ALYI Confirms London Follow-Up On $20 Million Electric Motorcycle Project
May 07 2019 - 9:10AM
InvestorsHub NewsWire
ALYI Confirms London Follow-Up On
$20 Million Electric Motorcycle Project
DALLAS, TX --
May 7, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC:
ALYI) (“ALYI”) today confirmed
a previously announced new development in the company’s progress
toward winning a strategic $20 million order for their ReVolt
Electric Motorcycles. Last month, ALYI management held key
meetings in Kenya in conjunction with a developing opportunity to
open an assembly plant to complete manufacturing in Africa for
ReVolt Electric Motorcycles to be sold across the African
continent. The deal to build the manufacturing opportunity
included an initial order for two thousand ReVolt Electric
Motorcycles which would total $20 million in sales. ALYI has
already signed $1.5 million in confirmed orders for its ReVolt
Electric Motorcycles to be delivered in Kenya prior to last month’s
meetings. Last week, ALYI management received confirmed
investment interest in the Kenyan assembly plant project.
With the combination of the physical plant asset and the initial
$20 million order, a potential European investment group has
formally expressed initial investment terms and invited ALYI
management to meet in London later this month for the purpose of
refining the terms into a
contract.
ALYI is focused
on offering varied, environmentally sustainable, energy storage
solutions for targeted markets, including consumer electric
vehicles and military applications. The first product category is
lithium battery-powered motorcycles, to be followed by motorbikes.
ALYI also has an ongoing hemp energy storage initiative leading its
current efforts to introduce an alternative to lithium
batteries.
ALYI Updated Periodic OTC Market Current Information
Standard Reporting
ALYI has
recently made a change in its OTC Market Current Information
Standard Reporting procedures. In addition to requiring
quarterly and annual financial reports and certain form
disclosures, OTC Market Current Information Standard Reporting
requires companies to have a lawyer review a company’s disclosures
and publish a letter in the company’s disclosures regarding their
findings. The lawyer that has previously conducted this
review for ALYI has recently suffered a major health issue and ALYI
has had to engage a new lawyer. The unanticipated health
issue and the corresponding change resulted in a slight delay in
the filing of this required legal letter. The letter is now
published and ALYI is again deemed current with its required
disclosures by OTC Markets.
Research Report Speculative Buy Rating And $0.09
Target PPS
Goldman Small Cap Research has recently issued a
research report update on the Company. The report confirms a
'speculative-buy' rating with a target price-per-share
of $0.09. The report provides an in-depth overview and
analysis of Alternet's new strategy, new orders, and upcoming
milestones. To view the report, along with disclosures and
disclaimers, visit https://www.alternetsystemsinc.com/research-update or http://www.GoldmanResearch.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.
For more information, please visit: http://www.alternetsystemsinc.com
Alternet
Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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