Sales Growth, Expansion, Brand Development, and Strategic Acquisitions All Part of the Business Plan for 2018.
NEWTOWN, CT, March 05, 2018 (GLOBE NEWSWIRE) -- Halitron, Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to provide a shareholder update on its key 2018 business initiatives.
- The Hopp Company Integration. The Management team excelled at integrating the Hopp assets into Halitron’s infrastructure. Manufacturing operations were shut down in New Hyde Park, New York on Friday, February 2, 2017, equipment tested throughout that weekend, and, as projected, the first orders began shipping on Monday, February 5, 2017. Management will be finalizing the exit from the New York facility over the coming months which will have a favorable impact on its income statement.
- Audit and Up List to OTCQB. Halitron has re-engaged Freidman LLP to complete the 2017 audit, which is one of the qualifying factors to up list to the OTCQB exchange. Friedman was previously engaged to provide audit work for the period ending September 30, 2016, and will continue to finalize the project through September 30, 2017 over the coming months.
- Share Buy Back. Another requirement for the up list is a share price of $0.01 or higher and the Company, as previously announced, is currently engaged in a share buyback program to help support increased share price. Management is forecasting increased purchases over the coming months based on projected increasing cash flows, as the New York facility is closed, and the Company reaps the benefits of reduced overhead.
- No Reverse Split Planned. As previously communicated July 11, 2017, Management does not anticipate a reverse split of the stock to achieve the increased share objective but rather is forecasting for increased sales along with future accretive acquisitions whereby the cash flow from operations can be utilized to buy the shares back in the open market.
- Tijuana, Mexico Manufacturing Facility. Since 2015, Management outlined a two-location footprint for the acquisition roll-up business model, whereby the target businesses would be acquired and then utilize the existing infrastructure (Please view the video tab at OTC Markets: HAON). Whenever possible, we will utilize our Connecticut location to absorb operations and, in the instances, where an even lower cost infrastructure is required, we will utilize operations in Tijuana, Mexico. Management has targeted a 5,000 square foot facility and is arranging for the purchase of a broad range of manufacturing equipment and legally organizing a Mexican corporation to effect business.
- Brand Development. In 2016, Halitron acquired four brands; two brands in the printed point of purchase (POP) / office supply business and two brands in the tangible archival storage business. After test marketing the customer lists of over 400,000 contacts with incredible success, Management focused on developing Halitron’s corporate image, and share structure. With approximately 1,700 shareholders of record and a very liquid trading market for its shares, Management is in in the process of implementing growth initiatives including cross-marketing the Hopp Company’s products to Halitron’s 125,000+ POP customer list while at the same time developing the print manufacturing facility to introduce the printed POP products to HOPP’s 6,000+ customer base. Additionally, with the startup of the Tijuana, Mexico manufacturing facilities later in the year, Management will combine the customer list from the other two archival brands and launch a tangible scrapbooking brand followed on by an effort to commercialize a digital scrapbooking offering to complement traditional scrapbooking.
- Acquisitions. Management has targeted a number of strategic and accretive acquisitions and is varying stages of negotiations. One target is in the retail display business and complements Hop’s business model and the other is an $8M+ revenue company in the consumer products space. As the projects develop we will provide updates on the process.
About Halitron, Inc.
Halitron, Inc., a multisector holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. Management targets operating entities that can either benefit from current operating infrastructure or operate autonomously and offer an additional product or service to scale existing operations. For more information on Halitron, Inc., please visit: www.halitroninc.com.
Halitron is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron is not registered with FINRA or SIPC.
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Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. Halitron, Inc. is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron, Inc. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron, Inc. is not registered with FINRA or SIPC.