$BASA
BASANITE, INC.

2014 Q3 Form 10-Q Financial Statement

#000155335014000975 Filed on August 19, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $10.81K $592.00 $2.726K
YoY Change 1256.46% -78.28% -72.17%
Cost Of Revenue $8.808K
YoY Change
Gross Profit $2.003K $592.00
YoY Change 151.32%
Gross Profit Margin 18.53% 100.0%
Selling, General & Admin $33.32K $13.30K $110.5K
YoY Change -40.03% -87.96% 136.01%
% of Gross Profit 1663.65% 2246.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $304.00 $305.00 $2.338K
YoY Change -87.18% -86.95% -1.23%
% of Gross Profit 15.18% 51.52%
Operating Expenses $162.0K $158.5K $962.4K
YoY Change -57.44% -83.53% 86.35%
Operating Profit -$160.0K -$157.9K -$959.7K
YoY Change -57.88% -83.54% 89.41%
Interest Expense $103.1K $115.9K $122.9K
YoY Change -44.4% -5.68% 2663.04%
% of Operating Profit
Other Income/Expense, Net -$103.1K -$115.9K -$122.9K
YoY Change -44.4% -5.68% 2663.04%
Pretax Income -$263.1K -$273.9K -$1.083M
YoY Change -53.46% -74.7% 111.81%
Income Tax
% Of Pretax Income
Net Earnings -$263.1K -$273.9K -$1.083M
YoY Change -53.46% -74.7% 111.81%
Net Earnings / Revenue -2433.23% -46261.49% -39712.25%
Basic Earnings Per Share
Diluted Earnings Per Share -$25.29K -$48.47K -$197.4K
COMMON SHARES
Basic Shares Outstanding 11.41M shares 5.573M shares 375.9M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $10.00K $30.00K
YoY Change -66.67%
Cash & Equivalents $11.15K $7.235K $25.42K
Short-Term Investments
Other Short-Term Assets $40.00K $110.0K
YoY Change
Inventory $4.527K
Prepaid Expenses $36.26K $107.6K
Receivables
Other Receivables
Total Short-Term Assets $51.94K $7.235K $133.0K
YoY Change 20593.23% -94.56%
LONG-TERM ASSETS
Property, Plant & Equipment $1.702K $2.006K $7.100K
YoY Change -64.01% -71.75% -64.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $30.00K
YoY Change -100.0% -100.0%
Total Long-Term Assets $1.702K $2.006K $38.51K
YoY Change -95.29% -94.79% 92.54%
TOTAL ASSETS
Total Short-Term Assets $51.94K $7.235K $133.0K
Total Long-Term Assets $1.702K $2.006K $38.51K
Total Assets $53.64K $9.241K $171.5K
YoY Change 47.42% -94.61% 757.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $235.3K $225.5K $179.7K
YoY Change 7.23% 25.48% 199.52%
Accrued Expenses $494.1K $862.4K $303.8K
YoY Change 48.12% 183.91% 78.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $200.0K $1.010M $310.0K
YoY Change -58.33% 225.81%
Total Short-Term Liabilities $942.3K $2.102M $794.2K
YoY Change -8.93% 164.66% 93.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $942.3K $2.102M $794.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $940.0K $2.100M $790.0K
YoY Change -8.74% 165.82% 92.68%
SHAREHOLDERS EQUITY
Retained Earnings -$7.093M -$6.830M -$4.990M
YoY Change 27.69% 36.88%
Common Stock $12.44K $5.573K $5.573K
YoY Change 123.15% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$888.6K -$2.093M -$622.7K
YoY Change
Total Liabilities & Shareholders Equity $53.64K $9.241K $171.5K
YoY Change 47.42% -94.61% 757.67%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$263.1K -$273.9K -$1.083M
YoY Change -53.46% -74.7% 111.81%
Depreciation, Depletion And Amortization $304.00 $305.00 $2.338K
YoY Change -87.18% -86.95% -1.23%
Cash From Operating Activities -$70.00K -$70.00K -$220.0K
YoY Change -53.33% -68.18% 214.29%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$70.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$70.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K 70.00K 270.0K
YoY Change -38.46% -74.07% 575.0%
NET CHANGE
Cash From Operating Activities -70.00K -70.00K -220.0K
Cash From Investing Activities 0.000 0.000 -70.00K
Cash From Financing Activities 80.00K 70.00K 270.0K
Net Change In Cash 10.00K 0.000 -20.00K
YoY Change -150.0% -100.0% -33.33%
FREE CASH FLOW
Cash From Operating Activities -$70.00K -$70.00K -$220.0K
Capital Expenditures $0.00 $0.00 -$70.00K
Free Cash Flow -$70.00K -$70.00K -$150.0K
YoY Change -53.33% -53.33% 114.29%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001448705
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
381717 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10840 USD
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
11408105 shares
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
PayMeOn, Inc.
CY2014Q2 paym Additional Amount Payable After Due Date For Default On Lease Contract
AdditionalAmountPayableAfterDueDateForDefaultOnLeaseContract
304000 USD
CY2011Q1 paym Business Acquisition Percentage Of Voting Interests Issued And Outstanding
BusinessAcquisitionPercentageOfVotingInterestsIssuedAndOutstanding
0.501 pure
CY2014Q2 paym Default On Lease Contract Amount
DefaultOnLeaseContractAmount
41937 USD
paym Number Of Months Required For Timely Payments
NumberOfMonthsRequiredForTimelyPayments
P36Y
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4653851 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
248639 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
161889 USD
CY2014Q2 paym Working Capital
WorkingCapital
-2094671 USD
CY2014Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
225502 USD
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
188021 USD
CY2014Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
862436 USD
CY2013Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
422891 USD
CY2014Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28858 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28248 USD
CY2014Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
4731685 USD
CY2013 us-gaap Asset Impairment Charges
AssetImpairmentCharges
66976 USD
CY2014Q2 us-gaap Assets
Assets
9241 USD
CY2013Q4 us-gaap Assets
Assets
37084 USD
CY2014Q2 us-gaap Assets Current
AssetsCurrent
7235 USD
CY2013Q4 us-gaap Assets Current
AssetsCurrent
3061 USD
CY2011Q1 us-gaap Business Acquisition Equity Interests Issued Or Issuable Number Of Shares Issued
BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued
301296 shares
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7235 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3061 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20711 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25417 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4174 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4706 USD
CY2014Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2013Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
195000000 shares
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5572688 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5572688 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5572688 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5572688 shares
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
5573 USD
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
5573 USD
CY2014Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1107862 USD
CY2013Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
960361 USD
us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
54222 USD
CY2014Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
95894 USD
CY2013Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
292243 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
610 USD
CY2014Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
305 USD
CY2013Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2338 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4737 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0px"><strong>NOTE 3 - RECENT ACCOUNTING PRONOUNCEMENTS</strong></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">In June 2014, FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers". The update gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers. The proposed ASU, which would apply to any entity that enters into contracts to provide goods or services, would supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the update would supersede some cost guidance included in Subtopic 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. The update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure requirements. In addition, the update improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</p> <p style="MARGIN: 0px; text-align: justify"><br /> </p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">In June 2014, FASB issued ASU No. 2014-12, "Compensation - Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period". The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The effective date is the same for both public business entities and all other entities. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition&nbsp;</p> <!--EndFragment--></div> </div>
CY2014Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
USD
CY2013Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
6100 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
38196 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
74035 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
USD
CY2014Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
USD
CY2013Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
521009 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
521009 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
521009 USD
CY2013 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
521009 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-920453 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-273868 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1082556 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1513329 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
477026 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
207479 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5080 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
31407 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-27117 USD
us-gaap Interest Expense
InterestExpense
285240 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
115922 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
122900 USD
us-gaap Interest Expense
InterestExpense
177647 USD
us-gaap Interest Paid
InterestPaid
USD
us-gaap Interest Paid
InterestPaid
USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
29891 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
9900 USD
us-gaap Lessee Leasing Arrangements Operating Leases Term Of Contract
LesseeLeasingArrangementsOperatingLeasesTermOfContract
P39M
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9241 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
37084 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
2101906 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1287130 USD
us-gaap Marketing Expense
MarketingExpense
13704 USD
CY2014Q2 us-gaap Marketing Expense
MarketingExpense
2457 USD
CY2013Q2 us-gaap Marketing Expense
MarketingExpense
72272 USD
us-gaap Marketing Expense
MarketingExpense
81274 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
141402 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
539700 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-66976 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-137228 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-468018 USD
us-gaap Net Income Loss
NetIncomeLoss
-920453 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-273868 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-1082556 USD
us-gaap Net Income Loss
NetIncomeLoss
-1513329 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-285240 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-115922 USD
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-122900 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-177647 USD
CY2014Q2 us-gaap Notes Payable Current
NotesPayableCurrent
2000 USD
CY2013Q4 us-gaap Notes Payable Current
NotesPayableCurrent
2000 USD
CY2014Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
1011968 USD
CY2013Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
668118 USD
us-gaap Operating Expenses
OperatingExpenses
638253 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
158538 USD
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
962382 USD
us-gaap Operating Expenses
OperatingExpenses
1344293 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-635213 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-157946 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-959656 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-1335682 USD
us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
160921 USD
CY2014Q2 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
81074 USD
CY2013Q2 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
184383 USD
us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
391077 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
681 USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
66295 USD
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
147502 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
544000 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
25543 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30864 USD
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
152503 USD
us-gaap Professional Fees
ProfessionalFees
52019 USD
CY2014Q2 us-gaap Professional Fees
ProfessionalFees
45668 USD
CY2013Q2 us-gaap Professional Fees
ProfessionalFees
28961 USD
us-gaap Professional Fees
ProfessionalFees
75901 USD
CY2014Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30864 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2006 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2616 USD
us-gaap Reclassifications
Reclassifications
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0px"><strong><em>(K) Reclassification</em></strong></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">Certain amounts from prior periods have been reclassified to conform to the current period presentation.</p> <!--EndFragment--></div> </div>
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
6100 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
4300 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6829923 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5909470 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4989613 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
3040 USD
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
592 USD
CY2013Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2726 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
8611 USD
CY2014Q2 us-gaap Security Deposit
SecurityDeposit
USD
CY2013Q4 us-gaap Security Deposit
SecurityDeposit
31407 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
-2092665 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
-1250046 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
4347826 shares
CY2013Q1 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
454033 USD
us-gaap Technology Services Costs
TechnologyServicesCosts
25543 USD
CY2014Q2 us-gaap Technology Services Costs
TechnologyServicesCosts
17455 USD
CY2013Q2 us-gaap Technology Services Costs
TechnologyServicesCosts
113143 USD
us-gaap Technology Services Costs
TechnologyServicesCosts
189394 USD
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
4349 USD
CY2014Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
1044 USD
CY2013Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
4418 USD
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
11603 USD
us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0px"><strong><em>(B) Use of Estimates in Financial Statements</em></strong></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates during the period covered by these financial statements include the valuation of website costs, valuation of deferred tax asset, stock based compensation and any beneficial conversion features on convertible debt.</p> <!--EndFragment--></div> </div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5572688 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5572688 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5472269 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3275463 shares

Files In Submission

Name View Source Status
0001553350-14-000975-index-headers.html Edgar Link pending
0001553350-14-000975-index.html Edgar Link pending
0001553350-14-000975.txt Edgar Link pending
0001553350-14-000975-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
paym-20140630.xml Edgar Link completed
paym-20140630.xsd Edgar Link pending
paym-20140630_cal.xml Edgar Link unprocessable
paym-20140630_def.xml Edgar Link unprocessable
paym-20140630_lab.xml Edgar Link unprocessable
paym-20140630_pre.xml Edgar Link unprocessable
paym_10q.htm Edgar Link pending
paym_ex31z1.htm Edgar Link pending
paym_ex31z2.htm Edgar Link pending
paym_ex32z1.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending