Monday, November 16, 2020

MissionIRNewsBreaks – Net Element Inc. (NASDAQ: NETE) Announces Q3 2020 Financial Results

 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, today announced its financial results for the third quarter ended Sept. 30, 2020. Among the highlights for the quarter as compared to the same period in 2019, Net Element reported an increase in total transaction volume to $956.2 million versus $953.7 million, a decrease in net revenues to $16.7 million versus $16.8 million, as well as an increase in North American Transaction Solutions revenue to $16.07 million versus $15.9 million. “We continue working diligently in an effort to finalize the Mullen merger for the benefit of our shareholders,” said Oleg Firer, executive chairman of Net Element.

To view the full news release, visit https://ibn.fm/eQcQw

About Net Element Inc.

Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. On Aug. 5, 2020, Net Element announced the execution of a definitive agreement (the “Merger Agreement”) to merge with privately-held Mullen Technologies Inc. (“Mullen”), a Southern California-based electric vehicle company in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company (the “contemplated merger”). That contemplated merger is subject to customary closing conditions, regulatory approvals and shareholder approval for both companies. For additional information, visitwww.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

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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