<SEC-DOCUMENT>0001144204-15-058983.txt : 20151009
<SEC-HEADER>0001144204-15-058983.hdr.sgml : 20151009
<ACCEPTANCE-DATETIME>20151009194901
ACCESSION NUMBER:		0001144204-15-058983
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150911
FILED AS OF DATE:		20151009
DATE AS OF CHANGE:		20151009

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Net Element, Inc.
		CENTRAL INDEX KEY:			0001499961
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				901025599
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3363 NE 163RD STREET
		STREET 2:		SUITE 705
		CITY:			NORTH MIAMI BEACH
		STATE:			FL
		ZIP:			33160
		BUSINESS PHONE:		(305) 507-8808

	MAIL ADDRESS:	
		STREET 1:		3363 NE 163RD STREET
		STREET 2:		SUITE 705
		CITY:			NORTH MIAMI BEACH
		STATE:			FL
		ZIP:			33160

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Net Element International, Inc.
		DATE OF NAME CHANGE:	20121002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Cazador Acquisition Corp Ltd.
		DATE OF NAME CHANGE:	20100825

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Firer Oleg
		CENTRAL INDEX KEY:			0001296618

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34887
		FILM NUMBER:		151154253

	MAIL ADDRESS:	
		STREET 1:		11 YELLOWSTONE DRIVE
		CITY:			OLD BRIDGE
		STATE:			NJ
		ZIP:			08857
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>v421986_form4-a.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2015-09-11</periodOfReport>

    <dateOfOriginalSubmission>2015-09-15</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001499961</issuerCik>
        <issuerName>Net Element, Inc.</issuerName>
        <issuerTradingSymbol>NETE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001296618</rptOwnerCik>
            <rptOwnerName>Firer Oleg</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NET ELEMENT, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>3363 NE 163RD ST., SUITE 705</rptOwnerStreet2>
            <rptOwnerCity>NORTH MIAMI BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33160</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Restricted Shares of Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2015-09-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2857143</value>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.14</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2857143</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Star Equities, LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Options of Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.22</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2015-09-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2857143</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2015-09-11</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-09-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Restricted Shares of Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2857143</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2857143</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Star Equities, LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Net Element, Inc. issued 2,857,143 restricted shares of common stock to Star Equities, LLC pursuant to the terms of that certain Letter Agreement, dated as of September 11, 2015 (the &quot;Letter Agreement&quot;), as modified by the Additional Letter Agreement (see footnote 4) with respect to equity funding of Net Element, Inc. by Star Equities, LLC and certain other investors parties thereto.</footnote>
        <footnote id="F2">Oleg Firer is a managing member of Star Equities, LLC.  Mr. Firer disclaims beneficial ownership of the securities held by Star Equities, LLC except to the extent of his pecuniary interest in such securities.</footnote>
        <footnote id="F3">Option exercise price per share. Options are issued pursuant to the terms of the Letter Agreement.</footnote>
        <footnote id="F4">The original Form 4, filed September 15, 2015, reported 2,142,857 shares of Restricted Shares of Common Stock and Restricted Options of Common Stock.  This amendment is being filed to amend the total number of Restricted Shares of Common Stock and Restricted Options of Common Stock as 2,857,143 due to the Additional Letter Agreement, dated as of October 7, 2015 among Net Element, Inc., Star Equities, LLC and certain other investor parties thereto.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Oleg Firer, Managing Member of Star Equities, LLC</signatureName>
        <signatureDate>2015-10-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
