Hop-on Announces LOI with Chinese Manufacturer
Investor Call with CEO at 9am Tomorrow Morning
TEMECULA, Calif., March 12, 2014 /PRNewswire/ -- Hop-on, Inc. (OTCMarkets/Pinksheets: HPNN) has today announced that its has a signed Letter of Intent with a Chinese Manufacturer anticipating $100,000,000 in revenue under the IPR enjoyed by the Company.
Additionally, the Company will be offering the public, an opportunity to speak directly with the Company's CEO, Mr. Peter Michaels, at 9am Pacific Standard Time, tomorrow, March 13, 2014. This opportunity is a follow-up to the successful shareholder conference call held last week. The call will include a short update and a significant period devoted to questions and answers.
Of major interest to all shareholders is the recently executed Letter of Intent with a Chinese ODM regarding licensing of intellectual property rights by the Company under recently announced agreements.
This Letter of Intent calls for an initial payment of $150,000; ongoing intellectual property royalties in accordance with the Company's IP agreements; and the distribution of this Chinese manufacturer's products, initially a smartphone, in the United States and Europe, under the Hop-on brand.
Hop-on is not at liberty to announce the identity of the manufacturer due to confidentiality provisions in the letter of intent that prevent identification of the Chinese manufacturer at this time. The Letter of Intent calls for a more formal agreement, which is currently being negotiated. Finally, the Letter of Intent requires the Company to close the transaction in China, which Mr. Michaels anticipates within the next two weeks.
This is the first of several potential intellectual property royalty deals that Hop-on has discussed in its previous releases.
There are additional specific items that the Company wishes to address with its shareholders and the public including: the recent announcement regarding acquisition of IPR, the Company's future plans, the Re-Medical and USAcig subsidiaries and their cannabis and electronic cigarette businesses.
US based callers wanting to participate in the call should dial: 877-407-8293.
International based callers wanting to participate in the call should dial: +1-201-689-8349.
Call starts at 9am Pacific Standard Time March 13, 2014
ABOUT HOP-ON, INC.
Hop-on, Inc. (HPNN.PK) is a global ODM and OEM manufacturer of electronics, based in the United States. Over the past 20 years, Hop-on has successfully secured essential patents for mobile communications and computing technologies, and is respected for developing the world's first disposable cell phone. Hop-on's focus on smartphones and innovative mobile device applications is bringing cost friendly solutions to today's demanding world market. Hop-on is also diversified in delivering cannabis remedies. For more information, please visit www.hop-on.com, www.re-medical.com and www.usacig.com
This press release contains forward looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the company's plans to change and are in no way intended to guarantee that the company will be successful in executing its plans. Hop-on, Inc. common stock currently trades on the over-the-counter "Pink Sheets" under the symbol HPNN. This press release in no way constitutes any recommendation regarding the securities of HPNN or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of HPNN, and no inference has been made that this release contains all such information.
For additional information, please contact Peter Michaels: 949-756-9008 or Email.
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