FT. LAUDERDALE, Fla., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Aluf Holdings, Inc. ("AHIX") ("Aluf") (OTC PINK: AHIX) today announced that despite a slow recovery from COVID-19, 2022 was a transformational year. During 2022 the Company made major changes in its strategy, portfolio, and leadership, and achieved major milestones in strategic growth.
2022 Highlights
- Kicked off Q2 with a newly appointed Chief Executive Officer dedicated to Aluf’s strategic vision and the experience to expand and achieve our acquisition strategy.
- Entered into a collaboration for the development of a digital health device.
- Formation of three new operating segments developed to diversify our future revenue streams and expand our national brand.
- Acquired Rapid Tax USATS, a premier tax, accounting, and business advisory service to corporations, small businesses, and high net worth individuals nationwide.
- Announced the execution of non-binding Letters of Intent to acquire BizzUniverse SM and Bizz Shield ProSM, both privately held technology-based companies.
2023 Outlook
The next several months promise remarkable results as we take the company from no revenue at the beginning of 2022 to sustainable growth and profitability, including:
- Complete multiple acquisitions beginning with the two currently under contract.
- Launch and finalize multiple capital raises for traditional M&A debt financing and under a revised Private Placement providing 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.
2022 Results
For the year end, December 31, 2022, total assets decreased to $619,180 compared to $3,681,094 December 31, 2021, while total liabilities increased to $887,554 compared to $858,104 in the same period attributable to asset impairment.
- Total operating income increased to $62,025 compared to $00,
- Gross operating profit increased to $55,025 compared to $00,
- Operating net loss increased to $(898,536) compared to $(751,766),
- Impairment loss of $(3,315,000) compared to $00 in 2021.
“Our management team has developed a strategy that strikes to the core of a successful company,” begins Sam Jakobs, CEO. “Through a series of upcoming acquisitions of technology-driven companies and the continued rollout of Aluf’s new operating platforms, we are building the framework to do just that,” continues Jakobs.
About Aluf Holdings, Inc.:
Aluf Holdings, Inc. is a publicly traded holding company headquartered in Ft. Lauderdale, FL, engaged in acquiring, operating, and managing subsidiary companies in the development and sale of proprietary software and technology solutions. Our key strategy is to build a larger and more diverse company through strategic and managed acquisitions and growth. Our core focus includes biometrics, software and hardware verticals. For more information go to www.aluf.com
About Tax Partners USA, LLC.:
Tax Partners USA, LLC, is located in Davie, Florida doing business as Rapid Tax USATS, providing personalized virtual tax, accounting, and business advisory services to corporations, small businesses and high net worth individuals nationwide. Our professional staff at Rapid Tax USA focuses on the unique personal and business needs of their clients and provides them with customized solutions to meet their goals.
About BizzUniverse, Inc.:
BizzUniverse SM, is a technology company empowering individuals, entrepreneurs, business owners, community organizations, and other groups through its technology-based networking and business development platform designed to enable members to achieve their goals and realize higher levels of success. For more information go to https://www.bizzuniverse.com
About Bizz Shield Pro, Inc.:
Bizz Shield ProSM offers cost saving discount programs that help individuals and families proactively manage their healthcare costs and secure control over other liabilities which can significantly impact their financial future. Bizz Shield Pro’sSM benefit portal not only provides simple access to affordable benefit plans, but uniquely affords highly motivated individuals the ability to generate continuous sources of revenue generation through the Associate Sales Representative Program. Associates driven for success can utilize Bizz Leads ProSM, a premier lead generation system with access to top tier products and services as well as a National Associate Network, to exponentially increase their opportunity for growth. Bizz Leads ProSM, is a division of Bizz Shield ProSM. For more information go to https://www.bizzshieldpro.com and https://www.bizzleadspro.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.
Corporate Contact:
Aluf Holdings, Inc.
Teresa McWilliams, Chief Financial Officer
866-793-1110
