ALYI EV Strategy Benefits From Industry Momentum Generated By TSLA WKHS NKLA And More
June 30 2020 - 11:04AM
InvestorsHub NewsWire
Dallas, TX -- June 30, 2020
-- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) management today highlighted recent electric vehicle (EV)
industry momentum in conjunction with ALYI’s own notable and
substantial progress. ALYI management points out that overall
industry progress brings attention to how ALYI learns from industry
readily recognized participants such as Tesla (TSLA)
and correspondingly implements a strategy to differentiate itself
and seize market segments separate from those targeted by the
readily recognized EV industry participants. ALYI today
announced executing a letter of intent (LOI) for a $25 million
first tranche investment in advance of a planned initial coin
offering (ICO) to fund ALYI’s $300 million electric mobility
initiative in Africa (see more below on $25 million investment and
ICO).
EV notable overall industry progress
concurrent with ALYI’s own progress includes TSLA anticipation of breaking even in Q2.
Workhorse (WKHS)
has gained substantial investment attention since recently
announcing safety standards progress. Electric truck
producer Nikola (NKLA)
is also getting substantial investment attention at this
time. Similarly, Tortoise Acquisition Corp (SHLL) is also an
investor favorite as it moves forward on the possible acquisition of
Hyliion.
ALYI $25 Million
Investment @ $50 Million Valuation And Planned
ICO
The planned ALYI 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.
The first $25
million tranche is structured to result in a change of control with
the investor becoming the controlling shareholder. A
management change is not part of the planned investment.
Randell Torno will remain as the Chief Executive Officer. A
second tranche at a valuation calculated after the first $25
million investment is planned before the end of the
year.
ALYI’s overall
$300 million comprehensive electric vehicle strategy in Africa is
founded on initially launching the commercial production of the
company’s own ReVolt Electric Motorcycle. The ReVolt Electric
Motorcycle pilot passed initial design requirements and ongoing
pilot design refinements are expected to soon deliver a reduced
overall weight and improved cruising
range.
For more
information and to stay up to date on the latest developments ,
please visit: http://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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