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Replies to post #3738 on Alternet Systems Inc (ALYI)
lesgetrich
07/01/19 9:53 AM
#3741 RE: alexbh2285 #3738
There is no factory asset nor extra cash with this dilution. It would be on the 3/31 balance sheet.
DALLAS, March 28, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today confirmed management will meet prospective partners and tour facilities in Kenya for a potentially assembly plant to complete manufacturing in Africa for ReVolt Electric Motorcycles to be sold on the continent.
In the first quarter 2019, $233,814 of one of the convertible notes was converted to 56,906,850 shares of common stock.
NOTE 7 - THIRD PARTY CONVERTIBLE LOANS Upon completion of the acquisition of Lithium IP Holdings Corporation, (LIPH), the Company entered into 2 convertible notes totaling $250,000, to replace notes of LIPH. The notes carry an 8% interest rate and mature on January 4, 2018. The notes are convertible at a 50% discount to the lowest trade price during the 20 days immediately preceeding the conversion.