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
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment