NETSOL Technologies, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest in Subsidiary

Non-Controlling Interest in Subsidiary

9 Months Ended

Mar. 31, 2015

NOTE 17 – NON-CONTROLLING INTEREST IN SUBSIDIARY

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 March 31, 2015

NetSol PK		34.90	%	$	11,437,290
NetSol-Innovation		49.90	%		1,597,372
VLS, VLHS & VLSIL Combined		49.00	%		441,588
Total				$	13,476,250

SUBSIDIARY	Non Controlling Interest %			Non-Controlling Interest at June 30, 2014

NetSol PK	36.62	%	$	14,317,233
NetSol-Innovation	49.90	%		1,546,920
VLS, VLHS & VLSIL Combined	49.00	%		260,359
Total			$	16,124,512

NetSol PK

During the nine months ended March 31, 2015, employees of the NetSol PK exercised 76,500 options of common stock pursuant to employees exercising stock options and NetSol PK received cash $12,306. The Company purchased 1,580,000 shares of common stock of NetSol PK from the open market for $577,222, resulting in an overall decrease in non-controlling interest from 36.62% to 34.90%.

NetSol-Innovation

During the nine months ended March 31, 2015, NetSol-Innovation paid a cash dividend of $1,576,609.

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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