ALYI One Key Step Closer To $100 Million Investment
28 August 2020 - 5:16AM
ADVFN Crypto NewsWire
Dallas, TX -- August 27, 2020 --
InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today announced the company’s funding partner,
RevoltTOKEN (www.revolttoken.com) will present a
comprehensive update next Wednesday, September 2, 2020 on the $100
million transaction intended to fund ALYI’s electric mobility
business. RevoltTOKEN has just secured the last key component
necessary to proceed with the funding
transaction.
ALYI has entered
into a comprehensive funding agreement with RevoltTOKEN that
includes an existing $25 million first tranche investment
commitment at $0.05 per share. ALYI has initiated a $2.5
million draw down on the first $25 million to begin construction on
a 100-acre facility in Africa. Overall, RevoltTOKEN intends
to invest $100 million in ALYI in conjunction with an
independent initial cryptocurrency offering (ICO).
RevoltTOKEN has already partitioned a cryptocurrency on the
Ethereum Blockchain in advance of the planned
ICO.
Earlier today, ALYI announced that it
expects a new fleet order for its ReVolt Electric Motorcycle to
double the company’s current production outlook. Earlier this
month the company announced entering into discussions regarding
additional fleet orders. Management now expects to sign an order
resulting from those discussions by the end of
September.
ALYI currently has already entered into an
initial $20 million electric motorcycle order and an additional
letter of intent for a $30 million contract. Both agreements cover
six-year durations resulting in an overall $300 million revenue
opportunity for ALYI. The new order expected to be signed
next month would edge ALYI toward a $500 million revenue
opportunity.
Over two years ago, ALYI piloted an
electric motorcycle that in its first rendition was a BMW R71 clone
retrofitted with an electric motor. The BMW R71 is a
breathtaking iconic image popularized through decades of frequent
Hollywood screen appearances in addition to the real engineering
breakthroughs that maintain the bike’s
relevance.
Still drawing on the BMW R71 original
design and look, after several design iterations, the ReVolt
Electric Motorcycle today is an innovation feat. When ALYI unveils
the production version of the ReVolt Electric Motorcycle, it will
be an industry changing event. The ReVolt Electric Motorcycle
is a connected, state of the art electric motorcycle, ergonomically
optimized for its target market while still maintaining an iconic
look.
ALYI expects to be in production later
this year.
For more
information and to stay up to date on ALYI’s latest developments ,
please visit: http://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.
Alternet
Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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