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

Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

Related Party Transactions	9 Months Ended
Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 RELATED PARTY TRANSACTIONS NetSol-Innovation In November 2004, the Company entered into a joint venture agreement with the Innovation Group called NetSol-Innovation (Pvt) Ltd., (NetSol-Innovation), a Pakistani company. NetSol-Innovation provides support services to the Innovation Group. During the three and nine months ended March 31, 2016, NetSol-Innovation provided services of $2,069,940 and $6,096,466, respectively. During the three and nine months ended March 31, 2015, NetSol-Innovation provided services of $1,524,528 and $4,275,004, respectively. Accounts receivable at March 31, 2016 and June 30, 2015 were $6,047,908 and $3,226,733, respectively. Investec Asset Finance In October 2011, NTE entered into an agreement with the Investec Asset Finance to acquire VLS. NTE and VLS both provide support services to Investec. During the three and nine months ended March 31, 2016, NTE and VLS provided license, maintenance and services of $997,474 and $1,984,017, respectively. During the three and nine months ended March 31, 2015, NTE provided maintenance and services of $332,617 and $864,311, respectively. Accounts receivable at March 31, 2016 and June 30, 2015 were $419,643 and $265,166, respectively.

Related Party Transactions

9 Months Ended

Mar. 31, 2016

NOTE 5 RELATED PARTY TRANSACTIONS

NetSol-Innovation

In November 2004, the Company entered into a joint venture agreement with the Innovation Group called NetSol-Innovation (Pvt) Ltd., (NetSol-Innovation), a Pakistani company. NetSol-Innovation provides support services to the Innovation Group. During the three and nine months ended March 31, 2016, NetSol-Innovation provided services of $2,069,940 and $6,096,466, respectively. During the three and nine months ended March 31, 2015, NetSol-Innovation provided services of $1,524,528 and $4,275,004, respectively. Accounts receivable at March 31, 2016 and June 30, 2015 were $6,047,908 and $3,226,733, respectively.

Investec Asset Finance

In October 2011, NTE entered into an agreement with the Investec Asset Finance to acquire VLS. NTE and VLS both provide support services to Investec. During the three and nine months ended March 31, 2016, NTE and VLS provided license, maintenance and services of $997,474 and $1,984,017, respectively. During the three and nine months ended March 31, 2015, NTE provided maintenance and services of $332,617 and $864,311, respectively. Accounts receivable at March 31, 2016 and June 30, 2015 were $419,643 and $265,166, respectively.