Hop-on declares Controversial Internet Gambling Hearing with EU will be Unsuccessful
IRVINE, Calif.--(November 14, 2007)--Hop-on, Inc. (OTC:HPNN), a leading developer and marketer of wireless phones and accessories, and the foremost creator of mobile gambling technology, has high hopes for the House Judiciary Committee’s hearing on Internet gambling being held tomorrow in Washington, but doubts an agreement will be met with the EU.
The hearing is being held amidst increasingly contentious trade disputes over the fast-growing online gaming industry and the potential $100 billion requested in compensation from Europe’s trade commissioner, for blocking the American gambling market to overseas operators.
Legislation introduced by Representative Barney Frank (D-MA), the Internet Gambling Regulation and Enforcement Act, would regulate Internet gambling and possibly bring the U.S. into compliance with W.T.O. rules by creating a level playing field among domestic and international operators.
The Internet Gambling Regulation and Enforcement Act seeks to create safeguards to ensure an individual placing a bet or wager is 18 years of age or older, is not a compulsive gambler; uses safeguards to combat fraud and money laundering; adds mechanisms to ensure all appropriate taxes and fees are collected from individuals and licensees; and places safeguards to ensure that the individual placing a bet or wager is physically located in a jurisdiction that permits that form of Internet gambling. Although Hop-on supports the act it also believes the Act will be unsuccessful overall, because the EU lacks credible means to prove they’ve met American standards. Furthermore, Hop-on feels that EU should be excluded from online gambling business in the U.S. in order to keep revenue within the country.
As the only American handset manufacturer currently developing software, licensing and regulations for online gambling via mobile phones, Hop-on, Inc. is filling a growing market demand. By accepting bets from the U.S. and other W.T.O. counties, Hop-on will keep millions of tax dollars flowing back to the American government while ensuring its customers can wager in the most secure, easy-to-operate environment. The company’s own regulations are far stricter than the proposed Internet Gambling Regulation and Enforcement Act, and ensures the safety, privacy and legality of its players, all of which are verifiable over 21, the legal gambling age in the U.S. As a U.S.-based company, revenues will benefit American interests.
“Today’s hearings are highly anticipated,” says president of Hop-on, Inc., Peter Michaels. “I am looking forward to a fair resolution and a successful online gambling industry, boosted by Hop-on’s unique mobile wagering program. I hope that an agreement can be reached that will keep American businesses more profitable than the EU.”
About Hop-on, Inc.
HOP-ON (OTC:HPNN) develops and markets wireless phones and accessories. Its product line includes the both CDMA2000 and GSM/GPRS handsets for emerging market carriers and other domestic carriers as well as resellers needing an entry level priced phone and is best known for developing the world's first disposable cell phone. Currently, HOP-ON is expanding into value-added services, like mobile gambling and SMS wagering. HOP-ON’s exclusive software will allow users to stream live interactive feed from legal jurisdictions to play poker, blackjack, roulette and baccarat on personal cell phones.
For more information, visit www.Hop-on.com.
This news release includes forward-looking statements regarding, among other things, the Company's business and financial plans, strategies and prospects. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot provide assurance that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as: believe, expect, anticipate, should, planned, will, may, intend, estimated, and potential, among others. Important factors that could cause actual results to differ materially from the forward-looking statements made in this news release include market conditions and those set forth in any reports or documents that the Company may publicly file from time to time. All forward-looking statements attributable to the company or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Contact:
Hop-on, Inc.
Danny Coleman, 949-756-9008 |
