Hop-On Inc (OTCMKTS:HPNN) Stock On Radar After Securing $26 Million in Bond Financing
On Tuesday, Hop-On Inc (OTCMKTS:HPNN) made a major new announcement with regards to its decentralized social media product Digitalage and it could bring the stock into considerable focus among investors today. The company announced yesterday that it had managed to secure bond financing to the tune of as much as $26 million for the platform.
Trading Data
On Tuesday, HPNN stock ended flat at $0.0009 with more than 23.12 million shares, compared to volume of 9.65 million shares. The stock moved within a range of $0.0007 – 0.0011 after opening trade at $0.0008.
Hop-on, Inc. Secures $26 Million in Bond Financing for Decentralized Social Media Platform Digitalage
The bond financing is going to be released at some point during the first quarter of 2023. It should also be noted that it would also lead to the unlocking of a mezzanine round worth as much as $5 million that will be made available to Hop-On immediately for the purpose of continuing with the development of the Digitalage platform.
At a time when social media platforms are seen as tools of communication, Digitalage is seen as a highly innovative product which provides users the freedom to have control of their own data. It also provides them the opportunity to interact with others in a secure and decentralized ecosystem.
It is important to note that the platform has already managed to garner a considerable following and the latest round of financing is going to allow Hop-On to improve the product considerably.
Key Quote
“We are thrilled to have secured this bond financing, which will allow us to continue to develop Digitalage and bring our vision of a decentralized social media platform to fruition,” said Peter Michaels, CEO of Hop-on, Inc. “This is a major milestone for our company, and we are grateful for the support of our investors and the wider community.”
