Docoh
Loading...

MULN Mullen Automotive

Filed: 11 May 21, 4:04pm

 


UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 


 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported) May 9, 2021

 


 

Net Element, Inc.

 

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-34887

 

90-1025599

(State or Other Jurisdiction
of Incorporation)

 

(Commission File
Number)

 

(IRS Employer
Identification No.)

 

 

           3363 NE 163rd Street, Suite 705, North Miami Beach, FL

33160 
 

(Address of Principal Executive Offices)

(Zip Code) 
   
 

(305) 507-8808

 
 

(Registrants telephone number, including area code)

 
   
 

Not Applicable

 
 

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

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:

 
   
 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 
 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 
 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value per share

NETE

The Nasdaq Stock Market, LLC (Nasdaq Capital Market)

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company          ☐

 

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. ☐

 

 

 

Item 1.02          Termination of a Material Definitive Agreement.

 

As previously reported in the Current Report on Form 8-K filed by Net Element, Inc. (the “Company”) with the U.S. Securities and Exchange Commission on May 15, 2020, on May 7, 2020, the Company entered into a promissory note evidencing an unsecured loan (the “PPP Loan”) in the amount of $491,492 made to the Company through Truist Bank, a North Carolina banking corporation (the “Lender”), under the Paycheck Protection Program (the “PPP”). The PPP was established under the Coronavirus Aid, Relief, and Economic Security Act and is administered by the U.S. Small Business Administration (“SBA”).

 

On May 9, 2021, the Company received a notification from the Lender that the SBA approved the Company’s PPP Loan forgiveness application for the entire PPP Loan balance of $491,492 and that the remaining PPP Loan balance is zero.

 

2

 

 

SIGNATURES

 

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.

 

Dated: May 11, 2021

 

 NET ELEMENT, INC.
  
  
 By:/s/ Jeffrey Ginsberg 
 Name:Jeffrey Ginsberg
 

Title:

Chief Financial Officer

 

3