I pasted some feedback posted this past Sunday from an investor asking questions at the World Moto Facebook page. Please visit their Facebook page for the full exchange.
World Moto is working at top speed on the Moto-Meter and Wheelies. The Wheelies product is a set of LEDs that create brilliant images on motorcycle wheels. Wheel LEDs are available for bicycles and are growing in popularity (several videos on YouTube have over a million views, see below for examples). The company will be releasing a demo video in the near future.
By and large, major progress is taking place, though most of the activities are invisible to investors. An example is World Moto's application and approval from the Thailand Board of Investment for promotion. (The terms grant World Moto 8 years of 0% corporate income taxes, followed by a 5 year period of 50% income tax relief. In addition, customs duties are waived for most imported equipment, and visa requirements for hiring foreign engineering talent are dramatically reduced.) Although the application was time consuming the results over time should prove to be well worth the effort.
Regarding financing, management is reviewing proposals and will make the best choice at the right time. Also, a management update will soon be released. If you have any further questions, please call investor relations or email invest@worldmoto.com
Thank you for your comments, insights and suggestions. The company is keenly focused on the Moto-Meter and executing its production on schedule. Emails from Moto taxi operators and potential distributors are a constant reminder. Without going into detail, the Wheelies product has the potential to generate advertising revenue in the near term, and also attract attention (media, etc.). And moto taxi operators are interested in the product as it gives them the opportunity to enhance their service and earn more income.
