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"Companies such as Delhi-based Precision Electricals and Sansui Electronics are among the companies that manufacture government-approved digital taxi meters"
http://economictimes.indiatimes.com/news/politics-and-nation/road-ministry-wants-uber-ola-to-calculate-fares-using-taxi-meters-not-gps/articleshow/53458047.cms
Thanks, you too Fox
They key is being able to pay the loans off before the note is due and stock conversion takes place.
They will double their money on all of these loans. Now you see that it isn't just one loan to WM that matters.
You can read up on convertible debentures for a better explanation of how these work.
I believe this is a tool one of our posters uses to track stocks. When a known toxic funder makes loans like these to small cap companies he then shorts them knowing the dilution will drive the pps down.
All of the loans made by Redwood, Dominion, Aegis, Union, etc. were cash loans to World Moto. Based on what they disclosed in their filings we know Chris and Paul paid themselves $200K per year. The company has had no revenues so their salaries were paid through these loans in addition to however much was spent on R&D.
The loans can be repaid in cash or converted to shares. No revenues have been made to repay the loans so now these companies are converting shares to be sold on the open market. This share dilution is why the pps has gone down so much.
World Moto only has one way out of this and that is to sell thousands of meters to pay off these loans.
That would require people to actually read the filings.
Mike, a few of us have been posting here for over 3 years, Sewer included. I took his post as being sarcastic and meant as a joke. I don't believe he meant for anyone to take him seriously. Others like GG check in about once a month and laugh at us for being bag holders. There's no place for personal attacks but we can all have a sense of humor, right?
And by the way I told the mods to leave your post up. You're welcome :)
Interesting day.
Maybe our next debate will be how Wheelies are going to be the next big thing.
Well.. They didn't develop an app and introduce it to the market hoping it would provide zero return.
I actually downloaded the app, flew to Bangkok and tried using it. Can you say the same?
World Moto has stated ride hailing is part of their business strategy. Here's the PR in case you missed it
http://ih.advfn.com/p.php?pid=nmona&article=67581214
HailYes is one of World Moto's products. You can download it from the App Store or Google Play.
I think you drank too much last night.
Money is loaned at 18%. The investor return is 12%. The point you seem to be missing is all spelled out in last year's 10Q's. Union Capital made loans to World Moto which they are now cashing in on.
"I’m happy to be in a lottery play compared to some guy who is advertising 18 points on Arizona real estate"
That's the best line of the day. You'd rather buy a lottery ticket than invest in real estate.
At least we identified the disconnect. Union Capital loaned World Moto money. They didn't invest in World Moto.
Offering investors a 12% return sounds like something Bernie Maddoff promised people but Union Capital making 100% ROI is stupid and they would never do that. Ok.
Why don't you call Union Capital and ask them what the average return they offer their investors is? (800)-261-9344
Better yet tell them you have $80,000 to invest and you're looking for 100% ROI in 12 months and see what they say.
You understand that Union Capital operates with other people's money, you do understand that much right?
You're either already drunk or you don't have a clear understanding of how companies like this work. I live in Scottsdale AZ. Union Capital is a company in Tucson which is a cowboy town about an hour and a half south of me.
One of my best friends manages money from a few of his friends. He has about $25,000,000 invested in real estate at 18%. He offers a 12% return on their money and collects 6% for himself. He turns their money over on average every 6 months and reinvests. This is how the real world works. This is how companies like Union Capital work. A 100% ROI on a 12 month note is great return.
Investment firms don't sit on the sidelines hoping for 5000% ROI's. That's ridiculous. Why don't you try calling Union Capital and ask what the average return on any given product they offer is.
Even if 80K was the profit, which it's greater than that, that would be a 100% ROI. invest much?
126,000,000 shares sold at today's share price is 163,000. Not even considering the discount that's far more than 50K profit.
Bingo.
This is just one of the many issues no one wants to talk about.
What's funny is that you don't understand why the value of your stock has dropped 95%.
The company is no longer reporting Col therefore you have no idea how good or bad their finances are.
The money was spent over a year ago. It's also only one of many similar loans they signed. There were hundreds of thousands of dollars borrowed. If you read the filings you would know this.
It doesn't sound like you've ever actually read any of the SEC filings. Take a few minutes and read the entire filing. Pay attention to Note 5 Convertible Notes Due and Payable. There is no if's about it. Read how much debt they have. Read how much cash they have and how long they expect it to last. Read the company's going concerns. This is World Moto talking. They tell you everything you need to know.
http://ih.advfn.com/p.php?pid=nmona&article=68184082
And filings.
Debt, revs and cash on hand are all disclosed in the filings.
If that were true then why has the stock dropped from .05 when they inked these loans to where we are today at .0013. It's called dilution and dilution does not increase the pps.
They need to sell about 10,000 meters and get their debts paid off to stop the dilution.
Think of how much better off financially the company would be if Paul and Chris hadn't been taking $200K per year out of those loans they took that are now adding to the stock dilution. $600K in 3 years.
The only positive spin you can put on this is the stock dilution was the result of loans made to WM which helped bring the meter to market.
The only hope they have is to make sales and pay off the debt.
The 13G filed today says it was filed because of events that happened today, 07/29/16.
I thought I remember someone saying these shares couldn't be converted while WM was on the Pink Limited. They may have filed today which allowed them to convert the shares.
Just my thought. Anyone else have an opinion?
Yep.
On April 16, 2015, the Company entered into a convertible note with Union Capital for an aggregate principal amount of $71,500 with a $6,500 OID and $8,125 in deferred financing costs for broker fees.
The note earns an interest rate equal to 8% per annum and matures on April 16, 2016. The note is convertible at 60% of the lowest trading price of the Company’s common stock during the 20 trading days prior to the date of conversion.
For anyone who wasn't around when WM first started funding themselves with convertible debentures, the pps was holding steady at .05 - .06. As soon as they inked these loans the dilution started and the pps dropped to where it is today. It's these loans and share conversions that have contributed to all of us losing money.
Question, why would they want to dump shares now with this news?
They loaned World Moto money. Selling the shares repays the loan plus a huge profit.
https://en.wikipedia.org/wiki/Death_spiral_financing
This stock trades on emotion. Not fundamentals. The pps isn't going anywhere unless they get current with filings and start reporting revenues. It's possible the right fluff news could get it up a bit but .10.. 1.00.. Will never been seen without big revenues. If the company actually did reach that level it wouldn't take much in the way of nerves to stay in as the company would be proven at that point.
10K - March 31st
1st 10Q - April 15th
2nd 10Q - August 15th
10K's are due 90 days after year end
10Q's are due 45 days after the end of the quarter
At this point Sewer I have no idea what to expect from these guys.
The only way the pps goes up is if they get current with their filings and there is something positive in them.
Only 2 days left in the month...
It was a sarcastic response
He jokingly said WM sold 200,000 meters and none of us know about it.
WM claims they can't tell us any news of sales outside of filings which they are no longer doing.
How can you say there has been no dilution when we don't have filings to verify?
The obvious answer would be since they've been bought out by Uber they no longer need an office, phone, employees or a business license. I mean, what other possible reason could there be..