FOMO CORP. CANCELS REVERSE SPLIT.

Rhea-AI Summary

FOMO CORP. has canceled its previously announced reverse stock split approval from February 1, 2022. The company aims to uplist to a higher exchange in the coming months. FOMO focuses on incubating and accelerating emerging companies to help them access public markets for expansion capital.

Forward-looking statements highlight risks, including uncertainties in securing financing and the potential for acquisition transactions. No guarantee of future revenues or stock price movement is provided.

Positive

• Cancellation of the reverse stock split may preserve shareholder value.
• Company focuses on business incubation, supporting growth of emerging companies.

Negative

• Securing adequate financing is uncertain and poses a risk for growth.
• No assurance that announced acquisitions will be completed.

Chicago, IL,, March 03, 2022 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: FOMO) board has canceled the reverse split approval that was announced February 1^st, 2022. FOMO’s goal in the next coming months is to uplist to a higher exchange. We are looking forward with eager anticipation to what the coming months hold. Stay tuned.

About FOMO CORP.

FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.

About SST

SMARTSolution Technologies, is a Pittsburgh, PA–based audiovisual systems integration company that designs and builds presentation, teleconferencing and collaborative systems for businesses, education and nonprofits.

Forward Looking Statements:

Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. No information in this press release should be construed in any form, shape, or manner as an indication of the Company’s future revenues, financial condition, or stock price.

Contact:

FOMO CORP.
Madison Ryan
VP Investor Relations
(386) 287-6950
ir@fomoworldwide.com

SMARTSolution Technology
www.smarterguys.com
Mitchell Schwartz, CEO
Mitchell.Schwartz@smarterguys.com

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/fomo-corp
Twitter: https://twitter.com/FOMO_CORP
Instagram: https://www.instagram.com/fomo_corp/
Facebook: https://www.facebook.com/IR.FOMO/
Discord: https://discord.gg/yqGGYzwJmB

FAQ

What is the significance of FOMO CORP.'s canceled reverse stock split?

The cancellation may help preserve shareholder value by avoiding potential dilution from the reverse split.

What are FOMO CORP.'s future plans after canceling the reverse split?

FOMO CORP. aims to uplist to a higher stock exchange in the coming months.

What risks does FOMO CORP. face in its growth strategy?

Main risks include uncertainty in securing financing and the successful completion of potential acquisitions.

When was the reverse stock split approval canceled for FOMO CORP.?

The reverse stock split approval was canceled on March 3, 2022.

How does FOMO CORP. plan to support emerging companies?

FOMO CORP. invests in and advises emerging companies through direct investments and joint ventures.