Alternet Systems Announces $6.5 Million Asset Sale of Utiba Americas, Its Mobile Financial Services Subsidiary, Subject to Sh...
2013年11月21日 - 4:00AM
Marketwired
Alternet Systems Announces $6.5 Million Asset Sale of Utiba
Americas, Its Mobile Financial Services Subsidiary, Subject to
Shareholder Approval
Company Also Announces the Restructuring of Its Cyber-Security
Subsidiary, IMS
MIAMI, FL--(Marketwired - Nov 20, 2013) - Alternet Systems, Inc.
(OTCQB: ALYI) ("Alternet" or the "Company"), an investment holding
company focused on the complimentary, high-growth markets of
cyber-security and mobile financial services, today announced the
asset sale of its mobile financial services subsidiary and the
restructuring of its mobile cyber-security subsidiary.
As announced yesterday in a Form 8-K on file with the Securities
and Exchange Commission, the Company entered into an Asset Purchase
Agreement. Effective October 15, 2013, the Company will sell all of
the business and assets of its mobile financial services
subsidiary, Alternet Systems Transactions ("ATS" or "Utiba
Americas"), to its joint venture partner, Utiba Pte., a leading
mobile payment software developer. Utiba Pte. will purchase the
assets from the Company for an approximate total value of six and a
half million ($6,500,000) paid over three years. Management is
expected to remain in place following the transition.
Utiba Americas has seen significant success this year marked by
growth in its customer base as compared to the prior year, as well
as solid sales. Year-to-date sales have remained in-line with
management expectations and are on target to reach end of the year
milestones.
Mr. Henryk Dabrowski, CEO of Alternet Systems, commented,
"Alternet's core focus on capturing and converting growth and
opportunities within the global mobile phone market remains
steadfast. As disclosed yesterday, Utiba is seeking to purchase our
stake in Utiba Americas. With the industry seeing widespread
consolidation, entering into this purchase agreement now presents
us with the strategic opportunity to not only quickly monetize and
earn a substantial return on our initial investment, but also to
obtain the financing necessary to solidify the Company's financial
position and pursue our next revenue generating opportunity and/or
acquisition without delay. We believe this is the right move for
the Company and our shareholders, and are confident in our ability
to continue capitalizing on our investments in the time ahead."
The transaction is subject to shareholder vote and approval. The
Company will be filing Preliminary Proxy Statement and notice of
Meeting of Shareholders immediately, and scheduling a Shareholders
Meeting to vote on the transaction soon thereafter. If approved,
the transaction could close as soon as Q1 2014.
Mr. Dabrowski continued, "Separate from the sale of Utiba
Americas, we continue our focus on augmenting revenue with
ancillary streams stemming from our cyber-security subsidiary,
International Mobile Security (IMS), a provider mobile and digital
security solutions to law enforcement agencies. To this effort,
we've started restructuring the Company to position it for organic
growth. We are actively recruiting an experienced management team
to take operational control, as well as tapping current and opening
new lines of business. All initiatives are of priority to me and my
team; and we will notify the investment community on our progress
in these areas as we are able to. We are excited about what the
future has in store for the Company and the shareholders, and will
update the market throughout it."
For additional information on Alternet Systems Inc. and its
subsidiaries, please visit www.sec.gov.
ABOUT ALTERNET SYSTEMS INC. Alternet Systems Inc. (OTCQB: ALYI),
a US corporation headquartered in Miami, Florida, is an investment
holding company focused on the complimentary, high-growth markets
of cyber-security and mobile financial services. Through its
subsidiaries, Alternet captures and converts the extraordinary
growth and opportunities surrounding the explosion of mobile phones
worldwide. Its cyber-security subsidiary, International Mobile
Security (IMS), provides mobile and digital security solutions to
law enforcement agencies. Alternet's mobile financial services
subsidiary, Utiba Americas, is a joint venture with Utiba Pte, the
leading developer of mobile payment software solutions. Utiba
Americas is deploying mobile financial services solutions for
mobile network operators, financial institutions and third party
payment service providers throughout the Americas region. More
information about Alternet and its subsidiaries can be found at
www.alternetsystems.com and by following the company on Twitter
www.twitter.com/alternetsystems.
For further information about this release contact Investor
Relations at 1-888-823-8494, 800-631-8127 and/or via email at
ir@alternetsystems.com.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 Certain statements in this news release may
contain forward-looking information within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential future plans and objectives of the Company, are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements.
Investor Relations Contact at Alternet: Rich Kaiser
1-800-631-8127 1-888-823-8494 Email Contact
Alternet Systems (PK) (USOTC:ALYI)
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Alternet Systems (PK) (USOTC:ALYI)
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から 10 2023 まで 10 2024