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| FARE > SEC Filings for FARE > Form 8-K on 11-Jan-2013 | All Recent SEC Filings |
11-Jan-2013
Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securiti
On January 8, 2013, World Moto Inc., a Nevada corporation (the "Company"), entered into a form of Securities Purchase Agreement (the "Agreement") and consummated a closing of a private placement offering (the "Offering") with an accredited investor for the issuance and sale of 3,703,704 shares of common stock of the Company (the "Shares") at a purchase price of $0.27 per share, for aggregate consideration of $1,000,000. The Company intends to use the proceeds of the Offering for general corporate purposes, including working capital needs.
The foregoing description is qualified in its entirety by reference to the Agreement filed as Exhibit 10.1 attached hereto and incorporated herein by reference.
The information disclosed under Item 1.01 of this Current Report on Form 8-K with respect to the Company's unregistered sale of the Shares is incorporated in its entirety into this Item 3.02.
In connection with the Offering, the Company sold 3,703,704 shares of Company common stock to an accredited investor for aggregate consideration of $1,000,000. The Shares were issued in reliance upon Regulation S of the Securities Act of 1933, as amended and the rules and regulations promulgated thereunder (the "Securities Act"), to an investor who is an "accredited investor," as such term is defined in Rule 501(a) under the Securities Act, in an offshore transaction (as defined in Rule 902 under Regulation S of the Securities Act), based upon representations made by such investor.
(d) Exhibits
Exhibit No. Exhibit Description
10.1 Form of Securities Purchase Agreement
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