$MULN
MULLEN AUTOMOTIVE INC. Stock $muln

$muln Overview Financials Valuation SEC Filings Company Website

2020 Q3 Form 10-Q Financial Statement

#000143774920023901 Filed on November 16, 2020

Income Statement

Concept	2020 Q3	2019 Q3
Revenue	$16.73M	$16.82M
YoY Change	-0.51%	-2.45%
Cost Of Revenue	$14.56M	$14.08M
YoY Change	3.42%	-3.3%
Gross Profit	$2.174M	$2.740M
YoY Change	-20.66%	2.14%
Gross Profit Margin	12.99%	16.29%
Selling, General & Admin	$1.648M	$2.399M
YoY Change	-31.32%	2.21%
% of Gross Profit	75.78%	87.53%
Research & Development	$47.63K	$90.00K
YoY Change	-47.08%	200.0%
% of Gross Profit	2.19%	3.28%
Depreciation & Amortization	$749.5K	$750.0K
YoY Change	-0.07%	63.04%
% of Gross Profit	34.47%	27.37%
Operating Expenses	$1.648M	$17.67M
YoY Change	-90.68%	-1.84%
Operating Profit	-$1.904M	-$852.7K
YoY Change	123.31%	11.96%
Interest Expense	$360.5K	$270.0K
YoY Change	33.5%	25.06%
% of Operating Profit
Other Income/Expense, Net	-$77.78K	$83.34K
YoY Change	-193.33%	100.79%
Pretax Income	-$2.342M	-$1.039M
YoY Change	125.37%	11.04%
Income Tax
% Of Pretax Income
Net Earnings	-$2.330M	-$1.011M
YoY Change	130.51%	11.01%
Net Earnings / Revenue	-13.92%	-6.01%
Basic Earnings Per Share
Diluted Earnings Per Share	-$517.9K	-$50.50
COMMON SHARES
Basic Shares Outstanding		4.118M
Diluted Shares Outstanding

Balance Sheet

Concept	2020 Q3	2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.120M	$500.0K
YoY Change	323.93%	-80.77%
Cash & Equivalents	$33.37K	$492.7K
Short-Term Investments
Other Short-Term Assets	$201.1K	$1.400M
YoY Change	-85.64%	-17.65%
Inventory
Prepaid Expenses
Receivables	$5.253M	$5.545M
Other Receivables	$641.0K	$0.00
Total Short-Term Assets	$15.33M	$7.405M
YoY Change	107.04%	-19.62%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.542M	$9.550K
YoY Change	16046.55%	-72.13%
Goodwill	$7.681M	$9.008M
YoY Change	-14.73%	-6.59%
Intangibles	$2.623M	$5.951M
YoY Change	-55.93%	11.15%
Long-Term Investments
YoY Change
Other Assets	$762.0K	$655.7K
YoY Change	16.21%	8.72%
Total Long-Term Assets	$6.656M	$16.04M
YoY Change	-58.49%	2.56%
TOTAL ASSETS
Total Short-Term Assets	$15.33M	$7.405M
Total Long-Term Assets	$6.656M	$16.04M
Total Assets	$21.99M	$23.44M
YoY Change	-6.2%	-5.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.688M	$5.351M
YoY Change	-49.76%	-1.06%
Accrued Expenses	$2.403M	$1.638M
YoY Change	46.74%	-27.13%
Deferred Revenue	$854.4K	$944.3K
YoY Change	-9.51%	-19.55%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$33.05M	$114.2K
YoY Change	28849.26%	-76.44%
Total Short-Term Liabilities	$58.23M	$8.213M
YoY Change	608.95%	-15.81%
LONG-TERM LIABILITIES
Long-Term Debt	$283.9K	$7.983M
YoY Change	-96.44%	57.38%
Other Long-Term Liabilities	$4.500M	$400.0K
YoY Change	1025.0%
Total Long-Term Liabilities	$4.784M	$7.983M
YoY Change	-40.07%	57.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$58.23M	$8.213M
Total Long-Term Liabilities	$4.784M	$7.983M
Total Liabilities	$64.49M	$16.58M
YoY Change	289.05%	11.8%
SHAREHOLDERS EQUITY
Retained Earnings	-$106.1M	-$176.0M
YoY Change	-39.68%	3.03%
Common Stock	$5.086K	$411.00
YoY Change	1137.47%	6.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$42.50M	-$33.88M
YoY Change
Total Liabilities & Shareholders Equity	$21.99M	$23.44M
YoY Change	-6.2%	-5.66%

Cashflow Statement

Concept	2020 Q3	2019 Q3
OPERATING ACTIVITIES
Net Income	-$2.330M	-$1.011M
YoY Change	130.51%	11.01%
Depreciation, Depletion And Amortization	$749.5K	$750.0K
YoY Change	-0.07%	63.04%
Cash From Operating Activities	$48.01K	-$800.0K
YoY Change	-106.0%	110.53%
INVESTING ACTIVITIES
Capital Expenditures	-$543.4K	-$10.00K
YoY Change	5333.8%	-108.33%
Acquisitions
YoY Change
Other Investing Activities	-$79.72K	-$410.0K
YoY Change	-80.56%	-86.24%
Cash From Investing Activities	-$623.1K	-$410.0K
YoY Change	51.98%	-86.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	2.099M	860.0K
YoY Change	144.07%	-272.0%
NET CHANGE
Cash From Operating Activities	48.01K	-800.0K
Cash From Investing Activities	-623.1K	-410.0K
Cash From Financing Activities	2.099M	860.0K
Net Change In Cash	1.524M	-350.0K
YoY Change	-535.41%	-91.21%
FREE CASH FLOW
Cash From Operating Activities	$48.01K	-$800.0K
Capital Expenditures	-$543.4K	-$10.00K
Free Cash Flow	$591.4K	-$790.0K
YoY Change	-174.86%	58.0%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
	dei	Document Period End Date DocumentPeriodEndDate	2020-09-30
	dei	Document Type DocumentType	10-Q
CY2020Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	4845211
CY2019Q4	us-gaap	Common Stock Value CommonStockValue	410
CY2020Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	5514
CY2020Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	8574057
CY2020Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	27305
CY2020Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	9906134
CY2019Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	8342461
CY2020Q3	us-gaap	Long Term Notes Payable LongTermNotesPayable	9906134
	dei	Amendment Flag AmendmentFlag	false
	dei	Entity Shell Company EntityShellCompany	false
	dei	Security12b Title Security12bTitle	Common Stock, par value $0.0001 per share
CY2019Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-2274187
CY2020Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	188116981
CY2019Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	185297069
CY2020Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	665000
CY2019Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	697000
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	2000000
CY2020Q3	nete	Accrued Foreign Taxes AccruedForeignTaxes	5082
CY2019Q4	nete	Accrued Foreign Taxes AccruedForeignTaxes	2064
CY2020Q3	nete	Accrued Pay Online Current AccruedPayOnlineCurrent
CY2019Q4	nete	Accrued Pay Online Current AccruedPayOnlineCurrent	69039
CY2020Q1	nete	Adjustments To Additional Paid In Capital Sale Of Promissory Note AdjustmentsToAdditionalPaidInCapitalSaleOfPromissoryNote	5000
CY2015Q2	nete	Increase Decrease In Common Stock Shares Authorized IncreaseDecreaseInCommonStockSharesAuthorized	100000000
CY2017Q4	nete	Increase Decrease In Common Stock Shares Authorized IncreaseDecreaseInCommonStockSharesAuthorized	-300000000
	nete	Increase Decrease Lease Liability IncreaseDecreaseLeaseLiability	453236
	nete	Increase Decrease Lease Liability IncreaseDecreaseLeaseLiability	411996
CY2020Q3	nete	Longterm Debt Maturity After Year Four LongtermDebtMaturityAfterYearFour	140141
	nete	Payments For Proceeds From Property Plant And Equipment And Other Assets PaymentsForProceedsFromPropertyPlantAndEquipmentAndOtherAssets	579045
	nete	Payments For Proceeds From Property Plant And Equipment And Other Assets PaymentsForProceedsFromPropertyPlantAndEquipmentAndOtherAssets	463628
CY2020Q2	nete	Proceeds From Paycheck Protection Program Under Cares Act ProceedsFromPaycheckProtectionProgramUnderCaresAct	491493
CY2020Q2	nete	Sale Of Promissory Note Periodic Purchase Amount SaleOfPromissoryNotePeriodicPurchaseAmount	148000
CY2020Q2	nete	Shares Issued Sale Of Promissory Note Amount SharesIssuedSaleOfPromissoryNoteAmount	151482
CY2020Q3	nete	Shares Issued Sale Of Promissory Note Amount SharesIssuedSaleOfPromissoryNoteAmount	1534742
	nete	Working Capital WorkingCapital	300000
CY2020Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	5460746
CY2019Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	6037833
CY2020Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	5252882
CY2019Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	6560928
CY2020Q3	us-gaap	Accrued Bonuses Current AccruedBonusesCurrent	1603682
CY2019Q4	us-gaap	Accrued Bonuses Current AccruedBonusesCurrent	1318060
CY2020Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2402869
CY2019Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1800344
CY2020Q3	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	220140
CY2019Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	276239
CY2020Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-2211449
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	2100000
CY2020Q3	us-gaap	Assets Assets	22572567
CY2019Q4	us-gaap	Assets Assets	23039148
CY2020Q3	us-gaap	Assets Current AssetsCurrent	9170199
CY2019Q4	us-gaap	Assets Current AssetsCurrent	8668676
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font: inherit;">1.</div> BASIS OF PRESENTATION</div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;"> </div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">The accompanying <div style="display: inline; font-style: italic; font: inherit;"> September </div><div style="display: inline; font-style: italic; font: inherit;">30,</div> <div style="display: inline; font-style: italic; font: inherit;">2020</div> interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "Commission"). Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, but we believe the disclosures made are adequate to make the information presented <div style="display: inline; font-style: italic; font: inherit;">not</div> misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated financial statements included herein. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form <div style="display: inline; font-style: italic; font: inherit;">10</div>-K for the year ended <div style="display: inline; font-style: italic; font: inherit;"> December 31, 2019. </div>The results of operations for the periods presented are <div style="display: inline; font-style: italic; font: inherit;">not</div> necessarily indicative of results to be expected for the full fiscal year or any other periods.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">The condensed consolidated unaudited financial statements contained in this report include the accounts of Net Element, Inc., and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.</div></div>
CY2020Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2119628
CY2019Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	486604
CY2020Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2875221
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1116255
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2249551
CY2019Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1148358
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1758966
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1101193
CY2020Q3	us-gaap	Cash Uninsured Amount CashUninsuredAmount	1500000
CY2019Q4	us-gaap	Cash Uninsured Amount CashUninsuredAmount	134000
CY2020Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2019Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2020Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000
CY2019Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000
CY2015Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	300000000
CY2016Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000
CY2017Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000
CY2020Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	4833880
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CY2020Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	4833880
CY2019Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	4111082
CY2020Q3	us-gaap	Common Stock Value CommonStockValue	483
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-3958319
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-3684647
CY2020Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-2331656
CY2019Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-1006254
CY2020Q3	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	854436
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CY2020Q3	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	14560190
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	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	39397384
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	us-gaap	Costs And Expenses CostsAndExpenses	49250820
	us-gaap	Costs And Expenses CostsAndExpenses	52619759
CY2020Q3	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	10082549
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CY2020Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	149110
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CY2020Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	749474
CY2019Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	755985
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	2301318
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	2354552
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	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	2354552
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.94
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.91
CY2020Q3	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	222398
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CY2020Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.52
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	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	25052
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-284
CY2020Q3	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	1089113
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	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	1135013
	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	2035855
CY2020Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	16236841
CY2019Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	14208318
CY2020Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	996909
CY2020Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	249227
CY2020Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	896321
CY2020Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	992133
CY2020Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	996909
CY2020Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	20368341
CY2019Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	19886967
CY2020Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	4131500
CY2019Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	5678649
CY2020Q3	us-gaap	Goodwill Goodwill	7681186
CY2019Q4	us-gaap	Goodwill Goodwill	7681186
CY2019	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	1300000
	us-gaap	Goodwill Impairment Loss GoodwillImpairmentLoss	0
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CY2020Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-2342486
CY2019Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1039411
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4058926
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	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-226353
CY2020Q3	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	4131500
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CY2020Q3	us-gaap	Interest Expense InterestExpense	360503
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	us-gaap	Interest Expense InterestExpense	1049936
	us-gaap	Interest Expense InterestExpense	767676
	us-gaap	Interest Paid Net InterestPaidNet	966566
	us-gaap	Interest Paid Net InterestPaidNet	730993
CY2020Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	130813
CY2020Q2	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-65990
	us-gaap	Nature Of Operations NatureOfOperations	<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font: inherit;">2.</div> ORGANIZATION AND OPERATIONS</div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;"> </div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">Net Element, Inc. (collectively with its subsidiaries, “Net Element”, “we”, “us”, “our” or the “Company”) is a financial technology-driven group specializing in payment acceptance and value-added solutions across multiple channels in the United States and selected international markets. We are differentiated by our proprietary technology which enables us to provide a broad suite of payment products and end-to-end transaction processing services. Our transactional services business enables merchants to accept credit cards as well as other forms of payment, including debit cards, checks, gift cards, loyalty programs and alternative payment methods in traditional card-present or swipe transactions, as well as card-<div style="display: inline; font-style: italic; font: inherit;">not</div>-present transactions, such as those conducted over the phone or through the Internet or a mobile device. We operate in <div style="display: inline; font-style: italic; font: inherit;">two</div> reportable business operating segments: (i) North American Transaction Solutions, and (ii) International Transaction Solutions.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">We are able to deliver our services across multiple points of access, or “multi-channel,” including brick and mortar locations, software integration, e-commerce, mobile operator billing, mobile and tablet-based solutions. In the United States, via our U.S. based subsidiaries, we generate revenues from transactional services and other payment technologies for small and medium-sized businesses. Through PayOnline, we provide transactional services, mobile payment transactions, online payment transactions and other payment technologies in emerging countries in the Eurasian Economic Community ("EAEC"), Europe and Asia.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Our transactional services business enables merchants to accept credit cards as well as other forms of payment, including debit cards, checks, gift cards, loyalty programs and alternative payment methods in traditional card-present or swipe transactions, as well as card-<div style="display: inline; font-style: italic; font: inherit;">not</div>-present transactions, such as those conducted over the phone or through the Internet or a mobile device. We market and sell our services through both independent sales groups (“ISGs”), which are non-employee, external sales organizations and other <div style="display: inline; font-style: italic; font: inherit;">third</div>-party resellers of our products and services, and directly to merchants through electronic media, telemarketing and other programs, including utilizing partnerships with other companies that market products and services to local and international merchants. We have agreements with several banks that sponsor us for membership in the Visa <div style="display: inline; font-weight: bold;">®</div>, MasterCard <div style="display: inline; font-weight: bold;">®</div>, American Express <div style="display: inline; font-weight: bold;">®, </div>and Discover <div style="display: inline; font-weight: bold;">® </div>card associations and settle card transactions for our merchants. These sponsoring banks include Citizens Bank, Esquire Bank, N.A. and Wells Fargo Bank, N.A. From time to time, we <div style="display: inline; font-style: italic; font: inherit;"> may </div>enter into agreements with additional banks. We perform core functions for merchants such as application processing, underwriting, account set-up, risk management, fraud detection, merchant assistance and support, equipment deployment and chargeback services.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Our Mobile Solutions business, PayOnline, provides relationships and contracts with mobile operators that gives us the ability to offer our clients in-app, premium SMS (short message services, which is a text messaging service), Wireless Application Protocol (WAP)-click, <div style="display: inline; font-style: italic; font: inherit;">one</div> click and other carrier billing services. PayOnline provides flexible high- tech payment solutions to companies doing business on the Internet or in the mobile environment. PayOnline specializes in integration and customization of payment solutions for websites and mobile apps. In particular, PayOnline arranges payment on the website of any commercial organization, which increases the convenience of using the website and helps maximize the number of successful transactions. In addition, PayOnline is focused on providing online and mobile payment acceptance services to the travel industry through direct integration with leading Global Distribution Systems (“GDS”), which include Amadeus® and Sabre®. Key geographic regions that PayOnline serves include Eastern Europe, Central Asia, Western Europe, North America and Asia major sub regions. The PayOnline office is located in Moscow, Russia.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Also part of our transactional services business, Aptito is a proprietary, cloud-based payments platform for the hospitality industry, which creates an online consumer experience in offline commerce environments via tablet, mobile and all other cloud-connected devices. Aptito's easy to use point-of-sale (“POS”) system makes things easier by providing a comprehensive solution to the hospitality industry to help streamline management and operations. Orders placed tableside by customers directly speed up the ordering process and improve overall efficiency. Aptito's mobile POS system provides portability to the staff while performing all the same functions as a traditional POS system.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </div></div>
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CY2020Q3	us-gaap	Interest Payable Current InterestPayableCurrent	240363
CY2019Q4	us-gaap	Interest Payable Current InterestPayableCurrent	43021
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	1101520
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	229589
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	129250
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	222926
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	231764
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	230660
CY2020Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	57331
CY2020Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	267299
CY2020Q3	us-gaap	Liabilities Liabilities	19708110
CY2019Q4	us-gaap	Liabilities Liabilities	18998489
CY2020Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	22572567
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CY2020Q3	us-gaap	Liabilities Current LiabilitiesCurrent	9000382
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CY2020Q3	us-gaap	Minority Interest MinorityInterest	-269867
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	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-48719
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	us-gaap	Net Income Loss NetIncomeLoss	-3668921
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	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-37869
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	us-gaap	Operating Income Loss OperatingIncomeLoss	-2960271
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CY2020Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	834222
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CY2020Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	834089
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CY2020Q3	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	19000
CY2020Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	333602
CY2019Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	91921
CY2020Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	755593
CY2019Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	629651
CY2020Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-2086
CY2019Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	4373
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	62738
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-15726
CY2019Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-14561
CY2019Q2	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	-5537
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1281361
	us-gaap	Paid In Kind Interest PaidInKindInterest	83370
	us-gaap	Paid In Kind Interest PaidInKindInterest	36683
CY2020Q3	us-gaap	Preferred Stock Value PreferredStockValue
CY2019Q4	us-gaap	Preferred Stock Value PreferredStockValue
CY2020Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1156689
CY2019Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1621144
CY2020Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2019Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000
CY2020Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2019Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2020Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2019Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2020Q2	us-gaap	Payments For Proceeds From Deposit On Loan PaymentsForProceedsFromDepositOnLoan	159899
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	439071
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	1622482
CY2020Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2019Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	1684970
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	us-gaap	Proceeds From Issuance Of Unsecured Debt ProceedsFromIssuanceOfUnsecuredDebt
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CY2020Q1	us-gaap	Profit Loss ProfitLoss	-1378026
CY2020Q2	us-gaap	Profit Loss ProfitLoss	-338414
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	2847
	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts
CY2020Q3	us-gaap	Provision For Loan Lease And Other Losses ProvisionForLoanLeaseAndOtherLosses	592200
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	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	319288
CY2020Q3	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	755593
CY2019Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	629651
CY2020Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-182771691
CY2019Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-178750634
CY2020Q3	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	16734374
CY2019Q3	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	16819686
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	46290549
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	48354179
CY2020Q1	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	45897
CY2020Q2	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	7500
CY2020Q3	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	1085363
CY2019Q1	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	15006
CY2019Q2	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	2005840
CY2019Q3	us-gaap	Stock Granted During Period Value Sharebased Compensation StockGrantedDuringPeriodValueSharebasedCompensation	15008
CY2020Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	1647596
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	us-gaap	Share Based Compensation ShareBasedCompensation	1135013
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CY2020Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	200648
CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	314218
CY2020Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2864457
CY2019Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	4040659
CY2018Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	8596466
CY2019Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7462098
CY2019Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	7884729
CY2019Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6864700
CY2020Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2834344
CY2020Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2588922
	us-gaap	Use Of Estimates UseOfEstimates	<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><div style="display: inline; font-weight: bold;"> </div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">The preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the reporting period. Such estimates include, but are <div style="display: inline; font-style: italic; font: inherit;">not</div> limited to, the value of purchase consideration paid and identifiable assets acquired and assumed in acquisitions, amortization of intangible assets, goodwill and asset impairment review, valuation reserves for accounts receivable, valuation of acquired or current merchant portfolios, incurred but <div style="display: inline; font-style: italic; font: inherit;">not</div> reported claims, revenue recognition for multiple element arrangements, loss reserves, assumptions used in the calculation of equity-based compensation and in the calculation of income taxes, and certain tax assets and liabilities, as well as, the related valuation allowances. Actual results could differ from those estimates.</div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">Below is a summary of the Company's critical accounting estimates for which the nature of management's assumptions are material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change, and for which the impact of the estimates and assumptions on financial condition or operating performance is material.</div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 18pt;"><div style="display: inline; text-decoration: underline;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Goodwill</div></div></div></div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify; text-indent: 18pt;">The Company tests goodwill for impairment using a fair value approach at least annually, absent some triggering event that would require an interim impairment assessment.</div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"> </div> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: 0pt;">Significant estimates and assumptions are used in our goodwill impairment review and include the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units and determining the fair value of each reporting unit. Our assessment of qualitative factors involves          significant judgments about expected future business performance, general market conditions, and regulatory changes. In a quantitative assessment, the fair value of each reporting unit is determined based largely on the present value of projected future cash flows, growth assumptions regarding discount rates, estimated growth rates and our future long-term business plans. Changes in any of these estimates or assumptions could materially affect the determination of fair value and the associated goodwill impairment charge for each reporting unit.</div></div></div>
CY2020Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	4498510
CY2019Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	4152433
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	4264624
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	4033521

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$MULN
MULLEN AUTOMOTIVE INC. Stock $muln

2020 Q3 Form 10-Q Financial Statement

#000143774920023901 Filed on November 16, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MULN MULLEN AUTOMOTIVE INC. Stock $muln

2020 Q3 Form 10-Q Financial Statement

#000143774920023901 Filed on November 16, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$MULN
MULLEN AUTOMOTIVE INC. Stock $muln