Just to mention that Regulation Fair Disclosure mandates that all public companies must disclose material information to all investors at the same time. That mentioned:
Regarding our filings: We are just waiting on the US auditor to complete their work on the Company's 10-K. Annual audits can take anywhere from 3-6 weeks depending on the auditor, time of year, condition of the accounting data, etc. That said, once the auditor is done we will file our 10-K and quarters will follow shortly thereafter. We look forward to these and future filings.
Filings aside, from May to present has indeed been quiet in terms of releasing news (emphasis on the word "releasing") as the Company has been entirely focused on filings and sales and marketing as detailed in its April 15 PR "World Moto Begins Focus on Increased Sales." Historically, World Moto has released an average of 2 PRs per month for the past 2 years (prior to May), which is above average for comparable companies. If past averages are considered, it is reasonable to conclude that new news may be forthcoming. World Moto anticipates returning to that figure with new news in the not-too-distant future.
As an overall update (shared elsewhere), without going into details, the specifics of which are restricted under Regulation Fair Disclosure until the mandatory reporting is filed, we can say that we have been following our business model which includes concentration both on private, competitive, non regulated sales as well as customers who want to push for government regulation.
What we have learned is that many of our customers are expressing a preference to push for government regulation and generating income through sales as distributors. (These are first customers that stumbled upon us, that is, all inquiries to date have been unsolicited as we have not yet run a targeted advertising campaign for the Moto-Meter.) We have released many press releases demonstrating this interest to our fellow shareholders. What we have also learned as a result of this is that the initial sales cycle for this model is more of a steady march or stride. Please be assured that this does not mean interest is not strong. It only means that, as reported in our press releases, the cycle for that sales model needs to run its course, and we thank you for your patience while this phase plays out. Also know that large orders, government mandates, etc., can happen at any time and fuel exponential growth in sales the way we all would like. In the meantime, the patented Moto-Meter is the only product of its kind available and inquiries are increasing and advertising campaigns have been designed for both the Moto-Meter and HailYES, and we are market testing those new ads before wider distribution.
While we missed meeting our mandatory reporting requirements (a first), we are clearly continuing to pursue our business strategies. As mentioned, we are working to release the annual and quarterly reports and to restore normal trading. Through experience we have figured out what works best for us with respect to investor awareness and we plan to put that into play following the next filings. We have streamlined operations and are now concentrated on marketing and sales, and we are absolutely committed to pushing forward towards success and profitability.
Thank you for your continued support of World Moto. We believe the Company is strongly positioned to be a market leader, and look forward to sharing this success with you.
Kind regards,
Mark Green
