I think so. It looks like they used Worldmoto shares to help purchase the new company.
World Moto Inc. (OTCMKTS:FARE)
LAS VEGAS, NEVADA, UNITED STATES, April 14, 2022 // -- World Moto (OTC FARE) announces the acquisition of All Your Foods USA, Inc., as a wholly owned subsidiary from Mera Pharmaceuticals, Inc. “Mera” (OTC MPRI).
Under the terms of the agreement, Mera shall receive 32,500,000 shares of World Moto to be distributed to the shareholders of Mera as a pro rata dividend. Paul Giles and Julpas Kruesopon shall resign from all officer and director positions with World Moto and Benny Doro and Rafi Markarian will be appointed as directors of World Moto.
All Your Foods USA Inc. is a direct-to-consumer food subscription company utilizing a propriety software that currently serves growing markets in the continental Unites States. The company has the operational infrastructure, logistics management and delivery network which have been duplicated from its successful Canadian sister company, Super Fresh Meals Canada Inc. The company’s software tracks meals from ordering, ingredient acquisition, meal preparation, delivery, and payment. This key advantage allows it to streamline its new revenue-producing assets delivering fresh ready-to-heat meals.
Benny Doro, CEO of All Your Foods, commented “Our technology manages membership registrations, meals, and deliveries. The Company’s goal is to expand the delivery radius to ship to most markets within the continental states from our large facility in North Carolina and partner facility in Denver by Autumn 2022. We continue to look at joint venture and acquisitions of smaller direct-to-consumer food production and delivery services, thereby reducing delivery times and costs.”
The global meal kit delivery services market size was valued at USD 10.26 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.0% from 2021 to 2028. Dining in is becoming more popular than dining out. Boomers, as well as millennials, increasingly prefer staying at home and cooking or ordering in rather than spending money at restaurants. Consumers are also making fewer visits to restaurants and are opting to stay at home. The subsector, ‘Heat and Eat’ meals, is now driving the market in new users as consumers turn to quicker and fresher options for dining.
