NEWTOWN, CT--(Marketwired - Aug 31, 2016) - Halitron, Inc. (the "Company") (OTC PINK: HAON), an equity holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today announced second quarter 2016 financial results and provided a shareholder update including its capital raise initiatives, and reconfirmed its acquisition pipeline.
Halitron, Inc. generated $58,392 in sales for its second quarter and a net loss of $133,973. Without investing in any branded marketing initiatives throughout the quarter the Company still generated significant sales. Upon the close of the previously outlined $300,000 capital raise or other forms of financing, sales will increase dramatically levering a very efficient and scalable business model. Gross Margins were 67% or $39,123. Operating losses were primary due to increased advertising activity.
For the second quarter, one of our main objectives was increasing our shareholder base as well as the volume of stock trading, which resulted in a much closer bid / ask spread. Of the $211,035 of operating expenses for the quarter, $84,563 was expensed for stock marketing support of which $50,000 was paid in restricted stock. Also, the Company incurred $82,641 in consulting expenses which was also paid in restricted stock.
With a successful capital raise of up to $300,000 the operating units will be able to generate $3 million to $5 million in sales over a 12-month period. Until the capital is raised Management will operate within the cash flows constraints of a small company and utilize restricted stock as a form of payment for services whenever possible.
The Company continues negotiations with numerous acquisition candidates and expects to close on number of acquisitions throughout the remainder of the year. In some cases, these acquisitions will lever current infrastructure and in other instances the target acquisitions will operate as a stand-alone business.
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.