Hop-on, Inc. , the leading developer of disposable and fully recyclable cell phones and wireless accessories, today issued the following clarification.
Over the past two days, the Company has announced two separate purchase orders: one valued at over $9 million and one valued over $1.7 million. In addition, the Company secured other purchase orders, while at the Cellular Telecommunications & Internet Association (CTIA) wireless trade show.
In total, the purchase orders generated are valued at over $12 million. Each of the purchase orders will be backed by an irrevocable letter of credit to finance the manufacturing of the Company's GSM model 1806 cell phone, and related cell phone accessories. Shipping in Latin America and South America is expected to start this May.
About Hop-on
Hop-on is the developer and marketer of the world's first disposable, recyclable and contract free cell phone. Hop-on's CDMA phones, which provide a much-needed alternative to full service cellular contracts and prepaid calling cards, are recyclable, include a rechargeable battery and the capability to add on additional minutes. Hop-on is also marketing a GSM phone, which expands its product offerings for applications in various other global markets.
Hop-on also designs, manufactures and markets a full line of innovative and attractively priced wireless accessories, which are compatible with handsets produced by the leading manufacturers. These accessories include wireless surveillance systems, wireless hands-free (RF) headsets, car chargers with pivoting heads and retractable cords, jeweled headsets, OEM faceplates, flashing batteries, and carrying cases, among other products. For more information, visit http://www.hop-on.com/.
This Company's news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, software functionality and capacity, timing of the commencement of operations and cash flow, and are indicated by words or phrases such as "anticipate," "estimate," "plans" and similar words or phrases. The following are among the principal factors that could cause actual results to differ materially from the forward-looking statements: general business and economic conditions in the Company's operations, including the rate of inflation, population, employment and job growth rate, the pricing pressures and other competitive factors and issues arising from year 2000 information technology issues. Consequently actual events and results may vary significantly from those included in or contemplated or implied by such statements.
Contact: David Pasquale, 646-536-7006 Jim Olecki, 646-536-7021 both of The Ruth Group http://www.theruthgroup.com/
CONTACT: David Pasquale, +1-646-536-7006, or Jim Olecki, +1-646-536-7021, both of The Ruth Group, for Hop-on
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