Hop-On Inc (HPNN)

[PRmaniac]

HPNN lost in court - big loss $$$$
bogus admission of loss in disclosure:
In 2009, Hop-on lost a major sale of phones to a distributor in Mexico. Hop-on also dissolved the equity and joint venture with the OEM
manufacturer. Hop-on filed a lawsuit against a prior acquisition for Fraud and Breach of Contract. The opposition received a default
judgment against Hop-on. Hop-on will file to set the default aside and pursue litigation.
On August 26, 2009, a default judgment (the“Judgment”) was entered against the Company in the Superior Court of California, County of Orange in the amount of $3,500,000 on a counterclaim by Defendant, Dan Gannon, for an alleged business tort. The Company was recently advised that the Defendant obtained renewal of the Judgment on May 8, 2019, in the original amount plus accrued interest. The Company intends to seek to have the Judgment vacated. (Note, it was not vacated)

Note: HPNN cannot file to set aside the court judgments because it has been and is in "Forfeited" status in California. This means HPNN cannot win a court judgment in any case (would lose automatically again by default).
Peter also fails to disclose the newly-renewed lien against any HPNN assets has now risen to $9 million plus because of interest on the HPNN debt they owe.