NEWTOWN, CT--(Marketwired - Mar 6, 2017) - Halitron, Inc. (the "Company") (OTC PINK: HAON), a holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today is excited to announce closing on a credit facility to fund its 2017 growth plan.
Halitron announced in its press release of February 27, 2017 that it was targeting to raise the $300,000 necessary to increase sales of its four existing legacy brands to between $3 to $5 million annually.
Management is pleased to announce the $300,000 debt financing is in the form of a "non-toxic" (i.e., the debt thereunder is not convertible into equity at a discount to prevailing market prices), one year credit facility whereby the Company may draw down minimum increments of $5,000, up to a total of $300,000, which carries an annual interest rate of 8%. The credit facility has a due date of 12 months from the date of each draw down, and the ability to draw down expires in 12 months. There are no prepayment penalties.
"Today we are drawing down our first tranche of capital and are excited to implement our strategic plan," stated Bernard Findley, Halitron, Inc.'s Chief Executive Officer. "Last year we were offered a similar credit facility, which for the benefit of our shareholders, we chose not to accept because of its potential adverse effects it could have had on our stock."
The plan is to utilize the capital cautiously and correlate the incoming capital directly to increasing shareholder value through growth in sales, future acquisitions, and further developing the Halitron corporate pedigree.
Halitron also recently engaged Freidman LLP to perform an audit of Halitron in preparation for listing on the OTCQB market. The audit is expected to be completed by the end of March 2017 followed by the filing of an annual report (Form 10-K) with the SEC and an application to be listed on the OTCQB as a fully reporting company by mid-year 2017.
Halitron, Inc. is expecting to announce an update on the spin out, merger, and dividend details of the two major projects which were also included in the press release of February 27, 2017.
About Halitron, Inc.
Halitron, Inc., a holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. The Company is structured with two Strategic Business Units: Sales & Marketing Division and a Manufacturing Division. 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.
To learn more about our business model, please visit:
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.
Sales & Marketing Division -- Companies that have operations in traditional marketing services and branded sales opportunities.
Current Equity Assets/Holdings:
Manufacturing Division -- Companies that have operations in the manufacturing industry.
Current Asset/Equity Holdings:
- PRD Holdings Inc. -- Mexican-based manufacturing
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.