Management has begun to & is committed to buying additional shares back in the open market to help support an increase in share price, of up to $0.01 per share.
Halitron, Inc. (OTCMKTS:HAON)
MIAMI, FLORIDA, USA, February 28, 2018 /EINPresswire.com/ — EmergingGrowth.com Newswire – 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).
Halitron’s (OTC Pink: HAON) just announced that it reported $724,000 in sales for 2017 and $407,000 in Q4 2017 alone.
See more recent news and updates from Halitron, Inc. (OTC Pink: HAON) here.
Highlights from Halitron, Inc.'s (OTC Pink: HAON) Financial Press Release:
Sales have increased to approximately $407K in Q4, 2017, which represents 150% over approximately $163K for Q3 3017. There were no sales for 2016 to compare, as the strategic acquisition is now the foundation for the team to build on.
Direct Gross Margins for the portfolio manufacturing company were 65.6% for the quarter.
Management has begun to and is committed to acquiring additional shares back in the open market to help support an increase in share price, of up to $0.01 per share. This is done in an effort to meet one of the qualifying factors of an up-list to the OTCQB.
A US GAAP audit, another qualifying factory for the up list to the OTCQB will commence quickly as the relocation of the HOPP assets is now nearly complete.
Management will provide an update over the coming weeks on a more precise timeline on its completion.
According to OTC Markets, the current market cap of Halitron, Inc. (OTC Pink: HAON) is approximately $2.4 million and as such, its shares can have a dramatic upside.
Other recent developments of Halitron, Inc. (OTC Pink: HAON)
Halitron, Inc. (OTC Pink: HAON) also 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.
Growth and shareholder valuation has always been Halitron’s priority. We are excited to see the prior two years of hard work come to fruition. Halitron has been looking into other acquisition targets in many growth sectors as a further investment for our shareholders, but in order to differentiate ourselves from the masses, we will only enter into a transaction with a company that has an already established foothold in a specific growth space.
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Source: EIN Presswire