World Moto Inc (fka FARE)

[alien42]

in case anyone hasn't figured out the reason for the recent action...

"During January and February 2016, we entered into three convertible promissory notes for an aggregate principal amount of $117,602. The notes are convertible into shares of our common stock at 60% of the lowest trading price of our common stock during the 20 trading days prior to the conversion date. The notes earn an interest rate equal to 8% or 10% per annum and mature one year from date of issuance.

During February and March 2016, we entered into three convertible notes for an aggregate principal amount of $105,750 with a $10,500 original issue discount. The notes are convertible into shares of our common stock at 48% of the lowest trading price of our common stock during the 20 trading days prior to the conversion date. The notes earn an interest rate equal to 10% per annum and mature one year from date of issuance.

During January 2016, we entered into two convertible notes for an aggregate principal amount of $118,397 to repay two convertible notes and accrued interest discussed in Note 6(i) and Note 6(j). The notes are convertible at 60% of the lowest trading price of our common stock during the 20 trading days prior to the conversion date. The notes earn an interest rate equal to 8% or 10% per annum and mature one year from date of issuance."