UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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FOMO WORLDWIDE, INC. is referred to herein as “FOMO”, “we”, “us”, or the “Company”.
Item 8.01 Other Events.
On April 14, 2023, FOMO’s SMARTSolution Technologies L.P. subsidiary drew $462,398.28 from its purchase order (“PO”) line with First Avenue Funding, LLC, which has been in place since April 4, 2022 and has a limit of $500,000. The Company used proceeds to pay down its $1,000,000 credit line with its primary vendor SMART Technologies, which had a past due balance and was in a credit freeze, to $0.00. The payment unlocked full availability of the SMART facility allowing SST to obtain equipment against a seven figure backlog consisting of numerous sales orders with K12 schools and other customers, of which most are now expected to be delivered in the current calendar quarter. Concurrently, SMART Technologies affirmed SST’s “Diamond” status in its core markets of Eastern Ohio, Western Pennsylvania, and West Virginia, which sustains SST’s enterprise by giving it pricing advantages versus competitors, sales leads from SMART, and other strategic and industry benefits.
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: April 19, 2023 | By: | /s/ Vikram Grover |
Vikram Grover | ||
Chief Executive Officer |
Cover |
Apr. 14, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Apr. 14, 2023 |
Entity File Number | 001-13126 |
Entity Registrant Name | FOMO WORLDWIDE, INC. |
Entity Central Index Key | 0000867028 |
Entity Tax Identification Number | 83-3889101 |
Entity Incorporation, State or Country Code | CA |
Entity Address, Address Line One | 831 W North Ave. |
Entity Address, City or Town | Pittsburgh |
Entity Address, State or Province | PA |
Entity Address, Postal Zip Code | 15233 |
City Area Code | (630) |
Local Phone Number | 708-0750 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common |
Trading Symbol | FOMC |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | true |
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