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Net Element Releases Open Letter To Shareholders

Stocks in this article: NETE

MIAMI, Oct. 18, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE), a technology-driven group specializing in mobile payments and value-added transactional services, releases the following letter to Shareholders from the Company's CEO, Oleg Firer:

October marks the first anniversary of Net Element as a publicly traded company with a NASDAQ listing. This is an important milestone. We would like to take this opportunity to share several noteworthy achievements and reorganizational changes that have been made toward longevity and profitability of Net Element and to share our progress in building and strengthening key strategic partnerships that make us a more relevant and engaged enterprise.

Just last month, we undertook one of the most important decisions in the company's history by divesting our non-core business assets. While this represents a cultural shift, it allows us to focus on the segment of our business that generates the most revenues and that we believe has the greatest growth potential and facilitates the promotion of our intellectual assets and business relationships that are substantial competitive differentiators.

Throughout this past year, the entire management team has worked tirelessly to further develop the Company's technologies, establish new relationships, and identify new industry opportunities. As CEO, my primary responsibility is to deliver shareholder value and to ensure the ongoing success of our company. Our team is committed to keeping shareholders informed and involved so that you understand the dynamics of our industry and our company. Although we still have a lot of hard work ahead, we are excited about the numerous opportunities at hand that we plan on pursuing this year and over the long term. When I reflect on how far we've come over the past 12 months I couldn't be more motivated and optimistic about what we will achieve in the next year. Here are a few highlights from this year:

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