NEW YORK, NY--(Marketwired - Jan 19, 2016) - World Moto, Inc. (
The MOU authorizes the Kampala distributor of retail and consumer merchandise 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.
Kampala City has an estimated 250,000 motorcycle taxis (Source: The Guardian, 2013), and a recent objective of Kamapala City's Council Authority is to have all moto taxis, called bodabodas, within the city limits to be registered and issued an official license to operate. To date, 53,000 bodabodas have registered with the Council Authority, and the process is ongoing. The Council Authority is currently discussing the options for new regulations regarding the safe use of motorcycle taxis throughout the city, with collaboration from the distributor on the unique merits of the Moto-Meter™.
Company CEO Paul Giles stated, "Distributors are a highly effective way to reach not only customers, but state and municipal governments. Recent movements in India and Uganda are just two examples of the initiatives being undertaken by authorities around world to professionalize the motorcycle taxi industry, and it is World Moto's distributors and channel partners that are going to be driving sales throughout this transformation."
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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 .
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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.
Investor Contact : World Moto Email Contact (646) 810-8781 Press Contact : Email Contact (646) 810-8781
