Halitron, Inc. (OTC PINK: HAON), an equity holding company implementing a roll-up of sales, marketing, and manufacturing businesses, today is excited to announce the finalizing of terms for funding its 2016 growth plan.
Halitron is well positioned for sales and profit growth in 2016. Its cash conversion cycle has been tested and proven but the critical part to the 2016 growth plan was closing on working capital. Management is pleased to announce the finalized plans for funding on a $300,000 debt financing in the form of a 3-year secured note payable at 6% interest.
"We have worked diligently for a year and half to position the business for sales and profit growth," comments Bernard Findley, Halitron's Chief Executive Officer. "The $300,000 in capital is expected to be deployed in a manner to accelerate sales and jump-start the factory to deliver goods in a timely manner. We intend to also re-focus on digital marketing, outbound calling, and evaluate new strategic markets where we could create additional sales. We are now forecasting sales to grow from $1.2 million in 2015 to $3 - $5 million in sales over the next 12 months as we commence our growth plan towards our $60M in sales acquisition pipeline working closely with new and larger financial partners to help support the evaluation, due diligence, and potential closing process."
The financing is not convertible or "toxic" in any way. The funding will be released in three separate tranches as milestones are met on future set dates during the third quarter of 2016. Halitron needs shareholder open market stock purchasing support with minimum thresholds of average closing share price of $.01 on July 15th, $.02 on August 15th, and $.03 on September 15th to receive debt financing.
Mr. Findley states, "We are very excited to close on our debt financing at such modest rates for operating on the OTC Markets Pink Sheets. There are many options for toxic/convertible financing but we did everything management thought possible to avoid those financial structures. We plan to evaluate alternate sources of funding as a backup plan to this non-toxic debt structure in case the milestones are not achieved and in either case close on capital throughout the third quarter of 2016, which is imperative for increasing shareholder value."
About Halitron, Inc.
Halitron, Inc., an equity holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. The Company is structured with two Strategic Business Units; Sales & Marketing Division and a Manufacturing Division. Management targets operating entities that can either benefit from current operating infrastructure or operate autonomously and offer an additional product or service to scale existing operations. For more information on Halitron, Inc., please visit: www.halitroninc.com.
