NetSol (NTWK) 10-Q 12 May 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	0-22773
Entity Registrant Name	NETSOL TECHNOLOGIES, INC.
Entity Central Index Key	0001039280
Entity Tax Identification Number	95-4627685
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	23975 Park Sorrento
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	Calabasas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91302
City Area Code	(818)
Local Phone Number	222-9195
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	NTWK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,252,539

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 30,573,312	$ 33,705,154
Accounts receivable, net of allowance of $208,547 and $166,231	7,054,468	4,184,096
Accounts receivable - related party, net of allowance of $1,373,099  and $1,373,099
Revenues in excess of billings, net of allowance of $84,209 and $136,976	14,610,725	14,680,131
Revenues in excess of billings - related party, net of allowance of $8,163 and $8,163
Other current assets, net of allowance of $1,243,633 and $1,243,633	2,864,742	3,009,393
Total current assets	55,103,247	55,578,774
Revenues in excess of billings, net - long term	993,862	957,603
Convertible note receivable - related party, net of allowance of $4,250,000  and $4,250,000
Property and equipment, net	10,114,458	12,091,812
Right of use of assets - operating leases	1,238,713	1,345,869
Long term investment	2,893,700	3,155,852
Other assets	37,583	55,127
Intangible assets, net	2,178,128	3,904,656
Goodwill	9,516,568	9,516,568
Total assets	82,076,259	86,606,261
Current liabilities:
Accounts payable and accrued expenses	6,317,127	6,696,035
Current portion of loans and obligations under finance leases	9,622,669	11,366,171
Current portion of operating lease obligations	706,684	857,729
Unearned revenue	6,948,669	4,556,626
Total current liabilities	23,595,149	23,476,561
Loans and obligations under finance leases; less current maturities	127,899	699,841
Operating lease obligations; less current maturities	570,871	564,257
Total liabilities	24,293,919	24,740,659
Stockholders’ equity:
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 12,191,570  shares issued and 11,252,539  outstanding as of March 31, 2022  and  12,181,585  shares issued and 11,265,064  outstanding as of June 30, 2021	121,916	121,816
Additional paid-in-capital	129,084,786	129,018,826
Treasury stock (at cost, 939,031 shares and 916,521 shares  as of March 31, 2022 and June 30, 2021, respectively)	(3,920,856)	(3,820,750)
Accumulated deficit	(37,484,998)	(38,801,282)
Other comprehensive loss	(36,740,406)	(31,868,481)
Total NetSol stockholders’ equity	51,060,442	54,650,129
Non-controlling interest	6,721,898	7,215,473
Total stockholders’ equity	57,782,340	61,865,602
Total liabilities and stockholders’ equity	$ 82,076,259	$ 86,606,261

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 208,547	$ 166,231
Accounts receivable related party, allowance	1,373,099	1,373,099
Revenues in excess of billings, allowance	84,209	136,976
Revenue in excess of billings - related party allowances	8,163	8,163
Other current assets allowance	1,243,633	1,243,633
Convertible note receivable related party allowances	$ 4,250,000	$ 4,250,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	14,500,000	14,500,000
Common stock, shares issued	12,191,570	12,181,585
Common stock, shares outstanding	11,252,539	11,265,064
Treasury stock, shares	939,031	916,521

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net Revenues:
Total net revenues	$ 14,809,826	$ 13,783,996	$ 43,703,549	$ 39,552,834
Cost of revenues:
Salaries and consultants	6,756,898	5,372,302	18,081,225	15,193,613
Travel	256,730	151,075	753,698	414,001
Depreciation and amortization	741,587	759,768	2,236,190	2,180,766
Other	1,220,041	1,075,403	3,712,256	2,915,122
Total cost of revenues	8,975,256	7,358,548	24,783,369	20,703,502
Gross profit	5,834,570	6,425,448	18,920,180	18,849,332
Operating expenses:
Selling and marketing	2,074,873	1,595,967	5,502,028	4,763,598
Depreciation and amortization	206,346	272,075	633,481	715,437
General and administrative	3,841,655	3,860,509	11,548,097	11,353,933
Research and development cost	251,001	234,678	761,621	431,086
Total operating expenses	6,373,875	5,963,229	18,445,227	17,264,054
Income (loss) from operations	(539,305)	462,219	474,953	1,585,278
Other income and (expenses)
Gain (loss) on sale of assets	8,770	(53,012)	(181,955)	(127,285)
Interest expense	(85,916)	(98,656)	(277,737)	(296,224)
Interest income	364,161	231,979	1,123,547	643,654
Gain (loss) on foreign currency exchange transactions	499,516	(1,825,349)	2,684,680	(1,515,327)
Share of net loss from equity investment	(76,798)	(80,953)	(317,581)	(232,488)
Other income	(30,296)	521,758	(7,599)	654,395
Total other income (expenses)	679,437	(1,304,233)	3,023,355	(873,275)
Net income (loss) before  income taxes	140,132	(842,014)	3,498,308	712,003
Income tax provision	(157,604)	(133,156)	(526,737)	(642,884)
Net income (loss)	(17,472)	(975,170)	2,971,571	69,119
Non-controlling interest	(260,998)	351,939	(1,655,287)	(216,900)
Net income (loss) attributable to NetSol	$ (278,470)	$ (623,231)	$ 1,316,284	$ (147,781)
Net income (loss) per share:
Basic	$ (0.02)	$ (0.05)	$ 0.12	$ (0.01)
Diluted	$ (0.02)	$ (0.05)	$ 0.12	$ (0.01)
Weighted average number of shares outstanding
Basic	11,249,606	11,343,406	11,249,449	11,571,878
Diluted	11,249,606	11,343,406	11,249,449	11,571,878
License [Member]
Net Revenues:
Total net revenues	$ 1,620,827	$ 2,120,963	$ 3,586,874	$ 4,710,942
Subscription and Support [Member]
Net Revenues:
Total net revenues	6,554,540	5,674,776	22,159,798	16,571,441
Service [Member]
Net Revenues:
Total net revenues	$ 6,634,459	$ 5,988,257	$ 17,956,877	$ 18,270,451

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net income (loss)	$ (278,470)	$ (623,231)	$ 1,316,284	$ (147,781)
Other comprehensive income (loss):
Translation adjustment	(2,269,229)	1,448,793	(7,020,620)	4,177,423
Translation adjustment attributable to non-controlling interest	464,452	(507,440)	2,148,695	(1,211,174)
Net translation adjustment	(1,804,777)	941,353	(4,871,925)	2,966,249
Comprehensive income (loss) attributable to NetSol	$ (2,083,247)	$ 318,122	$ (3,555,641)	$ 2,818,468

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)		Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2020		$ 121,222	$ 128,677,754	$ (1,455,969)	$ (34,269,817)	$ (34,085,047)	$ 6,488,900	$ 65,477,043
Balance, shares at Jun. 30, 2020		12,122,149
Common stock issued for:
Services		$ 149	86,864					87,013
Services, shares		14,896
Foreign currency translation adjustment						874,816	219,908	1,094,724
Net income					717,554		405,923	1,123,477
Subsidiary common stock issued for:
-Services							378	378
Purchase of treasury shares				(464,676)				(464,676)
Cumulative effect adjustment	[1]				(6,309,722)		(474,578)	(6,784,300)
Balance at Sep. 30, 2020		$ 121,371	128,764,618	(1,920,645)	(39,861,985)	(33,210,231)	6,640,531	60,533,659
Balance, shares at Sep. 30, 2020		12,137,045
Balance at Jun. 30, 2020		$ 121,222	128,677,754	(1,455,969)	(34,269,817)	(34,085,047)	6,488,900	65,477,043
Balance, shares at Jun. 30, 2020		12,122,149
Common stock issued for:
Foreign currency translation adjustment								4,177,423
Net income								69,119
Balance at Mar. 31, 2021		$ 121,580	128,881,744	(3,520,769)	(40,727,320)	(31,118,798)	7,442,774	61,079,211
Balance, shares at Mar. 31, 2021		12,157,871
Balance at Sep. 30, 2020		$ 121,371	128,764,618	(1,920,645)	(39,861,985)	(33,210,231)	6,640,531	60,533,659
Balance, shares at Sep. 30, 2020		12,137,045
Common stock issued for:
Services		$ 105	58,563					58,668
Services, shares		10,413
Foreign currency translation adjustment						1,150,080	483,826	1,633,906
Net income					(242,104)		162,916	(79,188)
Subsidiary common stock issued for:
Purchase of treasury shares				(927,995)				(927,995)
Balance at Dec. 31, 2020		$ 121,476	128,823,181	(2,848,640)	(40,104,089)	(32,060,151)	7,287,273	61,219,050
Balance, shares at Dec. 31, 2020		12,147,458
Common stock issued for:
Services		$ 104	58,563					58,667
Services, shares		10,413
Foreign currency translation adjustment						941,353	507,440	1,448,793
Net income					(623,231)		(351,939)	(975,170)
Subsidiary common stock issued for:
Purchase of treasury shares				(672,129)				(672,129)
Balance at Mar. 31, 2021		$ 121,580	128,881,744	(3,520,769)	(40,727,320)	(31,118,798)	7,442,774	61,079,211
Balance, shares at Mar. 31, 2021		12,157,871
Balance at Jun. 30, 2021		$ 121,816	129,018,826	(3,820,750)	(38,801,282)	(31,868,481)	7,215,473	61,865,602
Balance, shares at Jun. 30, 2021		12,181,585
Common stock issued for:
Services		$ 20	11,989					12,009
Services, shares		1,985
Foreign currency translation adjustment						(2,145,405)	(1,138,991)	(3,284,396)
Net income					187,969		362,526	550,495
Subsidiary common stock issued for:
-Services			167				(167)
Purchase of treasury shares				(100,106)				(100,106)
Balance at Sep. 30, 2021		$ 121,836	129,030,982	(3,920,856)	(38,613,313)	(34,013,886)	6,438,841	59,043,604
Balance, shares at Sep. 30, 2021		12,183,570
Balance at Jun. 30, 2021		$ 121,816	129,018,826	(3,820,750)	(38,801,282)	(31,868,481)	7,215,473	61,865,602
Balance, shares at Jun. 30, 2021		12,181,585
Common stock issued for:
Foreign currency translation adjustment								(7,020,620)
Net income								2,971,571
Balance at Mar. 31, 2022		$ 121,916	129,084,786	(3,920,856)	(37,484,998)	(36,740,406)	6,721,898	57,782,340
Balance, shares at Mar. 31, 2022		12,191,570
Balance at Sep. 30, 2021		$ 121,836	129,030,982	(3,920,856)	(38,613,313)	(34,013,886)	6,438,841	59,043,604
Balance, shares at Sep. 30, 2021		12,183,570
Common stock issued for:
Services		$ 25	9,875					9,900
Services, shares		2,500
Fair value of subsidiary options issued			1,164					1,164
Foreign currency translation adjustment						(921,743)	(545,252)	(1,466,995)
Net income					1,406,785		1,031,763	2,438,548
Balance at Dec. 31, 2021		$ 121,861	129,042,021	(3,920,856)	(37,206,528)	(34,935,629)	6,925,352	60,026,221
Balance, shares at Dec. 31, 2021		12,186,070
Common stock issued for:
Services		$ 55	22,170					22,225
Services, shares		5,500
Fair value of subsidiary options issued			20,595					20,595
Foreign currency translation adjustment						(1,804,777)	(464,452)	(2,269,229)
Net income					(278,470)		260,998	(17,472)
Balance at Mar. 31, 2022		$ 121,916	$ 129,084,786	$ (3,920,856)	$ (37,484,998)	$ (36,740,406)	$ 6,721,898	$ 57,782,340
Balance, shares at Mar. 31, 2022		12,191,570
[1]	Cumulative effect adjustment relates to the adoption of Accounting Standard Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Refer to Note 2 – Accounting Policies for more information.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 2,971,571	$ 69,119
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,869,671	2,896,203
Provision for bad debts	6,897	(280,363)
Share of net loss from investment under equity method	317,581	232,488
Loss on sale of assets	181,955	127,285
Stock based compensation	78,225	239,333
Changes in operating assets and liabilities:
Accounts receivable	(3,404,247)	(777,953)
Revenues in excess of billing	(385,971)	7,485,646
Other current assets	53,173	(791,849)
Accounts payable and accrued expenses	14,918	(69,021)
Unearned revenue	2,822,178	1,256,456
Net cash provided by operating activities	5,525,951	10,387,344
Cash flows from investing activities:
Purchases of property and equipment	(1,680,856)	(2,109,058)
Sales of property and equipment	321,251	131,293
Investment in associates		(155,500)
Net cash used in investing activities	(1,359,605)	(2,133,265)
Cash flows from financing activities:
Purchase of treasury stock	(100,106)	(2,064,800)
Proceeds from bank loans	312,467	2,109,572
Payments on finance lease obligations and loans - net	(1,045,464)	(533,344)
Net cash used in financing activities	(833,103)	(488,572)
Effect of exchange rate changes	(6,465,085)	2,666,800
Net increase (decrease) in cash and cash equivalents	(3,131,842)	10,432,307
Cash and cash equivalents at beginning of the period	33,705,154	20,166,830
Cash and cash equivalents at end of period	30,573,312	30,599,137
SUPPLEMENTAL DISCLOSURES:
Interest	332,239	392,950
Taxes	694,161	468,628
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets acquired under finance lease		222,391
Drivemate shares acquired for services rendered		1,300,000
Shares issued to vendor for services received	$ 19,525

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION	9 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION	NOTE 1 - BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The Company designs, develops, markets, and exports proprietary software products to customers in the automobile financing and leasing, banking, and financial services industries worldwide. The Company also provides system integration, consulting, and IT products and services in exchange for fees from customers. The consolidated condensed interim financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended June 30, 2021. The Company follows the same accounting policies in preparation of interim reports. Results of operations for the interim periods are not indicative of annual results. The accompanying consolidated financial statements include the accounts of the Company as follows: Wholly owned Subsidiaries NetSol Technologies Americas, Inc. (“NTA”) NetSol Connect (Private), Ltd. (“Connect”) NetSol Technologies Australia Pty Ltd. (“Australia”) NetSol Technologies Europe Limited (“NTE”) NTPK (Thailand) Co. Limited (“NTPK Thailand”) NetSol Technologies (Beijing) Co. Ltd. (“NetSol Beijing”) Tianjin NuoJinZhiCheng Co., Ltd (“Tianjin”) Ascent Europe Ltd. (“AEL”) Virtual Lease Services Holdings Limited (“VLSH”) Virtual Lease Services Limited (“VLS”) Virtual Lease Services (Ireland) Limited (“VLSIL”) Majority-owned Subsidiaries NetSol Technologies, Ltd. (“NetSol PK”) NetSol Innovation (Private) Limited (“NetSol Innovation”) NetSol Technologies Thailand Limited (“NetSol Thai”) OTOZ, Inc. (“OTOZ”) OTOZ (Thailand) Limited (“OTOZ Thai”) NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
ACCOUNTING POLICIES	NOTE 2 – ACCOUNTING POLICIES Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The areas requiring significant estimates are provision for doubtful accounts, provision for taxation, useful life of depreciable assets, useful life of intangible assets, contingencies, assumptions used to determine the net present value of operating lease liabilities, and estimated contract costs. The estimates and underlying assumptions are reviewed on an ongoing basis. Actual results could differ from those estimates. Concentration of Credit Risk Cash includes cash on hand and demand deposits in accounts maintained within the United States as well as in foreign countries. Certain financial instruments, which subject the Company to concentration of credit risk, consist of cash and restricted cash. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for the banks located in the United States. Balances at financial institutions within certain foreign countries are not covered by insurance except balances maintained in China are insured for RMB 500,000 78,864 85,000 111,842 29,315,355 31,662,035 The Company’s operations are carried out globally. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments of each country and by the general state of the country’s economy. The Company’s operations in each foreign country are subject to specific considerations and significant risks not typically associated with companies in economically developed nations. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. Fair Value of Financial Instruments The Company applies the provisions of Accounting Standards Codification (“ASC”) 820-10, “Fair Value Measurements and Disclosures.” The three levels of valuation hierarchy are defined as follows: Level 1: Valuations consist of unadjusted quoted prices in active markets for identical assets and liabilities and has the highest priority. Level 2: Valuations rely on quoted prices in markets that are not active or observable inputs over the full term of the asset or liability. Level 3: Valuations are based on prices or third party or internal valuation models that require inputs that are significant to the fair value measurement and are less observable and thus have the lowest priority. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The Company’s financial assets that were measured at fair value on a recurring basis as of March 31, 2022, were as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 993,862 $ 993,862 Total $ - $ - $ 993,862 $ 993,862 The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2021, were as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billing - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603 The reconciliation from June 30, 2021 to March 31, 2022 is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603 Amortization during the period - 28,587 28,587 Effect of Translation Adjustment 7,813 (141 ) 7,672 Balance at March 31, 2022 $ 1,032,195 $ (38,333 ) $ 993,862 Management analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity” “Derivatives and Hedging.” Recent Accounting Standards: Accounting Standards Recently Issued but Not Yet Adopted by the Company: In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2021, which for the Company is the first quarter of fiscal 2023, with early adoption permitted beginning in the first quarter of fiscal 2022. The Company is currently assessing the impact and timing of adoption of this ASU. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. ASU 2021-08 is effective for annual periods beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company does not expect the standard to have a material effect on its consolidated financial statements. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 3 – REVENUE RECOGNITION The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when, or as, the Company satisfies a performance obligation. The Company records the amount of revenue and related costs by considering whether the entity is a principal (gross presentation) or an agent (net presentation) by evaluating the nature of its promise to the customer. Revenue is presented net of sales, value-added and other taxes collected from customers and remitted to government authorities. The Company has two primary revenue streams: core revenue and non-core revenue. Core Revenue The Company generates its core revenue from the following sources: (1) software licenses, (2) services, which include implementation and consulting services, and (3) subscription and support, which includes post contract support, of its enterprise software solutions for the lease and finance industry. The Company offers its software using the same underlying technology via two models: a traditional on-premises licensing model and a subscription model. The on-premises model involves the sale or license of software on a perpetual basis to customers who take possession of the software and install and maintain the software on their own hardware. Under the subscription delivery model, the Company provides access to its software on a hosted basis as a service and customers generally do not have the contractual right to take possession of the software. Non-Core Revenue The Company generates its non-core revenue by providing business process outsourcing (“BPO”), other IT services and internet services. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. The transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied by transferring the promised good or service to the customer. The Company identifies and tracks the performance obligations at contract inception so that the Company can monitor and account for the performance obligations over the life of the contract. The Company’s contracts which contain multiple performance obligations generally consist of the initial purchase of subscription or licenses and a professional services engagement. License purchases generally have multiple performance obligations as customers purchase post contract support and services in addition to the licenses. The Company’s single performance obligation arrangements are typically post contract support renewals, subscription renewals and services engagements. For contracts with multiple performance obligations where the contracted price differs from the standalone selling price (“SSP”) for any distinct good or service, the Company may be required to allocate the contract’s transaction price to each performance obligation using its best estimate for the SSP. Software Licenses Transfer of control for software is considered to have occurred upon delivery of the product to the customer. The Company’s typical payment terms tend to vary by region, but its standard payment terms are within 30 days of invoice. Subscription Subscription revenue is recognized ratably over the initial subscription period committed to by the customer commencing when the product is made available to the customer. The initial subscription period is typically 12 to 60 months. The Company generally invoices its customers in advance in quarterly or annual installments and typical payment terms provide that customers make payment within 30 days of invoice. Post Contract Support Revenue from support services and product updates, referred to as subscription and support revenue, is recognized ratably over the term of the maintenance period, which in most instances is one year. Software license updates provide customers with rights to unspecified software product updates and patches released during the term of the support period on a when-and-if available basis. The Company’s customers purchase both product support and license updates when they acquire new software licenses. In addition, a majority of customers renew their support services contracts annually and typical payment terms provide that customers make payment within 30 days of invoice. Professional Services Revenue from professional services is typically comprised of implementation, development, data migration, training or other consulting services. Consulting services are generally sold on a time-and-materials or fixed fee basis and can include services ranging from software installation to data conversion and building non-complex interfaces to allow the software to operate in integrated environments. The Company recognizes revenue for time-and-materials arrangements as the services are performed. In fixed fee arrangements, revenue is recognized as services are performed as measured by costs incurred to date, compared to total estimated costs to complete the services project. Management applies judgment when estimating project status and the costs necessary to complete the services projects. A number of internal and external factors can affect these estimates, including labor rates, utilization and efficiency variances and specification and testing requirement changes. Services are generally invoiced upon milestones in the contract or upon consumption of the hourly resources and payments are typically due 30 days after invoice. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) BPO and Internet Services Revenue from BPO services is recognized based on the stage of completion which is measured by reference to labor hours incurred to date as a percentage of total estimated labor hours for each contract. Internet services are invoiced either monthly, quarterly or half yearly in advance to the customers and revenue is recognized ratably overtime on a monthly basis. Disaggregated Revenue The Company disaggregates revenue from contracts with customers by category — core and non-core, as it believes it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s disaggregated revenue by category is as follows: SCHEDULE OF DISAGGREGATED REVENUE BY CATEGORY 2022 2021 2022 2021 For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Core: License $ 1,620,827 $ 2,120,963 $ 3,586,874 $ 4,710,942 Subscription and support 6,554,540 5,674,776 22,159,798 16,571,441 Services 5,416,635 4,379,316 14,140,429 13,443,629 Services - related party - - - - Total core revenue, net 13,592,002 12,175,055 39,887,101 34,726,012 Non-Core: Services 1,217,824 1,608,941 3,816,448 4,826,822 Total non-core revenue, net 1,217,824 1,608,941 3,816,448 4,826,822 Total net revenue $ 14,809,826 $ 13,783,996 $ 43,703,549 $ 39,552,834 Significant Judgments Due to the complexity of certain contracts, the actual revenue recognition treatment required under Topic 606 for the Company’s arrangements may be dependent on contract-specific terms and may vary in some instances. Judgment is required to determine the SSP for each distinct performance obligation. The Company rarely licenses or sells products on a stand-alone basis, so the Company is required to estimate the range of SSPs for each performance obligation. In instances where SSP is not directly observable because the Company does not sell the license, product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs. In making these judgments, the Company analyzes various factors, including its pricing methodology and consistency, size of the arrangement, length of term, customer demographics and overall market and economic conditions. Based on these results, the estimated SSP is set for each distinct product or service delivered to customers. The most significant inputs involved in the Company’s revenue recognition policies are: The (1) stand-alone selling prices of the Company’s software license, and the (2) the method of recognizing revenue for installation/customization, and other services. The stand-alone selling price of the licenses was measured primarily through an analysis of pricing that management evaluated when quoting prices to customers. Although the Company has no history of selling its software separately from post contract support and other services, the Company does have historical experience with amending contracts with customers to provide additional modules of its software or providing those modules at an optional price. This information guides the Company in assessing the stand-alone selling price of the Company’s software, since the Company can observe instances where a customer had a particular component of the Company’s software that was essentially priced separate from other goods and services that the Company delivered to that customer. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The Company recognizes revenue from implementation and customization services using the percentage of estimated “man-days” that the work requires. The Company believes the level of effort to complete the services is best measured by the amount of time (measured as an employee working for one day on implementation/customization work) that is required to complete the implementation or customization work. The Company reviews its estimate of man-days required to complete implementation and customization services each reporting period. Revenue is recognized over time for the Company’s subscription, post contract support and fixed fee professional services that are separate performance obligations. For the Company’s professional services, revenue is recognized over time, generally using costs incurred or hours expended to measure progress. Judgment is required in estimating project status and the costs necessary to complete projects. A number of internal and external factors can affect these estimates, including labor rates, utilization, specification variances and testing requirement changes. If a group of agreements are entered at or near the same time and so closely related that they are, in effect, part of a single arrangement, such agreements are deemed to be combined as one arrangement for revenue recognition purposes. The Company exercises significant judgment to evaluate the relevant facts and circumstances in determining whether agreements should be accounted for separately or as a single arrangement. The Company’s judgments about whether a group of contracts comprise a single arrangement can affect the allocation of consideration to the distinct performance obligations, which could have an effect on results of operations for the periods involved. If a contract includes variable consideration, the Company exercises judgment in estimating the amount of consideration to which the entity will be entitled in exchange for transferring the promised goods or services to a customer. When estimating variable consideration, the Company will consider all relevant facts and circumstances. Variable consideration will be estimated and included in the contract price only when it is probable that a significant reversal in the amount of revenue recognized will not occur. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers and these timing differences result in receivables, contract assets (revenues in excess of billings), or contract liabilities (deferred revenue) on the Company’s Consolidated Balance Sheets. The Company records revenues in excess of billings when the Company has transferred goods or services but does not yet have the right to consideration. The Company records deferred revenue when the Company has received or has the right to receive consideration but has not yet transferred goods or services to the customer. The revenues in excess of billings are transferred to receivables when the rights to consideration become unconditional, usually upon completion of a milestone. The Company’s revenues in excess of billings and unearned revenue are as follows: SCHEDULE OF REVENUES IN EXCESS OF BILLINGS AND DEFERRED REVENUE As of As of March 31, 2022 June 30, 2021 Revenues in excess of billings $ 15,604,587 $ 15,637,734 Unearned revenue $ 6,948,669 $ 4,556,626 During the nine months ended March 31, 2022, the Company recognized revenue of $ 3,282,962 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted but unsatisfied performance obligations were approximately $ 43,389,621 15,344,251 6 Unearned Revenue The Company typically invoices its customers for subscription and support fees in advance on a quarterly or annual basis, with payment due at the start of the subscription or support term. Unpaid invoice amounts for non-cancelable license and services starting in future periods are included in accounts receivable and unearned revenue. Practical Expedients and Exemptions There are several practical expedients and exemptions allowed under Topic 606 that impact timing of revenue recognition and the Company’s disclosures. The Company has applied the following practical expedients: ● The Company does not evaluate a contract for a significant financing component if payment is expected within one year or less from the transfer of the promised items to the customer. ● The Company generally expenses sales commissions and sales agent fees when incurred when the amortization period would have been one year or less or the commissions are based on cashed received. These costs are recorded within sales and marketing expense in the Consolidated Statement of Operations. ● The Company does not disclose the value of unsatisfied performance obligations for contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed (applies to time-and-material engagements). Costs to Obtain a Contract The Company does not have a material amount of costs to obtain a contract capitalized at any balance sheet date. In general, the Company incurs few direct incremental costs of obtaining new customer contracts. The Company rarely incurs incremental costs to review or otherwise enter into contractual arrangements with customers. In addition, the Company’s sales personnel receive fees that are referred to as commissions, but that are based on more than simply signing up new customers. The Company’s sales personnel are required to perform additional duties beyond new customer contract inception dates, including fulfillment duties and collections efforts. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 4 – EARNINGS PER SHARE Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards. The components of basic and diluted earnings per share were as follows: SCHEDULE OF COMPONENTS OF BASIC AND DILUTED EARNINGS PER SHARE For the three months ended March 31, 2022 For the nine months ended March 31, 2022 Net Loss Shares Per Share Net Income Shares Per Share Basic income (loss) per share: Net income (loss) available to common shareholders $ (278,470 ) 11,249,606 $ (0.02 ) $ 1,316,284 11,249,449 $ 0.12 Effect of dilutive securities Share grants - - - - - - Diluted income (loss) per share $ (278,470 ) 11,249,606 $ (0.02 ) $ 1,316,284 11,249,449 $ 0.12 For the three months ended March 31, 2021 For the nine months ended March 31, 2021 Net Loss Shares Per Share Net Loss Shares Per Share Basic loss per share: Net loss available to common shareholders $ (623,231 ) 11,343,406 $ (0.05 ) $ (147,781 ) 11,571,878 $ (0.01 ) Effect of dilutive securities Share grants - - - - - - Diluted loss per share $ (623,231 ) 11,343,406 $ (0.05 ) $ (147,781 ) 11,571,878 $ (0.01 ) For the three month ended March 31, 2022, 5,000 For the three and nine months ended March 31, 2021, 30,699

OTHER COMPREHENSIVE INCOME AND

OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY	9 Months Ended
	Mar. 31, 2022
Other Comprehensive Income And Foreign Currency
OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY	NOTE 5 – OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY The accounts of NTE, AEL, VLSH and VLS use the British Pound; VLSIL uses the Euro; NetSol PK, Connect, and NetSol Innovation use the Pakistan Rupee; NTPK Thailand and NetSol Thai use the Thai Baht; Australia uses the Australian dollar; and NetSol Beijing and Tianjin use the Chinese Yuan as the functional currencies. NetSol Technologies, Inc., and its subsidiary, NTA, use the U.S. dollar as the functional currency. Assets and liabilities are translated at the exchange rate on the balance sheet date, and operating results are translated at the average exchange rate throughout the period. Accumulated translation losses classified as an item of accumulated other comprehensive loss in the stockholders’ equity section of the consolidated balance sheet were $ 36,740,406 31,868,481 (1,804,777) (4,871,925) 941,353 2,966,249 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

MAJOR CUSTOMERS

MAJOR CUSTOMERS	9 Months Ended
	Mar. 31, 2022
Risks and Uncertainties [Abstract]
MAJOR CUSTOMERS	NOTE 6 – MAJOR CUSTOMERS During the nine months ended March 31, 2022, revenues from Daimler Financial Services (“DFS”) and BMW Financial (“BMW”) were $ 15,692,171 3,203,536 35.9 7.3 7,763,189 4,295,139 19.6 10.9 Accounts receivable from DFS and BMW at March 31, 2022, were $ 3,168,260 305,321 462,861 35,063 1,252,548 3,696,816 2,041,750 4,453,299

CONVERTIBLE NOTES RECEIVABLE _

CONVERTIBLE NOTES RECEIVABLE – RELATED PARTY	9 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
CONVERTIBLE NOTES RECEIVABLE – RELATED PARTY	NOTE 7 – CONVERTIBLE NOTES RECEIVABLE – RELATED PARTY The Company has entered into multiple convertible note receivable agreements with WRLD3D. The convertible notes bear interest ranging from 5 10 The following table summarizes the convertible notes receivable from WRLD3D. SCHEDULE OF CONVERTIBLE NOTES Convertible Agreement Interest Maturity Note Accrued Date Rate Date Amount Interest May 25, 2017 5 % March 2, 2018 $ 750,000 $ 110,202 February 9, 2018 10 % March 31, 2019 2,500,000 500,773 April 1, 2019 10 % March 31, 2020 600,000 57,648 August 19, 2019 10 % March 31, 2020 400,000 32,439 4,250,000 701,062 Less allowance for doubtful account (4,250,000 ) (701,062 ) Net Balance $ - $ - The Company has accrued interest of $ 701,062 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	9 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT ASSETS	NOTE 8 - OTHER CURRENT ASSETS Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS As of As of March 31, 2022 June 30, 2021 Prepaid Expenses $ 1,709,971 $ 1,987,556 Advance Income Tax 379,638 344,699 Employee Advances 112,595 28,816 Security Deposits 252,941 281,464 Other Receivables 93,628 143,258 Other Assets 315,969 223,600 Due From Related Party 1,243,633 1,243,633 Total 4,108,375 4,253,026 Less allowance for doubtful account (1,243,633 ) (1,243,633 ) Net Balance $ 2,864,742 $ 3,009,393 Due from related party is the amount receivable from WRLD3D for which we have provided an allowance for credit loss for the full amount, leaving a net balance of $ 0

REVENUES IN EXCESS OF BILLINGS

REVENUES IN EXCESS OF BILLINGS – LONG TERM	9 Months Ended
	Mar. 31, 2022
Contractors [Abstract]
REVENUES IN EXCESS OF BILLINGS – LONG TERM	NOTE 9 – REVENUES IN EXCESS OF BILLINGS – LONG TERM Revenues in excess of billings, net consisted of the following: SCHEDULE OF REVENUE IN EXCESS OF BILLING As of As of March 31, 2022 June 30, 2021 Revenues in excess of billings - long term $ 1,032,195 $ 1,024,382 Present value discount (38,333 ) (66,779 ) Net Balance $ 993,862 $ 957,603 Pursuant to revenue recognition for contract accounting, the Company had recorded revenues in excess of billings long-term for amounts billable after one year. During the three and nine months ended March 31, 2022, the Company accreted $ 9,546 28,587 2,331 44,157 4.65 6.25 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 10 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT As of As of March 31, 2022 June 30, 2021 Office Furniture and Equipment $ 3,287,329 $ 3,440,501 Computer Equipment 14,122,850 18,681,991 Assets Under Capital Leases 341,927 1,136,128 Building 5,378,874 6,205,210 Land 1,387,483 1,608,024 Autos 2,244,069 1,770,147 Improvements 191,934 35,592 Subtotal 26,954,466 32,877,593 Accumulated Depreciation (16,840,008 ) (20,785,781 ) Property and Equipment, Net $ 10,114,458 $ 12,091,812 For the three and nine months ended March 31, 2022, depreciation expense was $ 540,822 1,608,007 334,476 974,526 575,855 1,557,578 303,780 842,141 Following is a summary of fixed assets held under finance leases as of March 31, 2022 and June 30, 2021: SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES As of As of March 31, 2022 June 30, 2021 Computers and Other Equipment $ - $ 169,487 Furniture and Fixtures - 57,509 Vehicles 341,927 909,132 Total 341,927 1,136,128 Less: Accumulated Depreciation - Net (149,740 ) (627,119 ) Fixed assets held under finance leases, Total $ 192,187 $ 509,009 Finance lease term and discount rate were as follows: SCHEDULE OF FINANCE LEASE TERM As of As of March 31, 2022 June 30, 2021 Weighted average remaining lease term - Finance leases 2.18 0.55 Weighted average discount rate - Finance leases 9.7 % 5.6 % NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

LEASES

LEASES	9 Months Ended
	Mar. 31, 2022
Leases
LEASES	NOTE 11 - LEASES The Company leases certain office space, office equipment and autos with remaining lease terms of one year 10 one year 10 The Company treats a contract as a lease when the contract conveys the right to use a physically distinct asset for a period of time in exchange for consideration, or the Company directs the use of the asset and obtains substantially all the economic benefits of the asset. These leases are recorded as right-of-use (“ROU”) assets and lease obligation liabilities for leases with terms greater than 12 months. ROU assets represent the Company’s right to use an underlying asset for the entirety of the lease term. Lease liabilities represent the Company’s obligation to make payments over the life of the lease. A ROU asset and a lease liability are recognized at commencement of the lease based on the present value of the lease payments over the life of the lease. Initial direct costs are included as part of the ROU asset upon commencement of the lease. Since the interest rate implicit in a lease is generally not readily determinable for the operating leases, the Company uses an incremental borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value. The Company reviews the impairment of ROU assets consistent with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company elected the practical expedient to exclude short-term leases (leases with original terms of 12 months or less) from ROU asset and lease liability accounts. Lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred. Variable payments change due to facts or circumstances occurring after the commencement date, other than the passage of time, and do not result in a re-measurement of lease liabilities. The Company’s variable lease payments include payments for finance leases that are adjusted based on a change in the Karachi Inter Bank Offer Rate. The Company’s lease agreements do not contain any significant residual value guarantees or restrictive covenants. Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE As of As of March 31, 2022 June 30, 2021 Assets Operating lease assets, net $ 1,238,713 $ 1,345,869 Liabilities Current Operating $ 706,684 $ 857,729 Operating, Current $ 706,684 $ 857,729 Non-current Operating 570,871 564,257 Operating, Non-current 570,871 564,257 Total Lease Liabilities $ 1,277,555 $ 1,421,986 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The components of lease cost were as follows: SCHEDULE OF COMPONENTS OF LEASE COST 2022 2021 2022 2021 For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Amortization of finance lease assets $ 16,273 $ 65,628 $ 59,201 $ 142,807 Interest on finance lease obligation 5,632 6,662 13,780 25,307 Operating lease cost 137,270 319,712 518,048 950,538 Short term lease cost 128,008 33,138 166,789 63,209 Sub lease income (8,907 ) (9,155 ) (27,012 ) (26,517 ) Total lease cost $ 278,276 $ 415,985 $ 730,806 $ 1,155,344 Lease term and discount rate were as follows: SCHEDULE OF LEASE TERM AND DISCOUNT RATE As of As of March 31, 2022 June 30, 2021 Weighted average remaining lease term - Operating leases 3.38 1.78 Weighted average discount rate - Operating leases 5.9 % 5.7 % Supplemental disclosures of cash flow information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES 2022 2021 For the Nine Months Ended March 31 2022 2021 Operating cash flows related to operating leases $ 541,705 $ 856,135 Operating cash flows related to finance leases $ 3,553 $ 20,138 Financing cash flows related to finance leases $ 55,399 $ 254,985 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) Maturities of operating lease liabilities were as follows as of March 31, 2022: SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES Amount Within year 1 $ 742,215 Within year 2 221,799 Within year 3 146,200 Within year 4 131,729 Within year 5 98,977 Thereafter 1,621 Total Lease Payments 1,342,541 Less: Imputed interest (64,986 ) Present Value of lease liabilities 1,277,555 Less: Current portion (706,684 ) Non-Current portion $ 570,871 The Company is a lessor for certain office space leased by the Company and sub-leased to others under non-cancelable leases. These lease agreements provide for a fixed base rent and are currently on a month by month basis. All leases are considered operating leases. There are no rights to purchase the premises and no residual value guarantees. For the three and nine months ended March 31, 2022, the Company received lease income of $ 8,907 27,012 9,155 26,517

LONG TERM INVESTMENT

LONG TERM INVESTMENT	9 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
LONG TERM INVESTMENT	NOTE 12 – LONG TERM INVESTMENT Drivemate The Company and Drivemate Co., Ltd. (“Drivemate”) entered into a subscription agreement on April 25, 2019, (“Drivemate Agreement”) whereby the Company purchased an equity interest of 30 5,469 1,800,000 500,000 1,300,000 500,000 1,300,000 Pursuant to the agreement, the number of shares to be issued is adjusted as necessary to result in an equity ownership equal to 30% of the issued and outstanding shares at the final payment date. As of March 31, 2022, the Company has been issued 8,178 shares equal to 30% of Drivemate. Per the Drivemate Agreement, the Company appointed two directors to the Drivemate board. The Company determined that it met the significant influence criteria since two of the four directors are appointed by the Company and the Company owns 30% of Drivemate; therefore, the Company accounts for the investment using the equity method of accounting. The Company provided services of $ Nil 12,528 no Under the equity method of accounting, the Company recorded its share of net income of $ 4,712 54,193 Nil 3,919 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) WRLD3D-Related Party On March 2, 2017, the Company purchased a 4.9 1,111,111 555,556 555,555 12.2 2,777,778 NetSol PK has no 1,373,099 8,163 Under the equity method of accounting, the Company recorded its share of net loss of $ 81,510 263,388 80,953 236,407 The following table reflects the above investments at March 31, 2022. SCHEDULE OF LONG TERM INVESTMENT Drivemate WRLD3D Total Gross investment $ 1,800,000 $ 3,888,889 $ 5,688,889 Cumulative net loss on investment (94,143 ) (2,184,775 ) (2,278,918 ) Cumulative other comprehensive income (loss) - (516,271 ) (516,271 ) Net investment $ 1,705,857 $ 1,187,843 $ 2,893,700

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 13 - INTANGIBLE ASSETS Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS As of As of March 31, 2022 June 30, 2021 Product Licenses - Cost $ 47,244,997 $ 47,244,997 Effect of Translation Adjustment (17,652,591 ) (14,440,001 ) Accumulated Amortization (27,414,278 ) (28,900,340 ) Net Balance $ 2,178,128 $ 3,904,656 (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 $ 2,178,128 1.5 407,111 1,261,664 455,988 1,338,625 (B) Future Amortization Estimated amortization expense of intangible assets is as follows: SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS Period ended: March 31, 2023 $ 1,587,416 March 31, 2024 590,712 Net Balance $ 2,178,128 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 14 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES As of As of March 31, 2022 June 30, 2021 Accounts Payable $ 1,791,577 $ 1,067,937 Accrued Liabilities 3,543,428 2,662,666 Accrued Payroll - 1,782,512 Accrued Payroll Taxes 316,355 295,349 Taxes Payable 405,550 608,121 Other Payable 260,217 279,450 Total $ 6,317,127 $ 6,696,035

DEBTS

DEBTS	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBTS	NOTE 15 – DEBTS Notes payable and finance leases consisted of the following: SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES As of March 31, 2022 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 186,395 $ 186,395 $ - Bank Overdraft Facility (2) - - - Term Finance Facility (3) 711,264 711,264 - Loan Payable Bank - Export Refinance (4) 2,728,811 2,728,811 - Loan Payable Bank - Running Finance (5) - - - Loan Payable Bank - Export Refinance II (6) 2,073,896 2,073,896 - Loan Payable Bank - Running Finance II (7) - - - Loan Payable Bank - Export Refinance III (8) 3,820,335 3,820,335 - Sale and Leaseback Financing (9) 101,342 39,417 61,925 Term Finance Facility (10) 38,428 19,486 18,942 Insurance Financing (11) 5,010 5,010 - 9,665,481 9,584,614 80,867 Subsidiary Finance Leases (12) 85,087 38,055 47,032 $ 9,750,568 $ 9,622,669 $ 127,899 As of June 30, 2021 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 73,143 $ 73,143 $ - Bank Overdraft Facility (2) - - - Term Finance Facility (3) 1,648,818 1,090,259 558,559 Loan Payable Bank - Export Refinance (4) 3,162,555 3,162,555 - Loan Payable Bank - Running Finance (5) - - - Loan Payable Bank - Export Refinance II (6) 2,403,542 2,403,542 - Loan Payable Bank - Running Finance II (7) - - - Loan Payable Bank - Export Refinance III (8) 4,427,578 4,427,578 - Sale and Leaseback Financing (9) 85,313 28,183 57,130 Term Finance Facility (10) 55,182 19,644 35,538 Insurance Financing (11) 41,774 41,774 - 11,897,905 11,246,678 651,227 Subsidiary Finance Leases (12) 168,107 119,493 48,614 $ 12,066,012 $ 11,366,171 $ 699,841 (1) The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings were ranging from 5.0 7.0 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) (2) The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £ 300,000 394,737 5.12 Nil This overdraft facility requires that the aggregate amount of invoiced trade debtors (net of provisions for bad and doubtful debts and excluding intra-group debtors) of NTE, not exceeding 90 days old, will not be less than an amount equal to 200 (3) The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 pandemic. This is a term loan payable in three years. The availed facility amount was Rs. 130,324,892 711,264 260,678,818 1,648,818 1,090,259 558,559 3 (4) The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 500,000,000 2,728,811 500,000,000 3,162,555 3 (5) The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 75,000,000 409,322 Nil 14.0 9.5 This facility requires NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1 (6) The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 380,000,000 2,073,896 380,000,000 2,403,542 3 (7) The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 120,000,000 654,915 120,000,000 759,013 13.5 9.0 Nil During the tenure of the loan, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times (8) The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 900,000,000 4,911,859 900,000,000 5,692,600 700,000,000 3,820,335 700,000,000 4,427,578 3 (9) The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of March 31, 2022, NetSol PK used Rs. 18,568,847 101,342 61,925 39,417 13,487,949 85,313 57,130 28,183 9.0 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) (10) In March 2019, the Company’s subsidiary, VLS, entered into a loan agreement. The loan amount was £ 69,549 91,512 1,349 1,775 34,428 18,942 19,486 55,182 35,538 19,644 6.14 (11) The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $ 5,011 41,774 9.7 12.7 9.7 (12) The Company leases various fixed assets under finance lease arrangements expiring in various years through 2024. The assets and liabilities under finance leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under finance leases is included in depreciation expense for the three and nine months ended March 31, 2022 and 2021. Following is the aggregate minimum future lease payments under finance leases as of March 31, 2022: SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES Amount Minimum Lease Payments Within year 1 $ 44,278 Within year 2 41,162 Within year 3 8,749 Total Minimum Lease Payments 94,189 Interest Expense relating to future periods (9,102 ) Present Value of minimum lease payments 85,087 Less: Current portion (38,055 ) Non-Current portion $ 47,032 Following is the aggregate future long term debt payments as of March 31, 2022 SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS Amount Loan Payments Within year 1 $ 770,167 Within year 2 63,677 Within year 3 17,190 Total Loan Payments 851,034 Less: Current portion (770,167 ) Non-Current portion $ 80,867 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 16 - STOCKHOLDERS’ EQUITY During the three and nine months ended March 31, 2022, the Company issued nil 1,985 12,009 During the three and nine months ended March 31, 2022, the Company issued 3,000 12,600 During the three and nine months ended March 31, 2022, the Company issued 2,500 and 5,000 shares of common stock for services received from one of its vendors. These shares were valued at the fair market value of $ 9,625 and $ 19,525 , respectively. During the three and nine months ended March 31, 2022, the Company purchased nil 22,510 100,106

SHARE BASED PAYMENTS

SHARE BASED PAYMENTS	9 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE BASED PAYMENTS	NOTE 17 – SHARE BASED PAYMENTS The following table summarizes stock grants awarded as compensation: SUMMARY OF UNVESTED STOCK GRANTS AWARDED AS COMPENSATION # of shares Weighted Average Grant Date Fair Value ($) Unvested, June 30, 2021 6,985 $ 5.75 Granted 3,000 $ 4.20 Vested (4,985 ) $ 4.94 Forfeited / Cancelled - $ - Unvested, March 31, 2022 5,000 $ 5.69 For the three and nine months ended March 31, 2022, the Company recorded compensation expense of $ 19,713 36,941 74,169 239,333 7,112

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 18 – CONTINGENCIES From time to time, the Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business including tax assessments. The Company defends itself vigorously against any such claims. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, the Company records the estimated loss. The Company provides disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. The Company bases accruals on the best information available at the time, which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited)

OPERATING SEGMENTS

OPERATING SEGMENTS	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
OPERATING SEGMENTS	NOTE 19 – OPERATING SEGMENTS The Company has identified three The following table presents a summary of identifiable assets as of March 31, 2022 and June 30, 2021: SUMMARY OF IDENTIFIABLE ASSETS As of As of March 31, 2022 June 30, 2021 Identifiable assets: Corporate headquarters $ 1,765,803 $ 2,067,474 North America 5,653,292 6,073,616 Europe 9,448,659 10,363,611 Asia - Pacific 65,208,505 68,101,560 Consolidated $ 82,076,259 $ 86,606,261 The following table presents a summary of investment under equity method as of March 31, 2022 and June 30, 2021: SUMMARY OF INVESTMENT UNDER EQUITY METHOD As of As of March 31, 2022 June 30, 2021 Investment in associates under equity method: Corporate headquarters $ 337,127 $ 396,403 Asia - Pacific 2,556,573 2,759,449 Consolidated $ 2,893,700 $ 3,155,852 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The following table presents a summary of operating information for the three and nine months ended March 31: SUMMARY OF OPERATING INFORMATION For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Revenues from unaffiliated customers: North America $ 1,113,820 $ 1,008,011 $ 3,104,433 $ 2,837,445 Europe 2,088,918 2,748,945 7,483,911 8,627,042 Asia - Pacific 11,607,088 10,027,040 33,115,205 28,088,347 14,809,826 13,783,996 43,703,549 39,552,834 Revenue from affiliated customers Asia - Pacific - - - - - - - - Consolidated $ 14,809,826 $ 13,783,996 $ 43,703,549 $ 39,552,834 Intercompany revenue Europe $ 105,668 $ 160,970 $ 349,345 $ 426,883 Asia - Pacific 3,104,913 3,810,340 6,439,377 9,094,697 Eliminated $ 3,210,581 $ 3,971,310 $ 6,788,722 $ 9,521,580 Net income (loss) after taxes and before non-controlling interest: Corporate headquarters $ (394,375 ) $ (804,636 ) $ (127,742 ) $ 1,536,305 North America (86,722 ) 57,460 (213,730 ) (271,356 ) Europe (575,533 ) (474,629 ) (973,972 ) 301,472 Asia - Pacific 1,039,158 246,635 4,287,015 (1,497,302 ) Consolidated $ (17,472 ) $ (975,170 ) $ 2,971,571 $ 69,119 Depreciation and amortization: North America $ 451 $ 701 $ 1,544 $ 3,653 Europe 88,987 139,180 288,481 356,117 Asia - Pacific 858,495 891,962 2,579,646 2,536,433 Consolidated $ 947,933 $ 1,031,843 $ 2,869,671 $ 2,896,203 Interest expense: Corporate headquarters $ 8,105 $ 4,647 $ 28,111 $ 15,578 North America - 725 - 2,660 Europe 1,766 4,106 8,050 8,133 Asia - Pacific 76,045 89,178 241,576 269,853 Consolidated $ 85,916 $ 98,656 $ 277,737 $ 296,224 Income tax expense: Corporate headquarters $ - $ - $ 800 $ - North America 400 450 2,000 450 Europe - 18,333 9,524 222,370 Asia - Pacific 157,204 114,373 514,413 420,064 Consolidated $ 157,604 $ 133,156 $ 526,737 $ 642,884 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The following table presents a summary of capital expenditures for the nine months ended March 31: SUMMARY OF CAPITAL EXPENDITURES For the Nine Months Ended March 31, 2022 2021 Capital expenditures: North America $ - $ 1,520 Europe 134,450 388,367 Asia - Pacific 1,546,406 1,719,171 Consolidated $ 1,680,856 $ 2,109,058

NON-CONTROLLING INTEREST IN SUB

NON-CONTROLLING INTEREST IN SUBSIDIARY	9 Months Ended
	Mar. 31, 2022
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: SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at March 31, 2022 NetSol PK 33.88 % $ 6,675,082 NetSol-Innovation 33.88 % 91,961 NetSol Thai 0.006 % (151 ) OTOZ Thai 5.60 % (1,091 ) OTOZ 5.59 % (43,903 ) Total $ 6,721,898 SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2021 NetSol PK 33.88 % $ 7,101,883 NetSol-Innovation 33.88 % 136,611 NetSol Thai 0.006 % (208 ) OTOZ Thai 0.006 % (52 ) OTOZ 5.00 % (22,761 ) Total $ 7,215,473 The Company’s subsidiary, OTOZ, issued 19,633 5.0 5.59 The effective shareholding of the non-controlling interest for OTOZ Thai increased to 5.6

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 21 – INCOME TAXES The current tax provision is based on taxable income for the year determined in accordance with the prevailing law for taxation of income. The charge for tax on income is calculated at the current rates of taxation as applicable after considering tax credit and tax rebates available, if any. We are subject to income taxes in the U.S. and numerous foreign jurisdictions. Our effective tax rate is lower than the U.S. statutory rate primarily because of more earnings realized in countries that have lower statutory tax rates. Our effective tax rate in the future will depend on the portion of our profits earned within and outside the United States. Income from the export of computer software and its related services developed in Pakistan is exempt from tax through June 30, 2025; however, tax at the applicable rates is charged to the income from revenue generated from other than core business activities. During the three and nine months ended March 31, 2022, the Company recorded an income tax provision of $ 157,604 526,737 112.5 15.1 133,156 642,884 15.8 90.3

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The areas requiring significant estimates are provision for doubtful accounts, provision for taxation, useful life of depreciable assets, useful life of intangible assets, contingencies, assumptions used to determine the net present value of operating lease liabilities, and estimated contract costs. The estimates and underlying assumptions are reviewed on an ongoing basis. Actual results could differ from those estimates.
Concentration of Credit Risk	Concentration of Credit Risk Cash includes cash on hand and demand deposits in accounts maintained within the United States as well as in foreign countries. Certain financial instruments, which subject the Company to concentration of credit risk, consist of cash and restricted cash. The Company maintains balances at financial institutions which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for the banks located in the United States. Balances at financial institutions within certain foreign countries are not covered by insurance except balances maintained in China are insured for RMB 500,000 78,864 85,000 111,842 29,315,355 31,662,035 The Company’s operations are carried out globally. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments of each country and by the general state of the country’s economy. The Company’s operations in each foreign country are subject to specific considerations and significant risks not typically associated with companies in economically developed nations. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies the provisions of Accounting Standards Codification (“ASC”) 820-10, “Fair Value Measurements and Disclosures.” The three levels of valuation hierarchy are defined as follows: Level 1: Valuations consist of unadjusted quoted prices in active markets for identical assets and liabilities and has the highest priority. Level 2: Valuations rely on quoted prices in markets that are not active or observable inputs over the full term of the asset or liability. Level 3: Valuations are based on prices or third party or internal valuation models that require inputs that are significant to the fair value measurement and are less observable and thus have the lowest priority. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) The Company’s financial assets that were measured at fair value on a recurring basis as of March 31, 2022, were as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 993,862 $ 993,862 Total $ - $ - $ 993,862 $ 993,862 The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2021, were as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billing - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603 The reconciliation from June 30, 2021 to March 31, 2022 is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603 Amortization during the period - 28,587 28,587 Effect of Translation Adjustment 7,813 (141 ) 7,672 Balance at March 31, 2022 $ 1,032,195 $ (38,333 ) $ 993,862 Management analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity” “Derivatives and Hedging.”
Recent Accounting Standards:	Recent Accounting Standards: Accounting Standards Recently Issued but Not Yet Adopted by the Company: In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. This ASU is effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2021, which for the Company is the first quarter of fiscal 2023, with early adoption permitted beginning in the first quarter of fiscal 2022. The Company is currently assessing the impact and timing of adoption of this ASU. NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. ASU 2021-08 is effective for annual periods beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company does not expect the standard to have a material effect on its consolidated financial statements. All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS	The Company’s financial assets that were measured at fair value on a recurring basis as of March 31, 2022, were as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Total Assets Revenues in excess of billings - long term $ - $ - $ 993,862 $ 993,862 Total $ - $ - $ 993,862 $ 993,862 The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2021, were as follows: Level 1 Level 2 Level 3 Total Assets Revenues in excess of billing - long term $ - $ - $ 957,603 $ 957,603 Total $ - $ - $ 957,603 $ 957,603
SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION	The reconciliation from June 30, 2021 to March 31, 2022 is as follows: SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION Revenues in excess of billings - long term Fair value discount Total Balance at June 30, 2021 $ 1,024,382 $ (66,779 ) $ 957,603 Amortization during the period - 28,587 28,587 Effect of Translation Adjustment 7,813 (141 ) 7,672 Balance at March 31, 2022 $ 1,032,195 $ (38,333 ) $ 993,862

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATED REVENUE BY CATEGORY	The Company’s disaggregated revenue by category is as follows: SCHEDULE OF DISAGGREGATED REVENUE BY CATEGORY 2022 2021 2022 2021 For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Core: License $ 1,620,827 $ 2,120,963 $ 3,586,874 $ 4,710,942 Subscription and support 6,554,540 5,674,776 22,159,798 16,571,441 Services 5,416,635 4,379,316 14,140,429 13,443,629 Services - related party - - - - Total core revenue, net 13,592,002 12,175,055 39,887,101 34,726,012 Non-Core: Services 1,217,824 1,608,941 3,816,448 4,826,822 Total non-core revenue, net 1,217,824 1,608,941 3,816,448 4,826,822 Total net revenue $ 14,809,826 $ 13,783,996 $ 43,703,549 $ 39,552,834
SCHEDULE OF REVENUES IN EXCESS OF BILLINGS AND DEFERRED REVENUE	The Company’s revenues in excess of billings and unearned revenue are as follows: SCHEDULE OF REVENUES IN EXCESS OF BILLINGS AND DEFERRED REVENUE As of As of March 31, 2022 June 30, 2021 Revenues in excess of billings $ 15,604,587 $ 15,637,734 Unearned revenue $ 6,948,669 $ 4,556,626

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
SCHEDULE OF COMPONENTS OF BASIC AND DILUTED EARNINGS PER SHARE	The components of basic and diluted earnings per share were as follows: SCHEDULE OF COMPONENTS OF BASIC AND DILUTED EARNINGS PER SHARE For the three months ended March 31, 2022 For the nine months ended March 31, 2022 Net Loss Shares Per Share Net Income Shares Per Share Basic income (loss) per share: Net income (loss) available to common shareholders $ (278,470 ) 11,249,606 $ (0.02 ) $ 1,316,284 11,249,449 $ 0.12 Effect of dilutive securities Share grants - - - - - - Diluted income (loss) per share $ (278,470 ) 11,249,606 $ (0.02 ) $ 1,316,284 11,249,449 $ 0.12 For the three months ended March 31, 2021 For the nine months ended March 31, 2021 Net Loss Shares Per Share Net Loss Shares Per Share Basic loss per share: Net loss available to common shareholders $ (623,231 ) 11,343,406 $ (0.05 ) $ (147,781 ) 11,571,878 $ (0.01 ) Effect of dilutive securities Share grants - - - - - - Diluted loss per share $ (623,231 ) 11,343,406 $ (0.05 ) $ (147,781 ) 11,571,878 $ (0.01 )

CONVERTIBLE NOTES RECEIVABLE _2

CONVERTIBLE NOTES RECEIVABLE – RELATED PARTY (Tables)	9 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
SCHEDULE OF CONVERTIBLE NOTES	The following table summarizes the convertible notes receivable from WRLD3D. SCHEDULE OF CONVERTIBLE NOTES Convertible Agreement Interest Maturity Note Accrued Date Rate Date Amount Interest May 25, 2017 5 % March 2, 2018 $ 750,000 $ 110,202 February 9, 2018 10 % March 31, 2019 2,500,000 500,773 April 1, 2019 10 % March 31, 2020 600,000 57,648 August 19, 2019 10 % March 31, 2020 400,000 32,439 4,250,000 701,062 Less allowance for doubtful account (4,250,000 ) (701,062 ) Net Balance $ - $ -

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER CURRENT ASSETS	Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS As of As of March 31, 2022 June 30, 2021 Prepaid Expenses $ 1,709,971 $ 1,987,556 Advance Income Tax 379,638 344,699 Employee Advances 112,595 28,816 Security Deposits 252,941 281,464 Other Receivables 93,628 143,258 Other Assets 315,969 223,600 Due From Related Party 1,243,633 1,243,633 Total 4,108,375 4,253,026 Less allowance for doubtful account (1,243,633 ) (1,243,633 ) Net Balance $ 2,864,742 $ 3,009,393

REVENUES IN EXCESS OF BILLING_2

REVENUES IN EXCESS OF BILLINGS – LONG TERM (Tables)	9 Months Ended
	Mar. 31, 2022
Contractors [Abstract]
SCHEDULE OF REVENUE IN EXCESS OF BILLING	Revenues in excess of billings, net consisted of the following: SCHEDULE OF REVENUE IN EXCESS OF BILLING As of As of March 31, 2022 June 30, 2021 Revenues in excess of billings - long term $ 1,032,195 $ 1,024,382 Present value discount (38,333 ) (66,779 ) Net Balance $ 993,862 $ 957,603

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT As of As of March 31, 2022 June 30, 2021 Office Furniture and Equipment $ 3,287,329 $ 3,440,501 Computer Equipment 14,122,850 18,681,991 Assets Under Capital Leases 341,927 1,136,128 Building 5,378,874 6,205,210 Land 1,387,483 1,608,024 Autos 2,244,069 1,770,147 Improvements 191,934 35,592 Subtotal 26,954,466 32,877,593 Accumulated Depreciation (16,840,008 ) (20,785,781 ) Property and Equipment, Net $ 10,114,458 $ 12,091,812
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES	Following is a summary of fixed assets held under finance leases as of March 31, 2022 and June 30, 2021: SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES As of As of March 31, 2022 June 30, 2021 Computers and Other Equipment $ - $ 169,487 Furniture and Fixtures - 57,509 Vehicles 341,927 909,132 Total 341,927 1,136,128 Less: Accumulated Depreciation - Net (149,740 ) (627,119 ) Fixed assets held under finance leases, Total $ 192,187 $ 509,009
SCHEDULE OF FINANCE LEASE TERM	Finance lease term and discount rate were as follows: SCHEDULE OF FINANCE LEASE TERM As of As of March 31, 2022 June 30, 2021 Weighted average remaining lease term - Finance leases 2.18 0.55 Weighted average discount rate - Finance leases 9.7 % 5.6 %

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Mar. 31, 2022
Leases
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE	Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE As of As of March 31, 2022 June 30, 2021 Assets Operating lease assets, net $ 1,238,713 $ 1,345,869 Liabilities Current Operating $ 706,684 $ 857,729 Operating, Current $ 706,684 $ 857,729 Non-current Operating 570,871 564,257 Operating, Non-current 570,871 564,257 Total Lease Liabilities $ 1,277,555 $ 1,421,986
SCHEDULE OF COMPONENTS OF LEASE COST	The components of lease cost were as follows: SCHEDULE OF COMPONENTS OF LEASE COST 2022 2021 2022 2021 For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Amortization of finance lease assets $ 16,273 $ 65,628 $ 59,201 $ 142,807 Interest on finance lease obligation 5,632 6,662 13,780 25,307 Operating lease cost 137,270 319,712 518,048 950,538 Short term lease cost 128,008 33,138 166,789 63,209 Sub lease income (8,907 ) (9,155 ) (27,012 ) (26,517 ) Total lease cost $ 278,276 $ 415,985 $ 730,806 $ 1,155,344
SCHEDULE OF LEASE TERM AND DISCOUNT RATE	Lease term and discount rate were as follows: SCHEDULE OF LEASE TERM AND DISCOUNT RATE As of As of March 31, 2022 June 30, 2021 Weighted average remaining lease term - Operating leases 3.38 1.78 Weighted average discount rate - Operating leases 5.9 % 5.7 %
SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES	Supplemental disclosures of cash flow information related to leases were as follows: SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES 2022 2021 For the Nine Months Ended March 31 2022 2021 Operating cash flows related to operating leases $ 541,705 $ 856,135 Operating cash flows related to finance leases $ 3,553 $ 20,138 Financing cash flows related to finance leases $ 55,399 $ 254,985
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES	Maturities of operating lease liabilities were as follows as of March 31, 2022: SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES Amount Within year 1 $ 742,215 Within year 2 221,799 Within year 3 146,200 Within year 4 131,729 Within year 5 98,977 Thereafter 1,621 Total Lease Payments 1,342,541 Less: Imputed interest (64,986 ) Present Value of lease liabilities 1,277,555 Less: Current portion (706,684 ) Non-Current portion $ 570,871

LONG TERM INVESTMENT (Tables)

LONG TERM INVESTMENT (Tables)	9 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
SCHEDULE OF LONG TERM INVESTMENT	The following table reflects the above investments at March 31, 2022. SCHEDULE OF LONG TERM INVESTMENT Drivemate WRLD3D Total Gross investment $ 1,800,000 $ 3,888,889 $ 5,688,889 Cumulative net loss on investment (94,143 ) (2,184,775 ) (2,278,918 ) Cumulative other comprehensive income (loss) - (516,271 ) (516,271 ) Net investment $ 1,705,857 $ 1,187,843 $ 2,893,700

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS As of As of March 31, 2022 June 30, 2021 Product Licenses - Cost $ 47,244,997 $ 47,244,997 Effect of Translation Adjustment (17,652,591 ) (14,440,001 ) Accumulated Amortization (27,414,278 ) (28,900,340 ) Net Balance $ 2,178,128 $ 3,904,656
SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS	Estimated amortization expense of intangible assets is as follows: SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS Period ended: March 31, 2023 $ 1,587,416 March 31, 2024 590,712 Net Balance $ 2,178,128

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES	Accounts payable and accrued expenses consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES As of As of March 31, 2022 June 30, 2021 Accounts Payable $ 1,791,577 $ 1,067,937 Accrued Liabilities 3,543,428 2,662,666 Accrued Payroll - 1,782,512 Accrued Payroll Taxes 316,355 295,349 Taxes Payable 405,550 608,121 Other Payable 260,217 279,450 Total $ 6,317,127 $ 6,696,035

DEBTS (Tables)

DEBTS (Tables)	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES	Notes payable and finance leases consisted of the following: SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES As of March 31, 2022 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 186,395 $ 186,395 $ - Bank Overdraft Facility (2) - - - Term Finance Facility (3) 711,264 711,264 - Loan Payable Bank - Export Refinance (4) 2,728,811 2,728,811 - Loan Payable Bank - Running Finance (5) - - - Loan Payable Bank - Export Refinance II (6) 2,073,896 2,073,896 - Loan Payable Bank - Running Finance II (7) - - - Loan Payable Bank - Export Refinance III (8) 3,820,335 3,820,335 - Sale and Leaseback Financing (9) 101,342 39,417 61,925 Term Finance Facility (10) 38,428 19,486 18,942 Insurance Financing (11) 5,010 5,010 - 9,665,481 9,584,614 80,867 Subsidiary Finance Leases (12) 85,087 38,055 47,032 $ 9,750,568 $ 9,622,669 $ 127,899 As of June 30, 2021 Current Long-Term Name Total Maturities Maturities D&O Insurance (1) $ 73,143 $ 73,143 $ - Bank Overdraft Facility (2) - - - Term Finance Facility (3) 1,648,818 1,090,259 558,559 Loan Payable Bank - Export Refinance (4) 3,162,555 3,162,555 - Loan Payable Bank - Running Finance (5) - - - Loan Payable Bank - Export Refinance II (6) 2,403,542 2,403,542 - Loan Payable Bank - Running Finance II (7) - - - Loan Payable Bank - Export Refinance III (8) 4,427,578 4,427,578 - Sale and Leaseback Financing (9) 85,313 28,183 57,130 Term Finance Facility (10) 55,182 19,644 35,538 Insurance Financing (11) 41,774 41,774 - 11,897,905 11,246,678 651,227 Subsidiary Finance Leases (12) 168,107 119,493 48,614 $ 12,066,012 $ 11,366,171 $ 699,841 (1) The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings were ranging from 5.0 7.0 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) (2) The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £ 300,000 394,737 5.12 Nil This overdraft facility requires that the aggregate amount of invoiced trade debtors (net of provisions for bad and doubtful debts and excluding intra-group debtors) of NTE, not exceeding 90 days old, will not be less than an amount equal to 200 (3) The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 pandemic. This is a term loan payable in three years. The availed facility amount was Rs. 130,324,892 711,264 260,678,818 1,648,818 1,090,259 558,559 3 (4) The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 500,000,000 2,728,811 500,000,000 3,162,555 3 (5) The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 75,000,000 409,322 Nil 14.0 9.5 This facility requires NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1 (6) The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 380,000,000 2,073,896 380,000,000 2,403,542 3 (7) The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 120,000,000 654,915 120,000,000 759,013 13.5 9.0 Nil During the tenure of the loan, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times (8) The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 900,000,000 4,911,859 900,000,000 5,692,600 700,000,000 3,820,335 700,000,000 4,427,578 3 (9) The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of March 31, 2022, NetSol PK used Rs. 18,568,847 101,342 61,925 39,417 13,487,949 85,313 57,130 28,183 9.0 NETSOL TECHNOLOGIES, INC. Notes to Condensed Consolidated Financial Statements March 31, 2022 (Unaudited) (10) In March 2019, the Company’s subsidiary, VLS, entered into a loan agreement. The loan amount was £ 69,549 91,512 1,349 1,775 34,428 18,942 19,486 55,182 35,538 19,644 6.14 (11) The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $ 5,011 41,774 9.7 12.7 9.7 (12) The Company leases various fixed assets under finance lease arrangements expiring in various years through 2024. The assets and liabilities under finance leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under finance leases is included in depreciation expense for the three and nine months ended March 31, 2022 and 2021.
SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES	Following is the aggregate minimum future lease payments under finance leases as of March 31, 2022: SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES Amount Minimum Lease Payments Within year 1 $ 44,278 Within year 2 41,162 Within year 3 8,749 Total Minimum Lease Payments 94,189 Interest Expense relating to future periods (9,102 ) Present Value of minimum lease payments 85,087 Less: Current portion (38,055 ) Non-Current portion $ 47,032
SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS	Following is the aggregate future long term debt payments as of March 31, 2022 SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS Amount Loan Payments Within year 1 $ 770,167 Within year 2 63,677 Within year 3 17,190 Total Loan Payments 851,034 Less: Current portion (770,167 ) Non-Current portion $ 80,867

SHARE BASED PAYMENTS (Tables)

SHARE BASED PAYMENTS (Tables)	9 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
SUMMARY OF UNVESTED STOCK GRANTS AWARDED AS COMPENSATION	The following table summarizes stock grants awarded as compensation: SUMMARY OF UNVESTED STOCK GRANTS AWARDED AS COMPENSATION # of shares Weighted Average Grant Date Fair Value ($) Unvested, June 30, 2021 6,985 $ 5.75 Granted 3,000 $ 4.20 Vested (4,985 ) $ 4.94 Forfeited / Cancelled - $ - Unvested, March 31, 2022 5,000 $ 5.69

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SUMMARY OF IDENTIFIABLE ASSETS	The following table presents a summary of identifiable assets as of March 31, 2022 and June 30, 2021: SUMMARY OF IDENTIFIABLE ASSETS As of As of March 31, 2022 June 30, 2021 Identifiable assets: Corporate headquarters $ 1,765,803 $ 2,067,474 North America 5,653,292 6,073,616 Europe 9,448,659 10,363,611 Asia - Pacific 65,208,505 68,101,560 Consolidated $ 82,076,259 $ 86,606,261
SUMMARY OF INVESTMENT UNDER EQUITY METHOD	The following table presents a summary of investment under equity method as of March 31, 2022 and June 30, 2021: SUMMARY OF INVESTMENT UNDER EQUITY METHOD As of As of March 31, 2022 June 30, 2021 Investment in associates under equity method: Corporate headquarters $ 337,127 $ 396,403 Asia - Pacific 2,556,573 2,759,449 Consolidated $ 2,893,700 $ 3,155,852
SUMMARY OF OPERATING INFORMATION	The following table presents a summary of operating information for the three and nine months ended March 31: SUMMARY OF OPERATING INFORMATION For the Three Months For the Nine Months Ended March 31, Ended March 31, 2022 2021 2022 2021 Revenues from unaffiliated customers: North America $ 1,113,820 $ 1,008,011 $ 3,104,433 $ 2,837,445 Europe 2,088,918 2,748,945 7,483,911 8,627,042 Asia - Pacific 11,607,088 10,027,040 33,115,205 28,088,347 14,809,826 13,783,996 43,703,549 39,552,834 Revenue from affiliated customers Asia - Pacific - - - - - - - - Consolidated $ 14,809,826 $ 13,783,996 $ 43,703,549 $ 39,552,834 Intercompany revenue Europe $ 105,668 $ 160,970 $ 349,345 $ 426,883 Asia - Pacific 3,104,913 3,810,340 6,439,377 9,094,697 Eliminated $ 3,210,581 $ 3,971,310 $ 6,788,722 $ 9,521,580 Net income (loss) after taxes and before non-controlling interest: Corporate headquarters $ (394,375 ) $ (804,636 ) $ (127,742 ) $ 1,536,305 North America (86,722 ) 57,460 (213,730 ) (271,356 ) Europe (575,533 ) (474,629 ) (973,972 ) 301,472 Asia - Pacific 1,039,158 246,635 4,287,015 (1,497,302 ) Consolidated $ (17,472 ) $ (975,170 ) $ 2,971,571 $ 69,119 Depreciation and amortization: North America $ 451 $ 701 $ 1,544 $ 3,653 Europe 88,987 139,180 288,481 356,117 Asia - Pacific 858,495 891,962 2,579,646 2,536,433 Consolidated $ 947,933 $ 1,031,843 $ 2,869,671 $ 2,896,203 Interest expense: Corporate headquarters $ 8,105 $ 4,647 $ 28,111 $ 15,578 North America - 725 - 2,660 Europe 1,766 4,106 8,050 8,133 Asia - Pacific 76,045 89,178 241,576 269,853 Consolidated $ 85,916 $ 98,656 $ 277,737 $ 296,224 Income tax expense: Corporate headquarters $ - $ - $ 800 $ - North America 400 450 2,000 450 Europe - 18,333 9,524 222,370 Asia - Pacific 157,204 114,373 514,413 420,064 Consolidated $ 157,604 $ 133,156 $ 526,737 $ 642,884
SUMMARY OF CAPITAL EXPENDITURES	The following table presents a summary of capital expenditures for the nine months ended March 31: SUMMARY OF CAPITAL EXPENDITURES For the Nine Months Ended March 31, 2022 2021 Capital expenditures: North America $ - $ 1,520 Europe 134,450 388,367 Asia - Pacific 1,546,406 1,719,171 Consolidated $ 1,680,856 $ 2,109,058

NON-CONTROLLING INTEREST IN S_2

NON-CONTROLLING INTEREST IN SUBSIDIARY (Tables)	9 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST	The Company had non-controlling interests in several of its subsidiaries. The balance of non-controlling interest was as follows: SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at March 31, 2022 NetSol PK 33.88 % $ 6,675,082 NetSol-Innovation 33.88 % 91,961 NetSol Thai 0.006 % (151 ) OTOZ Thai 5.60 % (1,091 ) OTOZ 5.59 % (43,903 ) Total $ 6,721,898 SUBSIDIARY Non-Controlling Interest % Non-Controlling Interest at June 30, 2021 NetSol PK 33.88 % $ 7,101,883 NetSol-Innovation 33.88 % 136,611 NetSol Thai 0.006 % (208 ) OTOZ Thai 0.006 % (52 ) OTOZ 5.00 % (22,761 ) Total $ 7,215,473

SCHEDULE OF FAIR VALUE OF FINAN

SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Revenues in excess of billings - long term	$ 993,862	$ 957,603
Total	993,862	957,603
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Revenues in excess of billings - long term
Total
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Revenues in excess of billings - long term
Total
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Revenues in excess of billings - long term	993,862	957,603
Total	$ 993,862	$ 957,603

SCHEDULE OF FAIR VALUE OF FIN_2

SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION (Details)	9 Months Ended
	Mar. 31, 2022USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 957,603
Amortization during the period	28,587
Effect of Translation Adjustment	7,672
Ending balance	993,862
Revenue in Excess of Billing Long Term [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	1,024,382
Amortization during the period
Effect of Translation Adjustment	7,813
Ending balance	1,032,195
Fair Value Discount [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	(66,779)
Amortization during the period	28,587
Effect of Translation Adjustment	(141)
Ending balance	$ (38,333)

ACCOUNTING POLICIES (Details Na

ACCOUNTING POLICIES (Details Narrative)	Mar. 31, 2022USD ($)	Mar. 31, 2022CNY (¥)	Mar. 31, 2022GBP (£)	Jun. 30, 2021USD ($)
Uninsured deposits related to cash deposits	$ 29,315,355			$ 31,662,035
CHINA
Cash, FDIC insured amount	78,864	¥ 500,000
UNITED KINGDOM
Cash, FDIC insured amount	$ 111,842		£ 85,000

SCHEDULE OF DISAGGREGATED REVEN

SCHEDULE OF DISAGGREGATED REVENUE BY CATEGORY (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total net revenue	$ 14,809,826	$ 13,783,996	$ 43,703,549	$ 39,552,834
License [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	1,620,827	2,120,963	3,586,874	4,710,942
Subscription and Support [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	6,554,540	5,674,776	22,159,798	16,571,441
Service [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	6,634,459	5,988,257	17,956,877	18,270,451
Core Revenue [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	13,592,002	12,175,055	39,887,101	34,726,012
Core Revenue [Member] | License [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	1,620,827	2,120,963	3,586,874	4,710,942
Core Revenue [Member] | Subscription and Support [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	6,554,540	5,674,776	22,159,798	16,571,441
Core Revenue [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	5,416,635	4,379,316	14,140,429	13,443,629
Core Revenue [Member] | Service Related Party [Member]
Disaggregation of Revenue [Line Items]
Total net revenue
Non Core Revenue [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	1,217,824	1,608,941	3,816,448	4,826,822
Non Core Revenue [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net revenue	$ 1,217,824	$ 1,608,941	$ 3,816,448	$ 4,826,822

SCHEDULE OF REVENUES IN EXCESS

SCHEDULE OF REVENUES IN EXCESS OF BILLINGS AND DEFERRED REVENUE (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues in excess of billings	$ 15,604,587	$ 15,637,734
Unearned revenue	$ 6,948,669	$ 4,556,626

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative) - USD ($)	6 Months Ended	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue, revenue recognized		$ 3,282,962
Contracted but unsatisfied performance obligations		43,389,621
Contracted but unsatisfied performance obligations, next twelve months		$ 15,344,251
Estimated revenue recognized term	6 years

SCHEDULE OF COMPONENTS OF BASIC

SCHEDULE OF COMPONENTS OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income (loss) available to common shareholders, Net loss	$ (278,470)	$ (623,231)	$ 1,316,284	$ (147,781)
Net income (loss) available to common shareholders, Shares	11,249,606	11,343,406	11,249,449	11,571,878
Net income (loss) available to common shareholders, Per share	$ (0.02)	$ (0.05)	$ 0.12	$ (0.01)
Effect of dilutive securities Share grants, Shares
Diluted income (loss) per share, Net loss	$ (278,470)	$ (623,231)	$ 1,316,284	$ (147,781)
Diluted income (loss) per share, Shares	11,249,606	11,343,406	11,249,449	11,571,878
Diluted income (loss) per share, Per share	$ (0.02)	$ (0.05)	$ 0.12	$ (0.01)

EARNINGS PER SHARE (Details Nar

EARNINGS PER SHARE (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded of earnings per share amount	5,000	30,699	30,699

OTHER COMPREHENSIVE INCOME AN_2

OTHER COMPREHENSIVE INCOME AND FOREIGN CURRENCY (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Other Comprehensive Income And Foreign Currency
Accumulated other comprehensive loss	$ 36,740,406		$ 36,740,406		$ 31,868,481
Net translation adjustment	$ (1,804,777)	$ 941,353	$ (4,871,925)	$ 2,966,249

MAJOR CUSTOMERS (Details Narrat

MAJOR CUSTOMERS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Concentration Risk [Line Items]
Revenue	$ 14,809,826	$ 13,783,996	$ 43,703,549	$ 39,552,834
Revenues in excess of billings	14,610,725		14,610,725		$ 14,680,131
Daimler Financial Services [Member]
Concentration Risk [Line Items]
Revenues in excess of billings	1,252,548		1,252,548		2,041,750
BMW Financial (BMW) [Member]
Concentration Risk [Line Items]
Revenues in excess of billings	3,696,816		$ 3,696,816		4,453,299
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Daimler Financial Services [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			35.90%	19.60%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | BMW Financial (BMW) [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			7.30%	10.90%
Accounts Receivable [Member] | Daimler Financial Services [Member]
Concentration Risk [Line Items]
Accounts receivable, gross	3,168,260		$ 3,168,260		462,861
Accounts Receivable [Member] | BMW Financial (BMW) [Member]
Concentration Risk [Line Items]
Accounts receivable, gross	$ 305,321		305,321		$ 35,063
Daimler Financial Services [Member]
Concentration Risk [Line Items]
Revenue			15,692,171	$ 7,763,189
BMW Financial (BMW) [Member]
Concentration Risk [Line Items]
Revenue			$ 3,203,536	$ 4,295,139

SCHEDULE OF CONVERTIBLE NOTES (

SCHEDULE OF CONVERTIBLE NOTES (Details) - USD ($)	Aug. 19, 2019	Apr. 01, 2019	Feb. 09, 2018	May 25, 2017	Mar. 31, 2022	Jun. 30, 2021
Receivables [Abstract]
Interest Rate	10.00%	10.00%	10.00%	5.00%
Maturity Date	Mar. 31, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 2, 2018
Convertible Note Amount	$ 400,000	$ 600,000	$ 2,500,000	$ 750,000	$ 4,250,000
Accrued Interest	$ 32,439	$ 57,648	$ 500,773	$ 110,202	701,062	$ 701,062
Less allowance for doubtful account					(4,250,000)
Less allowance for doubtful account, Accrued Interest					(701,062)
Net Balance
Net Balance, Accrued Interest

CONVERTIBLE NOTES RECEIVABLE _3

CONVERTIBLE NOTES RECEIVABLE – RELATED PARTY (Details Narrative) - USD ($)	Mar. 31, 2022	Jun. 30, 2021	Aug. 19, 2019	Apr. 01, 2019	Feb. 09, 2018	May 25, 2017
Defined Benefit Plan Disclosure [Line Items]
Convertible note, interest rate			10.00%	10.00%	10.00%	5.00%
Accrued interest	$ 701,062	$ 701,062	$ 32,439	$ 57,648	$ 500,773	$ 110,202
WRLD3D [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible note, interest rate	5.00%
WRLD3D [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible note, interest rate	1000.00%

SCHEDULE OF OTHER CURRENT ASSET

SCHEDULE OF OTHER CURRENT ASSETS (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses	$ 1,709,971	$ 1,987,556
Advance Income Tax	379,638	344,699
Employee Advances	112,595	28,816
Security Deposits	252,941	281,464
Other Receivables	93,628	143,258
Other Assets	315,969	223,600
Due From Related Party	1,243,633	1,243,633
Total	4,108,375	4,253,026
Less allowance for doubtful account	(1,243,633)	(1,243,633)	$ (1,243,633)
Net Balance	$ 2,864,742	$ 3,009,393	$ 3,009,393

OTHER CURRENT ASSETS (Details N

OTHER CURRENT ASSETS (Details Narrative) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Allowance for credit loss	$ 208,547	$ 166,231
WRLD3D [Member]
Defined Benefit Plan Disclosure [Line Items]
Allowance for credit loss	$ 0

SCHEDULE OF REVENUE IN EXCESS O

SCHEDULE OF REVENUE IN EXCESS OF BILLING (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Contractors [Abstract]
Revenues in excess of billings - long term	$ 1,032,195	$ 1,024,382
Present value discount	(38,333)	(66,779)
Net Balance	$ 993,862	$ 957,603

REVENUES IN EXCESS OF BILLING_3

REVENUES IN EXCESS OF BILLINGS – LONG TERM (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Construction Contractor, Receivable, after Year One, Interest Rate [Line Items]
Interest income	$ 9,546	$ 2,331	$ 28,587	$ 44,157
Minimum [Member]
Construction Contractor, Receivable, after Year One, Interest Rate [Line Items]
Interest rate discount			465.00%
Maximum [Member]
Construction Contractor, Receivable, after Year One, Interest Rate [Line Items]
Interest rate discount			625.00%

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 26,954,466	$ 32,877,593
Accumulated Depreciation	(16,840,008)	(20,785,781)
Property and Equipment, Net	10,114,458	12,091,812
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	3,287,329	3,440,501
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	14,122,850	18,681,991
Assets Held under Capital Leases [Member]
Property, Plant and Equipment [Line Items]
Subtotal	341,927	1,136,128
Building [Member]
Property, Plant and Equipment [Line Items]
Subtotal	5,378,874	6,205,210
Land [Member]
Property, Plant and Equipment [Line Items]
Subtotal	1,387,483	1,608,024
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Subtotal	2,244,069	1,770,147
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Subtotal	$ 191,934	$ 35,592

SUMMARY OF FIXED ASSETS HELD UN

SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Total	$ 341,927	$ 1,136,128
Less: Accumulated Depreciation - Net	(149,740)	(627,119)
Fixed assets held under finance leases, Total	192,187	509,009
Computers And Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Total		169,487
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total		57,509
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total	$ 341,927	$ 909,132

SCHEDULE OF FINANCE LEASE TERM

SCHEDULE OF FINANCE LEASE TERM (Details)	Mar. 31, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Weighted average remaining lease term - Finance leases	2 years 2 months 4 days	6 months 18 days
Weighted average discount rate - Finance leases	9.70%	5.60%

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 540,822	$ 575,855	$ 1,608,007	$ 1,557,578
Depreciation reflected in cost of revenues	$ 334,476	$ 303,780	$ 974,526	$ 842,141

SCHEDULE OF BALANCE SHEET INFOR

SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Leases
Operating lease assets, net	$ 1,238,713	$ 1,345,869
Operating, Current	706,684	857,729
Operating, Non-current	570,871	564,257
Total Lease Liabilities	$ 1,277,555	$ 1,421,986

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE COST (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Leases
Amortization of finance lease assets	$ 16,273	$ 65,628	$ 59,201	$ 142,807
Interest on finance lease obligation	5,632	6,662	13,780	25,307
Operating lease cost	137,270	319,712	518,048	950,538
Short term lease cost	128,008	33,138	166,789	63,209
Sub lease income	(8,907)	(9,155)	(27,012)	(26,517)
Total lease cost	$ 278,276	$ 415,985	$ 730,806	$ 1,155,344

SCHEDULE OF LEASE TERM AND DISC

SCHEDULE OF LEASE TERM AND DISCOUNT RATE (Details)	Mar. 31, 2022	Jun. 30, 2021
Leases
Weighted average remaining lease term - Operating leases	3 years 4 months 17 days	1 year 9 months 10 days
Weighted average discount rate - Operating leases	5.90%	5.70%

SCHEDULE OF SUPPLEMENTAL DISCLO

SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($)	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases
Operating cash flows related to operating leases	$ 541,705	$ 856,135
Operating cash flows related to finance leases	3,553	20,138
Financing cash flows related to finance leases	$ 55,399	$ 254,985

SCHEDULE OF MATURITIES OF OPERA

SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Leases
Within year 1	$ 742,215
Within year 2	221,799
Within year 3	146,200
Within year 4	131,729
Within year 5	98,977
Thereafter	1,621
Total Lease Payments	1,342,541
Less: Imputed interest	(64,986)
Present Value of lease liabilities	1,277,555	$ 1,421,986
Less: Current portion	(706,684)	(857,729)
Non-Current portion	$ 570,871	$ 564,257

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Lease Agreement [Member]
Operating lease income	$ 8,907	$ 9,155	$ 27,012	$ 26,517
Minimum [Member]
Finance lease term	1 year		1 year
Operating lease term	1 year		1 year
Maximum [Member]
Finance lease term	10 years		10 years
Operating lease term	10 years		10 years

SCHEDULE OF LONG TERM INVESTMEN

SCHEDULE OF LONG TERM INVESTMENT (Details)	9 Months Ended
	Mar. 31, 2022USD ($)
Gross investment	$ 5,688,889
Cumulative net loss on investment	(2,278,918)
Cumulative other comprehensive income (loss)	(516,271)
Net investment	2,893,700
Drive Mate [Member]
Gross investment	1,800,000
Cumulative net loss on investment	(94,143)
Cumulative other comprehensive income (loss)
Net investment	1,705,857
WRLD 3D Inc [Member]
Gross investment	3,888,889
Cumulative net loss on investment	(2,184,775)
Cumulative other comprehensive income (loss)	(516,271)
Net investment	$ 1,187,843

LONG TERM INVESTMENT (Details N

LONG TERM INVESTMENT (Details Narrative) - USD ($)	Apr. 25, 2019	Sep. 01, 2017	Mar. 02, 2017	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Share of net income loss from equity investment				$ (76,798)	$ (80,953)	$ (317,581)	$ (232,488)
Payments to acquire investment							155,500
WRLD3D [Member]
Payments for financial interest			$ 1,111,111
Payments to acquire investment		$ 555,555	$ 555,556
WRLD3D [Member]
Percentage of interest in subsidiary			4.90%
NetSol PK [Member]
Revenue from services				0	0	0	0
Share of net income loss from equity investment				81,510	80,953	263,388	236,407
Payments to acquire investment		$ 2,777,778
Purchase of investment, percentage		12.20%
Accounts receivable				1,373,099		1,373,099
Revenues in excess of billings - related party				8,163		$ 8,163
Drivemate agreement [Member] | Drivemate co ltd [Member]
Debt instrument, description						Pursuant to the agreement, the number of shares to be issued is adjusted as necessary to result in an equity ownership equal to 30% of the issued and outstanding shares at the final payment date. As of March 31, 2022, the Company has been issued 8,178 shares equal to 30% of Drivemate. Per the Drivemate Agreement, the Company appointed two directors to the Drivemate board. The Company determined that it met the significant influence criteria since two of the four directors are appointed by the Company and the Company owns 30% of Drivemate; therefore, the Company accounts for the investment using the equity method of accounting.
Revenue from services					0	$ 12,528	0
Share of net income loss from equity investment				$ 4,712		$ 54,193	$ 3,919
Drivemate agreement [Member] | Drivemate co ltd [Member]
Equity interest, percentage	30.00%
Number of shares purchased	5,469
Number of shares purchased, value	$ 1,800,000
Drivemate agreement [Member] | Drivemate co ltd [Member] | Service [Member]
Number of shares purchased, value	1,300,000
Drivemate agreement [Member] | Drivemate co ltd [Member] | Service [Member] | Payment [Member]
Number of shares purchased, value	1,300,000
Drivemate agreement [Member] | Drivemate co ltd [Member] | Cash [Member]
Number of shares purchased, value	500,000
Drivemate agreement [Member] | Drivemate co ltd [Member] | Cash [Member] | Payment [Member]
Number of shares purchased, value	$ 500,000

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Product Licenses - Cost	$ 47,244,997	$ 47,244,997
Effect of Translation Adjustment	(17,652,591)	(14,440,001)
Accumulated Amortization	(27,414,278)	(28,900,340)
Net Balance	$ 2,178,128	$ 3,904,656

SUMMARY OF ESTIMATED AMORTIZATI

SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
March 31, 2023	$ 1,587,416
March 31, 2024	590,712
Net Balance	$ 2,178,128	$ 3,904,656

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 2,178,128		$ 2,178,128		$ 3,904,656
Product Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	2,178,128		$ 2,178,128
Finite-lived intangible assets, amortization over period			1 year 6 months
Amortization expenses of intangible assets	$ 407,111	$ 455,988	$ 1,261,664	$ 1,338,625

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Payables and Accruals [Abstract]
Accounts Payable	$ 1,791,577	$ 1,067,937
Accrued Liabilities	3,543,428	2,662,666
Accrued Payroll		1,782,512
Accrued Payroll Taxes	316,355	295,349
Taxes Payable	405,550	608,121
Other Payable	260,217	279,450
Total	$ 6,317,127	$ 6,696,035

SCHEDULE OF COMPONENTS OF NOTES

SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES (Details) - USD ($)		Mar. 31, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Total		$ 9,665,481	$ 11,897,905
Current Maturities		9,584,614	11,246,678
Long-Term Maturities		80,867	651,227
Subsidiary Finance Leases, Total	[1]	85,087	168,107
Subsidiary Finance Leases, Current Maturities	[1]	38,055	119,493
Subsidiary Finance Leases, Long-Term Maturities	[1]	47,032	48,614
Total		9,750,568	12,066,012
Current Maturities		9,622,669	11,366,171
Long-Term Maturities		127,899	699,841
D And O Insurance [Member]
Debt Instrument [Line Items]
Total	[2]	186,395	73,143
Current Maturities	[2]	186,395	73,143
Long-Term Maturities	[2]
Bank Overdraft Facility [Member]
Debt Instrument [Line Items]
Total	[3]
Current Maturities	[3]
Long-Term Maturities	[3]
Term Finance Facility [Member]
Debt Instrument [Line Items]
Total	[4]	711,264	1,648,818
Current Maturities	[4]	711,264	1,090,259
Long-Term Maturities	[4]		558,559
Loan Payable Bank One [Member]
Debt Instrument [Line Items]
Total	[5]	2,728,811	3,162,555
Current Maturities	[5]	2,728,811	3,162,555
Long-Term Maturities	[5]
Loan Payable Bank Two [Member]
Debt Instrument [Line Items]
Total	[6]
Current Maturities	[6]
Long-Term Maturities	[6]
Loan Payable Bank Three [Member]
Debt Instrument [Line Items]
Total	[7]	2,073,896	2,403,542
Current Maturities	[7]	2,073,896	2,403,542
Long-Term Maturities	[7]
Loan Payable Bank Four [Member]
Debt Instrument [Line Items]
Total	[8]
Current Maturities	[8]
Long-Term Maturities	[8]
Loan Payable Bank Five [Member]
Debt Instrument [Line Items]
Total	[9]	3,820,335	4,427,578
Current Maturities	[9]	3,820,335	4,427,578
Long-Term Maturities	[9]
Sale and Lease Back Financing [Member]
Debt Instrument [Line Items]
Total	[10]	101,342	85,313
Current Maturities	[10]	39,417	28,183
Long-Term Maturities	[10]	61,925	57,130
Term Finance Facility One [Member]
Debt Instrument [Line Items]
Total	[11]	38,428	55,182
Current Maturities	[11]	19,486	19,644
Long-Term Maturities	[11]	18,942	35,538
Insurance Financing [Member]
Debt Instrument [Line Items]
Total	[12]	5,010	41,774
Current Maturities	[12]	5,010	41,774
Long-Term Maturities	[12]
[1]	The Company leases various fixed assets under finance lease arrangements expiring in various years through 2024. The assets and liabilities under finance leases are recorded at the lower of the present value of the minimum lease payments or the fair value of the asset. The assets are secured by the assets themselves. Depreciation of assets under finance leases is included in depreciation expense for the three and nine months ended March 31, 2022 and 2021.
[2]	The Company finances Directors’ and Officers’ (“D&O”) liability insurance and Errors and Omissions (“E&O”) liability insurance, for which the D&O and E&O balances are renewed on an annual basis and, as such, are recorded in current maturities. The interest rate on these financings were ranging from 5.0 7.0
[3]	The Company’s subsidiary, NTE, has an overdraft facility with HSBC Bank plc whereby the bank would cover any overdrafts up to £ 300,000 394,737 5.12 Nil
[4]	The Company’s subsidiary, NetSol PK, has a term finance facility from Askari Bank Limited, approved by the Government of Pakistan to protect the employment situation during the COVID-19 pandemic. This is a term loan payable in three years. The availed facility amount was Rs. 130,324,892 711,264 260,678,818 1,648,818 1,090,259 558,559 3
[5]	The Company’s subsidiary, NetSol PK, has an export refinance facility with Askari Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 500,000,000 2,728,811 500,000,000 3,162,555 3
[6]	The Company’s subsidiary, NetSol PK, has a running finance facility with Askari Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 75,000,000 409,322 Nil 14.0 9.5
[7]	The Company’s subsidiary, NetSol PK, has an export refinance facility with Samba Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 380,000,000 2,073,896 380,000,000 2,403,542 3
[8]	The Company’s subsidiary, NetSol PK, has a running finance facility with Samba Bank Limited, secured by NetSol PK’s assets. The total facility amount is Rs. 120,000,000 654,915 120,000,000 759,013 13.5 9.0 Nil
[9]	The Company’s subsidiary, NetSol PK, has an export refinance facility with Habib Metro Bank Limited, secured by NetSol PK’s assets. This is a revolving loan that matures every nine months. The total facility amount is Rs. 900,000,000 4,911,859 900,000,000 5,692,600 700,000,000 3,820,335 700,000,000 4,427,578 3
[10]	The Company’s subsidiary, NetSol PK, availed sale and leaseback financing from First Habib Modaraba secured by the transfer of the vehicles’ title. As of March 31, 2022, NetSol PK used Rs. 18,568,847 101,342 61,925 39,417 13,487,949 85,313 57,130 28,183 9.0
[11]	In March 2019, the Company’s subsidiary, VLS, entered into a loan agreement. The loan amount was £ 69,549 91,512 1,349 1,775 34,428 18,942 19,486 55,182 35,538 19,644 6.14
[12]	The Company’s subsidiary, VLS, finances Directors’ and Officers’ (“D&O”) liability insurance, and the $ 5,011 41,774 9.7 12.7 9.7

SCHEDULE OF COMPONENTS OF NOT_2

SCHEDULE OF COMPONENTS OF NOTES PAYABLE AND CAPITAL LEASES (Details) (Parenthetical)	Mar. 31, 2019USD ($)	Mar. 31, 2019GBP (£)	Mar. 31, 2022USD ($)	Mar. 31, 2022INR (₨)	Mar. 31, 2022GBP (£)	Jun. 30, 2021USD ($)	Jun. 30, 2021INR (₨)	Jun. 30, 2021GBP (£)	Aug. 19, 2019	Apr. 01, 2019	Mar. 31, 2019GBP (£)	Feb. 09, 2018	May 25, 2017
Line of Credit Facility [Line Items]
Debt instrument, interest rate									10.00%	10.00%		10.00%	5.00%
Long term liabilities			$ 851,034
Virtual Lease Services Limited [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 34,428			$ 55,182
Debt instrument, interest rate			6.14%	6.14%	6.14%	6.14%	6.14%	6.14%
Line of credit, current			$ 19,486			$ 19,644
Long term liabilities			18,942			$ 35,538
Virtual Lease Services Limited [Member] | Loan Agreement [Member] | Investec Asset Finance [Member]
Line of Credit Facility [Line Items]
Balance outstanding | £											£ 69,549
Line of credit monthly payments | £		£ 1,349
Virtual Lease Services Limited [Member] | Insurance Financing [Member] | Directors and Officers [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate						9.70%	9.70%	9.70%
Line of credit, current			5,011			$ 41,774
Virtual Lease Services Limited [Member] | GBP [Member] | Loan Agreement [Member] | Investec Asset Finance [Member]
Line of Credit Facility [Line Items]
Balance outstanding	$ 91,512
Line of credit monthly payments	$ 1,775
HSBC Bank [Member] | NetSol PK Asia - Pacific [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 394,737		£ 300,000
Debt instrument, interest rate			5.12%	5.12%	5.12%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			200.00%
HSBC Bank [Member] | NetSol PK Asia - Pacific [Member] | GBP [Member]
Line of Credit Facility [Line Items]
Balance outstanding | £
Askari Bank Limited [Member] | NetSol PK [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 2,728,811	₨ 500,000,000		$ 3,162,555	₨ 500,000,000
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
Askari Bank Limited [Member] | NetSol PK [Member] | Refinance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 711,264	₨ 130,324,892		$ 1,648,818	₨ 260,678,818
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
Line of credit, current						$ 1,090,259
Line of credit, long term						$ 558,559
Askari Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 409,322	₨ 75,000,000
Debt instrument, interest rate			14.00%	14.00%	14.00%	9.50%	9.50%	9.50%
Balance outstanding | ₨
Debt instrument covenant description			This facility requires NetSol PK to maintain a long-term debt equity ratio of 60:40 and the current ratio of 1:1
Samba Bank Limited [Member] | NetSol PK [Member] | Refinance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 2,073,896	₨ 380,000,000		$ 2,403,542	₨ 380,000,000
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
Samba Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 654,915	₨ 120,000,000		$ 759,013	₨ 120,000,000
Debt instrument, interest rate			13.50%	13.50%	13.50%	9.00%	9.00%	9.00%
Balance outstanding | ₨
Debt instrument covenant description			During the tenure of the loan, the facilities from Samba Bank Limited require NetSol PK to maintain at a minimum a current ratio of 1:1, an interest coverage ratio of 4 times, a leverage ratio of 2 times, and a debt service coverage ratio of 4 times
Habib Metro Bank Limited [Member] | Running Finance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 4,911,859	900,000,000		$ 5,692,600	900,000,000
Habib Metro Bank Limited [Member] | NetSol PK [Member] | Running Finance Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 3,820,335	₨ 700,000,000		$ 4,427,578	₨ 700,000,000
Debt instrument, interest rate			3.00%	3.00%	3.00%	3.00%	3.00%	3.00%
Habib Metro Bank Limited [Member] | NetSol PK [Member] | Sale and Lease Back Financing [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 101,342	₨ 18,568,847		$ 85,313	₨ 13,487,949
Debt instrument, interest rate			9.00%	9.00%	9.00%	9.00%	9.00%	9.00%
Line of credit, current			$ 39,417			$ 28,183
Line of credit, long term			$ 61,925			$ 57,130
Minimum [Member] | Virtual Lease Services Limited [Member] | Insurance Financing [Member] | Directors and Officers [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate			9.70%	9.70%	9.70%
Maximum [Member] | Virtual Lease Services Limited [Member] | Insurance Financing [Member] | Directors and Officers [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate			12.70%	12.70%	12.70%
Directors and Officers and Error and Omissions Liability Insurance [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Line of credit facility interest rate			5.00%	5.00%	5.00%
Directors and Officers and Error and Omissions Liability Insurance [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Line of credit facility interest rate						7.00%	7.00%	7.00%

SCHEDULE OF AGGREGATE MINIMUM F

SCHEDULE OF AGGREGATE MINIMUM FUTURE LEASE PAYMENTS UNDER CAPITAL LEASES (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Obligation with Joint and Several Liability Arrangement [Line Items]
Present Value of minimum lease payments	$ 9,750,568	$ 12,066,012
Less: Current portion	(9,622,669)	(11,366,171)
Non-Current portion	127,899	$ 699,841
Other Liabilities [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Within year 1	44,278
Within year 2	41,162
Within year 3	8,749
Total Minimum Lease Payments	94,189
Interest Expense relating to future periods	(9,102)
Present Value of minimum lease payments	85,087
Less: Current portion	(38,055)
Non-Current portion	$ 47,032

SCHEDULE OF AGGREGATE FUTURE LO

SCHEDULE OF AGGREGATE FUTURE LONG TERM DEBT PAYMENTS (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Within year 1	$ 770,167
Within year 2	63,677
Within year 3	17,190
Total Loan Payments	851,034
Less: Current portion	(770,167)
Non-Current portion	$ 80,867	$ 651,227

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Issuance of common stock value for services	$ 22,225	$ 9,900	$ 12,009	$ 58,667	$ 58,668	$ 87,013
Number of shares repurchased during period							22,510
Fair value of number of shares repurchased during period	$ 100,106						$ 100,106
Vendor [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Issuance of common stock shares for services	2,500						5,000
Issuance of common stock value for services	$ 9,625						$ 19,525
Board of Directors [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Issuance of common stock shares for services							1,985
Issuance of common stock value for services	$ 12,009						$ 12,009
Employees [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Issuance of common stock	3,000						3,000
Issuance of common stock, value	$ 12,600						$ 12,600

SUMMARY OF UNVESTED STOCK GRANT

SUMMARY OF UNVESTED STOCK GRANTS AWARDED AS COMPENSATION (Details)	9 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-Based Payment Arrangement [Abstract]
Number of shares, Unvested beginning balance | shares	6,985
Weighted Average Grant Date Fair Value, Unvested beginning balance | $ / shares	$ 5.75
Number of shares, Granted | shares	3,000
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 4.20
Number of shares, Vested | shares	(4,985)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 4.94
Number of shares, Forfeited / Cancelled | shares
Weighted Average Grant Date Fair Value, Forfeited / Cancelled | $ / shares
Number of shares, Unvested ending balance | shares	5,000
Weighted Average Grant Date Fair Value, Unvested ending balance | $ / shares	$ 5.69

SHARE BASED PAYMENTS (Details N

SHARE BASED PAYMENTS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense	$ 19,713	$ 74,169	$ 36,941	$ 239,333
2021 Through 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense related to unvested options yet to be recognized	$ 7,112		$ 7,112

SUMMARY OF IDENTIFIABLE ASSETS

SUMMARY OF IDENTIFIABLE ASSETS (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Identifiable assets	$ 82,076,259	$ 86,606,261
Corporate Headquarters [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Identifiable assets	1,765,803	2,067,474
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Identifiable assets	5,653,292	6,073,616
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Identifiable assets	9,448,659	10,363,611
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Identifiable assets	$ 65,208,505	$ 68,101,560

SUMMARY OF INVESTMENT UNDER EQU

SUMMARY OF INVESTMENT UNDER EQUITY METHOD (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Equity method investments	$ 2,893,700	$ 3,155,852
Corporate Headquarters [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Equity method investments	337,127	396,403
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Equity method investments	$ 2,556,573	$ 2,759,449

SUMMARY OF OPERATING INFORMATIO

SUMMARY OF OPERATING INFORMATION (Details) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total net revenues	$ 14,809,826			$ 13,783,996			$ 43,703,549	$ 39,552,834
Net income (loss) after taxes and before non-controlling interest	(17,472)	$ 2,438,548	$ 550,495	(975,170)	$ (79,188)	$ 1,123,477	2,971,571	69,119
Depreciation and amortization	947,933			1,031,843			2,869,671	2,896,203
Interest expense	85,916			98,656			277,737	296,224
Income tax expense	157,604			133,156			526,737	642,884
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total net revenues	3,210,581			3,971,310			6,788,722	9,521,580
North America [Member]
Segment Reporting Information [Line Items]
Net income (loss) after taxes and before non-controlling interest	(86,722)			57,460			(213,730)	(271,356)
Depreciation and amortization	451			701			1,544	3,653
Interest expense				725				2,660
Income tax expense	400			450			2,000	450
Europe [Member]
Segment Reporting Information [Line Items]
Net income (loss) after taxes and before non-controlling interest	(575,533)			(474,629)			(973,972)	301,472
Depreciation and amortization	88,987			139,180			288,481	356,117
Interest expense	1,766			4,106			8,050	8,133
Income tax expense				18,333			9,524	222,370
Europe [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total net revenues	105,668			160,970			349,345	426,883
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net income (loss) after taxes and before non-controlling interest	1,039,158			246,635			4,287,015	(1,497,302)
Depreciation and amortization	858,495			891,962			2,579,646	2,536,433
Interest expense	76,045			89,178			241,576	269,853
Income tax expense	157,204			114,373			514,413	420,064
Asia Pacific [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total net revenues	3,104,913			3,810,340			6,439,377	9,094,697
Corporate Headquaters [Member]
Segment Reporting Information [Line Items]
Net income (loss) after taxes and before non-controlling interest	(394,375)			(804,636)			(127,742)	1,536,305
Interest expense	8,105			4,647			28,111	15,578
Income tax expense							800
Unaffiliated Customers [Member]
Segment Reporting Information [Line Items]
Total net revenues	14,809,826			13,783,996			43,703,549	39,552,834
Unaffiliated Customers [Member] | North America [Member]
Segment Reporting Information [Line Items]
Total net revenues	1,113,820			1,008,011			3,104,433	2,837,445
Unaffiliated Customers [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Total net revenues	2,088,918			2,748,945			7,483,911	8,627,042
Unaffiliated Customers [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total net revenues	11,607,088			10,027,040			33,115,205	28,088,347
Affiliated Customers [Member]
Segment Reporting Information [Line Items]
Total net revenues	14,809,826			13,783,996			43,703,549	39,552,834
Affiliated Customers [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total net revenues

SUMMARY OF CAPITAL EXPENDITURES

SUMMARY OF CAPITAL EXPENDITURES (Details) - USD ($)	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital expenditures	$ 1,680,856	$ 2,109,058
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital expenditures		1,520
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital expenditures	134,450	388,367
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital expenditures	$ 1,546,406	$ 1,719,171

OPERATING SEGMENTS (Details Nar

OPERATING SEGMENTS (Details Narrative)	9 Months Ended
	Mar. 31, 2022Segments
Segment Reporting [Abstract]
Number of operating segments	3

SCHEDULE OF BALANCE OF NON-CONT

SCHEDULE OF BALANCE OF NON-CONTROLLING INTEREST (Details) - USD ($)	Mar. 31, 2022	Jun. 30, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest	$ 6,721,898	$ 7,215,473
NetSol PK [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest, Percentage	33.88%	33.88%
Non-Controlling Interest	$ 6,675,082	$ 7,101,883
NetSol Innovation [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest, Percentage	33.88%	33.88%
Non-Controlling Interest	$ 91,961	$ 136,611
NetSol Thai [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest, Percentage	0.006%	0.006%
Non-Controlling Interest	$ (151)	$ (208)
OTOZ Thai [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest, Percentage	5.60%	0.006%
Non-Controlling Interest	$ (1,091)	$ (52)
OTOZ [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-Controlling Interest, Percentage	5.59%	5.00%
Non-Controlling Interest	$ (43,903)	$ (22,761)

NON-CONTROLLING INTEREST IN S_3

NON-CONTROLLING INTEREST IN SUBSIDIARY (Details Narrative) - shares	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
OTOZ [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of common shares issued	19,633
Non-controlling interest, percentage	5.59%	5.00%
OTOZ Thai [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Non-controlling interest, percentage	5.60%	0.006%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision	$ 157,604	$ 133,156	$ 526,737	$ 642,884
Effective income tax rate	112.50%	15.80%	15.10%	90.30%