Hop-on, Inc. (OTC Pink: HPNN) (PINKSHEETS: HPNN), a global electronics OEM, announced today that Hop-on and Teleepoch, Ltd. have agreed to terms regarding manufacturing, distribution, and intellectual property royalties under Hop-on's agreement with Microsoft.
Teleepoch has agreed to an upfront fee in the six figure range. Other contract terms between Hop-on and Teleepoch remain confidential.
Hop-on is actively perusing ODMs and OEMs of smartphones, tablets, televisions, set-top boxes, eReaders, portable navigation devices, and the like that can benefit from Hop-on's license agreements to essential patents for devices running the Android and Chrome OS.
Teleepoch Ltd. is a pioneer in providing convergent solutions and designs of CDMA, GSM, 3G, GPS and Mobile TV handsets, data devices, as well as PDAs. Teleepoch's principal office is in Shenzhen, China.
Peter Michaels, President of Hop-on stated, "Teleepoch, in addition to their existing Qualcomm worldwide patent licenses, now has access to the Android and Chrome OS in the United States and throughout Europe. In such a litigious marketplace, where unlicensed products are being stopped by customs and companies as prolific as Motorola are receiving injunctions, Hop-on, as a licensee of Microsoft's Android OS patent portfolio, is proud to have entered into this contract with Teleepoch."
ABOUT HOP-ON, INC.
Hop-on, Inc. is a global OEM manufacturer of portable electronic devices, based in the United States. Over the past 20 years, Hop-on has successfully secured essential patents for mobile communications and computing technologies, and is respected for developing the world's first disposable cell phone. Hop-on's focus on smartphones and innovative mobile device applications is bringing cost friendly solutions to today's demanding world market. For more information, please visit www.hop-on.com
This press release contains forward looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the company's plans to change and are in no way intended to guarantee that the company will be successful in executing its plans. Hop-on, Inc. common stock currently trades on the over-the-counter "Pink Sheets" under the symbol HPNN. This press release in no way constitutes any recommendation regarding the securities of HPNN or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of HPNN, and no inference has been made that this release contains all such information.
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SOURCE: Hop-on, Inc.