Dallas, Texas--(Newsfile Corp. - July 7, 2020) - Alternet Systems, Inc. (OTC Pink: ALYI) today confirmed a $2.5 million prefunding deal in conjunction with a recently announced $25 million first tranche investment at a $50 million enterprise valuation that is anticipated to close within the next 90 days (see more investment details below). The $2.5 million confirmation is made in conjunction with the company yesterday initiating a construction design and engineering engagement that will lead to the development of facilities to host the brand name anchor event to the company's annual electric mobility conference and symposium.
ALYI's $300 Million Sustainable Electric Vehicle Ride-Share Initiative
The electric mobility conference and symposium is one component of ALYI's overall $300 million initiative to introduce electric motorcycles to the ride-share market in Africa. Motorcycles are already widely utilized in the African taxi market and Uber has recently identified motorcycles as growth sector within the ride-share market. ALYI has already designed and piloted a rugged electric motorcycle with side car for the African ride-share market and expects to be in production by year end. The annual electric mobility conference and symposium is designed to both support the overall electric mobility industry in Africa as well as directly facilitating ALYI's overall growth and expansion into new electric mobility sectors. At the same time, ALYI's electric mobility conference and symposium will generate revenue and contribute to earnings.
Electric Vehicle Ride-Share Sector Breakout
Management today highlighted the overall electric vehicle ride share market breakout that surrounds ALYI's efforts and is in turn contributing to the acceleration of ALYI's business model.
Tesla closed at another record high yesterday and is now valued more than GM, Ford and Chrysler - Even as Uber and Lyft disrupt the transportation sector with the advent of the ride-share model, a new player is now disrupting Uber and Lyft's market dominance. Facedrive has added carbon offsetting to the ride-share model.
ALYI is at the forefront of the sustainable electric vehicle ride-share paradigm shift and management believes ALYI's own sector disrupting differentiators will soon become evident.
ALYI CEO, Dr. Randell Torno, contends that the immediate opportunity for electric powered transportation growth in Africa by far exceeds the electric powered transportation opportunity anywhere else in the world and that the electric mobility technology innovations that will be developed for Africa will ultimately form the foundation of commercial electric powered transportation everywhere. In short, Africa is the global proving ground for electric powered transportation.
ALYI $25 Million First Tranche Investment
The ALYI first tranche $25 million investment is one component of the investor's overall $100 million initial cryptocurrency offering (ICO) strategy. The investor is independently launching an ICO dedicated to funding ALYI's overall $300 million electric mobility project in Africa with future plans to fund additional electric mobility initiatives in Africa. The investor has already partitioned on the Ethereum Blockchain in advance of the planned ICO.
The $25 million first tranche investment is structured at a $50 million pre-money valuation of ALYI in consideration of the company's $300 million electric mobility initiative. The $25 million first tranche investment represents a valuation of ALYI common stock at approximately $0.05 per share.
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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.
Alternet Systems, Inc. Contact:
Randell Torno
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