Net Element (NETE) Reports Q1 Loss of $0.01/Share

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Go back to Net Element (NETE) Reports Q1 Loss of $0.01/Share

Net Element Reports First Quarter 2016 Results

May 17, 2016 4:13 PM EDT

MIAMI, FL -- (Marketwired) -- 05/17/16 -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, reported financial results for its quarter ended March 31, 2016.

Recent Highlights:

Net revenues were $11,261,059 for the three months ended March 31, 2016 as compared to $5,540,207 for the three months ended March 31, 2015. Revenues increased 103% year over year Announced $15 million credit facility and agreement to exchange up to $5 million of existing debt Unified Payments launched mobile point of sale solution... More