PAYMEON, INC. (OTCMKTS:PAYM) Files An 8-K Completion of Acquisition or Disposition of Assets
ITEM 2.01
COMPLETION OF AN ACQUISITION OR DISPOSITION OF
ASSETS
Effective November 18, 2016, the Company assigned all of its
interests in Prodeco Technologies, LLC, held by Ebike, LLC and A
Better Bike, LLC to Tavone Family Holdings, LLC in consideration
of a total cash payment of $30,000 to an Assignment and
Assumption Agreement dated November 18, 2016. The Company owned
its Prodeco Technologies LLC interests through its 50% ownership
of Ebike, LLC and A Better Bike, LLC.
The foregoing summary of the terms and conditions of the
Agreement do not purport to be complete and is qualified in its
entirety by reference to the full text of the Agreement attached
as an Exhibit hereto, and which is hereby incorporated herein by
reference.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(d)
Exhibits.
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ExhibitNo. |
Description |
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10.1 |
Assignment and Assumption Agreement dated November 18, 2016 |
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About PAYMEON, INC. (OTCMKTS:PAYM)
PayMeOn, Inc. (PayMeOn), formerly MMAX Media, Inc., owns and operates products that are focused on monetizing consumer influence through social, local and mobile marketing. The Company is engaged in the sale of electric bicycles, hoverboards, and other related products and accessories, at its Website, www.irideelectric.com, and at its retail location located in Fort Lauderdale, Florida. PayMeOn holds a stake in Prodeco Technologies, LLC, which is a researcher, developer, marketer and manufacturer of electric bicycles. The Company sells ProdecoTech electric bicycles online through its Website, www.irideelectric.com, under a non-exclusive dealer agreement. In addition to ProdecoTech electric bicycles, the Company also sells electric bicycles made by other manufacturers. PayMeOn holds an interest in HLM Paymeon, Inc. and Paymeon Brands, Inc. Paymeon Brands, Inc. is formed to develop, market, manage and monetize lifestyle brands and products. PAYMEON, INC. (OTCMKTS:PAYM) Recent Trading Information
PAYMEON, INC. (OTCMKTS:PAYM) closed its last trading session down -0.010 at 0.250 with shares trading hands.