Hop-on Executes MOU With Voice Over IP Company
May 10 2010 - 11:23AM
Hop-on, Inc. (Pink Sheets:HPNN) (www.hop-on.com) announced today
that Hop-on subsidiary, Graffiti Partners, Inc. entered into an
Memorandum of Understanding to purchase a Voice Over Internet
Protocol company, that has approximately 10,000 paying customers
(over $22 a month per account), proprietary switch, billing
platform and fully functional profitable business.
Jay Pignatello, President of Hop-on, stated, "The Board recently
agreed with our plan to establish independent and distinct revenue
streams within Hop-on. Hop-on, through its wholly owned subsidiary
Graffiti Partners, Inc., now has the right to purchase this entity
and will immediately begin due diligence and will close the
transaction in the next 30 to 45 days. This will help increase
Hop-on shareholder value and will bring immediate revenues into the
Company. Hop-on is aggressively targeting other
telecommunications businesses for acquisition and joint venture
opportunities."
Voice over Internet Protocol
(VoIP) is a general term for a family of
transmission technologies for delivery of voice communications over
IP networks such as the Internet or other packet-switched networks.
Other terms frequently encountered and synonymous with VOIP are
IP telephony, Internet telephony, voice over
broadband (VoBB), broadband telephony, and
broadband phone.
About Hop-on, Inc.
Hop-on, Inc. (Pink Sheets:HPNN) offers multi-media services and
has secured licensing agreements from essential patent holders for
GSM, CDMA and WIFI technologies. Since its inception, known for
developing the world's first disposable cell phone, Hop-on
currently remains one of the few US-based manufacturers of cellular
technology. The Company also distributes The Electric Cigarette and
the Electric Cigar.
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933, and are subject to Rule 3B-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All Statements, other than statements of
fact, included in this release, including, without limitation,
statements regarding potential future plans and objectives of the
company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and other results and further events could
differ materially from those anticipated in such statements. Future
events and actual results could differ materially from those set
forth in, contemplated by, or underlying the forward-looking
statements.
CONTACT: Hop-on, Inc.
Jay Pignatello
949-756-9008
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