ALYI Moves One Step Closer To Closing $20 Million Electric Motorcycle Order
May 03 2019 - 8:25AM
InvestorsHub NewsWire
ALYI Moves One Step Closer To
Closing $20 Million Electric Motorcycle Order
DALLAS, TX --
May 3, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC: ALYI)
(“ALYI”) today announced a substantial development in the recently
announced opportunity to close 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. As of today, ALYI management
has 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 anticipated to be deemed current with its
required disclosures
shortly.
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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