BOLLINGER INNOVATIONS, INC. — Director's Dealing 2014

May 2, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2014-04-21

Reporting Person: Cayman Invest S.A. (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Secured Convertible Senior Promissory Note	$	2015-03-15	Common Stock (4840995)		Direct

Footnotes

F1: This security is convertible by the holder at any time into shares of Common Stock equal to 15% of the then outstanding Common Stock. In addition, this security will automatically convert into shares of Common Stock immediately upon the closing of a financing in which Net Element, Inc. receives at least $10,000,000.