FORT LAUDERDALE, Fla., Feb. 28, 2017 (GLOBE NEWSWIRE) -- Paymeon, Inc. (OTC MARKETS:PAYM) today announced that its wholly-owned subsidiary, Basalt America, has outlined its goal to save American taxpayers from the enormous costs of this country's ongoing and future skyrocketing maintenance and repairs of our roads, bridges and tunnels. Basalt America is asking regulators simply to mandate that the newest building codes be enforced. AC 454, passed in June of 2016, allows for basalt fiber reinforced polymers (BFRP) to be used in the reinforcement of concrete. States are also mandated to consider "life cycle" costs of all future road and bridge projects as written in the Moving ahead for Progress in the 21st century Act (“MAP 21”), passed on July 6, 2012. What does this all mean? Because our Basalt reinforcement products never rust, we believe that they meet mandated requirements, implementation of which can mean vastly reduced need to redo infrastructure and zero, or close to zero, maintenance costs over time. Use of some of Basalt America’s products can be seen here: https://www.youtube.com/watch?v=xy3ISYNJfOI.
Aside from the long term cost savings, Basalt is 2 1/2 times stronger than steel, similar in price as coated steel, one-quarter the weight, environmentally sustainable, and made here in America!
According to roadsbridges.com, the U.S. is budgeting $179.5 Billion in Highway and bridge repair in just 2017. Basalt America's vision is to substantially reduce this budget item from the federal budget. Basalt America's largest shareholder, Vincent L. Celentano, commented "do it once, do it right."
Learn more about Basalt America at: www.basaltamerica.com.
Disclaimers
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products and partnerships, as well as potential transactions the Company may be considering or may have closed. Such forward-looking statements are based on present circumstances and on PAYM's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations, reliance on representations from third parties that may not execute as planned, development of new markets, and other factors over which PAYM has little or no control. Such forward-looking statements are made only as of the date of this release, and PAYM assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. In addition, this release makes reference to information contained in third party sources that have not been verified. Paymeon makes no representation as to the accuracy of such information. Risks, uncertainties and other factors are discussed in documents filed from time to time by PAYM with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any securities. For additional information and potential risk factors, readers should review PAYM’s filings with the Securities and Exchange Commission, which can be found at www.sec.gov.
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