Alternet Systems Announces 2018 Dividend Distribution Plans
DALLAS, TX / ACCESSWIRE / January 2, 2018 / Alternet Systems, Inc. (OTC PINK: ALYI) today announced an online presentation scheduled this Thursday, January 4th to detail plans for two planned spinoffs in 2018. The company announced plans last week to apply its lithium technology to two specific business operations and spin those operations into standalone listed companies in transactions where Alternet shareholders would receive shares in the two spinoffs. The presentation on Thursday will disclose the two specific operations and anticipated next steps.
Alternet Patented Lithium Energy Solution
On July 21, 2017, Alternet Systems acquired Lithium IP Holdings in a transaction that included a management and business direction change. Randell Torno was named the new Alternet Systems Chairman and CEO. Edward Bollen, the President of Lithium IP Holdings, also joined the Alternet Systems management team. On June 23, 2017, Lithium IP Holdings executed an agreement with Air Products and Chemicals, Inc. (APD) to exclusively license ten U.S. Patented lithium battery technologies with an option to acquire the ten U.S. Patents.
Alternet Lithium Energy Integration and Development Strategy
Alternet's business strategy today is to partner with prominent third parties producing products and services that require stable, safe, long duration power in high impact operating systems. Within such partnerships, Alternet and each partner will together develop an integrated solution that includes a power component based on Alternet's lithium technology. Alternet's lithium technology applicability in military solutions presents promising partnership development opportunities. At the same time, Alternet is also developing partnerships separate from the military industrial sector to include the Electric Vehicle (EV) and Hybrid Electric Vehicle (HEV) partners. Several potential partners participated in Alternet's vetting process when identifying and selecting a technology to acquire as the foundation of the company's strategy to bring a stable, safe, long duration power solution to market for high impact operating systems. Partnership announcements are anticipated to be forthcoming soon.
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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SOURCE: Alternet Systems, Inc.