Dallas, Texas–(Newsfile Corp. – August 26, 2020) – Alternet Systems, Inc. (OTC Pink: 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.
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