Effective July 10, 2020, the Board of Directors of Net Element, Inc. appointed Mr. John Roland as a Director of the Company to fill the vacancy from Mr. Wiegand's resignation. John Roland, who is 78 years old, is an accomplished broadcast media professional, news presenter and reporter. Since January 2009, John has been an independent media and public relations consultant. The Board of Directors of the Company concluded that Mr. Roland should serve as a Director of the Company in light of his media and public relations experience and his general financial experience. Mr. Roland was also appointed to serve as a member of the Company's Audit Committee.