ALYI Reports Financial Foundation For Supporting $300 Million Electric Vehicle Initiative

Rhea-AI Summary

Alternet Systems (ALYI) has announced a $240,000 recurring consulting agreement as part of their operational strategy. The company secured a $25 million investment commitment for its electric vehicle initiative, part of a broader $100 million cryptocurrency strategy with RevoltTOKEN. ALYI has initial agreements that could yield $300 million in revenue and is set to begin production of its ReVolt Electric Motorcycle aimed at Africa's burgeoning rideshare market, estimated between $9 billion and $80 billion. The Q2 report indicates stability without immediate funding needs for operations.

Positive

• Secured a $25 million investment commitment for electric vehicle growth.
• Potential revenue of $300 million from executed agreements.
• Recurring $240,000 annual consulting contract supports operations.

Negative

• Company reported a loss beyond operational essentials.

DALLAS, Aug. 26, 2020 /PRNewswire/ --

• $240,000 Recurring Consulting Agreement
• Essential Operations Covered By Recurring Consulting Agreement
• $25 Million Investment Commitment Dedicated To Rapid Growth Of EV Initiative
• $100 Million Cryptocurrency Strategy From Partner RevoltTOKEN
• $300 Million Revenue Potential From Executed Agreements

Alternet Systems, Inc. (USOTC: ALYI) today published a management update in conjunction with the recent filing of the company's Q2 2020 financial report.

ALYI has developed a multi-passenger electric motorcycle for deployment into the rideshare market in Africa where Uber and Lyft have already deployed operations and begun to move into the motorcycle rideshare sector.  

Motorcycle ride hailing apps are gaining more and more market attention in Africa. The market opportunity size varies widely from expert to expert ranging from $9 billion to $80 billion.

ALYI has entered into initial agreements worth a potential $300 million in revenue. ALYI plans to be in production on its ReVolt Electric Motorcycle later this year.

The company has secured an initial $25 million investment commitment that is part of a $100 million cryptocurrency offering organized by the investor, RevoltTOKEN (www.revolttoken.com).

In the meantime, the recent Q2 2020 financial report shows the continuation of a long-term consulting contract that covers the company's base operations. ALYI does not need to raise funds to sustain base operations. Fundraising is dedicated to the growth of the company's electric mobility initiative. 

ALYI enjoys a recurring $240,000 annual contract that covers operational essentials. While the company does report a loss, the excess loss beyond operating essentials does not present a current risk to sustainability. 

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
+1-800-713-0297

 

 

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SOURCE Alternet Systems, Inc.

FAQ

What is the recent investment commitment for Alternet Systems (ALYI)?

Alternet Systems has secured a $25 million investment commitment aimed at boosting its electric vehicle initiative.

What is the revenue potential from Alternet Systems' agreements?

ALYI has initial agreements that could generate a potential revenue of $300 million.

What is the current financial status of ALYI according to their Q2 report?

The Q2 report indicates that the company does not need to raise funds for base operations, though it reports a loss beyond operational essentials.

What is the projected market size for motorcycle rideshare in Africa?

The motorcycle rideshare market in Africa is estimated to be between $9 billion and $80 billion.

When will Alternet Systems begin production of its ReVolt Electric Motorcycle?

ALYI plans to start production of its ReVolt Electric Motorcycle later this year.