| PROPERTY AND EQUIPMENT |
NOTE
8 - PROPERTY AND EQUIPMENT
Property
and equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
As of | | |
As of | |
| | |
June
30, 2025 | | |
June
30, 2024 | |
| | |
| | |
| |
| Office Furniture and Equipment | |
$ | 2,437,002 | | |
$ | 2,352,940 | |
| Computer Equipment | |
| 9,513,181 | | |
| 8,679,791 | |
| Assets Under Capital Leases | |
| 145,197 | | |
| 154,718 | |
| Building | |
| 3,532,475 | | |
| 3,602,819 | |
| Land | |
| 894,698 | | |
| 913,473 | |
| Autos | |
| 1,603,271 | | |
| 1,658,961 | |
| Improvements | |
| 217,230 | | |
| 206,387 | |
| Subtotal | |
| 18,343,054 | | |
| 17,569,089 | |
| Accumulated Depreciation | |
| (13,269,682 | ) | |
| (12,462,247 | ) |
| Property and Equipment,
Net | |
$ | 5,073,372 | | |
$ | 5,106,842 | |
For
the years ended June 30, 2025 and 2024, depreciation expense totaled $1,463,783 and $1,595,959, respectively. Of these amounts, $952,331
and $1,018,768, respectively, are reflected in cost of revenues.
Following
is a summary of fixed assets held under capital leases as of June 30, 2025 and 2024:
SCHEDULE OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| | |
As of | | |
As of | |
| | |
June 30, 2025 | | |
June 30, 2024 | |
| Vehicles | |
$ | 145,197 | | |
$ | 154,718 | |
| Total | |
| 145,197 | | |
| 154,718 | |
| Less: Accumulated Depreciation
- Net | |
| (47,807 | ) | |
| (25,078 | ) |
| Fixed assets held under
capital leases, Total | |
$ | 97,390 | | |
$ | 129,640 | |
NETSOL
TECHNOLOGIES, INC.
Notes
to Consolidated Financial Statements
June
30, 2025 and 2024
Finance
lease term and discount rate were as follows:
SCHEDULE OF FINANCE LEASE TERM
| | |
As of | | |
As of | |
| | |
June
30, 2025 | | |
June
30, 2024 | |
| Weighted
average remaining lease term - Finance leases | |
| 1.75
Years | | |
| 2.75
Years | |
| | |
| | | |
| | |
| Weighted average discount
rate - Finance leases | |
| 11.3 | % | |
| 11.3 | % |
|