|
NOTE
19 – NON-CONTROLLING INTEREST IN SUBSIDIARY
The
Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows:
SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST
| SUBSIDIARY |
|
Non-Controlling Interest % |
|
|
Non-Controlling Interest at
September 30, 2022 |
|
| |
|
|
|
|
|
|
| NetSol PK |
|
|
32.38 |
% |
|
$ |
4,474,385 |
|
| NetSol-Innovation |
|
|
32.38 |
% |
|
|
(10,332 |
) |
| NetSol Thai |
|
|
0.006 |
% |
|
|
(184 |
) |
| OTOZ Thai |
|
|
10.95 |
% |
|
|
(19,803 |
) |
| OTOZ |
|
|
10.94 |
% |
|
|
(164,953 |
) |
| Total |
|
|
|
|
|
$ |
4,279,113 |
|
| SUBSIDIARY |
|
Non-Controlling Interest % |
|
|
Non-Controlling Interest at
June 30, 2022 |
|
| |
|
|
|
|
|
|
| NetSol PK |
|
|
32.38 |
% |
|
$ |
5,479,905 |
|
| NetSol-Innovation |
|
|
32.38 |
% |
|
|
49,146 |
|
| NetSol Thai |
|
|
0.006 |
% |
|
|
(196 |
) |
| OTOZ Thai |
|
|
5.60 |
% |
|
|
(30,768 |
) |
| OTOZ |
|
|
5.59 |
% |
|
|
(47,698 |
) |
| Total |
|
|
|
|
|
$ |
5,450,389 |
|
The
Company’s subsidiary, OTOZ, issued 191,011 shares to one of its employees as part of their employment agreement resulting in an
increase of non-controlling interest from 5.59% to 10.94%. The effective shareholding of the non-controlling interest for OTOZ Thai increased
to 10.95%.
The
following schedule discloses the effect to the Company’s equity due to the changes in the Company’s ownership interest in
OTOZ and OTOZ Thai.
SCHEDULE OF CHANGE IN OWNERSHIP INTEREST
| |
|
|
1 |
|
|
|
2 |
|
| |
|
For the Three Months |
|
| |
|
Ended September 30, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Net income (loss) attributable to NetSol |
|
$ |
(620,729 |
) |
|
$ |
187,969 |
|
| Transfer (to) from non-controlling interest |
|
|
|
|
|
|
|
|
| Increase in paid-in capital for issuance of 191,011 shares of OTOZ Inc. common stock |
|
|
120,565 |
|
|
|
- |
|
| Net transfer (to) from non-controlling interest |
|
|
120,565 |
|
|
|
- |
|
| Change from net income (loss) attributable to NetSol and transfer (to) from non-controlling interest |
|
$ |
(500,164 |
) |
|
$ |
187,969 |
|
|