Dallas, Texas, Feb. 18, 2022 (GLOBE NEWSWIRE) — Alternet Systems, Inc. (OTC Pink: ALYI) today publish a progress report update on the company’s 2022 strategic outlook to reach $10 million in organic revenue with the potential to reach a $50 million stretch revenue goal. The update comes in the form of a shareholder letter from ALYI CEO Randell Torno. The letter is included in its entirety below:
ALYI has entered into 2022 at a very exciting juncture in the development of our EV Ecosystem business. That juncture is the transition from concept development to revenue traction.
ALYI is now generating revenue from the sale of electric motorcycles and three-wheeled electric Bahas. Our EV sales are only one component of our EV Ecosystem where we expect to generate revenue, and we are now on the verge of seeing additional revenue streams from other EV Ecosystem components begin to make the transition from concept to revenue traction.
One might think the ALYI share price would react more positively to the transition from concept to revenue. However, ALYI’s transition has coincided with a market weighted with more uncertainty than confidence. Inciting a positive reaction for any positive progress is an uphill battel for any company at this moment.
Nonetheless, ALYI is proceeding with our transition even though the progress we make today may not be immediately reflected in our share price while market uncertainty prevails. I am confident optimism will return to the market and the progress ALYI makes now will later be recognized.
I encourage you to review the ALYI 2022 strategic outlook presentation that explains how the various components of the company’s EV Ecosystem fit together to drive revenue and shareholder value.
The 2022 strategic outlook plans for ALYI to reach $10 million in organic revenue with the potential for us to reach a $50 million stretch revenue goal.
We expect the $10 million in organic revenue to come from our growing EV sales. We have established a comprehensive platform that we believe can soundly advance the growth of our EV sales. ALYI has established distribution and shared ride management partnerships in Africa that facilitate the entire lifecycle of our electric motorcycles and Bajas once they are produced. Our platform in Africa is licensed to import and has the backing to finance motorcycles for shared ride drivers through a lease to own contract.
Our EV sales opportunity could be greater than $10 million, and we certainly won’t rule out the potential to increase our 2022 EV sales target. In the meantime, the additional revenue that would take us to our stretch revenue goal targeting $50 million is anticipated from other components of our EV Ecosystem.
Our partnership with Priority Aviation, Inc. (OTC Pink: PJET), a company that is no longer in the aviation business having transitioned into a business serving university students, could soon begin generating additional revenue for ALYI. ALYI is providing electric motorcycles to PJET for a pilot university student campus transportation program that could expand from a pilot into a full-fledged program. PJET expects to start demonstrating vehicles on campuses in Texas before the end of the first quarter and taking orders.
ALYI has also partnered with WaterPure International, Inc. (OTC Pink: WPUR), a water utility management company that has expanded into electric utility management focusing on innovative sustainability technology projects in Africa that can be scaled globally. ALYI is working on multiple projects with WPUR. Our off grid electric vehicle charging project has the potential to start generating revenue later this year for both ALYI and WPUR.
From our current vantage point, the most substantial stretch revenue contribution would come from ALYI’s direct investment the shared mobility market. The shared mobility market reached $420 billion in 2020 and is expected to reach $770 billion by 2030. ALYI’s investment is both tactical and strategic. The investment could tactically produce a significant monetary return on investment and strategically, it could substantially expand ALYI’s EV sales.
ALYI has made a strategic monetary investment in a car sharing technology company called Zoomcar Inc.
Early Zoomcar investors include Sequoia Capital, former US Treasury Secretary Larry Summers, Mahindra & Mahindra Ltd. and Ford Smart Mobility LLC, a unit of Ford Motor Co.
We are optimistic about the tactical and strategic ROI potential of ALYI’s investment, and that optimism is growing in reaction to recent news on Zoomcar’s progress:
“Zoomcar, an India-headquartered self-drive car rental platform operator, plans to get listed in the US in the first half of 2022 with an expected valuation of over USD 1bn” said co-founder and CEO Greg Moran.
“The company is still assessing both traditional initial public offering (IPO) and SPAC routes and will finalize the advisory team in the coming months”, Moran said.
ALYI has just executed a new agreement that advances our brand name electric auto racing event initiative in Kenya around which we intend to build a major, annual global EV symposium to advance EV technology worldwide. I look forward to sharing more details on our event progress in a future update.
With a population approaching 8 billion people, and with less that 2 billion of the population living within a developed economy, the world has boundless opportunity for economic growth. The current market uncertainty will eventually be overcome by that massive economic growth opportunity. Here at ALYI, we never lose sight of that massive economic growth opportunity.
For more information and to stay up to date on ALYI’s overall latest developments, please 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.