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: http://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.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
HearAtLast Holdings, Inc.