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: MAMETOV ANVAR (10% Owner)

Holdings (Derivative)

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

Footnotes

F1: This security is owned directly by Cayman Invest S.A. The reporting person may be deemed to share beneficial ownership of the security held by Cayman Invest S.A. by virtue of his status as the sole director and shareholder of Cayman Invest S.A. The reporting person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

F2: 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.