SOURCE: World Moto, Inc.

World Moto, Inc.

February 01, 2016 11:32 ET

World Moto Signs MOU for New Moto-Meter™ Distributor in Rwanda

NEW YORK, NY--(Marketwired - Feb 1, 2016) - World Moto, Inc. (OTC: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company"), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced that it has signed a memorandum of understanding with a distributor in Rwanda.

The MOU authorizes the Rwandan distributor to immediately begin marketing the Moto-Meter™ in the assigned territory as an authorized partner of World Moto, and allows him to purchase the Moto-Meter™ at a specified price, with preferred lead times for orders of initial stock. World Moto has established Memorandums of Understanding as the preferred form of contract between the Company and distributors rather than more formal instruments in order to expedite agreements and offer flexibility to the distributor in establishing juristic entities and negotiating investment.

Motorcycle taxis are a favored form of transport in Rwanda, where public buses are unreliable and automobile taxis are expensive and much slower. It is anticipated that Rwandan Moto-Meter™ sales will begin in the capital city of Kigali, where the drivers operate under tight government regulation and have a close relationship to the state security apparatus. Motorcycle taxis in Kigali have often been used as an extension of the policing system to track down criminals and suspects, and the Moto-Meter™ is expected to allow the state to continue this tradition using more modern technologies.

Paul Giles, CEO of World Moto, stated, "There has been a continuing increase in sales inquiries from operators around the world as well as requests from distributors looking to service growing demand. It's important to note that these requests have all been unsolicited. And now that the Company has sufficient financial resources to launch sales promotion campaigns, we are more confident than ever that the Moto-Meter™ market is poised to enter a time of rapid expansion."

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About World Moto
World Moto is a technology company that designs, manufactures, markets and sells Moto-Meter products, devices that provide moto-taxi fare metering and other communication capabilities. The Company's Moto-Meter patents have been granted in 4 countries, with applications pending in another 56 jurisdictions. World Moto's products and services include the Moto-Meter™, arguably the world's first motorcycle taxi meter, Wheelies™, which display static and streaming media content on the wheels of motorcycles, and Yes™ (aka HailYes™), a smartphone app for on-demand transportation. For more information on World Moto, please visit World Moto's website at

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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, estimates of motorcycle taxi markets, release of HailYes™ apps, global ride-hailing market, growth of platform, target markets, product releases, product demand and, business strategy. 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.

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.

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