Form 8-K - Current report

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): October 27, 2023

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)

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 October 27, 2023, NetSol Technologies, Inc.’s Pakistani subsidiary, NetSol Technologies, Ltd. posted the results of operations and financial conditions for first quarter ended September 30, 2023. 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 October 27, 2023, 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:	October 27, 2023	/s/ Najeeb Ghauri
		NAJEEB GHAURI
		Chief Executive Officer

Date:	October 27, 2023	/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. servicing the Asia-Pacific region, announced financial results for the quarter ended September 30, 2023.

Financial Highlights Q1, 2023-24

	●	Net revenues increased to PKR 2,256 million compared to PKR 1,716 million in corresponding quarter of last fiscal year

	●	Gross profit increased to PKR 901 million versus PKR 476 million in the same period of last fiscal year

	●	Company posted a net profit of PKR 272 million or a profit of PKR 3.09 per diluted share compared to PKR 191 million last year or PKR 2.17 per diluted share

Company posted revenues of PKR 2,256 million for the quarter ended September 30, 2023 compared with PKR 1,716 million in same quarter of last year. Gross profit clocked at PKR 901 million compared to PKR 476 million in the corresponding period. The Company posted a net profit after tax of PKR 272 million or a profit of PKR 3.09 per diluted share in comparison of PKR 191 million or PKR 2.17 per diluted share in the same quarter of fiscal year 2023.

Cover	Oct. 27, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 27, 2023
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.
Entity Address, Address Line Two	Suite 770
Entity Address, City or Town	Encino
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91436
City Area Code	818
Local Phone Number	222-9195
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	NTWK
Security Exchange Name	NASDAQ