ALYI Annual Report Discloses $1 Million Raise At $0.10 To Fund Strategic EV Expansion
17 April 2021 - 12:51AM
InvestorsHub NewsWire
Dallas, TX -- April 16, 2021 --
InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today confirmed a management update to be released next
week on Tuesday, April 20, 2021 to review the recently published
FY2020 Annual Report.
The update will cover the latest progress
on the company’s Electric Vehicle Ecosystem and include an excerpt
from ALYI finance partner RevoltTOKEN on the latest progress with
the ongoing rollout of their cryptocurrency, Revolt
Tokens.
ALYI Secures New $1
Million Investment To Fund EV Ecosystem
Expansion
The update next week will highlight a new
agreement ALYI executed just last week 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 will be covered in the coming management
update.
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:
www.RevoltToken.com
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.
Alternet
Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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