Hop-On Inc (HPNN)

[PRmaniac]

With all shares issued (7.5 billion shares) and each and every class of preferred shares (Class A, B, C, and D) maxed-out, too; it looks like Hop-On is in serious financial trouble.

Note that Hop-ON also needs to issue more preferred shares, but has not filed to do so with Nevada.

Not a good idea that Hop-On took that debt off the books a long time ago, but still has not delivered the shares owed.

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.[/i]

Note that Hop-On keeps saying "next quarter", but never does file for the share increase.