Hailing it’s way back into the top 20 OTC stocks traded, the once pumped by Awesome Penny Stocks World Moto, Inc. (FARE) is at it again and baiting new fish this time around. Even prior to announcing Monday that they were awarded a patent on the Moto-Meter technology until 2033 in Nigeria, FARE stock had been resurfacing from its depths of the high .03’s with Friday having been a loading session. With a fat fingered 2.7 million share block on the ask at the end of today’s session, the meter may be running, but the money to pay for the ride is quickly becoming exhausted.
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FARE Stock Quote
Market Cap: 28.09M
Last: 0.0743 ▲ +0.0175 (+30.81%)
Dollar Volume: $350,457
Issued and Outstanding: 378,033,149
14-Day Rel Strength: 85.29%
1st Resistance Point: 0.084
1st Support Level: 0.0607
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Basing false hopes on anything more than a quick flip, investors of World Moto’s FARE stock got a surprise visit prior to Halloween from company CEO, Paul Giles. In announcing multiple Letters of Intent for distribution of Moto-Meter, Giles stated: “The journey to profitable capitalization of this immense global market begins by establishing the distribution chains that will take us there.”
Correction: The journey to profitable capitalization begins with actually having more than just a fraction of the revenue rights when the year finally comes around that the motorcycle taxi industry can afford to install the equipment. The reason why this type of public transportation even exists is because the economies in the targeted countries is so strangled that owning your own motorcycle provides little to value compared to basic survival.
In any case, anyone who has looked into the SEC filings for World Moto and not just their glamorized photo-bombing on Facebook can see that not a penny has been earned yet by the Company. It’s nearly a year now since Awesome Penny Stocks took FARE stock under their wing for a 2012 closing pump and very little as changed.
Future PR’s to help push FARE stock could include Brazil and/or Indonesia with plenty of fluff to throw in the announcement as was with the Nigeria one from Monday. With the SEC hammering down the nails in the APS coffin, seeing their old pumps live up to old tricks for short runs is likely to be an ongoing occurrence.
About FARE Stock
World Moto, Inc. is a development stage company that plans to establish ourselves as a company that designs, manufactures, markets and sells the Moto-Meter products, which are devices that provide moto-taxi fare metering and other communication capabilities.
Click here to view the SEC filings for FARE.
Click here to view the website for World Moto.
Last 5 Trading Sessions:
There won’t be any penny stock alerts going out on FARE stock ever again which means sifting through the iHub spewage will be left for interpretation. With some half decent support levels to it, he few hundred dollars traders are gambling with right now on FARE seems like a fair play until the cork gets pulled for a mini money grab.
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