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We are supposed to believe that legitimate customers are willing to both wait forever for their orders and risk their business plan by ordering from a debt laden company with no experience or resources and a manufacturing plan that depends upon a $100MM ICO launch.
Keep in mind, ALYI has already sourced investment to fund the company’s current plans for producing electric vehicles in Africa. The proposed $100 million investment would substantially permit ALYI to expand upon and accelerate its current plans, but by no means is ALYI dependent upon the proposed cryptocurrency investment strategy.
The company successfully passed an electric motorcycle prototype testing milestone recently and anticipates having its production design pilot motorcycle completed any day. The production design plans have already been approved by partners, vendors and clients. Management plans to produce and publish a short video of the production electric motorcycles once the production version is finalized.
ALYI and IW Global have formulated a plan whereby, ALYI's production and marketing partners in Kenya will form a new company (NewCo) with the specific focus of building a new, state of the art electric vehicle production plant. This NewCo will be a separate company apart from ALYI but exclusively contracted by ALYI for producing ALYI designed vehicles. The NewCo is the business entity that would initiate the proposed ICO. The funds would be dedicated to 1. Building the plant and 2. Funding the production of ALYI's vehicles. A successful ICO would permit ALYI to substantially accelerate and expand upon its initial $300 million in existing electric vehicle projects.
The trading range has been between $.0003 and $.0005 for over a week, yet very few shares have actually traded below or above $.0004. Everyone has been loading up at $.0004. I just bought another 1.25 million shares today at that price. Out of 9.7 million shares traded so far today only 78,000 shares changed hands at $.0003 and 10,000 at $.0005. This has been the typical pattern for the past week. I think we're poised for a reversal.
New PR today...
ALYI - Alternet Systems Announces $100 Million Cryptocurrency Investment Strategy to Expand Electric Vehicle Production Capacity
DALLAS, Oct. 28, 2019 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced the latest developments surrounding a $100 million cryptocurrency investment strategy targeted at expanding the company's existing $300 million in electric vehicle projects in Africa.
IW Global has proposed launching and managing an Initial Coin Offering (ICO) on ALYI's behalf specifically targeted at raising $100 million to fund infrastructure for electric vehicle production in Africa.
IW Global (www.IW-Global.com), a well-established technology firm with a wide breadth of experience spanning projects for NASA and more recently implementing multiple blockchain solutions, has proposed launching and managing an Initial Coin Offering (ICO) on ALYI's behalf specifically targeted at raising $100 million to fund infrastructure for electric vehicle production in Africa.
ALYI continues to develop $300 million in electric vehicle projects in Africa targeting the shared ride market and recently confirmed a fleet order for an initial 50 electric motorcycles to be delivered in Texas. The company successfully passed an electric motorcycle prototype testing milestone recently and anticipates having its production design pilot motorcycle completed any day. The production design plans have already been approved by partners, vendors and clients. Management plans to produce and publish a short video of the production electric motorcycles once the production version is finalized.
ALYI and IW Global have formulated a plan whereby, ALYI's production and marketing partners in Kenya will form a new company (NewCo) with the specific focus of building a new, state of the art electric vehicle production plant. This NewCo will be a separate company apart from ALYI but exclusively contracted by ALYI for producing ALYI designed vehicles. The NewCo is the business entity that would initiate the proposed ICO. The funds would be dedicated to 1. Building the plant and 2. Funding the production of ALYI's vehicles. A successful ICO would permit ALYI to substantially accelerate and expand upon its initial $300 million in existing electric vehicle projects.
ALYI has engaged legal counsel to ensure the cryptocurrency launch would be executed in compliance with prevailing regulatory guidelines.
ALYI has engaged Goldman Small Cap Research to conduct a survey with first time and experienced cryptocurrency investors in conjunction with a potential $100 million initial coin offering (ICO) that would provide strategic financing to fund a major expansion of the company's electric vehicle developments.
Ethereum is the proposed underling platform for the ALYI cryptocurrency launch.
The Ethereum platform and blockchain is the most reliable existing blockchain and is supported by the Ethereum Foundation, based in Zug, Switzerland and the Ethereum Enterprise Alliance based in the USA with members like Microsoft, Intel, Mastercard, UBS, BBVA, Banco Santander, among others. IW Global is experienced with Ethereum and has launched previous cryptocurrencies build on the Ethereum platform.
ALYI management plans to publish continued progress reports as the ICO strategy develops.
For more information, please visit: www.alternetsystemsinc.com.
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
info@lithiumip.com
+1-800-713-0297
Cision View original content:http://www.prnewswire.com/news-releases/alyi--alternet-systems-announces-100-million-cryptocurrency-investment-strategy-to-expand-electric-vehicle-production-capacity-300946181.html
SOURCE Alternet Systems, Inc.
Do you have any links showing over 2 billion shares OS? This isn't a verifiable fact.
You're misinterpreting this. It's not saying what you think it is. Your quote is standard language on financial reports and merely confirms that the company doesn't have any "Off Balance Sheet" arrangements which would distort their liabilities. From Investopedia...
Understanding Off-Balance Sheet Financing
Off-balance sheet (OBS) financing is an accounting practice whereby a company does not include a liability on its balance sheet. It is used to impact a company’s level of debt and liability...
...Common forms of off-balance sheet financing include operating leases and partnerships. Operating leases have been widely used, although accounting rules have been tightened to lessen the use. A company can rent or lease a piece of equipment and then buy the equipment at the end of the lease period for a minimal amount of money, or it can buy the equipment outright. In both cases, a company will eventually own the equipment or building. If the company chooses an operating lease, the company records only the rental expense for the equipment and does not include the asset on the balance sheet. If the company buys the equipment or building, the company records the asset (the equipment) and the liability (the purchase price). By using the operating lease, the company records only the rental expense, which is significantly less than the entire purchase price and results in a cleaner balance sheet.
Partnerships are another common OBS financing item, and Enron hid its liabilities by creating partnerships. When a company engages in a partnership, even if the company has a controlling interest, it does not have to show the partnership’s liabilities on its balance sheet, again, resulting in a cleaner balance sheet.
These two examples of OBS financing arrangements illustrate why companies might use OBS to reduce their liabilities on the balance sheet to seem more appealing to investors. However, the problem that investors encounter when analyzing a company’s financial statements is that many of these OBS financing agreements are not required to be disclosed, or they have partial disclosures. These disclosures do not adequately reflect the company’s total debt.
I have been scammed by quick talkers so I learned very quickly to sift through BS and always think critically. What the hell is so bad about that?
They can't just be called on the phone for input and advice. UNLESS they are formally brought in again as a consultant.
That's good info. It would be nice, however, if you could offer some supporting evidence besides your word. I'm not saying this is the case here but I've seen trolls make similar claims that later proved to be false. Nevertheless, I'll assume you're right. My next question would be, what are they doing about it and what will it take to fix the problem. Is it a simple fix that will take a couple weeks or are we looking at several months delay? We need more context.
Saying I'm spreading false info doesn't make it so. It's your opinion. Show us your proof. Check out the rules regarding insiders and insider info. I have, and I have shown you the proof! You haven't! I've signed many NDA's in my career. Have you? I've been considered an insider with access to insider information for hundreds of companies. Have you? ...and you say I'm dangerous. SMHLMAO
Again, your expressing an opinion as fact. There are a lot of things that can be discussed without revealing non-public information (e.g. What kind of person is the CEO of XYZ Corp? Would XYZ Corp be interested in our technology? etc.). If you need to discuss something non-public you can always have them sign an NDA (Non-Disclosure Agreement) and/or hire them as a consultant. Moreover, it's very likely that anyone who leaves the company is already operating under an NDA. A Director can't just leave a company and start disclosing inside information. There's no reason that someone from the company can't discuss inside information with an ex-employee if they are still under an NDA. From Investopedia...
What Is Insider Trading and Is It Illegal?
An insider is someone with either access to valuable non-public information about a corporation or ownership of stock equaling more than 10% of a firm's equity.
Insiders are legally permitted to buy and sell shares, but the transactions must be registered with the SEC.
I don't have the opinion that InMed or any other company can do no wrong. I just come at things from a different perspective. While you question everything positive about a company, I recognize that there are a lot of players out there who are offering less than honest criticism, often with little more evidence than their opinion. You say you point out things that don't "look of feel right". That's great. But if that's all the evidence you have, don't expect that people should buy your opinion without any pushback, or that people that question you are "pie in the sky" folks who think the company can do no wrong. Let's debate the facts and be clear when all you're offering is a negative opinion presented like a fact.
One other point here. People may formally leave the company but they're still only a phone call away if their input is needed. As major shareholders I'm sure they wouldn't refuse any reasonable requests.
Sorry to disappoint you but I'm not a cult follower of personalities or analysts. I look at the content of an article and rarely note who wrote it. You posted a name and it's your responsibility, not mine, to make sure your readers know who that is or provide a link to the source.
They all collected a ton of stock and moved on. I don't see that they've sold any shares so they still seem to have faith in the company. People move on for various reasons, retirement, health, personal family issues, etc. You can't expect anyone to stay around forever. It's likely that many of their contacts have already been introduced to the company and will continue to be of value.
While the drug trial schedule has been recently clarified I don't agree that there's been an actual setback (we now know more about the length of each trial phase). In the past six months, the only insider transactions have been acquisitions by Coldwell and Mancini (I don't see anyone "ditching out"). We don't know what the story is on the "patent abandonment". The report is that it was a mistake (or perhaps it was replaced by an updated patent). The share price has actually been trading in a range of roughly $.20 to $.30 since around June 1. Pharmaceutical startups typically fish for money at these conferences. Why do you think they're held. It's par for the course and there have been updates to the presentation with each iteration as they make progress on their business plan. So yes, I'm always disappointed things don't move faster but so far it's just fine. I see no reason to panic.
Transparency is nice, but get real. There's no responsibility for a company's management to publish a mistake that might be misinterpreted and drive down the share price. Management of any company has a fiduciary responsibility to shareholders to maximize the company's share price. They don't have a responsibility to disclose things that could drive down the share price except when regulations require disclosure. This is true of any company. Your kind of transparency doesn't exist and investors (as opposed to flip traders and shorters) should appreciate that.
Who's Max Jacob? Do you have a link?
Scams don't post $7 million/yr in revenue.
It would make sense that they would abandon the patent for a multi-cannabinoid treatment if they are now focused on a single cannabinoid treatment. I don't see an issue here.
Things were tracking pretty close to projections until the construction lawsuits in Nevada hit them. My last communication with Paul indicated that they centered around the fact that the Greenhouses Sassano ordered from China wouldn't pass US inspection standards. Things went downhill from there. We still don't know the full story of what happened with FarmOn. Hopefully mCig can still turn things around. Just have to wait and see.
They actually recorded $7 million+ revenue for 2018 before things fell apart, and they didn't fall apart for any of the reasons you and your friends gave and were debunked for.
There may have been a contractual bind but that is entirely different from an accounting "bind". Nothing is real in accounting until money changes hands or property changes hands. The 10-Q is an accounting document. The requirements for the 10-Q and 10-K are accounting requirements. The company fulfilled all of the requirements for their 10-Q. All of the information investors needed to know were available in the 8-K's and 10-Q. If you think they did something wrong it's only your opinion. Prove where they violated the rules.
What exactly is the difference between a sale and a sales order other than one is the act and the other is the piece of paper? SMHL
They are mentioned. Keep in mind that the last 10-Q covered the financial period through 6/30/19 and was published on 8/14/19. At that point, no money had yet been earned from those agreements so there was no further disclosure requirement. As you pointed out, the agreements and projected revenues were previously properly disclosed via their 8-K's. See page 30...
SIML 2FQ19 10-Q
On March 29, 2019, the Company and its subsidiary, Proscere Bioscience Inc., entered into an Exclusive Distribution Agreement with Brand House Ventures Inc. allowing the rights to sell the CBD Cold Water Extraction Systems within all of the United States. Mike Mulder is the President of Brand House Ventures Inc., and the company was formed in 2010 as a sole proprietorship, and in 2014 was formed as a California S-Corporation. Today Brand House is a Holding Company for the distribution of a variety of products and technologies.
On March 29, 2019, the Company and its subsidiary, Proscere Bioscience Inc., entered into a Distribution Agreement with United Opportunities, LLC allowing the rights to sell the CBD/HEMP Cold Water Extraction Systems within Canada and Europe. Shawn Illingworth is the Managing Partner of United Opportunities, LLC, and the company was formed in 2017 in overseeing the purchases of multiple cannabis farms in the Humboldt, Adelanto, Needles, Nipton, Cal City, and Searchlight areas of California and Nevada. The company currently cultivates medical grade crops on a grand scale and supply product to all the major manufacturers and extraction companies in the industry. Future plans are to expand the company and distribute internationally through attaining cultivation centers in Canada, Europe and Australia. United Opportunities is currently opening an office and showroom in Las Vegas, NV which will round out its current operating platforms in New York, Florida, and San Diego, California.
Then they lied about receiving $20M in sales of extractors in in the 1st half of 2019, didn't they. Oooo, that's not good. They'll have to pay for that.
There being any difference between sales and revenues is all just semantics.
What do ya wanna bet that at least that $20M shows up on their income statement on the Q3 report? Maybe more. Remember Q reports aren't audited.
Clarification on CBD Extraction System Purchase Orders and Delivery
The company received purchase orders from United Opportunities LTD on May 28, 2019 and July 31, 2019 in the amounts of $2,880,000 and $16,945,668 respectively.
The company received a purchase order from Brand House Ventures Inc. on July 10, 2019 in the amount of $4,320,000.
The company is manufacturing the systems in Grass Valley, California in order to maintain quality assurance. Each system requires a 50% deposit upon successful on-site inspection, C1D1 Certification Approval, platform design needs, and process specifications based upon a needs assessment. This process can take 90-120 days depending upon State and County regulations.
Currently, the company anticipates manufacturing and delivery on or before December 15, 2019.
I didn't leave a message. If they didn't respond it wouldn't prove anything, if they did respond, they couldn't/wouldn't tell me more than what they've already made public.
That says nothing about being able to build multiple systems at the same time.
Clarification on CBD Extraction System Purchase Orders and Delivery
The company received purchase orders from United Opportunities LTD on May 28, 2019 and July 31, 2019 in the amounts of $2,880,000 and $16,945,668 respectively.
The company received a purchase order from Brand House Ventures Inc. on July 10, 2019 in the amount of $4,320,000.
The company is manufacturing the systems in Grass Valley, California in order to maintain quality assurance. Each system requires a 50% deposit upon successful on-site inspection, C1D1 Certification Approval, platform design needs, and process specifications based upon a needs assessment. This process can take 90-120 days depending upon State and County regulations.
Currently, the company anticipates manufacturing and delivery on or before December 15, 2019.
The next 10-Q will be through 9/30/19. We might be surprised, but no one is expecting significant revenues from extraction until at least the 4FQ19 10-K (annual report thru 12/31/19). We should see some deposit funds by then if not sales revenue.
How about this PR from Aug 1, 2019...
SIML Proscere Bioscience Receives $16M CBD Order on New Hybrid System
Mr. Hylen further stated, “Mr. Michael Mulder, President of Brand House Ventures, Inc., had a tour of our manufacturing facilities in Grass Valley this week to better understand the hybrid system for his customers. He toured our manufacturing and assembly facilities as well as enjoyed seeing how the hybrid extraction system performs. Our distributors and strategic partners are part of a vast cannabis network of cannabis growers throughout the world seeking technology like ours in order to process cannabis faster and more efficiently.”
Unlimited amount of shares for sale at 5s. This will never move up lol
I dialed 1-800-713-0297 as published on their last PR and received a call forwarding mailbox which allowed me to leave a message. Nothing unusual about that, particularly since management may be spending a lot of time globetrotting around Africa and the US. They're not required to share their cell numbers with shareholders and if they do contract manufacturing, there's no need or requirement to publish the numbers of their manufacturing contractors. If they spend most of their time on the road, as seems to be the case, they have little need for an office outside their homes. I'm not sure I buy that there's a significant problem here.
LMFAO I stand by every one of those debunkings. We still don't know what happened with FarmOn Foundation. None of those debunkings anticipated that they would ruin the entire crop or sue mCig to get out of their contract. No one that ever criticized mCig anticipated that result. The arguments against mCig were spurious and none of them predicted what actually happened.
I have never received a penny from mCig. Who are you paid by?
The only thing to consider is that there are no accounting police .. so a company can say whatever they want..
My guess (and it's nothing more than that) is that your estimate of 1.2 billion shares actually seems pretty rational based on the outstanding convertible debt that we know about. I thought you were projecting something much higher and I'm glad you clarified it. I would not be surprised at an OS between 1 and 1.5 billion. I just see some people claiming we're at 5 to 10 billion OS or about to get there and I had to object. Sorry if I mistakenly put you in that category.
I don't see any RS in the future unless their revenue estimates are totally fake (which I don't think is the case). With that kind of revenue they will either grow into the larger OS or they could easily do a share buy back to restructure. BTW, I have a securities license so I do know a little about what I'm talking about.
That is why SIML management has 'gagged' the TA... the Transfer Agent is the only 'true' source shareholders can use to spot dilution.
SCAMS always do that!
I don't doubt that there's been some conversion of toxic debt and dilution. I just doubt that it's been as much as some people are projecting or that anyone can accurately determine the OS.
We're talking about toxic convertible lenders.
Often, officers of small companies are reluctant to communicate directly with shareholders for fear of disclosing inside information. They may also view it as a low priority and not worth their time to respond to every call/message they get from individual retail investors.
LOL That's not a partner. Torno just happened to be interviewed along with the CEO of the Africa Development Organization, Libasse Diop Dia. They are a government organization that promotes investments in Africa, not a customer and the point of the interview was to discuss investments in Africa. From the PR...
The company recently an announce a Research Analyst Report update published by Goldman Small Cap Research in conjunction with a podcast interview of CEO Randell Torno with the CEO of the Africa Development Organization, Libasse Diop Dia.