FOMO Worldwide Inc (IGOT)

[Homebrew]

Broke, Delinquent, Debt-Ridden Toxic-Financed printing press...YIPPEE !!

Just 1 snippet from the latest filing

Delinquent Loans

As of June 30, 2018, the Company is delinquent in its payments on loans owing to four different lenders, totaling $129,575 in principal and $70,550 in accrued interest for an aggregate amount of $200,125. The Company is in discussions with the lenders to extend the maturity dates or to convert all or part into the company’s common stock. There is no assurance that these discussions will result in amicable settlements. Any legal action by any one of the lenders could have a material adverse effect on the Company and its ability to continue operations.

On June 25, 2018, the Company received a legal notice demanding approximately $404,000, from the note holder for defaulting on the loan. The Company is still trying to negotiate the terms with the note holder.