Aluf Holdings Inc (AHIX)

[Cash47873]

This is from the Interim Financial report from 12/11- http://www.otcmarkets.com/financialReportViewer?symbol=APII&id=73085
I don't think they are hiding anything.

$APII.

4. LIABILITIES
On November 30, 2011 the Company entered into an Installment Promissory Note
(Note 1) with Magsamen Consulting, LLC in the principal sum of $195,000 without
interest, as settlement of a default judgment. The initial payment of $20,000 was
also paid on November 30, 2011, with an additional payment of $25,000 due on or
before March 3, 2012 then quarterly payments of $18,750 thereafter, beginning
June 15, 2012.
On February 20, 2011 the Company entered into a Promissory Note (Note 2) as
settlement of an old accounts payable amount incurred prior to 2008. The principal
amount of Note 2 is $487,773 with interest at 8% per annum. As of December 31,
2011 the Company had not made any payments.
2011 2010
Land $ 67,400 $ 67,400
Buildings and improvements 1,058,034 1,058,034
Transportation Equipment 384,566 342,066
Furniture, Fixtures, Computer equipment and
purchased software 792,372
792,372
Less: accumulated depreciation (3,647,164) (3,494,559)
$ 454,078 $ 564,183
On March 26, 2010 the Company’s wholly owned subsidiary, Northeast Expedite
Logistics, LLC (NEEL) entered into a Promissory Note (Note 3) for various cash
advances received from a related party totaling $114,200 with interest at the rate of
20%.

Like I said. I don't think they are hiding anything.