Business
Aluf Holdings, Inc. Announces Elimination of Convertible Debt and Accounts Payable by Over $750k
Aluf Holdings, Inc. Announces Elimination of Convertible Debt and Accounts Payable by Over $750k.
About this update from Aluf Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAluf Holdings, Inc. Announces Elimination of Convertible Debt and Accounts Payable by Over $750k\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. Announces Elimination of Convertible Debt and Accounts Payable by Over $750k\nPR Newswire\nHOLLYWOOD, Fla., May 12, 2021\n\n\n\nHOLLYWOOD, Fla., May 12, 2021 /PRNewswire/ -- Aluf Holdings, Inc. (\"AHIX\") (\"the Company\") (OTC PINK: AHIX) announced major milestone in strengthening its financial position by reducing Convertible Notes Payable and Accounts Payable by a total of $751,908 as of March 31, 2021. Of that, Accounts Payable was decreased by $173,685; while Convertible Notes Payable was decreased by $578,223, of which $362,723 was settled in full (not converted).\n\"In an effort to position Aluf Holdings for execution of our acquisition strategy, we took great care in eliminating debt from our balance sheet with minimal impact to shareholders. We were able to settle a majority of convertible debt without conversion, deceasing potential dilution significantly. While most OTC companies fall prey to toxic noteholders, our debt partners are taking part in our future growth,\" says Teresa McWilliams CFO of Aluf Holdings. \"We plan on making updates on our acquisition strategy and progress to date in the near future.\"\nAluf Holdings, Inc. (AHIX) is a holding company headquartered in Fort Lauderdale, FL, engaged in acquiring, operating, and managing subsidiary companies in the development and sale of proprietary software. The Company's strategy is to build a large portfolio of companies with more diverse enterprise software solutions through strategic acquisitions and managed growth as it acquires profitable businesses with strong growth potential and a solid business plan. Our technology acquisitions stem from a surge in momentum in the tech space; especially in areas of biometrics and cyber security, cloud-based software services (SaaS), medical applications, energy production, IoE (Internet of Everything) services, and global law enforcement and military-based offensive and defensive applicat...