|By Marketwired .||
|January 6, 2014 08:13 AM EST||
NEW YORK, NY -- (Marketwired) -- 01/06/14 -- World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that it has contracted with Thailand-based DMC Corp (154) Co. Ltd. (www.dmc.co.th) for production of its revolutionary Wheelies LED display technology. Changing the way the world goes around, World Moto is a global authority on the $500 billion dollar motorcycle taxi industry and creator of the Moto-Meter, Wheelies, and Yes.
DMC recently concluded an extensive proof of concept phase that included demonstrations of their capabilities to meet the Company's rigorous standards for manufacture of printed circuit boards, injection molded components, conformal sealing and assembly of the Wheelies device. The successful completion of this phase and the subsequent agreement between the Company and DMC signifies the beginning of the production stage of Wheelies.
This strategic alliance allows the Company to move immediately into limited production of the Wheelies device, which involves low volume production runs of tens to hundreds of units in order to refine the production yields, increase the efficiency, and decrease warranty and support costs of the manufacturing process. DMC will provide their experienced research and development team to assist in the design of the automated test and analysis fixtures and programs required to optimize this system. The Company anticipates the limited production and optimization stage to last approximately 6 months, after which full commercial production will commence.
World Moto's CTO, Chris Ziomkowski, stated, "Anytime you develop a truly innovative product with very little in common with typical devices, you face a significant challenge in qualifying manufacturers. As no one has any direct experience with a similar product, there are few metrics you can use to help guarantee success. We are fortunate to have found such a capable manufacturer who has the experience, capacity and flexibility to help us guarantee commercial success."
World Moto will make limited production units available over the next six months for purchase/lease to advertisers, distributors and dealers, both for the purpose of generating revenue and awareness, and to establish distribution chains in advance of full commercial production. In addition, the Company may institute a pre-orders program to promote early adopters of the technology. As noted in the Company's December press releases, its Wheelies technology has generated significant media interest and demand from potential customers as the Company continues to receive unsolicited inquiries on a daily basis from interested parties on all 6 populated continents, including individuals as well as motorcycle manufacturers, distributors and dealers. Motorcycle and powersports dealers are also interested in purchasing the product as an in-store display. While the Company does not have figures for the total number of such dealers worldwide, in Bangkok alone, there are more than 1000 motorcycle dealers.
Note about the Moto-Meter
Note that a press release regarding the Moto-Meter will be distributed in future in conjunction with upcoming news and a first look at the revised product.
Recent press releases
About World Moto
World Moto, Inc. is the global authority on the $500 billion a year motorcycle taxi industry and creator of the Moto-Meter, Wheelies, and Yes.
The Moto-Meter is a landmark device that CNN, Newsweek, Wired, Moneylife, among others, are calling "the world's first motorcycle taxi meter" and "world's first portable taxi meter" and "first-ever black box for motorcycles," while the Times named it "one of the most significant innovations of this decade" and Fast Company declared it "The First Real Taxi Meter Innovation in 100 Years...a $3 billion dollar idea."
Wheelies display static and streaming media on the wheels of motorcycles and automobiles, providing a unique and beautiful new mobile medium for advertising, broadcasting, self expression and publishing. According to Fast Company, Wheelies "invents a new kind of screen -- and one that's potentially ubiquitous...It's best seen to be believed."
Yes is a personal concierge service. Accessing any product from the inventory of a local community is as simple as tapping an app and saying "Yes" when the razors, diapers, tissue, etc., are hand-delivered to virtually anywhere in less than 20 minutes. Launching in 2014, Yes will make brick and mortar local commerce as convenient as the Internet.
To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY), visit the Company's website and Facebook page. Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, projections of worldwide sales of World Moto, Inc's products and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
World Moto, Inc.
Telephone: (646) 810-8781