Alternet Systems Inc (ALYI)

[alexbh2285]

You can never prove a scam until someone confesses just like you can’t prove that I haven’t invented a flying car or that I have not bred a talking cat (I can’t yet show you it flying or the cat talking as it’s a company secret) but with a huge preponderance of evidence including being run by three people who have created at least three scams (ANCE, PJET and CIAU) you can say it’s a scam unless you’re willing to invest in Bernie Madoff’s new hedge fund thinking “maybe he won’t cheat me the fourth time.” Randy could provide more proof that it’s not but instead he refuses to disclose important partners, continues to miss deadlines, continues massive dilution, PRs upcoming PRs that all always disappointing and /or ridiculous and continues to issue financial statements that can not possibly be real (as explained below).
More major fraud flags than any company I have ever seen. Accounts receivable growing with no increase in cash - one of the most common fraud flags. Revenues from least 2 years without any payment (and some of the work was COMPLETED at least two years ago or they could not book them according to standard revenue recognition and ALYI’s own policy.). The value of the digital currency Ven remained constant once again despite being a digital currency that fluctuates versus the dollar. Impossible. CEO Randy Torno doesn’t have ALYI on his LinkedIn page just like Alex Wash doesn’t list that he was CEO of LEXG for years on his LinkedIn page. Instead Torno only lists his current work with an international consulting firm and probably (this part is my guess as to why but what other reason would he have to hide what is supposedly his MAIN JOB?) hides his ALYI involvement due to his real job’s strict ethics policy (that is not supposition - they have a huge focus on ethics and compliance). Randy Torno went silent after he promised a large Kenya contract that never happened while at ANCE (sound familiar?). The fact that Randy was the only board member of PJET which had a full time college student as the CEO (again not on his or Yasmine Acebo’s LinkedIn profiles) while he gave it away for literally nothing and went silent. The fact that he, even for a short period of time, PR’d a potential partnership with LEXG which the least amount of due diligence would have revealed was a fraud prior to issuing these PRs. The ICO is particularly funny - $100MM !The first $2.5mm is being used to build a conference center is bizarre. That the ICO research was performed by paid for pumper Rob Goldman. It was supposed be pre-funded in September which never happened. Paying for PRs and paid research when they supposedly already have $100MM of funding lined up. Why does it take so long to go from PR to LOI to funds? It’s not like they are re-inventing contract law. How good is the intent of milestones and details are so unresolved? Being run by one part time CEO with no technical skills, one (non technical) design partnership, and one fundraising (no marketing or technical skills) consultant, the misrepresentation of Professor Mitlin’s role in the technology, the hinting that ALYI was partnered w a major company when it turned out that will be, in some way, for a conference not for product, the amount of time required for the US and Africa contracts (yes US contracts are also still promised just not retail) but to come to fruition, the assumption that anyone would invest or order from a company with no financial or engineering resources (despite Randy saying companies needed product immediately in just in time delivery), the fact that they fund via dilution to 1.5 billion shares and an ICO scam rather than legitimate venture capital or partnering. The unauthorized use of Steve McQueen and then keeping up unlicensed pictures of Conan O Brien and Johnny Deppy riding aural sand Harleys to make it look like they own something ALYI built and keeping that site up to make it look like they are still planning to sell retail (they are not - that plan made the time window to easily fact check the fraud too soon), and the fact that Randy says ALYI needs “just in time” manufacturing when the alleged buyers are obviously willing to wait years to buy from a company with no workers, no financial resources, and no technology (no patent assets on the balance sheet - they dropped these years ago when the couldn’t afford to pay Air Products the licensing fee - google the patent numbers in their disclosure which they never update including saying Randy is “expected” to get his PhD in 2017). No shareholders agreement, no board for oversight, only one controlling vote holder via preferred shares all to allow unlimited dilution without a vote.

Henryk Dabrowski is leading the ICO for ALYI’s P.R.

https://ih.advfn.com/stock-market/USOTC/alternet-systems-pk-ALYI/stock-news/82913090/alyi-introduces-100m-revolttoken-ico-to-expand-el

After having been CEO at ALYI with the stock going nowhere, Henry joined CIAU to lead their cryptocurrency efforts (and notice this beauty in the link below about his accomplishments at at ALYI - thankfully the LEXG partnership didn’t go anywhere since too many people knew LEXG was a scam) “Mr. Dabrowksi Comes To CIAU As ALYI Enters Into Deals With USMJ and LEXG”

https://www.google.com/amp/s/markets.businessinsider.com/amp/news/Ciao-Group-Names-Henryk-Dabrowski-from-Alternet-Systems-to-Lead-Cryptocurrency-Initiative-to-Include-Bitcoin-and-Blockchain-Solutions-1002070478

While at CIAU they announced an ICO “backed by stocks of a $530B African Market Capitilization” (sound familiar?)

https://www.otcmarkets.com/stock/CIAU/news/Ciao-Group-Announces-Investment-Token-Backed-By-530-Billion-African-Financial-Market?id=166976

Then the SEC temporarily suspended CIAU for the ICO

https://www.google.com/amp/s/www.crowdfundinsider.com/2017/08/120619-sec-suspends-trading-ciao-group-advance-ico/amp/
https://corpgov.law.harvard.edu/2017/10/30/sec-enforcement-against-initial-coin-offering/

But after the suspension, plans for the ICO were cancelled, management never issued more disclosure or filings and CIAU remains skull and crossbones

https://www.otcmarkets.com/stock/CIAU/overview

The chart looked so good up until the ICO fizzled!
See the last five years - ICO was pitched in 2017.
https://finance.yahoo.com/quote/ciau/