Alternet Systems Inc (ALYI)

[davidsson10]

ALYI – Alternet Systems Confirms $20 Million Electric Motorcycle Contract With New Update

August 13, 2019 11:29 ET | Source: Alternet Systems, Inc.

DALLAS, Aug. 13, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE - Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today announced the successful wrap-up of the previously announced meetings conducted in Dallas over the previous two weeks with its African production partner. The focus of the meetings was to finalize ALYI’s industrial design specifications plan for the ReVolt Electric Motorcycle to be mass produced for sales in Africa. In April, ALYI announced agreements from Africa worth $50 million. At that time, the company announced a Letter of Intent (LOI) for a ReVolt Electric Motorcycle assembly plant in Kenya that includes an initial $20 million order of 2,000 ReVolt Electric Motorcycles. The company published a presentation following the LOI to further detail the assembly plant LOI and the supplemental aspect of the agreement to create over $50 million in value from the ALYI African strategy and how the African strategy fits into the Company’s overall business plan. The meetings in Dallas were a success. The $20 million contract is on track. The supplemental $30 million opportunity is also advancing. The $30 million in additional revenue potential involves a six-year contract where the $30 million would a recurring annual revenue over the six-year duration of the anticipated contract. Look for more news on this developing opportunity coming soon.