Replies to post #6992 on World Moto Inc (fka FARE)

[Reters]

Some Concerns, can you address them

Authorized shares at 500million?
1) Separately from the terms of the Asset Purchase Agreement, the board of directors and shareholders holding a majority of the outstanding voting capital stock authorized on September 25, 2012, an amendment to the Articles of Incorporation of the Company to increase the authorized capital stock from 100,000,000 shares of common stock, par value $0.0001, to 500,000,000 shares of common stock, par value $0.0001 and effect a forward stock split of the Company's issued and outstanding shares of common stock on a 181 for 1 share basis (the "Forward Split"). In connection with the Forward Split and in anticipation of the acquisition of Assets, Mr. Marlon Liam contributed to the capital of the Company an aggregate of 3,997,675 shares of common stock on a pre-Forward Split basis, retaining 420,825 shares of common stock on a post-Forward Split basis. As a result of the Forward Split, on November 8, 2012, a time before the closing of the purchase of the Assets, there were 146,688,825 shares issued and outstanding.`

2) Who owns/is selling these shares? What MM are they using?
o World Moto’s moto-meters (the “Assets”) in exchange for 224,597,666 shares of common stock valued at $100,000, representing 60% of the outstanding shares of the Company’s common stock and the assumption of a specific debt of World Moto in the amount of $75,000, which was converted into 576,923 common stock at a conversion rate of $0.13

3) 41million shares to be sold as of November 14, 2012, ARE THEY DONE? WHAT MM are they using?
As of November 14, 2012, the Reporting Person had shared power to vote or to direct the voting of, and to dispose or to direct the disposition of, 41,303,511 shares (or 11.034%) of the Issuer's common stock. The Reporting Person does not own any shares directly. The Reporting Person’s beneficial ownership, shared voting and shared dispositive power represents shares of common stock held by a corporation of which his spouse is a director