SOURCE: World Moto, Inc.

World Moto, Inc.

October 30, 2013 07:00 ET

World Moto Inc. Signs Multiple Letters of Intent for Distribution of Moto-Meter

BANGKOK, THAILAND--(Marketwired - Oct 30, 2013) - World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that it has signed multiple letters of intent for the distribution of its flagship product, the Moto-Meter, in countries that present a potential market of well above $200 million on meter sales alone. 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 Wheelies and the Moto-Meter, the world's first motorcycle taxi meter.

The Company has recently opened enrollments in its global distributor and partnership programs as part of its drive to ramp up sales in the first half of 2014. To date, it has signed letters of intent with qualified distributors in 7 countries that represent a combined market of more than $200 million dollars. The distributors were selected for their ability to both sell and support World Moto's products as well as to protect its brand image in strategic markets. The Company is in continuing discussions with dozens of further prominent distributors out of the hundreds of retail agents and operators that have contacted World Moto expressing interest in the Moto-Meter and associated products. The letters of intent include the authorization to sell and support World Moto's flagship product, the Moto-Meter, as well as establish priority for Wheelies and future products and services of World Moto.

In signing these letters of intent, World Moto marks another key point in its efforts to build a distribution network that spans the globe. The Company continues to receive inquiries from interested parties and operators within the sector, and is making rapid progress toward its goal of establishing itself as the only universally recognized brand in an industry with revenues approaching .7% of the global GDP and exceeding worldwide spending on advertising.

Having successfully engaged in this first step in establishing global distribution facilities, World Moto believes that it has positioned itself to capture a significant portion of the market it founded, namely the motorcycle taximeter market. Note that the World Bank estimates that the numbers of motorcycle taxis will increase by more than 50% over the next 5 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.

World Moto CEO Paul Giles stated, "The journey to profitable capitalization of this immense global market begins by establishing the distribution chains that will take us there. It's worth repeating that distributors are a long term investment in human capital that will help promote World Moto's vision on a neighborhood to neighborhood level. It's more than having a representative in one region -- it's having dedicated, full-time entrepreneurs on a grassroots level to grow the business and build relationships locally. It gives us a permanent, growing presence in these communities."

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. World Moto has created a new mobile medium by inventing the Wheelies and revolutionized the taxi industry by inventing the Moto-Meter, 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."

Watch the Moto-Meter in action on motorcycle taxis:

Wheelies updates:

Watch Yes:

To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY), visit our website at and Facebook page at 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.

Contact Information

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    World Moto, Inc
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    Telephone: (646) 810-8781
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