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Finishing in the green doesn't really pack much punch these days. Notice no dilution or after hours Form T trades today, and we finished up. I'm grasping for straws but I'll consider this to be positive.
Yes. That should get me close to breaking even.
Patternseeker, do you have a split personality / dual handle?
WM has no orders to fill. Why would Krystal have meters rolling off the assembly line? You're putting the cart before the horse.
Another 21MM in after hours Form T trades.
I expected him to say positive things about WM and it's future, he can't say anything else. He clarified 'shipping' for me as making small sales for meters to be tested and that they are negotiating larger sales at this point. So yes we'll see if they 10K reports any revenue. If it does I can't imagine it will be much but at least it would verify they have in fact sold a few.
I can't imagine seeing any worth while revenue until the 4th quarter if they do succeed in making sales and there are a lot of convertible notes due between now and then.
Yes it's tough watch. This was my first investment in penny stocks and it's been an educational journey for sure. Thankfully I do better in real estate.
Col, I don't have the ability to respond to PM's and I rarely check them so I apologize for not responding to your last couple messages.
To answer your last message yes I did contact Patrick and he responded quickly with positive feedback about the company. He thinks the prospects for the company look good and sales will get them out from underneath the convertible notes.
In all fairness these aren't normal trades to follow. 108MM shares traded yesterday with more pressure on the buy. Under normal market conditions the stock price should have finished in the green but with all the shorting and dilution occurring it didn't. If WM doesn't succeed in selling something only the shorts and the toxic funders will profit on this moving forward.
Anyone else notice the 24MM in after hours form T trades today?
https://incrediblepennystocks.wordpress.com/2013/06/25/incredible-penny-stocks-what-is-a-form-t-trade/
80 million and counting. I don't think it's a coincidence that share dilution and a new PR happen on the same day.
Thanks Sewer. I've never been on the yahoo board.
I think the point I'm missing is I have no idea who Tom Weismann is.
I'm not a litigious guy and I don't profess to be a law expert. But I'm trying to understand how all this will unfold. So the DOJ, FBI, SEC, US Attorney's office, Interpol, are all going to come knocking on World Moto's door and they are going to produce a Moto Meter, Wheelies, all their Apps and software, and then what? Will they be charged for their inability to sell their products?
We all know you are a single mid forties white guy living in your Mom's basement. No need to pretend.
Why would WM be mass producing meters without a contract to sell them? Am I missing something?
Col, I know I won't change your mind with any of this but have you considered that maybe there is a reason they use language like shipping meters instead of selling meters? Why do they say they shipped them?
You have asked them to disclose numbers and they state their policy. What policy? Do you really think a new start up company has a policy not to disclose sales to it's shareholders? Does that sound like a reasonable policy to you?
They have issued 4 PR's regarding 4 MOU's and all 4 use the same language -
"The MOU authorizes the distributor of retail and consumer merchandise to immediately begin marketing the Moto-Meter™ in the assigned territory as an authorized partner of World Moto, and allows him to purchase the Moto-Meter™ at a specified price, with preferred lead times for orders of initial stock."
You couldn't make that any more lawyer proof than that. They couldn't have written that any more vaguely if they tried. It even spells it out, it allows him to purchase. It says nothing about purchases only that he can purchase.
It makes more sense to me that they shipped meters out to a few select distributors to test them out. That's great news if they do in fact sign a contract to purchase them but there is no PR that says they sold anything. Nothing. Nada. They language they use is designed to make you think that. If they actually made sales they would disclose it and there is no reason or policy for not doing so.
Look at it another way. releasing a PR stating they have finally made sales and will be reporting revenue would bring all eyes on this company, increase investment in it and raise the stock price. WM has already disclosed they have no money. This would solve their cash problems, would it not?
The 10Q and 10K will be out soon enough. If revenue is reported then it will be obvious that they intentionally let the pps crash by not disclosing it and if there is no revenue then it confirms they have mislead you with word games to make you think they did. Either way it's hard to come up with a scenario to like how this company handles it's business.
Why waste your time. He/she has fabricated every single post on this board.
Go back and read my post. There are no sales.
Col there are no sales numbers that's why none have been released. No one, no company, none. Would opt to not make public their initial sales of a brand new business when for 3 + years shareholders have been waiting for a return on their investment.
Col I hope they can make something happen just as much as you do but the facts are in the SEC filings not in the PR's.
Like iongreen said it would not surprise me to hear they finally landed a contract. This news is long overdue 2016 has to be their year.
Try not to laugh too hard.. but I think they put out great PR's considering they have nothing to say. WM won't make it far without regulation of the moto-taxi industry. Unless and until that happens we will just keep getting more of the same MOU and patent approval PR's. When we see governments pass and enforce legislation WM will be positioned well to make deals. Hopefully their toxic financing doesn't sink them before that happens.
All good alien42
TD Ameritrade rains on my parade every day.
FARE
Qty Cost Mkt value* Gain ($)* Gain
919,231 19,848.95 919.23 -18,929.72 -95.37%
After three years of rain we are definitely due some sunshine. I too think they will surprise us all. I'm just not sure in what way.
I can tell you exactly why.
I invested 20K into this company in Jan 2013. My investment is currently worth $829.83. No it doesn't help being negative on a daily basis but I understand where it comes from. It also makes no sense to me, to cash out my $829 when there is still a chance however small it may be that WM can find a way to get the pps back up.
So here's the question of the day
About a month ago I stated an MOU was the same as an LOI. A letter of intent is a document outlining one or more agreements between two or more parties before the agreements are finalized.
With that in mind, how long should an MOU hang in the wind before sales are consummated? One month? Three months? Seems like anything longer than about 60 days isn't really an understanding of anything. Which we're rapidly closing in on.
At what point does an MOU either become relevant or just more corporate BS?
Nah.
We're good.
I agree I believe the o/s is currently around 1b as well but there have been no sales. If there had been WM would say they have made sales. Instead they say they have shipped products to specific continents. Think about it Col you know I'm right. Shipping and selling are two completely different statements and management knows disclosing sales will increase the pps. At the end of March they will file a late filing notice and sometime in April we will be able to verify no revenue. We're almost there and will know soon enough.
That was probably around the time they announced revenue from that Wheelie sale.
I don't believe we need to revisit the challenges facing WM in selling its App and Meter products but if they do actually succeed in making sales they would be in markets other than Thailand.
One question I have is how does Uber break into the Bangkok market with cheap, set fees in competition with the Taxi mafia?
This has to go down as the most bizarre poster I've ever seen.
I have the right version of the app Sewer. I just tried to login again and was able to successfully get in and play around with it. No drivers in Scottsdale but at least it's working.
Ditto that RR
Agreed Sewer. But even with a government subsidy I think they are pricing themselves out of the market. Whatever market there is.
When/if they do make sales I have serious doubts they would be able to get $135 or even $100 per unit in the markets they want to serve.
75% of trading has been on the buy side today. What's your definition of a run...
There are no facts regarding anything criminal. Many investors are legitimately upset at the investment they made 1-3 years ago that is now trading at .008. Safe to say we would all like to see WM post revenues.
I picked up on some of the same points. I listened to his revenue answer twice and noticed he attempted to answer revenue for the taxi operator, not WM. I initially thought the interview was contrived until I heard him stumble over many of his answers.
All the PR's released so far in 2016 should have been news that raised the pps above .10. The toxic financing is killing this company.
The only thing that's changed is the bullish wedge is now 4 years in the making.