ALYI – Alternet Systems Confirms $20 Million Electric Motorcycle Contract With New Update

DALLAS, Aug. 13, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE - Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today announced the successful wrap-up of the previously announced meetings conducted in Dallas over the previous two weeks with its African production partner.  The focus of the meetings was to finalize ALYI’s industrial design specifications plan for the ReVolt Electric Motorcycle to be mass produced for sales in Africa.  In April, ALYI announced agreements from Africa worth $50 million.  At that time, the company announced 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 published a following the LOI to further detail the assembly plant LOI and the supplemental aspect of the agreement to create over $50 million in value from the ALYI African strategy and how the African strategy fits into the Company’s overall business plan.  The meetings in Dallas were a success.  The $20 million contract is on track.  The supplemental $30 million opportunity is also advancing.  The $30 million in additional revenue potential involves a six-year contract where the $30 million would a recurring annual revenue over the six-year duration of the anticipated contract.  Look for more news on this developing opportunity coming soon.

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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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Randell Torno