Net calories?

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So what are net calories exactly? I understand goal is what I should eat without exercise, exercise is how many calories I lost/burned through exercise, and it gives me the option to eat my exercise calories, but what are net calories?

Is it, like, say I eat 1200 calories, burn 300 and my net becomes 900. Is that right?

And, anyone have any idea how many calories I should eat? I lift 3x a week for 35 minutes, and walk 5x a week for 60 minutes. Trying to lose 20 - 25 pounds! Thanks!

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