FOMO CORP. ENGAGES LEADING MIDDLE MARKET INVESTMENT BANK TO ADVISE ON STRATEGIC MERGERS AND ACQUISITIONS

FOMO CORP.

FOMO CORP.

Chicago IL, Oct. 05, 2022 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: FOMC) has retained Elmcore Securities LLC, a FINRA/SIPC broker-dealer member, to advise on strategic mergers and acquisitions in the education technology market. The firm has an extensive track record in technology M&A and has a proprietary target list of several dozen companies, including standalone companies and corporate divestitures of educational technology and corporate training services, K-12, post-secondary colleges and universities, private education, corporations and others .

Felix Danciu, CEO of Elmcore, said, “We are excited to help pursue a roll-up strategy with FOMO in the EdTech industry. Distance learning continues to grow and we believe there are both revenue and cost synergies between small and medium-sized businesses as they merge together.”

Vik Grover, CEO of FOMO commented, “It’s about time FOMO put real horsepower on its M&A strategy and take the company to the next level. Having spoken to many investment banks and spent twenty years on Wall Street, I believe Elmcore’s middle market focus and technology expertise make its organization ideal to help us grow our business and position FOMO as a public company to strengthen companies.

The acquisition of SMARTSolution Technologies, LP (“SST”), completed earlier this year, is generating record sales and its review is nearing completion. While this has taken longer than expected, now is the time to amplify SST’s strong organic growth by integrating companies into our ecosystem that are adding new markets, new products, new services and other diverse opportunities that drive revenue increase and accelerate growth. SST is well positioned in its core markets of Eastern Ohio, Western Pennsylvania and West Virginia, leaving a major regional and national growth opportunity wide open. We are currently expanding into Philadelphia and are evaluating nearby states for expansion. Today, the smart board industry is booming, supported by billions of stimulus dollars from ESSER Funds I-II-III, but it is fragmented with numerous companies similar to SST’s size available for consolidation.

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In the meantime, we have rebranded our clean technology businesses and are ready to sell UV-C and ionizing air disinfection, LED retrofit and HVAC energy management technologies to our existing and new customers, which should further accelerate growth. Such project sales have a longer lead time and typically require technical audits of properties, but the revenue opportunities per site can be in the hundreds of thousands of dollars and even millions. Over time, as we add products and services to the embedded base, conquer and expand into new markets, and add digital media services and on-demand teaching to the portfolio, I believe our Educational Technology and Clean Technology businesses will bring significant value to us will generate shareholders. The overall addressable market is enormous.”

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Around Elmcore Securities GMBH

Elmcore Securities LLC, a wholly owned subsidiary of Elmcore Group Inc., is a FINRA/SIPC member broker-dealer based in Chicago, Illinois (http://elmcore.com/) specializing in advisory services for mergers and acquisitions and Specializes in debt and equity raising, strategic advice and analysis of financial transactions, including fairness opinions and valuations. Coupled with a “hands on” approach and a wealth of “real world” business experience, Elmcore Securities continues to build on a foundation that is unique and crucial in this current economic climate. The firm takes a hands-on approach to investment banking, bringing operational expertise to each of its engagements.

About FOMO CORP.

FOMO CORP. (https://www.fomoworldwide.com/) is a public company focused on starting and accelerating businesses. The firm invests in and advises emerging companies focused on a growth mandate. FOMO develops direct investments and partnerships – in majority, minority and joint venture formats – that give target individuals access to the public markets for expansion capital as well as spin-out options to become their own stand alone public companies.

Forward-Looking Statements

Statements in this press release regarding our future expectations, including but not limited to the likelihood that FOMO CORP. will be able to meet minimum revenue expectations, be successful and profitable in the marketplace, shareholders of FOMO CORP Capital Markets to implement its growth strategy constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from anticipated results. The Company undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date of this statement or the occurrence of unanticipated events, except as required by law. FOMO’s business strategy, as described in this press release, is subject to a myriad of risks, primarily from the Company’s ability to secure adequate funding. No information contained in this press release should be construed in any way as to be indicative of the Company’s future earnings, financial condition or stock price.‬‬‬‬‬

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elm kernel securities Contact

Felix Danciu
(312) 488-4008
[email protected]
FOMO investor contact

Investor Relations
(630) 708-0750
[email protected]

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