NEWTOWN, CT--(Marketwired - Feb 27, 2017) - Halitron, Inc. (the "Company," "Halitron") (OTC PINK: HAON), a holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today announced that it is in the final stage of a spin out and merger transaction that has been in the works for the past three months.
Two of Halitron, Inc.'s wholly-owned brands which have over 300,000 consumers on their customer lists are in the ever-growing scrapbooking marketplace. These two brands are in the process of being spun out into an online social marketing/digital storage company which is currently a public company. The Company anticipates that the acquiring company's platform may be able to fill the gap as a cross between Facebook, Inc. in social marketing, and Ancestry.com in researching public records.
In exchange, shareholders of Halitron, Inc. (OTC PINK: HAON) are currently expected to receive a stock dividend of 40 shares of the digital scrapbooking company's common stock for every 1,000 shares of Halitron, Inc. common stock owned, subject to review and approval by the Financial Industry Regulatory Authority (FINRA).
More details regarding this transaction including final stock dividend ratio, share price, record and payable dates, the revenue model, and its new stock symbol, will be announced upon completion of the transaction.
Throughout 2016, Halitron acquired four legacy brands:
The primary assets acquired were the brands, and associated customer lists, Web sites, and creative artwork. The brands have been operating on idle through the second half of the year contemplating a capital infusion to implement the Company's growth plans with regard to those brands.
Halitron is on target to raise the $300,000 necessary to proportionately increase sales of its four existing legacy brands to between $3 to $5 million annually.
Halitron engaged Freidman LLP to audit the books and records of Halitron in preparation for listing on the OTCQB market. The US GAAP audit is expected to be completed by the end of March 2017 followed by the filing of an annual report on Form 10-K with the SEC and the application to be listed on the OTCQB as a fully reporting company by mid-year 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:
Printed point of purchase and office organization segment:
Archival grade scrapbooking supplies and storage solutions:
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.