Michaels didn't reveal these transactions to any shareholders. He was calling around looking for $50K though, claiming it was for a "reverse split, transfer agent bills, etc". It was all BS. He used the funds to purchase this patent (judgement) and scam for himself. There is a lot more to this story!
Michaels has a noose around his neck right now. I think he owes Hop-on Inc shareholders an explanation. Nothing is adding up.