FOMO Worldwide Inc (IGOT)

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December PR

(GlobeNewswire) - Michael Hu, President of 2050 Motors, Inc. (US OTC:ETFM), is proud to announce the completion of a successful trip to Yancheng, China, to complete the timetable to begin assembly of the all carbon fiber body electric automobile called the e-Go EV.

Michael Hu stated that 2050 Motors engineering team was accompanied by a senior official of the Las Vegas Development Authority who returned with impressive videos and pictures of the extensive manufacturing facilities that Aoxin Automobile, 2050 Motors manufacturing partner, has completed in Yancheng.

Only a few photographs are available to be reviewed by the public due to the proprietary nature of the high-tech carbon fiber production equipment. Please see photographs http://www.2050motors.com/yancheng.html

As a result of this trip, Aoxin Automobile signed an extension to the original contract, signed in 2012 by 2050 Motors and Aoxin Automobile, throwing full support behind 2050 Motors for the e-Go EV assembly plant in the United States.

The contract will be in full force as soon as 2050 Motors signs a lease for the facility in Las Vegas, Nevada, to start assembly. This lease is expected to be signed very soon because 2050 Motors has been negotiating for a significant period of time with the City of Las Vegas, which owns the property.

Mr. Hu stated that managerial planning work is underway to coordinate industrial complexities associated with a United States assembly plant for the very unique carbon fiber electric vehicle to include packaging of parts in China, export/import paperwork to the USA, training of personnel, quality control of the assembly parts, compliance with US laws including crash test standards and other safety requirements, etc.

2050 Motors is now reviewing management resumes with the goal of bringing automobile assembly expertise to spearhead our own organizatio