FOMC - FOMO to acquire ~20% interest in fintech company SmartGuard-Solutions

FOMO (FOMC) signed a definitive agreement to acquire a 19.99% interest in SmartGuard-Solutions ((SGS)) for ~$10M based on current market prices.SGS, a fintech company, markets and finances a suite of disinfection products spearheaded by its air disinfecting UV light fan and operates in high growth high margin businesses.FOMO agreed to pay SGS owners $2.5M in cash, provide a note to the sellers in the amount of $2.5M and issue 1M Series B Preferred shares.Under the agreement, FOMO obtains an 18-month option to acquire majority control (51%) and ultimately 100% control of SGS.Transaction expected to close on or before June 30, 2021.

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FOMO to acquire ~20% interest in fintech company, SmartGuard-Solutions