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When a CFO quits, who knows what shape financials are in. My guess is that they had no cash to do an audit.
Sewer, I agree. No company has rocket sales first year, especially when they are introducing a new product that needs gov't approval. Many don't realize what it takes to crack a new market.
The company appears to have severe financial problems. An audit might take 3-4 months but not 6 months. Fishy company to be sure.
I've been buying in hope I will see a 2x to 3x bump with financials...hopefully I'll find out.
Maybe hundred MM sold, I doubt 1,000s. $15,000 plus revenue would be great for first year sales. In my years in sales, this is how it happens, IMHO
Business License is no big deal....what do they cost $40 ??...audits cost $100K plus! Pumpers/ Dumpers relax- either WM has some revenue or they don't. The Market will determine the proper share price.
My guess is we've sold 100 MM at $150= $15,000 to date. Very surprising there is absolutely no mention anywhere in the world of MM.
It will take a great deal of money to market MM....IMHO
50/ 50 chance you are right. FARE is not a wise investment. I'm involved because there appears to be a need for MM. Hopefully, we will find out someday soon.
Col, yes, "one positive PR" away. A positive PR would be:
1. MM Contract with a major city
2. Good financing to move company forward
Management needs to prove to marketplace they can market MM. Many, maybe most exciting new products FAIL due to poor management execution.
It's time for WM to either 'put up or shut up'...to date this company has been a total failure and a waste of time/ money for investors.
I've been adding shares for past six months. I like the story but hate managements execution.
I'm hoping WM has some revenue, but doubt it's much. With revenue, I'm hoping to see a pop in SP.
I'd be very happy with a 2x to 3x jump.
High RISK, maybe High RETURN.....who knows?
Col, why are you so positive about WM?
I think he was referring to past fillings. An audit alone takes a minimum of 3 months plus filling- maybe 15 weeks total minimum.
Cash, I agree it seems very strange absolutely no news from anyone testing product. I would think someone from around the world would be promoting the MM. Not a confidence builder.
cash, you could be right, but many see potential in the patents and potential market. My hope is that a deep pocket partner will help them penetrate market...or one city will see the advantage of meters and step up...a crap shoot at this time for sure.
All it would take is one city to place an order for MM and this would be game changer. The fillings will tell if this company is only a 'pump' or has a future.
I think it's smart for WM to concentrate om MM sales only. They wasted time/money on Wheelies and maybe YES- which is as a demo app.
Start up companies need to focus on just one product
Cayman, do you have any predictions on what we might see? Sales?
Cash- You could be right...did Col ever indicated what price he paid? I doubt WM would send a "free meter" to him, but maybe (?).
A wary investor might want to wait for fillings. For me, I'm betting the patents are worth far more than the $1m market cap, but I could be wrong- I certainly wouldn't recommend this stock at this time.
Col bought a MM
Yes, startups most always have misdirection, failed products, etc. Companies with good management regroup and find a way to succeed. We will see soon if WM has good management or is a scam. Funding is the key....IMHO.
A high risk, potentially high reward speculative stock...forget the pumpers, this is the only fact.
I think it's much better to be a skeptic until the 10's are released. There's a big difference in having a great product and executing on it. It's inane and naive to pump this company until we know what's going on.
If the company has signed a large contract this would be great and there will many buying opportunities in future....if sales are minimal the company could still have great potential and sp appreciation
Yes, the company needs lobbyist in every similar country- that's why you need millions to market WM. It may take years...that's why I don't think this is a get rich quickly company. Tech Companies normally have a five year marketing plan to penetrate a marketplace
Maybe, but what if they have sold just a few "seed meters" as their facebook posting seems to indicate. Strange that they haven't sold any meters in Bangkok, their home base? I would aggressively market mm, give away meters if necessary to create interest, etc.
We won't know how financially strong WM is until 10's. No tech company can grow without millions of dollars to devote to marketing.
This is not a get rich quickly company...however I do see a pop with financials.
I'm holding/ buying until 10's released. Know what you are buying- a start up introducing a new product in market. High risk, potential high reward.
We know they have sold at least qty 1 to Col. Hopefully, he isn't the only idiot
I think we will know if WM will be a success if they can execute in Bangkok. At this point they have been a total failure...? Does anyone know if HailYes is working in Bangkok?
"Simultaneously, the Company will begin an advertising push to sign up users for HailYesâ„¢, both in Thailand where it now enjoys exclusive status as the only fully legal motorcycle e-hailing platform, as well as around the world in cooperation with its licensees. The Company believes that these strategies will payoff for investors"
You could be right and there is nothing wrong in believing that. If there are sales, you will have many buying opportunities in the future. No one has a crystal ball and knows what is happening...except WM. I'm sure there are many issues...like out of money. A crap shoot for sure.
yes, some people (me) believe this is why the sp is so low...for me a buying opportunity. Exactly the kind of risk investments I like.
Yes, sales may be disappointing this year. My guess is $20K to $100K this year and potentially millions next year. It takes time to market a new product...still an exciting company.
I've researched this, none available for motorcycles. If Uber did make a MM look alike in countries not protected by WM patent....then WM can sell to the dozens of Uber's competitors. Competition is GREAT....grows the market, SALES 101.
BTW...introducing a new product takes years to produce and test! I've personally introduced many new products for HP and DELL, so please don't tell me I'm wrong.
maybe, but why wouldn't Uber or any of their competitors not want a meter to make their service of value to gov'ts. This is a high risk but potential high reward speculative investment.
Makes sense to me, that's why I'm long.
For one example- Uber wasn't approved for Bangkok, WM is. Others have shown other examples (India) that want meters to track fares. Why wouldn't any country not want meters so that they can collect fees...makes sense to me and that's why I'm long.
most anyone in business knows audits take 3-5 months- get real . The company just published on FB audits are still in process.
We know they have sales, patents around the world, potential interest by Uber or others...I'm optimistic I will see a significant ROI overtime.
With sales I see a market cap of $10M in the short term (a 10X ROI)...but I'm realistic it will take deep pockets to market around the world.
good point. I expect much more and at some point a massive RS. The best hope might be to sell out to a larger company.
If I was in VM Marketing, I would highlight the distributors we have signed up in various countries and highlight their efforts to secure gov't approvals. Also, Bangkok needs to have a formal roll-out as a MM showcase city.
It will take a huge amount of money to penetrate the market around the world, prepare yourself for major dilution. Not a bad thing if it grows the company.
Docx, management seems to be setting expectations that we may have just limited sales to date due to the long sales cycle. I think we will see a bump in sp even with small sales. Also, I think it's way too premature for some to speculate on a massive increase in share price. I've been in sales for 30 years, it almost never happens this way.
"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."
I agree, a company to watch. They have a long way to go before I would invest more money. Many things need to happen, audits, reverse split to move to NASDAQ to raise money, etc. etc. Not a high return company in MHO
Agreed, $1.00 per shares is way over the top- no one knows how many shares are outstanding, recent toxic funding, market acceptance, etc.
The market doesn't share your enthusiasm for this company. Why is that?
BTW- I'm long, but I don't know why this is a good investment. The market knows something I don't. I suspect because of toxic funding.
Why does this company have such a low market cap? What's wrong with this company?
Sales should provide a significant bump in SP. A major contract of course would be a blockbuster event.
This is very interesting from the FB update...PR release with filing...?
"The 10-K, Q1 and Q2 filings, like all filings, contain comprehensive information about operation, etc. Please also note that in the past the company has distributed PR's in conjunction with the filings."