HOLLYWOOD, Fla., Jan. 13, 2020 /PRNewswire/ -- Aluf Holdings, Inc. (OTC PINK: AHIX) ("AHIX" or "the Company") today announced that despite delays in acquisition financing, 2019 was a transformational year. During 2019 the Company made major changes in its strategy, portfolio, leadership, and BOD and achieved major milestones in strategic growth by identifying additional acquisition targets.
Following is a review of Aluf's 2019 accomplishments and achievements along with the vision for 2020 and beyond.
- Kicked off 2019 with a new Board of Directors comprised of thought leaders in technology market segments that complement Aluf's acquisition strategy.
- Expanded our strategic vision to include various "Next Gen" technologies and broadened our scope beyond Biometrics and Hardware/Software to include Blockchain, Cybersecurity, Cloud Computing, AI, and Computer Vision.
- Redesigned and unveiled a dynamic website which accurately reflects our strategic vision.
- Acquired COLOTRAQ, the first and largest broker and master agency specializing in data center infrastructure solutions.
- Launched Aluf CBD Partners LLC to fulfill the growing client need in the CBD marketplace.
- Appointed COLOTRAQ'S founder and CEO, Dany Bouchedid, President/Chief Executive Officer of Aluf.
- Appointed Broadridge Corporate Issuer Solutions, Inc., as Aluf's transfer agent and registrar its common stock.
- Announced the execution of non-binding Letters of Intent to acquire two additional privately held next gen technology companies. This puts the Company at a total of four acquisitions, including existing CSPA to acquire a profitable biometric company, along with the acquisition of COLOTRAQ in April.
The next several months promise remarkable results as we take the company from no revenue at the beginning of 2019 to sustainable growth and profitability, including:
- Finalize the capital raise for traditional M&A debt financing and Private Placement to close or consummate various acquisitions
- Provide additional working capital to support growth initiatives for portfolio companies
- Complete annual audits for Aluf and subsidiaries, become fully reporting, file a registration statement, and take additional steps toward up‐listing off OTC Pink Sheets.
"We are doing everything in our power to put Aluf in a position of strength. I am confident that we will succeed through solid strategic execution of our planned acquisitions, consolidations, and the expansion of our portfolio businesses" stated Dany Bouchedid, President/CEO. "This will allow us to hit our projections of over $75 million in gross revenue within five years, with a CAGR of over 30%.", continued Mr. Bouchedid.
About 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 focus includes the Biometric, Blockchain, Cybersecurity, Cloud Computing, AI, Computer Vision and Software/Hardware verticals. For more information go to www.aluf.com
COLOTRAQ is the foremost global sourcing advisory firm and master agency for colocation, managed hosting, cloud and related network services. Since 1999, COLOTRAQ has been helping find data center infrastructure solutions for businesses and institutions worldwide through its unrivaled network of over 400 service providers, 200 of which provide cloud services in over 1,300 cities across 140 countries and territories. Through DCITRAQ, its industry leading cloud-based software for sourcing Colocation, Cloud, Connectivity and Cybersecurity, COLOTRAQ can instantly source customer requirements from a single rack to thousands of square feet of Data Center space along with Managed Hosting, Cloud-based infrastructure, Cybersecurity and network services anywhere in the world. For more information go to www.colotraq.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 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 the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Aluf Holdings, Inc.
Chief Financial Officer
SOURCE Aluf Holdings, Inc.