ALYI Announces Current Revenue And $300 Million Electric Mobility Project Remain On Track
May 07 2020 - 9:59AM
InvestorsHub NewsWire
Dallas, TX --
May 7, 2020 -- InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC:
ALYI) today announced that the company’s revenue has not been
impacted by the Covid-19 pandemic. ALYI management further
confirms that its $300 million African electric mobility project
also remains on track and to date, has not been impacted by the
Covid-19 pandemic.
ALYI management
acknowledges the company has held off on publishing regular updates
lately. “The world has been understandably preoccupied by an
historic world event threatening everyone’s health and welfare,”
stated Randell Torno, Alternet Systems CEO. “We felt the state of
our company was relatively inconsequential and news from us might
even be disrespectful. Now that the lifestyle and economic
conditions surrounding the pandemic are becoming more routine and
in confidence that a vaccine will be found greenlighting a once
again robust return to unrestricted economic activity, we thought
the time was right to at least provide a brief
update.”
The consulting
revenue the company currently earns has not been impacted. At
the company’s current design and engineering phase of development
with its African electric mobility project, again the pandemic has
had no impact at this time. ALYI is business as
usual.
The company has
made substantial strides of late with its funding partner for the
African electric mobility project. At the time of our last
published updates, our funding partner had already partitioned its
own cryptocurrency on the Ethereum Blockchain. A pre ICO
funding round is preparing to launch and ICO details are being
finalized. ALYI management is optimistic that the timing of
the ICO will coincide with a window of relief in the
pandemic.
ALYI recently
filed to extend the date to publish its annual report for 2019 in
conjunction with the OTC Markets current requirements. The
report is expected to soon be filed within the extension period.
Following the report being published, management plans to issue a
more comprehensive update.
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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