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HAON 0.0003 Halitron, Inc. Announces Stock Buyback Program
Board Approves Stock Buyback in the Open Market up to $0.01 per share
NEWTOWN, CT--(Marketwired - Oct 30, 2017) - Halitron, Inc. (the "Company," "Halitron") (OTC: HAON), a multisector holding company, today announced that the Board has approved a stock buyback of Halitron's common shares in the open market up to a stock price of $0.01.
Management and the Board agree that since the acquisition of The Hopp Companies, Inc, which is a profitable company projecting positive cash flows from operations, these initiatives should allow Management to be able to deploy cash flow in a manner to increase shareholder value by engaging in a stock buyback program to place shares back into treasury.
Previously, Management had announced the efforts to complete an audit to up list to the OTC Markets QB level. To complete the OTC QB application, the following must be achieved:
Step 1: Determine Eligibility
Audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor. (Regulation A Companies are exempt from the initial requirement).
Be Alternative Reporting.
Have a minimum bid price of $0.01 as of the close of business for each of the last 30 calendar days.
May not be subject to bankruptcy or reorganization proceedings.
Must have an SEC registered Transfer Agent.
Meet Corporate Governance Standards: a) Have a board of directors that includes at least two Independent Directors; and b) Have an Audit Committee, a majority of the members of which are Independent Directors on board independence (Alternative Reporting only).
Step 2: Submit OTCQB Application Materials along with an application Fee ($2,500).
Step 3: Upload Documents through http://www.otcmarkets.com/services/companies/otcqb/apply
Alternative Reporting Companies: Disclosure must be posted through www.OTCIQ.com for the prior two years pursuant to the OTCQB Standards along with Verified Company Profile and CEO/CFO Certification document.
Step 4: Submit the Annual Fee ($10,000).
Step 5: Begin Trading on OTCQB.
After reviewing the guideline issued by OTC Markets on an Alternate Reporting Pink to up list to the QB, Management feels that following the guidelines rather than filing an expensive Super Form 10-K or Form 10 with the SEC, will be more efficient and less time consuming. Management is hoping to complete all of these requirements by the end the first quarter of 2018.
About Halitron, Inc.
Halitron, Inc., a multisector holding company, is focused on acquiring sales, marketing, and manufacturing businesses, and then rolling them into an efficient, low-cost operating infrastructure. 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. EQLB Last shot energy drink in 7-Eleven stores! EQLB EQ Labs, Inc. (Pink Sheets: EQLB) announced today that their FYE2016 Financial Statements and YTD Third Quarter (3rd QTR.) 2017 Financial Statements with Disclosures has been uploaded to the OTC. President and CEO Maurice Owens stated, "We are proud to announce a 1900% increase in sales during the third quarter over the same quarter in FYE2016." EQ Labs has increased their production this fiscal year to meet the current demand and future growth projections into the West Coast Regional Market. https://ih.advfn.com/p.php?pid=nmona&article=76009271