GlobeNewswire Inc | Dec 2, 2021 11:57AM EST

December 02, 2021

Dallas, Texas, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (ALYI) today published a management update detailing the companys $10 million base revenue target for 2022 and the potential to reach a stretch target of $50 million:

ALYI 2022 Revenue Target Management Update

ALYIs $10 million base revenue target for 2022 is based solely on the anticipated growth of the companys ongoing delivery of electric vehicles to serve the in the East African taxi market.

ALYI is currently delivering electric motorcycles to Kenya and actually assembling three-wheel electric Bajas in Ethiopia.

The taxi market for motorcycles and Bajas in East Africa is robust and ALYI has negotiated an acquisition anticipated to close imminently that will give ALYI a stake in a taxi operation giving ALYI virtually unfettered ability to expand the delivery of electric vehicles replacing combustion engine vehicles.

ALYIs stretch revenue target of $50 million is based on the potential of additional revenue streams.

ALYI is building an Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment, not just the manufacturing of EVs.

ALYIs EV Ecosystem strategy is concentrating efforts first on developing solutions for the East African market where per capita transportation is low and EV solutions have the potential to be a first to market transportation solution rather than a replacement of an existing solution.

EV solutions rugged enough to endure the East African environment are also likely to be viable solutions everywhere else in the world, and ALYI does plans to expand globally.

ALYI is very actively working on additional components of its EV Ecosystem and management believes a number of the additional components have a high potential of generating revenue next year in 2022 and contributing to ALYIs $50 million stretch revenue target.

The list of additional EV Ecosystem components is long. Two highlighted components among the list of possible 2022 revenue contributors stem from 1., ALYIs pending acquisition of a stake in an electric vehicle racing business, and 2. ALYIs investment in the personal mobility car sharing tech company, Zoomcar.

The target EV racing acquisition has the potential to generate substantial revenue beginning in 2022 and growing exponentially over the next several years. The EV race business has been under development long-term and in addition to its potential to delivery substantial revenue, it is central to ALYIs EV Ecosystem branding strategy. Look for an anticipated announcement coming soon about the closing of the EV racing acquisition.

Zoomcars car sharing market focus in developing economic regions dovetails with ALYIs EV Ecosystem vision and management believes a mutually beneficial long-term partnership opportunity exists for both companies. ALYIs investment in Zoomcar has the potential to generate substantial income for ALYI as early as next year.

EV racing and Zoomcar are only two examples of ALYIs expanding EV Ecosystem and additional revenue sources. Look for ALYI to reveal additional EV Ecosystem component developments in the future.

In a move to accelerate ALYIs EV Ecosystems expansion, ALYIs cryptocurrency funding partner, Revolt Token (RVLT) will now be developing direct investment partnerships with ALYI EV Ecosystem partners.

ALYI has designed its EV Ecosystem solution to include democratized participation. ALYI has partnered with Revolt Token to finance ALYIs growth by offering participation in the EV Ecosystem through the sale of Revolt Tokens.

To learn more about Revolt Token and how to participate in ALYIs electric vehicle ecosystem through the purchase of Revolt Tokens, visit https://rvlttoken.com/.

The presentation on Friday will also include the latest updates from Revolt Token (RVLT).

For more information and to stay up to date on ALYI's overall latest developments, please visitwww.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.

For more information, please visit: http://www.alternetsystemsinc.com Alternet Systems, Inc. Contact: Randell Tornoinfo@lithiumip.com +1-800-713-0297