SOURCE: Alternet Systems, Inc.

Alternet Systems, Inc.

September 26, 2014 10:15 ET

Alternet Systems Obtains Shareholder Approval for Proposals Set Forth During Special Meeting

MIAMI, FL--(Marketwired - Sep 26, 2014) - Alternet Systems, Inc. (OTCQB: ALYI), a business to business facilitator for digital currency and mobile commerce services in the digital asset and virtual currency ecosystem, today announced that on September 25, 2014, the Company held a special meeting of stockholders at which a majority of the Company's shareholders overwhelmingly approved the proposals set forth. 

Henryk Dabrowski, Chief Executive Officer of Alternet Systems, commented, "On behalf of the Board of Directors and the entire management team, we want to thank our shareholders for their support and confidence in the opportunity within the digital currency industry we are embarking on. The approved proposals will allow us to continue to sign strategic partnerships, provides us with working capital to fulfill our business plan and assist us in accelerating our growth."

Alternet Systems Overview and Accomplishments:
Alternet Systems is an accelerator of disruptive technologies within the digital currency industry through four major segments: financial services, currency exchange, payment processing and security. The Company has established strategic relationships, expertise and accomplishments within each of these segments.

Financial Services: Alternet Financial Services ("AFS") was created in an effort to provide global business to business currency transaction flexibility through digital currency. For example, there are regulations and restrictions on large global corporations from exchanging currency between certain countries throughout the world such as Venezuela and Argentina. By using digital currency as a mediator in conjunction with the AFS platform, the flow of money can be facilitated.

Currency Exchange: In order to effectuate global transactions through digital currency, Alternet Systems must become an exchange. Through OneMarket, the Company is in the process of obtaining a State of New York license to carry out this endeavor. Ven, the only digital currency to be priced from a basket of currencies, commodities and carbon futures, making it green, grounded and stable, is the first of several digital currencies to be exchanged on this platform. By being recognized as a Ven Authority, an entity who manages the liquidity of Ven, this is possible. 

Payment Processing: Wholly-owned subsidiary, Alternet Payment Solutions ("APS"), has launched its worldwide payment processing business through a strategic channel partner agreement with BitPay, the world leader in business solutions for the bitcoin digital currency. APS has entered into a non-exclusive agent agreement to sell and support the BitPay platform into Alternet's customer base. APS will focus on providing business to business Bitcoin payment methods such as converting local currency to Bitcoin and/or Bitcoin to USD in the Americas, Caribbean and Asia-Pacific.

Security: Through a strategic joint venture with BIOMETRY for "BioME," Alternet will securitize global transactions by replacing passwords and PINs with dynamic facial and voice recognition in a unique ID system. BIOMETRY's innovative and patented secure payment applications will be incorporated into Alternet's digital currency offering, including OneMarket's Digital Asset Exchange and the Alternet Financial Services, Digital Bank initiatives. Alternet will expand BIOMETRY's market reach, through its network of clients, including financial institutions and mobile network operators.

Special Meeting Details:
A total of 71,457,994 votes were cast, representing 72.76% of the outstanding shares as of the record date of July 31, 2014. The shareholders approved the following proposals:

1. To approve an amendment to the Company's Articles of Incorporation to increase the Company's authorized shares of common stock from 100,000,000 to 500,000,000. 63,081,873 shares (64.23% of outstanding shares and 88.27% of the votes cast) were voted in favor of the proposal.
2. To approve an amendment to the Company's Articles of Incorporation to authorize the issuance of up to 10,000,000 shares of blank preferred stock. 51,336,601 shares (52.30% of outstanding shares and 87.87% of the votes cast) were voted in favor of the proposal.
3. To approve the Alternet Systems, Inc. 2014 Equity Incentive Plan. 52,256,051 shares (53.21% of outstanding shares and 89.39% of the votes cast) voted in favor of the proposal.

About Alternet Systems Inc.:
Alternet Systems Inc. (OTCQB: ALYI), headquartered in Miami, Florida, is an enterprise accelerator company focused on the complimentary, high-growth markets of Digital Currency, Mobile and Internet Commerce and Cyber-Security products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms. 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.

Safe Harbor Statement:
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

  • Investor Contact:
    Capital Markets Group, LLC
    Steve Gersten
    Email: Email Contact
    Phone: (813) 926-8920

    Valter Pinto
    Email: Email Contact
    Phone: (914) 669-0222
    (212) 398-3486