Business
Halitron, Inc. Reports $724,000 in sales for FY 2017 and $407,000 in Q4 2017 Alone
Halitron, Inc. Reports $724,000 in sales for FY 2017 and $407,000 in Q4 2017 Alone.
About this update from Halitron Inc
[{"type":"text","content":"\n\n Significant increase in revenue due to the acquisition of The Hopp Company Assets on August 18, 2017\n NEWTOWN, CT, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Halitron, Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to announce the financial results for the quarter ending December 31, 2017. Below are a list of financial and operational updates: Sales have increased to approximately $407K in Q4, 2017, which represents 150% over approximately $163K for Q3 3017.  There were no sales for 2016 to compare, as the strategic acquisition is now the foundation for the team to build on.Direct Gross Margins for the portfolio manufacturing company were 65.6% for the quarter.Management has successfully relocated Hopp assets to the low-cost Connecticut facility and began shipping orders without any delays.  Management anticipates exiting the Long Island facility over the coming months which will further reduce overhead costs and increase margins.Management has recruited and hired numerous employees to help support the 2018 growth plan including: sales, digital marketing, finance, and accounting.New products and promotions have been launched and the business has already received positive feedback on these efforts through increased communication with its customers and additional orders.Management has begun to and is committed to acquiring additional shares back in the open market to help support an increase in share price, of up to $0.01 per share.  This is done in an effort to meet one of the qualifying factors of an up-list to the OTCQB. A US GAAP audit, another qualifying factor for the uplist to the OTCQB will commence quickly as the relocation of the HOPP assets is now nearly complete.  Management will provide an update over the coming weeks on a more precise timeline on its completion. Growth and shareholder valuation has always been Halitron’s priority.  We are excited to see the prior two years of hard work come to fruition.  Halitron has been looking into other acquisition targets in many growth sectors as a further investment for our shareholders, but in order to differentiate ourselves from the masses, we will only enter into a transaction with a company that has an already established foothold in a specific growth space. About Halitr...