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| Market Capitalization (Millions $) |
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| Shares
Outstanding (Millions) |
259 |
| Employees |
6 |
| Revenues (TTM) (Millions $) |
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| Net Income (TTM) (Millions $) |
-3 |
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Basanite Inc
PayMeOn, Inc., a Nevada corporation, is a company organized on May 30, 2006.
Paymeon conducts business through three separate wholly-owned subsidiaries:
HLM Paymeon, Inc., Paymeon Brands, Inc., and since February 2017 Basalt America,
LLC (formerly Rockstar Acquisitions, LLC) (“Basalt America”). On
March 19, 2018, the Board of Directors of the Company approved the disposal
of HLM Paymeon, Inc. and Paymeon Brands, Inc. as they made a strategic shift
into the basalt fiber reinforced polymer business with the acquisition of Basalt
America. The disposal of HLM Paymeon, Inc. was effective May 1, 2018. As a result
of this disposal under Accounting Standards Codification (“ASC”)
205-20-45-1E, the Company has presented the assets and liabilities of this segment
as held for sale and as discontinued operations and have reclassified the prior
year balances to reflect this strategic shift.
PayMeOn holds a wholly owned interest in HLM Paymeon, Inc., and Paymeon Brands,
Inc., both Florida corporations, and Basalt America, a Florida limited liability
company. There is currently a limited public market for our common stock which
is quoted on the OTC Markets under the symbol “PAYM”. Our executive
offices are located at 2688 NW 29th Terrace, Building 13, Oakland Park, Florida
33311. Our telephone number is 844-422-7258. We own and operate several websites,
including www.basaltamerica.com. Information that appears on any of our websites
is not part of this report.
Light Electric Vehicle Sales and Apparel Businesses
On March 19, 2018, the Company approved a plan to discontinue any and all operations
related to its prior electric bicycle and apparel businesses. Operations related
to the electric bicycle and apparel businesses were managed through the Company’s
HLM Paymeon, Inc. subsidiary. The disposal of this business will have no effect
on the Company’s continuing operations related to its Basalt America business.
Basalt Fiber Reinforced Polymer products
We acquired Basalt America in February 2017 to capitalize on the introduction
of new technology and products towards the rebuilding of global infrastructure,
especially as it applies to products that reinforce concrete. Basalt America
leverages its licensed intellectual property, technology and processes to produce
Basalt Fiber Reinforced Polymer products that are used as replacements for steel
products that reinforce concrete such as rebar. Basalt America is the exclusive
licensee under a license agreement with Global Energy for its concrete reinforcement
products known as RockRebar®, RockStirrups®, RockMesh®, and RockStaples™.
Basalt America’s products often represent substantial improvements in
strength and resistance relative to existing “steel industry” products.
Our products will be produced in Oakland Park, Florida. We intend to sell our
products primarily to government and commercial construction contractors, and
home builders.
Company Address: 2660 NW 15th Court Pompano Beach 33069 FL
Company Phone Number: 532-4653 Stock Exchange / Ticker: PAYM
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Customers Net Income grew by |
PAYM's Customers Net Profit Margin grew to |
49.74 % |
8.77 %
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| Basanite Inc
Basanite Inc, a prominent company in the industry, recently released their financial statements for the January to March 31, 2024 fiscal period. This period saw the company achieving a balanced position, as compared to the previous year and the preceding quarter. While the revenue remained unchanged, there was a significant improvement in net loss when compared to the same quarter of the previous year. Let us explore the details and implications of Basanite Inc's financial performance during this period.
Revenue remains stable
During the January to March 31, 2024 fiscal period, Basanite Inc reported revenues of $0.00 million. This figure was identical to the revenue reported in the comparable quarter of the previous year. Despite achieving balanced books, it is worth noting that the revenue remained unchanged quarter-over-quarter. Stability in revenue is a promising sign for Basanite Inc, particularly during challenging market conditions.
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| Basanite Inc
roduction
In a surprising turn of events, Basanite Inc. reported a deficit per share of $-0.02 for the fiscal third quarter of 2023, in stark contrast to the break-even point of $0.00 in the previous year. This unexpected decline has sparked concerns among analysts, especially as the company's revenue remained stagnant at $0.00 million, signaling potential slowing demand. Nevertheless, Basanite Inc. managed to reduce its net deficit from $-0.662 million to $-0.500 million, reflecting some positive elements amidst the challenging financial results.
Sluggish Revenue Growth
The fact that Basanite Inc.'s revenue remained unscathed at $0.00 million in the fiscal third quarter of 2023 is alarming, particularly when compared to the $0.24 million generated in the same period a year earlier. This suggests a stagnation in the company's business activities, raising concerns about its ability to attract new customers and maintain its market share. Furthermore, the absence of sequential revenue growth indicates a lack of immediate prospects for improvement.
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| Basanite Inc
Date: October 5, 2023
In a major turnaround, PAYM reported remarkable stability and improvement in its financial performance for the April to June 30, 2023, financial period compared to the previous year. The company achieved a significant milestone by reaching a break-even point of $0.00 per share, compared to a loss of $-0.01 per share recorded a year earlier. This positive development is expected to considerably boost investor confidence in the company.
Revenue, however, remained unchanged at $0.00 million during the same financial interval. The stability in revenue can be attributed to strategic adjustments implemented by PAYM to streamline operations and optimize the allocation of resources. It is worth mentioning that in the corresponding period a year ago, the company recorded revenue of $0.29 million.
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| Basanite Inc
Basanite Inc. is a company that specializes in the manufacturing and commercialization of advanced composite materials, including BasaFlex, BasaFiber, BasaRebar, and BasaBoard. The company has been making significant progress in the composite materials industry, thanks to its innovative products and approach to business.
Despite the recent financial downturn, Basanite Inc has continued to make strides towards its ultimate vision, which is to revolutionize the construction industry by introducing innovative composite materials that are stronger, more flexible, and more cost-effective than traditional materials like concrete and steel.
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| Per Share |
Current |
| Earnings (TTM) |
-0.02 $ |
| Revenues (TTM) |
-
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| Cash Flow (TTM) |
0 $ |
| Cash |
0 $
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| Book Value |
-
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| Dividend (TTM) |
0 $ |
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| Per Share |
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| Earnings (TTM) |
-0.02 $
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| Revenues (TTM) |
- |
| Cash Flow (TTM) |
0 $ |
| Cash |
0 $
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| Book Value |
- |
| Dividend (TTM) |
0 $ |
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0.64% 