Halitron has begun to buy back shares in the open market as disclosed in its filing to with the objective to increase its share price to $0.01 per share.
Halitron, Inc. (OTCMKTS:HAON)
MIAMI, FLORIDA, USA, January 22, 2018 /EINPresswire.com/ — Emerging Growth NewsWire – January 22, 2018 – EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Halitron, Inc. (OTC Pink: HAON).
See the full Press Release here:
Halitron, Inc. (OTC Pink: HAON) just announced the successful negotiations to modify an existing agreement to reflect the following impact on Halitron’s financial books and records.
Halitron has returned 56 million restricted common shares and 80 million Life’s Time Capsule Services, Inc.’s (“LTCP”) Preferred Stock C shares to LTCP in exchange for the receipt of a note payable for $3 million, bearing interest of 4%, which matures in July 2020.
In the transaction, the assets sold to LTCP in the original transaction will revert to a Halitron asset on its balance sheet. In 2020, upon receipt of the $3 million principal and interest along with Halitron’s Board of Directors’ approval, Management will submit corporation action paperwork to FINRA for the issuance of a cash dividend to its shareholders, of which record, and payment dates will be announced post receipts of the settlement of the note payable for $3 million.
Halitron has also begun to buy back shares in the open market according to the “black-out” periods disclosed in its filing to OTC Markets with the objective to increase its share price to $0.01 per share. The $0.01 share price is one of the requirements by OTC markets to uplist to the OTC QB. The number of shares and price paid will be listed in its quarterly filings.
Recently, Halitron, Inc. (OTC Pink: HAON) announced that it booked $342,000 in revenue for the fourth quarter 2017 which represents a 110% increase in sales over the third quarter 2017.
The company stated in its press release… “With a market cap of only approximately $1,324,000, Management is excited to announce that its sales for the three months ended December 31, 2017, have been recorded at approximately $342,000, which represents an increase of 110% over its previous quarter sales of approximately $163,000, for the three months ended September 30, 2017.”
If sales continue at only half this pace throughout 2018, the company could be looking at over $3 million in sales for 2018.
The current market cap of Halitron, Inc. (OTC Pink: HAON) is approximately $1.3 million, its shares can have a dramatic upside.
Previously the company announced that margins are also expected to increase due to its reduction of a manufacturing cell expenses by 65% after a move from Newton CT, to New Hide Park NY.
Halitron, Inc. (OTC Pink: HAON) is also currently completing its audit which will allow it to qualify for an up list to the OTCQB in the early part of 2018.
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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Source: EIN Presswire