Dallas, Texas, July 07 10, 2022 (GLOBE NEWSWIRE) — Alternet Systems, Inc (OTC Pink: ALYI) today announced new developments in the company’s electric motorcycle business that could improve ALYI’s position in merger discussions previously announced and expand ALYI options separately from merger talks.
ALYI is developing plans to adapt the company’s strategy to continue on the path of realizing its vision of the electric vehicle (EV) ecosystem under the conditions presented by the current market.
The initiative to adapt the company’s strategy was first discussed in a letter to shareholders from CEO Randell Torno on May 17e.
The company recently learned that its electric motorcycle taxi strategy may be eligible for a grant from a foreign government. The grant could make the electric motorcycle sector more valuable and open up new options for business development.
ALYI is in talks with a third party to explore a merger of ALYI’s electric motorcycle assets. An NDA has been executed and due diligence is underway.
The company will continue to provide updates as developments occur.
To learn more about ALYI, visit www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. Statements reflect the Company’s current beliefs regarding 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, failure to meet deadlines or performance requirements of the companies’ contracts, the companies’ liquidity condition, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive prices. In light of these uncertainties, the forward-looking events discussed in this press release may not occur.
Alternet Systems, Inc.