, respectively. Of these amounts, $240,444 and $706,876, respectively, are reflected in cost of revenues. For the three and nine months ended March 31, 2024, depreciation expense totaled $391,290 and $1,225,198, respectively. Of these amounts, $250,126 and $781,442, respectively, are reflected in cost of revenues.

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

March 31, 2025

(Unaudited)

Following is a summary of fixed assets held under finance leases as of March 31, 2025 and June 30, 2024:

	As of			As of
	March 31, 2025			June 30, 2024
Vehicles	$	138,549		$	154,718
Total		138,549			154,718
Less: Accumulated Depreciation - Net		(36,994	)		(25,078	)
	$	101,555		$	129,640

Finance lease term and discount rate were as follows:

SCHEDULE OF FINANCE LEASE TERM

	As of			As of
	March 31, 2025			June 30, 2024
Weighted average remaining lease term - Finance leases		2 Years			2.75 Years

Weighted average discount rate - Finance leases		11.3	%		11.3	%