ALYI Announces New EV Strategic Opportunities Under Development

Rhea-AI Summary

Alternet Systems, Inc (OTC Pink: ALYI) announced progress in business development discussions with third parties in a letter from CEO Randell Torno. These discussions, which follow a previous update on May 17, aim to enhance the company’s Electric Vehicle (EV) ecosystem vision. A preliminary plan prioritizing branded EV events and exploring third-party collaborations is in place. The CEO indicated that discussions have progressed to specific opportunities, with another update expected next week.

Positive

• Engagement in business development discussions with multiple third parties.
• Preliminary plans to prioritize branded EV events and collaborations.

Negative

• Reliance on third parties for capitalizing on EV ecosystem efforts.
• Uncertainty surrounding the achievement of significant sales and contract performance.

Dallas, Texas, June 08, 2022 (GLOBE NEWSWIRE) -- Alternet Systems, Inc (OTC Pink: ALYI) today announced the company’s business development discussions with third parties highlighted in a letter to shareholders from CEO Randell Torno on May 17^th are gaining traction and generating new opportunities.

Last month, CEO Randell Torno provided an update on the developing plans to adapt the company’s strategy to continue on course toward achieving its Electric Vehicle (EV) ecosystem vision within the conditions presented by the prevailing market.

From the CEO’s May Update:

“We have developed a preliminary plan to prioritize our branded EV race and symposium and find opportunities to maintain our other EV ecosystem acceleration efforts through third parties that have the resources to capitalize the specific effort. We are moving quickly to engage with third parties and explore the viability of our preliminary plan. We have already entered conversations with multiple third parties.”

The company now reports that third party discussions have materialized to a stage where specific opportunities are being discussed.  Next week, Mr. Torno plans to release another update to elaborate on the developing opportunities.

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 latest update from Alternet Systems (ALYI) regarding their business development?

Alternet Systems reported progress in discussions with third parties to advance their Electric Vehicle ecosystem.

When did Alternet Systems provide their last update to shareholders?

The last update from Alternet Systems was provided on May 17, 2022.

What plans does Alternet Systems have for their Electric Vehicle ecosystem?

The company has a preliminary plan focused on branded EV events and looking for third-party collaborations.

What are the risks mentioned by Alternet Systems in their press release?

The company highlighted risks such as achieving significant sales and the performance requirements of contracts.

Is there any new opportunity being discussed by Alternet Systems (ALYI)?

Yes, specific opportunities from discussions with third parties are currently being explored.