Last week, Alternet Systems, Inc. (OTC: ALYI) announced in a management update that it expects an investment of $25 million in the first tranche. The terms of employment include an estimate of about $50 million in pre-money. The details included a clarification on the structure, which is a $300 million project led by ALYI to fund electric mobility in Africa. The purpose of the first tranche is for the investor to emerge as controller of the shares.
ALYI also announced that it was going to draw up a letter of intent (LOI) with the financing partner. The financing partner has already been divided into the Ethereum Blockchain. The declaration was expected to be finalised on 30 June. It’s now clear that the aim is to complete and implement by the end of today. In cooperation with an independent company, coverage of the project is being sought by using a crypto-currency offer (ICO). This must be at least $100 million of the project injection.
Clarification about the strategy of the project
The strategy includes the company’s own ReVolt electric motorbike which is intended for commercial production after all. The model has passed the initial design requirements, so it will not be long before the final product is ready to be launched on the market. The reason to focus on motorbikes is because in developing economic regions such as within the continent of Africa, the (motor-) bike is still the most important means of transport. It concerns both retro-classical designs and motorbikes that are functional for light goods transport (possibly with sidecar). 130 million new motorbikes a year generate an annual turnover of $120 billion. As several economic regions in Africa continue to develop well, the demand for motorbikes will increase.
About Alternet Systems Inc.
The team is comprised primarily of military servants/veterans, where they have gained experience in electronic information, communication systems and combat systems. These systems required robust and durable energy storage solutions. By specializing in this, ALYI was founded. What the team shares even more is the University research and development experience in which various energy storage technologies have been experimented with. In addition to the ReVolt motorbike, they also focus on the development of Lithium technologies and the provision of military apps and technologies.
Due to the LOI and latest developments, the share is popular today. With the previous closing at 0.009, the share is currently at 0.0156. That is an increase of more than 70%. More news from ALYI is expected soon.
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