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:

	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 will be amortized over the next 1.5 years. Amortization expense for the three and nine months ended March 31, 2022 was $407,111 and $1,261,664, respectively. Amortization expense for the three and nine months ended March 31, 2021 was $455,988 and $1,338,625, respectively.

(B) Future Amortization

Estimated amortization expense of intangible assets is as follows:

Period ended:
March 31, 2023	$	1,587,416
March 31, 2024		590,712
	$	2,178,128

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

March 31, 2022

(Unaudited)