Non-controlling Interest in Subsidiary
|12 Months Ended|
Jun. 30, 2017
|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 as of June 30, 2017 and 2016 was as follows:
During the year ended June 30, 2017, employees of NetSol PK exercised 481,500 of options of common stock pursuant to employees exercising stock options and NetSol PK received cash of $75,382 resulting in an increase in non-controlling interest from 33.40% to 33.80%.
During the year ended June 30, 2017, NetSol PK paid a cash dividend of $425,988.
During the year ended June 30, 2017 and 2016, NetSol-Innovation paid a cash dividend of $4,061,943 and $2,028,805, respectively.
The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.
Reference 1: http://www.xbrl.org/2003/role/presentationRef