Net Element shares gained more than 3% in trading Tuesday after providing an update over concerns about the decline in the share price that resulted in a non-compliance notice by the Nasdaq.
Net Element said the primary goal in the second half of 2015 is to integrate PayOnline’s technologies with its US offering and to execute on its objective to become a premier payments-as-a-service company. The first half of this year was spent completing the financial turnaround which cumulated in a financing of at least $10.5 million.
“It is our belief that the current share price does not fairly represent the potential of our business and as this potential is realized through the achievement of coming milestones, it is our hope that the share price will reflect this and that we will regain compliance with NASDAQ listing requirements,” the company said in the press release. Recently NETE was up on light volume of 380,000 shares. Average daily volume is 600,000 shares.