NETSOL TECHNOLOGIES INC — Capital/Financing Update 2020

Jul 30, 2020

8-K 1 form8-k.htm

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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

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Date of Report (Date of earliest event reported): July 30, 2020

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)

23975 Park Sorrento, Suite 250, Calabasas, CA 91302

(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 |

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Item 8.01 Other Events

Effective July 30, 2020, NetSol Technologies, Inc., or the Company, Board of Directors has authorized the repurchase of up to two million dollars’ worth of the Company’s issued and outstanding common shares. The repurchase plan is authorized commencing July 30,2020, and ending December 24, 2020, subject to an additional six-month extension at the discretion of management.

Under the stock repurchase program, the Company may repurchase its common stock in the open market from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions and federal and state laws governing such transactions. The Company expects to fund the repurchase with its existing cash balance including cash generated from operations.

This information is being furnished and 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, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

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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.

| Date: | July
30, 2020 | NETSOL
TECHNOLOGIES, INC. — /s/
Najeeb Ghauri |
| --- | --- | --- |
| | | NAJEEB
GHAURI |
| | | Chief
Executive Officer |
| Date: | July
30, 2020 | /s/
Roger K. Almond |
| | | ROGER
K. ALMOND |
| | | Chief
Financial Officer |

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