ALYI Reports Financial Foundation For Supporting $300 Million Electric Vehicle Initiative
August 26 2020 - 1:05PM
InvestorsHub NewsWire
Dallas, TX -- August 26, 2020 --
InvestorsHub NewsWire
- $240,000 Recurring Consulting Agreement
- Essential Operations Covered By Recurring Consulting
Agreement
- $25 Million Investment Commitment Dedicated To Rapid Growth Of
Electric Vehicle Initiative
- $100
Million Cryptocurrency Strategy From Partner RevoltTOKEN
- $300 Million Revenue Potential From Executed Agreements
Alternet Systems, Inc. (USOTC:
ALYI) today published a management update in conjunction with
the recent filing of the company’s Q2
2020 financial report.
ALYI has developed a
multi-passenger electric motorcycle for deployment into the
rideshare market in Africa where Uber and Lyft have already
deployed operations and begun to move into the motorcycle rideshare
sector.
Motorcycle ride
hailing apps are gaining more and more market attention in
Africa. The market opportunity size varies widely from expert
to expert ranging from $9 billion to $80
billion.
ALYI has entered into
initial agreements worth a potential $300 million in revenue.
ALYI plans to be in production on its ReVolt Electric Motorcycle
later this year.
The company has
secured an initial $25 million investment commitment that is part
of a $100 million cryptocurrency offering organized by the
investor, RevoltTOKEN (www.revolttoken.com).
In the meantime, the
recent Q2 2020 financial report shows the continuation
of a long-term consulting contract that covers the company’s base
operations. ALYI does not need to raise funds to sustain base
operations. Fundraising is dedicated to the growth of the
company’s electric mobility
initiative.
ALYI enjoys a
recurring $240,000 annual contract that covers operational
essentials. While the company does report a loss, the excess
loss beyond operating essentials does not present a current risk to
sustainability.
For more information
and to stay up to date on ALYI’s latest developments , please
visit: https://www.alternetsystemsinc.com
Disclaimer/Safe
Harbor: This news release contains forward-looking statements
within the meaning of the Securities Litigation Reform Act. The
statements reflect the Company's current views with respect to
future events that involve risks and uncertainties. Among others,
these risks include the expectation that any of the companies
mentioned herein will achieve significant sales, the failure to
meet schedule or performance requirements of the companies'
contracts, the companies' liquidity position, the companies'
ability to obtain new contracts, the emergence of competitors with
greater financial resources and the impact of competitive pricing.
In the light of these uncertainties, the forward-looking events
referred to in this release might not
occur.
Alternet Systems, Inc.
Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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