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FOMO CORP. has successfully retired its final piece of aged variable debt, eliminating $231,930.14 in penalties and overdue interest. This action resolves all default debt on its books, enhancing FOMO’s financial standing. In exchange, the company issued 75 million common shares to Tri-Bridge Ventures. CEO Vik Grover highlighted this milestone as part of a two-year turnaround strategy, allowing the company to pursue new growth opportunities in the smart lighting and energy sectors. FOMO also aims to explore advanced technologies like robots as a service.
FOMO CORP. (OTC: ETFM) announced a $1.5 million contract awarded to EcoLite Holdings for LED sports lighting upgrades at Pelican Park in Mandeville, Louisiana. The project includes installing 388 new lights and replacing over 1000 existing ones, aiming to boost lumen output from 20 to nearly 40-foot candles while reducing energy usage by more than 50%. EcoLite will complete the project in under a year, with 100% of costs covered by CLECO, due to projected annual energy savings.
FOMO CORP. (OTC: ETFM) updates on its portfolio companies, highlighting significant advancements and partnerships. Purge Virus completed a six-figure disinfection project for Navajo Tribal Park and a women’s conference in Cancun, showcasing its advanced air purification technology. Independence LED engaged a new wholesale buyer for compliant fixtures and added a grow light account. Energy Intelligence Center partnered with a new clean tech partner to enhance energy efficiencies. The company emphasizes shareholder communication through a new corporate communications committee.
FOMO CORP. (OTC: ETFM) announced an investor call scheduled for March 10, 2021, at 4:00 PM CT, featuring a management discussion followed by a Q&A session. Investors are encouraged to submit questions in advance via email. The company focuses on business incubation and acceleration, investing in emerging companies with growth potential. FOMO also aims to facilitate access to public markets for its investment targets, enhancing their capabilities for expansion and potential spin-outs.
FOMO CORP. (OTC: ETFM) has acquired the assets of Energy Intelligence Center, LLC (EIC), which offers energy efficiency solutions across various sectors. EIC's OptikW platform optimizes HVAC performance, enhancing energy efficiency. The acquisition aligns with the recent $1.9 trillion COVID-19 Relief Bill, which provides funding for improved ventilation in schools and other facilities. EIC has partnered with three new companies in 2021 and aims to drive demand through existing holdings like Purge Virus and Independence LED Lighting.
FOMO CORP. (OTC: ETFM) announces a teaming agreement between its subsidiary, Purge Virus LLC, and Safely Opening Schools (SOS). This collaboration aims to safely reopen K-12 schools amid COVID-19 through mutual referrals and integrated solutions. Purge Virus offers CDC-compliant indoor air quality solutions, while SOS provides advanced digital screening technologies. The partnership involves strategic ties with Draganfly, Inc. for drone technology, enhancing safety measures in schools. Purge Virus has already supplied disinfecting devices for vaccination programs in Florida.
FOMO CORP. (ETFM) announced a partnership between its subsidiary, Purge Virus LLC, and Safely Opening Schools, LLP to facilitate the safe reopening of K-12 schools amidst the ongoing COVID-19 pandemic. The agreement focuses on mutual referrals and selling COVID-19 mitigation products. Purge Virus offers air quality enhancement and disinfection technologies that comply with CDC and UL standards. This collaboration aims to provide comprehensive solutions to enhance safety in educational environments as schools aim to resume in-person learning.
FOMO CORP has entered a strategic agreement with Clean Peak Energy Group to promote energy storage solutions, thereby enhancing operational efficiencies for building owners. This partnership allows FOMO to generate profit-sharing from projects adopting Clean Peak Energy's solutions, focusing on reducing energy costs without capital expenditure. The collaboration is expected to contribute to FOMO's ecosystem of clean technologies, aiming for long-term sustainability and economic recovery. Both companies see significant potential in addressing energy use and greenhouse gas emissions in residential and commercial buildings.
FOMO CORP. (US OTC: ETFM) has signed a letter of intent to acquire the assets of Energy Intelligence Center, LLC (EIC), enhancing its position in the clean energy technology sector. The acquisition includes a license for patented technology and access to a growing sales pipeline. EIC's business model features recurring monthly revenue and successful projects backed by strategic partnerships. As part of the deal, FOMO will issue EIC 125,000 Series B Preferred Shares, convertible into 125 million common shares, incentivizing EIC’s growth and value increase.
FOMO CORP. (US OTC: ETFM) has announced the acquisition of EcoLite Holdings and SmartGuard Energy, highlighted by two significant contracts. EcoLite received a $550,000 contract for a lighting retrofit at East Alabama Medical Center, slated to begin on March 8, 2021. Meanwhile, SmartGuard secured a $66,000 initial order for UV-light disinfecting fans from the US Naval Base in San Diego. FOMO’s CEO emphasized the growth potential from these transactions. The company is evaluating these acquisitions and anticipates substantial contributions to shareholder value.
