FOMO Worldwide Inc (IGOT)

[Smilin_B]

Traders will catch on once we break up through .0008/.0009

We are approaching a pretty monstrous technical breakout after having been suppressed building a solid base for nearly 6 entire months.

The company has never been in a better financial in fundamental position d


orC) SEC Filing 8-K Material Event for the period ending Monday, August 29, 2022


FOMO CORP. TO HOST INVESTOR MEETING; REPORTS CONTINUED STRONG GROWTH AND RAISES GUIDANCE

 

Chicago IL, August 29, 2022 - FOMO CORP. (US OTC: FOMC) will host an investor meeting at its SMARTsolution Technologies LP (https://smarterguys.com/

) headquarters in Pittsburgh, PA on Friday, September 16, 2022.


Details are as follows:

SMARTsolution Technologies LP (Schwartz Building)

831 W North Ave.

Pittsburgh, PA 15233

[phone]


Main Conference Room2:00pm – 3:00pmManagement Presentations3:00pm – 4:00pmFacility Tour, SMART Board Demonstrations4:00pm – 6:00pmNetworking Event

The event will be recorded, and materials presented will be filed for Regulation FD Disclosure purposes with the SEC as required by regulation. Investors are urged to attend the meeting to see the success and progress of the business firsthand. Please RSVP to [e-mail].

Strong Growth Continues; Guidance Raised

In the second quarter ended June 30, 2022, on a consolidated basis, the Company generated revenues of $2.6 million up $2.515 million or 2,959% from $85,000 during the same period in 2021. During the six months ended June 30, 2022, on a consolidated basis, the Company generated $3.9 million top line, up $3.65 million or 1,460% from $250,000 during the prior year’s same period. These first half numbers do not reflect contributions from SST for January - February of this year, as the acquisition closed February 28, 2022.
 

In the second quarter and continuing through this month, SST has turned operating cash flow positive, significantly improved its liquidity position, and enhanced its working capital profile. Backlog today is several million dollars, with equipment being delivered from January 2022 bookings and installations scheduled through November 2022. Total revenues through end of August, pro forma as if the SST acquisition closed January 1, 2022, are projected at greater than $6.0 million, putting FOMO on track to deliver 2022E pro forma consolidated revenues of $9-10 million (mid-point $9.5 million), higher than prior guidance of $8-10 million (mid-point $9.0 million). Guidance excludes the potential impact of mergers and acquisitions currently under analysis and negotiation, of which there can be no assurances of successful outcomes.

 

Vik Grover, CFA, CEO of FOMO CORP. said: “The smart board business is booming in K12, and now we will bring additional resources to bear on additional future growth opportunities in post-secondary education (colleges and universities), pro-, semi-pro and other sports franchises and leagues, judicial systems and courts, retail venues, conference centers, and more. When the global chip shortage ultimately works itself back to equilibrium, I see no reason why SST’s business cannot double or triple by cross-selling new products to our embedded base such as cleantech, edging out into adjacent markets such as eastern Pennsylvania, western Ohio, Michigan, New Jersey, and other markets, and executing M&A of like and synergistic businesses. Congrats to our teammates for such demanding work to get us here. Now it is time to move to the next level and go big.”