Business
Halitron, Inc. Plans to Complete Merger and Issue Shareholder Dividend
Halitron, Inc. Plans to Complete Merger and Issue Shareholder Dividend.
About this update from Halitron Inc
[{"type":"text","content":"\n \n \n Halitron, Inc. Plans to Complete Merger and Issue Shareholder Dividend\n \n \nHalitron, Inc. Plans to Complete Merger and Issue Shareholder Dividend\n \n NEWTOWN, CT--(Marketwired - Feb 27, 2017) - Halitron, Inc. (the \"Company,\" \"Halitron\") (OTC PINK: HAON), a holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today announced that it is in the final stage of a spin out and merger transaction that has been in the works for the past three months.\n Two of Halitron, Inc.'s wholly-owned brands which have over 300,000 consumers on their customer lists are in the ever-growing scrapbooking marketplace. These two brands are in the process of being spun out into an online social marketing/digital storage company which is currently a public company. The Company anticipates that the acquiring company's platform may be able to fill the gap as a cross between Facebook, Inc. in social marketing, and Ancestry.com in researching public records. \n In exchange, shareholders of Halitron, Inc. (OTC PINK: HAON) are currently expected to receive a stock dividend of 40 shares of the digital scrapbooking company's common stock for every 1,000 shares of Halitron, Inc. common stock owned, subject to review and approval by the Financial Industry Regulatory Authority (FINRA). \n More details regarding this transaction including final stock dividend ratio, share price, record and payable dates, the revenue model, and its new stock symbol, will be announced upon completion of the transaction.\n Throughout 2016, Halitron acquired four legacy brands:\n www.CinchSigns.com\n www.PiecesInPlaces.com\n www.ArchivalPhotoPages.com\n www.ArchivalMuseumSupplies.com.\n The primary assets acquired were the brands, and associated customer lists, Web sites, and creative artwork. The brands have been operating on idle through the second half of the year contemplating a capital infusion to implement the Company's growth plans with regard to those brands. \n Halitron is on target to raise the $300,000 necessary to proportionately increase sales of its four existing legacy brands to between $3 to $5 million annually. \n Halitron engaged Freidman LLP to audit the books and records of Halitron in preparation for listing on the OTCQB market. The US GAAP audit is expected to be completed by the end of March 2017 followed by the ...