ITEM 8.01 Other Events

On January 10, 2021, FOMO CORP. ("FOMO") offered to purchase 100% of the Member Interests of Ecolite Holdings LLC ("Ecolite"; https://www.ecoliteled.com) for the following consideration: 1) 2,549,383 Restricted 1% Series B Preferred Shares, 2) $2,000,000 cash, 3) $750,000 two-year 8% redeemable seller note, 4) a three-year earn-out of annual profits greater than $960,000, and 5) stock option grants to key employees in admin and sales/marketing. Estimated cash of $750,000 on Ecolite's books will remain on the balance sheet at closing to fund operations as a wholly owned subsidiary of FOMO. Ecolite is an entity controlled by John Kelly, a FOMO Advisory Board member and owner of PPE Source International LLC ("PPESI"), a business partner of FOMO's wholly owned subsidiary Purge Virus LLC ("PV"). Ecolite's unaudited revenues and net income of $1.58 million / $80K in 2019A are projected to grow to $4.27 million / $767K in 2020E and $5.34 million / $959K in 2021E. Management believes Ecolite, together with the recently announced acquisition target Independence LED Lighting, LLC ("ILED") which is expected to be folded into Ecolite, will enhance FOMO's prospects to serve the smart/clean buildings market in the United States under the incoming Biden Administration. The letter of intent (LOI) was approved by FOMO's Board of Directors and executed by John Kelly and FOMO's CEO on January 10, 2021.





Item 9.01. Exhibits

(a) Exhibits. The following exhibit is incorporated by reference with this Current Report on Form 8-K:





Exhibit No.   Description
10.1            FOMO Corp. Ecolite Holdings LLC Signed LOI - 01/10/2021*

*Incorporated by reference.

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