Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Net Revenues:    
Total net revenues $ 12,647,378 $ 13,572,416
Cost of revenues:    
Salaries and consultants 4,526,649 4,454,964
Travel 103,752 1,342,635
Depreciation and amortization 707,249 719,665
Other 928,153 944,524
Total cost of revenues 6,265,803 7,461,788
Gross profit 6,381,575 6,110,628
Operating expenses:    
Selling and marketing 1,609,604 1,743,868
Depreciation and amortization 221,790 202,387
General and administrative 3,427,636 3,918,613
Research and development cost 85,989 672,970
Total operating expenses 5,345,019 6,537,838
Income (loss) from operations 1,036,556 (427,210)
Other income and (expenses)    
Loss on sale of assets (21,742) (289)
Interest expense (103,327) (63,663)
Interest income 200,821 399,229
Gain (loss) on foreign currency exchange transactions 296,041 (1,760,190)
Share of net loss from equity investment (107,850) (189,224)
Other income 87,272 18,326
Total other income (expenses) 351,215 (1,595,811)
Net income (loss) before income taxes 1,387,771 (2,023,021)
Income tax provision (264,294) (238,238)
Net income (loss) 1,123,477 (2,261,259)
Non-controlling interest (405,923) 433,312
Net income (loss) attributable to NetSol $ 717,554 $ (1,827,947)
Net income per share:    
Net income per common share - Basic $ 0.06 $ (0.16)
Net income per common share - Diluted $ 0.06 $ (0.16)
Weighted average number of shares outstanding    
Basic 11,787,233 11,664,239
Diluted 11,787,233 11,664,239
License [Member]    
Net Revenues:    
Total net revenues $ 3,475 $ 2,464,216
Maintenance [Member]    
Net Revenues:    
Total net revenues 5,171,863 4,606,376
Services [Member]    
Net Revenues:    
Total net revenues 7,472,040 6,418,891
Services - Related Party [Member]    
Net Revenues:    
Total net revenues $ 82,933