SOURCE: World Moto, Inc.

World Moto, Inc.

April 07, 2014 08:40 ET

Moto-Meter™ Patent Clears Final Hurdle in South Africa -- Africa's Largest Economy

NEW YORK, NY--(Marketwired - Apr 7, 2014) - World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that its patent application in South Africa is scheduled for publication and grant on April 30. Changing the way the world goes around, World Moto is a global authority on the $500 billion dollar a year motorcycle taxi industry and inventor of the Moto-Meter™, Wheelies™, and Yes™.

Africa is home to the highest population of motorcycle taxis on earth, where vast fleets ply the streets to provide essential mobility for up to half a billion people each day. World Moto's success in securing patent protection for the Moto-Meter™ in Africa's two largest economies, gives it a commanding position to access the vast opportunities from Nigeria in the north all the way south to Cape Town.

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 moto-taxi and auto-rickshaw fleets and population. Nigeria was the first locality to complete its investigations and issue a patent. South Africa is now the third country to grant or signal its intention to grant a patent, after IMPI in Mexico announced its intention to grant a patent two months ago. The remaining 58 countries are currently in the substantive evaluation period and are expected to complete their investigations within the next four years. Based on its success in Nigeria, Mexico, and South Africa, and its original favorable review from the Patent Cooperation Treaty Examiner, the Company expects ultimately to be awarded a patent in every targeted jurisdiction.

South Africa is one of many countries where distributors and operators have expressed strong interest in the Moto-Meter, and discussions have focused on introducing the product not only in South Africa but also in cities across Africa.

About South Africa: South Africa is a country located at the southern tip of Africa, and with close to 53 million people, is the world's 24th most populous nation. South Africa is ranked as an upper-middle income economy by the World Bank, and its economy is the largest and most developed in Africa, as well as the 28th largest in the world. South Africa maintains significant regional influence, and is a member of the G-20 major economies, which cumulatively represent more than 80% of the world's trade and nearly two thirds of the world population.

Note that the World Bank estimates that the numbers of motorcycle taxis will increase by more than 50% over the next five years. Also note that saturation of the Moto-Meter™ is projected to reach 100% within three years of introduction in any given market and that its life expectancy/repurchase cycle is estimated at three years. Market estimates do not include potential revenue from the Company's other products and services, such as the Wheelies™, Yes™, mobile commerce, advertising, accessories, servicing, calibration and all associated offerings.

World Moto CEO Paul Giles stated, "The economic value of our Moto-Meter™ patent is enormous. Just the single continent of Africa has the ability to generate well over $20 billion in Moto-Meter™ purchases alone during the patent's lifetime. Now with protection in both of the two largest African economies and the remainder of the applicant countries expected to follow, the Company is certainly looking forward to sales from this region in the coming year."

Copy of the Moto-Meter™ patent for South Africa will be posted on World Moto's Facebook page on April 30th, 2014.

About World Moto

World Moto, Inc. is the global authority on the $500 billion a year motorcycle taxi industry and creator of the Moto-Meter™, Wheelies™, and Yes™. 


The Moto-Meter™ is a landmark device that CNN, Newsweek, Wired, Moneylife, among others, are calling "the world's first motorcycle taxi meter" and "world's first portable taxi meter" and "first-ever black box for motorcycles," while the Times named it "one of the most significant innovations of this decade" and Fast Company declared it "The First Real Taxi Meter Innovation in 100 Years...a $3 billion dollar idea."

Wheelies™ display static and streaming media on the wheels of motorcycles and automobiles, providing a unique and beautiful new mobile medium for advertising, broadcasting, self expression and publishing. According to Fast Company, Wheelies™ "invents a new kind of screen -- and one that's potentially ubiquitous...It's best seen to be believed."

Yes™ is a personal retail and delivery service that makes local commerce as convenient as the Internet. Simply tap an app and get refreshments, toothpaste, diapers and other necessities delivered anywhere in less than 15 minutes. Yes™ is your e-service.


World Moto web:

To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY), visit the Company's website and Facebook page, linked above.

Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, projections of worldwide sales of World Moto, Inc's products and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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