Net Element, Inc. (NETE) Receives Update from SeeThruEquity

Before the opening bell, leading independent equity research and corporate access firm SeeThruEquity announced the release of a company update covering Net Element, Inc. (NASDAQ: NETE). The update follows Net Element’s November release of its third quarter financial results, which included a 10 percent year-over-year increase in total revenues driven by strong performance from the company’s North America Transactions segment. With revenues up an impressive 55 percent year-over-year for the first nine months of 2016, SeeThruEquity classified Net Element as “an intriguing high risk / high reward growth company in the financial technology space.”

In addition to its strong revenue growth year-to-date, Net Element recently strengthened its balance sheet through its entry into a $10 million stock purchase agreement with ESOUSA Holdings, LLC. Benefiting from this transaction, the company ended the third quarter with $1.4 million of cash on hand and total assets of $23.4 million. SeeThruEquity placed particular focus on this transaction when evaluating Net Element’s forward growth potential. According to the update, Net Element’s “access to capital has been a swing factor in the performance of the stock,” making the company’s balance sheet an “area to watch” moving forward.

To view the full SeeThruEquity report, visit http://nnw.fm/ORsp5

Since the release of its third quarter results, Net Element has continued to set the stage for sustained growth through the balance of 2016 and beyond. Last month, the company entered into an agreement with Mashreqbank, a leading financial institution in the United Arab Emirates, that will allow Net Element to process transactions for merchants operating in the UAE. The next week, Net Element announced a new partnership with Conformance Technologies, a fast-growing provider of operating systems, education systems and expertise used in managing business compliance. Through this agreement, Net Element gained access to a multilingual suite of compliance-related solutions designed to limit the time and expense attributed to necessary compliance activities.

In its most recent update, Net Element continued to build on this progress through subsidiary PayOnline. Notably, the company entered Azerbaijan’s growing e-commerce market by securing a contract with Flight.az, a leading online travel agency (OTA) in the region. As part of this deal, PayOnline’s proprietary ‘Avia2Split’ technology was integrated into the OTA’s booking platform. Azerbaijan’s e-commerce market expanded by more than 100 percent in 2015 alone, and analysts expect the Southwestern Asian nation to achieve growth of approximately 80 percent in 2016.

For more information, visit www.NetElement.com

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