Net Element (NETE) Zach's Small-Cap Research Report

Zacks Investment Research Page 5 scr.zacks.com RISKS The proposed transaction may not occur as neither company has yet completed due diligence or auditing. Nor have shareholders and NASDAQ approved the deal. It is also contingent on a $10 million capital raise. The survivor company may not be valued very highly by investors due to the high risk in the venture. It will have to raise a large amount of capital to achieve its goals. If the deal does not go through, the stock may fall to pre-deal levels and given the affect of the pandemic on Net Elements business, the stock may even decline from those levels. US relations with China could impede the success of Mullen Technologies given its reliance on a China based company. Tariffs with China have changed and could change again. OWNERSHIP Oleg Firer Kenges Rakishev The Vanguard Group Renaissance Technologies BlackRock Institutional Trust Steve Wolberg Other