NEWTOWN, CT--(Marketwired - Jun 24, 2016) - Halitron, Inc. (the "Company") (OTC PINK: HAON), an equity holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today is excited to provide clarity into key topics to further drive shareholder interest in attracting new, long term investors.
Restricted Common Stock Conversion
An affiliate investor has converted 243 million restricted common shares to Preferred Class B shares, which has lowered the current common equity market capitalization, and frees up authorized shares for future accretive acquisitions. The impact of the transaction lowered issued shares to 307 million, of which the affiliate investor now owns 81.7 million restricted common shares. The Preferred Class B shares will be utilized in fully diluted earnings per share calculations, but cannot be converted to common stock for two years. The Board has signed off on all paperwork relating to the transaction and management will be filing all paperwork with the Nevada Secretary of State over the next few weeks so the data will appear on Silver Flume, Nevada's Secretary of the State online portal.
Bernard Findley, Chief Executive Officer of Halitron Inc. states, "By converting the Restricted Common Shares to Preferred Stock that creates an additional benefit to the current shareholders as it supports market capitalization as well as frees up common shares for future acquisitions. I am also very confident in executing on our incredible business model with a robust pipeline of future acquisitions along with the expected closing of a non-toxic capital raise over the next quarter."
Management utilizes the stock of the corporation as a form of compensation for acquisitions, services, and incentives for employee and stakeholders. The Company has issued restricted common shares in these instances whereby if the recipient holds the stock for one year, submits the proper paperwork including an SEC approved attorney opinion letter, the restriction can be removed and the stock can be deposited into a brokerage account.
Below is a summary on Authorized and Issued as of June 23, 2016:
Below is a detailed outline of Issued Shares as of June 23, 2016:
|Affiliate Restricted Shares
|Non-Affiliate Restricted Shares
About Halitron, Inc.
Halitron, Inc., an equity 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: http://www.otcmarkets.com/stock/HAON/video-and-presentations
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.