With the success of its nine-month GLP safety (tumorigenicity) and biodistribution animal model study in Parkinson’s Disease (PD) showing a completely clean record, as zero tumor growth was observed across a batch of 300 rodents injected with the company’s ethically and proprietarily-derived human neural stem cells (hpNSCs), International Stem Cell Corp. has subsequently taken a major step to increase the company’s market presence and up-list to a major exchange, announcing a reverse stock split in order to tighten the overall share structure. Since the July 29 split announcement, the company’s ticker has been ISCOD, and it will remain so until the typical period of approximately 20 days has elapsed.

The recently completed nine month GLP safety study, which capitalizes on a long track record of successfully demonstrated results stretching back to such examples as the 2013 work with Duke University’s Clinical Research Institute, was the last step needed for International Stem Cell to secure the previously announced landmark phase 1/2a clinical trial in PD with the Australian Therapeutic Goods Administration via the company’s recently-formed Australian subsidiary, Cyto Therapeutics Pty Ltd. The company has quite a preclinical dataset to back up its novel approach to treating PD with injected hpNSCs, which are self-renewing multipotent precursor cells to the main types of cells that make up the CNS (central nervous system), created using the company’s proprietary parthenogenetic technology, which chemically differentiates unfertilized human eggs (oocytes) into pluripotent stem cells (capable of giving rise to many different cell types).

This extensive preclinical dataset the company has thus far amassed, showing zero evidence of tumor formation at even high dosages (including proof-of-principle PD cohort studies and additional studies focused on safety), combined with direct evidence that injected hpNSCs exhibit a neuroprotectant capacity, as well as an ability to actively recover neurons and address the core motor function symptomatology of PD characterized by dopamine deficiency, is an extremely positive forward indicator to investors. International Stem Cell Corporation has been steamrollering forward with incredible momentum in 2015, ever since the announcement in December of last year that the EU’s Court of Justice ruled in favor of the company’s core technology patent applications, declaring them to be effectively outside the scope of prohibitions on patenting embryonic stem cells, due to a laser-like focus on only ethical derivation of non-embryonic stem cells from unfertilized eggs. Ethically-derived sourcing is a key advantage for International Stem Cell Corporation, especially in the current environment, where a political and ethical debate about stem cell technology is heating up.

Highlights for the company so far this year include solid Q1 results reported in March, showing a 74 percent uptick in gross margins on the strength of a 76 percent increase in operating income from the company’s cosmeceutical and biomedical commercialization. Income growth to $1.62 million in revenue was led by a 5 percent sales jump at the company’s Lifeline Skin Care subsidiary, which specializes in providing rejuvenating skin care products based on nanosphere-enscapsulated proteins extracted from parthenogenetic stem cells. Additionally, the company made waves in the regenerative therapy industry with a talk given in May at the International Society for Cellular Therapy’s (ISCT) annual meeting by the company’s CSO, Ruslan Semechkin, Ph.D., highlighting the potential of hpNSCs for treating PD. The ISCT is the leading global association focused on innovative preclinical and translational cell therapy product development, and Dr. Semechkin’s talk on hpNSC therapy left a lasting impression on key industry participants who attended the Regeneration and Nervous System Repair session at the organization’s 21st annual meeting in Las Vegas.

This move to reverse split the common stock and up-list to a major exchange comes at an auspicious time for International Stem Cell Corporation as the company rockets towards commercialization of a potentially genuine treatment option for PD sufferers and their families. With GlobalData estimates on the PD treatment market running into the $5.3 billion range within the next seven years alone, growing at a compound annual rate of over four percent, International Stem Cell Corporation is poised to become one of the big names in PD treatment, especially considering the company’s ample IP position. The company has made a herculean effort thus far to globally secure its core technology, as well as specific pluripotent human parthenogenetic stem cell (hpSC) lines, with 16 issued patents and 91 pending applications spanning 15 patent families, as well as eight more pending applications across four other patent families related specifically to skin care products. International Stem Cell Corporation has even licensed an additional portfolio of 11 issued and 14 pending patents/applications covering eight patent families in order to further secure its broad-spectrum and rapidly developing hpSC treatment pipeline.

This pipeline includes developing the same hpNSCs used to treat PD, in order to provide stroke patients with the first real solution to this leading cause of adult disability, and the company already has robust preclinical evidence that injection of these highly-pure hpNSCs can be used to actually reverse functional deficits when applied even several weeks after the initial event. This one development would be a major commercial victory for the company and it would also largely establish the concrete viability of its parthenogenetic technology for creating commercial-scale, implant-ready cell banks for the ischemic (roughly 87 percent of cases) stroke treatment and other markets. Not to mention being a game-changer for the roughly 691,650 people every year in the U.S. who suffer from ischemic strokes. People whose only current option is costly, laborious, logistically difficult to implement, and often ineffective cognitive/functional rehabilitation. Commercial success in either PD or ischemic stroke would roundly validate the company’s underlying therapeutic approach for treating other diseases and disorders as well, potentially opening a floodgate for the company and allowing them the kind of financial muscle and industry clout needed to knock down additional targets with hpSC-based therapies.

The company’s hpSC technology is currently being developed for areas such as age-related macular degeneration via parthenogenetically-derived human retinal epithelium (RPE) cell therapy, as well as for corneal blindness and many other eye diseases/disorders via the production of corneal cells and whole corneal tissue. This same technology also shows great promise for treating metabolic (and other types of) liver diseases, such as Crigler-Najjar syndrome (inherited), and the company has already successfully created and characterized stem cell-derived liver cells under its CytoHep program, whose transplantation has been shown to effectively delimit the brain and nerve damage associated with Crigler-Najjar syndrome in preclinical animal models.

If one observes all of these emerging hpSC treatment vectors from a wide angle, it becomes strikingly apparent that we could potentially be treating a whole host of degenerative and other diseases/disorders with 100 percent ethically derived stem cell technology. International Stem Cell Corporation is at the forefront of this industry and the shoring-up of its share structure in anticipation of up-listing to a major exchange, in conjunction with the upcoming landmark clinical trials in PD, for which the company has already comfortably sustained the cost on and manufactured a cell bank of over 2.6 billion high-purity hpNSCs (enough to satisfy all foreseeable clinical trial needs), is an extremely bullish indicator to the investment community about where the company is heading.

Continued success of the company’s already commercialized cosmeceutical and biomedical product operations forms a key backdrop for International Stem Cell Corporation when it comes to funding ongoing clinical and preclinical efforts, further differentiating the company (alongside its strong IP position) from competitors.

Take a closer look by visiting www.internationalstemcell.com

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America Resources Exploration is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves. Currently, the company holds a collection of leaseholds in promising production areas around the country – including parts of Oklahoma, Texas and Utah. By diversifying its interests and remaining flexible, AREN is able to maintain steady production levels that ensure operational consistency, even in less-than-favorable market conditions.

In recent months, AREN has made considerable progress toward expanding its market share in the domestic oil and gas industries. Despite slumping commodity prices that continue to hamper industry growth, the company has acquired a collection of production assets in its current operating regions, dramatically strengthening its strategic positioning in some of the country’s most prolific oil production areas. Most recently, AREN announced its acquisition of a fractional interest in 56 oil and gas wells located in Oklahoma.

The company’s commitment to expanding upon its portfolio of production assets is a long-term tactic that leverages the benefits of the current lower commodity price environment. In particular, AREN’s growth strategy centers on the acquisition of oil fields from distressed third parties at a substantial discount to value. When oil and gas prices recover, these efforts are expected to place AREN into a strengthened position to increase its production levels in a financially-viable manner, effectively promoting improved cash flow and increased value for the company’s shareholders.

AREN is committed to becoming a world leader in hydrocarbons production, requiring the company to continuously achieve superior financial and operational results while simultaneously adhering to high ethical standards. Moving forward, the company will continue to lean on the exceptional quality of its workforce in order to attain a competitive edge in the oil and gas industry. This advantage, when combined with disciplined and selective evaluation of capital investment opportunities, will serve as the foundation for AREN’s pursuit of its goal of achieving record revenues for the 2015 calendar year.

For more information, visit www.america-resources.com

Recent strides toward sustainable market growth through the Power Africa Initiative have investors of Dominovas Energy Corp. (OTCQB: DNRG) excited for what the months to come may hold. On Monday, the company built upon this excitement when it announced a private placement that’s expected to provide up to $10 million of funding to serve as working capital throughout this period of expansion. While its proprietary RUBICON™ solid oxide fuel cell system certainly has a major part to play in the company’s recent success, Dominovas’s experienced management team has been the guiding force behind its current strategic positioning.

The Dominovas leadership team, along with its manufacturing partners, possesses over 200 years of combined business experience at the executive level. Benefitting from first-hand experience with engineering, supply chain management, marketing, legal and construction management, Dominovas has burst onto the scene since being acquired by Western Standard Energy Corp. in early 2014. In particular, the company’s historic partnership with the United States government, making it the only private sector partner to the Power Africa Initiative, highlights the market potential provided by a well-seasoned team of executives.

Leading the company’s management team is Neal Allen – chairman, president and chief executive officer of Dominovas. Allen brings a host of management experience to the company, having previously served as the principal shareholder of a private family office with a collection of diversified endeavors. Also on the Dominovas management team is Dr. Shamiul Islam, serving as the executive vice president of fuel cell operations. Islam is noted as one of the world’s foremost experts on solid oxide fuel cell technology, and he possesses a collection of patents applicable to fields related to the company’s proprietary technology.

In addition to its management, the Dominovas leadership team includes four key team members operating in the company’s primary international markets. Emilio DeJesus is a member of this team, serving as the president of Dominovas Energy AFRICA. In this position, DeJesus provides pertinent intelligence regarding the barriers of entry and political climate of African nations, as well as locating suitable business partners. In recent weeks, he has played an integral role in the development of the company’s RUBICON deployment plan for the sizable Power Africa Initiative.

Bringing together a strong strategic position in an expansive energy market with an experienced and well-rounded leadership team, Dominovas is primed to achieve strong financial growth for the foreseeable future. For prospective shareholders, the company’s promising outlook makes it an intriguing investment opportunity moving forward.

For more information, visit www.dominovasenergy.com

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Texas-based Galenfeha is an engineering and product development company constantly researching new technologies to ensure their clients are always on the leading edge. The company considers this technology leadership approach critical to their industrial position and the future of their customers. One of the most important aspects in this forward-thinking orientation is their environmental awareness, which they feel will continue to grow in importance as a mark of responsible business, and will help drive and ensure success.

Galenfeha doesn’t just grab business. The company evaluates each new project carefully, on a case-by-case basis, to be certain that it meshes with their overall mission, while being in the best interest of shareholder partners and responsible business. To this end, Galenfeha offers uniquely efficient and innovative products.

Their DLP-S Solar Powered Chemical Injection Pump was engineered to offer high reliability, simplicity in operation, and efficiency in serviceability. It is built from the highest grade 316 SS, and is able to withstand the harshest environments. The multi-purpose pump is available in a range of configurations, and can be custom matched to specific applications.

The DLP-P Pneumatic Chemical Injection Pump is unique in combining the rate precision of a solar powered digital control system and the reliability of a pneumatic pump. Together, it brings both ruggedness and reliability to the forefront of chemical injection technology.

iWAV is a system that enables complete control of your entire chemical injection program, offering maximum returns on one of the single highest costs involved in operating a well site. Whether communication is radio, cellular, satellite, or direct, the iWAV is ready to meet the needs of any size operation.

In the stored energy area, Galenfeha’s Lithium iron Phosphate (LiFePO4) is the ideal light weight replacement for the lead-acid battery, and will require no change to existing systems. It eliminates the solar regulator and can decrease the size of solar panels.

For more information on the company, visit www.galenfeha.com

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Latitude 360 is an award-winning pioneer of a dining and entertainment venues that combine premier upscale casual dining with numerous state-of-the-art entertainment choices. The company develops, constructs and operates cutting-edge Latitude 360 venues ranging from 35,000-85,000 sq. ft., packed full of eating and entertainment options that appeal to a broad base of guests, private events and corporate clients.

Through its three current award-winning locations in Jacksonville, Florida, Pittsburgh, Pennsylvania, and Indianapolis, Indiana, Latitude 360 employs roughly 500 talented individuals working to deliver the brand’s unique “360 EXPERIENCE” which fuses the magic of exceptional food and beverage with multiple entertainment options in upscale, contemporary-designed venues. Key offerings at each 360 location include Las Vegas-style live performance showroom, a feature bar featuring the area’s top musicians and/or DJs, luxury bowling, dine-in movies, high-definition sports theatre, game arcade and luxury cigar lounge and many choices of private meeting space.

In 2014 Latitude 360 launched the first-of-its-kind monthly club membership program which provides guests with a cache of monthly entertainment assets at a value price as well as exclusive access to a 360 Club Concierge service – all for a monthly fee. The program has quickly grown to more than 5,000 monthly paying members.

Latitude 360 recently expanded its entertainment offerings when it acquired Major League Fantasy (MLF), a leader in the daily fantasy sports industry. By implementing “360 Fantasy Live” into is existing locations, Latitude 360 is making a strong entrance into a rapidly growing market expected to reach $6 billion-$10 billion by year-end 2016. The acquisition of MLF allows Latitude 360 to position itself as one of the first live, multimedia venues to offer in-house, high-stakes, competitive daily fantasy events.

Led by an experienced and visionary management team, Latitude 360 is focused on further expanding its brick and mortar locations and anticipates opening additional 360 venues overseas and domestically in major cities like New York, Boston, Atlantic City and Chicago.

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Lingo Media Corp. (OTCQB: LMDCF) is a leader in the development and marketing of English language learning products and services to support learners of English throughout various stages of life. The company operates through two distinct business units – including ELL Technologies and Lingo Learning – to deliver both online and print-based technologies and solutions around the globe. In addition to its strong presence in China’s education market, which includes access to more than 300 million students, Lingo is currently working to expand its global reach into Mexico and other Latin American markets.

With an established presence in the language learning software market, Lingo is in a formidable position to capitalize on the industry’s forecast growth in the coming years. According to a comprehensive report by Ambient Insight, global sales of English language learning products are expected to record a compound annual growth rate of 11.1 percent from 2013 to 2018, accounting for an estimated $3.8 billion in the final year of the period. The report also indicates that Asia and Latin America are two of the three regions expected to achieve the highest growth rate over the five year period, with China maintaining its presence atop the list of top buying countries.

In the first quarter of 2015, Lingo successfully leveraged this market performance to record strong financial growth. The company realized a 176 percent year-over-year boost in revenue, as well as a recording significantly improved profitability. In the future, Lingo expects to build on these results by capitalizing on favorable sales growth opportunities in Latin America.

In recent weeks, the company has placed emphasis on developing a presence in Mexico. Last month, Lingo announced a partnership with the University of Guadalajara, the second largest academic institution in Mexico, which will provide accreditation to its online English courses. Through this agreement, the company will add assessments of students’ written and speaking skills by university professionals to the benefits of its innovative learning system. Lingo also entered into a marketing agreement with ISA Corporativo for advertising services in metro stations throughout Mexico. This deal is expected to greatly increase the company’s brand awareness throughout the crucial market.

“This advertising will provide significant exposure for our brand in Mexico to not just students, teachers, governments and corporations, but to the public at large,” Michael Kraft, president and chief executive officer of Lingo, stated in a news release. “We look forward to becoming a market leader in Mexico and advancing our strategy throughout Latin America to secure additional new contracts.”

Through its continued global expansion, Lingo is living up to its motto by “Changing the way the world learns English.” For prospective shareholders, this progress, as well as the company’s recent financial performance, demonstrates the immense market potential of Lingo in the coming months. Look for Lingo to continue making efforts directed at increasing its market share in both Asian and Latin American markets moving forward, developing channels in which to promote sustainable returns for the foreseeable future.

For more information, visit www.lingomedia.com

Manufactured homes have had a bad rap over the last few decades, but thanks to significant improvements in quality and forward-thinking companies like Wisdom Homes of America, the tide has turned.

Wisdom Homes of America is a Tyler, Texas-based owner and operator of manufactured home retail centers. Forget your prior stigma of mobile/manufactured homes – WOFA’s manufactured homes are systematically engineered and designed with cutting-edge, computerized technology to deliver exceptional high-quality and structured homes that meet strict HUD standards.

Aside from durability, today’s manufactured homes are aesthetically appealing. While homebuyers can choose from many of WOFA’s pre-existing floor plans, the homes are highly customizable to fit the homebuyer’s individual lifestyle and budget. Ranging from 1,800-2,500 square feet, they offer more than 1,00 models and variations with numerous additional features like wrap-around porches, vaulted ceilings, wood floors, rock fireplaces and state-of-the-art appliances.

Adding another measure of hardy construction, the homes are permanently affixed to land, a characteristic that leads to WOFA’s entrance into land/home packages. The company sees an adjacent market opportunity of approximately $10 billion annually in real estate acquisition, site preparations, ancillary services, and lending and lease communities for the manufactured housing industry that requires financing capital.

Much of this market opportunity stems from broader increases in manufactured home sales. In 2014, the sales of new manufactured homes in the U.S. exceeded $4.1 billion, up from $3.8 billion in 2013, and is expected to reach $4.5 billion in 2015. The industry growth is driven by demand for quality, affordable housing.

Despite all their structural, foundational and aesthetic perks, manufactured homes are often less expensive than conventional housing. According to WOFA, purchasers of manufactured homes realize cost savings of up to 60% less per square foot compared to conventional site-built homes.

More proof of the re-invention of manufactured homes can be found in WOFA’s books. The company’s total revenue for the second quarter topped $1.2 million, and management projects revenues of at least $4 million by the end of 2015 – WOFA’s first full year owning and operating its home retail centers.

WOFA’s revenue-generating growth model calls for expansion in the retail sector through the addition of related services and the opening of new retail centers in Texas, which sells 3x more manufactured homes than any other state.

Banking on rising recognition of today’s modern manufactured homes, its strong revenue model and strategic location in the hot Texas housing market, WOFA has set a five-year goal of opening 30 additional retail center locations.

For more information visit www.wisdomhomesofamerica.com

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Back when oil was at $100 a barrel and the Obama administration first started showing signs that they were coming after oil and gas producers with new methane regulations, it was a hard sell to get the industry to take a real look at the potential of emerging wellhead capture and conversion technology. But now that West Texas Intermediate (WTI) crude oil is trading around $46 a barrel and the EPA’s Natural Gas STAR Methane Challenge Program draft framework is out – putting handles on the still-voluntary curbing of natural gas flaring, a national framework expected by many in the industry to drive already taxing state-based regulatory fees and fines on flaring to higher and higher levels – even companies who decided to bite the state fees bullet on not having access to natural gas pipeline tie-ins and simply flare, are turning their attention to such technology. With significantly tighter margins on the horizon for the foreseeable future, as energy producers adjust to the new normal of lower prices, squeezing every last drop of revenue out of producing assets has quickly become the industry’s new watchword.

Upon closer examination of the regulatory landscape, we see that many states are already leading the charge on the issue of gas flaring, backed up by federal as well as global initiatives designed to satisfy environmental, as well as economic concerns. Early last month a team of four New Mexico Democrats, led by Udall and Heinrich, pushed the Obama administration to level strong rulings on methane emissions from oil and gas producers ahead of the EPA draft framework. This is a move clearly understood by operators across the spectrum in the oil and gas industry to be a signal flare for what is likely to come, with state regulators picking up the federal initiatives for voluntary self-regulation and turning them into even stricter fee-based protocols, with or without mandatory federal targets. For a state like New Mexico, which delivered over 12.7 million bbls of crude and some 117 MMcf of gas in March 2015 from over 48,000 currently producing wells, which has some of the most concentrated levels of methane nationwide and is one of the top country’s top producers from federal lands, this move calling for amped-up methane regulations is an unmistakably clear shot across the bow of the industry, signaling the inevitability of much tighter controls on the practice of gas flaring. In North Dakota, the rules implemented a year ago requiring that oil companies capture 90 percent of natural gas by 2020 were recently highlighted by the state’s top regulator as being in jeopardy due to slumping energy prices, in large part as a direct result of key natural gas infrastructure projects being put on hold.

The idea of avoiding regulatory fees and fines on flaring, and even generating revenue from otherwise flared, excess natural gas that cannot be tied-in to pipelines due to insufficient national infrastructure, or due to the slow pace of new pipeline rollouts in the country’s major production regions, is now an exceptionally attractive proposition to operators. The simple truth is that, even with an estimated $54 billion spent since 2009 on new natural gas pipeline capacity in the U.S. and another $104 billion spend on the table for more networking by 2018, many operators will not have access to pipelines and will be forced to either flare and eat the associated costs, or get serious about wellhead capture/conversion technology.

One of the few publicly trading companies at the forefront of this nascent industry is Well Power, Inc. (OTCQB: WPWR), which is continuing to work towards commercialization of a robust, exclusively licensed Micro-Refinery Unit (MRU) technology that can be deployed near the wellhead and used to process high-volume raw natural gas outputs into clean power and Engineered Fuels™, such as no-sulfur diesel, diluents, and pipeline-quality synthetic crude. In order to prepare for the advent of inevitable industry changes worldwide, such highly economical, mobile and scalable solutions must be developed, and the economies of scale must be sufficiently advanced to the point where smaller operators also have access to ubiquitous capture/conversion systems.

With looming data points on the global scene like the U.N. and World Bank Group’s joint Zero Routine Flaring by 2030 initiative, which is already endorsed by nine countries and major sector players like Royal Dutch Shell (NYSE: RDS.A and RDS.B) and Statoil (NYSE: STO), the true demand for such capture/conversion technology as Well Power’s MRU is becoming increasingly apparent. In countries like Nigeria, which lost $868 million last year due to flaring according to the Nigerian National Petroleum Corporation, operators like Midwestern Oil and Gas have already pledged to completely end the practice, and to do so well ahead of the Zero Routine Flaring by 2030 target. The humble little MRU systems currently being ramped towards commercialization by WPWR in the state of Texas could be the key to helping countries like Nigeria realize their methane emission objectives, especially since the technology’s potential for rapid deployment addresses the fundamental problem facing countries like Nigeria, and many, many others. Namely, the lack of a robust pipeline networks or sufficient CNG/LNG infrastructure, a problem we generally faced by countries all across the globe, and even here in the United States where we enjoy one of the most comprehensive natural gas distribution networks on the planet.

How will small countries without sufficiently advanced pipeline infrastructures ever meet the rapidly coalescing global regulatory targets for methane emissions without robust, mobile, scalable and above all affordable wellhead capture/conversion technology? The short answer is that they won’t. The oil and gas production industries in such countries, in an environment of lower energy prices, will eventually end up crippled by regulatory costs in ways that make the challenges faced by domestic wildcats here in the U.S. seem like a walk in the park. Well Power is dedicated to helping oil and gas operators of any size not only meet the increasingly strict obligations of regulatory oversight, but actually generate vital revenue streams as well. Revenue streams which capitalize on globally apparent lack of CNG/LNG or refinery capacity, empowering operators to not only generate immediately usable electricity at the well site, but ready-for-market Engineered Fuels that can be shipped off to local or global energy-hungry consumers.

To dig deeper, check out the MRU technology by visiting www.wellpowerinc.com

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Since its founding in 1964, Continental Stock Transfer & Trust has unwaveringly held to its initial mission to provide full support to smaller and mid-sized emerging and growth company. The recipe for this vision also remains the same: superior client responsiveness and uniquely tailored business solutions.

Continental is an independent, privately held, family-owned corporation staffed with some of the industry’s most experienced experts – all the makings that contribute to its rank as the fourth largest agent in the United States.

While large transfer agents work on larger companies with hundreds of thousands of shareholders, Continental focuses on companies with 50,000 or fewer shareholders. The result is hands-on, immediate access. In fact, Continental offers 24/7 access to its senior-level experts.

Core functions of a typical stock transfer agent include management of stock and/or bond certificates, acting as an intermediary for publicly traded companies, and handling lost, destroyed or stolen certificates. When that transfer agent goes beyond the fundamentals to provide personal attention and numerous offerings via innovative technology and an exceptional execution strategy- as does Continental – the result is a lengthy tenure solidified by sound reputation.

In addition to transfer agent essentials, Continentals’ extended offerings include employee plan administration, IPO and SPAC services, annual meeting and proxy services, corporate actions and escrow services, EDGAR/XBRL filing, stock plan administration, dividend reinvestment plan and direct purchase plan administration, and dividend disbursement services.

Through 50 years of experience and leadership, Continental has maintained its core vision and commitment, strengthening the agent’s stellar track record of superior customer satisfaction.

For more information, visit www.continentalstock.com

Net Element, a provider of global mobile payment technology solutions and value-added transactional services, today presented historical financial results for PayOnline for periods prior to Net Element’s ownership of the online payment processing company.

PayOnline processes online payments for over 10 million active consumers and thousands of merchants in the Russian Federation, Europe and Asia. In the first quarter of 2015, PayOnline recorded net income of $74,474 on revenues of $1.2 million. For full-year 2014, the company recorded net income of $428,520 on revenues of $6.7 million.

Net Element also highlighted several of PayOnline’s recent achievements, including the July 2015 release of its Pay-Travel product; the signing of a three-year contract with certain international dating networks to provide a minimum processing commitment of $300 million and minimum net revenues to PayOnline of $1.2 million; and the launch of payment processing in Kazakhstan.

In May 2015, Net Element entered into a definitive agreement to acquire PayOnline for up to $8.4 million to create “a unique platform for further consolidation and positions [Net Element] to lead in the fragmented and growing emerging market payments industry.”

Providing insight to the market potential for PayOnline, the 2014 McKinsey Global Payments Map released October 2014 pegs Russia as the world’s sixth largest payments market, accounting for $50 billion in payments with a rapidly growing online population. The report also states that card issuance is growing at 30% per year.

Net Element plans to integrate PayOnline’s payments platform into its existing global payments-as-a-service network to expand its transaction processing offerings. Upon full integration, Net Element global merchants will have access to a broad array of value-added services including card2card transfer, payment split and the highest level of data security (Validated Level 1 PCI DSS Compliance).

Net Element assumed operational and financial control of PayOnline and its subsidiaries as of May 20, 2015, and will consolidate PayOnline results in the second quarter from May 20, 2015, to June 30, 2015.

For more information visit www.netelement.com