ALYI Announces LOI For New EV Fleet Order - Revenue Outlook Anticipated To Increase To $500 Million

Rhea-AI Summary

Alternet Systems, Inc. (ALYI) has signed a letter of intent with a new customer for ReVolt Electric Motorcycles, which could double its production outlook. ALYI has secured a $20 million electric motorcycle order and an additional $30 million contract, amounting to a total revenue opportunity of $300 million over six years. With the new order, ALYI forecasts its revenue outlook to reach $500 million. Further details on the potential order are expected next week.

Positive

• Signed a letter of intent for a new customer, potentially doubling production outlook.
• Currently holds a $20 million electric motorcycle order and an additional $30 million contract.
• Total revenue opportunity projected at $300 million over six years, with potential to reach $500 million.

Negative

• None.

DALLAS, Sept. 11, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) has entered into a letter of intent (LOI) agreement with a new potential customer for ReVolt Electric Motorcycles. The actual order is expected to be complete by the end of September and it could double the company's current production outlook.  

ALYI currently has already entered into an initial $20 million electric motorcycle order and an additional letter of intent for a $30 million contract. Both agreements cover six-year durations resulting in an overall $300 million revenue opportunity for ALYI.  The new order expected to be signed later month would edge ALYI toward a $500 million revenue opportunity outlook.

ALYI plans to release additional details on the new potential order next week.

For more information and to stay up to date on ALYI's 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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SOURCE Alternet Systems, Inc.

FAQ

What is the recent LOI signed by Alternet Systems (ALYI)?

Alternet Systems has signed a letter of intent with a new customer for ReVolt Electric Motorcycles.

How much revenue opportunity does Alternet Systems (ALYI) have from new contracts?

The total revenue opportunity from current contracts is projected to be $300 million, with potential to reach $500 million.

When is the new electric motorcycle order expected to be completed by ALYI?

The new order is expected to be completed by the end of September.

What are the key figures related to Alternet Systems' (ALYI) electric motorcycle contracts?

ALYI has a $20 million order and a $30 million additional contract.

What updates can investors expect from Alternet Systems (ALYI) regarding the new order?

ALYI plans to release additional details on the new potential order next week.