ALYI Finalizes Terms To Acquire 51% Of East African Business Expected To Accelerate EV Revenue Growth

Rhea-AI Summary

Alternet Systems, Inc. (OTC Pink: ALYI) has finalized acquisition terms for a majority stake in a Nairobi business to enhance its electric vehicle revenue. CEO Randell Torno anticipates the agreement will be formalized within two weeks. He is currently overseeing the rollout of electric three-wheel Bajaj vehicles in Addis Ababa. Torno will also travel to London for strategic meetings and a second acquisition. ALYI aims for $2 million in revenue from its electric motorcycles in 2021, establishing a comprehensive Electric Vehicle Ecosystem in East Africa.

Positive

• Finalized acquisition terms for a majority interest in a Nairobi business to boost electric vehicle revenue.
• Projected $2 million revenue target from electric motorcycle sales in the African market.

Negative

• Operational uncertainties with the recent acquisition which may pose integration challenges.

Dallas, Texas, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) today announced ALYI CEO Randell Torno has finalized acquisition terms to acquire a majority interest in a Nairobi business designed to accelerate the company’s electric vehicle revenue.

“It’s now in the lawyers hands to draft documents to formally memorize our agreement,” said Mr. Torno. “I expect we will have a final executed document within a week or two.”

Mr. Torno has departed Nairobi for Addis Abba where he is presiding over ALYI’s rollout of its first electric three-wheel Bajaj’s going into service as taxis and delivery vehicles – photos and videos of the event to follow upon Mr. Torno’s return to Dallas.

Next, Mr. Torno will travel to London where next week he will participate in strategic meetings further developing ALYI’s electric race in Nairobi in addition to finalizing terms on a second acquisition.

ALYI is an Electric Vehicle and overall Electric Vehicle Ecosystem company concentrating on the East African market with plans to expand into the overall global developing economic market.

The company recently announced a $2 million 2021 revenue target anticipated from sales of its first electric motorcycles into the African motorcycle market. 

ALYI is building an entire Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment, from the perpetual design of best in class vehicles to the perpetual design of the myriad of mechanical and digital systems that go into a best in class vehicle; from the charging and maintenance infrastructure that goes into supporting consumer and commercial vehicles, to the EV value proposition itself that drives consumers and businesses to transition from combustion engines to electric powered vehicles.

ALYI has designed its EV Ecosystem solution to include democratized participation. ALYI has partnered with Revolt Token to finance ALYI’s growth by offering participation in the EV ecosystem through the sale of Revolt Tokens.

To learn more about Revolt Token and how to participate in ALYI’s electric vehicle ecosystem through the purchase of Revolt Tokens, visit  https://rvlttoken.com/.

For more information and to stay up to date on ALYI's overall latest developments, please 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.

For more information, please visit: http://www.alternetsystemsinc.com
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297

FAQ

What acquisition did Alternet Systems, Inc. finalize recently?

ALYI finalized terms to acquire a majority interest in a Nairobi business to enhance its electric vehicle revenue.

What is ALYI's revenue target for 2021?

ALYI anticipates a revenue target of $2 million from the sales of its first electric motorcycles in the African market.

Who is overseeing the rollout of ALYI's electric vehicles?

CEO Randell Torno is leading the rollout of electric three-wheel Bajaj vehicles in Addis Ababa.

What are the strategic plans for ALYI following the acquisition?

After the acquisition, ALYI plans to conduct strategic meetings in London and finalize terms for a second acquisition.