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It has been pointed out to you several times there wouldn't have been mass production of meters 2 years ago when you were there as they had no contracts to fill at the time. Obviously you don't understand the supply and demand dynamic.
So if I want to sue you I can serve your sister? Sorry it doesn't work that way.
You have to wait until the fins come out. You don't have an address to serve them.
I think the real question with FARE is whether or not countries like India and Thailand move into the 21st century and realize GPS is accurate at calculating fares. Or if they dictate some law that GPS can't solely be used since not everyone owns a smart phone. Mandated use of a meter is still undecided.
Actually Col what makes sense is if they dumped all their shares it would have required disclosure which there was none.
What also makes sense is you made up the number of $100,000 for their filings. No one knows how much they were to file.
Additionally no one knows anything about sales or lack there of as the company hasn't said jack sh*t about sales since the October 5th PR saying they shipped meters to Indonesia.
I do believe they are about to get current with their filings. It will be interesting to see what's in them. It's been over a year since World Moto said they shipped meters out without any follow up since then.
http://www.prnewswire.com/news-releases/world-moto-begins-moto-meter-shipments-300153711.html
I've always believed no meters were ever sold and the reason they stopped filing with the SEC was so they didn't get caught lying about sales. Looks like we'll see soon enough.
First you'd have to find them. Not sure what you would accomplish by suing them though. All their past SEC filings plainly state the company's business model requires government regulation which hasn't transpired yet. They also state the risks involved. They are pretty well covered by disclosure.
When/if they get current with the Nevada SOS we should see filings soon after.
Volume has dried up. You've said the same thing all the way to zero. In 5 years you'll still be saying the same thing.
I really don't understand the time frame involved for the audit. Keep in mind they filed the first 3 quarters so all that's new is whatever happened in the 4th quarter. The auditor has to audit the entire year but we know nothing happened until after October. So how long now?
Per FB, On August 23rd they said the auditors were auditing the 10K. On September 29th they said the auditors would be finished with the audit a week later. So per their posts just the audit of the 10K took 6 weeks and it still isn't finished.
I received this email on 04/18/16 -
Dear B:
The Company intends to file the 10KSB, and is working on it.
It is taking longer than as anticipated, and we don’t have a definitive date.
In 6 more days they will have been working on the 10K for 6 months. At what point do we not admit what is being said doesn't match what is actually happening.
And you're basing your opinion on....?
What exactly have you read or learned about World Moto that leads you to believe they will be 'cash flow positive' in 12 months?
Another new first for FARE.
A zero volume day.
Yes it seems that way.
But why does Patrick continue to update the board here. He is no longer an adviser for the company. Idk dkl. For whatever reason I believe they will bring their filings current. If they do .012 is break even for me.
You think if World Moto actually does $10,000,000 in revenue per year their pps would only go to .002? Your math is way off.
If they don't get that stop sign off there you will be buying in the triple zeros again soon!
World Moto's comments are always ambiguous. If Patrick was contacted by the auditors today (yesterday?) that sounds like the audit is still not completed. They said awhile back that once the audit was completed it would still take a few days to file.
Looks like my TD Ameritrade account is still trading.
The auditor is probably in Florida bracing for a hurricane.
If the auditors contacted Patrick again today I think it's safe to say we won't see the filings this week.
Some brokers are still processing trades but Fidelity is most likely stopping you because of the stop sign. I think that's kind of the point..
Of course you do. Who cares about stop signs and OTC warnings.
OTC put the stop up 6 months after the 10K was due. Oct 1st was Saturday so the new designation went into effect yesterday.
Stop sign happened when they went 6 months without reporting.
STOP
'This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky'
According to their website it's $3K to bring it current.
I posted a reply about a month ago from World Moto about why their licenses are in default. They stated they intend to bring them current when they file their K and Q's.
This is easily discredited. The current pps is practically trading at zero. It is literally worthless stock right now. The trade volume is also at an all time low. If those weren't enough to convince anyone, there are still 3 BILLION authorized shares which have yet to hit the market. If 'they' really wanted cheap shares they can easily flood the market with billions of additional shares. The concept of holding back the company's success for years because they wanted to drive the price into the ground to obtain shares from investors when they already have billions more ready to sell couldn't be a more wrong analysis.
He's been saying the same thing for over 3 years. It's all just a giant conspiracy theory.
If World Moto does get current with its filings we could see an increase in the pps. I don't think he's a believer, just an opportunist.
Patrick Smyth was the Corporate Advisor to World Moto until about 6 months ago.
Simple.
The only complicated concept here is honesty. Whatever the reason is for the K and Q's not being filed yet has nothing to do with revenues generated by the company.
Ok.. who's financing the meters?
Back in 2010 when the first rolled out the meter they mentioned being able to finance them but I've never seen any mention of a finance program since then.
Where is the proof their filings were $100K and that they have been paid for?
That's assuming a guy who makes $250/mo has $150 in savings to buy one. World Moto knows this math is a tough sell in poor countries and they have stated their objective in prior filings that this business model requires government mandates and subsidies.
I've always seen the cost of this thing as a problem for World Moto.
I would be shocked if they got $150/ unit for the meters. People keep forgetting the markets they are trying to sell in.
For example, let's say they sold a batch of meters in Lagos. The average annual income in Lagos is around $3,000 USD. That's $250/mo. You think the driver will spend $150 on a meter?
A decent motorcycle in Lagos is less than $1,000.
The average annual income of a cab driver in the US is $30,000 or $2,500/mo. Do you think a cab driver here in the US would spend $1,500 on a taxi meter? It's the same percentage of income.
Col it was you who threw out the $100K figure to bring filings current, not World Moto. That style of writing differs from all of Mark's previous emails. I don't believe Mark wrote that email.
I bought my shares 3 and a half years ago. I need a home now.
Actually I am homeless. So my comments make sense.
Correction. It WAS a business. No proof it exists any longer.
World Moto doesn't have a board room.