Chicago IL, Oct. 05, 2022 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: FOMC) has engaged Elmcore Securities LLC, a member FINRA/SIPC broker-dealer, to advise on strategic mergers and acquisitions within the schooling know-how market. The agency has an intensive observe document in know-how M&A and has a proprietary goal record of a number of dozen entities, together with stand-alone firms and company divestitures of schooling know-how and companies for company coaching, Okay-12, post-secondary schools and universities, non-public schooling, enterprises, and others.
Felix Danciu, Elmcore’s CEO mentioned, “We’re excited to help pursue a roll-up strategy with FOMO in the EdTech industry. Remote learning continues to grow and we believe there are both revenue and cost synergies among small- to medium-sized companies by merging with one another.”
Vik Grover, FOMO’s CEO commented: “It’s time for FOMO to bring real horsepower to its merger and acquisition strategy and take the company to the next level. After talking to many investment banks and spending twenty years on Wall Street, I believe Elmcore’s middle market focus and expertise in technology make its organization ideal for assisting us in growing our business and enhancing FOMO’s positioning as a publicly traded entity.
The SMARTSolution Technologies, LP (“SST”) acquisition accomplished earlier this yr is producing document gross sales and its audit is nearing completion. Though that has taken longer than anticipated, it’s now time so as to add to SST’s sturdy natural progress by folding companies into our ecosystem that add new markets, new merchandise, new companies, and different various alternatives that may add to the highest line and speed up progress. SST is properly positioned in its core markets in jap Ohio, western Pennsylvania and West Virginia leaving a big regional and nationwide progress alternative broad open for the taking. We are at the moment increasing into Philadelphia and assessing close by states for growth. Today, the sensible board trade is booming aided by billions of stimulus {dollars} from ESSER funds I-II-III, however it’s fragmented with quite a few firms just like SST’s measurement obtainable for consolidation.
Meanwhile, we have now rebranded our clear know-how companies and are able to cross-sell UV-C and ionization air disinfection, LED retrofit and HVAC power administration applied sciences to our current and new clients which ought to additional catalyze progress. Such venture gross sales have an extended lead time and usually require engineering audits of properties, however the income alternative per location may be within the a whole bunch of 1000’s of {dollars} and even hundreds of thousands. Over time, as we add services to the embedded base, edge out and broaden into new markets, and layer digital media companies and on demand instruction to the portfolio, I imagine our schooling know-how and clear know-how companies will generate vital worth for our shareholders. The complete addressable market is gigantic.”
About Elmcore Securities LLC
Elmcore Securities LLC, a wholly-owned subsidiary of Elmcore Group Inc., is a member FINRA/SIPC broker-dealer based mostly in Chicago, Illinois (http://elmcore.com/), which makes a speciality of mergers and acquisitions advisory companies, debt and fairness capital elevating, strategic advisory, and monetary transaction evaluation, together with equity opinions and valuations. Coupled with a “hands-on” strategy and a wealth of “real world” business expertise, Elmcore Securities continues to construct upon a basis that’s distinctive and important on this present financial local weather. The agency takes a sensible strategy to funding banking and lends operations know-how to every of its engagements.
About FOMO CORP.
FOMO CORP. (https://www.fomoworldwide.com/) is a publicly-traded firm targeted on business incubation and acceleration. The Company invests in and advises rising firms aligned with a progress mandate. FOMO is growing direct funding and affiliations – majority- and minority-owned in addition to in three way partnership codecs – that afford targets entry to the general public markets for growth capital in addition to spin-out choices to grow to be their very own stand-alone public firms.
Forward Looking Statements
Statements on this press launch about our future expectations, together with with out limitation, the chance that FOMO CORP. will be capable to meet minimal gross sales expectations, achieve success and worthwhile out there, convey vital worth to FOMO CORP.’s stockholders, and leverage capital markets to execute its progress technique, represent “forward-looking statements” throughout the which means of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that time period is outlined within the Private Litigation Reform Act of 1995. Such forward-looking statements contain dangers and uncertainties and are topic to alter at any time, and our precise outcomes might differ materially from anticipated outcomes. The Company undertakes no obligation to replace or launch any revisions to those forward-looking statements to replicate occasions or circumstances after the date of this assertion or to replicate the incidence of unanticipated occasions, besides as required by regulation. FOMO’s business technique described on this press launch is topic to innumerable dangers, most importantly, whether or not the Company is profitable in securing ample financing. No data on this press launch needs to be construed in any type form or method as a sign of the Company’s future revenues, monetary situation, or inventory value.
Elmcore Securities Contact
Felix Danciu
(312) 488-4008
[email protected]
FOMO Investor Contact
Investor Relations
(630) 708-0750
[email protected]
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