Brite-Strike Tactical Illumination Products Inc., a designer and manufacturer of tactical self-defense devices including LED flashlights, is now publicly traded on the Pink Sheets under the symbol “BSTI”.
The company began Pink Sheet trading on August 6th with 20 million shares outstanding after completing a reverse merger with Global One Holdings, an inactive Miami company. Company officials did not discuss the terms of the merger, but said the information would be presented at the company’s first public filing, scheduled for mid-November. The stock closed Wednesday at 52 cents a share and opened this morning at 60 cents.
The company’s Tactical Blue Dot series is specially designed for patrol officers and features a tri-sided barrel design for a more ergonomic grip as well as front and rear tri-strike-crowns for maximum impact when using the device for pressure point and weapon retention techniques. The Protector series provides consumers with tactical LED flashlights using the latest Luxeon LED technology, which is far superior to older LED technology. The Lightning Strike, designed for women and seniors, delivers an 85-lumen beam powerful enough to disorient an attacker and a 100-decibel alarm as well. Retailers currently offering Brite-Strike’s products include BJ’s Wholesale Club, Lowes .com, Herrington Catalog, and Frontgate. Walmart, Costco Wholesale, and Dick’s Sporting Goods are expected to offer the products by the end of this year. Brite-Strike’s management, which has more than 28 years experience in law enforcement, anticipates expanding overseas as well.
John Lennon, vice president of finance with Brite-Strike, noted that the company is aiming for an initial capitalization of about $1 million. Current capitalization (between $350,000 and $400,000) is anticipated to almost double in the next 60 days.
According to Lennon, the company chose to go public via the reverse merger rather than an IPO to reduce costs and shorten the time frame. “You get definitive capital,” Lennon noted. “You don’t have to outlay a bunch of money on legal fees and have something that doesn’t happen.”
The capitalization will be used to build inventory and brand the products at trade shows, and will also enable expansion. The company’s current headquarters, in Kingston, Massachusetts, occupies 2,000 square feet. According to Lennon, Brite-Strike also plans to apply for trading privileges on the OTC by the end of next month, which would put Brite-Strike in line to raise additional capital for further expansion, branding and sales efforts to position the company as an international leader in tactical self-defense devices.
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