Business
AHIX Negotiates Debt to Equity Conversions
AHIX Negotiates Debt to Equity Conversions.
About this update from Aluf Holdings, Inc.
[{"type":"text","content":"Cutting Debt on Balance Sheet by Over $1.7MHOLLYWOOD, FL / ACCESSWIRE / July 5, 2018 / Aluf Holdings, Inc. (\"AHIX\") (\"the Company\") (OTC PINK: AHIX) announced today it has reached agreements with holders of more than $1.7 Million of its debt to exchange their obligations for shares of the Company's Series B convertible preferred stock and/or restricted common stock.\"We have completed nearly $1 Million of the exchanges during the quarter ended June 30, 2018 and will complete the remaining exchange of debt for shares during the current quarter. This reduction of debt and increase in equity will be reflected in our second and third quarter financials and company disclosures,\" states Teresa McWilliams, CFO of AHIX. \"This plan to reduce debt and interest expense will increase shareholders' equity, demonstrate the confidence of our debt holders in our current business plan, and meets a requirement to reduce debt by M&A funding groups\" allowing us to move forward with our current acquisitions, concluded Glenn W. Milligan, President & CEO. About Aluf Holdings, Inc. (AHIX): Aluf Holdings, Inc. (OTC PINK: AHIX) is a holding company whose primary focus is the identification, acquisition, management, and aggressive growth of companies in the burgeoning biometrics vertical.AHIX's merger and acquisition model targets unique biometrics enterprises with key common attributes and parameters. These include stellar management, a broad proprietary product and service offering, dedicated research and development, robust margins, high-growth potential, economies of scale, and low barriers to rapid, efficient integration of operations, especially sales, marketing, and customer service. As it expands, AHIX's overall portfolio of products and services will include secure, scalable, digital cyber security solutions for hyper-positive human identification, access management, feasibility studies, customized communications and automation analysis, bespoke software development, and other advanced technologies for facial, voice, fingerprint, finger vein, retinal scan, and recurrent still frame and video comparison verification. For more information visit www.alufinc.com.Safe Harbor Statement:This release includes \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 2...