FOMO CORP. PUSHED R/S UNTIL STOCK RISES.
FOMO CORP. announces a delay in its previously planned reverse stock split until the share price reaches between $0.01 and $0.05. This strategic move aims to enhance share value and liquidity across brokerages. Additionally, the company has officially closed a deal with SMARTSolutions Technologies (SST), indicating optimism for future growth. FOMO CORP. focuses on business incubation, offering capital access to emerging companies, thereby positioning itself for potential expansion.
- Official closing of the SST deal, indicating potential future growth.
- Strategic delay of reverse split until share price increases, enhancing liquidity and market registration.
- Reliance on achieving minimum sales expectations for profitability.
- Uncertainty regarding successful acquisition of additional companies.
Chicago, IL, March 01, 2022 (GLOBE NEWSWIRE) -- (https://www.fomoworldwide.com/ - US OTC: FOMC) The r/s that was announced earlier in January will not happen until the stock price reaches between .01 to .05, or later. Because a reverse split, at the proper time (when the stock has gone up significantly), reduces the number of shares outstanding but proportionately increases the value per share. This causes the shares to be able to be registered and transacted at more brokerages. This will move FOMO and it’s subsidiaries into the future, which is excellent news for shareholders. With the SST deal being officially signed and closed, we are very enthusiast about the future. It’s time to breakaway and make this year the best year yet.
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
SMARTSolutions Technologies is a Pittsburgh based audio visual systems integration company that customizes presentation, teleconferencing and data conferencing systems for meetings, presentations, and instruction. SST has been in business since 1996.
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
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FAQ
What is the recent announcement by FOMO CORP. about the reverse stock split?
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