UNITED STATES
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FOMO CORP. is referred to herein as “FOMO”, “the Company”, “we”, or “us”.
Item 7.01 Regulation FD Disclosure.
Over the past two days, FOMO and the owner of its acquisition target SMARTsolution Technologies, Inc. (“SST”; https://smarterguys.com/) held several meetings with institutional investors and family offices. SST disclosed that it generated total annual revenues in 2019 - 2020 of “just under $4 million” with positive cashflow and/or net profits, and that it received total orders of “$8 million in 2021”. Much of that order book, which remains today in multiple six-figure orders and one-seven figure order of four hundred whiteboards, was unable to be fulfilled due to supply chain disruption. The Company’s interactive whiteboard vendor SMART in Canada (owned by Foxconn) chartered its own ship(s) from Asia and delivered equipment to Canada, bypassing the bottleneck at the ports of Los Angeles and opening up its ability to supply preferred vendors such as SST. The Company has negotiated favorable terms with SMART and expects to fulfill much of its order book during the next 3-6 months. FOMO and SST, subject to debt refinancing of several hundred thousand dollars of bank debt and high interest loans, intend to close their signed business combination on or before January 31, 2022.
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: January 7, 2022 | By: | /s/ Vikram Grover |
| Vikram Grover | ||
| Chief Executive Officer | ||