ALYI News Out! Wow! DALLAS, July 7, 2020 /PRNe
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Posted On: 07/07/2020 11:26:11 AM
ALYI News Out! Wow!
DALLAS, July 7, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today confirmed a $2.5 million prefunding deal in conjunction with a recently announced $25 million first tranche investment at a $50 million enterprise valuation that is anticipated to close within the next 90 days (see more investment details below). The $2.5 million confirmation is made in conjunction with the company yesterday initiating a construction design and engineering engagement that will lead to the development of facilities to host the brand name anchor event to the company's annual electric mobility conference and symposium.
ALYI's $300 Million Sustainable Electric Vehicle Ride-Share Initiative
The electric mobility conference and symposium is one component of ALYI's overall $300 million initiative to introduce electric motorcycles to the ride-share market in Africa. Motorcycles are already widely utilized in the African taxi market and Uber has recently identified motorcycles as growth sector within the ride-share market. ALYI has already designed and piloted a rugged electric motorcycle with side car for the African ride-share market and expects to be in production by year end. The annual electric mobility conference and symposium is designed to both support the overall electric mobility industry in Africa as well as directly facilitating ALYI's overall growth and expansion into new electric mobility sectors. At the same time, ALYI's electric mobility conference and symposium will generate revenue and contribute to earnings.
DALLAS, July 7, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today confirmed a $2.5 million prefunding deal in conjunction with a recently announced $25 million first tranche investment at a $50 million enterprise valuation that is anticipated to close within the next 90 days (see more investment details below). The $2.5 million confirmation is made in conjunction with the company yesterday initiating a construction design and engineering engagement that will lead to the development of facilities to host the brand name anchor event to the company's annual electric mobility conference and symposium.
ALYI's $300 Million Sustainable Electric Vehicle Ride-Share Initiative
The electric mobility conference and symposium is one component of ALYI's overall $300 million initiative to introduce electric motorcycles to the ride-share market in Africa. Motorcycles are already widely utilized in the African taxi market and Uber has recently identified motorcycles as growth sector within the ride-share market. ALYI has already designed and piloted a rugged electric motorcycle with side car for the African ride-share market and expects to be in production by year end. The annual electric mobility conference and symposium is designed to both support the overall electric mobility industry in Africa as well as directly facilitating ALYI's overall growth and expansion into new electric mobility sectors. At the same time, ALYI's electric mobility conference and symposium will generate revenue and contribute to earnings.
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