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UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net loss attributable to Net Element, Inc. stockholders $ (1,610,847) $ (2,487,498)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Noncontrolling interest 27,553 (50,701)
Share based compensation 82,011 596,404
Depreciation and amortization 703,538 657,363
Non cash interest 16,759 46,135
Changes in assets and liabilities    
Accounts receivable 1,032,930 510,498
Deferred revenue (535,748) (445,953)
Prepaid expenses and other assets (308,648) (231,755)
Accounts payable and accrued expenses (545,306) 449,284
Net cash used in operating activities (1,137,758) (956,223)
Cash flows from investing activities    
Purchase of portfolios and client acquisition costs (401,980) (403,585)
Purchase of fixed and changes in other assets (2,393) 355
Net cash used in investing activities (404,373) (403,230)
Cash flows from financing activities    
Proceeds from common stock 1,437,132
Proceeds from indebtedness 92,000
Repayment of indebtedness (515,834) (92,680)
Related party advances (33,027) 57,159
Net cash (used in) provided by financing activities (548,861) 1,493,611
Effect of exchange rate changes on cash (3,720) 57,288
Net decrease (increase) in cash (2,094,712) 191,446
Cash at beginning of period 11,285,669 621,635
Cash at end of period 9,190,957 813,081
Cash paid during the period for:    
Interest 226,479 166,394
Taxes $ 4,140 $ 64,314