ALYI - Alternet Systems Announces Q3 2017 Update Highlighting Patented Lithium Technology With $3 Million Estimated Value
November 21 2017 - 9:25AM
InvestorsHub NewsWire
Dallas, TX -- November 21,
2017 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today released a shareholder presentation to review the
recently filed financial report for the 3rd Quarter of
2017 highlighting the company’s transition to a new lithium energy
integration and development business plan. The report is
available on the Company’s website and with the entire narrative
included below.
Alternet Moves Into Lithium Energy Integration And
Development
On July 21, 2017, the Company acquired Lithium IP Holdings in a
transaction that included a management and business direction
change. Randell Torno was named the new Alternet Systems
Chairman and CEO. Edward Bollen, the President of Lithium IP
Holdings, also joined the Altnernet Systems management team.
On June 23, 2017, Lithium IP Holdings executed an agreement with
Air Products and Chemicals, Inc.
(NYSE: APD) to exclusively license ten U.S. Patented lithium battery technologies with an
option to acquire the ten U.S. Patents.
Randell Torno and Ed Bollen both have a long background working with companies that
are key participants in both industrial and military technology
industries. Together they bring both public and private
sector experience working in the military and intelligence
sectors. Both retired from government service, but are still
engaged in recurring work with foreign and domestic government
agencies. In their experience, they have repeatedly come
across demand for resilient energy solutions that meet industrial
and military requirements for stable, safe, long duration power in
high impact operating systems. Accordingly, they went to look
for such a technology solution and found the portfolio of ten
lithium energy technology patents that are now exclusively licensed
to Alternet in an agreement that includes an option to
purchase.
In the first quarter of 2017, Mr. Torno and Mr. Bollen raised funds
privately to research and ultimately acquire an energy storage
technology that would satisfy industrial and military requirements
for stable, safe, long duration power in high impact operating
systems. The merger of the Air Products and Chemicals Lithium
Patent Portfolio into Alternet is now public information.
Alternet’s New Lithium Technology Integration And
Development Strategy
Alternet’s business strategy
today is to partner with prominent third parties producing products
and services that require stable, safe, long duration power in high
impact operating systems. Within such partnerships, Alternet
and each partner will together develop an integrated solution that
includes a power component based on Alternet’s lithium technology.
The combination of Alternet’s military background and high
potential of the technology for applicability in military solutions
presents a promising partnership development opportunity. At
the same time, Alternet is also developing partnerships separate
from the military industrial sector to include the Electric Vehicle
(EV) and Hybrid Electric Vehicle (HEV) partners. Several
potential partners participated in Alternet’s vetting process when
identifying and selecting a technology to acquire as the foundation
of the company’s strategy to bring a stable, safe, long duration
power solution to market for high impact operating systems.
Partnership announcements are anticipated to be forthcoming
soon.
$3 Million Technology Portfolio Acquired and $4 Million
Debt Targeted for Write-Down
The current financial statement largely reflects the previous
financial services business which it exited when the company
acquired the current lithium business. The company has little
in the way of revenues to report over the last two years from its
previous financial services business. The company anticipates
generating future revenues from the integration and development of
lithium power solutions. The balance sheet reports over $4
million in legacy liabilities. Management is actively engaged
in addressing legacy liabilities that have little in the way of any
security since the debts were incurred from the financial
operations that are no longer active. Management’s goal is to
reduce or write-down a substantial portion of the legacy
debt. At the same time, the value of portfolio of patents has
been estimated at approximately $3 million. The company has
conservatively not entered any asset value on the company’s balance
sheet at this time. As the company engages into partnerships
to integrate and develop lithium solutions based on the portfolio
of the lithium patents, the conservative approach to addressing the
value of technology portfolio can be offset by the resulting
revenues. Management’s goals include executing the first lithium
integration and development partnerships and making dramatic
improvement to the company’s balance by the time the 2017 year-end
financial statement is reported.
Lithium Exploration Group, Inc. (LEXG) Business
Development
Lithium Exploration Group, Inc. (USOTC:
LEXG) and Alternet remain engaged in business development
efforts surrounding a combined strategy leveraging the respective
lithium technologies of both companies. The two respective
management teams consider the two respective lithium technology
portfolios to be complimentary and remain committed to striking a
deal between the two companies.
Learn more on the company's website: www.otc-alyi.com or www.lithiumip.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
https://www.otc-alyi.com/contact/