Hop-On Inc (HPNN)

[tekheavy]

NEWS OUT!!

Hop-on Executes MOU With Voice Over IP Company
12:23p ET May 10, 2010 (GlobeNewswire)
Hop-on, Inc. (Pink Sheets:HPNN) (www.hop-on.com) announced today that Hop-on subsidiary, Graffiti Partners, Inc. entered into an Memorandum of Understanding to purchase a Voice Over Internet Protocol company, that has approximately 10,000 paying customers (over $22 a month per account), proprietary switch, billing platform and fully functional profitable business.

Jay Pignatello, President of Hop-on, stated, "The Board recently agreed with our plan to establish independent and distinct revenue streams within Hop-on. Hop-on, through its wholly owned subsidiary Graffiti Partners, Inc., now has the right to purchase this entity and will immediately begin due diligence and will close the transaction in the next 30 to 45 days. This will help increase Hop-on shareholder value and will bring immediate revenues into the Company. Hop-on is aggressively targeting other telecommunications businesses for acquisition and joint venture opportunities."

Voice over Internet Protocol (VoIP) is a general term for a family of transmission technologies for delivery of voice communications over IP networks such as the Internet or other packet-switched networks. Other terms frequently encountered and synonymous with VOIP are IP telephony, Internet telephony, voice over broadband (VoBB), broadband telephony, and broadband phone.