Halitron, Inc. (HAON) Announces Acquisition of iDealFurniture, LLC

Halitron recently announced its acquisition of iDealFurniture, LLC, a national network of independent furniture brokers. Through the acquisition, Halitron now controls a collection of over 40 established web properties, as well as 17 Regional Market Developers, 45 Distribution Centers and over 250 brokers with initial sales in 2014 totaling $800,000.

The iDealFurniture business model is very attractive in that it leverages a large and growing field force of independently owned territories with online marketing and educational tutorials. Halitron expects to begin with the acquisition and conversion of independent brick and mortar furniture stores, which have been struggling throughout the nation in recent years. By increasing its network of locations, the company hopes that iDealFurniture will become a recognizable name in the United States in as little as five years.

“Over 75% of small independent stores have closed down since 2008,” said Bernard Findley, Chief Executive Officer of Halitron. “By leveraging our existing resources on the marketing side with the buying power of a single buying agent in iDealFurniture, we expect sales growth in the future.”

iDealFurniture’s business model has involved the sale of home based businesses, regional territories and distribution centers, as well as a commission-based program for the sale of products throughout the company’s network. Unlike independent furniture stores, iDealFurniture provides its brokers with the opportunity to avoid massive overhead costs and excess inventory in order to allow for a profitable business from the very beginning.

“The brick and mortar furniture retailers have had a very difficult period due to the economy and expensive retail setup and operations,” stated iDealFurniture President, John Bellave. By creating a low cost solution and allowing the entrepreneur to leverage the purchasing power of the company’s established marketing conduits, Halitron, through its recent acquisition, creates a more practical solution for a large market of entrepreneurs looking to develop a more sustainable retail solution.

Unlike other sectors, brick and mortar furniture sales remain strong despite rapid ecommerce growth. According to studies by Furniture/Today, as many as 47% of consumers say that they’d never buy a sofa online, and approximately 72% of all shoppers still prefer to shop for furniture in physical stores. With this data in mind, the future looks bright for the company, which plans to release an updated mission statement and strategic plan in the coming weeks.

Halitron completed the acquisition of iDealFurniture in exchange for the issuance of 20,689,655 common stock shares, along with up to 5,000,000 options with a December 31, 2015 strike price of $0.052 based on the achievement of unspecified financial milestones.

For more information, visit www.halitroninc.com

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