|
Note 11 - Investment Under Equity Method
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures Disclosure [Text Block] |
NOTE
11 – INVESTMENT UNDER EQUITY METHOD
On
April 10, 2009, the Company entered into an agreement to form
a joint venture with the Atheeb Trading Company, a member of
the Atheeb Group (“Atheeb”). The joint venture
entity Atheeb NetSol Saudi Company Ltd. is a company
organized under the laws of the Kingdom of Saudi Arabia. The
venture was formed with an initial capital contribution of
$268,000 by the Company and $266,930 by Atheeb with a profit
sharing ratio of 50.1:49.9, respectively. The final formation
of the company was completed on March 7, 2010.
|