Consolidated Updates - November 3, 2018 - Social M
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Posted On: 11/04/2018 10:14:25 AM
Consolidated Updates - November 3, 2018 - Social Media Q&A.
Q: What firm will audit your next filing?
A: The Company’s management and BOD are currently looking into a number of local and regional, and out of state PCAOB firms. Because the acquisition targets are currently privately held, it must be determined whether or not one audit firm can accommodate all the entities or will multiple firms be required.
Q: What new projects is Aluf working on and what is the plan to raise the current share price?
A: The Company recently submitted a Letter of Interest to another well established, profitable technology company stating our interest in pursuing an acquisition. Once an agreed upon price is reached the next steps are; 1) issue a Letter of Intent, 2) complete due diligence, 3) sign a definitive purchase agreement and 4) obtain loan funds for closing.
Q: Do you have any active acquisition targets in the CBD space that could possibly be completed before the funding for Biometrics?
A: Talks will be taking place with a potential acquisition target later in the week. The Company is unable to predict the closing at this time as there is not yet an agreement in place.
Q: What happened to the CBD “tease”?
A: That announcement was not a tease nor was it intended to stir up market activity. Unfortunately, the distributor we were in discussions with launched their own massive online marketing campaign. There was already mounting competition in the distribution and sale of CBD products and the cost to compete directly against our own supplier would have been financial suicide.
Q: Do you feel this latest move will have the ability to allow Aluf to bounce back and begin to flourish?
A: The only way for the Company to become profitable is through the planned acquisitions. The target companies currently under contract with Aluf are well established profitable businesses rich in biometric technology assets. The Private Placement funds along with traditional bank lending will allow Aluf to close on the current contracts.
Q: Is there a reverse split in the plans?
A: No. That questions has been answered repeatedly.
Q: Do you see the acquisitions having a positive impact on the share price?
A: The Company believes that increasing assets and profits through its planned acquisitions will have a positive impact on the share price.
Q: Can you explain how the private placement will help current shareholders? Won’t the private placement cause dilution?
A: The answer is simple. The funds from the private placement will allow us to complete acquisitions we have lined up because the money will be coming directly to the company and into a special account for the acquisitions. The acquisitions will add tremendous value to the company by adding assets to the balance sheet (including cash in the bank), revenue, and positive cash flow. All this adds to shareholder value. And, yes, there will be some dilution as a result of the Private Placement; however, the benefits of increasing shareholder value by adding millions of dollars in assets far outweigh any reasonable amount of dilution.
Q: The press release states that "The Company intends to use the net proceeds from the Private Placement to provide partial funding." What percentage of the total funding required does this "partial funding" represent?
A: The Company intends to use the lion share of the Private Placement funds directly for the acquisitions. It is anticipated that less than 10% will be used to cover current Accounts Payable, the payroll tax liability, insurance, audit retainers, and due diligence costs for additional acquisition targets.
Q: What does this mean: "The Company may pay a finder's fee in connection with the private placement within the amount permitted by law"?
A: The Company intends to complete the offering without the use of a broker but that A finder’s fee MAY be paid to a professional consultant for introducing a qualified investor who makes an investment. No such consultant has been engaged nor have any discussions with prospective consultants taken place; although the idea has not been ruled out as a general rule.
Q: Since Rule 506c permits issuers to broadly solicit and generally advertise an offering, where do you plan to advertise this offering?
A: The Company will be using social media and other platforms through an agreement with a marketing firm specializing in this arena. Details will be released later in the week.
Q: How will you verify that purchasers are accredited investors (e.g., W-2s, bank statements, etc)?
A: The Company will utilize the services of a professional organization established for the purpose of verifying investor accreditation.
Q: $4,000,000 divided by .0025 equals 1,600,000,000 shares. The recent A/S increase was only 2B. To issue the additional warrant shares, are you planning another increase in the A/S again?
A: No. The recent increase in authorized shares is sufficient to cover the exercise of all warrants and Preferred stock conversions.
Q: Specifically, to what acquisitions are you currently anticipating applying this financing?
A: Please refer to the Company’s Information and Disclosure statement and its current financial statements.
Q: What was the source of the $14,010 Gross Sales in the Q3?
A: Corporate consulting fees. Aluf’s management periodically provides accounting and other assistance to other CEO’s of start-up Microcap companies.
Follow here: https://twitter.com/AlufHoldingsinc
Q: What firm will audit your next filing?
A: The Company’s management and BOD are currently looking into a number of local and regional, and out of state PCAOB firms. Because the acquisition targets are currently privately held, it must be determined whether or not one audit firm can accommodate all the entities or will multiple firms be required.
Q: What new projects is Aluf working on and what is the plan to raise the current share price?
A: The Company recently submitted a Letter of Interest to another well established, profitable technology company stating our interest in pursuing an acquisition. Once an agreed upon price is reached the next steps are; 1) issue a Letter of Intent, 2) complete due diligence, 3) sign a definitive purchase agreement and 4) obtain loan funds for closing.
Q: Do you have any active acquisition targets in the CBD space that could possibly be completed before the funding for Biometrics?
A: Talks will be taking place with a potential acquisition target later in the week. The Company is unable to predict the closing at this time as there is not yet an agreement in place.
Q: What happened to the CBD “tease”?
A: That announcement was not a tease nor was it intended to stir up market activity. Unfortunately, the distributor we were in discussions with launched their own massive online marketing campaign. There was already mounting competition in the distribution and sale of CBD products and the cost to compete directly against our own supplier would have been financial suicide.
Q: Do you feel this latest move will have the ability to allow Aluf to bounce back and begin to flourish?
A: The only way for the Company to become profitable is through the planned acquisitions. The target companies currently under contract with Aluf are well established profitable businesses rich in biometric technology assets. The Private Placement funds along with traditional bank lending will allow Aluf to close on the current contracts.
Q: Is there a reverse split in the plans?
A: No. That questions has been answered repeatedly.
Q: Do you see the acquisitions having a positive impact on the share price?
A: The Company believes that increasing assets and profits through its planned acquisitions will have a positive impact on the share price.
Q: Can you explain how the private placement will help current shareholders? Won’t the private placement cause dilution?
A: The answer is simple. The funds from the private placement will allow us to complete acquisitions we have lined up because the money will be coming directly to the company and into a special account for the acquisitions. The acquisitions will add tremendous value to the company by adding assets to the balance sheet (including cash in the bank), revenue, and positive cash flow. All this adds to shareholder value. And, yes, there will be some dilution as a result of the Private Placement; however, the benefits of increasing shareholder value by adding millions of dollars in assets far outweigh any reasonable amount of dilution.
Q: The press release states that "The Company intends to use the net proceeds from the Private Placement to provide partial funding." What percentage of the total funding required does this "partial funding" represent?
A: The Company intends to use the lion share of the Private Placement funds directly for the acquisitions. It is anticipated that less than 10% will be used to cover current Accounts Payable, the payroll tax liability, insurance, audit retainers, and due diligence costs for additional acquisition targets.
Q: What does this mean: "The Company may pay a finder's fee in connection with the private placement within the amount permitted by law"?
A: The Company intends to complete the offering without the use of a broker but that A finder’s fee MAY be paid to a professional consultant for introducing a qualified investor who makes an investment. No such consultant has been engaged nor have any discussions with prospective consultants taken place; although the idea has not been ruled out as a general rule.
Q: Since Rule 506c permits issuers to broadly solicit and generally advertise an offering, where do you plan to advertise this offering?
A: The Company will be using social media and other platforms through an agreement with a marketing firm specializing in this arena. Details will be released later in the week.
Q: How will you verify that purchasers are accredited investors (e.g., W-2s, bank statements, etc)?
A: The Company will utilize the services of a professional organization established for the purpose of verifying investor accreditation.
Q: $4,000,000 divided by .0025 equals 1,600,000,000 shares. The recent A/S increase was only 2B. To issue the additional warrant shares, are you planning another increase in the A/S again?
A: No. The recent increase in authorized shares is sufficient to cover the exercise of all warrants and Preferred stock conversions.
Q: Specifically, to what acquisitions are you currently anticipating applying this financing?
A: Please refer to the Company’s Information and Disclosure statement and its current financial statements.
Q: What was the source of the $14,010 Gross Sales in the Q3?
A: Corporate consulting fees. Aluf’s management periodically provides accounting and other assistance to other CEO’s of start-up Microcap companies.
Follow here: https://twitter.com/AlufHoldingsinc
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A very apposite motto for those who trade successfully in the OTC market..
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A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
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