Aluf Holdings Inc (OTCMKTS:AHIX) on September 13, 2022, announced the termination of the Common Stock and Asset Purchase Agreement, by which it agreed in December 2021 to the acquisition of ITBiometrics, Inc.
On Tuesday, AHIX stock fell 0.80% to $0.0124 with more than 207.06K shares traded, compared to volume of 217.60K shares. The stock moved within a range of $0.0100 – 0.0124 after opening trading at $0.0100.
Aluf Holdings, Inc. Terminates Agreement To Acquire ITBiometrics, Inc.
The closing under the agreement had been subject to some conditions and though parties worked together in the last 10 months, some material closing conditions have not been met.
Sam Jakobs, CEO of Aluf Holdings said though the Purchase Agreement has been terminated with ITBiometrics, the company is committed to expanding its technology platform through the acquisition of businesses.
Aluf Holdings Inc. to Begin Development of Digital Healthcare Device
Holding company headquartered in Fort Lauderdale, Aluf Holdings Inc announced on July 21, 2022, about the plans for the development of digital healthcare devices.
The device is being developed together with a New York-based healthcare solutions company, SBN Group Corp. The principal objective is to optimize the patient’s standard of living but maintain privacy and safety.
Sam M. Jakobs, Aluf Holdings CEO said that the global digital health market will reach $551M by 2027, a significant rise from $220M in 2021.
Jakobs added that the expansion of offerings of healthcare services and products is crucial to serving people and demographic with chronic medical issues. The CEO added that he is looking forward to joining the ever-growing industry and facilitating increasing the quality of life.
“Although we have terminated the Purchase Agreement with ITBiometrics, we remain fully committed to the expansion of our technology platform through the acquisition of suitable businesses, including those within the biometric space”, states Sam Jakobs, CEO for Aluf Holdings.
AHIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0131 and $0.0201 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0433. The company has a total market capitalization of $1.83 million.