Dallas, TX – July 19, 2018 Alternet Systems, Inc. (USOTC: ALYI) today released a presentation on the company’s cryptocurrency backed electric vehicle (EV) purchase finance and leasing concept. On July 10th, the company announced that the company had been approached by an investment group proposing the cryptocurrency concept. Management outlined the concept in the July 10th announcement and solicited shareholder feedback on the potential cryptocurrency backed EV purchase finance capability. The presentation today is a compilation of shareholder feedback and management’s current thinking on how a cryptocurrency strategy might be implemented to support Alternet’s comprehensive plan to develop and implement advanced energy storage applications.
Alternet Systems Comprehensive Business Strategy
Alternet’s overall strategy is to develop, commercialize and expand its portfolio of advanced energy storage technology. Alternet is building technology and application partnerships to develop and implement sustainable energy storage solutions for high impact operating environments. The two leading application focuses for Alternet today are defense and transportation. As an example of Alternet’s development and commercialization strategy, Alternet recently launched an Electric Vehicle (EV) business called ReVolt Electric Motorbikes utilizing a combination of proprietary lithium battery technologies. A strategy similar to ReVolt is in the works for the defense sector.
Cryptocurrency Backed EV Purchase Finance
To support the sales of electric motorcycles and eclectic bikes, management has been working on a consumer finance solution to provide buyers with purchase financing and leasing products. In the course of our business development efforts, Alternet was approached by an investment group proposing the introduction of a cryptocurrency that would permit individual investors to back the purchase financing and leasing products. The concept is for the sale of a cryptocurrency to source funds that would be used to finance the purchase or lease of ReVolt electric vehicles. In so doing, the ownership of such a cryptocurrency would represent a percentage of ownership in the portfolio of loans and leases secured by electric vehicles.
Cryptocurrency Pros and Cons
The cryptocurrency market appears to provide early stage companies with a promising path to rapidly finance new enterprises. Cryptocurrencies also have an appealing democratic characteristic inherent within the nature of the universally open architecture of a cryptocurrency offering. The technology is open, and the offering is open to anyone with an internet connection. At the same time, cryptocurrencies are a subject of considerable controversy. Security regulators have voiced concern and taken action in regard to the concern that cryptocurrency issuances lack sufficient oversight to protect investors.
The company received a variety of responses to the cryptocurrency backed EV purchase finance and leasing concept. Most of the responses are in support of the concept. Some include prudent cautionary warnings in light of the prevailing controversy surrounding cryptocurrencies. Some of the responses were adamantly opposed to the concept. The company also received a number of suggestions on how best to implement a cryptocurrency solution in addition to receiving a number of introductions to resources that could contribute to an Alternet cryptocurrency.
Alternet Cryptocurrency Concept Development Strategy
Alternet management believes a cryptocurrency backed EV purchase finance and leasing capability could be a substantial tool and make strategic contribution to the successful execution of the company’s overall plan to develop and implement advanced energy storage solutions. Management likewise believes that a cryptocurrency backed EV purchase finance and leasing capability is a viable opportunity for Alternet. Management’s core guidelines for pursuing a potential cryptocurrency backed EV purchase finance and leasing capability follow:
1. The cryptocurrency solution should be pursued within a standalone, separately managed business entity – a subsidiary or joint-venture.
2. The purchase finance and leasing capability should be available to support consumer finance of any EV, not just ReVolt EVs.
3. The blockchain technology to enable a cryptocurrency should be a commercially available and tested technology, not an inhouse technology.
4. The cryptocurrency offering should be registered.
5. The ongoing development of the concept cryptocurrency should continue to involve shareholder feedback within the democratic spirit of open and transparent cryptocurrency backed enterprises.
The company encourages continued feedback on the cryptocurrency backed EV purchase finance and leasing capability. Please let management know what you think. Management welcomes all ideas, suggestions and introductions. Contact the company at:
Learn more on the company's website: www.lithiumip.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.
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