Quarterly report pursuant to Section 13 or 15(d)

Non-controlling Interest in Subsidiary

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Non-controlling Interest in Subsidiary
 9 Months Ended
Mar. 31, 2018
Noncontrolling Interest [Abstract]  
Non-controlling Interest in Subsidiary

NOTE 20 – 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, 2018 		 
             
NetSol PK     33.79 %   $ 13,181,663  
NetSol-Innovation     49.90 %     1,850,342  
VLS, VLSH & VLSIL Combined     49.00 %     534,232  
NetSol Thai     0.006 %     (76 )
Total           $ 15,566,161  

 

SUBSIDIARY   Non-Controlling Interest %     Non-Controlling Interest at
June 30, 2017 		 
             
NetSol PK     33.80 %   $ 12,887,938  
NetSol-Innovation     49.90 %     1,599,734  
VLS, VLHS & VLSIL Combined     49.00 %     311,502  
NetSol Thai     0.006 %     (92 )
Total           $ 14,799,082  

 

NetSol PK

 

During the nine months ended March 31, 2018, employees of NetSol PK exercised 67,000 options of common stock and NetSol PK received cash of $10,349. The Company purchased 55,500 shares of common stock of NetSol PK from the open market for $33,987. Due to the exercise of options and the shares purchase, the non-controlling interest decreased from 33.80% to 33.79%.

 

During the nine months ended March 31, 2018, NetSol PK paid a cash dividend of $1,234,991.