WarpSpeed Taxi Inc (WRPT) Monthly Update with a Signed USA Licensing Agreement, Five-Year Plan and Beta Testing

Rhea-AI Summary

WarpSpeed Taxi Inc. (OTC Pink: WRPT) recently announced a joint venture with a U.S. partner to launch ride-hailing and delivery services using its proprietary software platform. The partner will invest $1 million to secure 50% ownership in the venture, set to launch in October 2022 in Nevada, with plans to expand by December. The Company is also beta testing its platform in India, targeting a global expansion strategy without diluting investor shares. WarpSpeed aims to provide a cost-effective model for drivers and enhance shareholder profits through local partnerships.

Positive

• Joint venture agreement with a U.S. partner to launch services.
• $1 million investment secured to aid operations launch.
• 50% ownership in the joint venture retained by WarpSpeed.
• Expansion planned into multiple states by December 2022.
• Active beta testing in India, indicating global growth potential.

Negative

• Dependence on U.S. partner's funding may pose risks.
• Operational commencement uncertain in additional jurisdictions.

LAS VEGAS, NV, March 24, 2022 (GLOBE NEWSWIRE) -- WarpSpeed Taxi Inc. (OTC Pink: WRPT) (“WarpSpeed” or the “Company”), the developer of an all-in-one software solution for ride-hailing, food delivery, and courier services, is excited to update its shareholders with breaking news over the last month.

On March 16, 2022

The Company announced it had signed an Agreement with a U.S.-based joint venture partner (the “US Partner”) to launch ride-hailing and delivery operations in the United States using the Company’s feature-rich, white-label software platform.

The US Partner has agreed to contribute $1 million in stages by December 31, 2022 in order to drive the launch of operations in return for access to the WarpSpeed Taxi platform and 50% ownership of the venture.

The initial launch is planned for October 2022 in Nevada, with expansion into additional states by December. (Read the March 16, 2022 Press Release)

On March 1, 2022

WarpSpeed Taxi’s model is designed to leverage Joint Venture partnerships with local entrepreneurs interested in the Ride-Hailing and Delivery space. In each local JV, the Company will provide a customized version of its highly adaptable white label WarpSpeed Taxi software platform. In return, partners will provide an initial six-month funding runway, and WarpSpeed will retain 50% ownership of each venture, and will also receive 2.5% of all gross revenues as a licensing fee for the use of the WarpSpeed software platform as well as an additional monthly backend management fee equal to $5,000 or 2.5% of sales, whichever is greater. (Read the March 1, 2022 Press Release)

On February 15, 2022

From day one our goal with WarpSpeed Taxi was to develop a model that allows us to scale globally at a rapid pace, provide profits to our shareholders without dilution risk, reduce ride and delivery costs for passengers and businesses, and incentivize drivers with a larger overall cut from multiple overlapping services.

We are now engaged in active beta testing in Ahmedabad, India. Once we complete beta testing and integrate any necessary software patches, we will launch live across India and begin our expansion in additional countries. We expect this to occur next quarter.

As noted above, we have developed a non-capital-intensive strategy for rapid expansion and marketing that will allow us to scale the model globally through local partnerships without leveraging our balance sheet or diluting investors. The key lies in our software’s modular, customizable design. (Read the February 15, 2022 Press Release)

About WarpSpeed Taxi

WarpSpeed Taxi Inc. is a company involved in the development, testing, and marketing of a ride-hailing and food delivery computer and mobile device application known as “WarpSpeedTaxi: that will provide travelers with convenient door-to-door transport that leverages smart mobility platforms to connect drivers with passengers and lets drivers use their personal vehicles.

For more information go to: http://www.warpspeedtaxi.com

Forward-Looking Statements

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the company is not successful in developing, testing, or marketing its computer application, that its U.S. joint venture partner is unable to fund operations as agreed, or that the Company is unable to commence operations in other jurisdictions. Such forward-looking statements by definition involve risks, uncertainties, and other factors, which may cause the actual results, performance or achievements of WarpSpeed Taxi Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Nature Consulting, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

Corporate Contact:
2261 Rosanna Street, Las Vegas, Nevada, 89117
Telephone: (269) 692-9418
info@warpspeedtaxi.com  

FAQ

What is the joint venture announced by WarpSpeed Taxi (WRPT)?

WarpSpeed Taxi has signed a joint venture with a U.S. partner to launch ride-hailing and delivery services utilizing its software platform.

How much is the U.S. partner investing in WarpSpeed Taxi (WRPT)?

The U.S. partner will invest $1 million in stages to support the launch of operations.

When is WarpSpeed Taxi (WRPT) expected to launch its services?

The initial launch is planned for October 2022 in Nevada, with an expansion into other states by December.

What are the potential risks associated with WarpSpeed Taxi's (WRPT) joint venture?

Risks include reliance on the U.S. partner's funding and uncertainty about operations commencing in additional jurisdictions.

Is WarpSpeed Taxi (WRPT) currently testing its platform anywhere?

Yes, WarpSpeed Taxi is actively beta testing its platform in Ahmedabad, India.