BOLLINGER INNOVATIONS, INC. — Director's Dealing 2012

Oct 2, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Net Element International, Inc. (CAZA)
CIK: 0001499961
Period of Report: 2012-09-28

Reporting Person: Rakishev Kenges (Director, 10% Owner)
Reporting Person: Novatus Holding PTE. Ltd. (Director, 10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Ordinary Shares	840000	Indirect

Footnotes

F1: These Shares (as defined below) are held by Novatus Holding PTE. Ltd., a private limited company organized under the laws of Singapore ("Novatus "). "Shares" are ordinary shares of the Issuer, par value $0.0001 per share. On October 2, 2012, the Issuer consummated a merger with Net Element, Inc. As part of the merger, the Issuer filed a Certificate of Corporate Domestication with the Secretary of State of the State of Delaware whereby the Issuer was domesticated as a Delaware corporation and changed its name to "Net Element International, Inc." In connection with the consummation of the merger and domestication, each currently issued and outstanding Share was automatically converted into shares of common stock, par value $0.0001 per share, of Net Element International, Inc. Additionally, in connection with the consummation of the merger, Kenges Rakishev, a citizen of the Republic of Kazakhstan ("Mr. Rakishev") became a director of the Issuer on October 2, 2012.

F2: Mr. Rakishev is the sole shareholder of Novatus. Consequently, Mr. Rakishev has voting control and investment discretion over the Shares held by Novatus. As a result of the foregoing, Mr. Rakishev may be deemed to have beneficial ownership (as determined under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") of the Shares held by Novatus.

F3: Each of Mr. Rakishev and Novatus disclaim beneficial ownership of these Shares except to the extent of their respective pecuniary interest therein.