Aluf Holdings Inc (AHIX)

[RichieRich]

Very surprised to see this move. Nice!

https://www.otcmarkets.com/stock/AHIX/news/AHIX-Retroactively-Terminates-Merger-with-Core-Wafer-Systems-Inc-and-Restates-Previously-Issued-Financial-Statements?id=201372

AHIX Retroactively Terminates Merger with Core Wafer Systems, Inc. and Restates Previously Issued Financial Statements Press Release | 08/20/2018
HOLLYWOOD, FL / ACCESSWIRE / August 20, 2018 / Aluf Holdings, Inc. ("AHIX") ("the Company") (OTC PINK: AHIX) announced today it had delivered a letter to Roger Goetz, seller of Core Wafer Systems, Inc., notifying him that the Company declares that merger agreement, which was consummated on October 26, 2012, is retroactively cancelled, effective October 1, 2015, citing fraud and gross misrepresentation. Roger Goetz is currently serving four and a half years in a Federal Prison for multiple counts of fraud and wire fraud.

As a result of the termination of the merger, the Company has restated its previously issued consolidated financial statements for each of the years ended December 31, 2015, 2016, and 2017 and the interim periods contained therein, as well as the Company's unaudited consolidated financial statements for the quarter ended March 31, 2018, to eliminate all consolidating entries.

The restatement of the Company's previously issued consolidated financial statements resulted in, among others, the following:

a decrease in accumulated deficit and an increase in total stockholders' equity at December 31, 2015 of $3.4 million and $2.4 million, respectively.
a decrease in total liabilities at December 31, 2015 of $1.6 million.