<SEC-DOCUMENT>0001437749-20-004502.txt : 20200306
<SEC-HEADER>0001437749-20-004502.hdr.sgml : 20200306
<ACCEPTANCE-DATETIME>20200306133543
ACCESSION NUMBER:		0001437749-20-004502
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200306
DATE AS OF CHANGE:		20200306

FILER:

	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

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-186621
		FILM NUMBER:		20693860

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>nete20200306_posam.htm
<DESCRIPTION>FORM POS AM
<TEXT>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>As filed with the Securities and Exchange Commission on March 6, 2020</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;"><b>File No. 333-186621</b></p>

<p style="font-size:1pt;margin:0pt;text-align:right;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</b><br>
<b>Washington</b><b>, D.C. 20549</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>POST-EFFECTIVE AMENDMENT NO. 6 TO </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>REGISTRATION STATEMENT ON FORM S-3 (FILE NO. 333-186621)</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">REGISTRATION STATEMENT<br>
UNDER<br>
THE SECURITIES ACT OF 1933</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-indent:36pt;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>NET ELEMENT, INC. </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>90-1025599</b></p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction of incorporation or organization)</p>
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			<td style="vertical-align:top;width:26.7%;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer Identification No.)</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>3363 NE 163rd St., Suite 705</b><br>
<b>North Miami Beach, Florida 33160</b><br>
<b>(305) 507-8808 </b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address, including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices)</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Jeffrey Ginsberg </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Chief Financial Officer </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Net Element, Inc.</b><br>
<b>3363 NE 163rd St., Suite 705</b><br>
<b>North Miami Beach, Florida 33160</b><br>
<b>(305) 507-8808</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Name, address, including zip code, and telephone number,<br>
including area code, of agent for service)</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">with a copy to:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-indent:36pt;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Serge Pavluk, Esq.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Snell &amp; Wilmer L.L.P.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>350 South Grand Avenue, 31</b><sup style="vertical-align:top;line-height:120%;font-size:pt"><b>st</b></sup><b> Floor</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Los Angeles, California 90071-3406 </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Telephone: (213</b><b>) 929-2500 </b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Approximate date of commencement of proposed sale to the public:</b> <b>Not applicable.</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If the only securities being registered on this form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. &#9744;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and "emerging growth company" in Rule 12b-2 of the Exchange Act.</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Non-accelerated filer &#9746;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Smaller reporting company &#9746;</p>
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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Emerging growth company &#9744;</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until this registration statement shall become effective on such date as the Securities and Exchange Commission (the &#8220;Commission&#8221;), acting pursuant to said Section 8(a), may determine.</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>EXPLANATORY NOTE</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>DEREGISTRATION OF EXPIRED SECURITIES</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Net Element, Inc. (the &#8220;Company&#8221;) is filing this Post-Effective Amendment No. 6 (the &#8220;Amendment&#8221;) to the Registration Statement on Form S-3 (File No. 333-186621) (the &#8220;Registration Statement&#8221;) initially filed with the Securities and Exchange Commission on February 12, 2013, is being filed to deregister certain expired securities that were registered under the Registration Statement.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Registration Statement registered: (a) up to 4,334,000 warrants to purchase common stock, par value $0.0001 per share, at an exercise price of $7.50 per share, that were originally issued by Cazador Acquisition Corporation Ltd., a blank check company incorporated as a Cayman Islands exempted company and the Company&#8217;s predecessor (&#8220;Cazador&#8221;), to Cazador Sub Holdings Ltd., in connection with a private placement prior to Cazador&#8217;s initial public offering (the &#8220;Warrants&#8221;); (b) up to 4,334,000 shares of Warrant Stock (as defined in the Registration Statement) issuable upon the exercise of the Warrants so long as such Warrants were exercised by transferees who acquired those Warrants in registered transactions following the effective date of the Registration Statement; (c) up to 4,334,000 shares of Warrant Stock issuable in transactions exempt from registration under the Securities Act of 1933, as amended, upon the exercise of the Warrants by the selling security holders listed in the Registration Statement; and (d) the resale from time to time by the selling security holders listed in the Registration Statement of up to 6,538,544 shares of Additional Stock (as defined in the Registration Statement). The Warrants, the Warrant Shares and Additional Stock are referred to collectively as the &#8220;Securities.&#8221; Unless stated otherwise, all numbers herein are not adjusted for any reverse stock splits undertaken by the Company.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Warrants expired on October 1, 2017, and a registration statement is no longer required for any resale of Additional Stock. As a result, the Company has no further obligation to maintain the effectiveness of a registration statement with respect to the Securities. As a result of this deregistration, none of the Securities remain registered for sale pursuant to the Registration Statement.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Post-Effective Amendment to the Registration Statement on Form S-3 to be signed on its behalf by the undersigned, thereunto duly authorized, in Miami, Florida on March 6, 2020.</p>

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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;&nbsp;</b></p>
			</td>
			<td colspan="2" style="vertical-align:top;width:49%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>NET ELEMENT, INC. </b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:49%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:49%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:45%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:45%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Jeffrey Ginsberg</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:45%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Name: Jeffrey Ginsberg</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:51%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:4%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:45%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Title: Chief Financial Officer</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-3 has been signed by the following persons in the capacities and on the dates indicated.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Signature </b></p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;&nbsp;</b></p>
			</td>
			<td colspan="2" style="vertical-align:top;border-bottom:solid 1px #000000;;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Title </b></p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;&nbsp;</b></p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Date </b></p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Oleg Firer</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Executive Officer and Director</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">March 6, 2020</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Oleg Firer</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Principal Executive Officer)</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ Jeffrey Ginsberg</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Financial Officer</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">March 6, 2020</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Jeffrey Ginsberg</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Principal Financial Officer; Principal Accounting Officer)</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:28%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">*&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Director</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">March 6, 2020</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Jon Najarian</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:29%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:28%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:29%;">&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 28%; border-bottom: thin solid rgb(0, 0, 0); padding-left: 36pt;">*</td>
			<td colspan="2" style="vertical-align:top;width:1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">Director</td>
			<td style="vertical-align:top;width:2.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:29%;">March 6, 2020</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;border-bottom: 1px #000000;;width:28%;">Howard Ash</td>
			<td colspan="2" style="vertical-align:top;width:1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:39.3%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:29%;">&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align:top;width:28.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:0.8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:39.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:top;width:29.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">* By: <u>/s/ Jeffrey Ginsberg&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</u></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jeffrey Ginsberg, as attorney-in-fact</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>


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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
