Quarterly report pursuant to Section 13 or 15(d)

Note 16 - Non-Controlling Interest In Subsidiary

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Note 16 - Non-Controlling Interest In Subsidiary
 6 Months Ended
Dec. 31, 2013
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Disclosure [Text Block]
NOTE 16 – 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:

SUBSIDIARY
 
Non Controlling
Interest %
   
Non-Controlling
Interest at
December 31, 2013
 
             
NetSol PK
    36.17 %   $ 14,365,652  
NetSol-Innovation
    49.90 %     1,654,267  
VLS
    49.00 %     317,090  
Vroozi
    9.09 %     (21,526 )
Total
          $ 16,315,483  
                 

SUBSIDIARY
 
Non Controlling
Interest %
   
Non-Controlling
Interest at
June 30, 2013
 
             
NetSol PK
    34.81 %   $ 15,593,585  
NetSol-Innovation
    49.90 %     1,161,649  
VLS
    49.00 %     481,121  
Vroozi
    9.09 %     34,908  
Total
          $ 17,271,263  
                 

NETSOL TECHNOLOGIES, LIMITED

During the six months ended December 31, 2013, Netsol PK had the following equity transactions:

·
Paid a cash dividend of $743,363.

·
Declared a 10% stock dividend.

·
Issued 1,835,500 shares of common stock and received cash of $269,667 pursuant to employees exercising stock options.

In addition, during the six months ended December 31, 2013, the Company purchased 42,500 shares of Netsol PK's common stock from the open market for $17,667.