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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.
Hop-On Wireless - PERMANENTLY REVOKED by Nevada.
It would be unfortunate for investors if the SEC/FINRA suspend or revokes HPNN or the CEO is forced to file bankruptcy, or if Nevada suspended or permanently revokes Hop-On (on Administrative Hold right now).
Mostly dilutive shares being dumped again today.
Well, you did lose your entire Sector 5 investment due to HPNN's Peter Michaels and the SEC revoking it.
How much investor and customer money did he pocket with that debacle, and did he report all that cash to the IRS?
Now a court has found Peter liable for damages in that case. There is a lien against Peter and HPNN for what he now owes (and it is a massive amount).
Nope - you have not been buying, unless it was those few 10K share little transactions.
So unfortunate you also lost your entire investment in HPNN CEO's Sector 5 debacle, which the SEC REVOKED and the HPNN CEO lost in court with massive damages assessed to the HPNN CEO.
Reverse split in the works - Oh nooooo?
Mostly dilutive shares being dumped again today. Not even one trade in the buy column.
Hop-On Wireless - PERMANENTLY REVOKED by Nevada.
It would be unfortunate for investors if the SEC/FINRA suspend or revokes HPNN or the CEO is forced to file bankruptcy, or if Nevada suspended or permanently revokes Hop-On (on Administrative Hold right now).
Sounds like you still can't sell your shares. I saw that twit that mentioned that there is no one willing to buy more than a tiny amount of shares, due to the 3-time felon CEO being in dire financial condition and HPNN being insolvent.
Really. Dogooders?
Seems like people posting opinions and useful DD should be welcome, unless an investor would prefer to keep their head in the sand.
There is ample evidence of the CEO not paying loans, employees, and court judgments as well as posting false financial disclosures.
Prove me wrong.
Not the conclusion most investors that are aware of the bungling CEO's financial and legal woes would come to.
But I guess when investors are so underwater and HPNN is flat broke and on Administrative Hold in their state of incorporation, then investors get the ostrich head-in-hole syndrome.
Mostly dumping and dilution. Great chance to exit.
Curt Doty dumped digitalage and CEO Peter the fraud
Also, HPNN's acquisition of Vertuoso did not ever get completed, despite the lies claiming it did in HPNN's financial disclosure.
His company, Vertuoso, apparently is "winding down" operations.
Vertuoso is sunsetting as our recent acquisition fell through. After 6 years, Vertuoso is winding down operations.
ooops....so yet another "acquisition" that didn't happen?
The recent news of Hop-on’s intention to acquire Doty’s company Vertuoso, specializing in vertical story-telling, ad-tech and content development will integrate Vertuoso’s expertise....
From 4th Quarter of 2021
The Company acquired
Vertuoso, LLC.
Shouldn't all revenue from Vertuoso be required to be reported on HPNN's books? Oh my!
HPNN lied in financials about $9 million owed - purposely omitted this liability from its financial disclosure - would that be stock fraud by the CEO?
Another massive lien $9 million $HPNN
This one lien is much more than the entire HPNN market cap, all while HPNN is broke and can't pay ANY of its obligations.
Judgment Debtor Information:
Judgment Debtor Name Mailing Address
HOP-ON, INC., A NEVADA CORPORATION 31938 TEMECULA PKWY
A323
TEMECULA, CA 92592
Judgment Creditor Information:
Judgment Creditor Name Mailing Address
DAN GANNON 3150 PARADISE ROAD
LAS VEGAS, NV 89109
Judgment Information:
A. Name of Court Where Judgment Was Entered COUNTY OF ORANGE - CENTRAL
B. Title of the Action HOP-ON, INC. a corporation v. DAN GANNON, et al.
C. Case Number 30-2008-00104779
D. Date Judgment Was Entered 08/26/2009
F. Date of This Notice 05/04/2022
G. Amount Required to Satisfy Judgment at This Date of
Notice
$8,737,352.03
E. Date(s) of Subsequent Renewal of Judgment (if any)
05/01/2019
All property subject to enforcement of a Money Judgment against the Judgment Debtor to which a Judgment Lien
on personal property may attach under Section 697.530 of the Code of Civil Procedure is subject to this Judgment
Lien.
Notice of State Tax Lien - renewed until 2027. Just one of many liens totaling much more than the entire HPNN market cap.
UCC Type
Debtor Information
File Number
Secured Party Info
Status
Filing Date
Lapse Date
Notice of State Tax Lien
PETER D. MICHAELS, INDIVIDUALLY AND AS RESPONSIBLE PERSON OF, HOP-ON-.COM, INC - TEMECULA, CA 177597865126 EMPLOYMENT DEVELOPMENT DEPARTMENT - SACRAMENTO, CA Active 07/25/2017 07/25/2027
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 HPNN report far less convertible preferred shares in your OTC disclosure (29 million shares) 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.
CEO JUST KEEPS LYING TO LENDERS
Unfortunately, he is not paying many others he owes, including other he borrowed money from. Most have turned to liens against any assets, including the California Tax man. Liens total much more than the current HPNN market cap. HPNN is insolvent.