DALLAS, May 7, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today announced that the company's revenue has not been impacted by the Covid-19 pandemic. ALYI management further confirms that its $300 million African electric mobility project also remains on track and to date, has not been impacted by the Covid-19 pandemic.
ALYI management acknowledges the company has held off on publishing regular updates lately. "The world has been understandably preoccupied by an historic world event threatening everyone's health and welfare," stated Randell Torno, Alternet Systems CEO. "We felt the state of our company was relatively inconsequential and news from us might even be disrespectful. Now that the lifestyle and economic conditions surrounding the pandemic are becoming more routine and in confidence that a vaccine will be found greenlighting a once again robust return to unrestricted economic activity, we thought the time was right to at least provide a brief update."
The consulting revenue the company currently earns has not been impacted. At the company's current design and engineering phase of development with its African electric mobility project, again the pandemic has had no impact at this time. ALYI is business as usual.
The company has made substantial strides of late with its funding partner for the African electric mobility project. At the time of our last published updates, our funding partner had already partitioned its own cryptocurrency on the Ethereum Blockchain. A pre ICO funding round is preparing to launch and ICO details are being finalized. ALYI management is optimistic that the timing of the ICO will coincide with a window of relief in the pandemic.
ALYI recently filed to extend the date to publish its annual report for 2019 in conjunction with the OTC Markets current requirements. The report is expected to soon be filed within the extension period. Following the report being published, management plans to issue a more comprehensive update.
For more information and to stay up to date on the latest developments, please visit: http://www.alternetsystemsinc.com
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.
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