AHIX Negotiates Debt to Equity Conversions

Cutting Debt on Balance Sheet by Over $1.7M

HOLLYWOOD, FL / ACCESSWIRE / July 5, 2018 / Aluf Holdings, Inc. ("AHIX") ("the Company") AHIX announced today it has reached agreements with holders of more than $1.7 Million of its debt to exchange their obligations for shares of the Company's Series B convertible preferred stock and/or restricted common stock.

"We have completed nearly $1 Million of the exchanges during the quarter ended June 30, 2018 and will complete the remaining exchange of debt for shares during the current quarter. This reduction of debt and increase in equity will be reflected in our second and third quarter financials and company disclosures," states Teresa McWilliams, CFO of AHIX.

"This plan to reduce debt and interest expense will increase shareholders' equity, demonstrate the confidence of our debt holders in our current business plan, and meets a requirement to reduce debt by M&A funding groups" allowing us to move forward with our current acquisitions, concluded Glenn W. Milligan, President & CEO.

About Aluf Holdings, Inc. (AHIX):

Aluf Holdings, Inc. AHIX is a holding company whose primary focus is the identification, acquisition, management, and aggressive growth of companies in the burgeoning biometrics vertical.

AHIX's merger and acquisition model targets unique biometrics enterprises with key common attributes and parameters. These include stellar management, a broad proprietary product and service offering, dedicated research and development, robust margins, high-growth potential, economies of scale, and low barriers to rapid, efficient integration of operations, especially sales, marketing, and customer service. As it expands, AHIX's overall portfolio of products and services will include secure, scalable, digital cyber security solutions for hyper-positive human identification, access management, feasibility studies, customized communications and automation analysis, bespoke software development, and other advanced technologies for facial, voice, fingerprint, finger vein, retinal scan, and recurrent still frame and video comparison verification. For more information visit www.alufinc.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 Contacts:

Aluf Holdings, Inc.
Glenn W. Milligan, President & CEO
Teresa McWilliams, CFO
866-793-1110

SOURCE: Aluf Holdings, Inc.