Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.4
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Net Revenues:        
Total net revenues $ 13,121,460 $ 15,690,019 $ 25,768,838 $ 29,262,435
Cost of revenues:        
Salaries and consultants 5,294,662 4,625,872 9,821,311 9,080,836
Travel 159,174 1,572,923 262,926 2,915,558
Depreciation and amortization 713,749 734,352 1,420,998 1,454,017
Other 911,566 954,912 1,839,719 1,899,436
Total cost of revenues 7,079,151 7,888,059 13,344,954 15,349,847
Gross profit 6,042,309 7,801,960 12,423,884 13,912,588
Operating expenses:        
Selling and marketing 1,558,027 1,858,096 3,167,631 3,601,964
Depreciation and amortization 221,572 215,479 443,362 417,866
General and administrative 4,065,788 4,568,790 7,493,424 8,487,403
Research and development cost 110,419 454,605 196,408 1,127,575
Total operating expenses 5,955,806 7,096,970 11,300,825 13,634,808
Income from operations 86,503 704,990 1,123,059 277,780
Other income and (expenses)        
Gain (loss) on sale of assets (52,531) 528 (74,273) 239
Interest expense (94,241) (88,006) (197,568) (151,669)
Interest income 210,854 435,682 411,675 834,911
Gain (loss) on foreign currency exchange transactions 13,981 61,061 310,022 (1,699,129)
Share of net loss from equity investment (43,685) (164,796) (151,535) (354,020)
Other income 45,365 207,987 132,637 226,313
Total other income (expenses) 79,743 452,456 430,958 (1,143,355)
Net income (loss) before income taxes 166,246 1,157,446 1,554,017 (865,575)
Income tax provision (245,434) (610,510) (509,728) (848,748)
Net income (loss) (79,188) 546,936 1,044,289 (1,714,323)
Non-controlling interest (162,916) 39,039 (568,839) 472,351
Net income (loss) attributable to NetSol $ (242,104) $ 585,975 $ 475,450 $ (1,241,972)
Net income (loss) per share:        
Net income per common share - Basic $ (0.02) $ 0.05 $ 0.04 $ (0.11)
Net income per common share - Diluted $ (0.02) $ 0.05 $ 0.04 $ (0.11)
Weighted average number of shares outstanding        
Basic 11,580,030 11,724,606 11,683,631 11,694,423
Diluted 11,580,030 11,724,606 11,683,631 11,694,423
License Fees [Member]        
Net Revenues:        
Total net revenues $ 2,586,504 $ 176,706 $ 2,589,979 $ 2,640,922
Subscription and Support [Member]        
Net Revenues:        
Total net revenues 5,724,802 5,104,736 10,896,665 9,711,112
Services [Member]        
Net Revenues:        
Total net revenues 4,810,154 10,351,153 12,282,194 16,770,044
Services - Related Party [Member]        
Net Revenues:        
Total net revenues $ 57,424 $ 140,357