This was his response, if you notice it is included with the s1, different than the s1a, as far as I can see we are still waiting for approval!!
Dear Mr. Xxxxxx
The Company recently filed an amended S1 Registration statement as part of its previously announced $1 million financing through Aegis Capital. As a result, we have been advised by counsel not to release news until such time
as the registration statement becomes effective as it might slow the process down. However, we can share the following:
Our recently amended S1 registration statement filed on August 7th, 2014 noted the following:
On January 14, 2014, we were asked to file a "pre-tender" document to Amtex Systems Inc. for submission to the Government of Tamilnadu Province in India for up to 90,000 units of our proprietary Moto-Meter™. The Government of Tamilnadu has decided to implement the mandatory use of fare meters on all auto rickshaws. As such, it has promised to provide a free, government subsidized, GPS based fare meter for up to 90,000 autorickshaws. The government of Tamilnadu has made a specific budget allocation for the financial year starting April 1, 2014, for this program. We attended a pre-tender meeting with the government on January 15, 2014, where we presented the company profile and our patent pending Moto-Meter technology. World Moto filed an RFP type document and the successful vendor will receive an order from the government by approximately the end of May 2014.
The government of India recently elected a new leader, and during the election period, there was a delay in the tender process. We believe that the tender process may be about three months behind and we expect to hear from Amtex Systems Inc. who is managing our interests in the tender submission by August 2014.
It’s the end of August, however we are not concerned that we haven’t heard anything yet as this seems to be how the world turns (slowly) in that part of the planet.
With regard to other operations, things are progressing well.
Moto Meter:
The Moto-Meter is currently in the verification build stage and we anticipate rolling out the Moto-Meter to certain motorcycle-taxi operators in Indonesia, Vietnam and Thailand by the end of the third quarter of 2014 and in Brazil during the next 12 months.
YES
The Yes service has been going through testing and is now being launched with our first customer, Mobile Advertising Ventures, Ltd. in Kuala Lumpur, Malaysia. We expect Yes to go live in in the third quarter of 2014 in Kuala Lumpur, Malaysia. We also intend to launch Yes™ over the next 12 months in Thailand and Cambodia.
Wheelies
We have also successfully completed a pre-production version of Wheelies and have successfully completed testing. We anticipate the limited production and optimization stage for Wheelies to last approximately 6 months, after which full commercial production will commence by the fourth quarter of 2014 in Thailand.
We look forward to updating you as soon as we can with more news.
Regards,
Patrick Smyth
Corporate Communications | World Moto Inc. |
A publicly traded company OTCBB: FARE
IMHO this is a strong buy at these levels!! When the meter is ready, which could be any day now, this thing is going to take off in a large way!!
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