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Honest. Are you sure that is your opinion?
Investors should read all their past press releases (especially enjoy the spelling and grammar), then look at what HPNN actually did. If that doesn't make you think twice, the CEO's past behavior and felony conviction should, IMO.
Time & Sales
Price Size Exch Time
0.0029 5000 OTO 14:40:09
oops, last post did not list the tiny trade to try to make it look like it is trading higher than it really is.
Another tiny trade - manipulation?
Sure looks like it. A $14.50 trade to make it look like the stock is trading higher? This is the kind of thing the SEC warns investors about.
steal - the CEO of HOP-ON is a crook
He is one of the worst kind. A fraudster and money launderer.
Look at his felony conviction record.
steal - are you accusing me of trying to push the price down?
Aren't those conspiracy theories getting a bit old?
Maybe one should look to the relative non-performance of the company in all respects, the convicted felon CEO running HOP-ON's criminal record, the misleading press releases, the fact the company has never furnished audited financials, and the massive dilution the company is so well-known for.
Maybe investors just understand that the company is run terribly.
Maybe investors now see the tiny trades at high prices to prop-up the share price.
Do you think PM is honest?
I do not. He lied about the disguised Nokia phone he was trying to make people believe was a hop-on product.
He still has never filed audited financials, despite promising them numerous times.
He claimed he would be at CES in 2008 and 2009, but the trade show confirmed HOP-ON NEVER had a booth at the show under their name.
Their web site implies phones are "available", yet one can't buy their products in stores or online.
And pinksheets warns investors about hop-on and companies like them. They warn that companies that are unwilling to provide disclosure should be treated with suspicion.
HOP-ON CEO still on felony probation
apparently still has to get special permission to travel, too.
He was originally sentenced to a jail term, but his lawyer later negotiated a fine and 3 years probation to avoid spending the time in jail.
Looks like almost no buyers
and even a $1.50 trade a the ridiculously high price, apparently to make it look like the price is trading higher.
Time & Sales
Price Size Exch Time
0.002 95000 OTO 12:50:17
0.002 5000 OTO 12:50:05
0.003 500 OTO 12:24:02
0.002 51197 OTO 11:51:28
0.0023 30000 OTO 09:31:39
0.0023 5000 OTO 09:30:03
The $1.50 trade at 0.003 by the price manipulator group apparently caught the attention of those monitoring.
Beware of paint-the-tape trades to try to make it look like there is buying interest at these high prices.
HPNN needs to drop around 90% or more to get to more realistic share price value. Even that might be too high, based on HOP-ON's failure to provide disclosure and their inability to issue aufdited financials they promised numerous times.
spice - WEHI reverse split news coming next week?
Or will they just go belly-up because they are not getting a bid very often and can't generate cash through discounted dilutive shares anymore?
Hopefully the GC investigates Pagnano and WEHI
Since WEHI is in a little trouble with all the judgment liens against the company and they don't pay prize winners what they are owed, the GC would be wise to investigate WEHI before the 2005-filmed infomercial is allowed to be aired.
If they don't , the GC's reputation will be terrible to worse.
WEHI has alreadeyy owed tons of prixze money, plus the $1 million that was due 30 days after the final episode of the MDSO. This was aired years ago.
howard - there is no market maker, or MM, for penny stocks like this. WEHI is "unsolicited quotes only".
Mike, does the Golf Channel know that WEHI doesn't pay prize winners and has numerous judgment liens against the company?
Pretty hard to sieze assets, though, when the company is run out of a condo and has little or no assets. The lienholders may be able to sieze Heathrow enterprises, though, IMO.
Yes, a 1:1,000 reverse split
Then the share price can drop right back down to $0.0001, like it did soon after the 2008 reverse split and the 2007 reverse split.
A GSM-only phone has no trouble staying below the radiation SAR limit. The GPRS/Edge and 3G phones, of which HOP-ON doesn't have much, are the ones to worry about.
Apparently HOp-ON was giving away unapproved phones to people, according to HOP-ON's own admission. From July 15, 2008 HOP-On press release:
"The Hop-on executive team, including Peter Michaels, President, will be on hand today to personally demonstrate the HOP1800 phone. In addition, Hop-on will be providing 200 free phones to interested members of the media."
FCC doesn't like it
They are impartial and if someone files the proper paperwork, the device doesn't emit radiation above the limits, and pays the fees; they may approve it for sale.
Now who would ewant to have a GSM-only phone with no screen? Not many, IMO.
And just how negative of margins will HOP-ON face if they ever go into real production? If they lose $25-$50 on ever phone they sell (marketing, selling, administrative, regulatory, patent licensing fees, shipping, China gov't fees), will they try to make up for it in volume? LOL
The FDA sure won't sign-off on any claims by Ex-Fuze, IMO.
Gotta laugh at Pagnano's projections. Any CEO of a company that had his kind of performance and repeated failure to get even a small percentage of his revenue projections would have been fired long ago. Pretty hard to fire someone that runs the company out of his condo, huh?
Note: Exfuze distributor only costs $40 per year. LOL And the entity being a distributor must perform with the utmost integrity and honesty, and must comply with all laws.
Here is the link to the aggreement as of August 2008.
http://www.myexfuzeoffice.com/docs/eXfuze_EID_Agreement_253-08-7.pdf
There also is a $10.50 trade at the super-high price of $0.0021, too.
Other than that, almost no buying interest at these high prices.
Looks like they will have a hard time keeping the price above $0.001 because of the potetial dilution due to the restricted shares issued as part of that little communist equity investment in HPNN.
I wonder if the CEO gave them a 75% discount to the average trading price so the investor would have a better chance of breaking even when they may dump sharesafter the 6-month restriction period elapses.
What respected analyst would be dumb enough to issue a buy alert.
Or is this just one of the pump/dump often paid coverage sites that try to generate volume so investors can sell?
Post the link so we all can see the joke, too.
You are aware that technicals mean nothing for thinly-traded penny stocks with questionable disclosure practices and tiny trades amounting to just dollars each, in many instances.
here is the warning about HPNN, that can be found on pinksheets website. Just click on the big red STOP SIGN when viewing the quote page for HPNN.
..........
STOP
Pink Sheets
No information
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink OTC Markets, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies and/or companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
HOP-On website misleading HOP 1800?
HOP-ON's website claims the 1800 has GPRS
HOP1800
GSM Dual (900/1800/1900 MHz).
GPRS (General Packet Radio Service) Class 10.
Look at the picture of the phone and the claim that it has GPRS below the GSM info.
http://www.hop-on.com/cellphones_gsm.html
It does not have GPRS, based on the FCC test report I saw and the latest admission from HOP-ON itself.
HOP-ON gave away non-FCC-approved phones in the USA?
HOP-ON only recently received FCC grant on the 1800, which is needed before any distribution to any consumers in the USA.
One would also have to be very gullible to believe that phone, with no display and GSM only, is comparable with "mid-tier" phones, as HOP-ON claims.
From July 23, 2008 press release....
"We gave phones to New York’s finest, from Governor David Paterson to Security Guards at the game. Baseball’s greatest athletes and their families enjoyed our phone and what it actually offers."
"....and design comparable to any mid-tier cell phone on the market..."
Can you say FLUFF PRESS RELEASE?
Just one look at HOP-ON's Oct 23 2008 press release make me wonder if HOP-ON actually knows the ddifference between 3G and GSM/GPRS?
That PR touts a HOP-ON phone supposedly operating on AT&T's 3G network. Maybe HOP-ON isn't aware that GSM/GPRS is actually not 3G at all?
"Hop-on will offer consumers a nationwide GSM/GPRS footprint on the fastest 3G network available."
oh really?
"Using the speed and dependability of AT&T's 3G network, makes the ChitterChatter phone all the more valuable....."
are you sure about that, Peter of HOP-ON?
The phones are a joke, IMO. The one they got approved is GSM only and doesn't even have a screen. I doubt the company even can support a meaningful warranty program for any of their products, and I'm not convinced they have any sales of anything to speak of.
Since they claim to have gotten an "equity" investment from a Chinese OEM company, I'm wondering just how bad the dilution is going to be due to this? Did they register shares for this "equity" investor, or did they simply give them a ton of shares and hope for and exemption? I see that HOP-ON, even after claiming the details would be coming, still is not disclosing just how bad the dilution due to the "equity" investment will be.
How? It affects all shareholders. The preferred are the ones that can't sell for at least 6 months after conversion......if WEHI actually ever formally registers shares for the conversion back to common at a 20% discount. Be careful.
It affects all shareholders because if conversion lowers the common share count to 5 billion, but Pagnano is paying for his own company (Heathrow) with 5 billion shares, then you are diluted right back to where you were.
If Pagnano needs more cash, he could do yet another private placement at huge discounts like he did before (see SEC filing). This also would mean massive dilution.
He will also need a reverse split because there are almost no bids for WEHI stock at the current super-high price of $0.0001. Once he reverse splits, the stock price will tank right back down FAST FAST, just like after the RS last year and the one in 2007.
Maybe he will also try to spinoff Heathrow as a divie to try to be able to dump dilutive shares eventually into that entity, too. LOL
seanman - I think that kid's post was actually more believable than much of what the CEO of WEHI has been putting out on the the street, IMO.
If one looks at what Pagnano has put out over the years, then compared it with what really resulted, one would actually think WEHI is the one putting out a lot of unverifiable stuff. How can anyone believe the company when they didn't even disclose the tiny distributor they merged with was Pagnano's own company? Isn't that a bit misleading, at best?
The fact that WEHI refuses to explain why they can't pay their obligations or prize money owed, are in default, and have numerous judgment liens against them also is VERY suspicious.
Howard - getting some of the shareholders to convert to prefeered leaves even more room to dilute the common into the ground. The preferred share conversion ration may hint that the next reverse split will be 1:1,000.
Very suspicious that Pagnano didn't disclose how many shares were give when he recently "merged" or bought his own company (Heathrow).
WEHI needed cash, thus more massive dilution. Those placements usually involve WEHI giving out tons of shares at huge discounts that can be immediately dumped back into the share pool to allow the funder to make their money back immediately.
It is almost like paying 30% to 50% for a loan to stay afloat.
Still less than $800 in HPNN shares traded so far today
I'm expecting more fluff PR's to try to get someone (anyone) to buy shares at these high prices. I wonder if a bunch of those older preferred shares being given for services, etc. are being converted to common and put up for sale....thus the need for hype to help absorb share sales.
So far not many buyers again today!
Schwabby - that is less than $700 traded?
Did you see the tiny $15 trades going through to try to artificially inflate the share price? I see someone on Ragingbull message board is commenting that this apparent price manipulation is being watched closely.
steal - what is your definition of equity investment? If HOP-ON had an equity (shares) investment, then it can be considered dilutive.
HOP-ON is known for their massive dilution, then they do a reverse split and the stock price can drop all over again.
Restricted shares are now only restricted for 6 months. Then the shares can be sold at will.
Financials - are you kidding?
In May 2008, hop-on announced it was styling an SEC form to register and become a fully-reporting company. It also says it was in final stages of an audit that would let them do this. Neither has happened.
Still no audited financials, as HOP-ON has repeatedly promised, but failed to complete.
The last financials (unaudited) it posted to pink sheets was for the period ending June 29, 2007.
I see some other companies that are being suspended by the SEC for failing to provide timely finascials to investors. You ca nsee this by going to www.SEC.gov and looking at some of the companies under trading suspensions or revokation.
steal - I don't think so
Last I heard, the authorized shares were at 800 million. The issued and outstanding shares are just shy of 400 million shares.
If your contact with the transfer agent revealed that the issued shares are now at 800 million shares, then there has been recent MASSIVE DILUTION and we can expect HOP-ON to again raise the share authorization limit soon so they can dilute more. This will show up on the Nevada Secretary of State website, and found using a business entity search for HOP-ON (not the revoked hop-on wireless company).
As far as your comment on restricted shares goes.......
You may have noticed that the SEC has a new rule that restricted shares only have 6-month holding period restriction on selling now.
It seems, from evidence in your posts, that I have a lot more clue about HOP-ON than you do. I suggest you stop the personal attacks, please.
Stock price attempted manipulation again?
Who is doing the tiny trades, apparently to try to prop-up the share price. The cost of the trade barely covers many investors' commissions on a share purchase/sell that tiny.
Both pinksheets dot com and the SEC warn about possible price manipulation in thinly-traded penny stocks. Quite often one can see tiny trades of HPNN shares late in the day, in what appears to be a paint-the-tape attempt by trader(s). Wouldn't it be nice to know if the same person is doing all these apparent manipulative trades?
Time & Sales
Price Size Exch Time
0.0031 5000 OTO 10:08:37
0.003 5000 OTO 09:37:00
AJAB - the SEC should see that message. If true, this is almost Madoff-like and definately akin to a pump/dump scheme. More likely, it is just getting a gullible investor to buy shares before they lose all shareholder value again, like has happened to pretty much anyone that has trusted Mike Pagnano, IMO.
Before you know it, WEHI would probably reverse split 1:1000 and change its ticker symbol. The the stock price would quickly tank as fast or faster than it did after the 2008 and 2007 reverse splits.
So you agree there was increased dilution due to their communist so-called equity investment in hop-on, while HOP-ON still refuses to disclose the info they promised about this?
moto -the FCC approval was for a GSM-only phone with no display. This has nothing to do with data or the hype about their supposed gaming stuff that didn't even work with android op system, according to the HOP-ON CEO.
What cash flow? They aren't selling anything.
No wonder they refuse or are unable to provide audited financials.
Are those out-of-sequence sells the equity investor dumping discounted shares on the hype induced by the little PR?
Just how big of a discount did HPNN give the communist investor? 50%? 75%?
You mean someone smart is selling the shares to someone at the ask. Smart money knows this may be the last chance to sell their shares above $0.0015.
HPNN does have a history of massive dilution. They just recently announced an "equity" investment from the communists in China. Equity is shares, which means even more dilution.
I see HPNN still hasn't provided the disclosure about that one they promised.
Birdie - so we can now contact the Golf Channel to let them know about the fact that WEHI doesn't pay prize winners and has a lot of unpaid prize winners that have lien judgments against the company.
You know it will happen. Some people think the Federal Trade Commision should take action or the government oversight committee, or the Florida Attorney General's office.
WEHI was not supposed to advertise any event until prize money was in escrow. They still haven't paid past prize winners.