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Fomo Worldwide Inc
831 W North Ave.
Phone: (630) 708-0750p:630 708-0750 PITTSBURGH, PA  15233  United States Ticker: IGOTIGOT
Placed under Receivership on 4/1/2024
On 4/1/2024, FOMO WORLDWIDE, INC. and subsidiaries were placed into receivership by Thermo Communications Funding LLC through the Court of Common Pleas of Allegheny County, Pennsylvania (No GD 24-002108). John Raymond, Vice President of our SMARTSolution Technologies, Inc. subsidiary, has been named Receiver. Thermo has indicated it intends to perform a UCC-1 foreclosure on the Company's SST subsidiary as part of the reorganization, though no such plan has been filed with the Court. There are no other senior secured creditors of the Company.
On November 16, 2022, FOMO’s Board of Directors has concluded that previously issued financial statements, covering the three months ended March 31, 2022 and the three months ended June 30, 2022, should no longer be relied upon because of errors in such financial statements as addressed in FASB ASC Topic 250, Accounting Changes and Error Corrections. It is estimated that the impact to the company's Q1 2022 revenues will be a decline of $550,000 - $650,000, the impact to Q2 2022 revenues will be an increase of $350,000 - $400,000, and the impact of timing issues will be further corrected in 3Q22 - 4Q22
Business Summary
FOMO Worldwide, Inc. focuses on business incubation and acceleration. The Company invests in and advises emerging companies. It is developing direct investment and affiliations - a majority- and minority-owned, as well as in joint venture formats. Its subsidiaries include SMARTSolution Technologies L.P. (SST), IAQ Technologies LLC (IAQ), and Energy Intelligence Center (EIC). SST is an audiovisual systems integration company that designs and builds presentation, teleconferencing and collaborative systems for businesses, education, and nonprofits. It is focused on the sale of its technology, as well as related installation services through its wholly owned subsidiary SST. IAQ provides services and equipment that focus on the air quality within and around buildings and structures, especially it relates to the health and comfort of building occupants. EIC focuses on energy efficiency consulting and sustainability solutions. In addition, it markets and sells clean air disinfection products.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
9/30/202312/31/2022YesYesYes--

Industries
SIC Code Description
2844 Perfumes, cosmetics, and other toilet preparations
3699 Electrical machinery, equipment, and supplies, not elsewhere classified
3648 Lighting equipment, not elsewhere classified
3842 Orthopedic, prosthetic, and surgical appliances and supplies

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chairman of the Board, President, Chief Executive Officer, Chief Financial Officer, Company Secreta Vikram P.Grover 53 1/1/2020 3/6/2019

Subsidiaries
Business Name Address City State/Province Country
Energy Intelligence Center, LLC 1001 Conshohocken State Road Conshohocken PA United States
SMARTSolution Technologies L.P. 831 West North Ave. Pittsburgh PA United States

Business Names
Business Name
ETFM
FOMC
FOMCD
4 additional Business Names available in full report.

General Information
Number of Employees: 287 (As of 12/31/1996)
Outstanding Shares: 99,088,769 (As of 2/22/2024)
Shareholders: 197
Stock Exchange: OTC
Federal Tax Id: 954040591


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Friday, April 19, 2024