July 6, 2020 -- Investorshub NewsWire -- via Microcap Daily -- BY JACOB WATSON -- Alternet Systems, Inc. (OTCMKTS: ALYI) continues to see higher highs and higher lows surging past a penny and establishing itself as one of the top most traded stocks in small caps regularly topping several million USD in daily trading volume.

The stock has quickly attracted legions of shareholders as 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 $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).

Alternet Systems, Inc. (OTCMKTS: 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.

The big story on ALYI is its planned $300 million comprehensive electric vehicle strategy in Africa 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.  ALYI has partnered with an independent firm founded specifically for launching an 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).  ALYI yesterday announced executing a letter of intent (LOI) for a $25 million first tranche investment at in advance of a planned initial coin offering (ICO) to fund ALYI’s $300 million electric mobility initiative in Africa.  In addition to producing the ReVolt Electric Motorcycle for the shared-ride market, ALYI intends to generate annual revenue from producing an annual electric mobility conference and symposium that includes a major brand name anchor event.  The prefunding is intended to support the initiation of immediate efforts necessary to prepare for the inaugural electric mobility event next year.  The funds will be provided as a loan convertible into the $25 million first tranche investment.  The complete first tranche investment agreement is anticipated to be completed within the next 90 days.

The developing ALYI annual African electric mobility technology conference and symposium is designed to advance the deployment of electric powered transportation solutions specific to Africa. The focus includes environmental sustainability but also overall transportation efficiency applicable to the African transportation infrastructure, economy, and consumer. ALYI CEO, Dr. Randell Torno, contends that the immediate opportunity for electric powered transportation growth in Africa by far exceeds the electric powered transportation opportunity anywhere else in the world and that the electric mobility technology innovations that will be developed for Africa will ultimately form the foundation of commercial electric powered transportation everywhere. In short, Africa is the global proving ground for electric powered transportation. The planed conference and symposium location is Nairobi, Kenya.

Currently trading at a $5.7 million market valuation 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. 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) to fund its initiatives. 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.

Original Publication:  https://microcapdaily.com/the-rapid-rise-of-alternet-systems-inc-otcmkts-alyi/126255/

Other Microcap Daily features include Decsion Diagnostics (DECN), Inspyr Therapeutics (NSPXD), and Elite Pharmaceuticals (ELTP).

 

SOURCE: Microcap Daily

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