Hop-On Inc (HPNN)

[PRmaniac]

HPNN OTC Current (for now) -Reverse split coming?

HPNN's share structure is basically maxed-out and they seem to be having trouble getting Nevada to approve the share structure change the CEO says they need to issue all those new special preferred shares. I wonder if their financiers will notify HPNN about them being in default on adjusting their share structure to create those special shares.

It is also possible that Hop-On was lying about creating the shares, since I do not see any amendment filed to do this.
The problem with this is that Hop-On has already falsely taken the debt off their books, but have not actually compensated the note-holder(s) with the preferred shares for more than 2 1/2 years?.......but they keep saying "next quarter", which by now appears to be false and misleading, at best.
from 2014 finacials....
The Company has agreed with certain debt holders of the Company to convert their debt to preferred equity of the Company. This was announced in a press release on April 30, 2014. The Company has not physically issued the preferred stock certificates as of the date of this filing – the Company intends to do so in the next quarter, after it makes the requisite filing with the State of Nevada to increase its preferred share allotments to accommodate the conversion of the debt.