NEWTOWN, CT, January 23, 2019 (OTC Markets) – Halitron, Inc. (the “Company,”
“Halitron”) (OTC Pink: HAON), a multisector holding company, is pleased to announce its top
line sales results (unaudited) for the fourth quarter and yearend, 2018.
Revenue came in at of $397,894 for the quarter and $1.62 million for the twelve months ended
December 31, 2018.
The previous shareholder update summarized working capital and how Management was working
to improve this key ratio. Recently, Management has begun to reduce costs, specifically payroll
expense, to further support improving working capital. For the nine months ending September
30th, 2018, Halitron’s portfolio company Hopp Companies, Inc.’s payroll expense was $628K or
54% of total expenses ($628K/$1,153K). Management reduced headcount by 8
employees/consultants out of a total of 16 through a lay-off. The functions impacted included the
factory, warehouse, sales, operations, and business development.
While the lay-off was enacted to improve working capital, there may be an impact on top line sales
for 2019. Management developed a business plan for 2019 which included a few scenarios based
on Management’s ability to raise growth capital. There was an aggressive forecasted sales increase
model of $4M for 2019 provided Management achieved its capital raise goal, which we have not
as of the date of this update. We then developed a modest growth plan still requiring a small
capital raise, which has not been completed. More recently, we modified the 2019 business plan
to attempt to be self-funding without raising outside capital. Management will evaluate business
operations over the next three months and adjust as needed.
Management will continue to evaluate, slowly develop, and test market products in high growth
areas but does not anticipate any material decision, announcement, nor decide on a strategic
direction for these products until the end of April 2019.
Other topics outlined on the shareholder update published on OTC Markets dated December 28th
,
2018, accurately reflect the Company’s position and there are no material changes to the
commentary which includes topics on a stock buyback, reverse split, audit, and litigation.
About Halitron, Inc.
Halitron, Inc. is focused on acquiring sales, marketing, and manufacturing businesses to roll into
efficient, low-cost operating infrastructures. Management targets operating entities that can benefit
