Hop-on Executes MOU With Voice Over IP Company
IRVINE, Calif., May 10, 2010 (GLOBE NEWSWIRE)
-- 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.
SOURCE: Hop-on
http://www.globenewswire.com/newsroom/news.html?d=191440
Copyright 2010 GlobeNewswire, Inc., All rights reserved.
|