ALYI Announces Building Electric Vehicle Merger and Acquisition Momentum

Rhea-AI Summary

Alternet Systems (OTC Pink: ALYI) has confirmed ongoing discussions for a merger and acquisition, with a non-disclosure agreement signed and due diligence in progress. The company has also broadened its merger and acquisition initiative to explore additional candidates. ALYI's CEO noted positive developments regarding its electric motorcycle taxi agreement and increasing attention on its electric vehicle racing initiative. The company aims to adapt its strategy to regain momentum in the electric vehicle market, anticipating future announcements. Updates will follow as developments progress.

Positive

• Ongoing merger and acquisition discussions may lead to strategic partnerships.
• Positive developments in electric motorcycle taxi agreement indicate potential revenue growth.
• Increased attention on electric vehicle racing initiative could enhance brand visibility.

Negative

• None.

Dallas, Texas, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Alternet Systems, Inc (OTC Pink: ALYI) today confirmed the previously announced merger and acquisition explorations and discussions are ongoing. An NDA has been executed and due diligence continues. 

ALYI Management today also announces that the company has expanded its merger and acquisition business development initiative to include additional candidates.

“Our electric motorcycle taxi agreement is developing nicely and getting some very positive attention of late,” said ALYI CEO Randell Torno. “At the same time, we have also been getting some very encouraging attention surrounding our electric vehicle racing initiative. I believe ALYI’s posture is well suited for regaining momentum in the electric vehicle market through the adaptation of our strategy in response to the evolving market conditions, and I anticipate our adaption to include a merger and acquisition aspect. Things are moving along. Stay tuned for more to come.”

The company will continue to provide updates as developments proceed.

To learn more about ALYI, visit 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.

Contact:
Alternet Systems, Inc.
Randell Torno
info@lithiumip.com
+1-800-713-0297

FAQ

What is the current status of Alternet Systems' merger and acquisition plans?

Alternet Systems is actively pursuing mergers and acquisitions, with ongoing due diligence following a signed NDA.

What business initiatives is ALYI focusing on?

ALYI is focusing on electric motorcycle taxis and electric vehicle racing as key business initiatives.

How might ALYI's merger and acquisition efforts impact its stock?

Successful mergers could lead to strategic growth and improved investor sentiment, potentially boosting ALYI's stock performance.

What recent developments are there regarding ALYI's electric motorcycle taxi project?

The electric motorcycle taxi agreement is gaining positive attention, suggesting strong market interest.

What future updates can we expect from Alternet Systems?

ALYI plans to provide ongoing updates as their merger and acquisition discussions and business initiatives progress.