ALYI – Alternet Systems Publishes Update On Management Restructuring To Trigger 1000% Revenue Growth
DALLAS, May 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today published a management update highlighting the company’s management restructuring plan within a strategic partnership designed to trigger 1000% revenue growth. The company has recently announced a number of developments regarding major business developments to advance its electric vehicle production and sales in Africa that could take the company from its roughly $250,000 in annual revenue and recently signed $2 million in orders to over $20 million in annual revenue. The management update detailing the latest developments to advance this 1000% revenue growth opportunity are included below.
ALYI Management Update May 30, 2019
In the first quarter of 2019, ALYI signed $1.5 million in orders for its ReVolt Electric Motorcycles in Africa. The company has $2 million in orders for its electric motorcycles overall. The company is also developing an opportunity to assemble its electric motorcycles in Africa in conjunction with a $20 million order for the ReVolt Electric Motorcycles. The management restructuring announced today includes a management swap with a partner company key to the ALYI opportunity in Africa. The management restructuring is designed to trigger bringing to fruition the initiative in Africa that would rapidly increase ALYI’s orders from $2 million to over $20 million.
Randell Torno is the CEO of ALYI. The President of the ALYI subsidiary Lithium IP Holdings is Ed Bollen. Mr. Torno and Mr. Bollen bring extensive experience within the government market sector to include both the U.S. and foreign governments. Both have worked extensively together on pervious projects. Of particular relevance to ALYI, both have extensive experience in Africa.
Mr. Torno at this time is also the CEO of a second public company that concentrates on industrial and socially responsible initiatives in Africa. Restance, Inc. (USOTC: ANCE) currently concentrates its primary business development efforts in Kenya. ANCE played a key role in developing critical business relationships on ALYI’s behalf for the ReVolt Electric Motorcycle assembly operation and corresponding $20 million contract in Africa. To further accelerate business development for both ALYI and ANCE both, Mr. Torno and Mr. Bollen have agreed to divide and conquer. Mr. Torno will remain as the CEO at ALYI and relinquish his role at ANCE to Mr. Bollen. From here forward, Mr. Bollen will take up the reigns as CEO of ANCE.
ANCE plans to soon issue its own independent update. ANCE’s role to date has been quiet as ANCE otherwise endeavored to work through a public disclosure challenge. ANCE’s reporting was been encumbered over a year ago . In spite of the company’s best efforts, the disclosure issue has not yet been resolved. Management speculates that scrutiny on penny stocks market-wide has resulted in increased bureaucracy that has in turn resulted in a backlog of disclosure procedures through historically customary channels. In turn, management suspects that this backlog has bogged down the resolution of ANCE’s disclosure issue. In conjunction with the management restructuring announced today, ANCE plans to work around the disclosure impasse by introducing its own self disclosure website where it can publish current information important to supporting investment decisions. ANCE anticipates having the new site up within the next two weeks. The site will include, among other information, current capital structure details and financial reports, management information, news, research and stock quotation. At the same time, ANCE will continue to work to resolve the disclosure issues through customary channels.
The two companies, ALYI and ANCE will be working closely together on the African front. The management restructuring and strategic management swap announced today is anticipated to accelerate numerous business initiative developments for both companies.
About Alternet Systems
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.
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Alternet Systems, Inc. Contact:
Randell Torno
