MIAMI, October 28, 2016 /PRNewswire/ --
Alternet Systems, Inc. (ALYI) today released a shareholder update following the recent announcement by North American Cannabis Holdings, Inc. (USMJ) regarding contract discussions between Alternet and North American Cannabis Holdings. The purpose of this update is to confirm the ongoing discussions with North American Cannabis Holdings, and to provide further updates on Alternet's current status in the financial software industry, in addition to highlighting Alternet's future plans in the cannabis sector.
North American Cannabis Holdings and Alternet Contract Discussions
On Tuesday this week, October 25, 2016, North American Cannabis Holdings announced entering discussions with Alternet on a deal intended to combine resources of the two companies in the launch of a cannabis payment system. Alternet has consulted with North American Cannabis Holdings since the launch of their cannabis payment system pilot project. North American Cannabis Holdings' announcement last Tuesday went on to compare the plan with Alternet to a previous transaction between North American Cannabis Holdings and a separate company, Puration, Inc. (PURA). The Puration transaction involved a share exchange between Puration and North American Cannabis Holdings and dividend distribution to North American Cannabis Holdings shareholders. Alternet confirms the nature of the discussions with North American Cannabis Holdings. The North American Cannabis Holdings release can be seen in its entirety by following the below link:
Alternet's Current Status
Alternet has a long-term track record in developing innovative financial services industry software solutions. Alternet continues today in an effort toward developing and commercializing a growing portfolio of digital commerce technologies. Most recently, Alternet has concentrated on Data Analytics.
Where big company sales used to be driven by 'mass-marketing' campaigns, marketing today is focused on 'microsegments and hyper localization.' Instead of designing campaigns that appeal to the mass, with the reach of today's social media technologies, marketing campaigns are designed for very specifically defined populations and even designed for the individual consumer. The input for such microsegmented and hyper localized campaigns starts with Big Data Analytics.
Capturing and organizing sales transaction data, to study and improve the efficiency and efficacy of future marketing programs, is a competitive advantage almost exclusively available to the largest corporations that can bankroll the development of proprietary, multi-million dollar software solutions. Alternet's focus is on making Data Analytics available as a service affordably in reach to smaller business, and in so doing, leveling the $125 Billion Big Data Analytics playing field between the Fortune 500 and everybody else.
Alternet Systems has a long-term track record in developing innovative financial services industry software solutions. Very similar to the approach the Company is currently utilizing to develop its Data Analytics solution, Alternet recently developed a previous financial services solution, later selling that solution and realizing a 47% ROI. That same management is now developing the Data Analytics centric solution.
Alternet Future Plans In The Cannabis Sector
Alternet's business development since the aforementioned financial services solution sale with a 47% ROI has been slower than anticipated, but nevertheless promising. In keeping with the slower than anticipated development pace, the Company has sparingly expended resources. Management prioritized sustaining operations for the long-term through an anticipated short-term slow period. As a result of the sparing use of resources, the Company is now behind schedule in filing current financial information.
The engagement with North American Cannabis Holdings would bring Alternet into the burgeoning cannabis sector. Management anticipates an entry into the cannabis sector to pick-up Alternet's overall business development pace. Negotiations with North American Cannabis Holdings include direct and collateral business arrangements expected to facilitate Alternet rapidly coming current in its financial reporting requirements.
In addition to Alternet's comprehensive financial software industry experience, North American Cannabis Holdings specifically saw Alternet's recent focus on data analytics as a potential differentiator in a retail cannabis payment system.
To learn more about Alternet Systems, visit the Company's website: AlternetSystems.com
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Alternet Systems, Inc.