NOTE 12 - INTANGIBLE ASSETS

Intangible assets consisted of the following:

 SCHEDULE OF INTANGIBLE ASSETS 

NETSOL TECHNOLOGIES, INC.

Notes to Consolidated Financial Statements

June 30, 2022 and 2021

(A) Product Licenses

Product licenses include internally-developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses are amortized on a straight-line basis over their respective lives, and the unamortized amount of $1,587,670 will be amortized over the next 1.25 years. Amortization expense for the years ended June 30, 2022 and 2021 was $1,632,764 and $1,807,736, respectively.

(B) Future Amortization

Estimated amortization expense of intangible assets over the next five years is as follows:

 SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS