<SEC-DOCUMENT>0001437749-20-026109.txt : 20201230
<SEC-HEADER>0001437749-20-026109.hdr.sgml : 20201230
<ACCEPTANCE-DATETIME>20201230112038
ACCESSION NUMBER:		0001437749-20-026109
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20201230
DATE AS OF CHANGE:		20201230
EFFECTIVENESS DATE:		20201230

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34887
		FILM NUMBER:		201424584

	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>DEFA14A
<SEQUENCE>1
<FILENAME>nete20201230_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head>
	<title>nete20201230_8k.htm</title>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></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:center;"><b>SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, DC 20549</b></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:center;"><b>FORM 8-K</b></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:center;"><b>CURRENT REPORT</b></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:center;"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></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:center;"><b>Date of report (Date of earliest event reported)</b><b> December 29, 2020</b></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:center;"><b>Net</b><b> </b><b>Element,</b><b> </b><b>Inc.</b></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:center;"><b>(Exact Name of Registrant as Specified in Charter)</b></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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			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Del</b><b>a</b><b>w</b><b>a</b><b>re</b></p>
			</td>
			<td style="vertical-align:top;width:2.8%;">&nbsp;</td>
			<td style="vertical-align: top; width: 28.9%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>00</b><b>1</b><b>-34</b><b>8</b><b>8</b><b>7</b></p>
			</td>
			<td style="vertical-align:top;width:2.8%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: top; width: 32.6%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>90-1025599</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align:top;width:32.8%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(State or Other Jurisdiction<br>
			of Incorporation)</b></p>
			</td>
			<td style="vertical-align:top;width:2.8%;">&nbsp;</td>
			<td style="vertical-align:top;width:28.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Commission File<br>
			Number)</b></p>
			</td>
			<td style="vertical-align:top;width:2.8%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:32.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(IRS Employer<br>
			Identification No.)</b></p>
			</td>
		</tr>

</table>

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

<table cellpadding="0pt" cellspacing="0pt" style="width: 82%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 9%; margin-right: 9%;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: top; width: 85%; border-bottom: thin solid rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>3</b><b>3</b><b>6</b><b>3</b><b>&nbsp;</b><b>N</b><b>E</b><b>&nbsp;</b><b>1</b><b>6</b><b>3</b><b>rd</b><b>&nbsp;</b><b>S</b><b>t</b><b>ree</b><b>t</b><b>, </b><b>Su</b><b>i</b><b>t</b><b>e </b><b>7</b><b>0</b><b>5</b><b>, N</b><b>o</b><b>r</b><b>t</b><b>h</b><b>&nbsp;</b><b>M</b><b>i</b><b>a</b><b>mi</b><b>&nbsp;</b><b>B</b><b>e</b><b>a</b><b>c</b><b>h</b><b>, </b><b>FL</b></p>
			</td>
			<td style="vertical-align: top; width: 15%; border-bottom: thin solid rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;"><b>33160</b></td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td colspan="1" style="vertical-align: top; width: 85%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>(Address of Principal Executive Offices)</b></p>
			</td>
			<td style="vertical-align: top; width: 15%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;"><b>(Zip Code)</b></td>
		</tr>

</table>

<p style="margin: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt">&nbsp;</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;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align: top; width: 82.1%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(</b><b>30</b><b>5</b><b>)</b><b>&nbsp;</b><b>5</b><b>0</b><b>7-</b><b>8</b><b>80</b><b>8</b></p>
			</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align:top;width:82.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Registrant&#8217;s telephone number, including area code)</b></p>
			</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align:top;width:82.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align: top; width: 82.1%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Not Applicable</b></p>
			</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align:top;width:82.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Former Name or Former Address, if Changed Since Last Report)</b></p>
			</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</td>
		</tr>

</table>

<p style="margin: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt">&nbsp;</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;width:8.6%;">&nbsp;</td>
			<td colspan="5" style="vertical-align:top;width:82.1%;">
			<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:0pt;text-align:justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</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:0pt;">&#9744;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0pt;">&#9745;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0pt;">&#9744;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0pt;">&#9744;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
			</td>
			<td style="vertical-align:top;width:9.3%;">&nbsp;</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:0pt;text-align:left;">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</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-color: black black rgb(0, 0, 0); border-style: solid; border-width: 1px; width: 35.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Title of each class</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 19.5%; border-top: 1px solid black;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Trading symbol(s)</p>
			</td>
			<td style="vertical-align: top; border-color: black black rgb(0, 0, 0); border-style: solid; border-width: 1px; width: 44.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Name of each exchange on which registered</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 35.6%; border-left: 1px solid black; border-right: 1px solid black;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Common Stock, $0.0001 par value per share</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:19.5%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">NETE</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 44.9%; border-left: 1px solid black; border-right: 1px solid black;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">The Nasdaq Stock Market, LLC (Nasdaq Capital Market)</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:0pt;text-align:justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</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:middle;width:31.3%;">&nbsp;</td>
			<td colspan="3" style="vertical-align:middle;width:68.6%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:31.3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;">Emerging growth company</p>
			</td>
			<td colspan="3" style="vertical-align:bottom;width:68.6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;">&#9744;</p>
			</td>
		</tr>
		<tr>
			<td colspan="3" style="vertical-align:middle;width:95%;">&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align:middle;width:94.1%;">&nbsp;</td>
			<td style="vertical-align:middle;width:0.9%;">&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td colspan="2" style="vertical-align:bottom;width:94.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top: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 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp; &#9744;</p>
			</td>
			<td style="vertical-align:bottom;width:0.9%;">&nbsp;</td>
			<td>&nbsp;</td>
		</tr>

</table>

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

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<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
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<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:0pt;text-align:left;"><b>Item 1.01</b> <b>Entry into a Material Definitive Agreement.</b></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:0pt;text-align:justify;">On December 29, 2020, Net Element, Inc., a Delaware corporation (the &#8220;Company&#8221;), entered into the First Amendment (the &#8220;Amendment&#8221;) to Agreement and Plan of Merger dated as of August 4, 2020 (the &#8220;Merger Agreement&#8221;) with Mullen Technologies, Inc., a California corporation (&#8220;Mullen&#8221;), Mullen Acquisition, Inc., a California corporation and wholly owned subsidiary of the Company (&#8220;Merger Sub&#8221;).</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;">Prior to the parties&#8217; execution and delivery of the Amendment, Section 8.1(b) of the Merger Agreement provided that the Merger Agreement may be terminated and the merger contemplated in the Merger Agreement (the &#8220;Merger&#8221;) and other transactions contemplated in the Merger Agreement may be abandoned at any time prior to the merger effective time, notwithstanding any requisite approval and adoption of this Agreement and the transactions contemplated in the Merger Agreement by the shareholders of Mullen and/or the stockholders of the Company, by either Company or Mullen if the merger effective time shall not have occurred on or before December 31, 2020 (the &#8220;Outside Date&#8221;). Pursuant to the Amendment, the Company, Mullen and Merger Sub amended Section 8.01(b) of the Merger Agreement to extend the Outside Date to March 31, 2021.</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;">In addition, pursuant to the Amendment, the Company, Mullen and Merger Sub agreed that, if the registration statement on Form S-4 (with the merger proxy statement included as part of the prospectus) is not filed with U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) on or prior January 15, 2021, then Mullen will pay the Company an agreed sum of $13,333 per day (the &#8220;Late Fee&#8221;) until the such registration statement (with the merger proxy statement included as part of the prospectus) is filed with the SEC. All accumulated Late Fees will be due and payable by Mullen on the 5<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> day of each calendar month commencing February 5, 2021 and on the 5<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> day of each month thereafter until the above-refenced filing has occurred.</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;">The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of such agreement, a copy of which is attached hereto as Exhibit 2.1 and incorporated herein by reference.</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;">***</p>

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

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Cautionary Note Regarding Forward-Looking Statements</b></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;">Certain statements contained in this communication may constitute &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can typically be identified by such words as &#8220;aim&#8221;, &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;evolve,&#8221; &#8220;expect,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221; &#8220;looking ahead,&#8221; &#8220;may,&#8221; &#8220;opinion,&#8221; &#8220;plan,&#8221; &#8220;possible,&#8221; &#8220;potential,&#8221; &#8220;project,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; and variations of such words and other similar expressions.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">These forward-looking statements are only predictions based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. There are important factors that could cause actual results to differ materially from the results expressed or implied by forward-looking statements, including (i) the risk factors set forth under &#8220;Risk Factors&#8221; in Part I, Item 1A of Insight&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, set forth in the Company&#8217;s subsequent Quarterly Reports on Form 10-Q or set forth in the Company&#8217;s other filings with the SEC and (ii) any of the following:</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">the failure to consummate or a delay in the consummation of the Merger and/or the transactions contemplated in the Merger Agreement;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">the timing to consummate the Merger and/or the transactions contemplated in the Merger Agreement;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">the risk that a condition to the consummation of the Merger and/or the transactions contemplated in the Merger Agreement may not be satisfied or waived;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">the failure of the Company&#8217;s stockholders to approve the Merger and/or the transactions contemplated in the Merger Agreement;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">unexpected costs or liabilities in connection with the consummation of the Merger and/or the transactions contemplated in the Merger Agreement;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">operating costs, customer loss and business disruptions arising from the Merger and/or the transactions contemplated in the Merger Agreement and the pendency or consummation thereof (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers), which may be greater than expected;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">uncertainties surrounding the transaction;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">other adverse economic, business, and/or competitive factors; and</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">other risks to consummation of the transaction, including circumstances that could give rise to the termination of the merger agreement and the risk that the transaction will not be consummated within the expected time period, without undue delay, cost or expense, or at all.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">All forward-looking statements are qualified by, and should be considered in conjunction with, these cautionary statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which such statements are made. Except as required by applicable law, neither the Company nor Mullen undertakes any obligation to update forward-looking statements to reflect events or circumstances arising after such date.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Additional Information and Where to Find It</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">In connection with the Merger, the Company plans to file with the Commission proxy statement on Schedule 14A (the &#8220;Proxy Statement&#8221;), the registration statement on Form S-4, as well as other relevant materials regarding the Merger. Following the filing of the definitive Proxy Statement and the registration statement on Form S-4 with the SEC, the Company will provide access to the definitive Proxy Statement, a proxy card and the registration statement on Form S-4 to each stockholder entitled to vote at the special meeting relating to the Merger and the transactions contemplated in the Merger Agreement requiring the Company&#8217;s stockholders&#8217; approval. The Company stockholders are urged to carefully read the Proxy Statement, the registration statement on Form S-4 and other materials relating to the Merger (and any amendments or supplements thereto) and any other relevant documents filed with the SEC when they become available because they will contain important information. The definitive proxy statement, the preliminary proxy statement, the registration statement on Form S-4 and other relevant materials regarding the Merger (when they become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC&#8217;s website (http://www.sec.gov) or at the Company&#8217;s website (http://www.netelement.com).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Participants in a Solicitation </b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company, its directors and officers and Mullen and its directors and officers may be deemed to be, participants in the solicitation of proxies from the Company&#8217;s stockholders with respect to the Merger and other transactions described in the Proxy Statement. Information about the Company&#8217;s directors and executive officers and their ownership of the Company&#8217;s common stock is set forth in the Company&#8217;s Form 10-K filed with the Commission on April 30, 2020 (Company&#8217;s &#8220;Form 10-K&#8221;). To the extent that holdings of the Company&#8217;s securities have changed since the amounts printed in the Company&#8217;s Form 10-K, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the Commission. Information regarding the identity of the participants in the proxy solicitation and their direct or indirect interests in the transaction, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with Commission in connection with the Merger.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 9.01 </b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Financial Statements and Exhibits</b></p>

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

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: justify;">First Amendment dated as of December 29, 2020 to Agreement and Plan of Merger, dated as of August 4, 2020, among the Company, Mullen Acquisition, Inc. and Mullen Technologies, Inc.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">SIGNATURES</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-indent: 36.7pt; text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Dated: December 30, 2020</p>

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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt">NET ELEMENT, INC.</p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">/s/&nbsp;</font>Jeffrey Ginsberg</p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt">Name: Jeffrey Ginsberg</p>

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

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			<td style="width: 7%; vertical-align: top; border-bottom: 1px solid black; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Exhibit No.</td>
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			<td style="vertical-align: top; border-bottom: 1px solid black; width: 90%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Description</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.1</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: justify;"><a href="ex_219427.htm" style="-sec-extract:exhibit;">First Amendment dated as of December 29, 2020 to Agreement and Plan of Merger, dated as of August 4, 2020, among the Company, Mullen Acquisition, Inc. and Mullen Technologies, Inc.</a></p>
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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>ex_219427.htm
<DESCRIPTION>EXHIBIT 2.1
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>FIRST AMENDMENT TO </b><b>AGREEMENT AND PLAN OF MERGER</b><b> </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;">This First Amendment to the Agreement and Plan of Merger (this &#8220;<u>Amendment</u>&#8221;) is effective as of December 29, 2020.</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;">WHEREAS, Net Element, Inc., a Delaware corporation (&#8220;<u>Parent</u>&#8221;), Mullen Acquisition, Inc., a California corporation and a wholly-owned subsidiary of Parent (&#8220;<u>Merger Sub</u>&#8221;), and Mullen Technologies, Inc., a California corporation (the &#8220;<u>Company</u>&#8221;), are parties to that certain Agreement and Plan of Merger, dated as of August 4, 2020 (the &#8220;<u>Agreement</u>&#8221;). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement.</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;">WHEREAS, Section 8.01(b) of the Agreement provides that the Agreement may be terminated and the Merger and the other Transactions may be abandoned at any time prior to the Merger Effective Time, notwithstanding any requisite approval and adoption of this Agreement and the Transactions by the shareholders of the Company and/or the stockholders of Parent, by either Parent or the Company if the Merger Effective Time shall not have occurred on or before December 31, 2020 (the &#8220;<u>Outside Date</u>&#8221;).</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;">WHEREAS, the Parties wish to extend the Outside Date subject to the terms detailed herein;</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;text-indent:36pt;">WHEREAS, Section 8.03 of the Agreement permits the Agreement to be amended by amendment in writing signed by Parent, Merger Sub and the Company.</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;">WHEREAS, each of the Parent Board, the Merger Sub Board and the board of directors of the Company has approved and adopted this Amendment.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">NOW THEREFORE, in consideration of the mutual covenants contained herein, Parent, Merger Sub and the Company hereby agree that the Agreement shall be amended as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Recitals</b>. All of the recitals contained herein are true and correct and are incorporated herein by this reference.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Amendment</b><b>s</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:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (b) of Section 8.01 of the Agreement is hereby amended and restated in its entirety as follows:</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: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">&#8220;(b) by either Parent or the Company if the Merger Effective Time shall not have occurred on or before March 31, 2021; or&#8221;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Section 2.01(f) of the Agreement is hereby added, to immediately follow Section 2.01(e), as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&#8220;(f) If the Registration Statement (with the Proxy Statement included as part of the prospectus) is not filed with U.S. Securities and Exchange Commission (the &#8220;<u>SEC</u>&#8221;) on or prior January 15, 2021, then the Company agrees to pay an agreed sum of $13,333.00 per day (the &#8220;<u>Late Fee</u>&#8221;) until the said Registration Statement (with the Proxy Statement included as part of the prospectus) is filed with the SEC. All accumulated Late Fees shall be due and payable by the Company on the 5<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> day of each calendar month commencing February 5, 2021 and on the 5<sup style="vertical-align:top;line-height:120%;font-size:pt">th</sup> day of each month thereafter until the above-refenced filing has occurred.</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The addresses for notices in Section 9.02 are hereby amended and restated in their entirety as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">&#8220;if to Parent:</p>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">Net Element, Inc.</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">3363 NE 163rd St., Suite 606</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">North Miami Beach, Florida 33160<br>
Attention: Oleg Firer, CEO and Steven Wolberg, Chief Legal Officer<br>
Email: ofirer@netelement.com and swolberg@netelement.com</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">if to the Company:</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: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">Mullen Technologies, Inc.<br>
1405 Pioneer Street</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">Brea, California 92821</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 97pt; text-align: justify; text-indent: 0pt;">Attention: David Michery, CEO<br>
Email: david@mullenusa.com&#8221;</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;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Limited Effect</b>. Except as expressly amended and modified by this Amendment, the Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Governing Law</b>. This Amendment and the rights and obligations of the parties hereto shall be construed in accordance with and governed by the internal laws of the State of Delaware applicable to contracts executed in and to be performed in that State.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Counterparts</b>. This Amendment may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment in Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart of this Amendment.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>[Signatures are on next page.]</i></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;">IN WITNESS WHEREOF, the parties to this Amendment have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the date first set forth above.</p>

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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt">MULLEN TECHNOLOGIES, INC.<font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
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			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">/s/&nbsp;</font>David Michery</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Name: David Michery</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Title:&nbsp;&nbsp; Chief Executive Officer</p>
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			<td style="width: 19%;" valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td style="width: 3%;" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td style="width: 25%;" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td style="width: 19%;" valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" style="width: 3%;" valign="top" width="3%">NET ELEMENT, INC.</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0); width: 25%;" valign="top" width="35%">/s/ Oleg Firer</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" style="width: 3%;" valign="top" width="3%">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Name: Oleg Firer</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Title:&nbsp;&nbsp; Chief Executive Officer</p>
			</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" style="width: 3%;" valign="top" width="3%">MULLEN ACQUISITION, INC.</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">&nbsp;</td>
			<td style="width: 25%;" valign="top" width="35%">&nbsp;</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td style="width: 3%;" valign="top" width="3%">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0); width: 25%;" valign="top" width="35%">/s/ Oleg Firer</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 53%;" valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" style="width: 3%;" valign="top" width="3%">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Name: Oleg Firer</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Title:&nbsp;&nbsp; President</p>
			</td>
			<td style="width: 19%;" valign="top" width="12%">&nbsp;</td>
		</tr>

</table>

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