Dallas, TX – August 21, 2018 Alternet Systems, Inc. (USOTC: ALYI) today announced the publication of its Q2 2018 financial report. Management released the statement below in conjunction with the report:
The report reflects an early stage operation establishing early traction and adapting its strategy in reaction to what the organization learns in the pursuit of its mission to introduce robust, sustainable energy storage solutions. We are pleased with the early revenue from a partnership agreement to develop military grade energy storage solutions. Nothing is a better validation of a business strategy than getting paid. We’re eager to get the ReVolt electric motorcycle into production and begin realizing sales from a product utilizing an energy storage solution resulting from our strategy to introduce new energy storage solutions. Our approach to commercializing energy storage solutions is evolving as a result of our experience. While we were excited by the interest we garnered in our strategy from a Fortune 500 company, that interest seemed to ebb once we made our license first payment. Additionally, we discovered that the market is rich with alternative storage technology innovations looking for applications. We now believe it is more efficient to leave our options open in the early development stage rather than paying up front for a technology we have not yet evaluated in an application. We are now leaving our application development approach open to a wider range of possible technologies which we can license after we’ve evaluated the applicability. This means we have decided not to renew our agreement for Air Products’ technology at this time. We will continue to evaluate their technology along with other competitors’ technology for potential applicability in one of our various alternative energy storage projects. If an Air Products’ technology fits or if any competitors’ technology fits, we’ll pursue a license agreement at that time. We also want to emphasize that while we continue to explore lithium centric energy storage solutions, we are also exploring energy storage solutions other than lithium. We are planning an investor relations communications refresh right after Labor Day. Look for a new website at that time that reflects our latest progress and the latest updates too our strategy. We have a lot in the works.
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.
Alternet Systems, Inc. Contact: