BOLLINGER INNOVATIONS, INC. — Director's Dealing 2015

Jun 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2015-06-09

Reporting Person: Rakishev Kenges (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-09	Common Stock	A	22500	$0.00	Acquired	7700335	Indirect

Footnotes

F1: 379,584 of these Shares (as defined below) are held directly by Mr. Rakishev (as defined below). "Shares" are shares of common stock of the Issuer, par value $0.0001 per share.

F2: 7,320,751 of these Shares are held by Novatus Holding PTE. Ltd., a private limited company organized under the laws of Singapore ("Novatus").

F3: Kenges Rakishev, a citizen of the Republic of Kazakhstan ("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) of the Shares held by Novatus.

F4: Each of Mr. Rakishev and Novatus disclaim beneficial ownership of these Shares except to the extent of their respective pecuniary interest therein.