NetworkNewsBreaks – Net Element, Inc. (NASDAQ: NETE) CEO Issues Letter to Shareholders

Global financial technology and value-added solutions group Net Element, Inc. (NASDAQ: NETE) this morning released an updated letter to shareholders from CEO Oleg Firer. In the update, he recaps the company’s achievements for the first half of the year before taking a look at recent corporate events that could contribute to Net Element’s future performance. “To date, our focus has been on growing our business and creating an efficient, well-functioning company by laying the foundation for a scalable business,” Firer noted in the shareholder letter. “I am pleased to say that we have been successful in the execution of these priorities and that we are growing our business both domestically and internationally. We have re-organized our international operations and expect to see cost reductions beginning in the third quarter of 2017.” Other topics addressed in the update include the company’s upcoming meeting with Nasdaq, scheduled for August 10, 2017, as well as its ongoing efforts to obtain funding, including the company’s recently-obtained $2.5 million credit line.

To view the full press release, visit http://nnw.fm/E12zS

About Net Element

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant and retail point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies. Further information is available at www.netelement.com.

About NetworkNewsBreaks

NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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