Amended Current Report Filing (8-k/a)
May 24 2023 - 4:11PM
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K/A
(Amendment
No. 3)
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 17, 2023
FOMO
WORLDWIDE, INC.
(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.) |
831
W North Ave., Pittsburgh, PA 15233
(Address
of principal executive offices)
(630)
708-0750
(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 |
None |
|
|
|
|
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) ☐
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 ☐
Background.
This Third Amendment to Form 8-K filed
January 17, 2023 provides investors updated presentation materials and a conference call overview of our planned acquisition of Business
Media Solutions, Inc. which has a closing deadline of June 19, 2023. The slideshow is included herein as Exhibit 10.1 and the conference
call overview is available at the following link:
https://www.intratrain.com/Videos/GeneralOverview/
FOMO
WORLDWIDE, INC. is referred to in this Current Report on Form 8-K as “FOMO,” the “Company,” “we,”
or “us.”
Item
8.01 Other Events.
On
January 17, 2023, we signed a purchase agreement to acquire the assets of a provider of online training and compliance software, services,
and content primarily to the agriculture and food industries based in the Midwest. The business was founded in 1980, generates roughly
$400,000 - $500,000 in annual revenues, is EBITDA+, and can potentially be grown organically into other regions of the country and into
new verticals including education, manufacturing, healthcare, and other. We intend to place the assets, which have a total purchase price
of $280,000 cash including closing funds of $155,000, seller notes of $110,000 and an earn-out valued at $15,000 but with no ceiling,
into our wholly owned subsidiary SMARTSolution Technologies Inc., a sister entity to our wholly owned education technology subsidiary
SMARTSolution Technologies LP. Closing is targeted by March 17, 2023, though we intend to work vigorously to consummate the deal sooner.
Our auditors have indicated the size of the business relative to FOMO will not trigger an audit requirement for the target. We agreed
to make a $10,000 non-refundable earnest payment towards closing. There is no equity component to the consideration for this transaction
or dilution to existing shareholders. There are no assurances that we will be able to raise adequate capital to close the business under
the agreed timeframe.
Item 9.01 Financial Statements and
Exhibits.
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
WORLDWIDE, INC. |
|
|
Date:
May 24, 2023 |
By:
|
/s/
Vikram Grover |
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