NEW YORK, July 29, 2015 /PRNewswire/ -- World Moto, Inc. (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company"), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced Krystal Microsystems (Krystal), an experienced contract manufacturer in Thailand, is commissioned to begin the first production run of the Moto-Meter™ immediately.
"Our agreement with Krystal marks the beginning of commercial Moto-Meter™ production and sales," said Paul Giles, CEO of World Moto. "The Company can now begin fulfilling purchase orders and focus on growing sales."
Krystal Microsystems' engineers are currently preparing the assembly line and manufacturing process for production builds of the Moto-Meter™. Shipping is expected to begin in 6-8 weeks.
Giles continued: "After a detailed analysis, we selected Krystal because of their ability to meet all of our requirements—including line availability, lead times, speed of expansion, technical expertise, and terms and pricing. We look forward to shipping product and seeing Moto-Meters in operation around the world."
Krystal Microsystems is a contract manufacturer and design company located in the Navanakorn Industrial Estate in Pathumthani, Thailand. Led by a veteran Silicon Valley management team with more than 50 years of hands-on experience in product development and manufacturing, Krystal employs a highly skilled approach to manufacturing and assembly.
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 automobiles, and Yes™, an e-hailing and on-demand services app. For more information on World Moto, please visit World Moto's website at www.worldmoto.com.
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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, release of HailYes™ Lifestyle app, 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.
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SOURCE World Moto, Inc.