Hi, It may be time to start paying some attention to WTAI again. Orginially CARH.
World Transport make an almost indestructible ABS-bodied, VW-beatle-lookalike pickup truck-style vehicle for third world countries, and sells you an area license and a mini-factory with which to produce them. They have multiple styles of bolt-on body structures, so you leave it as a pickup, or you can have a van, SUV, service truck, ambulance, taxi, an open-style city bus, etc., etc.
As I recall, they use the front-wheel-drive system build by Fiat originally designed for the Yugo.
Before the original CEO phurucqued everything up by fiddling with the stock (..he and that problem are gone now..), the US State Department went way out of there way to get these vehicles approved and into production in the Philappines, and elsewhere.
pcquote.com
John :-)
World Transport Authority (WTAI.ob)
*Makes an automobile called the "WorldStar" which costs under $7,000 dollars to own, has less than 500 moving parts, runs on three types of fuels, and boldly goes where roads turn to dirt.
The company is in the business of designing vehicles, and then selling licenses to nations wanting to develop their cars.
*This is from the WTAI's website: "The WorldStar automobile is a rugged inexpensive utility vehicle for developing nations around the world. As the Model T Ford and the Volkswagen Beetle revolutionized transportation in the United States and Europe –the WorldStar, made with fewer than 500 parts and incorporating the latest composite technology –will play a similar role in the developing economies of Latin America, Asia, and Africa. Every feature of this utilitarian vehicle is designed with the end-user in mind. It is affordable yet safe. It is strong, capable of transporting loads in excess of 1250 pounds, whether it be people, farm animals, produce, or construction materials. The WorldStar is tough, rugged and practical because roads aren't always paved and there are few bridges. It's reliable, and easy to maintain because repair shops most likely will be hundreds of miles apart. Also because of this the engine has to be efficient and capable of burning several types of fuels depending on what's available in isolated locals. Adaptability features can't be overlooked because needs are so diverse. During a typical day in many countries an individual could be expected to transform his vehicle from a taxi, to an ambulance, to a pick-up, to a tractor, and finally back to a taxi. There is no time to spend fussing with these adaptations and with a limited income it is impracticable to expect this hard working individual to maintain a fleet of automobiles capable of meeting all those demands. Top all this with the fact that WorldStar automobiles are completely built in privately owned, in- country modular factories provided by World Transport Authority and what suddenly emerges is a shining example of how the free enterprise system can be introduced into developing nations."
*At the beginning of 2002, it instigated a deal with the U.S. Department of Commerce to find partners (countries) for the company's products.
*Recently signed two huge deals (in September and October of 2002). 1) Signed an exclusive Master Agreement with Cugnot Motor Corporation to develop the production of the WorldStar Utility Vehicle in fifty-nine European countries over a period of 50 years, for $5,000,000 (the European Master License Agreement establishes that WTAI retains full control over their patents and outlines specific payment terms and benchmarks for the sale of Factory Licenses within the Territories. In addition, the terms of the Agreement allow WTAI to convert a portion of the note into up to 20% equity ownership in the UK company) Speaking from the Philippines, John Tidy, Vice President of Operations for World Transport Authority Inc. noted, "We are pleased that after months of negotiations, we are able to join with Cugnot to expand into new markets with our low cost, durable and versatile WorldStar utility vehicle and our Micro-Manufacturing factories. We are now embarking upon a major campaign to partner with significant licensees, such as Cugnot, to earn the world-wide recognition that our WorldStar vehicles deserve." 2) Signed a Master Agreement with Cooperative Union of the Philippines. CUP's vision is a Philippine society where there is equity, democracy, social justice and sustainable development. The Secretary General of the CUP, Mr. Felix A. Borja, stated, "This is a huge step forward for us, that allows our 37,000 separate Cooperatives to build and own their factories, to produce their own vehicles, by and for our people, and to create employment in rural areas in accordance with the government program of developing the countryside." Mr. Borja continued, "We intend to have five plants operational within the next eight months, with a further ten plants the following year. This is a unique opportunity for us to be able to control our own destiny in the world of automobile manufacturing with the continuous support of our partner WTAI. We can be a real help in the fight against poverty." John Tidy, Vice President of Operations for WTAI, voiced the enthusiasm of the company, when he commented, "CUP was initially introduced to the WorldStarä vehicle knowing that the diverse industries included in the cooperatives have an essential need for strong, sturdy, durable and non-rusting vehicles. CUP's interest in the WorldStarä reached beyond a desire to purchase vehicles. The leaders of CUP immediately understood the benefits to the Philippines economy, the Cooperatives and the laborers in the Philippines, of producing the WorldStar vehicle within there own country - a vehicle produced by Filipinos for the Philippines' market."
At the current price of seven cents (as of November 1st) a share, and a market cap of roughly five million, any person can own a company that is helping the economies of third world countries grow. Cheap, sturdy, and efficient transportation is just what developing nations now need.
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