FOMO Corp. (OTCPK:FOMC) has signed a Letter of Intent to acquire SMARTSolution Technologies L.P. from Mitchell Schwartz and others on August 10, 2021. FOMO Corp. (OTCPK:FOMC) executed a definitive agreement to acquire SMARTSolution Technologies L.P. on December 13, 2021. Under the LOI terms of the offer include the issuance of one million (1,0000,000) Series B Preferred shares, three hundred million (300,000,000) common stock purchase warrants struck at $0.02 and the assumption of several hundred thousand dollars in bank debt. Mitchell Schwartz shall be retained to manage SMARTSolution Technologies. The transaction is expected to be completed by end of September 2021, subject to signing a Definitive Agreement and refinancing of SST's bank debt of approximately $0.7 million. As of December 13, 2021, the transaction is expected to close in 2021. Murphy Business & Financial Corporation LLC acted as financial advisor to SMARTSolution Technologies with a service fee of $0.05 million.

As of December 31, 2021, FOMO has extended its definitive agreement deadline to acquire SMARTsolution Technologies to January 31, 2022.