Business
Aluf Holdings, Inc. And COLOTRAQ Agree To Unwinding Acquisition
Aluf Holdings, Inc. And COLOTRAQ Agree To Unwinding Acquisition.
About this update from Aluf Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAluf Holdings, Inc. And COLOTRAQ Agree To Unwinding Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAluf Holdings, Inc. And COLOTRAQ Agree To Unwinding Acquisition\nPR Newswire\nHOLLYWOOD, Fla., April 24, 2020\n\n\n\nHOLLYWOOD, Fla., April 24, 2020 /PRNewswire/ -- Aluf Holdings, Inc. (\"AHIX\") (\"the Company\") (OTC PINK: AHIX) today announced plans to unwind its acquisition of Interaqt Corporation (\"COLOTRAQ\").\n\n \n \n \n \n \n \n\n \n\"The Covid-19 crisis has negatively impacted Aluf's ability to raise the necessary capital to fund the COLOTRAQ acquisition and, as a result, we have agreed mutually to unwind the transaction at this time,\" says Don Bennett, Chairman of the Board of Directors of Aluf.\nDany Bouchedid, Founder & CEO of COLOTRAQ, added: \"With the stock market volatility and the impending recession due to the Covid-19 pandemic, being a part of a publicly traded micro-cap stock was not in our best interest so taking COLOTRAQ back as a privately-held business was the absolute best move for us at this time.\"\nMr. Bouchedid will also be resigning from his position as Aluf's CEO and the Board of Directors. \"With the current economic climate, I need to dedicate 100% of my time and energy on COLOTRAQ,\" added Mr. Bouchedid.\nAbout Aluf Holdings, Inc.:Aluf Holdings, Inc. is a publicly traded holding company whose core competency is to acquire, manage and propel \"Next-Gen\" technology companies into the future. Our core focus is the Biometric, Cybersecurity, Blockchain, and Software/Hardware verticals. \nSafe 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 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with th...