Allure Worldwide completes reverse acquisition of Genvor; Genvor becomes wholly-owned subsidiary

Genvor Inc

On May 27, 2022, Allure acquired Genvor in a reverse merger; Genvor shareholders received 35,261,871 shares (95% of Allure's outstanding stock).
Genvor develops plant-based defense technology against Aflatoxins; has CRADA with USDA-ARS for corn seed trait development.
Genvor has not yet generated revenue; accumulated deficit of $11.8M and net loss of $3.4M in 2021; going concern doubt raised.
Allure's founding shareholders retain 5% ownership with adjustments to maintain percentage.
Transaction accounted for as recapitalization; Genvor is the accounting acquirer.

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