Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest in Subsidiary

v3.6.0.2
Non-Controlling Interest in Subsidiary
 6 Months Ended
Dec. 31, 2016
Noncontrolling Interest [Abstract]  
Non-Controlling Interest in Subsidiary

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
December 31, 2016 		 
             
NetSol PK     33.53 %   $ 11,330,750  
NetSol-Innovation     49.90 %     2,343,344  
VLS, VLSH & VLSIL Combined     49.00 %     293,411  
NetSol Thai     0.006 %     (37 )
Total           $ 13,967,468  

 

SUBSIDIARY   Non-Controlling Interest %     Non-Controlling Interest at
June 30, 2016 		 
                 
NetSol PK     33.40 %   $ 10,292,495  
NetSol-Innovation     49.90 %     2,735,998  
VLS, VLHS & VLSIL Combined     49.00 %     309,213  
NetSol Thai     0.006 %     (4 )
Total           $ 13,337,702  

 

NETSOL TECHNOLOGIES, LIMITED

 

During the six months ended December 31, 2016, employees of NetSol PK exercised 116,000 options of common stock pursuant to employees exercising stock options and NetSol PK received cash of $18,089, resulting in an increase in non-controlling interest from 33.40% to 33.53%.

 

During the six months ended December 31, 2016, NetSol PK paid a cash dividend of $425,988.

 

NETSOL INNOVATION

 

During the six months ended December 31, 2016, NetSol-Innovation paid a cash dividend of $1,669,199.