By Modupe Gbadeyanka
Halitron says it is in the final stages of a spin out and merger transaction that has been in the works for the past three months.
Two of Halitron, Inc.s wholly-owned brands are in the process of being spun out into an online social marketing / digital storage company which is currently a public company.
Shareholders of Halitron, Inc., are currently expected to receive a stock dividend of 40 shares of the new Companys common stock for every 1,000 shares of Halitron, Inc.s common stock owned, subject to review and approval by FINRA.
Halitron stated that more details regarding this transaction including final stock dividend ratio, share price, record and payable dates, the revenue model, and its new stock symbol, will be announced upon completion of the transaction.
Halitron is on target to raise the $300,000 necessary to proportionately increase sales of its four existing legacy brands to between $3 to $5 million annually.
Halitron engaged Freidman LLP to audit the books and records of Halitron in preparation for listing on the OTCQB market. The US GAAP audit is expected to be completed by the end of March 2017 followed by the filing of an annual report on Form 10-K with the SEC and the application to be listed on the OTCQB as a fully reporting company by mid-year 2017.
It looks to have a business that largely resembles a mini-Berkshire Hathaway, which has a very diverse set of subsidiary holdings.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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