HOLLYWOOD, FL / ACCESSWIRE / February 8, 2016 / Aluf Holdings, Inc. (PINKSHEETS: AHIX) today announced an update to investors and shareholders. The company is due to close on the previously announced Joint Venture Agreement with Vanderbilt Bonds shortly, enabling the acquisition of Triad Biometrics IP assets. Upon closing, the Biometric IP assets will be transferred into its new operating entity, Aluf Biometrics, Inc.
Teresa McWilliams, CEO of Aluf Holdings stated, "Although the official offering date for the acquisition funding was pushed back a couple of weeks, we are still on target for receiving the funds and closing on the Triad acquisition. In the meantime, we are entertaining a number of term sheets for additional working capital. We are being selective in our decision which will, of course, be based on what's best for the company and its shareholders."
The company is also ahead of schedule in regards to the filing of its annual report. Ms. McWilliams also commented, "The deadline for the filing is March 15th, but we are working hard to get it out before February 15th while we await acquisition funding to take place. This is indeed a very exciting time for Aluf Holdings, and we are confident that our loyal shareholders will be rewarded for our efforts."
About Triad Biometrics, LLC:
Triad Biometrics, LLC, developed TEAMS(R), a groundbreaking enterprise level fingerprint biometric identification and authentication product that is setting a new paradigm for security, interoperability, and accountability. TEAMS(R) represents the next-generation in securely accessing web based applications. By enabling the elimination of passwords and password fields, data security, end user experience, and productivity are significantly improved while authentication-related maintenance and operating costs are reduced. User frustration and risk associated with finding, remembering, and storing passwords is eliminated. Unlike other commercial biometric systems, TEAMS(R) is an autonomous authentication method with no reliance on directory or other password-based systems, and once implemented, cannot be hacked, cracked, or circumvented. TEAMS(R) utilizes military-grade FIPS-140 Suite B cryptography in concert with several unique patented and pending features which enable a never-before-obtained level of identity confidence, privacy protection, and data security over un-trusted networks, such as the public internet. Visit: www.triadbiometrics.com.
About Vanderbilt Bonds:
Vanderbilt Bonds employs a closed end fund strategy that caters to high net worth/accredited investors and institutional clients. Approximately 80% of sales come from banks, pension funds, trust funds and mutual funds. Hedge funds have the advantage of making money in any type of economy by keeping their operating costs static while enjoying unlimited revenue in an up or down market. Vanderbilt Bonds will return 9% by investing in corporate bonds and sovereign debt along with a call/put strategy.
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.
Aluf Holdings, Inc.
Teresa McWilliams, CEO
Investor Relations Contact:
High Point Communication, Inc.
SOURCE: Aluf Holdings, Inc.