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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net revenues        
Service fees $ 15,456,310 $ 12,117,708 $ 28,362,086 $ 21,481,528
Branded content 684,731 1,575,140 1,340,896 3,472,379
Total revenues 16,141,041 13,692,848 29,702,982 24,953,907
Costs and expenses:        
Cost of service fees 12,653,556 10,003,934 23,475,543 17,602,087
Cost of branded content 664,836 1,480,859 1,302,841 3,267,947
General and administrative 2,599,178 1,999,391 5,430,338 4,087,624
Non-cash compensation 128,537 2,014,589 724,941 2,375,573
Bad debt expense 865,863 125,238 1,145,621 376,979
Depreciation and amortization 573,018 844,535 1,230,381 1,732,653
Total costs and operating expenses 17,484,988 16,468,546 33,309,665 29,442,863
Loss from operations (1,343,947) (2,775,698) (3,606,683) (4,488,956)
Interest expense, net (322,052) (438,976) (591,740) (589,414)
Loss from stock value guarantee 0 (2,162,861) 0 (2,162,861)
Other income (expense) (49,422) (7,705) (55,196) (29,604)
Net (loss) income before income taxes (1,715,421) (5,385,240) (4,253,619) (7,270,835)
Income taxes 0 0 0 0
Net loss (1,715,421) (5,385,240) (4,253,619) (7,270,835)
Net loss attributable to the non controlling interest 75,081 38,792 125,782 76,668
Net loss attributable to Net Element, Inc. stockholders (1,640,340) (5,346,448) (4,127,837) (7,194,167)
Foreign currency translation loss (146,102) (496,041) (133,999) (525,782)
Comprehensive loss attributable to common stockholders $ (1,786,442) $ (5,842,489) $ (4,261,836) $ (7,719,949)
Loss per share - basic and diluted $ (0.09) $ (0.46) $ (0.24) $ (0.63)
Weighted average number of common shares outstanding - basic and diluted 17,715,382 11,635,434 17,099,145 11,464,434