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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

 

Date of Report (Date of earliest event reported): September 12, 2024

 

Commission file number: 0-22773

 

NETSOL TECHNOLOGIES, INC.

(Exact name of small business issuer as specified in its charter)

 

nevada   95-4627685
(State or other Jurisdiction of   (I.R.S. Employer NO.)

Incorporation or Organization)

    

 

16000 Ventura Blvd., Suite 770, Encino, CA 91436

(Address of principal executive offices) (Zip Code)

 

(818) 222-9195 / (818) 222-9197

(Issuer’s telephone/facsimile numbers, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each Class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $.01 par value per share   NTWK   NASDAQ

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On September 12, 2024, NetSol Technologies, Inc.’s Pakistani subsidiary, NetSol Technologies, Ltd. posted the results of operations and financial conditions for year ended June 30, 2024. The results are posted on the Pakistan Stock Exchange. These results represent only the results of one subsidiary of NetSol Technologies, Inc. and are not representative of the results of the NetSol Technologies, Inc. on a consolidated basis.

 

The information in this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document field under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Exhibits

 

99.1 Earnings Announcement for September 12, 2024, for NetSol Technologies Ltd.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

Page 2

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    NETSOL TECHNOLOGIES, INC.
     
Date: September 12, 2024 /s/ Najeeb Ghauri
    NAJEEB GHAURI
    Chief Executive Officer

 

Date: September 12, 2024 /s/ Roger Almond
    ROGER ALMOND
    Chief Financial Officer

 

Page 3

 

 

EXHIBIT 99.1

 

NetSol Technologies Limited Pakistan, (“NetSol PK”), a majority owned subsidiary of NetSol Technologies, Inc., today announced financial results for the financial year ended June 30, 2024.

 

Financial Highlights – Fiscal Year 2023-24

 

  ● Company posted net revenues of PKR 9,281 million compared to PKR 7,670 million in corresponding fiscal year
     
  ● Company posted gross profit of PKR 4,164 million compared to PKR 2,262 million in the corresponding year
     
  ● Net profit after tax of PKR 1,384 million was reported by the Company compared to a net profit of PKR 1,285 million last year

 

Revenues for the year ended June 30, 2024 increased to PKR 9,281 million from PKR 7,670 million in the last fiscal year. The company reported a gross profit of PKR 4,164 million compared to PKR 2,262 million in the corresponding fiscal year. The company posted a net profit after tax of PKR 1,384 million or an EPS of PKR 15.63 per diluted share in comparison of a net profit of PKR 1,285 million or an EPS of PKR 14.59 per diluted share in the last fiscal year. Included in the current financial year net profit is a currency exchange loss of PKR 326 million compared to a currency exchange gain of PKR 1,696 million in the fiscal year 2023.

 

Page 1

 

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Sep. 12, 2024
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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 16000 Ventura Blvd., Suite 770
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Title of 12(b) Security Common Stock, $.01 par value per share
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NetSol Technologies (NASDAQ:NTWK)
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