From the Wires
World Moto Completes Successful Moto-Meter Trials in Bangkok -- Worldwide Motorcycle Meter Is a $3 Billion Industry
By: Marketwired .
Dec. 18, 2012 04:05 PM
BANGKOK, THAILAND -- (Marketwire) -- 12/18/12 -- World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (FRANKFURT: WM7) (FRANKFURT: A1J8SY) ("World Moto" or the "Company") is pleased to announce that the Company has successfully completed comprehensive street trials of the Company's revolutionary Moto-Meter in Bangkok, Thailand. Changing the way the world goes around, World Moto is a global authority on the $500 billion dollar a year motorcycle taxi industry and inventor of the Moto-Meter, the world's first motorcycle taxi meter.
World Moto partnered with the Bangkok Governor's Office to carry out the trials which were conducted to test both the hardware and software of the meter as well as to determine how quickly it could be deployed throughout the city. The trials were carried out along a prominent thoroughfare in the heart of the city and received universal praise from both drivers and passengers. Bangkok's Deputy Governor, Mrs. Taya Teepsuwan, acknowledged that "The Moto-Meter is an exciting project that will be an innovative step for Bangkok."
Based on the success of the trials, World Moto anticipates substantial demand once the Moto-Meter enters full production. According to the Thai Ministry of Transportation, there are over 200,000 motorcycle taxis in the city, providing potential revenue to World Moto of over $30m in sales of the Moto-Meter alone. The Ministry goes on to state that there are more than 700,000 motorcycle taxis across the country representing a potential market in excess of $100 million. Once the Moto-Meter is in widespread use, Bangkok will be referenced as a flagship city as the sales and marketing efforts are ramped up to enter other cities and areas across Thailand in conjunction with other major markets around the world.
Note that saturation of the Moto-Meter is projected to reach 100% within three years of introduction in any given market and its life expectancy/repurchase cycle is estimated at three years. Market estimates do not include potential revenue from Yes services, mobile commerce, advertising, accessories, servicing, calibration and all associated offerings.
World Moto CEO Paul Giles stated, "The successful completion of these trials is a particularly important milestone in the development of World Moto and marks the beginning of the era of metered motorcycle transport."
Watch the Moto-Meter in use on motorcycle taxis: http://www.worldmoto.com/videos.php
About World Moto
World Moto, Inc is the global authority on the $500 billion dollar a year motorcycle taxi industry and creator of Yes, the "Need it Now!" service. World Moto has revolutionized the taxi industry by inventing the Moto-Meter, 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."
Watch Yes: http://www.worldmoto.com/yes.php
To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (FRANKFURT: WM7) (FRANKFURT: A1J8SY), visit our website at www.worldmoto.com. 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.
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