ALYI - ALTERNET EXPLORING USE OF ESTABLISHED ETHERIUM BASED CRYPTO CURRENCY TO ACCELERATE BUILDING ELECTRIC VEHICLE FACTORY
October 09 2019 - 10:51AM
InvestorsHub NewsWire
ALYI – ALTERNET EXPLORING USE OF
ESTABLISHED ETHERIUM BASED CRYPTO CURRENCY TO ACCELERATE BUILDING
ELECTRIC VEHICLE FACTORY
October 9, 2019 -- InvestorsHub NewsWire -- via Seeking
Alpha -- |About: Alternet Systems, Inc. (ALYI)
Originally Published On Seeking Alpha: www.seekingalpha.com/ALYI
- Manufacturing small efficient electric sidecar motorcycles for giant ride share
market.
- $50 million near term
sales.
- Potential $300 million in sales
over 6 to 10 years.
- ALYI using hemp to develop stronger and lighter car bodies and
batteries more powerful than lithium.
- ALYI has already sourced investment to fund the company’s
current plans for producing electric vehicles in Africa.
- The proposed $100 million investment would substantially permit
ALYI to expand upon and accelerate its current plans.
- ALYI is not dependent upon the proposed cryptocurrency
investment strategy.
- Goldman Small Cap Research targets $.09
Alternet Systems, Inc. (ALYI) announced engaging IW
Global to manage a potential $100 million strategic financing
initiative to fund a major expansion of the company’s electric
vehicle developments. The engagement is in response to an
unsolicited proposal made by IW Global to ALYI. The announcement
today includes a presentation (see below) on the rudimentary
proposed structure of the financing with general details on the
overall financing methodology.
ALYI continues to develop $300 million in electric vehicle
projects in Africa targeting the shared ride market and recently
confirmed a fleet order for an initial 50 electric motorcycles to
be delivered in Texas. The company successfully passed an electric
motorcycle prototype testing milestone recently and anticipates
having its production design pilot motorcycle completed any day.
The production design plans have already been approved by partners,
vendors and clients. Management plans to produce and publish a
short video of the production electric motorcycles once the
production version is finalized.
$100 Million Strategic Financing Strategy
IW Global has proposed launching and managing an Initial Coin
Offering (ICO) on ALYI’s behalf
specifically targeted at raising $100 million to fund
infrastructure for electric vehicle production in Africa.
IW Global ( www.IW-Global.com ) is a
well-established technology firm with a wide breadth of experience
spanning projects for NASA and more recently with multiple
blockchain solutions. Drawing on IW Global’s experience with
previous ICOs, IW Global has proposed the creation of a
cryptocurrency dedicated to funding infrastructure for electric
vehicle production in Africa dedicated to ALYI.
IW Global has been engaged by ALYI to develop a detailed
cryptocurrency strategy. ALYI has not committed at this time to
implementing the strategy once it is developed. Management plans to
carefully review and consider the detailed strategy prior to
potentially executing. Keep in mind, ALYI has already sourced
investment to fund the company’s current plans for producing
electric vehicles in Africa. The proposed $100 million investment
would substantially permit ALYI to expand upon and accelerate its
current plans, but by no means is ALYI dependent upon the proposed
cryptocurrency investment strategy.
The IW Global proposal specifically includes a regulatory
compliance component. A potential ALYI cryptocurrency launch would
be executed in compliance with prevailing regulatory
guidelines.
Ethereum is the proposed underling platform for the ALYI
cryptocurrency launch.
The Ethereum platform and blockchain is the most reliable
existing blockchain and is supported by the Ethereum Foundation,
based in Zug, Switzerland and the Ethereum Enterprise Alliance
based in the USA with members like Microsoft, Intel, Mastercard,
UBS, BBVA, Banco Santander, among others. IW Global is experienced
with Ethereum and has launched previous cryptocurrencies build on
the Ethereum platform.
As part of the strategic plan development, a survey will be
conducted to evaluate the potential of the ALYI cryptocurrency
funding opportunity. IW Global’s original proposal was for a figure
exceeding the agreed $100 million amount. Based on the survey
results, the actual implementation of an ICO strategy my target a
higher number.
ALYI management plans to publish progress reports as the ICO
strategy develops.
For more information, please visit: http://www.alternetsystemsinc.com
Legal Disclosure:
Except for the historical information presented herein, matters
discussed in this release contain forward-looking statements that
are subject to certain risks and uncertainties that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
statements. Emerging MicroCaps or BioResearchAlert or its
principals may have been compensated for its services. The
Information contains forward-looking statements, i.e. statements or
discussions that constitute predictions, expectations, beliefs,
plans, estimates, or projections as indicated by such words as
''expects,'' ''will,'' ''anticipates,'' and ''estimates'';
therefore, you should proceed with extreme caution in relying upon
such statements and conduct a full investigation of the Information
and the Profiled Issuer as well as any such forward-looking
statements.
SOURCE: Seeking Alpha
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