Last $2.15 USD
Change Today -0.21 / -8.90%
Volume 1.1M
NETE On Other Exchanges
As of 8:10 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).

net element inc (NETE) Snapshot

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07/24/13 - $6.56
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net element inc (NETE) Details

Net Element, Inc., a technology company, specializes in mobile commerce and payment processing for electronic commerce in the United States, Russia, and the Commonwealth of Independent States. It operates in one segment, Transactional Processing and Mobile Payment Solutions. The company provides technology and services that businesses require to accept cashless transactions for the SME business under the Unified Payments brand. It processes cashless transactions for card-present or card-not-present transactions, including point-of-sale, mobile POS, Internet businesses, service-oriented businesses, and mail order/telephone order merchants, as well as checks and direct debits. The company also provides Aptito, a mPOS and value-added services technology, which helps restaurants drive consumer engagement through tablet, mobile, and other cloud-connected devices. Aptito provides hospitality merchants with tools to increase sales, productivity, and customer loyalty. In addition, it offers carrier-integrated mobile payments solutions, including in-app, premium SMS, online, and carrier billing. Further, the company provides engineering services to its payment processing and mobile payment solutions business. Net Element, Inc., together with its subsidiaries, enables ecommerce and content-management companies to monetize their assets in ecommerce and mobile commerce environments. 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.

33 Employees
Last Reported Date: 04/15/14
Founded in 2004

net element inc (NETE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $382.6K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $360.7K
President of Mobile Commerce and Payment Proc...
Total Annual Compensation: $243.3K
Chief Legal Officer, Secretary and Director
Total Annual Compensation: $114.3K
Compensation as of Fiscal Year 2013.

net element inc (NETE) Key Developments

Net Element, Inc. Appoints William Healy as Director

Net Element, Inc. announced that William Healy has been appointed to the company’s Board of Directors, effective June 30, 2014, and will serve on the Board's Audit, Compensation, Nominating and Corporate Governance Committees. Mr. Healy is an accomplished financial services industry veteran with more than 24 years of merchant financing and electronic payments industry experience. Mr. Healy is currently the President of Funds4Growth. Since launching Funds4Growth, Mr. Healy has successfully structured and financed in excess of $100 million in merchant base loans. Prior to his tenure at Funds4Growth, Mr. Healy founded MBF Leasing, LLC in November of 2003, where he was responsible for strategic planning along with the financial and operational management of MBF Leasing. Prior to that, Mr. Healy spent 13 years with the CIT Group, Inc., where he was the President of CIT's Lease Finance Group out of Chicago, Illinois, overseeing more than 150 employees involved in over 225,000 leasing transactions, and in excess of $125 million in merchant base financings. Prior to joining CIT, Mr. Healy held several senior level positions with NewCourt Financial, including Chief Operating Officer of the Specialty Finance Division.

Net Element, Inc. Announces Additional $10 Million Financing

Net Element, Inc. announced that the company completed the closing of a $10 Million credit facility from RBL Capital Group, LLC. This closing represents the second funding in the $30 million financing round that was announced by the company on April 22, 2014. The $10 million credit facility extended to the company by RBL Capital, triggered the conversion provisions of the first round convertible debt financing provided by Cayman Invest, converting its debenture to common shares of the company as of the date of this announcement. The effect of the new $10 million credit facility and the Cayman Invest debt conversion is to significantly reduce the total outstanding debt of the company. The company will utilize $3 Million of the $10 million credit facility to pay in full its loan obligations to MBF Merchant Capital, LLC, a loan that was recently restructured at a discount to the company.

Net Element, Inc.(NasdaqCM:NETE) dropped from Russell 2000 Index

Net Element, Inc. will be removed from the Russell 2000 Index.


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