$ALYI ...Alternet Systems Confirms Lithium Patent Portfolio Exclusive License and Purchase Option Details
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DALLAS, November 16, 2017 /PRNewswire via COMTEX/ -- DALLAS, November 16, 2017 /PRNewswire/ --
Alternet Systems, Inc. (usotc:ALYI) today announced filing its quarterly financial report for the period end September 30, 2017. Management has scheduled a shareholder online presentation for next week, Tuesday, November 21, 2017 to review the quarterly report in more detail. In the course of the most recently reported quarter, Alternet acquired Lithium IP Holdings and changed the nature of the company's business from financial operations to lithium energy solutions integration and development based largely on the company's new portfolio of ten lithium technology patents.
In response to questions received from recent news about Alternet's lithium technology, management confirms the technology was acquired from Air Products and Chemicals, Inc. APD, +0.20% in an exclusive license agreement with an option to purchase. In the shareholder presentation next week, management will elaborate further on the nature of the agreement and how the agreement fits into the company's overall business strategy.
Management will also address the current financial statement and how it reflects the previous financial services business, not the current lithium business, and what changes shareholders can anticipate in future financial statements as old liabilities associated with the previous business are cleaned up and new operating assets are more clearly reflected.
Alternet ' s New Lithium Technology Integration And Development Strategy
Alternet's business strategy is to partner with prominent third parties producing products and services that require stable, safe, long duration power in high impact operating systems. Within such partnerships, Alternet and each partner will together develop an integrated solution that includes a power component based on Alternet's lithium technology. Alternet management has an extensive background in military industrial solutions. The original technology developer did not concentrate on military applications.
The combination of Alternet's military background and high potential of the technology for applicability in military solutions presents a promising partnership development opportunity.
At the same time, Alternet is also developing partnerships separate from the military industrial sector to include the EV and HEV partners.
Several potential partners participated in Alternet's vetting process when identifying and selecting a technology to acquire as the foundation of the company's strategy to bring a stable, safe, long duration power solution to market for high impact operating systems. Partnership announcements are anticipated to be forthcoming soon.
Learn more on the company's website: http://www.otc-alyi.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 Tornoinfo@lithiumip.com +1-800-713-0297 https://www.otc-alyi.com/contact/
SOURCE Alternet Systems, Inc.