Annual report pursuant to Section 13 and 15(d)

Goodwill

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Goodwill
 12 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill

NOTE 10 – GOODWILL

 

Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in prior period business combinations. Goodwill was comprised of the following amounts:

 

    As of June 30,     As of June 30,  
    2016     2015  
NetSol PK   $ 1,166,610     $ 1,166,610  
NTE     3,471,814       3,471,814  
VLS     214,044       214,044  
NTA     4,664,100       4,664,100  
Total   $ 9,516,568     $ 9,516,568  

 

The Company tests for goodwill impairment at each reporting unit. There was no goodwill impairment for the year ended June 30, 2016.