ITEM 8.01 Other Events
FOMO CORP. AGREES TO ACQUIRE INDEPENDENCE LED LIGHTING, LLC
ILED, formed in 2011, and brings many benefits to FOMO including:
? Patented technology, with a 2014 Patent grant by the
Office (USPTO) that focus on dynamic "SMART" lighting for improved user
experience, which is in line with the recent
"Honeywell and Signify Team up to Deploy Integrated Lighting Solutions to
Improve Occupant Experience"; ? Direct Current (DC) powered "driverless" fixtures, for DC microgrids, which
save more energy than other LED fixtures and include "SMART" controls from
remote hubs and Internet of Things ("IoT"); ? Proven case studies and reliability with more than 50% energy savings over
traditional lights and an industry leading 10-year warranty; ? Options for zero upfront financing, utility rebate administration, and
installation coordination; ? Private sector accounts that have ranged from Morgan Stanley's Corporate
Headquarters in
serve restaurants (QSR) and small businesses; ?U.S Government "mission-critical" installations on over 30U.S. Navy ships for
Military Sealift Command,
Center, and theThumrait Air Base inOman ; ? Veteran Owned and Minority Owned Government contractor relationships to help
facilitate sales and sources for other BAA Complaint and imported lights to
match the regulatory and budgetary needs of any commercial or government
customer; and ? Robust and impressive search engine optimization (SEO) generated over the past
decade with 1st page ranking on
America LED lighting". This is key to connect government and private sector
buyers to ILED.
As consideration for the acquisition, with a 30-day due diligence period, FOMO will issue ILED 250,000 Series B Preferred Shares, convertible to 250 million common shares.
Said
Said
About the ILED Patent
On
About FOMO CORP.
FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
Forward Looking Statements:
Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.'s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO's business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. No information in this press release should be construed in any form shape or manner as an indication of the Company's future revenues, financial condition, or stock price.
CONTACT: FOMO CORP. Investor Relations (630) 286-9560 IR@fomoworldwide.com
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