Halitron, Inc. (HAON) Announces Financial Results
Post# of 146
Posted On: 04/01/2016 7:00:56 PM
Halitron, Inc. (HAON) Announces Financial Results for First Year Operating Under Equity Holdings Business Model
Before the opening bell, Halitron, Inc. (OTC: HAON) announced the financial results for its first year operating under its new equity holdings business model, which ended December 31, 2015. Throughout 2015, the company generated $1,182,726 in gross sales at 73 percent gross profit. Sales, general and administrative expenses totaled $718,993, while Halitron’s net income was $146,025. The company also reported $59,476 of expenses relating to the costs associated with being a public company.
“2015 was an excellent first year of operations under our revised equity holdings business model,” Bernard Findley, chief executive officer of Halitron, stated in this morning’s news release. “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.”
As of December 31, 2015, Halitron’s cash on hand totaled $11,540, and accounts receivable totaled $633,924. In the first quarter of 2016, the company’s management team successfully leveraged this modest working capital balance, in combination with the distribution of stock grants, to complete four accretive acquisitions that are expected to drive sustainable growth in the coming months. Following the completion of its acquisition of ArchivalPhotoPages, which was announced earlier this week, Halitron is on a run rate to generate over $10 million in sales over the next three years, including sales from its current pipeline of acquisitions.
“Early in 2016 we continued to use restricted stock as form of currency to help drive the growth of the business,” continued Findley. “The results from these transactions are 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.”
Since 2015, Halitron has completed seven acquisitions, with four coming since the beginning of this year. Halitron’s current assets are structured into two strategic business units, including a sales and marketing division and a manufacturing division. Through its sales and marketing division, the company owns NDG Holdings, Inc., a digital marketing firm acquired in January 2015; PiecesInPlaces, a brand sales business acquired in February 2016; and ArchivalMuseumSupplies and ArchivalPhotoPages, two leading direct marketing brands acquired in March 2016. Through its manufacturing division, Halitron owns and operates PRD Holdings, Inc., a manufacturing asset based in Mexico. The company is actively seeking out additional acquisitions to roll into its existing operations in order to better capitalize on the foundation created by its current infrastructure.
For more information, visit www.halitroninc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Before the opening bell, Halitron, Inc. (OTC: HAON) announced the financial results for its first year operating under its new equity holdings business model, which ended December 31, 2015. Throughout 2015, the company generated $1,182,726 in gross sales at 73 percent gross profit. Sales, general and administrative expenses totaled $718,993, while Halitron’s net income was $146,025. The company also reported $59,476 of expenses relating to the costs associated with being a public company.
“2015 was an excellent first year of operations under our revised equity holdings business model,” Bernard Findley, chief executive officer of Halitron, stated in this morning’s news release. “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.”
As of December 31, 2015, Halitron’s cash on hand totaled $11,540, and accounts receivable totaled $633,924. In the first quarter of 2016, the company’s management team successfully leveraged this modest working capital balance, in combination with the distribution of stock grants, to complete four accretive acquisitions that are expected to drive sustainable growth in the coming months. Following the completion of its acquisition of ArchivalPhotoPages, which was announced earlier this week, Halitron is on a run rate to generate over $10 million in sales over the next three years, including sales from its current pipeline of acquisitions.
“Early in 2016 we continued to use restricted stock as form of currency to help drive the growth of the business,” continued Findley. “The results from these transactions are 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.”
Since 2015, Halitron has completed seven acquisitions, with four coming since the beginning of this year. Halitron’s current assets are structured into two strategic business units, including a sales and marketing division and a manufacturing division. Through its sales and marketing division, the company owns NDG Holdings, Inc., a digital marketing firm acquired in January 2015; PiecesInPlaces, a brand sales business acquired in February 2016; and ArchivalMuseumSupplies and ArchivalPhotoPages, two leading direct marketing brands acquired in March 2016. Through its manufacturing division, Halitron owns and operates PRD Holdings, Inc., a manufacturing asset based in Mexico. The company is actively seeking out additional acquisitions to roll into its existing operations in order to better capitalize on the foundation created by its current infrastructure.
For more information, visit www.halitroninc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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