HAON - 2's going on news ... Halitron, Inc.s Hopp Companies Lands 425+ Store Retail AccountFont size: A | A | A
6:00 AM ET 4/25/18 | GlobeNewswire
Halitron, Inc.'s Hopp Companies Lands 425+ Store Retail Account
Forecasting Year-Over-Year Sales Growth and Cost Reductions Through Improved Operating Efficiencies
NEWTOWN, CT, April 25, 2018 (GLOBE NEWSWIRE) -- Halitron, Inc. (the "Company," "Halitron") (OTC: HAON), a multisector holding company, is pleased to announce that its portfolio company, Hopp Companies, Inc., recently won a project with a major national retailer with over 425 retail stores.
Management is forecasting that the new project, which has already begun to ship, will have a projected positive impact on sales and gross margins for the fiscal year 2018. The product is a new supply product line for retail shelving that is internally manufactured. We are anticipating receiving reorders throughout the year. Due to the competitive nature of the industry, Management has elected to keep the account name and any product line descriptions confidential, but can report that to most families, its new retail account is a household name.
Additional Shareholder Updates:
-- Product Line Expansion. With the Xerox C75 Digital Press and the purchase and installation of the Ryobi 2 Color Press, Management is in the process of preparing to launch its marketing campaign whereby the team will begin cross-selling both printed and plastic point of purchase supplies to Hopp's 7,000 customer contacts and, in turn, the 130,000+ printed point of purchase customer contacts. The output of both machines has the capacity to produce millions of dollars in sales while leveraging the low-cost infrastructure that has been created to process the orders. Management is estimating a third quarter launch of these cross-selling opportunities.
-- The Hopp Company Integration. Management is reconfirming that it will be exiting the New York facility by May 1, 2018; eight months early from the contracted lease obligation which was originally scheduled for December 31, 2018. The projected cost savings has become greater than anticipated. These projected savings should improve cash flows which will be allocated towards the Company's stock buyback program, and growth initiatives throughout the business including accounting, sales, and marketing functions.
-- Audit and Up List to OTCQB. Halitron has re-engaged Freidman LLP to complete the 2017 audit, which is one of the qualifying factors to up list to the OTCQB exchange. Friedman was previously engaged to provide audit work for the period ending September 30, 2016 and will continue to finalize the project through September 30, 2017 over the coming months. Management will be adding another accounting intern to help support the growing business as well as focus on completing the audit for the period ending September 30, 2017.
-- Share Buy Back. Another requirement for the up list is a share price of $0.01 or higher and the Company, as previously announced, is currently engaged in a share buyback program to help support increased share price. Management is forecasting increased purchases quarter-over-quarter based on projected increasing cash flows, as the New York facility is closed, and the Company reaps the benefits of reduced overhead. Forecasted increasing sales from the new product launch and cross-selling initiatives will also have a positive impact on this project.
-- Tijuana, Mexico Manufacturing Facility. Since 2015, Management outlined a two-location footprint for the acquisition roll-up business model, whereby the target businesses would be acquired and then utilize the existing infrastructure. Management has targeted a 5,000 square foot facility and is arranging for the purchase of a broad range of manufacturing equipment and legally organizing a Mexican corporation to effect business. With the recent focus on the initiatives above, Management is forecasting for an early 2019 startup of this business initiative.
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.
Halitron is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron is not registered with FINRA or SIPC.
Twitter:
@HAON_official
@HOPPCOMPANIES
Facebook:
@haon.inc
@Hopp Companies, Inc.
Instagram:
@haon.official
@hoppcompanies.inc
LinkedIn:
@haon-official
@hopp-companies
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. Halitron, Inc is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron, Inc. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron, Inc. is not registered with FINRA or SIPC.
Contact:
Halitron Investor Relations
3 Simms Lane, Suite 2F, Newtown, CT 06470
1-877-710-9873
www.halitroninc.com
info@halitroninc.com
> Dow Jones Newswires
April 25, 2018 06:00 ET (10:00 GMT)
AI
