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DALLAS, April 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) has scheduled an online presentation this Thursday, April 18th, 2019 to provide details on the company’s plan to create over $50 million in value from its African strategy. The $50 million in value will be a combination of revenue generation and asset value. Management spent all last week in Kenya working on a combination of business agreements that are all part of one strategy to advance the company’s electric vehicle business in Africa. The company announced on Friday last week, the execution of 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 also announced a second LOI agreement that leads to a potential contract where ALYI secures a leadership role in a global electric vehicle institution that is expected to contribute substantially to the ongoing advance of electric vehicle technology worldwide. The second LOI would also lead to substantial revenue generation in addition to the $20 million order for 2,000 ReVolt Electric Motorcycles. Check back Thursday, April 18th to learn more about how the two LOI’s fit into ALYI’s overall plan to create over $50 million in value from its African strategy.
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.
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.