TEMECULA, Calif., March 14, 2014 /PRNewswire/ -- Hop-on, Inc.
(OTCMarkets/Pinksheets: HPNN) today is announcing its market
roundup. Market makers are short over 2.5 billion shares in Hop-on
common stock. Our stock price has risen over 500% within the last
30 days. The Company announced no reverse split of its stock.
Hop-on reduced its debt load by USD $1,000,000 without any dilution to its
shareholders. The Company has compressed the common shares by
eliminating the reserve shares due to preferred shareholders and
will be returning hundreds of millions of shares to treasury, as
the preferred shareholders have elected to hold their shares for
one year without any conversion.
This week the Company announced that a Letter of Intent with a
Chinese Manufacturer has been signed for over USD $100,000,000 in revenue. Under that LOI, Hop-on
will be receiving an initial payment of USD $150,000 from the Chinese Manufacturer, and is
not required to finance any aspect of the deal. This alleviates
Hop-on from the costly needs of prototyping, tooling, testing,
software integration, manufacturing, facilities, personnel,
packaging, distribution, marketing, warranty repair, etc. for the
smart phones, tablets and eReaders that will be produced for Hop-on
utilizing its IPR licenses. This is the first of several
potential intellectual property rights royalty contracts that
Hop-on is working on.
Also discussed on the conference call that took place yesterday
were the developments in Colorado.
Re-Medical, Inc formed a new corporation, Re-Medical of
Colorado. This new entity will be
filing the requisite paperwork to be in compliance with
Colorado laws and regulations
regarding cannabis products, with the intent to manufacture and
distribute its cannabis transdermal patches to all dispensaries in
Colorado. The Company has
identified another twenty states in which it can mirror this highly
profitable patent pending business model.
Peter Michaels, President of
Hop-on and its subsidiaries, stated "With the new regulatory
climate in various markets within the
United States, a clear demand from providers and their
consumers, and Hop-on's tradition of rapid innovation and meeting
market needs, we believe we are poised to provide great value to
the public and our shareholders. We are looking forward to the
continuing evolution of the regulatory environment and to
permission from state regulators on the licensing of our
products."
ABOUT HOP-ON, INC.
Hop-on, Inc. (HPNN.PK) is a global ODM and OEM manufacturer of
electronics, based in the United States. Over the past 20
years, Hop-on has successfully secured essential patents for mobile
communications and computing technologies, and is respected for
developing the world's first disposable cell phone. Hop-on's focus
on smartphones and innovative mobile device applications is
bringing cost friendly solutions to today's demanding world market.
Hop-on is also diversified in delivering cannabis remedies. For
more information, please visit www.hop-on.com,
www.re-medical.com and www.usacig.com
This press release contains forward looking statements
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements include risks and
uncertainties that may cause the company's plans to change and are
in no way intended to guarantee that the company will be successful
in executing its plans. Hop-on, Inc. common stock currently
trades on the over-the-counter "Pink Sheets" under the symbol HPNN.
This press release in no way constitutes any recommendation
regarding the securities of HPNN or its affiliates. Any person
reading this press release is advised that this release should be
considered in the light of all facts and circumstances regarding
the business and financial condition and prospects of HPNN, and no
inference has been made that this release contains all such
information.
Additional Information
For additional information, please contact Peter Michaels: (949) 756-9008
Email
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SOURCE Hop-on, Inc.