Aug 19.
Note.... They are very busy!!
Dear 7777,
About the filings:
"The US auditor is currently auditing the 10-K. Once the audit is done, the draft 10-K is revised (audited figures added), reviewed, finalized and filed. The audit is essentially the last main step before filing and it must be completed before the Qs.
The 10-K, Q1 and Q2 filings, like all filings, contain comprehensive information about operation, etc.
Note that in the past the company has distributed PRs in conjuction with the filings."
I asked about the Patents;
"Most MM patent docs were posted on WM's Facebook page.
After the filings, all originals will be re-posted there on Facebook.
FYI, the Moto-Meter Patent now covers 21 countries (and counting) representing 2 billion people and about 40% of all motorcycle taxis in the world. The countries are China, Dominican Republic, and 19 countries throughout Africa.
The attached image shows coverage in Africa as of May 1, 2016. We anticipate that map (and other regions) to go green:
World Moto has filed for patent prosecution of its Moto-Meter™ technology in 61 countries throughout Asia, Africa, Europe and the Americas. These countries were carefully selected to cover most of the world's mototaxi and autorickshaw fleets and population. With the addition of China, World Moto has now been granted patents in 38% of the targeted territory, with the remainder expected to complete their substantive examination periods in the coming months."
This is the response to dlk's comment from last week;
DLK;
"All of this money... They spent 1 million dollars over 3 years by 2011 to produce the meter...5 years later, nothing. Sad."
1) Wold Moto was a private company in 2011 and was funded by its founders/principals. All the information about its founding, etc., is there in the public filings.
2) It should be common knowledge that $1 million dollars over 3 years is a woefully small amount for a technology company to research and develop any kind of hardware/software device, let alone a first of its kind device that is as complex as a mobile phone as well as fully-rugged (definition below). (Not to mention, filing patents in 61 countries exceeded $200k.)
For example, hundreds of the world's top designers and engineers worked for 5-6 years to develop the first iPhone - at a cost exceeding $150 million. Ten years later the future iPhone 7 is not even semi-rugged.
"Rugged IT is a marketing term for hardware that is designed to operate in extremely harsh environments and conditions. There are three generally accepted levels of ruggedization: semi-rugged, fully-rugged and ultra-rugged. The levels describe a product's ability to survive drops, vibration, dust, immersion and extreme temperatures.
Semi-rugged devices, which are increasingly being called business-rugged by marketers, are usually enhanced versions of commercial off-the-shelf (COTS) hardware. The components are the same, but they are protected better. For example, a semi-rugged laptop might have a thicker case, a gel-mounted hard disk drive and a spill-resistant keyboard. Fully-rugged devices are designed from the inside-out to work in extreme temperatures, to be impervious to being dropped, to resist shocks and vibrations and to be dustproof and waterproof. A fully-rugged laptop may have a solid state hard drive, which has no moving parts, runs cool and doesn’t need for a fan. (another moving part that adds weight to the device.) Ultra-rugged devices, which are usually designed to meet precise specifications for military use, are made to handle the harshest environmental conditions. An ultra-rugged laptop can be left out in a sandstorm, frozen in a blizzard or sent on a vibrating rocket into space without any detrimental effects."
Why has the company stopped updating Face Book?
"I haven't been able to access the admin page and I am waiting for a response from Facebook. While they are one of the world's biggest and most advanced companies - they have zero customer service and are notoriously slow to respond to anyone other than a Fortune 500 company. "
Does World Moto have an address?
"As mentioned, the company was looking for a central location for the Thai subsidiary and it found one (better deal as well). The new address will be in the upcoming Qs and posted online thereafter."
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Kind regards,
Mark Green
Mark Green
www.worldmoto.com | World Moto Inc. | OTC: FARE
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