Hop-On Inc (HPNN)

[PRmaniac]

Investors should be aware that Peter previously was hyping deals and sending cash to companies he already controlled.

One was Binky-Roo, which got regulators concerned enough to raid his offices and cart away computers and other evidence. You can read more about this here: http://www.sfgate.com/business/article/Hop-On-CEO-indicted-2621739.php

The other was Green Frog Fund, which Hop-On funneled close to $1 million in cash, proceeds from Hop-On dumping billions of dilutive shares. There has never been any explanation, in financials, why Peter gave Green Frog (which Peter Michaels was president of) all that cash with no interest and no payback terms. This still has not been paid back to Hop-On shareholders. With Peter Michaels felony indictment and money laundering conviction, he might want to be careful with things like this, especially if any of that cash found its way into his pockets.

Here are just two of the tranches of cash that Hop-On funneled to Peter Michaels' Green Frog Fund...

STATEMENT OF CASH FLOW
For the twelve months ended December 31, 2009
Green Frog Fund -$200,000

STATEMENT OF CASH FLOW
For the three months ended March 31, 2010
Green Frog Fund -$400,000