| PROPERTY AND EQUIPMENT |
NOTE
8 - PROPERTY AND EQUIPMENT
Property
and equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
|
As of |
|
|
As of |
|
| |
|
June
30, 2025 |
|
|
June
30, 2024 |
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
2,437,002 |
|
|
$ |
2,352,940 |
|
| Computer Equipment |
|
|
9,513,181 |
|
|
|
8,679,791 |
|
| Assets Under Capital Leases |
|
|
145,197 |
|
|
|
154,718 |
|
| Building |
|
|
3,532,475 |
|
|
|
3,602,819 |
|
| Land |
|
|
894,698 |
|
|
|
913,473 |
|
| Autos |
|
|
1,603,271 |
|
|
|
1,658,961 |
|
| Improvements |
|
|
217,230 |
|
|
|
206,387 |
|
| Subtotal |
|
|
18,343,054 |
|
|
|
17,569,089 |
|
| Accumulated Depreciation |
|
|
(13,269,682 |
) |
|
|
(12,462,247 |
) |
| Property and Equipment,
Net |
|
$ |
5,073,372 |
|
|
$ |
5,106,842 |
|
For
the years ended June 30, 2025 and 2024, depreciation expense totaled $1,463,783 and $1,595,959, respectively. Of these amounts, $952,331
and $1,018,768, respectively, are reflected in cost of revenues.
Following
is a summary of fixed assets held under capital leases as of June 30, 2025 and 2024:
SCHEDULE OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of |
|
|
As of |
|
| |
|
June 30, 2025 |
|
|
June 30, 2024 |
|
| Vehicles |
|
$ |
145,197 |
|
|
$ |
154,718 |
|
| Total |
|
|
145,197 |
|
|
|
154,718 |
|
| Less: Accumulated Depreciation
- Net |
|
|
(47,807 |
) |
|
|
(25,078 |
) |
| Fixed assets held under
capital leases, Total |
|
$ |
97,390 |
|
|
$ |
129,640 |
|
NETSOL
TECHNOLOGIES, INC.
Notes
to Consolidated Financial Statements
June
30, 2025 and 2024
Finance
lease term and discount rate were as follows:
SCHEDULE OF FINANCE LEASE TERM
| |
|
As of |
|
|
As of |
|
| |
|
June
30, 2025 |
|
|
June
30, 2024 |
|
| Weighted
average remaining lease term - Finance leases |
|
|
1.75
Years |
|
|
|
2.75
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount
rate - Finance leases |
|
|
11.3 |
% |
|
|
11.3 |
% |
|