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Alternet Systems, Inc. (OTCMKTS: ALYI) Heats Up Fast

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Alternet Systems, Inc. (OTCMKTS: ALYI) is on the move up after the Company announced plans to finalize terms and execute an LOI next week on Tuesday, June 30, 2020 for a $25 million first tranche investment to fund ALYI’s $300 million electric mobility initiative in Africa.

According to the press release the first $25 million tranche is intended to result in a change of control with the investor becoming the controlling shareholder.

Alternet Systems, Inc. (OTCMKTS: ALYI) is a pink sheet stock with $4.8 million in current liabilities which has resulted in significant dilution.

The Company bills itself as 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.

The Company is currently developing partnership opportunities to apply its exclusive lithium technology in military solutions and Electric Vehicle (EV) applications. To this end, the Company has launched a new subsidiary, ReVolt Electric Motorbikes. ReVolt has partnered with a manufacturing company to first produce a motorcycle based on the 1930’s BMW R71 motorcyle with sidecar utilized by the German Army in WW11. The ReVolt Classis Electric Motorbike with Sidecar will be powered by an electric motor utlizing an alternate systems designed lithium solution. Initial production runs and sales in the U.S are expected to occur this year, with future product designs targeting the U.S and emerging markets slated to commence next year.

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ALYI

On June 25 ALYI announced plans to finalize terms and execute a letter of intent (LOI) next week on Tuesday, June 30, 2020 for a $25 million first tranche investment to fund ALYI’s alleged $300 million electric mobility initiative in Africa. The working terms include an approximate $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.

The first $25 million tranche is intended to result in a change of control with the investor becoming the controlling shareholder. A management change is not part of the planned investment. A second tranche at valuation calculated after the first $25 million investment is planned before the end of the year. The planned ALYI investment is one component of an overall $100 million initial cryptocurrency offering (ICO) strategy. ALYI has partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI’s overall $300 million electric mobility project in Africa.

According to the press release “ALYI’s funding partner for the African electric mobility project has already been partitioned on the Ethereum Blockchain. A pre-ICO funding round is underway and ICO details are being finalized.”

Tim Sykes cashed in today:

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Currently on the move ALYI has $57k in the treasury and significant debt with $4.8 million in current liabilities. The Company reported $180,000 in revenues in 2018. ALYI has recently gotten everyone’s attention. In a crazy press release on June 25 the Company stated “plans to finalize terms and execute an LOI next week on Tuesday, June 30, 2020 for a $25 million first tranche investment to fund ALYI’s $300 million electric mobility initiative in Africa. According to the press release the first $25 million tranche is intended to result in a change of control with the investor becoming the controlling shareholder.We will believe it when we see it. We will be updating on ALYI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ALYI.

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Disclosure: we hold no position in ALYI either long or short and we have not been compensated for this article. Dont believe everything a pink sheet company says especially when they are talking millions of dollars because alot of the time it turns out not to be true.

 

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