Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest in Subsidiary

v3.3.1.900
Non-Controlling Interest in Subsidiary
6 Months Ended
Dec. 31, 2015
Noncontrolling Interest [Abstract]  
Non-Controlling Interest in Subsidiary

NOTE 16 – 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
December 31, 2015
 
             
NetSol PK     34.15 %   $ 10,823,064  
NetSol-Innovation     49.90 %     2,923,743  
VLS, VLSH & VLSIL Combined     49.00 %     270,150  
Total           $ 14,016,957  

 

SUBSIDIARY   Non Controlling
Interest %
    Non-Controlling
Interest at
June 30, 2015
 
             
NetSol PK     34.90 %   $ 11,411,954  
NetSol-Innovation     49.90 %     2,035,548  
VLS, VLHS & VLSIL Combined     49.00 %     393,139  
Total           $ 13,840,641  

 

NETSOL TECHNOLOGIES, LIMITED

 

During the six months ended December 31, 2015, the Company purchased 669,000 shares of common stock of NetSol PK from the open market for $347,623 resulting in a decrease in non-controlling interest from 34.90% to 34.15%.