DALLAS, TX – July 25, 2019 — — Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today announced its African production partner has signed-off on ALYI’s industrial design specifications plan for the ReVolt Electric Motorcycle to be mass produced for sales in Africa. ALYI recently announced meetings taking place in Dallas over the next two weeks with its African production partner to finalize comprehensive plans for the mass production of ALYI’s ReVolt Electric Motorcycle in Africa. In April, ALYI announced agreements from Africa worth $50 million. At that time, the company announced a Letter of Intent (LOI) for a ReVolt Electric Motorcycle assembly plant in Kenya that includes an initial $20 million order of 2,000 ReVolt Electric Motorcycles. The company published a presentation following the LOI to further detail the assembly plant LOI and the supplemental aspect of the agreement to create over $50 million in value from the ALYI African strategy and how the African strategy fits into the Company’s overall business plan. ALYI management plans to publish further key updates regarding the meetings in Dallas as the Kenyan partner visits with ReVolt Electric Motorcycle engineers planning for the production plant in Kenya. With the industrial design plans now confirmed, the meetings are focused on production schedule and material sourcing.
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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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