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Last $0.59 USD
Change Today +0.1012 / 20.65%
Volume 7.3M
As of 1:56 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

net element inc (NETE) Snapshot

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52 Week High
09/12/14 - $5.75
52 Week Low
07/30/15 - $0.12
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Current Stock Chart for NET ELEMENT INC (NETE)

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net element inc (NETE) Details

Net Element, Inc., a global payments-as-a-service, operates as a technology provider with an integrated mobile and transactional services platform serving emerging market clients. The company, through its subsidiary, TOT Group, Inc., operates Unified Payments that processes cashless transactions for card-present or card-not-present transactions, including point-of-sale (POS), mobile POS (mPOS), EMV, near field communication, Apple Pay, Internet businesses, service-oriented businesses, and mail order/telephone order merchants, as well as processes other cashless transactions, including checks and direct debits. The company also operates Aptito, a cloud based software-as-a-service restaurant management solution, which offers integrated POS, mPOS, kiosk, and digital menus functionality to drive consumer engagement through Apple iPad-based POS, kiosk, and all other cloud-connected devices. In addition, it operates TOT Money, a proprietary mobile payments and commerce platform that provides carrier-integrated mobile payments solutions to help digital merchants, such as social networks, games, online magazines, and digital media to monetize mobile clients and the subscription base; and mobile campaign management and distribution services that allow for the delivery of mobile campaigns on behalf of company’s content partners. Further, the company provides payment acceptance solutions; all-in-one digital software solution for the food-service industry; information, analytics, and reporting solutions; and Sales Central, a cloud-based solution that provides an integrated toolkit to independent sales organizations and merchants to manage sales, operations, reporting, and accounting functions. Its clients include wireless carriers, content providers, and merchants. The company was formerly known as Net Element International Inc. and changed its name to Net Element, Inc. in December 2013. Net Element, Inc. was founded in 2004 and is headquartered in North Miami Beach, Florida.

65 Employees
Last Reported Date: 03/30/15
Founded in 2004

net element inc (NETE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $600.0K
Chief Legal Officer and Secretary
Total Annual Compensation: $200.0K
Chief Financial Officer of Net Element Russia...
Total Annual Compensation: $140.8K
Compensation as of Fiscal Year 2014.

net element inc (NETE) Key Developments

Net Element, Inc. Amends Bylaws

Net Element, Inc. amended on July 10, 2015 to remove the fee-shifting provisions by deleting Sections 6.07 and 6.08 of the company bylaws (the Amendment). The amendment removing the fee-shifting provisions is effective as of June 15, 2015, the same date as the date of the adoption of the fee-shifting provisions in the company’s bylaws. As the fee-shifting provisions were removed as of the same date they were adopted, there will be no effect of the fee-shifting provisions with respect to the company or its shareholders.

Net Element Receives Non-Compliance Notice From NASDAQ

On June 19, 2015, Net Element, Inc. received a deficiency letter from the Listing Qualifications Department of The NASDAQ Stock Market notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The NASDAQ Capital Market pursuant to NASDAQ Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until December 16, 2015, to regain compliance with the Rule. The Staff letter has no effect on the listing of the Company’s common stock at this time. The Staff advised the Company that, if at any time before December 16, 2015 the bid price for the Company’s common stock closes at $1.00 or more for a minimum of 10 consecutive business days as required under Listing Rule 5810(c)(3)(A), the Staff will provide written notification to the Company that it complies with the Rule. If the Company does not regain compliance with the Rule by December 16, 2015, the Company may be eligible for an additional 180 calendar day compliance period, provided that it meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and notifies the Staff of its intention to cure the deficiency during the additional compliance period. The Company will consider various options available to it if its common stock does not trade at a level to regain compliance. These options include effecting a reverse stock split. If the Company does not regain compliance with the Rule by December 16, 2015 and is not eligible for an additional compliance period at that time, the Staff will provide written notification to the Company that its common stock may be delisted. At that time, the Company may appeal the Staff’s delisting determination to a NASDAQ Listing Qualifications Panel (“Panel”). If the Company timely appeals, it would remain listed pending the Panel’s decision. There can be no assurance that, if the Company does appeal the delisting determination by the Staff to the Panel, that such appeal would be successful. The Company intends to continue monitoring the bid price for its common stock and will consider various options available to it if its common stock does not trade at a level to regain compliance. These options include effecting a reverse stock split.

Net Element, Inc. Launches Mobile Payment Solution

Net Element, Inc. announced the release by PayOnline of a new mobile payments solution for iOS (iPhone or iPad) mobile apps. Net Element currently manages, operates and is in the process of integrating the PayOnline group of companies pending closing of Net Element's acquisition of the company. The new software developer kit (SDK) enables integration of PayOnline transaction processing into iPad and iPhone apps.


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