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FOMO CORP. (US OTC: FOMC) reported record second quarter results on August 15, 2022, with a revenue increase of 2,959% to $2.6 million compared to $85,000 in Q2 2021. The strong performance was bolstered by the acquisition of SMARTSolution Technologies, LP, fueling demand for EdTech solutions in K12 schools across Ohio, Pennsylvania, and West Virginia. The company turned cash flow positive with over $1.1 million in cash and a projected positive EBITDA for Q3 2022, while actively pursuing strategic mergers and investments to further enhance growth.
FOMO CORP. (OTC PINK CURRENT: FOMC) has filed its Form 10-Q for Q1 2022, reflecting significant financial growth. Net sales surged 615% to $1.23 million, and gross profit rose to $165K. The adjusted EBITDA loss improved to ($280K). As of March 31, 2022, the company reported a backlog of $2.5 million primarily from K12 customers benefiting from federal funding. The acquisition of SMARTSolution Technologies LP on February 28, 2022, marks FOMO's entry into the EdTech sector, aiming for projected revenues of $8-10 million this year.
FOMO CORP reported strong first-quarter performance for its subsidiary SMARTSolution Technologies LP (SST), following its acquisition on February 28, 2022. SST has successfully closed approximately $600,000 of a $3.5 million contract backlog and signed an additional $1 million in contracts. From April 1 to May 31, SST is projected to close $2 to $2.5 million in contracts and sign another $2 million. The 2022 sales forecast for SST is $8 to $10 million. FOMO's Form 10-Q filing is slightly delayed but has no audit disagreements, expected to be submitted shortly.
SMARTSolution Technologies, a subsidiary of FOMO CORP, announced its participation in the InfoComm Convention from June 8-10, 2022, in Las Vegas. The company aims to explore new technologies and enhance customer experiences through a structured three-phase expansion roadmap: Phase I focuses on existing market growth in Pennsylvania and surrounding states; Phase II targets new regional markets like Alabama and Michigan; Phase III plans for national expansion and strategic mergers and acquisitions.
FOMO CORP. (US OTC: FOMC) reports robust growth from its subsidiary, SMARTSolution Technologies LP (SST), projecting annual revenues of $8-10 million for 2022. Strong sales were driven by significant orders, including a $1.3 million purchase for school interactive displays and a backlog worth millions. The company raised $1 million recently to unlock shipments and anticipates further growth fueled by government funding for education. SST plans to expand its market presence beyond Ohio and Pennsylvania, targeting southern states and leveraging its innovative EdTech solutions.
FOMO CORP. (OTC Pink: FOMC) updated stakeholders on its subsidiary, SMARTSolution Technologies LP (SST). SST, based in Pittsburgh, focuses on audiovisual systems for various sectors. The company reported strong sales growth from $3.3M in 2019 to $5.05M in 2021, with over $2.18M in just the first two months of 2022. SST secured a major order of 263 interactive displays valued at $1.3M in February. Anticipated growth is supported by stimulus funding for schools, positioning SST for a record year as market demand rises amid ongoing educational shifts due to COVID-19.
FOMO CORP. (OTC: FOMC) has decided to cancel its previously announced reverse split approval from February 1, 2022. This decision comes as the company aims to uplist to a higher exchange in the upcoming months. FOMO CORP. is focused on business incubation and acceleration, investing in and advising emerging companies. The firm develops both majority and minority-owned investments, as well as joint ventures, to provide targets access to public markets for expansion capital.
FOMO CORP. (US OTC: FOMC) reports a strong performance from its subsidiary, SMARTSolution Technologies (SST), which achieved record revenues of $1,686,324.44 in February 2022, a significant increase from $474,678 in 2021. The company anticipates continued revenue growth. CEO Vik Grover emphasizes that the acquisition of SST marks a pivotal moment for FOMO, aiming to expand clean air technology into schools to aid in reopening efforts. FOMO CORP. focuses on business incubation and growth, with plans to leverage capital markets for expansion.
FOMO CORP. has canceled its previously announced reverse stock split approval from February 1, 2022. The company aims to uplist to a higher exchange in the coming months. FOMO focuses on incubating and accelerating emerging companies to help them access public markets for expansion capital.
Forward-looking statements highlight risks, including uncertainties in securing financing and the potential for acquisition transactions. No guarantee of future revenues or stock price movement is provided.
FOMO CORP. announces a delay in its previously planned reverse stock split until the share price reaches between $0.01 and $0.05. This strategic move aims to enhance share value and liquidity across brokerages. Additionally, the company has officially closed a deal with SMARTSolutions Technologies (SST), indicating optimism for future growth. FOMO CORP. focuses on business incubation, offering capital access to emerging companies, thereby positioning itself for potential expansion.
