FOMO Worldwide Inc (IGOT)

[DreamGreen]

8K yesterday was a bit confusing so I want to share my understanding of it.

It looks like ETFM president, Vik Grover gave ETFM 210 million shares of PTOP and he got in return 400,000 restricted Preferred shares of ETFM. This is a good thing for ETFM as they get the proceeds from the PTOP shares but the shares of ETFM are restricted. I expect for a year due to rule 144.

This is from the agreement
They are talking about the proceeds from selling the PTOP shares

1.4 Use of Proceeds . The Company shall use the proceeds from the sale of the Acquired Shares for strategic investments, mergers and acquisitions, and general corporate purposes.