DALLAS, May 07, 2019 (GLOBE NEWSWIRE) — — Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today confirmed a previously announced new development in the company’s progress toward winning a strategic $20 million order for their ReVolt Electric Motorcycles. Last month, ALYI management held key meetings in Kenya in conjunction with a developing opportunity to open an assembly plant to complete manufacturing in Africa for ReVolt Electric Motorcycles to be sold across the African continent. The deal to build the manufacturing opportunity included an initial order for two thousand ReVolt Electric Motorcycles which would total $20 million in sales. ALYI has already signed $1.5 million in confirmed orders for its ReVolt Electric Motorcycles to be delivered in Kenya prior to last month’s meetings. Last week, ALYI management received confirmed investment interest in the Kenyan assembly plant project. With the combination of the physical plant asset and the initial $20 million order, a potential European investment group has formally expressed initial investment terms and invited ALYI management to meet in London later this month for the purpose of refining the terms into a contract.
ALYI is focused on offering varied, environmentally sustainable, energy storage solutions for targeted markets, including consumer electric vehicles and military applications. The first product category is lithium battery-powered motorcycles, to be followed by motorbikes. ALYI also has an ongoing hemp energy storage initiative leading its current efforts to introduce an alternative to lithium batteries.
ALYI Updated Periodic OTC Market Current Information Standard Reporting
ALYI has recently made a change in its OTC Market Current Information Standard Reporting procedures. In addition to requiring quarterly and annual financial reports and certain form disclosures, OTC Market Current Information Standard Reporting requires companies to have a lawyer review a company’s disclosures and publish a letter in the company’s disclosures regarding their findings. The lawyer that has previously conducted this review for ALYI has recently suffered a major health issue and ALYI has had to engage a new lawyer. The unanticipated health issue and the corresponding change resulted in a slight delay in the filing of this required legal letter. The letter is now published and ALYI is again deemed current with its required disclosures by OTC Markets.
Research Report Speculative Buy Rating And $0.09 Target PPS
Goldman Small Cap Research has recently issued a research report update on the Company. The report confirms a ‘speculative-buy’ rating with a target price-per-share of $0.09. The report provides an in-depth overview and analysis of Alternet’s new strategy, new orders, and upcoming milestones. To view the report, along with disclosures and disclaimers, visit https://www.alternetsystemsinc.com/research-update or http://www.GoldmanResearch.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.