Net Element Inc. NETE Archives - Page 5 of 20

MondayNov 16, 2020 9:43 am

QualityStocksNewsBreaks – Net Element Inc. (NASDAQ: NETE) Announces Q3 2020 Financial Results

Net Element (NASDAQ: NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multichannel environment including point of sale (“POS”), e-commerce and mobile devices, today announced its financial results for the third quarter ended Sept. 30, 2020. Among the highlights for the quarter as compared to the same period in 2019, Net Element reported an increase in total transaction volume to $956.2 million versus $953.7 million, a decrease in net revenues to $16.7 million versus $16.8 million, as well as an increase in North American Transaction Solutions revenue to $16.07 million versus $15.9 million. “We…

FridayNov 13, 2020 1:58 pm

QualityStocksNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Positioned at the Forefront of Reduced EV Manufacturing Costs

Net Element (NASDAQ: NETE) is transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. Timing looks optimal for the transition as new research from investment bank UBS finds that the cost to manufacture EVs may be the same as the cost for regular models within the next four years (https://ibn.fm/DW8fZ). This news bodes well for Net Element and Mullen. A recent article discussing this reads, “Mullen recently announced its own plans to start work on a manufacturing facility as well as accept pre-orders for its M05 fully electric SUV.…

FridayOct 23, 2020 2:16 pm

Net Element Inc. (NASDAQ: NETE), Mullen Stand to Benefit from Decreasing EV Manufacturing Costs

Investment bank UBS reports that electric cars will cost the same to make as conventional cars by 2024. Expensive batteries, which account for between a quarter and two-fifths of EV’s cost, have been barrier to production. NETE recently announced entry into EV space through merger with privately held Mullen Technologies Inc. New research from investment bank UBS indicates that electric vehicles (“EVs”) may be as cheap to manufacture as regular models within the next four years (https://ibn.fm/UV8WX). This news bodes well for Net Element Inc. (NASDAQ: NETE), a global financial technology and value-added solutions group that recently announced its planned…

WednesdayOct 21, 2020 2:56 pm

QualityStocksNewsBreaks – Net Element Inc. (NASDAQ: NETE), Mullen Technologies Ramping Up for EV Production

Net Element (NASDAQ: NETE) is transforming its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. Mullen Technologies recently announced commencement of the build out of its pilot manufacturing facility and that it has begun taking pre-orders for its MX-05 fully electric SUV. Completion of the facility is expected by April 2021. Shortly thereafter, the company will begin assembly of certification prototypes with plans for the first consumer-ready MX-05 SUVs to roll off the production line by the second quarter of 2022. An article discussing this reads, “Mullen Technologies anticipates its…

FridayOct 16, 2020 1:43 pm

QualityStocksNewsBreaks – Net Element Inc.’s (NASDAQ: NETE) Foray into EV Market Driven by Dragonfly K50

Net Element (NASDAQ: NETE) has recently transformed its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc. The company is set to begin marketing its initial vehicle model – the Dragonfly K50 – in 2Q2021. Developed in conjunction with China’s Qiantu Motors, the car model will mark Net Element’s initial foray into the North American electric vehicle market. The venture will be further reinforced through the launch of the Mullen MX-5, the company’s self-manufactured EV SUV, by the second quarter of 2022. An article discussing opportune timing of the move reads,…

ThursdayOct 15, 2020 1:13 pm

Net Element Inc. (NASDAQ: NETE) Well-Poised to Capitalize as EV Market Set to Grow by 29% per Annum Over Next Decade

Net Element’s reverse merger with EV manufacturer Mullen Technologies expected to close by 4Q2020 Mullen expects to begin marketing Dragonfly K50, sold in conjunction with JV partner Qiantu Motors from 2Q2021 followed by its own EV SUV in 2022 Deloitte expects annual EV sales to rise from 2.5mn in 2020 to 31.1mn in 2030, implying 29% CAGR over next ten years By 2030, EVs expected to account for 32% of all automobile sales globally, approximately 27% in United States Net Element (NASDAQ: NETE), a financial technology company which has recently transformed its business model to become a pure-play electric vehicle…

FridayOct 09, 2020 2:04 pm

QualityStocksNewsBreaks – Net Element Inc. (NASDAQ: NETE) Looks to Compelling Opportunity Through Pending Reverse-Merger

Net Element (NASDAQ: NETE) previously entered a definitive agreement to merge with Mullen Technologies, a Southern California-based electric vehicle (“EV”) company, in a move intended to maximize shareholder value. The pending reverse-merger will allow privately-held Mullen stakeholders to acquire a majority of the new stock and accelerate the process of taking the company public, giving potential investors an opportunity to purchase relatively undervalued shares within the rapidly growing sector. Investors continue to divert capital into the EV industry, pushing EV stock prices to unprecedented levels. “We feel, after considering an array of strategic alternatives, that the agreement with Mullen provides…

TuesdayOct 06, 2020 2:02 pm

Net Element Inc. (NASDAQ: NETE), Mullen Technologies Announce Facility Build-Out, Pre-Sales of Fully Electric EV

Mullen Technologies begins built-out of pilot facility, accepting orders for MX-05 SUV. Facility slated for April 2021 completion; first MX-05 SUVs rolling off production line by Q2 2022. In August, Net Element, Mullen Technologies announced execution of definitive agreement to merge. The announcement by Mullen Technologies Inc. that it has begun to build out its pilot manufacturing facility and take pre-orders for its M05 fully electric SUV bodes well for Net Element (NASDAQ: NETE). Earlier this year, Net Element, a global financial technology and value-added solutions group, and Mullen Technologies announced a merger agreement—so good news for Mullen means good…

ThursdayOct 01, 2020 2:23 pm

QualityStocksNewsBreaks – Mullen Technologies Opens Pre-Sales for MX-05 Pure Electric SUV

Mullen Technologies Inc., an emerging electric vehicle (“EV”) manufacturer, which previously announced a definitive agreement to merge with Net Element (NASDAQ: NETE) in a stock-for-stock reverse merger, today announced that it is accepting preorders for its newest EV vehicle. The MX-05 fully electric, all-wheel drive SUV is slated for delivery to customers beginning Q2 2022. NETE and Mullen have announced a definitive agreement to merge in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company. In addition, Mullen has begun construction on its preproduction facility, located in Monrovia, California. The…

ThursdaySep 24, 2020 9:30 am

QualityStocksNewsBreaks – Mullen Technologies Inc. to Commence Construction of EV Pilot Facility Slated for Completion by April 2021

Mullen Technologies, an emerging electric vehicle (“EV”) manufacturer and technology company that previously announced a definitive agreement to merge with Net Element (NASDAQ: NETE) in a stock-for-stock reverse merger, this morning announced that it will commence the build-out of its pilot manufacturing facility and begin taking pre-orders of its MX-05 fully electric SUV starting on October 1st, 2020. The company estimates that up to 1,000 MX-05 fully electric vehicles will be assembled at the new facility per year, with future models such as the MX-07 and MX-03 to follow. Construction is slated to be complete by April 2021, and the…

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