XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net revenues        
Total Revenues $ 33,291,935 $ 13,718,609 $ 57,077,282 $ 29,556,175
Costs and expenses:        
Cost of service fees 29,582,598 11,536,787 50,369,043 24,837,195
Selling, general and administrative 2,050,861 1,385,329 3,962,710 3,701,221
Non-cash compensation 11,237 7,500 22,494 45,900
Bad debt expense 514,381 33,310 1,209,058 476,088
Depreciation and amortization 528,884 772,402 1,264,562 1,551,844
Total costs and operating expenses 32,687,961 13,735,328 56,827,867 30,612,248
Income (loss) from operations 603,974 (16,719) 249,415 (1,056,073)
Interest expense (363,312) (341,020) (719,592) (689,433)
Gain on debt forgiveness 441,492 0 441,492 0
Late fees due from Mullen 559,986 0 1,559,961 0
Other income 8,971 19,325 10,261 29,065
Net income (loss) from continuing operations before income taxes 1,251,111 (338,414) 1,541,537 (1,716,441)
Income taxes 0 0 0 0
Net income (loss) from continuing operations 1,251,111 (338,414) 1,541,537 (1,716,441)
Net income attributable to the non-controlling interest 12,764 13,724 26,903 24,953
Net income (loss) attributable to Net Element, Inc. stockholders 1,263,875 (324,690) 1,568,440 (1,691,488)
Foreign currency translation 93,601 (65,990) 112,183 64,824
Comprehensive income (loss) attributable to common stockholders $ 1,357,476 $ (390,680) $ 1,680,623 $ (1,626,664)
Income (loss) per share - basic and diluted (in dollars per share) $ 0.21 $ (0.08) $ 0.26 $ (0.41)
Weighted average number of common shares outstanding - basic and diluted (in shares) 5,966,123 4,175,148 5,944,636 4,146,396
Service Fees [Member]        
Net revenues        
Total Revenues $ 33,291,935 $ 13,718,609 $ 57,077,282 $ 29,556,175