$HAON NEWTOWN, CT--(Marketwired - Aug 31, 2016) -
Post# of 146
Posted On: 08/31/2016 9:05:20 AM
$HAON 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.
Financial Summary:
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.
Capital Raise:
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.
Acquisition Pipeline:
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.
(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. Financial Summary:
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.
Capital Raise:
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.
Acquisition Pipeline:
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.
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