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HAON - illegal use of the 3(a)(10) exemption

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nodummy   Monday, 11/06/17 12:58:06 PM
Re: nodummy post# 22494
Post # of 24744 
HAON - illegal use of the 3(a)(10) exemption

On August 18, 2017 HAON signed an agreement to buy The Hopp Companies Inc for $700,000

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12332791#EX10-1_HTM

Around the same time as HAON signed the Hopp Companies Inc acquisition agreement HAON made a deal with EROP Capital LLC (Vince Sbarra) for EROP Capital LLC to pay the $700,000 for HAON if HAON and EROP Capital LLC could get a Florida judge to sign off on a settlement agreement that would allow HAON to pay EROP Capital LLC in free trading 3(a)(10) stock for the $700,000 expense

13 days later on August 31, 2017 EROP Capital filed a Complaint against HAON in Polk County Florida designed to get a judge to approve the use of the 3(a)(10) exemption to allow HAON to pay EROP Capital LLC in free trading stock to cover EROP Capital LLC paying off $1,157,559.20 in expenses for HAON (which included the $700,000 payment for the Hopp Companies Inc acquisition)

https://promotionstocksecrets.com/wp-content/uploads/2017/11/HAONEROP.pdf

The attorneys in the case were both from the same Law Firm and share office space together - Mark Pena represented EROP Capital LLC and Alex Stavrou represented HAON

On September 29, 2017 the judge agreed to a Court Settlement between HAON and EROP Capital LLC that requires HAON to issue $1,929,265.30 worth of free trading stock to EROP Capital LLC plus give EROP Capital LLC 50,000,000 free trading shares to cover court expenses

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12316404#EX10-1_HTM

https://promotionstocksecrets.com/wp-content/uploads/2017/11/HAONEROPjudgeconsents.pdf



That very same day, on September 29, 2017, EROP Capital LLC paid the $700,000 to The Hopps Companies Inc and the acquisition agreement closed.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12332791


SEC regulations state that 3(a)(10) exemption is available when the securities are being issued in exchange for securities, claims, or property interests; they cannot be offered for cash

https://www.sec.gov/interps/legal/cfslb3a.htm


In this case HAON issued free trading 3(a)(10) exemption stock to EROP Capital LLC in exchange for EROP Capital LLC making a cash payment on HAON's behalf. The cash payment wasn't even made by EROP Capital LLC until after the court approved a settlement agreement allowing HAON to pay EROP Capital LLC with free trading 3(a)(10) exemption stock in exchange for the cash payment.


That $700,000 cash payment was included with $457,559.20 other legitimate expenses in the Complaint.

That $1,157,559.20 Claim by EROP Capital LLC is now being turned into $1,929,265.30 worth of free trading stock. Plus EROP Capital LLC is getting 50,000,000 free trading shares to cover their court expenses.

$1,929.265.30 worth of free trading stock will end up being between 6 billion - 10 billion shares of stock at the current HAON prices.







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