Current Report Filing (8-k)
July 27 2021 - 9:34AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 26, 2021
FOMO
CORP.
(Exact
name of Registrant as specified in its Charter)
CALIFORNIA
|
|
001-13126
|
|
83-3889101
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
No.)
|
|
(IRS
Employer
Identification
No.)
|
1
E Erie St, Ste 525 Unit #2250, Chicago, IL 60611
(Address
of principal executive offices)
(630)
286-9560
(Registrant’s
Telephone Number)
(Former
name or address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
symbol(s)
|
|
Name
of each exchange on which registered
|
Common
|
|
FOMC
|
|
OTC
Pink
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2) [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act [X]
FOMO
CORP. is referred to herein as “we”, “us”, or “us”
Item
7.01 Regulation FD Disclosure.
FOMO
CORP.’s (“FOMO”) acquisition target SmartGuard-Solutions LLC provided the following business update for its energy
business on July 26, 2021:
MADISON,
NEW JERSEY, UNITED STATES, July 26, 2021 www.EINPresswire.com - SmartGuard-Solutions LLC (SGS - https://www.smartguard-solutions.com)
is pleased to provide the following business update regarding its SmartGuard Energy LLC (SGE) subsidiary which is under a definitive
agreement to be acquired by FOMO CORP. (https://www.fomoworldwide.com - US OTC: FOMC).
With
the re-opening of business in Puerto Rico from a strict COVID lockdown earlier in July, SGE and its local partners have resumed work
on approximately $19MM in near-term energy efficiency and renewable energy projects from a large telecommunications company. Of this
amount, approximately $4.4MM is currently in process with an additional $6.1MM expected to begin in the 4th Q, 2021 once permitting and
other authorizations occur. The balance of the projects are renewable energy projects expected to begin in the 2nd half of 2022. All
these projects are being done under SGE’s as a Service business model which generates immediate revenues as the projects are completed
as well as long-term annuitized-type revenues over terms ranging between 10-15 years.
In
the US, while the rollout of the awarding of projects from the Covid lockdown has been slower than expected in the 1st half of 2021,
SGE currently has 19 projects underway and an active sales funnel of 165 LED lighting projects and 45 energy efficiency and consulting
projects, all totalling approximately $24MM. Based on experience over the last several years, SGE expects that a minimum of $9 MM will
be converted to realized revenues within 1 year. The sales funnel is growing and is diverse in terms of size and location of customers
and is not dependent on any one customer for revenue generation in a particular year. Although SGE has several customers with projects
stretching 3-4 years in high margin business, the revenues associated with these out years have not been included in the sales funnel’s
revenue projection. Also, SGE has made a strategic decision to broaden its offerings from lighting to other forms of energy efficiency
and renewable energy products and has added an energy consulting option for its customers, all of which will have the effect of increasing
profit margins.
Bill
Butler, SGS’s CEO, stated: “We are very confident in our business outlook which has never looked more robust. With our energy
business firmly entrenched in the green energy and renewable energy spaces, we believe we are perfectly positioned to reap the benefits
of the coming tsunami of business we see ahead of us. Increasingly, we are finding that the key to winning projects is the ability to
provide capital for our customers to implement our solutions and, with the backing and encouragement of our institutional funding partners,
we have that ability. Finally, with Puerto Rico now opened for business and with the Government of Puerto Rico poised to exit bankruptcy
soon, we have a multiplicity of significant opportunities there and are in a very strong position with our local partners.”
Forward
Looking Statements:
Statements
in this press release about our future expectations , including, without limitation, the likelihood that SGS will be able to meet minimum
sales expectations, be successful and profitable in the market, bring significant value to SGS and its members, and leverage capital
markets to execute its growth strategy, constitute “forward-looking statements” with 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. SGS 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. SGS’s business strategy described in this press release is subject to innumerable risks, most significantly, whether SGS
is successful in securing adequate financing. No information in this press release should be construed in any form, shape or manner as
an indication of SGS’s future revenues, financial condition or stock price.
Hank
Geier
SmartGuard-Solutions
LLC
+1
201-747-1236
hankgeier@smartguard-solutions.com
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
FOMO
CORP.
|
|
|
Date:
July 27, 2021
|
By:
|
/s/
Vikram Grover
|
|
|
Vikram
Grover
|
|
|
Chief
Executive Officer
|
FOMO (PK) (USOTC:FOMC)
Historical Stock Chart
From Aug 2024 to Sep 2024
FOMO (PK) (USOTC:FOMC)
Historical Stock Chart
From Sep 2023 to Sep 2024