When it comes to mobile-banking and transaction
payment and processing technology, Net Element, Inc. (NASDAQ: NETE) has been
putting pieces in place to provide top-of-the-line services on mobile devices
in the U.S. and in several emerging and developing nations.
The company has recently furthered that mission
by securing a three-year financing agreement for its indirect subsidiary, OOO
TOT Money, with a private Russian bank, Bank Otkritie. The agreement would
stipulate that Bank Otkritie would provide some $4 million in financing and
provide up to another $15 million in credit while monitoring TOT Money’s
account receivables as TOT Money seeks to expand its mobile-banking services
presence throughout Russia.
This agreement has served as a contributing
factor to a bullish outlook for Net Element, Inc., as analysts at IFS
Securities late last year re-established a “strong buy” rating and gave a price
target of $5.50 a share. The stock is currently trading south of $1.25. This
seems to indicate a very positive opportunity to take advantage of the growth
momentum in the mobile-banking space and investigate the position of Net
Element in that space on an international level.
The bullish look by IFS Securities analysts was
keyed by an aggressive paring down of the company’s debt load and its measured
but assertive growth plans for 2015 and beyond. With the recent financing
agreement in Russia providing a foundation for expansion of TOT Money as well
as other moves to grow its mobile-banking and payments technology into other
markets, there seems to be some positive sentiment for Net Element moving
forward in 2015.
For more information about Net Element and TOT
Money, visit www.netelement.com
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