Replies to post #71202 on Hop-On Inc (HPNN)

[clarx360]

Really? I thought he just closed with telepoop

[PRmaniac]

The cash is gone - the CEO indeed funneled over $1 million to another company he secretly controlled (Green Frog Fund).

What makes it suspicious is that the Hop-ON CEO was indicted and sentenced to prison for money laundering. His company offices also were raided by agents in another matter where he was in charge of a boiler room operation that took investors' money that Peter Michaels spent on lavish cars and a yacht, wiping out some innocent investors' entire life savings.

I sure hope Green Frog and Hop-on are filing tax returns and I hope Peter Michaels reported any income he derived from the cash funneled to Green Frog Fund (whether it be salary, bonuses, etc.).

[Arthur]

Apparent, mean it's in the financials under the CEO signature, for which the CEO is liable.
It's that apparent.

HPNN investors are under the impression that, if they are buying newly issued shares , the proceeds will be plowed back into the company, to turn it into a viable, profitable business, thus icvreasing the value of the company, and making the shares more valuable on the market.

That's not the pattern we are seeing with Hop-On.

The company announces grandiose projects, like new cheapo phones, or shipping e-cigs to ... China, gambling phone apps, etc...
and, without teklling its shareholders, issues billions of new shares, which "sell" well.
Then, no phones are launched, very few ecigs are sold, but all the money from the billions of shares issued is used to pay "debt". But not any debt: HPNN owes money to many, many people. The money is used to repay loans from cronies and associates of the CEO, or "debt" owed to the CEO himself, on top of his lavish salary (and sundry of expenses), that consume more than 50% of the company's annual expenses (and 100% of the annual loss).
So the company is back to dead flat broke, with no business, or just a make-believe business that's losing $1 for every $1 of sales. The money from the shareholders always end up out of the company.
Which is the actual purpose of the company: to enrich its CEO without having to make any profit.

Here are the 2010 financials for Hop-On: http://www.otcmarkets.com/financialReportViewer?symbol=HPNN&id=54179

2010 was a big year for Hop-On, with 50+ press releases, talk about "multiple revenue streams" and "acquisitions" (sounds familiar?)
Revenues were ... $47K
The operating loss was ($197K)
But the company issued 4 billion shares that year, which generated $3.43 million dollars of proceeds, which were used for "Long-term loan" ($900K), and "Paid-In Capital" ($2.9M).

So, the company started the year with $213 in the bank, lost ($197K) in operations, mostly e-cigs, and tapped its shareholders for $3.5M. And ended the year with $306.
WHERE DID THE MONEY GO ?

2010 was a typical year for Hop-On. Well, less typical than 2007, 2008 and 2009, where it claims to have made $0 of revenues, despite many many PRs claiming that business was booming.

No, yes, money gets funnelled out of the company, and new shares have always been issued in synch with PRs.

It's a puzzle how the CEO will manage to betray its shareholders this time, with the A/S maxed out, and the attempted R/S a bust, but we naysayers are dead certain he has found a way, probably thru preferred shares.

Remember to act surprised when it is finally revealed.
That no HPNN phones or Re-Medical hash pipes will ever be maketed is a given.