Net Element 8K Entry into a Material Definitive Agreement | SEC 15 Dec 10

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Name	Type of Operation	State of Inc.	% Ownership	Date of Organization	Domestic or Foreign
Openfilm, LLC	Online Media	FL	100%	November 2007	USA

Openfilm, Inc	Payroll Processing - Openfilm, LLC	DE	100%	January 2009	USA

Openfilm Studios, LLC	Contests and Film Production	FL	100%	September 2010	USA

Netlab Systems, LLC	Intellectual Property Holdings	FL	100%	October 2010	USA

Zivos, LLC	Research and Development	n/a	100%	April 2008	Ukraine

Korlea-TOT	Joint Venture	n/a	51%	July 2008	Czech Repubic

Green1 Energy, LLC	Alternative Energy/Solar Business	FL	100%	February 2008	USA

Net Element Inactive 8-KEntry into a Material Definitive Agreement