INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 11 - INTANGIBLE ASSETS

Intangible assets consisted of the following:

	As of			As of
	December 31, 2023			June 30, 2023
Product Licenses - Cost	$	39,395,533		$	47,244,997
Effect of Translation Adjustment		(24,427,792	)		(24,756,959	)
Accumulated Amortization		(14,967,741	)		(22,360,107	)
Net Balance	$	-		$	127,931

Product Licenses

Product licenses include internally developed software cost. Product licenses are amortized on a straight-line basis over their respective lives. Amortization expense for the three and six months ended December 31, 2023, was $nil and $126,041, respectively. Amortization expense for the three and six months ended December 31, 2022, was $322,672 and $645,492, respectively.

NETSOL TECHNOLOGIES, INC.

Notes to Condensed Consolidated Financial Statements

December 31, 2023

(Unaudited)