Halitron (OTCMKTS:HAON) was a big mover in Monday’s trading session after announcing a buyback program of its common shares. Shares of the company gained 500% on the news to end the day at $0.0006 a share.
Stock Buyback Program
The stock has been trading in a downtrend prior to the announcement but the announcement seems to have triggered renewed investor interest. It awaits to be seen if the momentum experienced in Monday’s trading session is strong enough to continue.
The buyback program is part of an effort that seeks to increase shareholder value. According to the management, the acquisition of the profitable Hopp Companies has brought the positive cash flows needed to finance the buyback.
Hopp Company is a leading manufacturer of quality Point of Purchase displays, commonly used for in-store marketing merchandising, pricing, and sales ads. Halitron Inc. acquired the company in an asset purchase agreement valued at $700,000.
Halitron (OTCMKTS:HAON) plans to utilize Hopp assets in the operations of its two legacy brands – CinchSigns, a printed point of purchase business, and PiecesInPlace, specializing in office organization supply business. The two brands have been in development over the past two years with a combined customer list of 190,675.
OTC Markets Listing Push
Separately, Halitron (OTCMKTS:HAON) is currently carrying out an audit of its operations, with a view of up-listing in the OTC Markets QB level. For a successful application, the company will have to present audited financial results in accordance with U.S GAAP. It will also have to maintain a minimum bid price of $0.01 a share, for at least 30 calendar days.
Halitron bills itself as a diversified holding company focused on acquiring sales, marketing, and manufacturing businesses. Upon completion of an ongoing auditing process, the company plans to implement a strategy focused on broadening the current portfolio through the acquisition of high growth and high margin companies.
Halitron (OTCMKTS:HAON) has already assembled a group of highly successful professionals to explore strategic acquisitions and operations in high growth sectors. The team is currently analyzing opportunities in various sectors.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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