ALYI Previews Electric Vehicle Strategic Transition

Rhea-AI Summary

Alternet Systems (OTC Pink: ALYI) announces CEO Randell Torno's upcoming trip to East Africa to further the company’s electric vehicle strategy. This visit is part of a broader merger and acquisition initiative aimed at strengthening ALYI's position in the electric vehicle market. The company has executed a Non-Disclosure Agreement (NDA) and is pursuing additional acquisition targets. ALYI is also making progress with its initial electric motorcycle deployment in East Africa, while working on a website relaunch to reflect its evolving strategy.

Positive

• CEO Randell Torno's trip aims to advance electric vehicle strategy.
• Active merger and acquisition initiative could enhance growth.
• Initial electric motorcycle deployment in East Africa is progressing.
• Website relaunch to align with evolving electric vehicle strategy.

Negative

• None.

Dallas, Texas, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Alternet Systems, Inc (OTC Pink: ALYI) today announced CEO Randell Torno will be in East Africa starting next week on an extended trip to advance the company’s evolving electric vehicle strategy.

Mr. Torno’s trip coincides with the company’s current merger and acquisition initiative intended to accelerate an evolution of the company’s overall electric vehicle strategy.

The company has recently announced and confirmed an NDA executed and ongoing due diligence. 

Subsequently, the company has announced an expanded merger and acquisition initiative beyond the initial NDA to include additional merger and acquisition candidates. 

The company also indicated encouraging progress with its initial electric motorcycle deployment in East Africa is contributing to the company’s overall electric vehicle strategic evolution. 

The company has initiated work on relaunching its website to reflect the electric vehicle strategic evolution underway.

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 purpose of CEO Randell Torno's trip to East Africa?

The trip aims to advance Alternet Systems' electric vehicle strategy and support merger and acquisition initiatives.

What recent actions has Alternet Systems taken regarding mergers and acquisitions?

The company has executed a Non-Disclosure Agreement (NDA) and is expanding its acquisition initiatives.

What progress has Alternet Systems made with its electric motorcycle deployment?

The company reported encouraging progress with its initial electric motorcycle deployment in East Africa.

What changes are being made to Alternet Systems' website?

The website is being relaunched to reflect the company's evolving electric vehicle strategy.

What stock symbol is associated with Alternet Systems?

The stock symbol for Alternet Systems is ALYI.