World Moto Preparing Verification Build on Moto-Meter(TM)
Marketwired
NEW YORK, NY--(Marketwired - May 27, 2014) - World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that it is preparing to commission the verification build for its flagship product, the Moto-Meter™. 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™.
The verification build, or v-build, is the first automated assembly process of a production electronic device. The build usually encompasses between a few dozen to as many as 100 units. The goal of the v-build is to establish a reliable factory process that can be used to produce thousands of units with high yield and repeatable, high quality. Where mature assembly processes may experience production yields of 99% or more and at rates exceeding many thousands of units per day, the v-build typically results in only a few units per day as assembly line matters are sorted out, components are inspected, operators are trained, and testing procedures are refined.
Entry into the v-build process marks the transition from development to production, and additional engineering time generally shifts from product modifications to the continued development and refining of tooling and test fixtures necessary to guarantee the high quality required for mass manufacture. Over the coming weeks, the Company will work closely with its manufacturing partner, DMC Corp (154) Co., Ltd., to complete the verification build and slowly ramp up production and distribution to qualified customers. The first units available from the v-build will be sold directly to motorcycle taxi fleet operators who have expressed a strong interest in working with the Company to authenticate the rugged design and suitability of purpose for which the Moto-Meter™ was constructed.
Chief Technology Officer Chris Ziomkowski stated, "The whole team is very excited to be moving into this phase. We have spent more than a year refining the original design, including adding a substantially upgraded display and dramatically enhancing its ability to withstand pounding rain, sandblasting road dust and swarming insect impacts at high speed. We also redesigned the electronics to meet all applicable regulatory requirements in most localities around the world and completely overhauled the external sensor design so that it can fit on many different classes of vehicles. The upgrades have given us a product that has dramatically exceeded the expectations we had at the beginning. It is truly a world class device ready to make an impact on the world."
CEO Paul Giles stated, "It will be very satisfying to see the first Moto-Meters™ come off the assembly line. Their presence in the streets is the trigger that will finally spark the Company's exponential growth."
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 Your Convenience Store. Delivery in 15 minutes or less. Shop for popular food, snacks, beverages, household supplies, personal care, healthcare, and pet foods. Want it now? Yes™.
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, use of proceeds and size of market for Moto-Meter. 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.
