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FOMO Corp has announced its acquisition of SmartGuard-Solutions LLC (SGS), whose air disinfecting UV-C light fan has been qualified by the U.S. Navy for a non-competitive bid. SGS's product surpassed 19 competitors in specifications and pricing. The fan, effective against COVID-19 and other pathogens, has seen early purchases from various government agencies and industries. The acquisition is expected to enhance FOMO's market presence, leveraging SGS's unique product offerings as the demand for disinfection solutions grows post-COVID.
FOMO CORP. (FOMC) has signed a definitive agreement to acquire a 19.99% stake in SmartGuard-Solutions LLC (SGS), which offers disinfection products including a UV light fan. The acquisition is aimed at capitalizing on the increasing need for air and surface disinfection in the wake of COVID-19. FOMO will pay $2.5 million in cash and issue one million Series B Preferred shares, valuing the deal at approximately $10 million. FOMO has an 18-month option to acquire majority control. Both companies are gearing towards growth in the disinfection market with recurring revenue models.
FOMO CORP. (OTC: FOMC) has announced key leadership appointments to strengthen Purge Virus, LLC's marketing and communications as it targets the clean-tech market. Charlie Szoradi is appointed Chief Technology Officer (CTO), leveraging his extensive experience in sustainability, while John Conklin takes on the role of Chief Executive Operating Officer (CEOO). Both leaders aim to enhance partnerships and drive sales within Purge Virus, Independence LED, and the Energy Intelligence Center, positioning FOMO CORP. at the forefront of the clean technology sector.
FOMO CORP. (US OTC: FOMC) has confirmed its name and ticker change from 2050 Motors, Inc. (ETFM) effective May 7, 2021. This strategic shift aims to clarify the company's focus on technology business incubation and acceleration, distancing it from its previous operations. FOMO is actively pursuing acquisitions and investments in clean technology, with talks ongoing with institutional investors for financing. The company’s quarterly financials are set for review and filing by May 17, 2021. This change marks a significant milestone in FOMO's growth strategy.
FOMO CORP. (OTC: ETFM) announced that its subsidiary, Purge Virus LLC, is working with AGILE Technologies Group to provide COVID-19 safety services during First Lady Dr. Jill Biden's visit to the Navajo Nation on April 22-23, 2021. This collaboration includes rapid testing and advanced air purification systems in multiple buildings. Previous services have improved indoor air quality and safety perceptions among employees. The initiative aims to enhance safety protocols amid ongoing pandemic challenges, coinciding with Earth Day.
FOMO CORP. (OTC: ETFM) has launched a beta test for Kanab Club 2.0, a health and wellness social network for cannabis users. This redesigned platform features enhanced mobile capabilities, a more open main feed, simplified navigation, and robust chat functions. The company plans to introduce future features like advertising, health information, and e-commerce. CEO Vik Grover expressed confidence in the platform's growth potential, noting the vast market of cannabis users globally and the anticipated federal legalization in the USA.
FOMO CORP. (OTC: ETFM) announced definitive agreements to acquire LED Funding IV LLC and Lux Solutions LLC, valued at approximately $30 million. These entities will form a new subsidiary, SmartGuard Energy LLC, focusing on renewable and energy-efficient technologies. Key highlights include a contract expected to generate over $20 million in revenues and a total addressable market exceeding $10 billion. The acquisition will enable FOMO to leverage capital and diversify its energy solutions portfolio, strengthening its market position.
FOMO CORP. (OTC: ETFM) has secured a $10 million financing term sheet from an institutional investor, allowing for capital acquisition on its own terms. This financing comes after the company eliminated all default debt as of March 31, 2021. CEO Vik Grover emphasized the commitment to advancing their vision for an ecosystem of companies focused on clean/smart buildings. The firm is progressing towards definitive agreements with several companies, including SmartGuard Energy and EcoLite Holdings. Investors can find further details on the funding terms in the SEC’s EDGAR system.
FOMO CORP. (OTC: ETFM) announced its subsidiary, Purge Virus, LLC, has filed a US Utility Patent for “UV-C Germicidal LED Strip Kits for HVAC Ducts.” The patent aims to enhance indoor air quality, aligning with CDC recommendations. Recently, Purge Virus secured a contract to implement their disinfection technology at FASTSIGNS in Exton, PA, catering to COVID-19 concerns. The timing coincides with significant federal funding aimed at improving indoor environments in public buildings. This positions Purge Virus favorably in a market with rising demand for effective disinfection solutions.
FOMO CORP. (OTC: ETFM) recently filed its Form 10-K with the SEC, revealing its audited full-year results for 2020. Highlights include regaining 'current' status, eliminating substantial corporate liabilities, and raising capital for growth. The company completed several acquisitions, including Purge Virus, LLC and Independence LED Lighting, LLC, to expand its clean building management services. FOMO aims to establish a comprehensive platform for commercial building management by combining products and services across various verticals.
