ALYI Releases Update New Developments With Electric Motorcycle Assets

Rhea-AI Summary

Alternet Systems, Inc. (OTC Pink: ALYI) has provided an update on its discussions regarding a potential merger of its electric motorcycle assets. Following a letter to shareholders by CEO Randell Torno on May 17, ALYI is adapting its strategy to align with market conditions while pursuing its Electric Vehicle (EV) ecosystem vision. A non-disclosure agreement (NDA) has been executed, and due diligence for the merger talks is currently in progress. Further updates will be shared as developments unfold.

Positive

• Engaged in discussions for a merger of electric motorcycle assets, indicating potential growth opportunities.
• NDA executed, allowing for more secure and serious negotiations with third parties.

Negative

• Ongoing need to adapt strategy suggests previous challenges in executing the EV ecosystem vision.
• Risks associated with the potential merger, including uncertainties that may affect future performance.

Dallas, Texas, June 17, 2022 (GLOBE NEWSWIRE) -- Alternet Systems, Inc (OTC Pink: ALYI) today released the latest update on previously announced discussions with third parties originally highlighted in a letter to shareholders from CEO Randell Torno on May 17^th. 

ALYI is 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.

In an update to the discussions, the company today reports the discussions with the third party are specifically exploring a merger of ALYI’s electric motorcycle assets. An NDA has been executed, and due diligence is 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 latest update from Alternet Systems, Inc. regarding its electric motorcycle assets?

Alternet Systems, Inc. is currently in discussions for a potential merger of its electric motorcycle assets, with due diligence underway following the execution of a non-disclosure agreement (NDA).

Who is the CEO of Alternet Systems, Inc. and what did he announce?

CEO Randell Torno announced the latest updates regarding the company's strategy and potential merger discussions in a letter to shareholders on May 17.

What is the current status of Alternet Systems' Electric Vehicle ecosystem vision?

The company is adjusting its strategy to align better with market conditions as it continues to pursue its Electric Vehicle ecosystem vision.

When did Alternet Systems announce the discussions about its electric motorcycle assets?

The discussions concerning the merger of electric motorcycle assets were updated on June 17, 2022.