Dallas, Texas, April 20, 2022 (GLOBE NEWSWIRE) — Alternet Systems, Inc (OTC Pink: ALYI) today publish a detailed shareholder update from CEO Randell Torno following the recent posting of the company’s 2021 annual report. The CEO update is included in its entirety below:
ALYI was founded on a vision for an electric transportation future. The company started as an idea, and we have incrementally transitioned components of the founding idea into tangible reality.
The success of concept stage companies transitioning into sustainable businesses is built on the resilience and adaptability of the team behind the concept-to-production mission.
Contrary to popular rhetoric, a good business plan is not the key to success for a concept stage company. A plan for an unknown future is only good until the concept stage business inevitably runs into an unplanned future event. Then it is up to the team behind the concept-to-production mission to adapt and overcome.
No one under the age of 50 has experienced economic inflation, and even fewer people have experienced war time conditions. I am both over 50 and have spent substantial time in a combat zone, and I am not the only one on our concept-to-production team with age and combat experience.
ALYI has adapted to and overcome a number of unplanned events in the course of achieving our current concept-to-production milestones. Inflationary concerns and the war in Ukraine are in no way wavering our resolve to continue down our concept-to-production path. Our optimism for ALYI’s future is in fact greater than ever, based on the concept-to-production milestones we have already achieved.
The greatest of those milestones so far, I believe, is illustrated in our 2021 annual report. While ALYI has historically been generating consulting revenue, in 2021, we posted our first revenue from the sale of electric vehicles. The 2021 annual report includes details on a $2 million electric motorcycle order with the first revenue from that order included on the financial statement, adding to our historical consulting revenue.
Our first revenue from the sale of electric vehicles is a major milestone in the path from concept-to-production.
We expect to add revenue throughout the year from the $2 million contract.
More importantly, the business model and client engagement approach we pioneered to win the $2 million contract is now serving as a template for additional engagements. We expect to replicate this model and repeat this engagement approach with at least two more clients this year growing our book of business from the sale of electric vehicles from $2 million to $6 million.
The production of electric vehicles is only one component of achieving a sustainable, global market for electric transportation. Likewise, ALYI is developing additional sources of revenue separate from the production of electric vehicles. We are not planning for the expansion of our electric vehicle book of business to be our only source of revenue growth.
ALYI is building an EV Ecosystem that includes organic and partner solutions for all aspects of the growing EV transportation system.
Our long-term plan is to establish a branded annual event that virtually compels the participation of all EV transportation market participants in order to establish their credibility.
Our vision for the cornerstone of the branded annual event is to host an already recognized brand name electric vehicle racing event as the anchor to an electric transportation symposium.
Toward that end, ALYI has partnered with a racing promoter that has won a provisional license to host an annual Formula E event. Formula E is a recognized brand already attracting the participation of leading EV transportation market participants.
On the more near-term front, ALYI has additional EV Ecosystem developments anticipated to add to revenue sooner.
ALYI continues to work with WaterPure International, Inc. (OTC Pink: WPUR) to produce an off grid electric vehicle charging solution. A pilot solution is anticipated to be in production soon.
ALYI is also working with Priority Aviation, Inc. (OTC Pink: PJET). PJET has recently transitioned its core business focus from private jet transportation to developing technology solutions for university student life. ALYI and PJET are soon rolling out a pilot electric motorcycle and scooter offering for college campuses.
ALYI has substantially engaged with Sequoia backed, emerging market focused, self-drive rental car contender, Zoomcar, which is expected to IPO later this year. Zoomcar’s emerging market focus is consistent with the ALYI EV Ecosystem vision. ALYI’s $1 million pre-IPO investment in Zoomcar could result in a substantial boost to ALYI’s balance sheet. Longer-term, ALYI hopes to integrate its EV transportation vision into Zoomcar’s business model.
We expect the rate of ALYI concept-to-production milestones to increase throughout 2022 and 2023 leading to an evolutionary transition in ALYI’s continued expansion resources and options. By 2024, we plan for ALYI to be an attractive acquisition or Nasdaq uplisting candidate.
In the immediate future, as the entire market wades through inflationary and war-time uncertainty, we here at ALYI will keep our noses to the grindstone and continue to advance concept-to-production milestones that we are confident will be recognized by the market once the overall market regains confidence in the infinite possibility held by a future limited only by our collective imagination.
My grandparents were born when the Wright Brothers were experimenting with flight in Kitty Hawk, North Carolina, and they lived to see the Space Shuttle. They survived The Great Depression, Two World Words, and The Spanish Flu Pandemic, and then witnessed the Post World War II global economic boom. I was born into the Vietnam war and sat in the back of my mom’s car as we waited for hours in the odd or even day gas lines of the 70’s. I joined the Army in the Reagan years and enjoyed the long-term economic boom that followed for decades thereafter with only a few economic expansion interruptions along the way.
In short, I’m not exceedingly concerned by current global affairs. I am confident innovation, as it always has, will resiliently find a way to continue uninterrupted in the advance of new concepts into production. On behalf of everyone at ALYI, we are committed to being part of that uninterrupted advance.
To learn more about ALYI, visit www.alternetsystemsinc.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.