Dallas, Texas--(Newsfile Corp. - April 16, 2021) - Alternet Systems, Inc. (OTC Pink: ALYI) today confirmed a management update to be released next week on Tuesday, April 20, 2021 to review the recently published FY2020 Annual Report.
The update will cover the latest progress on the company's Electric Vehicle Ecosystem and include an excerpt from ALYI finance partner RevoltTOKEN on the latest progress with the ongoing rollout of their cryptocurrency, Revolt Tokens.
ALYI Secures New $1 Million Investment To Fund EV Ecosystem Expansion
The update next week will highlight a new agreement ALYI executed just last week that substantially expands the company's overall electric vehicle ecosystem vision and strategy.
The new agreement represents an electric vehicle deployment sector expansion beyond ALYI's current rideshare entry point. It also brings a geographic expansion opportunity beyond ALYI's current East African concentration.
The multitiered deal includes a new $1 million strategic investment into ALYI with a structure that management views as a confirmation of ALYI's current value potential. The investment structure also introduces an opportunity to substantially contribute to ALYI's balance sheet over the next year.
Details regarding the deal are disclosed in the subsequent events section of the pending ALYI FY2020 annual report.
"In April 2021, Alternet Systems, Inc. executed multiple business agreements in conjunction with a $1 million investment in Zoomcar, Inc. Alternet purchased Zoomcar convertible preferred stock at $2.50 per share. The purchase included one warrant per share to purchase Zoomcar common stock at $2.50 per share. To provide the funds for Alternet's investment, the Company issued a $1 million convertible note with a $0.10 conversion price."
This new agreement and corresponding expansion of the electric vehicle ecosystem, is the first in a pipeline of new opportunities management reports having been generated by the recent publishing of avideo demonstrating the company's first electric motorcycle intended to highlight ALYI's overall electric vehicle ecosystem business plan. Further opportunities will be covered in the coming management update.
Learn more about ALYI's overall Electric Vehicle Ecosystem Strategy.
Find out how to participate in ALYI's Electric Vehicle Ecosystem Strategy through the purchase of a dedicated cryptocurrency, Revolt Token (RVLT) on the RevoltTOKEN website:
www.RevoltToken.com
For more information and to stay up to date on ALYI's overall latest developments, please 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.
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80689
