Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest in Subsidiary

v3.7.0.1
Non-Controlling Interest in Subsidiary
 9 Months Ended
Mar. 31, 2017
Noncontrolling Interest [Abstract]  
Non-Controlling Interest in Subsidiary

NOTE 17 – 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
March 31, 2017 		 
             
NetSol PK     33.70 %   $ 12,657,960  
NetSol-Innovation     49.90 %     2,583,427  
VLS, VLSH & VLSIL Combined     49.00 %     295,702  
NetSol Thai     0.006 %     (58 )
Total           $ 15,537,031  

 

SUBSIDIARY   Non-Controlling
Interest % 		    Non-Controlling
Interest at
June 30, 2016 		 
             
NetSol PK     33.40 %   $ 10,292,495  
NetSol-Innovation     49.90 %     2,735,998  
VLS, VLHS & VLSIL Combined     49.00 %     309,213  
NetSol Thai     0.006 %     (4 )
Total           $ 13,337,702  

 

NETSOL TECHNOLOGIES, LIMITED

 

During the nine months ended March 31, 2017, employees of NetSol PK exercised 347,500 options of common stock pursuant to employees exercising stock options and NetSol PK received cash of $54,377, resulting in an increase in non-controlling interest from 33.40% to 33.70%.

 

During the nine months ended March 31, 2017, NetSol PK declared a cash dividend of $425,988.

 

NETSOL INNOVATION

 

During the nine months ended March 31, 2017, NetSol-Innovation declared a cash dividend of $1,669,199.