Hop-On Inc (HPNN)

[billytbone]

I have owned HPON over 2 years.I know some people like who were mentioned in a previous post that have been with this company for actually longer than 7 years.Back to the New World Publishing days.I know people who worked for Michaels.We are all of the opinion that despite rosy sounding predictions at the shareholders meeting,HPON must prove itself with something that can be substantiated.They said 2 years ago they wanted to become "a fully reporting" company and still have not accomplished it.Financials through 2003 were promised at the meeting and of course HPON couldn`t pull it off on time.More questions.
Michaels is currently under Federal indictment for 2 counts of stock fraud,and a "little birdie" told me this week that there is also a money laundering charge still pending.
Link to original charges
http://www.corp.ca.gov/pressrel/03/itncorp/itn041803sf.htm

The last un-signed off on financials released by hPON in 2002 stated 170 million shares outstading.
At the meeting the number given was 531 million so there has been large dilution.
And the transfer agent actually told me the real # is much higher due to shares placed privately by Michaels/HPON.
The new products did look great but quantities and availability weren`t really discussed.
Sales to places like Pakistan that HPON has announced are very hard to verify.
They must live up to their pledge to get off the pinks within 90 days.
Also was told by CEO Gannon in a private conversation that HPON has identified 3 MMs in Florida who have been shorting the crap out of this as to hold share price down.
This has the potential to really become a monsta if they follow through for once on some of their recent promises,for now I say wait and see. JMHO