Quarterly report pursuant to Section 13 or 15(d)

Other Long Term Assets (Tables)

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Other Long Term Assets (Tables)
9 Months Ended
Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Long Term Assets

        As of     As of  
        March 31, 2018     June 30, 2017  
                 
Investment   (1)   $ 3,174,314     $ 3,057,020  
Long Term Security Deposits         105,154       154,275  
Total       $ 3,279,468     $ 3,211,295  

 

  (1) Investment in WRLD3D – Related party

 

On March 2, 2016, the Company purchased a 4.9% interest in WRLD3D, a non-public company, for $1,111,111. The Company paid $555,556 at the initial closing and $555,555 on September 1, 2016. NetSol PK, a subsidiary of the Company, purchased a 12.2% investment in WRLD3D, for $2,777,778 which will be earned over future periods by providing IT and enterprise software solutions. Per the agreement, NetSol PK is to provide a minimum of $200,000 of services in each three-month period and the entire balance is required to be provided within three years of the date of the agreement. If NetSol PK fails to provide the future services, it may be required to forfeit the unearned shares back to WRLD3D. As of March 31, 2018, the investment earned by NetSol PK is $2,597,778.