NON-CONTROLLING INTEREST IN SUBSIDIARIES |
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| Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NON-CONTROLLING INTEREST IN SUBSIDIARIES |
NOTE 19 – NON-CONTROLLING INTEREST IN SUBSIDIARIES
The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows:
NETSOL TECHNOLOGIES, INC. Notes to Consolidated Financial Statements June 30, 2025 and 2024
During the year ended June 30, 2025, NetSol PK, a majority owned subsidiary of the Company, repurchased shares of its outstanding common stock from the open market for $1,503,662. The repurchase did not result in a change of control and was therefore accounted for as an equity transaction in accordance with ASC 810-10. Due to this purchase, the non-controlling interest in NetSol PK, NetSol Innovation and NAMECET, decreased from 32.38% at June 30, 2024 to 30.24% at June 30, 2025. The carrying amount of the non-controlling interest was reduced by $1,532,797, and the difference of $29,135 was recognized as an increase in additional paid-in capital in the Company’s consolidated equity.
During the year ended June 30, 2025, the Company acquired the remaining minority shares from the OTOZ® 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%. OTOZ® was merged into NTA during the year ended June 30, 2025.
The following schedule discloses the effect on the Company’s equity due to the changes in the Company’s ownership interest.
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