2050 Updates Shareholders; Launches Cannabis Social Network - Seite 2

https://www.sec.gov/Archives/edgar/data/867028/000149315220000797/form ...

Separately, FOMO continues to hold 210 million (210,000,000) common shares of Mobicard, Inc. (OTC/PTOP) which has a market value based on yesterday’s closing bid of roughly $150,000 and is a tangible asset listed on the Company’s balance sheet.

Said Vik Grover, CEO: “2019 was a pivotal year for FOMO as we brought the Company current with SEC reporting, exited failed prior businesses, and targeted incubation investments in emerging growth companies. While some previously negotiated transactions were not consummated primarily due to our low stock price, we quietly incubated a social network targeting the estimated 250 million cannabis enthusiasts consuming CBD and THC products that are not catered to by mainstream social media for legal, regulatory or other reasons. An adult use social site with the tailwinds from the expected U.S. legalization of cannabis at the federal level and from multiple states over the coming year provides a powerful growth platform in today’s online world where users seek to connect to others that share their preferences and experiences. Even using conservative estimates for market penetration for KC of 1MM-5MM-10MM DAUs in three years and venture discount rates applied to recent DAU median values for social networks which may have much lower usage rates than KC on a daily and monthly basis, I believe KC’s growth opportunity leaves FOMO significantly undervalued. Included in our 2020 budget are expenses for public relations and endorsements from sites like www.cameo.com to highlight the KC opportunity for investors. Additionally, we have hired an investor relations and corporate development professional to enhance our communications with the Street and strategic partners.”

About FOMO CORP.

FOMO CORP. a/k/a 2050 Motors, Inc. (to be launched @ www.fomo.win) is a publicly- traded company focused on business incubation and acceleration. The Company invests in and advises emerging Internet companies aligned with growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford emerging companies access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.