FOMO CORP. FILES SEC FORM 10-K AND HIGHLIGHTS 2020-2021 MILESTONES

Chicago, IL, April 06, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: ETFM; “FOMO”), a business incubator and accelerator, provider of clean, smart and efficient HVAC, energy, lighting, and other key commercial building management services, announced that it has filed Form 10-K with the SEC, reporting its audited full year 2020 results.

2020 Highlights:

• Filed all SEC Forms 10-K/10-Q to regain “current” status as a fully reporting company,
• Restructured balance sheet to eliminate several hundred thousand dollars of corporate liabilities with legacy lenders,
• Raised new capital to launch growth strategy, beginning with acquisition of Purge Virus, LLC on October 19, 2020,
• Named Advisory Board consisting of veteran business leaders and in adherence to best practices in Environmental, Social, and Governance (ESG) standards and protocols.

Subsequent Highlights:

• Eliminated all default debt effective March 31, 2020,
• Closed acquisition of assets of Independence LED Lighting, LLC to move into smart lighting and power over ethernet (“PoE”); www.independenceled.com
• Closed acquisition of assets of Energy Intelligence Center, LLC (“EIC”) to target energy management services for commercial, industrial and government buildings; www.energyintelligencecenter.com
• Formed strategic partnership with Online Energy Manager, LLC (“OEM”) to obtain a license to OEM’s root patent for smart energy software for chiller plants in non-residential buildings with a purchase option for some or all of OEM; www.oem.us.com
• Signed letter of intent (“LOI”) to acquire Ecolite Holdings, LLC for preferred stock, cash, and notes; www.ecoliteled.com
• Signed LOI to acquire SmartGuard Solutions consisting of LED funding IV and Lux Solutions, LLC for preferred stock, cash and notes moving into lighting as a service (“LaaS”), energy audits, project design/engineering, and related; www.smartguard-solutions.com and https://www.luxsolutions.com/, respectively,
• Signed LOI to acquire a national HVAC services contractor to add go-to-market installation capabilities and cross-selling synergies with other portfolio companies; target is currently under national rebranding;
• Announced channel partnerships with AGILE Technologies Group, LLC and Clean Peak Energy, LLC to target their respective commercial and government customers with its growing clean building ecosystem of companies; www.4agiletech.com / https://cleanpeakenergy.us

Vik Grover, FOMO CEO, commented: “We relaunched FOMO in 2020 with the intent to build and maintain a valuable public company platform to fund, incubate and integrate growth businesses. We announced our first transaction when we acquired Purge Virus (“PV”), LLC in the second half of the year, and we recognized a small amount of revenues in the fourth quarter from the business. This was just the first step, and as we have previously announced in 2021, we are moving closer to our objective of being a one-stop-shop to provide the market with commercial building management services that save money and promote healthy living through smart/digital LED lighting, disinfecting and maintenance, and HVAC solutions. We expect to soon have the products, engineering, and installation services as well as financing capabilities for business, industrial and government customers.”