Welcome to our dedicated page for ETFM news (Ticker: ETFM), a resource for investors and traders seeking the latest updates and insights on ETFM stock.
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FOMO CORP. (US OTC: ETFM) has launched Indoor Air Quality as-a-Service (IAQaaS) to assist schools, businesses, and government entities in improving indoor air quality without hefty upfront costs. This service emphasizes ventilation and disinfection in alignment with CDC guidelines to mitigate COVID-19 spread. The initiative aims to generate monthly recurring revenue (MRR), enhancing FOMO's valuation. Planned acquisitions, including SmartGuard Energy and EcoLite Holdings, will support the rollout. This model mirrors successful Software as-a-Service approaches, offering significant long-term economic benefits.
FOMO CORP. (US OTC: ETFM) has signed a Letter of Intent (LOI) with Online Energy Manager, LLC (OEM), positioning itself as a player in the clean energy technology sector. OEM, a provider of algorithmic software solutions, holds a patent for a Central Cooling and Circulation Energy Management Control System. The ECORE platform has achieved energy savings of 20-35% in various commercial properties. FOMO will receive 15% profit sharing on OEM's top-line revenue and has options to purchase shares in OEM. The collaboration aims to create smart, energy-efficient buildings amidst growing sustainability concerns.
FOMO CORP. has responded to FINRA’s comments regarding its application to change its name and ticker to 'FOMO'. Following the legal name change on December 16, 2019, and the subsequent SEC filing, the company has received a new CUSIP number. Management believes it has satisfactorily addressed FINRA’s requirements; however, timing remains uncertain. The name change is intended to reflect the company’s growth potential in public venture capital investments.
FOMO CORP. (US OTC: ETFM) announced the acquisition of Independence LED Lighting, LLC (ILED) for $2.5 million, paid with 250,000 restricted Series B Preferred shares. Importantly, FOMO will not assume any of ILED's debt. ILED specializes in energy-saving lighting solutions, boasting installations in notable buildings and military facilities. The acquisition aims to leverage ILED’s advanced technologies within smart lighting and agriculture, targeting the growing market for indoor farming and cannabis. This strategic move is expected to enhance FOMO’s position in the evolving LED market.
FOMO CORP. (US OTC: ETFM) has reached an agreement to acquire SmartGuard Energy LLC (SGE), which includes LED Funding LLC and Lux Solutions LLC. This acquisition is expected to enhance FOMO's capabilities in providing solutions for smart and clean building initiatives across the U.S. SGE reported revenues exceeding $3.2 million in 2020 and holds potential projects valued at over $13 million for 2021. The deal involves a total consideration of $12 million, consisting of cash, stock, and performance-based payments.
FOMO CORP. (US OTC: ETFM) has completed the acquisition of Purge Virus, LLC as of October 19, 2020. In this all-stock deal, PV transferred 100 membership units in exchange for 2,000,000 shares of Preferred B stock to CEO Charles Szoradi. PV specializes in germicidal disinfection solutions and PPE to combat COVID-19. They are pursuing 70 sales opportunities across various sectors, which presents significant revenue potential. CEO Vik Grover highlights this acquisition as a significant growth opportunity for FOMO. Szoradi will join the FOMO Advisory Board and may become a future director.
On September 30, 2020, FOMO CORP. (US OTC: ETFM) announced the acquisition of Purge Virus, LLC, enhancing its service offerings against COVID-19 and other infectious diseases. This all-stock deal highlights a multi-billion dollar market potential with a comprehensive solutions package, including UV lighting and PPE products. The acquisition gives access to a federal bidding schedule with significant growth prospects and relationships with energy management providers. Purge Virus has projected revenues and zero upfront cost financing options for clients, which could boost FOMO's market position.
