MIAMI, FL--(Marketwire - February 2, 2009) - Alternet Systems, Inc. (
OTCBB:
ALYI), a leader in
e-ticketing and mobile transactions services, today issued the following
letter to shareholders from Chairman and CEO, Henryk Dabrowski.
Dear Alternet Shareholders:
The team at Alternet Systems is planning some exciting changes and
additions to our product and service lines designed to further enhance our
revenues and add to shareholder value. We have spent a considerable amount
of time over the past year establishing the right partnerships to expand
and diversify Alternet's offerings and to successfully accomplish the
change of the Company. Since early 2008, the objectives and goals defined
by our management team and approved by our Board of Directors have been
100% accomplished.
We entered into a joint venture with TCPS, the largest provider of
Contactless Fare Collection products and services in China. The result of
this joint venture is Transtech Sino America, Inc. with which we have
secured contracts in Central America, and we are currently prospecting
multiple opportunities in South America and the Caribbean. We expect that
2009 will allow us to close additional prospecting opportunities. In
conjunction with UTIBA, a leading mobile transaction platform provider
located in Singapore, we entered into a Letter of Intent to set the basis
for our future initiatives in the M-Commerce area. Under the agreement,
Alternet will provide local management, business development, technical
support and the required funding, while UTIBA will provide technical
support, its proprietary software, operational and commercial expertise. We
have also been quite active in researching additional markets and
applications for our future M-Commerce offering. We expect to finish the
financial models by March 2009 and correspondingly start to execute the
first agreements with potential customers. Specifically, we will be
offering a suite of platforms and services to the Money Remittance,
Microfinance and Micropayment industries in the Americas and the Caribbean.
We have used the knowledge that we have acquired over the last year to
precisely define our existing and future services and product lines, and to
establish the organization and resources to quickly transform into
revenues. It is truly exciting to have Alternet Systems ready to
participate in these revolutionary and rapid growth market segments.
We will soon be making formal announcements regarding our revised service
and product strategy including our joint ventures and partnerships,
contracts and increased revenue projections.
We see many applications for our offerings across multiple markets and
believe these will be strong potential revenue streams for us moving
through 2009.
In 2008 we engaged the services of Red River Advisors, a seasoned micro and
small cap public relations and investor relations team. During the initial
stage of the financial crisis, we decided to weather that period and focus
on finalizing our operational objectives for the year. This year, their
team will be helping us expand Alternet's public awareness, providing
current and future investors with updated information, as well as
communicating with the market.
Our organization is happy to announce that Mr. Wei Xiu, Chairman of TCPS,
has officially moved to Miami, Florida. He will undertake the CEO role at
our joint venture, Transtech Sino America, overseeing its operations and
building the operational team to integrate TCPS operations in China and
Alternet's resources. This is a show of trust and commitment to the joint
venture and to our common vision. Mr. Xiu holds a Ph.D. in International
Finance and is well recognized as a leader in the Prepaid Fare Collection
industry in China. He was responsible for the expansion of TCPS into more
than 80 cities in China and initiated the international expansion in 2004.
Our management is aware of the challenges ahead. We also understand that
the current worldwide financial crisis is a potential threat to our
business. Our management team is comprised of seasoned professionals with
international experience, who have managed through periods of financial,
political and social crisis. Based on the team's collective experience, we
all agree it is also a time of opportunity and potentially high profits.
Our TCPS partners say that in China, the word 'crisis' is also used to
express 'opportunity.'
We are very excited about these and other upcoming developments, and
believe we now have the right service and product set to significantly grow
our revenues and enhance shareholder value. It is going to be an exciting
year for our Company and our shareholders. We look forward to sharing our
excitement with you over the upcoming weeks as we provide more details of
this revised and enhanced product and distribution strategy.
Thank you for your continued support,
Henryk Dabrowski
Chairman and CEO
Alternet Systems, Inc.
About Tianjin IC Card Public Network System CO. LTD
Tianjin IC Card Public Network System CO. LTD (TCPS) is a high-tech company
specialized in the research & development and production of contactless IC
card application system and financial payment terminals. The Company also
attaches a great importance to the integration of network systems, the
exploration of application software as well as the investment and operation
of contactless IC card payment systems. The company has its headquarters in
Tianjin, in the Peoples Republic of China. (
http://www.tcps.com.cn/EN/)
About UTIBA
UTIBA Pty LTd. (UTIBA) creates innovative software solutions for Mobile
Operators and Financial Institutions. Sitting at the cross-roads between
the Subscriber, Merchants and Banks, UTIBA facilitates low value
transactions across mobile networks. UTIBA currently processes millions of
transaction per day, providing cost savings and new revenue streams for
Mobile Operators around the world. The Company has a deep understanding of
the micro payments market and business requirements and its product
portfolio is mature, flexible and scalable. UTIBA is privately held and was
founded in 2001. UTIBA has selected strategic global partners and
distribution channels to facilitate its aggressive expansion into new
markets, including Asia, Sub-continent, Eastern Europe and South America.
UTIBA is a world leader in micro payments and distribution systems, growing
rapidly as a de-facto technology for mobile transactions.
About Alternet Systems (
www.alternetsystems.com)
Alternet Systems, Inc. (
OTCBB:
ALYI) provides: telecommunications services;
education and health-care application software and systems; and electronic
transaction platforms for the mass transportation and utility markets.
Alternet Systems, Inc. is a U.S. corporation headquartered in Miami,
Florida.
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.
Contact Information: Contact:
Red River Advisors
214-556-5927
alternet@redriveradvisors.com