July 14, 2020 -- InvestorsHub NewsWire -- via Microcap Daily --

BY ALEX CARLSON ON JULY 13, 2020        


 

Alternet Systems, Inc. (OTCMKTS: ALYI) is making an explosive move up the charts quickly attracting legions of shareholders and emerging as a volume leader in small caps regularly topping $2.5 million in daily dollar volume.

ALYI got a serious boost after the Company announced initiating a design and engineering phase of a development to construct facilities covering approximately 100 acres that will be required to host the intended anchor event at the company’s annual electric mobility conference and symposium. The company recently announced a $2.5 million investment deal intended to fund this first phase of the development. The $2.5 million is an advance on a $25 million investment currently committed under a letter of intent. Next week, on Tuesday, July 14, management plans to publish more details on the 100-acre development.

Alternet Systems, Inc. (OTCMKTS: ALYI) bills itself as focused on offering varied, environmentally sustainable, energy storage solutions for targeted markets, including consumer electric vehicles and military applications. All the excitement on ALYI is about the planned $300 million comprehensive electric vehicle strategy in Africa as well as the launch of a initial crypto currency offering (ICO) dedicated to funding ALYI’s overall $300 million electric mobility project in Africa. On July 1 ALYI announced the company will receive up to $2.5 million in advance of a $25 million first tranche investment agreement currently committed under a letter of intent (LOI).


Last week the Company announced initiating a design and engineering engagement leading to the development of facilities covering approximately 100 acers that will be required to host the intended anchor event at the company’s annual electric mobility conference and symposium.  Recently, the company confirmed a $2.5 million prefunding deal in conjunction with a recently announced $25 million first tranche investment at a $50 million enterprise valuation.  The full $25 million investment is anticipated to close within the next 90 days.

According to ALI the first tranche $25 million investment is one component of the investor’s overall $100 million initial cryptocurrency offering (ICO) strategy.  The investor is independently launching an ICO dedicated to funding ALYI’s overall $300 million electric mobility project in Africa with future plans to fund additional electric mobility initiatives in Africa.  The investor has already partitioned on the Ethereum Blockchain in advance of the planned ICO. The $25 million first tranche investment is structured at a $50 million pre-money valuation of ALYI in consideration of the company’s $300 million electric mobility initiative.  The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.

Currently running up the charts ALYI is an exciting story developing in snall caps; the Company continues to report on its planned $300 million comprehensive electric vehicle strategy in Africa as well as the launch of a initial crypto currency offering (ICO) dedicated to funding ALYI’s overall electric mobility project. announced initiating a design and engineering phase of a development to construct facilities covering approximately 100 acres that will be required to host the intended anchor event at the company’s annual electric mobility conference and symposium. The company recently announced a $2.5 million investment deal intended to fund this first phase of the development. The $2.5 million is an advance on a $25 million investment currently committed under a letter of intent. Next week, on Tuesday, July 14, management plans to publish more details on the 100-acre development. ALYI currently has massive momentum, liquidity and a fast growing shareholder base bidding the stock higher. We will be updating on ALYI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ALYI.

Disclosure: we hold no position in ALYI either long or short and we have not been compensated for this article.

Original publication: https://microcapdaily.com/bulls-take-charge-of-alternet-systems-inc-otcmkts-alyi/126468/

See other Microcap Daily featurs today on HDII, ABMC, and GAXY.


SOURCE: Microcap Daily
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