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FT. LAUDERDALE, Fla., Oct. 27, 2022 (GLOBE NEWSWIRE) — Aluf Holdings, Inc. (“AHIX”) (“Aluf”) (OTC PINK: AHIX) is a holding firm engaged in buying, working, and managing subsidiary firms within the growth and sale of proprietary software program, and expertise options, at this time introduced the execution of a non-binding Letter of Intent to purchase BizzUniverse SM, a privately held technology-based firm.
The LOI types the idea of an settlement which, if consummated, is per the Company`s strategic plan to aggressively obtain profitability and development by insightful value-added mergers and acquisitions. There are a number of steps outlined within the LOI, and after completion of passable due diligence, a definitive settlement will probably be executed. Subject to the acceptance of the definitive settlement, closing is anticipated to happen on or earlier than January 31, 2023. The Terms of the Letter of Intent ponder complete consideration for this transaction within the quantity of $7.5M which incorporates issuance of restricted widespread inventory and short-term vendor financing within the type of an unsecured promissory notice. No additional info is out there presently.
Transaction Highlights:
The founders and administration crew have deep area experience and expertise in software program growth, gross sales, web, and conventional advertising (domestically and internationally), moreover possessing a robust self-discipline in each monetary and operational administration. The Company is anticipated to be working in a money circulate constructive place by Q2 2023, with projected yr over yr development anticipated to end in a valuation of over $25M by the top of yr three.
About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded holding firm headquartered in Ft. Lauderdale, FL, engaged in buying, working, and managing subsidiary firms within the growth and sale of proprietary software program. Our key technique is to construct a bigger and extra various firm by strategic and managed acquisitions and development. Our core focus consists of biometrics, software program and {hardware} verticals. For extra info go to www.aluf.com.
About BizzUniverse, Inc.:
BizzUniverse SM, is a expertise firm empowering people, entrepreneurs, business house owners, group organizations, and different teams by its technology-based networking and business growth platform designed to allow members to obtain their objectives and understand greater ranges of success. For extra info go to https://www.bizzuniverse.com.
Safe Harbor Statement:
This launch consists of “forward-looking statements” inside the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 which can be primarily based upon assumptions that sooner or later might show not to have been correct and are topic to vital dangers and uncertainties, together with statements as to the long run efficiency of the corporate and the dangers and uncertainties detailed from time to time in reviews filed by the corporate with the Securities and Exchange Commission. Statements contained on this launch that aren’t historic information could also be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently unsure. Although the corporate believes that the expectations mirrored in its forward-looking statements are affordable, it can provide no assurance that such expectations or any of its forward-looking statements will show to be right. Factors that would trigger outcomes to differ embrace, however are usually not restricted to, the corporate’s capacity to increase essential financing, retention of key personnel, well timed supply of stock from the corporate’s suppliers, well timed product growth, product acceptance, and the affect of aggressive providers and merchandise, as well as to normal financial dangers and uncertainties.
Corporate Contact:
Aluf Holdings, Inc.
Teresa McWilliams, Chief Financial Officer
866-793-1110
