Item 8.01 Other Items.
FOMO WORLDWIDE, INC. has signed a letter of intent ("LOI") to acquire the assets
of a USA-based learning management system ("LMS") and training content provider
for $400,000, including $150,000 cash, $150,000 in Series B Preferred stock, and
a $100,000 earn-out plus incentive stock options for employees. Closing is
targeted by May 31, 2023. The proposed transaction is expected to have hard
dollar (cost savings) and soft dollar (cross-selling) synergies with our
existing businesses and planned acquisitions in the content, e-learning and
training markets. There can be no assurances that we will be able to obtain
required financing and/or consummate the transaction.
Item 9.01. Exhibits
(a) Exhibits. The following exhibit is filed with this Current Report on Form
8-K:
Exhibit No. Description
10.1 FOMO WORLDWIDE, INC. LMS LOI (redacted) - February 3, 2023*
10.2 Brookwood Media Arts, Inc. Overview Slides - May 1, 2023
104 Cover Page Interactive Data File (embedded within the inline XBRL
Document)
*Previously filed under Form 8-K on February 6, 2023.
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