Hop-On Inc (HPNN)

[sidehill lie]

Michaels is doing what many owners of non-reporting companies on the market fringe do. Sell billions of shares to raise money for his salary and expenses, and when the price is driven down to .0001, R/S back up to .1, then sell billions more.

Don't kid yourself into thinking he cares a whit about the share price. The stock is merely a commodity he can sell to keep himself employed and living well. As long as there are gamblers hoping for a quick score, he can keep selling shares. When the last sucker is milked dry, HPON will disappear, and Michaels will be on to his next "venture".

What these guys do may be unethical, but it's not illegal unless somebody can prove that they've been misappropriating corporate funds. But paying a high salary, traveling around the world to shows, and getting perks is all part of the game. Oh, and don't worry about him selling so much stock that he loses majority control. He's probably granting himself tons of no-cost options.

Since there are no reporting requirements, he could be paying himself a salary of $1,000,000/yr, and nobody outside of his office (and the IRS) would know. That's how these fringe companies work. They only have to "look" like they have a real business.

You won't see me averaging down on this t*rd. I may have been stupid to get into this, but I'm not a complete idiot.