Hop-On Inc (HPNN)

[PRmaniac]

Currently in New York, met with our attorneys about taking Hop-on private.

1. I wonder how Hop-ON paid its lawyers? In shares?
Hop-On is flat broke, with tons of liabilities, court judgments with interest accruing, liens on the business, tax problems, no business license anywhere, and in default in Nevada.
And share structure is completely maxed-out, including all four classes of preferred shares. Plus, financials show that Hop-ON took debt off the books quite some time ago, and still has not created tons of new preferred shares.....gotta file an amendment with Nevada, first. Pretty hard to do while in default. He promises to create the shares each and every quarter "next quarter

2. Taking it private might expose just who are the preferred shareholders owning voting control and all that debt and previous his ce of stay-afloat cash. hmmmmm

3. Maybe the CEO should just resign? Let his former lawyer Richard Weed run the show. The Green Frog Fund repository for Hop-On convertible debt cash could then come full circle. Richard started the entity and Peter Michaels was president of that company while CEO here and obviously didn't disclose while making all those "loans" to the company he secretly (to hop-on investors) controlled.