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HPNN Petey's resignation - something to celebrate.
And his probation officer may be very concerned about him.
Just over $1600 traded all day. And almost all TINY trades, not even worth the commission.
If being wrong is a virtue......
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169994933
That was almost 1 year ago.
Can't get a "verified" transfer agent, either. Petey promised a long time ago he was getting a new TA so HPNN could be more transparent. Apparently real TA's want to get paid. His current unverified TA has HPNN as their only client......yep, fact....I checked.
ASSETS 2023
Current Assets
Checking/Saving $32
Accounts Receivable $0
Total Current Assets $32
HPNN has no money, no funding, and no real assets, plus HPNN admits it can't pay its obligations.
Well, insider info and lies to a select few is not working, so why not rely on his stock promotion page to generate volume to help all those investors dump their HPNN shares?
HPNN not current (just confirmed this)
Look on the Nevada Corporations website.
HPNN was supposed to do their annual report back in March. Now delinquent.
They were also placed on Administrative Hold by Nevada (their state of incorporation) prior to that.
HPNN lost in court - big loss $$$$
bogus admission of loss in disclosure:
In 2009, Hop-on lost a major sale of phones to a distributor in Mexico. Hop-on also dissolved the equity and joint venture with the OEM
manufacturer. Hop-on filed a lawsuit against a prior acquisition for Fraud and Breach of Contract. The opposition received a default
judgment against Hop-on. Hop-on will file to set the default aside and pursue litigation.
On August 26, 2009, a default judgment (the“Judgment”) was entered against the Company in the Superior Court of California, County of Orange in the amount of $3,500,000 on a counterclaim by Defendant, Dan Gannon, for an alleged business tort. The Company was recently advised that the Defendant obtained renewal of the Judgment on May 8, 2019, in the original amount plus accrued interest. The Company intends to seek to have the Judgment vacated. (Note, it was not vacated)
Note: HPNN cannot file to set aside the court judgments because it has been and is in "Forfeited" status in California. This means HPNN cannot win a court judgment in any case (would lose automatically again by default).
Peter also fails to disclose the newly-renewed lien against any HPNN assets has now risen to $9 million plus because of interest on the HPNN debt they owe.
HPNN market cap is 90% too high at these high prices. HPNN is financially insolvent and the CEO admits HPNN can no longer pay its obligation or taxes due.
HPNN no longer current - not good news
HPNN on administrative hold in their State of incorporation? Have been for many, many months. Next step is suspension. Hop-On Wireless is Permanently Revoked. And why did you report far less convertible preferred shares in your OTC disclosure vs. what is on record in Nevada (120 million preferred shares)? We know you love IHUB and read it all the time, so please answer or respond to the DM I sent you with the answers.
OTC Disclosure excerpts:
Exact title and class of the security: Preferred A Series Shares
Total shares authorized: 5,000,000
Total shares outstanding (if applicable): 5,000,000
Exact title and class of the security: Preferred B Series Shares
Total shares authorized: 4,000,000
Total shares outstanding (if applicable): 4,000,000
Exact title and class of the security: Preferred C Series Shares
Total shares authorized: 10,000,000
Total shares outstanding (if applicable): 10,000,000
Exact title and class of the security: Preferred D Series Shares
Total shares authorized: 10,000,000
Total shares outstanding (if applicable): 10,000,000
Total Preferred Shares Authorized submitted to OTC Markets = 29,000,000 Shares
Total Preferred shares authorized - latest per Nevada SOS website - 120,000,000 Shares
$0 revenue, $0 sales, almost no assets, and HPNN is financially insolvent.
Another flunkie Peter claims to have hired?
Will be interesting to ask that person why they are willing to work with a serial fraudster CEO that is best-known for beating women and felonies, with no success in business or in life.
No, that's after 1:2,000 Reverse split coming
There are close to 8 billion shares outstanding. There are plenty available. It is just that no one want to buy at these high prices, especially with HPNN is desperate financial condition with no way to pay taxes and other obligations.
Price target $0.001 - HPNN flat broke - insolvent, can't pay its obligations anymore.
Do a internet search for CEO Peter Michaels and fraud to learn about why he has a reputation for beating women and serial fraud.
GXXM is diluting. Toxic death spiral convertible financing. The lower the price drops, the more shares are needed to be converted at steep discounts to get the same $1 to those that hold the toxic notes.
and that relates to HPNN in what way harold?
Those regulators probably won't be the only federal officials Michaels will be in contact with. Last month, a federal judge in San Diego sentenced Michaels to three years probation in connection with a 2003 federal indictment. Prosecutors had accused him and others of bilking investors in raising millions of dollars on behalf of an online gambling company.
(remember that blast from the past?)
CEO of HPNN has felony convictions for money laundering and obtaining money by false pretense.
No, a provisional means nothing. It has no legal protection at all. Peter was touting provisional in 2021. Apparently he never actual filed anything and never applied for real patents, which cost money. He never got a penny for his previous patent claims.....nothing.
Peter Michaels, Hop-on's CEO who several years ago drew lots of media attention but few sales with his plans for a disposable mobile phone, is back with a new scheme. This one, however, won't need any factories or retail sales channels, only lawyers.
A month after receiving federal patents for a couple of mobile phone designs, Michaels is demanding royalties from major handset manufacturers, wireless carriers, and retailers that he claims are making money from his ideas.
“I do have lawyers,” he told InformationWeek. “And we have resources to lock asses with these guys. We have the resources to defend our rights.”
While some CEOs would try to work out this dispute privately, Michaels issued a press release last week warning the mobile phone industry that he wanted payment. Michaels' decision to go to the media is reminiscent of 2001 when he convinced Time Magazine that his $30 disposable phone was worthy of being named one of the year's best inventions, even though Hop-on, the company he founded in 1998, hadn't sold a single phone. Indeed, three months later in March 2002, the San Francisco Chronicle reported that a prototype of the phone was a jury-rigged Nokia phone with a plastic facade.
a provisional is not a patent. It just allows a place in line in case there ever is a patent application filed. Peter has tried this BS stock promotion before.
Price target was $0.0001
Wasn't expecting it to stick on no bid (0.000001) like it is now.
Just a simple squarespace page and two shared nameservers.
The servers he said in 2021 he was turning on in many countries never existed.
No apps submitted to apple and google play, as was promised in early 2021.
There is no platform and Petey only got a little cash he refuses to pay back to line his pockets and supposedly just for a pitch deck to lure ore gullible HPNN investors to but shares being dumped.
Because no one wants to buy HPNN shares at these high prices.
Also, many are concerned that HPNN will be suspended or forced into bankruptcy.
HPNN market cap is 90% too high at these high prices. HPNN is financially insolvent and the CEO admits HPNN can no longer pay its obligation or taxes due.
Nobody? Well, there were only 7 trades all day.
Investors mostly just want to get out before the reverse split.
Short interest can be found on the OTC website under HPNN Security Details
Just over 1 cent's-worth of HPNN shares short (20 shares)
Thus, no need to cover. Glad I could 'splain it.
and a whopping 7 trades in HPNN all day.
Shorts - no need to cover.
But the CEO, with no known real source of income, needs to keep paying the $6K/month child/spousal support.
Maybe he is secretly shorting, too.
Very thoughtful post. You should be proud.
Truth hurts?
Like I've said before, I welcome anyone with opinions.
Unfortunately, there are not many that appear bullish that have been able contradict the general consensus that this is a POS stock with a CEO that would have been fired by a company with a real board of directors.
So you admit - public needs protection from serial fraudster Peter Daniel Michaels?
I tend to agree.
Prove me wrong.
No one is paid to post here. Most that are bullish are just hoping they can dump their almost-worthless shares for less loss.
Reverse split in the works. 1:2,000 R/S is my guess.
Nevada's new law requiring companies to have business licenses in their headquarters state and not be suspended or forfeited in that state is causing problems - Nevada has put HPNN on administrative hold and California won't take HPNN off forfeited status until they pay all the back taxes, plus interest, as well as go through the long process to get reinstated.
This includes paying all their $10 million + in UCC and other liens, including all the tax issues.
But with $0.0002 price target, selling may not be a bad idea.
HPNN flat broke, per financial latest disclosure.....and going much deeper in debt, with no revenue or sales.
More dilution again today?
The CEO is panic-tweeting again after being called-out for having 3 felony convictions (including money laundering) and for beating women.
No launch until mid-2024 - where have I heard delays like that before. Petey likely putting out fluff to help more dilutive shares get dumped.
HPNN has not updated OTC markets with transfer-agent share structure since February.
HPNN still can't get "Transfer Agent Verified", like real companies get to help with transparency, despite promising a new transfer agent 2 years ago. HPNN CAN'T EVEN KEEP TRACK OF THEIR LIES ANYMORE.
New price target $0.0002. Could go lower, but probably initiating the reverse split before that.
From a HPNN shareholder -
HPNN CEO not paying debts, court judgments, or liens and also not paying the California tax authority.
Still not paying employees, too?
Peter Michaels is the deadbeat dad and CEO of HPNN. A real company with a real BOD would have fired Petey long ago.
CEO said there is no funding.
No platform to launch. No apps at the apps store or google play, which was promised over 2 years ago.
Just a squarespace webpage on a shared nameserver site.