BOLLINGER INNOVATIONS, INC. — Director's Dealing 2018

Jan 2, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Net Element, Inc. (NETE)
CIK: 0001499961
Period of Report: 2017-12-28

Reporting Person: New Jonathan (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-12-28	Common Stock	A	8150	—	Acquired	11174	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	58	Indirect
Common Stock	108	Indirect

Footnotes

F1: Net Element, Inc. awarded to Jonathan New, Chief Financial Officer of the Company, 8,150 Restricted Shares, as defined in the Company's 2013 Equity Incentive Plan, as amended, (the "Shares") on December 28, 2017 (the "Grant Date"). 100% of the Shares vested immediately as of the Grant Date.

F2: As adjusted by a reverse stock split on October 5, 2017.