Alternet Systems Inc (ALYI)

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Dallas, Texas, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Alternet Systems, Inc (OTC Pink: ALYI) today confirmed the previously announced merger and acquisition explorations and discussions are ongoing. An NDA has been executed and due diligence continues.

ALYI Management today also announces that the company has expanded its merger and acquisition business development initiative to include additional candidates.

"Our electric motorcycle taxi agreement is developing nicely and getting some very positive attention of late," said ALYI CEO Randell Torno. "At the same time, we have also been getting some very encouraging attention surrounding our electric vehicle racing initiative. I believe ALYI's posture is well suited for regaining momentum in the electric vehicle market through the adaptation of our strategy in response to the evolving market conditions, and I anticipate our adaption to include a merger and acquisition aspect. Things are moving along. Stay tuned for more to come."

The company will continue to provide updates as developments proceed.

To learn more about ALYI, visit www.alternetsystemsinc.com.