Paymeon Announces Expansion of Its "I RIDE ELECTRIC" Business to Premier Retail Location

Company set to expand its portfolio of products and to create branding and apparel around these new products.

Fort Lauderdale, FL, October 23, 2015 --( Paymeon, Inc. (ticker symbol: PAYM) announced today that it has entered into a lease for approximately 4,100 square feet of premier retail storefront space in Fort Lauderdale. According to Ed Cespedes, CEO of Paymeon, “The highly visible location on North Federal Highway is the ideal location to begin the expansion of our 'I Ride Electric' business. Prior to the acquisition of this space, we have primarily marketed our business online.” Mr. Cespedes continued, “We expect the substantial customer traffic around our new location will help accelerate sales of our existing electric bicycle products. In addition, we have begun aggressively expanding product lines and have recently added self balancing scooters, also known as 'hoverboards', to our offerings. We expect hoverboards to be in substantial demand during the upcoming holiday season.”

Paymeon’s largest shareholder, Vincent L Celentano, added that “the company is broadening its growth plan to include products around extreme sports, including apparel and other extreme sports items. He continued, “Having a flagship store as a showcase to display it all is the perfect foundation for us.”

The company expects to announce details of its expansion and branding plans in the near future.

This press release includes management assumptions about our business prospects, financial forecasts, projections and other forward looking statements regarding PayMeOn, Inc. its business, prospects and potential transactions it is considering. This forward-looking information is based on management assumptions and expectations which, while considered reasonable by PayMeOn management as of the date of this press release, are subject to risks (including risks that transactions contemplated in this press release may not be consummated or that terms of transactions contemplated in this document may change), uncertainties, and other factors that may cause actual results and performance to materially differ from results or performance expressed or implied by the forward looking statements. In addition, there is no guarantee that PayMeOn will ever qualify for or seek a national market listing. A description of these risk factors can be found in our Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission ("SEC"), and in our other filings with the SEC, which are available at PayMeOn, Inc. undertakes no obligation to publicly revise the forward-looking statements presented, except as required by law. This document is not intended to solicit any investment. Potential investors in PayMeOn should review PayMeOn's public filings prior to any investment.
PayMeOn, Inc.
Ed Cespedes