UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K/A
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 3,
2021
FOMO
CORP.
(Exact
name of Registrant as specified in its Charter)
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CALIFORNIA |
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001-13126 |
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83-3889101 |
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
No.)
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(IRS
Employer
Identification
No.)
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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):
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[ ] |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425) |
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
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| [ ] |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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| [ ] |
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:
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Title
of each class |
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Trading
symbol(s) |
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Name
of each exchange on which registered |
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Common |
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ETFM |
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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”
Background
After offering to buy the assets of the business, FOMO CORP.’s
letter of intent (LOI) was approved by Independence LED Lighting,
LLC’s Board of Directors and Owners and signed by its CEO Charles
Szoradi on January 5, 2021. A press release was issued by the
Company during trading hours that day and is listed
below.
ITEM
8.01 Other Events
FOMO
CORP. AGREES TO ACQUIRE INDEPENDENCE LED LIGHTING,
LLC
Chicago,
IL, January 05, 2021 - FOMO CORP. (US OTC: ETFM) is pleased to
announce that it has signed a letter of intent (LOI) to acquire the
assets of Independence LED Lighting, LLC (“ILED” -
www.IndependenceLED.com), a U.S. manufacturer of Buy
American Act (BAA) Compliant light-emitting diode (LED) tubes,
fixtures, and specialized illumination for Controlled Environment
Agriculture (CEA), commonly referred to as grow lights for indoor
farming.
ILED,
formed in 2011, and brings many benefits to FOMO
including:
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● |
Patented
technology, with a 2014 Patent grant by the U.S. Patent and
Trademark Office (USPTO) that focus on dynamic “SMART” lighting for
improved user experience, which is in line with the recent December
21, 2020 announcement, “Honeywell and Signify Team up to Deploy
Integrated Lighting Solutions to Improve Occupant
Experience”; |
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● |
Direct
Current (DC) powered “driverless” fixtures, for DC microgrids,
which save more energy than other LED fixtures and include “SMART”
controls from remote hubs and Internet of Things
(“IoT”); |
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● |
Proven
case studies and reliability with more than 50% energy savings over
traditional lights and an industry leading 10-year
warranty; |
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● |
Options
for zero upfront financing, utility rebate administration, and
installation coordination; |
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● |
Private
sector accounts that have ranged from Morgan Stanley’s Corporate
Headquarters in New York City and MetLife’s offices across the U.S.
to quick serve restaurants (QSR) and small businesses; |
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● |
U.S
Government “mission-critical” installations on over 30 U.S. Navy
ships for Military Sealift Command, Marine Corps Base Quantico, the
U.S. Department of Veterans Affairs Durham Medical Center, Walter
Reed National Military Medical Center, and the Thumrait Air Base in
Oman; |
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● |
Veteran
Owned and Minority Owned Government contractor relationships to
help facilitate sales and sources for other BAA Complaint and
imported lights to match the regulatory and budgetary needs of any
commercial or government customer; and |
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● |
Robust
and impressive search engine optimization (SEO) generated over the
past decade with 1st page ranking on Google for dozens
of terms related to, “Made in America LED lighting”. This is key to
connect government and private sector buyers to ILED. |
As
consideration for the acquisition, with a 30-day due diligence
period, FOMO will issue ILED 250,000 Series B Preferred Shares,
convertible to 250 million common shares.
Said
Charlie Szoradi, ILED CEO “COVID-19 has awakened the U.S. to the
need for safe, efficient buildings with improved indoor air quality
and operating cost reductions through energy savings. Aligning ILED
with FOMO is a logical way to bring customers the results they
seek. COVID-19 has also highlighted the vulnerabilities in the U.S.
food supply chain. Increasing lines at food banks, are due in part
to long distance food transit across state lines. ILED makes grow
lights, for indoor farming, which reduce the distance from farm to
table. An increasing number of vacant commercial buildings can be
retrofitted into indoor grow farms for lettuce, microgreens, and
other vegetables. The cannabis and hemp/CBD markets are also
expanding rapidly across the U.S.”
Said
Vik Grover, FOMO, CEO: “This is the right deal for 2021, and I see
significant upside. With the growing demand for energy-efficient
buildings and President-elect Biden’s plan to upgrade 4 million
buildings for energy efficiency, ILED is ideally positioned with
proven U.S. made clean-energy technology to help support the goals
of the new administration. With 3.4 billion square feet of U.S.
government real estate and an average of $.50 to $1.00 per square
foot to retrofit with LEDs, the market is large and growing. To
this end, a 37-page American LED Alliance Full Report identifies
over $1.1 billion in annual energy savings with LED retrofits for
the U.S Government.”
About
the ILED Patent
On
July 21, 2011 ILED filed its “SMART” light patent, which was
granted by the USPTO on October 14, 2014. The ILED patent
US-20120062129A1: LIGHT ENGINE DEVICE WITH DIRECT TO LINEAR SYSTEM
DRIVER is focused on LED lighting with remote drivers, rotatable
linear modules, and computer control for smart illumination.
Rotatability addresses the need of end users to have the
flexibility to adjust the beam angles for a diverse range of
commercial and industrial applications. This benefit is valuable
for indoor agriculture to maximize plant growth with the proper
photosynthetic photon flux density as well as building
illumination. The granted patent also includes remote computers
coupled to controllers by a network, which is increasingly relevant
for the IoT for smart lighting.
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.
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.
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.
Investor
Relations
(630)
286-9560
IR@fomoworldwide.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.
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FOMO
CORP. |
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Date:
January 6, 2021 |
By: |
/s/
Vikram Grover |
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Vikram
Grover |
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Chief
Executive Officer |
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