Dallas, TX – November 25, 2019 — — Alternet Systems, Inc. (USOTC: ALYI) today highlighted the company’s steady ongoing progress as highlighted in the most recent periodic financial report published with OTC Markets for the period ended September 30, 2019. The company maintains an ongoing base consulting business now well into its second year that supports the company’s bigger picture electric vehicle development operations that have evolved from the company’s experience with various emerging energy storage technologies. The consulting business generating $240,000 in annual revenue provides both operational synergies and financial support to ALYI’s long-term eclectic vehicle development objectives. ALYI has initiated and continues to develop $300 million in electric vehicle projects focused today primarily in Africa targeting the shared ride market. Through a partnership, ALYI has recently announced a finance initiative intended to dramatically expand its electric vehicle developments in Africa. ALYI last week hosted a kick off meeting in Dallas with IW Global (www.IW-Global.com), and ALYI’s Kenyan electric vehicle production partner to raise $100 million to fund infrastructure for the ongoing production of electric vehicles in Africa. ALYI plans to publish the latest on the project tomorrow, Tuesday, November 26, 2019.
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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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