Business
Halitron, Inc. Exits iDealFurniture LLC
Halitron, Inc. Exits iDealFurniture LLC.
About this update from Halitron Inc
[{"type":"text","content":"Halitron, Inc. Exits iDealFurniture LLC\nand Related Businesses\n\n \n\nNewtown,\nCT (January 8th, 2016) /OTCMarkets/\n– Halitron, Inc. (OTCPK:HAON), an equity holding company implementing\na roll-up of sales, marketing, and manufacturing businesses, today is excited\nto announce the exit of the iDealFurniture LLC, ChamberBusinessCenters, and\nrelated brands and businesses. \n\niDealFurnitire, LLC was acquired on\nFebruary 10th, 2015 in a stock transaction with the issuance of 20,689,655 restricted common shares and the\n5,000,000 in stock options based on 2015 financial performance. ChamberBusinessCenters was acquired on September\n24th with the issuance of 5,000,000 restricted common shares. \n\nBernard Findley, Halitron’s Chief\nExecutive Officer, commented, “Halitron is an equity holding company and its\nbusiness model is to acquire, develop, and in some cases, exit its strategic\ninvestments with the main objective of creating shareholder value. While this holding was only operating within\nthe Halitron model for less than a year, the businesses were able to pay down\nsignificant debt, maintain historical sales levels, and continue to evaluate\nand develop certain strategic initiatives. \nThe financial impact of the transaction resulted in a favorable 10.3% increase\nin Halitron’s equity \n\nIn the exit of the portfolio holdings,\nHalitron Inc. re-acquired 28,315,690 restricted common shares and the 5,000,000\nstock options were also eliminated. The\nresult of the transaction was a 10.3% reduction of outstanding shares from 275,725,129\ndown to 247,409,539.\n\nAbout\nHalitron, Inc.\n\nHalitron, Inc. (OTC: HAON) is an\nequity holding company focused on acquiring sales, marketing, and\nmanufacturing businesses, and rolling them into an efficient, low cost\noperating infrastructure. The Company is\nstructured with three Strategic Business Units; Sales Division, Marketing\nDivision, and a Manufacturing Division. Management\ntargets operating entities that can either benefit from current operating\ninfrastructure or operate autonomously and offer an additional product or\nservice to scale existing operations. For\nmore information on Halitron Inc. please visit www.halitroninc.com.\n\nSales Division - Companies that have operations in a sales\nnetwork. Current...