World Moto, Inc. (OTC:FARE) f.k.a. Net Profits Ten Inc Sinks Deeper

After Tuesday’s disastrous performance of World Moto, Inc. (OTC:FARE) f.k.a. Net Profits Ten Inc, some thought it would bounce. It did, but that only lasted about an hour. After that it sunk even deeper.

In the end FARE closed down another 19.48% at $0.139 on 61 million shares. This may have driven both the company and the pumpers to desperation.

The pumpers from the Awesome Penny Stocks (APS) group usually just drop a pump when it starts crashing. The last email APS sent on TagLikeMe Corp (PINK:TAGG) was on the morning of the second day it dropped. In this case APS sent another email after the close.

The company itself is trying to stop the drop. Despite the fact that FARE has very little money, the management saw fit to pay $5 thousand for coverage by a research firm. Most of the time such paid reports have a very short-lived effect if any. Those that care enough can check the track record of this particular “analyst.” Suffice it to say his services have been used in other pump jobs.

FARE also issued a press release about some supposed discussions for mandating the use of FARE‘s Moto-Meter within Montes Claros, Brazil. Even if we disregard the fact that FARE is an APS pump, this press release raises the question about financing again.

Additionally, FARE filed an amended 8-K saying it will need $2 million in financing before sales can even start. Even if the paid report, the pump emails and the press release manage to give one or two green sessions for FARE, ultimately it is doomed to follow in the footsteps of all previous APS pump jobs.