ALYI Investment Prospects Could Exceed $100 Million Target

Rhea-AI Summary

Alternet Systems (ALYI) announced plans for a $100 million funding transaction with RevoltTOKEN, which has secured the final component needed to proceed. A presentation on September 2 will detail this funding, along with progress on RevoltTOKEN's initial cryptocurrency offering (ICO). ALYI has initiated a $2.5 million draw down from a $25 million first tranche to build a 100-acre facility in Africa. Additionally, the company expects a new order for its ReVolt Electric Motorcycle, potentially increasing its revenue opportunities to $500 million.

Positive

• Funding partner RevoltTOKEN confirms $100 million funding transaction, enhancing financial prospects for ALYI.
• Initial $25 million tranche includes a $2.5 million draw down for infrastructure development.
• Anticipated new fleet order for ReVolt Electric Motorcycle could double production outlook.
• Current contracts offer a potential $300 million revenue opportunity, with new orders pushing it toward $500 million.

Negative

• None.

DALLAS, Aug. 28, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today confirmed the company's funding partner, RevoltTOKEN (www.revolttoken.com) will present a comprehensive update next Wednesday, September 2, 2020 on the $100 million transaction intended to fund ALYI's electric mobility business. RevoltTOKEN has just secured the last key component necessary to proceed with the funding transaction. 

In addition to featuring the key component now in place, the presentation will include an overall update on progress toward the launch of the RevoltTOKEN initial cryptocurrency offering (ICO). Based on both individual investor and institutional investor response, the presentation will specifically include an overview on how the $100 million funding target could well be exceeded.

ALYI has entered into a comprehensive funding agreement with RevoltTOKEN that includes an existing $25 million first tranche investment commitment at $0.05 per share. ALYI has initiated a $2.5 million draw down on the first $25 million to begin construction on a 100-acre facility in Africa.  Overall, RevoltTOKEN intends to invest $100 million in ALYI in conjunction with an independent initial cryptocurrency offering (ICO). RevoltTOKEN has already partitioned a cryptocurrency on the Ethereum Blockchain in advance of the planned ICO.

Yesterday, ALYI announced that it expects a new fleet order for its ReVolt Electric Motorcycle to double the company's current production outlook. Earlier this month the company announced entering into discussions regarding additional fleet orders. Management now expects to sign an order resulting from those discussions by the end of September.

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 next month would edge ALYI toward a $500 million revenue opportunity.

Over two years ago, ALYI piloted an electric motorcycle that in its first rendition was a BMW R71 clone retrofitted with an electric motor. The BMW R71 is a breathtaking iconic image popularized through decades of frequent Hollywood screen appearances in addition to the real engineering breakthroughs that maintain the bike's relevance.

Still drawing on the BMW R71 original design and look, after several design iterations, the ReVolt Electric Motorcycle today is an innovation feat. When ALYI unveils the production version of the ReVolt Electric Motorcycle, it will be an industry changing event. The ReVolt Electric Motorcycle is a connected, state of the art electric motorcycle, ergonomically optimized for its target market while still maintaining an iconic look.

ALYI expects to be in production later this year.

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
+1-800-713-029

 

View original content:http://www.prnewswire.com/news-releases/alyi-investment-prospects-could-exceed-100-million-target-301120362.html

SOURCE Alternet Systems, Inc.

FAQ

What is the funding amount associated with Alternet Systems (ALYI) and RevoltTOKEN?

The funding amount is $100 million, as confirmed by RevoltTOKEN.

When will RevoltTOKEN present an update regarding ALYI's funding?

RevoltTOKEN will present an update on September 2, 2020.

How much has ALYI drawn down from its funding agreement?

ALYI has initiated a $2.5 million draw down from the $25 million first tranche.

What is the expected revenue opportunity for ALYI from new orders?

The expected revenue opportunity could reach $500 million with new fleet orders.

What production plans does ALYI have for its ReVolt Electric Motorcycle?

ALYI expects to be in production later this year for the ReVolt Electric Motorcycle.