Quarterly report pursuant to Section 13 or 15(d)

Goodwill

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Goodwill
 6 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill

NOTE 9 – GOODWILL

 

Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in businesses combinations. Goodwill was comprised of the following amounts:

 

    As of
December 31, 2014		     As of
June 30, 2014		  
NetSol PK   $ 1,166,610     $ 1,166,610  
NTE     3,471,814       3,471,814  
VLS     214,044       214,044  
NTA     4,664,100       4,664,100  
Total   $ 9,516,568     $ 9,516,568  

 

The Company tests for goodwill impairment at each reporting unit. There was no goodwill impairment for the period ended December 31, 2014.