BOLLINGER INNOVATIONS, INC. — Director's Dealing 2014

Sep 9, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2014-08-22

Reporting Person: Healy William (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-22	Common Stock	J	75200	—	Acquired	75200	Direct

Footnotes

F1: Net Element, Inc., a Delaware corporation (the "Company"), issued 75,200 shares of common stock ("Common Stock") of the Company to William Healy as part consideration for reduction of the Company's indebtedness to MBF Merchant Capital, LLC, an Illinois limited liability company, pursuant to that certain Amended and Restated Loan and Security Agreement, dated as of May 20, 2014, among TOT Group, Inc., a Delaware corporation and the Company's subsidiary, certain of TOT Group, Inc.'s subsidiaries, as co-borrowers, and MBF Merchant Capital, LLC.