World Moto Inc. (fka FARE)

[EOT]

http://finance.yahoo.com/news/moto-meter-tm-granted-patent-141935682.html



NEW YORK, NY--(Marketwired - Apr 4, 2016) - 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 been awarded a patent on the Moto-Meter™ by the 16 member countries of the African Intellectual Property Organization.

Africa is home to the highest population of motorcycle taxis on earth, where vast fleets ply the streets to provide essential mobility for up to half a billion people each day. World Moto's latest success in securing patent protection for the Moto-Meter™ awards the Company coverage over an extensive area representing more than 50% of the continent by population. More than 5 million motorcycle taxis are currently in operation throughout the covered countries in Africa, a number nearly 30 times larger than the number of taxicabs in the entire United States. This immense market represents potential sales of well over $5 billion USD for the Company in Moto-Meter™ sales alone over the patent's lifetime.

World Moto has filed for patent prosecution of its Moto-Meter™ technology in 61 countries throughout Asia, Africa, Europe and the Americas. These countries were carefully selected to cover most of the world's mototaxi and autorickshaw fleets and population. With the addition of 16 countries of the OAPI, World Moto has now been granted patents in 36% of the targeted territory, with the remainder expected to complete their substantive examination periods in the coming months.

Note that the World Bank estimates that the numbers of motorcycle taxis will increase by more than 50% over the next five years. Also note that saturation of the Moto-Meter™ is projected to reach 100% within three years of introduction in any given market and that its life expectancy/repurchase cycle is estimated at three years. Market estimates do not include potential revenue from the Company's other products and services, such as Wheelies™, Yes™, apps, mobile commerce, advertising, accessories, servicing, calibration and all associated offerings.

Paul Giles, World Moto's CEO, commented, "In addition to representing a market over 15 times larger than automobile taxis, motorcycle taxis are the lifestyle choice of billions, and mototaxi operators are the messengers, deliverers, and personal assistants to which everyone naturally turns. More so than the automobile taxis, this is the strategic segment which needs to be captured in order to become a global leader in local transport and commerce. And World Moto continues to be one of the only public companies actively pursuing this industry."

About the OAPI/AIPO: The Organisation Africaine de la Propriété Intellectuelle, or African Intellectual Property Organisation, is an intellectual property organization, headquartered in Yaoundé, Cameroon. The organisation was created by Bangui Agreement of March 2, 1977, and includes the countries of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Ivory Coast, Equatorial Guinea, Gabon, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, Togo, and as of 2013, Comoros.

Watch a video of the Moto-Meter™ with smartphone app at:

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