SOURCE: World Moto, Inc.

World Moto, Inc.

February 25, 2014 06:19 ET

World Moto Updates on Its Pre-Tender Submission for 90,000 Moto-Meters™ in India

NEW YORK, NY--(Marketwired - Feb 25, 2014) - World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that its pre-tender for 90,000 Moto-Meters™ in India is advancing and that the Company is currently awaiting final tender documentation to be prepared and submitted to the Government of Tamilnadu. 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™.

Amtex Systems Inc. noted to the Company that the presentation went well at a Ministerial level with the Government of Tamilnadu. It also commented that the technical unit of the tender team will be meeting this week to prepare the tender documents for World Moto. Once those documents have been submitted, it is expected that a decision on the vendor will be made. Following the decision, the successful vendor will receive an order from the government within approximately 3 months.

Tamilnadu is one of the most prosperous and technically advanced provinces in India with its capital, Chennai, having more than 100,000 3-wheeled Auto Rickshaws. Auto rickshaws are a common means of for-hire transportation in many countries in the world and are an essential form of urban transport in many countries. Please visit the wiki page at http://en.wikipedia.org/wiki/Auto_rickshaw for more information.

The Government of Tamilnadu has decided to implement the mandatory use of fare meters on all auto rickshaws. As such, it has promised to provide a free, government subsidized, GPS based fare meter for up to 90,000 auto rickshaws. The government of Tamilnadu has made a specific budget allocation for the financial year starting April 1, 2014 for this program.

World Moto's CTO, Chris Ziomkowski, again noted that, "Auto Rickshaws are advanced motorized versions of the traditional human powered rickshaws that have been around for centuries, and are now being built by leading international manufactures such as Vespa. Our patent pending Moto-Meter™ technology provides numerous advantages over existing, legacy fare meter solutions for auto rickshaws, and we are confident that a successful bid to provide Moto Meters™ in Tamilnadu will lead to a countrywide adoption of our technology that could reach into millions of units."

While the Company cannot make assurances that it will be successful in its bid to provide Moto-Meters™ to the government of Tamilnadu through its vendor partner Amtex Systems Inc., it believes that it has unique value propositions and the best product available and will aggressively pursue this opportunity.

Although the auto rickshaw market is only a small fraction of the size of the motorcycle taxi industry, it still represents an excellent opportunity for World Moto.

Important notes regarding the Moto-Meter

The Moto-Meter's life expectancy/repurchase cycle when used with auto rickshaws is estimated at four years.

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 the vast majority 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, and last month, Mexico officially signaled its intention to issue the patent as filed, with no changes required on any of its 28 claims. The remaining 59 countries are currently in the substantive evaluation period and are expected to complete their investigations within the next 4 years. Based on its success in Nigeria and Mexico, and its original favorable review from the Patent Cooperation Treaty Examiner, the Company expects ultimately to be awarded a patent in every targeted jurisdiction.

Recent press releases

Selected to Submit Pre-tender (Jan 14):
http://www.marketwired.com/press-release/World-Moto-Selected-to-Submit-Pre-Tender-for-90000-Moto-Meters-in-India-OTCBB-FARE-1868760.htm

Yes (Feb 24):
http://www.marketwired.com/press-release/World-Moto-Ready-to-Enter-a-Multi-Trillion-Dollar-Market-OTCBB-FARE-1881795.htm

Achievements of 2013:
http://www.marketwired.com/press-release/world-moto-celebrates-historic-achievements-2013-prepares-significant-revenues-2014-otcbb-fare-1865468.htm

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™. 

Products/Services:

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 or any necessity delivered anywhere in less than 15 minutes. Yes™ is "Your e-service."

Videos:
Moto-Meter™: http://www.worldmoto.com/videos.php
Wheelies™: http://www.evenbiggerthing.com
Yes™: http://www.worldmoto.com/yes.php

World Moto web: http://www.worldmoto.com
Facebook: http://www.facebook.com/worldmoto

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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