LOS ANGELES, March 3, 2010 (GLOBE NEWSWIRE) -- Hop-on, Inc. (Pink Sheets:HPNN) (www.Hop-on.com) today announced original and long standing CEO and President, Peter Michaels, is voluntarily stepping down as president.
Michaels stated, "It is with great admiration I announce Jay Pignatello as newly appointed President and CEO of Hop-on. As President, Jay will be overseeing Hop-on's day to day operations and do what he does best: carry Hop-on to a full reporting status. Over the last several months and year, I have focused my efforts on the development of new products and revenue streams for Hop-on and its shareholders. I truly believe the company is best served if I focus my efforts on product development, without the responsibilities and time constraints of running a public company."
Jay Pignatello, incoming President and CEO of Hop-on, stated, "Mr. Michaels has provided years of dedicated and unmatched service to Hop-on and its shareholders. His efforts, coupled with his significant personal financial investment in the company, have allowed us to survive the rough times. These rough times have given us huge opportunities as a company. Going forward, Hop-on will continue with its telecommunications efforts and will utilize Mr. Michaels' services and creative abilities. As a step to increasing shareholder confidence, we anticipate our Pinksheets.com listing, currently at Yield, will show Full Disclosure shortly. We are confident Hop-on shareholders can expect significant revenue increases this year."
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 U.S.-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.