Dubious Electronics Company Decides Investors Must Be High, Prepares To Spin Off Cannabis Company

You probably have not heard of Hop-On(HPNN). After all, its share price is so small, it shows up as 0.00 on Yahoo Finance. Unlike many such companies it appears to actually have a little revenue(793K in 2013), though it is unclear exactly what it is from. Recently, the company took a break from its usual bizarre rants

Market makers are short over 2.5 billion shares in Hop-on common stock. Our stock price has risen over 500% within the last 30 days. The Company announced no reverse split of its stock.  Hop-on reduced its debt load by USD $1,000,000 without any dilution to its shareholders. The Company has compressed the common shares by eliminating the reserve shares due to preferred shareholders and will be returning hundreds of millions of shares to treasury, as the preferred shareholders have elected to hold their shares for one year without any conversion.

and elected to enter the cannabis business. Seems like it might be something they know a little bit about. Though the company has no actual business there, it has decided to spin it off as its own company.  And it trumpets the great progress it has made

Hop-on, Inc. (PINKSHEETS: HPNN), a global electronics OEM, announced today that its Re-Medical subsidiary has engaged De Joya Griffith, LLC, an SEC approved auditing firm out of Henderson, Nevada, to audit its books and records.

The audit is the first step in Re-Medical further developing its business plan. The company’s board of directors is poised to have the company file its own registration statement upon finalization of the audit.

Re-Medical has been negotiating and finalizing agreements with state licensing bodies and distributors for its transdermal patches. The audit will begin immediately so that any revenues from those distributors can be captured in the forthcoming period after the audit.

Peter Michaels, President of Hop-on, stated, “Re-Medical is poised to grow substantially in the coming months in the cannabis market. With Colorado and Washington having already legalized marijuana, policy makers and voters in many other states are rapidly progressing towards legalization, with Alaska, California, Massachusetts, Oregon and Washington, D.C. leading the way. Being an audited fully reporting company will give us much greater credibility with state licensing bodies.”

Wow! A no-name auditor out of Nevada to audit a non-existent business being spun out of a public company with an invisible market cap!  No wonder people are lining up to bid this stock up past the magical zero mark. Still undecided? Why not attend the company’s just-scheduled special shareholders meeting with “solid agenda”? We prefer meetings with liquid agendas, ourselves. Once again, an enterprising CEO focused on stock machinations attempts to prove P.T. Barnum’s maxim. If it’s legal where you live, you will get more value out of rolling up your money and smoking it then buying this stock.

Disclosure: The author holds no position in any stock mentioned.