Compensated Awareness Post View
Disclaimer
Net Element, Inc. (NETE) Speaking Growth in Russian
When it comes to mobile-banking and transaction payment and processing technology, Net Element, Inc. (NASDAQ: NETE) has been putting pieces in place to provide top-of-the-line services on mobile devices in the U.S. and in several emerging and developing nations.
The company has recently furthered that mission by securing a three-year financing agreement for its indirect subsidiary, OOO TOT Money, with a private Russian bank, Bank Otkritie. The agreement would stipulate that Bank Otkritie would provide some $4 million in financing and provide up to another $15 million in credit while monitoring TOT Money’s account receivables as TOT Money seeks to expand its mobile-banking services presence throughout Russia.
This agreement has served as a contributing factor to a bullish outlook for Net Element, Inc., as analysts at IFS Securities late last year re-established a “strong buy” rating and gave a price target of $5.50 a share. The stock is currently trading south of $1.25. This seems to indicate a very positive opportunity to take advantage of the growth momentum in the mobile-banking space and investigate the position of Net Element in that space on an international level.
The bullish look by IFS Securities analysts was keyed by an aggressive paring down of the company’s debt load and its measured but assertive growth plans for 2015 and beyond. With the recent financing agreement in Russia providing a foundation for expansion of TOT Money as well as other moves to grow its mobile-banking and payments technology into other markets, there seems to be some positive sentiment for Net Element moving forward in 2015.
For more information about Net Element and TOT Money, visit www.netelement.com
