Net Element Shares Hit 52 Week Low alongside Grexit Credit Crisis - BrokerBank Securities, Inc.
NEW YORK, June 30, 2015 /PRNewswire/ -- Shares of Net Element International Inc. (NASDAQ: NETE) hit a 52 week low alongside of the Grexit as markets experience worst day of 2015. This came the day after announcing the signing by PayOnline of a new 3-year contract to process transactions for certain international dating networks, including AnastasiaDate, AmoLatina and AsianDate. The social networks receive over 150 million online visitors annually and have over 4 million registered users that spend over 360 million hours on the sites per year. The contract with the majority owner of the dating networks, Social Discovery Ventures, provides for minimum net revenues to Net Element in the amount of $1.2 million over 3 years and a minimum transaction processing commitment of $300 million.
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