HPNN News Hop-on DTCC Chill Clarification, FINR

TEMECULA, Calif., May 3, 2012 /PRNewswire/ -- Hop-on, Inc. (OTC: HPNN) announced today that it had retained SEC Attorney Joseph Pittera to resolve the chill issued by DTCC and any other outstanding issues involving DTCC. The Company's stock was heavily shorted by Market Markers on Tuesday and Wednesday.

Peter Michaels, CEO of Hop-on, stated, "Hop-on does not have a CHILL on its trading ability primarily due to the amount of shares already in electronic format in the DTCC system. The 'chill order' means that the Company's stock cannot be transferred using DTC brokers, limiting them from freely trading the company stock without hurdles resulting in shareholders inability to buy or sell stock in the open market. No notice or explanation was received prior to the chill or after the chill was put in place a move which has clearly damaged investor confidence. Market Markers are taking advantage of the negative so called "Chill". The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect America's investors by making sure the securities industry operates fairly and honestly.