Warrants

6 Months Ended

Jun. 30, 2023

Warrants

Warrants

Note 12 – Warrants

Warrant activity for the six months ended June 30, 2023 and the year ended December 31, 2022 are summarized as follows:

						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
Warrants	Number of Warrants			Exercise Price		Contractual Term (Years)		Intrinsic Value
Outstanding and exercisable - December 31, 2021		2,002,113,095		$	0.0016		2.38	$	450,000
Granted		660,000,000		$	0.0011		-		-
Exercised		(750,000,000	)	$	0.0001		-		-
Cancelled/Forfeited		(618,571,428	)	$	.00034		-		-
Outstanding – December 31, 2022		1,293,541,667		$	0.0013		1.86	$	-
Exercisable – December 31, 2022		1,143,541,667		$	0.0014		1.71	$	-
Granted		300,000,000		$	0.0005		-		-
Exercised		-			-		-		-
Cancelled/Forfeited		-			-		-		-
Outstanding – June 30, 2023		1,563,541,667		$	0.0007		1.87	$	-
Exercisable – June 30, 2023		1,263,541,667		$	0.0007		1.62	$	-

Warrant Transactions for the Six Months Ended June 30, 2023

On February 28, 2023, the Company issued 300,000,000 incentive stock options to employees of its wholly owned subsidiary SMARTSolution Technologies L.P. with a strike price of .0005 and a three-year expiration. The options expire at close of business on March 1, 2026 and do not vest unless each employee is employed by SST on or after March 1, 2024.

Warrant Transactions for the Year Ended December 31, 2022

Convertible Debt Issuances

In connection with convertible debt issued to various lenders, the Company granted 165,000,000, three-year (3) warrants. These warrants have an exercise price of $0.0001 - $0.0012. See Note 7 for derivative liabilities and related mark to market accounting.

Employee Compensation

Concurrent with the acquisition of SST, the Company granted 300,000,000, three-year (3) warrants to employees of SST for services rendered.

FOMO WORLDWIDE, INC AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2023

UNAUDITED

The fair value of these services rendered was $209,713, based upon the following weighted average assumptions:

Exercise price	$	0.001
Expected volatility		375	%
Risk-free interest rate		1.62	%
Expected term (in years)		3.00
Expected dividend rate		0	%

Employee Compensation

The Company granted 195,000,000, three-year (3) warrants for services rendered.

The fair value of these services rendered was $91,127, of which $59,648 was unvested at December 31, 2022, based upon the following weighted average assumptions:

Exercise price	$	0.001
Expected volatility		374	%
Risk-free interest rate		1.76	%
Expected term (in years)		3.00
Expected dividend rate		0	%

Cashless Exercise of Warrants

The Company issued 645,833,333 shares of common stock in connection with cashless exercises of 750,000,000 warrants. The net effect on stockholders’ equity was $0.