Replies to post #36987 on Yippy, Inc. (YIPI)

[236T568]

How bad are YIPI's prospects?

So bad that it has to go to Magna Group for its financing




YIPI's lender, Magna Group


http://www.bloomberg.com/news/articles/2015-03-12/josh-sason-made-millions-from-penny-stock-financing

YIPI - creditor sells YIPI assets used in collateral for loan in default:



https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=127652

ITEM XI: Defaults Upon Senior Securities.
The Magna Group (dba Hanover Holdings) (“Magna”) and the Company are in the early stages
of litigation regarding a dispute concerning the exact amount of debt outstanding which is owed
by the Company to Magna pursuant to multiple note transactions entered into by the parties in
2012. The litigation also relates to the application against the outstanding debt of collateral sold
in connection with such transactions. Requests by the Company and its counsel for audited
accounting of the transactions in question were repeatedly ignored and to date the Company still
has not received such records. The Company does not believe Magna’s claims have merit and is
prepared to defend itself rigorously. The Company does not believe this litigation will have a
materially adverse effect on its financial condition or results of operations.