Quarterly report pursuant to Section 13 or 15(d)

Non-controlling Interest in Subsidiary

v3.8.0.1
Non-controlling Interest in Subsidiary
 6 Months Ended
Dec. 31, 2017
Noncontrolling Interest [Abstract]  
Non-controlling Interest in Subsidiary

NOTE 20 – 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, 2017 		 
             
NetSol PK     33.83 %   $ 12,386,620  
NetSol-Innovation     49.90 %     1,749,551  
VLS, VLSH & VLSIL Combined     49.00 %     407,132  
NetSol Thai     0.006 %     (79 )
Total           $ 14,543,224  

 

SUBSIDIARY   Non-Controlling Interest %     Non-Controlling Interest at
June 30, 2017 		 
             
NetSol PK     33.80 %   $ 12,887,938  
NetSol-Innovation     49.90 %     1,599,734  
VLS, VLHS & VLSIL Combined     49.00 %     311,502  
NetSol Thai     0.006 %     (92 )
Total           $ 14,799,082  

 

NetSol PK

 

During the six months ended December 31, 2017, employees of NetSol PK exercised 50,000 of options of common stock pursuant to employees exercising stock options and NetSol PK received cash of $7,755 resulting in an increase in non-controlling interest from 33.80% to 33.83%.

 

During the six months ended December 31, 2017, NetSol PK paid a cash dividend of $1,234,991.