The Alternet Systems Inc (OTCMKTS:ALYI) stock is flying against this morning and has soared by 75% in reaction to the company’s announcements yesterday in relation to its electric motorcycle development initiative.
The company announced yesterday that it completed a scheduled review for the initiative with the team of designers from MODUS Applied Innovations. The review had actually been completed by the company back on June 11 but the announcement was made yesterday.
More importantly, it has emerged that after the completion of the review, the company’s management is confident that Alternet Systems is on course in relation to its EV Rideshare and Self-Drive Rental program in Africa. At this point in time, the company’s management is also in the process of preparing a detailed update for shareholders with regard to the above-mentioned pilot program in Africa. After the gains that have been recorded by the stock so far today, it remains to be seen if it can manage to hold on to its momentum.