Investor Alley Inc.

Transportation Industry Stocks on the Move: (OTCQB: FARE), (OTCQB: ECAU)


New York, NY -- (ReleaseWire) -- 01/24/2013 --World Moto, Inc. (OTCQB: FARE) is bullish after World Moto, Inc. announced that the Company has successfully closed a private placement for total proceeds of $1m on Jan 11th.

World Moto CEO Paul Giles stated, "We are pleased with this offering and its quick conclusion, especially when considering the offering price being at a premium to the current market price of our stock. These funds will ensure the successful implementation of our marketing plan."

World Moto has revolutionized the industry by inventing the Moto-Meter, 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."

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Echo Automotive Inc. (OTCQB: ECAU) - formerly Canterbury Resources Inc. announced the launch of its latest product offering, a multi-mode hybrid technology aimed directly at significantly improving the economic performance of fleet operations.

The Company, in its first public display, demonstrated its proprietary hybrid electric vehicle (HEV) technology under the EchoDrive(TM) brand, along with revealing a notable shift in hybrid philosophy with the introduction of multi-power source selection capability via the implementation of a high capacity BEV mode (Battery Electric Vehicle) system option.

Echo Automotive, Inc. develops technologies and products designed for cost-effective conversion of existing vehicles into highly fuel-efficient hybrids and plug-in hybrids.

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