Chicago IL, Aug. 29, 2022 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: FOMC) will host an investor assembly 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
(412) 390-0803
Main Conference Room
2:00pm – 3:00pm Management Presentations
3:00pm – 4:00pm Facility Tour, SMART Board Demonstrations
4:00pm – 6:00pm Networking Event
The occasion will probably be recorded, and supplies introduced will probably be filed for Regulation FD Disclosure functions with the SEC as required by regulation. Investors are urged to attend the assembly to see the success and progress of the business firsthand. Please RSVP to [email protected].
Strong Growth Continues; Guidance Raised
In the second quarter ended June 30, 2022, on a consolidated foundation, the Company generated revenues of $2.6 million up $2.515 million or 2,959% from $85,000 throughout the identical interval in 2021. During the six months ended June 30, 2022, on a consolidated foundation, the Company generated $3.9 million high line, up $3.65 million or 1,460% from $250,000 throughout the prior 12 months’s identical interval. These first half numbers don’t replicate contributions from SST for January – February of this 12 months, because the acquisition closed February 28, 2022.
In the second quarter and persevering with by way of this month, SST has turned working money circulation optimistic, considerably improved its liquidity place, and enhanced its working capital profile. Backlog as we speak is a number of million {dollars}, with tools being delivered from January 2022 bookings and installations scheduled by way of November 2022. Total revenues by way of finish of August, professional forma as if the SST acquisition closed January 1, 2022, are projected at better than $6.0 million, placing FOMO on monitor to ship 2022E professional forma consolidated revenues of $9-10 million (mid-point $9.5 million), increased than prior steerage of $8-10 million (mid-point $9.0 million). Guidance excludes the potential influence of mergers and acquisitions at the moment beneath evaluation and negotiation, of which there might be no assurances of profitable outcomes.
Vik Grover, CFA, CEO of FOMO CORP. stated: “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.”
About SMARTSolution Technologies, LP
SMARTSolution Technologies, LP (https://smarterguys.com/), a wholly-owned subsidiary of FOMO CORP., is a Pittsburgh, PA–based mostly audiovisual programs integration firm that designs and builds presentation, teleconferencing and collaborative programs for companies, instructional establishments and different nonprofits organizations. SST is a frontrunner in interactive show applied sciences to be used in all varieties of curricula and has been offering interactive options to the training expertise marketplace for over 25 years.
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 development mandate. FOMO is creating 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 enlargement 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 development technique, represent “forward-looking statements” throughout the that 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 may 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 prevalence of unanticipated occasions, besides as required by legislation. 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 ought to be construed in any type form or method as a sign of the Company’s future revenues, monetary situation, or inventory worth.
FOMO Investor Contact
Investor Relations
(630) 708-0750
[email protected]
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