NEWTOWN, CT, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Improves Security Position by Booking Long-term Debt Instead of Equity. 

Halitron,Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to announce the successful negotiations to modify an existing agreement to reflect the following impact on Halitron’s financial books and records.

Halitron has returned 56 million restricted common shares and 80 million Life’s Time Capsule Services, Inc.’s (“LTCP”) Preferred Stock C shares to LTCP in exchange for the receipt of a note payable for $3 million, bearing interest of 4%, which matures in July 2020. 

In the transaction, the assets sold to LTCP in the original transaction will revert to a Halitron asset on its balance sheet.  In 2020, upon receipt of the $3 million principal and interest along with Halitron’s Board of Directors’ approval, Management will submit corporation action paperwork to FINRA for the issuance of a cash dividend to its shareholders, of which record, and payment dates will be announced post receipts of the settlement of the note payable for $3 million.

Other Updates:

  • The audit work is under way and is expected to complete in the first half of 2018 with the objective to uplist to the OTC QB.
  • Halitron has begun to buy back shares in the open market according to the “black-out” periods disclosed in its filing to OTC Markets with the objective to increase its share price to $0.01 per share.  The $0.01 share price is one of the requirements by OTC markets to uplist to the OTC QB.  The number of shares and price paid will be listed in its quarterly filings.
  • The acquisition of the Hopp Companies, Inc.’s assets, and the subsequent transition to Halitron’s infrastructure, has been very successful to date.  Over the past week, half of the production equipment has been relocated to Newtown, CT and will be set up and tested for full production over the coming weeks.  Management is forecasting to exit the 5,000-square foot facility in New Hyde Park, NY by the end of March 2018, upon which time Halitron’s operating expenses should decrease dramatically.
  • Management is now drafting the strategic plan to utilize previously acquired assets, specifically the two brands, PiecesInPlaces and CinchSigns, within Halitron’s infrastructure.
  • Management is continually seeking acquisition opportunities and has recently received communication on an excellent strategic acquisition that would complement its current operating business.  More information will be released as we enter due diligence on the target company.

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.

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