Dallas, TX – November 9, 2017 - Alternet Systems, Inc. (USOTC: ALYI) today released a shareholder update from its CEO, Randell Torno in conjunction with company’s filing status being updated to “Current Info” by OTC Markets. Alternet has published all past financial reports making the reports available for viewing on the OTC Markets website. The filings published on OTC Market’s includes detailed information on each of the 10 lithium technology patents in the company’s patent portfolio. The shareholder update elaborates more on the lithium technology portfolio and the company’s strategy and progress so far to establish a foothold in the $77 billion lithium ion battery market. The update is included below in its entirety:
From Randell Torno, CEO Alternet Systems, Inc.
Ed Bollen, the President of Alternet’s Lithium IP Holdings subsidiary, and I have been working on what is today, Alternet’s lithium technology strategy, since the beginning of this year. Ed and I both have a long background working with companies that are key participants in both industrial and military technology leaders. Together we bring both public and private sector experience working in the military and intelligence sectors. We are both retired from government service, but still have recurring work surrounding foreign and domestic government engagements. Through our various engagements, we have repeatedly come across demand for resilient energy solutions that meet industrial and military requirements for stable, safe, long duration power in high impact operating systems. We went to look for such a technology solution and found the portfolio of ten lithium energy technology patents that are now exclusively licensed to Alternet in an agreement that includes an option to purchase.
Brief History Of Building Lithium Energy Solution For Industrial Military Requirements
In the first quarter of 2017, Ed and I raised funds privately to research and ultimately acquire an energy storage technology that would satisfy industrial and military requirements for stable, safe, long duration power in high impact operating systems. In June of 2017, Lithium IP Holdings executed the license and purchase agreement to secure ten lithium energy technology patents. In July, Lithium IP Holdings was acquired by Alternet Systems in a transaction that included a change of control. Today, June 9th, 2017, we have finished updating the delinquent financial reports we inherited when we took control of Alternet Systems, bringing Lithium IP Holdings under Alternet.
Alternet Public Platform Background (5 Yr Wtd Avg PPS $0.03)
Alternet has less than 150 million shares issued and out. The company capital structure has been stable over the last five years with no reverse or forward splits. Total trading volume in dollars over the past five years is approximately $7 million at a weighted average price per share of $0.03 and a high of $0.20 early in 2014 (shortly after Alternet sold its previous primarily operating business in the financial technology services industry). Since the sale, Alternet worked to gain traction in new financial technology sector businesses until the complete change of direction with the lithium business that Ed and I have brought to Alternet. We believe the limited trading volume and long-term capital structure stability is an excellent platform for new lithium energy solution business.
Strategy: Partnerships With Prominent Companies To Develop Integrated Solutions
In parallel with the efforts to identify and acquire an energy solution to meet industrial and military requirements, we have coordinated with prominent third parties in the process to garner their feedback and validate the portfolio we finally acquired. With these same third parties, we are already exploring business arrangements whereby both parties will combine efforts to develop systems with Alternet’s technology or a derivative of Alternet’s technology integrated into the system. While the requirements have been defined by industrial military standards, a number of the potential integrated solutions are targeted for strictly commercial applications. Integrated solution partnerships being conceived at this time include major brand name players within both industrial and military sectors.
What To Expect Next:
We are nearing a point where a number of the potential partnerships to develop systems integrated with an Alternet lithium energy solution are ready to be disclosed as material business arrangements. Developing these partnerships and the integration projects around which the partnerships are built is our highest priority. A corporate name change to reflect the current business is in the works, but a secondary priority.
Thank you for your interest in Alternet’s new lithium energy technology business direction. We encourage you to check back frequently for the latest developments.
Learn more on the company’s website:
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. Contact:
1 800 713 0297