Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest in Subsidiary

v3.10.0.1
Non-Controlling Interest in Subsidiary
3 Months Ended
Sep. 30, 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

September 30, 2018

 
             
NetSol PK     33.80 %   $ 9,044,439  
NetSol-Innovation     49.90 %     1,604,345  
VLS, VLSH & VLSIL Combined     49.00 %     666,733  
NetSol Thai     0.006 %     (8 )
Total           $ 11,315,509  
                 
SUBSIDIARY     Non-Controlling Interest %      

Non-Controlling

Interest at

June 30, 2018

 
                 
NetSol PK     33.79 %   $ 11,873,029  
NetSol-Innovation     49.90 %     1,699,661  
VLS, VLHS & VLSIL Combined     49.00 %     573,742  
NetSol Thai     0.006 %     (15 )
Total           $ 14,146,417  

 

NetSol PK

 

During the three months ended September 30, 2018, employees of NetSol PK exercised 20,000 options of common stock and NetSol PK received cash of $2,650. Due to the exercise of options, the non-controlling interest increased from 33.79% to 33.80%.