Alternet Systems Inc ALYI

RE:Pogohere, what do you make of this financial report?

[pogohere]

Both companies are deep in the hole financially, very deep. USMJ can't fund ALYI. ALYI will need to find its own funds to continue to operate and generate cash flow--if ever.

The latest expansion of state legalization was essential to both companies' prospects. They both need angel investors who are willing to bet that the marijuana industry in the US will turn to an alternate to the banking system, which system is still somewhat chary about federal liability for financing or handling banking money generated by selling a federally banned substance. Then there's the credit card companies. Both issues are addressed here:

https://www.inc.com/will-yakowicz/the-startup-quietly-convincing-banks-to-accept-cash-marijuana-industry.htmlbecause companies like Visa and Mastercard will not give the industry merchant accounts until federal law changes. For this reason, an entire cottage industry of armed cash pick-up and delivery companieshas emerged in states like California, Colorado, Oregon, and Washington to bring millions in cash to entrepreneur's homes, private vaults, or banks or local federal reserve branches (some banks prefer to bring the cash straight to their federal account) for the ones with bank accounts.

There are companies that process payments See: https://mjbizdaily.com/industry-directory/banking-point-of-sale/

And there is a large market and growing cash flow in marijuana.

Marijuana sales in Washington state top $1 billion/http: tinyurl.com/j3ehant