World Moto Signs MOU for New Moto-Meter™ Distributor in Sri Lanka
February 22 2016 - 9:00AM
InvestorsHub NewsWire
World Moto Signs MOU for New Moto-Meter™ Distributor in Sri
Lanka
Sri Lanka represents a $100 million market for
Moto-Meter™ sales
NEW YORK, NY -- February 22, 2016 -- InvestorsHub NewsWire -- World
Moto, Inc. (OTC:
FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the
"Company"), a leader in advanced solutions for motorcycle taxis and
on-demand transport, today announced that it has signed a
memorandum of understanding for distribution of the Moto-Meter™
throughout Sri Lanka.
The MOU authorizes the Sri Lankan distributor to immediately begin
marketing the Moto-Meter™ in the assigned territory as an
authorized partner of World Moto, and allows him to purchase the
Moto-Meter™ at a specified price, with preferred lead times for
orders of initial stock. The distributor has influence on the
boards of two major Sri Lankan transportation providers, VGO and
Airport Express, and intends to provide an integrated, trusted
solution for the entire Sri Lankan market by combining the
strengths of both smartphones and the Moto-Meter™.
Sri Lanka is an island nation in the Indian Ocean, with a
population of more than 21 million people and an estimated 735,000
three wheeled auto rickshaws as of 2012 (Source: Sunday
Observer). While most of these vehicles do not currently have
meters, efforts are underway to implement meters and they are
becoming increasingly common. The Moto-Meter™ offers unique
advantages over alternatives due to its secure, anti-tampering
features that reassures consumers, as well as its portability,
ruggedized design, and ability to be integrated with smart phone
applications and thus offer consumers a way to preferentially
select trustworthy drivers equipped with the Moto-Meter™.
Paul Giles, CEO of World Moto, stated, "The Moto-Meter is a truly
unique product that blends the distinct usage profiles of both
meters and smartphones, and it is this unique proposition that is
continuing to win praises and commitments from the companies who
contact us. The opportunities we are creating today with these
distribution agreements are the infrastructure that will propel the
Company to record growth over the coming year."
Watch a video of the Moto-Meter™ with smartphone app at:
https://www.youtube.com/watch?v=lPf4PpZs2dM
To be added to the World Moto email distribution list,
please email invest@worldmoto.com
About World Moto
World Moto is a technology company that designs, manufactures,
markets and sells Moto-Meter products, devices that provide
moto-taxi fare metering and other communication capabilities. The
Company’s Moto-Meter patents have been granted in 4 countries, with
applications pending in another 56 jurisdictions. World Moto’s
products and services include the
Moto-Meter™, arguably the world's first
motorcycle taxi meter, Wheelies™, which
display static and streaming media content on the wheels of
motorcycles, and Yes™ (aka
HailYes™), a smartphone app for on-demand
transportation. For more information on World Moto, please visit
World Moto’s website at www.worldmoto.com.
Community
Facebook: http://www.facebook.com/worldmoto ;
Video Channel: http://www.youtube.com/user/worldmoto ;
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, estimates of motorcycle taxi markets,
release of HailYes™ apps, global ride-hailing market, growth of
platform, target markets, product releases, product demand and,
business strategy. 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.
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.
Press Contact:
World Moto
Press@worldmoto.com
(646) 810-8781
World Moto
Invest@worldmoto.com
(646) 810-8781