Exhibit 10.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
(
CURRENT REPORT
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FOMO WORLDWIDE, INC. is referred to in this Current Report on Form 8-K as “FOMO,” the “Company,” “we,” or “us.”
Background.
On June 6, 2023, we signed a definitive agreement to buy certain short form video assets and intellectual property of Cyber Space, LLC to combine with programming code we developed over the past four years to create a new social network to be named Goccha!. The purchase agreement is included herein as Exbibit 10.1.
Item 1.01 Entry into a Material Definitive Agreement.
On June 6, 2023, we signed a definitive agreement to buy certain short form video assets and intellectual property of Cyber Space, LLC to combine with programming code we developed over the past four years to create a new social network to be named Goccha! (https://www.goccha.net/). Consideration for the transaction includes $100,000 cash and $50,000 in Restricted Series B Preferred stock priced at $0.50 per share (convertible into 100,000,000 common shares based on a common stock price of $0.0005 and a 1-1,000 conversion ratio). There are no assurances we will be able to fund the project or close the purchase based on current market conditions.
Item 7.01 Regulation FD Disclosure.
On May 22, 2023, we assumed a letter of intent to buy certain short form video assets and intellectual property of Cyber Space, LLC. With such assets, we have notified investors of our plans to launch a video platform married to the code of our wholly owned subsidiary KANAB CORP. @ www.goccha.net. There are no assurances we will be able to fund the project or close the purchase, which requires $100,000 cash and $50,000 in preferred stock to be issued to the sellers.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits | |
| Exhibit No | Description | |
| 10.1 | FOMO WORLDWIDE, INC. Cyber Space LLC Definitive Agreement – June 6, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL Document) |
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: June 12, 2023 | By: | /s/ Vikram Grover |
| Vikram Grover | ||
Exhibit 10.1