Richard Lappenbusch

Net Element, Inc. is a developer and publisher of Internet services powered by a video-based technology platform. The company's platform enables the rapid development, production and distribution of rich media content (including high definition (HD) and three-dimensional (3D) formats, services (Software as a Service (SaaS)) and branded content in entertainment and news. It owns and publishes Internet properties and creates social and business communities currently in motorsports, music, film and entertainment. Its portfolio of websites includes: www.Motorsport.com; www.Openfilm.com; www.music1.com; and www.ARLive.com. Net Element was formed in 2004 as Splinex Technology, Inc., a spin-off of Ener1, Inc. The company is headquartered in Miami, FL.

Net Element, Inc. provides solutions that supports electronic payments acceptance in a multi-channel environment including point-of-sale, e commerce, and mobile devices. It operates through the following segments: North America Transaction Solutions, International Transaction Solutions, and Corporate Expenses & Eliminations. The North America Transaction Solutions segment provides technology and services to businesses that are required to accept cashless transactions, mobile payment services, merchant performance analytical tools, and merchant back office reporting. The International Transaction Solutions segment provides online and mobile commerce solutions for merchants including social networks, game developers, online magazines, mobile applications and digital media operators. The company was founded on April 20, 2010 and is headquartered in North Miami Beach, FL.