HOLLYWOOD, FL / ACCESSWIRE / February 25, 2016 / Aluf Holdings, Inc. (PINKSHEETS: AHIX) today provided a shareholder update on the previously reported LOI to acquire software assets. On February 9, 2016, the Company entered into a non-binding Letter of Intent for the purchase of intellectual property which consists of a software program and all intellectual property rights related thereto. A definitive agreement is currently under review by corporate council. Subject to the acceptance of a definitive agreement, closing is expected to take place during the first quarter in 2016.
The copyrighted software acquisition will assist security firms, such as banks, law firms, clearing firms, and broker dealers that sell investment products to the public to comply with rules and regulations of the securities industry. It will also help reduce compliance/supervision costs while improving regulatory compliance. This cost effective software solution will also help management monitor account activities.
"This acquisition provides a service; we are not selling software that is expensive to install and maintain," stated Teresa McWilliams, CEO of Aluf Holdings. "The service fees are structured based on firm size and projected system usage. We will offer unlimited software access that will be priced on a case basis and will be determined according to the number of accounts stored and transactions processed."
Firms will pay a one-time setup fee that covers: establishing a master account, populating individual tables, mapping data files, testing data file exchange and providing system training.
About Aluf Holdings:
Aluf Holdings, Inc. (AHIX) is a holding company headquartered in Hollywood, FL, engaged in acquiring, operating and managing subsidiary companies in the development and sale of proprietary software. The goal of AHIX is to strategically acquire profitable businesses with strong growth potential and a solid business plan in the software and technology industries. For information, visit www.alufinc.com.
Safe Harbor Statement:
This release may contain "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and of Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of Aluf Holdings, Inc. and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully in its market segment, and the ability to complete some or all of the before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
Corporate Contact:
Aluf Holdings, Inc.
Teresa McWilliams, CEO
866-793-1110
Investor Relations Contact:
High Point Communication
858-381-4677
SOURCE: Aluf Holdings, Inc.