NETSOL Technologies, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 9 - INTANGIBLE ASSETS

Intangible assets consisted of the following:

	As of			As of
	March 31, 2016			June 30, 2015

Product Licenses - Cost	$	48,632,368		$	48,632,368
Additions		-			-
Effect of Translation Adjustment		(3,281,529	)		(2,325,008	)
Accumulated Amortization		(25,074,124	)		(23,491,893	)
Net Balance	$	20,276,715		$	22,815,467

(A) Product Licenses

Product licenses include internally developed original license issues, renewals, enhancements, copyrights, trademarks, and trade names. Product licenses are amortized on a straight-line basis over their respective lives, and the unamortized amount of $20,276,715 will be amortized over the next 8 years. Amortization expense for the three and nine months ended March 31, 2016 was $686,973 and $2,075,357, respectively. Amortization expense for the three and nine months ended March 31, 2015 was $873,675 and $2,625,040, respectively.

(B) Future Amortization

Estimated amortization expense of intangible assets over the next five years is as follows:

Year ended:
March 31, 2017	$	2,746,316
March 31, 2018		2,746,316
March 31, 2019		2,746,316
March 31, 2020		2,746,316
March 31, 2021		2,746,316
Thereafter		6,545,135
	$	20,276,715