$HAON huge news! Halitron, Inc. Generates Over $1M
Post# of 44832
Posted On: 04/01/2016 10:21:08 AM
$HAON huge news! Halitron, Inc. Generates Over $1M in Sales
Company Announces Financial Results of First Year Operating Under the New Equity Holdings Business Model
http://finance.yahoo.com/news/halitron-inc-ge...00243.html
NEWTOWN, CT--(Marketwired - Apr 1, 2016) - Halitron, Inc. (OTC: HAON), an equity holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today is excited to announce financial results for the year ending December 31st, 2015.
Halitron Inc. generated $1,182,726 in gross sales at 73% gross profit. Sales, General & Administrative Expenses was $718,993 and Net Income/Loss was $146,025 or $.0006 Earnings Per Share. The Company also had $59,476 of expenses relating to the costs associated with being a public company.
Mr. Findley comments, "2015 was an excellent first year of operations under our revised equity holdings business model. We acquired three businesses, exited two transactions which had a favorable impact on the fourth quarter financial results in Other Income, completed the two-year audit, posted historical data to the OTC Markets Filings and Disclosure section, raised equity capital, and built an incredible pipeline of acquisitions going into 2016."
Cash on hand as of December 31, 2015 totaled $11,540 and Accounts Receivables totaled $633,924. Accounts Payable was $188,030 and Net Working Capital totaled $518,204. The Company has other debt including Shareholder Loans, Accrued Compensation, and Note Payables totaling $363,990. $247,106 in Current Liabilities will not carry into 2016 as the debt was maintained by iDeal in the exit transaction in December of 2015.
Mr. Findley continued, "Halitron's Balance Sheet is well positioned for 2016 with a modest amount of working capital to maintain and grow its public company status which hopefully will lead to an up-listing to the OTCQB market later this year. Historically, with limited amount of cash for growth support throughout 2015, the Company utilized stock grants as form of payment for services and on a number of acquisition transactions."
"Early in 2016 we continued to use restricted stock as form of currency to help drive the growth of the business. The results from these transactions is expected to drive profitability and cash flows late in the year, which will presumably lead to increased stock price and provide management the opportunity to raise additional capital to help support the equity holding model whereby the Company can use cash as a larger portion of paying for the enterprise value of target acquisitions. Our objective is to seek out businesses that have an accretive aspect to existing operations whereby the target acquisition is contributing to the bottom line upon the day of acquisition," concluded Mr. Findley.
Company Announces Financial Results of First Year Operating Under the New Equity Holdings Business Model
http://finance.yahoo.com/news/halitron-inc-ge...00243.html
NEWTOWN, CT--(Marketwired - Apr 1, 2016) - Halitron, Inc. (OTC: HAON), an equity holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today is excited to announce financial results for the year ending December 31st, 2015.
Halitron Inc. generated $1,182,726 in gross sales at 73% gross profit. Sales, General & Administrative Expenses was $718,993 and Net Income/Loss was $146,025 or $.0006 Earnings Per Share. The Company also had $59,476 of expenses relating to the costs associated with being a public company.
Mr. Findley comments, "2015 was an excellent first year of operations under our revised equity holdings business model. We acquired three businesses, exited two transactions which had a favorable impact on the fourth quarter financial results in Other Income, completed the two-year audit, posted historical data to the OTC Markets Filings and Disclosure section, raised equity capital, and built an incredible pipeline of acquisitions going into 2016."
Cash on hand as of December 31, 2015 totaled $11,540 and Accounts Receivables totaled $633,924. Accounts Payable was $188,030 and Net Working Capital totaled $518,204. The Company has other debt including Shareholder Loans, Accrued Compensation, and Note Payables totaling $363,990. $247,106 in Current Liabilities will not carry into 2016 as the debt was maintained by iDeal in the exit transaction in December of 2015.
Mr. Findley continued, "Halitron's Balance Sheet is well positioned for 2016 with a modest amount of working capital to maintain and grow its public company status which hopefully will lead to an up-listing to the OTCQB market later this year. Historically, with limited amount of cash for growth support throughout 2015, the Company utilized stock grants as form of payment for services and on a number of acquisition transactions."
"Early in 2016 we continued to use restricted stock as form of currency to help drive the growth of the business. The results from these transactions is expected to drive profitability and cash flows late in the year, which will presumably lead to increased stock price and provide management the opportunity to raise additional capital to help support the equity holding model whereby the Company can use cash as a larger portion of paying for the enterprise value of target acquisitions. Our objective is to seek out businesses that have an accretive aspect to existing operations whereby the target acquisition is contributing to the bottom line upon the day of acquisition," concluded Mr. Findley.
(0)
(0)Scroll down for more posts ▼