Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point-of-sale (“POS”), e-commerce and mobile devices, on Thursday reported its financial results for the second quarter ended June 30, 2020. “The COVID-19 pandemic continued to negatively impact our financial results during the second quarter of this year. Our ability to adapt quickly by implementing safety protocols to protect our employees has been successful so far, and we are happy to report we have had zero cases of COVID-19 among our employees. We also implemented cost-cutting initiatives while boosting support for our merchants through e-commerce solutions, contactless payment alternatives and online food ordering for restaurants,” Oleg Firer, CEO of Net Element, stated in the news release. “We continue working diligently to increase shareholder value as we continue to work toward the proposed merger with Mullen Technologies Inc.”
To view the full press release, visit http://ibn.fm/LdTE9
About Net Element, Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprises (“SMEs”) in the U.S. and selected emerging markets. In the U.S., it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud-based restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omnichannel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017, the company was recognized by South Florida Business Journal as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
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