Business
Hop-on Secures Unsecured Adjustable Line of Credit of One Million Dollars
Hop-on Secures Unsecured Adjustable Line of Credit of One Million Dollars.
About this update from Hop-on, Inc.
[{"type":"text","content":"\n\n TEMECULA, CA, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Hop-on, Inc. (OTC Pink: HPNN) announced today it’s finalized the Unsecured Adjustable Line of Credit up to $1 Million.\n Hop-on, Inc. has completed the Unsecured Financing with its Private Equity Fund (PEF) to be used in corporate activities; such as, Marketing, Packaging, Inventory and Logistics, Etc.  No Shares or Convertible Debt were created to secure this Financing.   “This is a very important milestone for Hop-on,” stated CEO Peter Michaels.  “It was a necessary step in pushing the company to the next level to achieve the growth and success that we believe is deserving of the Hop-on Brand. Use of proceeds, possible share buy back and No reverse split on my radar. With the unsecured line of credit, there will be no stock or notes given for this transaction!” Hop-on, Inc. (HPNN.PK): Since 2003, the Company has continually obtained essential patent portfolio license agreements for mobile communications, computing and home entertainment devices. Hop-on, Inc. is an international leader in the development and manufacture of electronics, distributed software and telecommunications hardware and services. Since inception in 1993, the company has a long-standing history of innovation and progressive market development, and has maintained a position as one of the few remaining US-based manufacturers of wireless technology. Hop-on is known for developing the world's first disposable cell phone.  Hop-on has numerous licensing agreements for GSM, CDMA, and 4G LTE, WIFI, infrastructure equipment, base stations and base station controllers; circuit switched and packet switched core network elements such as mobile switching, gateway servers and support nodes; transmission equipment; home, visitor and equipment identity registers, network management and operation and maintenance equipment; devices and appliances providing interfaces and subscriber terminals and/or fixed telephone networks, multimedia services or the Internet and test equipment for different technologies.  Hop-on is one of a few ODMs with a license with Nokia and Microsoft for their patent portfolio related to Android Operating Systems (link: http://news.microsoft.com/2014/02/20/hoponpr/) Hop-on’s license agreements are poised to add 5G & ...