Dallas, TX – November 6, 2019 — — Alternet Systems, Inc. (USOTC: ALYI) today confirmed the company has received questions regarding business developments with a brand name company pertaining to ALYI’s electric vehicle projects in Africa. In reaction to recent questions the company has received regarding a deal signed with a major electric vehicle brand involving a new project in Africa, ALYI management released the following statement: “Alternet Systems believes in and is committed to its electric vehicle initiative in Africa. Accordingly, we are enthusiastically developing resources to advance and expand upon our electric vehicle initiative in Africa. Our efforts to develop resources absolutely includes engaging with major brand names in the global electric vehicle market. We have made inroads with one major brand name in particular and anticipate making a joint announcement soon. Until then, we are not at liberty to comment on the specific organization nor any details regarding the nature of the potential agreement.”
ALYI is developing $300 million in electric vehicle projects in Africa targeting the shared ride market. The company has signed orders to produce in Africa, electric motorcycles with a side car initially for shared ride providers in Kenya. The company successfully passed an electric motorcycle prototype testing milestone recently and anticipates having its production design pilot motorcycle completed any day. ALYI has also recently announced a $100 million cryptocurrency investment strategy targeted at expanding beyond the company’s existing $300 million in electric vehicle projects in Africa.
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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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