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BOLLINGER INNOVATIONS, INC. Director's Dealing 2012

Oct 12, 2012

35499_dirs_2012-10-12_f919c1a1-3085-4d30-b659-d56806c0a96d.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Net Element International, Inc. (NETE)
CIK: 0001499961
Period of Report: 2012-10-02

Reporting Person: Piovanetti Francesco (Director, Chief Executive Officer)

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 1150000 Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Warrants $7.5 2017-10-02 Common Stock (3714000) Indirect

Footnotes

F1: These shares of common stock, par value $0.0001 per share, of the Issuer (the "Shares") are held by Arco Group LLC, a Puerto Rico limited liability company ("Arco Group").

F2: These warrants of the Issuer (the "Warrants") are held by Arco Group.

F3: Mr. Piovanetti has a majority, controlling interest in Arco Group. Consequently, Mr. Piovanetti has voting control, investment discretion and dispositive power over each of the Shares and the Warrants held by Arco Group. As a result of the foregoing, Mr. Piovanetti may be deemed to have beneficial ownership (as determined under Section 13(d) of the Securities Exchange Act of 1934, as amended) of each of the Shares and the Warrants held by Arco Group.