DALLAS, April 20, 2021 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today released a management update in conjunction with the recently published FY2020 Annual Report.
Alternet Systems (ALYI) is engaged in the development of an Electric Vehicle (EV) Ecosystem intended to facilitate a perpetual cycle of research and production for electric powered transportation technology to include the simultaneous evolution of transportation systems surrounding emerging EV technology.
The ALYI EV Ecosystem is centered on the rollout of an annual EV Symposium and Trade Show with an anchor, brand name Electric Auto Race. ALYI expects the brand name race event to attract leading EV technology and transportation system experts to the Symposium and Trade Show to participate in the EV Ecosystem.
The founding EV Ecosystem Focus and Trade Show Location is in Nairobi, Kenya with the intention of capturing the creative EV innovation opportunity, and economic potential that coincides with a region where per capita transportation is very low.
2,000 ALYI Rideshare Electric Motorcycles In Africa
ALYI has already kick started its EV Ecosystem with the introduction of an electric motorcycle prototype expected to be the foundation of an initial order of 2,000 electric motorcycles in Africa to serve the evolution of the existing motorcycle taxi (boda boda) market into a full service, communication technology enabled, rideshare market including digital payments.
ALYI Retro Revolt Electric Motorcycle
The popularity of ALYI's electric motorcycle prototype has resulted in the introduction of the Retro Revolt Electric Motorcycle to be sold in North America on a limited basis as part of a market awareness campaign bringing attention to ALYI's overall strategy to make an environmental impact through the carbon emission reduction potential coming from the market wide adoption of electric vehicles.
ALYI Sustainable Operations Strategy
ALYI has implemented a business operating strategy emphasizing long-term sustainability that can carry the company through however long it might take to build and launch its EV Ecosystem, Symposium and Tradeshow, and rideshare electric motorcycle.
Early-stage business development is often unpredictable and frequently takes longer and costs more than anticipated.
Based on ALYI's veteran, start-up management experience, ALYI has implemented an operational strategy that mitigates early-stage operational expenses by maintaining coincidental services contracts that generate revenue.
A review of ALYI's recent Annual Report for FY2020 demonstrates the company's staying power to go the distance toward reaching its new EV sector paradigm goals. Base operations are keeping financial commitments in check enabling the company to sustain sufficient momentum in the pursuit of its EV Ecosystem vision.
ALYI Cryptocurrency Strategy - Revolt Token Progress And Updates
The advance of ALYI's EV Ecosystem vision inevitably requires new investment beyond the company's ability to sustain operations through coincidental service offerings.
ALYI has accessed investment to advance its EV Ecosystem in the past through investment structures the leverage the company's common stock. Recently, the company has introduced a new investment structure that draws on a cryptocurrency strategy.
Last year ALYI established a partnership with a financing initiative dedicated to funding ALYI's EV Ecosystem. Earlier this year, RevoltTOKEN, ALYI's finance partner launched Revolt Token's for sale.
Currently Revolt Token's are for sale directly from RevoltTOKEN (www.RevoltToken.com). The funds raised are dedicated to funding ALYI's EV Ecosystem and providing buyers with an opportunity to participate in the ALYI EV Ecosystem.
The Revolt Token opportunity is growing and evolving. Currently, Revolt Tokens can only be purchased in exchange for other cryptocurrencies or in exchange for funds delivered via a wire transfer.
RevoltTOKEN management indicates that soon Revolt Tokens will be available for purchase via a credit card transaction.
RevoltTOKEN management further indicates that the Revolt Token Know-Your-Customer (KYC) registration process that currently takes hours, and sometimes more than a day, will soon be paired down to an automated process that can be completed in minutes, if not seconds.
RevoltTOKEN management is also nearing the listing of Revolt Tokens on more than one cryptocurrency exchange. Soon, Revolt Tokens will be eligible for sale through one or more cryptocurrency exchanges. Likewise, Revolt Tokens will be eligible for purchase through sources other than RevoltTOKEN.
Revolt Tokens remain eligible for purchase now, prior to its cryptocurrency exchange listing.
Revolt Tokens may be purchased via wire transfer or in exchange for other cryptocurrencies.
Soon, Revolt Tokens will be available for purchase via a credit or debit card transaction.
Learn more at www.RevoltToken.com.
Recent $1 Million Raise At $0.10 To Fund EV Ecosystem Investment And Expansion
The FY2020 Annual report includes the disclosure of a new agreement ALYI executed the week before last 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 a video demonstrating the company's first electric motorcycle intended to highlight ALYI's overall electric vehicle ecosystem business plan. Further opportunities are under development and shareholders can anticipate hearing more soon.
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:
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.
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SOURCE Alternet Systems, Inc.