HaloSource Corporation Trading Update

Clean water innovator Halosource Corporation (AIM:HALO, AIM:HAL)  today provides the following trading update.

Further to the Company's RNS dated 21 August 2018, the Directors believe that, given intervening trading, the Company continues to have sufficient working capital until around the end of 2018. HaloSource has met its recently stated objectives, namely the launch of its online astreaTM ONE bottle and filter replacement subscription service, selling product at its first nationwide retail customer (Sur La Table) in the US, and receipt of NSF 53 certification for its product as the first and only bottle in the world certified to remove lead from drinking water.  For the year ended 31 December 2018, the Directors expect revenues in the range of US$2.0 million to US$2.5 million, and a net loss of US$7.0 million to US$7.5 million.

As announced on 21 August 2018, the Directors are continuing to explore means of raising additional capital.  On the basis that a further $4 million to $5 million is raised, the Directors believe that the Company will have sufficient working capital for the twelve months following the fundraising to fund its current business plan.  This plan targets revenues and net income (loss) for the years 2019 and 2020 in the following ranges:

(US$ millions)




$7.0 - $8.0

$14.0 - $16.0

Net Income (loss)

($4.4) - ($4.0)

$(0.6) - $0.2


Based upon the midpoint of the 2020 revenue range, above, the Company expects to become cash flow positive in the first half of that year.


HaloSource Corporation


James Thompson, Chief Executive Officer

(425) 419-2258

Craig Crowell, Chief Financial Officer

(425) 419-2248


WH Ireland Limited (NOMAD and Broker)


Tim Feather / Chris Viggor

+44 (0) 20 7220 1666