PAYMEON, INC. (OTCMKTS:PAYM) Files An 8-K Other EventsItem 8.01. Other Events.
On October 31, 2018, Paymeon, Inc. (“Company”) announced in a press release that it had received new funding. As of November 2, 2018, the Company has received $450,000 from accredited investors. The Company has also received indications from additional accredited investors for additional investment of $75,000. Terms of the funding provided for the purchase by accredited investors of restricted common shares from the Company for a price of $0.05 per share. The current investment amount will result in the issuance of 9 million restricted common shares to the investors. Investors also received warrants to purchase the same number of shares for a cash exercise price of $0.075 per share. The warrants have a term of 5 years and are callable by the Company should the closing price of its common shares meet or exceed $1.00 per share for 20 consecutive trading days.
Item 9.01. Financial Statements and Exhibits.
(d)
Exhibits.
99.1
Press release of Paymeon, Inc., dated October 31, 2018
PayMeOn, Inc. ExhibitEX-99.1 2 paym_ex99z1.htm PRESS RELEASE Press Release EXHIBIT 99.1 PayMeOn,…To view the full exhibit click here
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.
