FOMO Worldwide Inc (IGOT)

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Here’s my understanding of the latest 8-K filing:

Vikram Grover is investing $483K into ETFM. This investment is in the form of 210Million Shares of PTOP based on the closing price as of May 3rd of .0023/share, hence the amount of $483K. Actually this investment is now valued at $567K based on the PTOP share price of .0027 as of May 6. These shares can be sold by ETFM for added liquidity/funds, etc.

In exchange for this investment, Vikram Grover will be getting 400K 1% Cumulative Preferred Shares and each of the preferred share is also convertible for 1K common shares of ETFM (400 million ETFM shares @.0012/share=$483K)

In short, it’s a share swap...Vikram Grover is basically exchanging his PTOP shares to ETFM shares.

Is it good or bad for ETFM? I’ll leave it up to you. One thing I’m seeing though is that this shows the confidence of the CEO in 2050 Motors Corp.