NEWTOWN, Conn. - Halitron, Inc. (OTCPK: HAON) is excited to announce the acquisition of iDealFurniture, LLC., a national network of independent furniture brokers, leveraging online websites through the acquisition of web properties including www.iDealFurniture.org, www.bigticketbroker.com, www.kozyart.com, www.kozyfurniture.com, www.kozypatio.com, www.KozySofa.com, www.iDealFurniture.info, www.MemoryZzz.com, and www.perfectdreamer.com. The Company currently has setup 17 Regional Market Developers, 45 Distribution Centers and over 250 Brokers, with initial sales in 2014 totaling $800,000. "The iDealFurniture business model is very attractive in that it leverages a large and growing field force of independently owned territories with online marketing and educational tutorials. In total there are over 40 web domains that have been acquired. Larry Kozin, the Founder of iDealFurniture opened his first furniture store in 1982 and has been an innovator in the Industry for over 30 years. Larry states, "The acquisition by Halitron, Inc. will enable iDealFurniture to begin to acquire and convert the struggling Mom & Pop stores that are on the verge of closing their doors. The Company hopes that this strategy will enable iDealFurniture to become a recognizable name in the United States by the end of the decade.
iDealFurniture President, John Bellave, who heads up the national expansion department states, "The brick and mortar furniture retailers have had a very difficult period due to the economy and expensive retail setup and operations."
"Over 75% of small independent stores have closed down since 2008. While the industry sales are in the billions, according to Furniture Today, Larry and John have created a low cost business opportunity for the experienced, as well as the newbie furniture broker, by setting up the business at a low cost and allowing the entrepreneur to lever the purchasing power of many through IDealFurniture's conduit. By leveraging our existing resources on the marketing side with the buying power of a single buying agent in IDealFurniture we expect sales growth in the future," says Bernard Findley, Chief Executive Officer of Halitron, Inc.
The business model involves selling home based businesses, regional territories, and distribution centers for one revenue stream and the Company also receives a second revenue stream through a commission on the sale of product.
The company is currently completing its audit which is expected to be completed by the end of May, 2015. Halitron, Inc. acquired the business for the issuance of 20,689,655 common stock shares along with up to 5,000,000 options with a December 31st, 2015 strike price of $.052 based on achieving certain financial milestones.
About Bernard Findley
Mr. Findley is experienced in growth opportunities as well as distressed acquisitions and work-outs. He communicates with the investment community and operational teams in order to execute on strategic plans that are intended to benefit shareholders. Since 2008, he has acquired and consulted for over 16 brands that were bankrupt, distressed, and/or insolvent. Through these acquisitions, Mr. Findley gained invaluable experience with disappointed equity holders, senior lenders, unsecured vendors, and customers. While the turnaround world often comes with delivering "negative" messages, Mr. Findley has salvaged value on assets when many thought there was none. Please check out Mr. Findley's public profile on LinkedIn at https://www.linkedin.com/in/bernardfindley/.
About Halitron, Inc.
Halitron, Inc., formerly Teknik Digital Arts, Inc., engaged in the development and marketing of interactive gaming software to play on cell phones, personal computers, and game consoles. Over the coming weeks the Company will announce a new mission statement and outline its strategic plan which involves acquiring related sales & marketing as well as manufacturing businesses and rolling them into one very efficient and low cost operating infrastructure.
Source: Halitron, Inc.
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