World Moto, Inc. (OTC:FARE) f.k.a. Net Profits Ten Inc Favorable PCT Review – Market not Impressed

World Moto, Inc.(OTC:FARE) f.k.a. Net Profits Ten Inc was touted by Awesome Penny Stocks (APS) in late December – early January. Now the pump job is over and FARE has to fend for itself.

Today the company issued a press release, but took a hit in early trading going down as far as $0.078. It has recovered some ground and now it’s trading around $0.08, still down about 10%.

The press release is about a “favorable” review from the Patent Cooperation Treaty (PCT) Examiner. That doesn’t mean FARE will definitely get a patent anywhere, but it suggests there’s little chance of significant objections.

While the favorable review is a positive development, it isn’t a particularly significant one. The market reaction so far suggests FARE will indeed need a more substantial piece of news if it is to sustain its current price level.

Looking back at the previous “picks” of APS, the number of companies which after the pump actually went on to become successful and profitable is no more than 0. Right now APS is pumping Swingplane Ventures, Inc. (OTC:SWVI).