Chicago, IL, April 15, 2021 (GLOBE NEWSWIRE) -- FOMO CORP. ( - US OTC: ETFM) is pleased to announce that it has signed definitive agreements to acquire LED Funding IV LLC, d/b/a LED Funding (, and Lux Solutions LLC ( These two entities will operate as part of SmartGuard Energy LLC (“SGE”), a wholly owned subsidiary of FOMO to be formed once the final closing takes place. The transaction, valued at approximately $30 million based on recent closing prices of FOMO stock, is being financed through a combination of preferred stock, cash and seller notes.

SGE operates in the renewable and clean energy-efficient technology spaces. Its diverse offerings include energy design and consulting services as well as installation services for energy conservation and generation technologies including smart LED lighting and commercial HVAC control systems. SGE and its affiliates have a robust sales funnel of potential business opportunities in big box retail, major grocery chains, commercial banks, global airlines, nationwide lab testing companies offering COVID-19 PCR applications, brand name healthcare providers, and nationwide shared office/computing workspace companies. SGE was recently awarded a contract by one of the world’s largest hospitality and gaming companies that is expected to generate more than $20 million in high margin revenues over the next few years from energy project management and technologies, which paves the way for cross-selling of other FOMO ecosystem products and services to several dozen locations. SGE has also pioneered the “Energy as a Service” (“EaaS”) business model and is able to generate short-term general contracting revenues on its projects and then enter into Power Purchase Agreements (“PPA’s”) for the projects which generate long term revenues. The total addressable market for LED Funding plus Lux Solutions LLC is estimated to be over $10 billion.

Bill Butler, CEO of SmartGuard Energy, stated: “We are very pleased to be a part of the FOMO family as this will allow us to leverage our opportunities on a nationwide basis. Among the many different types of projects in our sales funnel, we have multiple solar and electrical co-generation projects in Southern California and Puerto Rico and expect to be able to tap significant capital backing for our projects to generate long term, annuity-type revenues by acting as principals in PPAs. This will also have the benefit of fixing the cost of energy for our clients in the face of rising prices. The structuring of our solar projects will allow us to claim the solar tax credits for Federal income tax purposes.”

Vik Grover, FOMO CEO, commented: “The acquisitions of LED Funding IV and Lux Solutions truly present a very unique and impressive capability for FOMO. We will now be able to offer a diverse portfolio of state-of-the-art energy solutions to clients and have the capital backing to implement the projects. Further, SGE’s “Lighting as a Service” (“LaaS”) model will allow FOMO to generate recurring revenues, which will provide visibility to our model that should generate a premium for our Company in the capital markets. This combination augurs well for the benefit of FOMO shareholders and is a watershed event. We are on our way.”

Transaction Summary:

As announced on February 15, 2021, FOMO CORP. signed a Letter of Intent to acquire both LED Funding IV LLC and Lux Solutions LLC for three million restricted 1% Series B preferred shares (adjusted from two million shares based SGE’s growing sales funnel) valued at $23.4 million as of yesterday’s close, a cash payment of $3,000,000, and a one-year non-interest-bearing seller notes in the amount of $3,000,000 adjusted for net debt. The transaction is targeted for closing on May 12, 2021, subject to further due diligence, legal work and funding to support SGE’s working capital needs. Details of the definitive agreements including SGE (LED Funding IV / Lux Solutions) pro forma unaudited 2020A and 2021E financials before synergies with the FOMO ecosystem can be found on the SEC’s EDGAR system in two filings completed on April 14, 2021 under FOMO CORP.:


FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets 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 about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute 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 expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. No information in this press release should be construed in any form, shape, or manner as an indication of the Company’s future revenues, financial condition, or stock price.


Wayman Baker, PhD
EVP Corporate Development and Investor Relations
(630) 286-9560

Dwain Schenck
Schenck Strategies
(203) 223-5230

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