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DALLAS, September 15, 2017 /PRNewswire/ --
Alternet Systems, Inc. (USOTC: ALYI) acquired Lithium IP Holdings on July 21st of this year. Lithium IP Holdings has an existing portfolio of patented lithium based energy storage technologies. Alternet and its wholly owned subsidiary, Lithium IP Holdings, plan to develop partnerships with prominent businesses and agencies to commercialize this portfolio of lithium technologies while continuing to expand the portfolio to include a greater range of energy storage technologies. The existing portfolio of patented lithium battery enhancement technologies were developed to provide stable, safe, long duration power in high impact operating systems. Industrial tools, combat applications, automotive and other powered mechanical apparatus are examples of potential uses. With decades of military and intelligence community experience, the new Alternet Systems management team has a deep background with a variety of high impact applications and is already in conversations with potential commercialization and development partners.
After selling a previous financial systems operating subsidiary, previous Alternet Systems management began working to identify a new business direction. That effort culminated in the management change and above noted acquisition this past July. The Company anticipates completing the update of past financial reports that fell delinquent while the Company's primary focus was the development of a new business direction by the end of this month. The Company has recently published a preliminary website that includes more information about the business development strategy and the management team. Look for more updates to be forthcoming over the coming weeks to include more details on the patented technologies, potential commercialization partners, and new technology acquisitions under development.
The Company's new 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.