below is the $HRAL PR from Thursday for those who have not seen it yet:
Press Release: HearAtLast Holdings Acquires 100% of Fast Growing Canadian Start-up Crystal Clear Audio
9:06 AM ET 9/5/19 | Dow Jones
HearAtLast Holdings Acquires 100% of Fast Growing Canadian Start-up Crystal Clear Audio
LAS VEGAS, NV, Sept. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- HearAtLast Holdings, Inc. (OTC:HRAL), a holding company currently involved in restructuring and expanding its business model, revenue and asset base, is pleased to announce that the Company has signed an agreement for the acquisition of a 100% interest in Crystal Clear Audio, Inc.
Crystal Clear will merge into HearAtLast Holdings as its wholly owned subsidiary in an all-stock transaction. The acquisition is part of a tax-free share for share exchange which will see HearAtLast Holdings issuing 25,000,000 restricted common shares on closing and an additional 5,400,000 restricted shares upon meeting the following milestones:
-- 1,200,000 Shares upon Crystal Clear Audio reaching $1,500,000 in gross
sales;
-- an additional 1,200,000 Shares upon Crystal Clear Audio reaching
$2,500,000 in gross sales;
-- an additional 1,000,000 Shares upon Crystal Clear Audio reaching
$5,000,000 in cumulative gross sales with $700,000 in pre-tax earnings;
-- an additional 1,000,000 Shares upon Crystal Clear Audio reaching
$8,500,000 in cumulative gross sales with $1,500,000 in pre-tax earnings;
-- an additional 1,000,000 Shares upon Crystal Clear Audio reaching
$15,000,000 in cumulative gross sales with $3,000,000 in pre-tax earnings
Based on Crystal Clear's business model and initiatives, management expects the majority of these milestones will be reached. In compliance with the Exchange Act, the shares will be issued as restricted shares and will contain substantial resale restrictions.
"We are very confident in the founders of the company. Outside of the many years of the research and development they have built a sustainable, scalable business with valuable intellectual property. HearAtLast can help take it to the next level. With their product and an injection of our funding we believe that we can increase their revenue within the first 18 months," stated Aldo Rotondi, CEO.
ABOUT CRSYTAL CLEAR
Crystal Clear Audio is a leader in audio products specializing in headphones with customized audio, bringing professional level, clear and powerful sound specifically tailored to the consumer. The Team at Crystal Clear Audio brings in over a decade of auditory research which has led to the patented NC Audio Technology.
"Anyone can bring music to your ears, but only Crystal Clear products delivers music from your ears to your brain producing an exceptional and high quality sound". Crystal Clear is constantly moving forward in research and development of bigger and better sound.
Psycho-acoustic techniques designed within our proprietary audio technologies deliver bigger sound at lower volumes making our headphone products inherently safer for hearing.
For more information please visit: www.crystalclearaudio.ca
ABOUT HEARATLAST HOLDINGS INC.
HearAtLast Holdings Inc. (OTC Pink: HRAL) is a company motivated in expanding its asset & revenue base for the purpose of increasing shareholder value by diversifying as a multi-faceted Company. To accomplish this, HearAtLast seeks to acquire ownership in developing Companies. Currently HearAtLast operates as a hearing aid & services company and is in the process of restructuring and adding to its business model. Stay tuned for exciting information about HearAtLast Holdings.
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