FOMO CORP (OTC: FOMC) is a technology business accelerator with a portfolio in clean building solutions and other investments. The company has long had a mission to grant emerging companies access to the public markets. To deliver on this, the company has been aggressive with its growth through acquisition model. Through its many wholly owned subsidiaries, FOMC is venturing into AV integrators as well as UV Disinfection machines to position itself as a leader in the growing “Clean tech industry”. In light of this, investors are bullish that the company’s direction and recent acquisitions could position FOMC stock for major growth in 2022.
FOMC Stock News
FOMC has been increasingly focused on acquisitions in the clean energy industry given that the global market for energy efficiency is valued at $360 billion per year. This growth is mostly driven by rising climate change concerns and the need for economic sustainability. To capitalize on this, FOMC recently acquired three wholly owned subsidiaries – IAQ Technologies, Independence LED Lighting, and Energy Intelligence Center.
Through its wholly owned subsidiaries – IAQ Technologies LLC and Energy Intelligence Center LLC – FOMC has been venturing into other areas of the “Clean Tech” industry. Given that both subsidiaries are dedicated to providing energy efficiency and maintaining leading edge technology in the indoor environment industry, FOMC has been undergoing substantial R&D in the robotics field. In light of this, the company recently announced it is launching Ultraviolet Disinfection Machines. These machines are designed and sold by a leading provider in the Northeast and are expected to generate recurring revenue through resale under multi-year contracts.
To facilitate this project’s growth, FOMC is launching a new unit – FOMO ROBOTICS – where it specifically targets disinfection technology including devices powered by the IoT. With FOMO ROBOTICS, businesses can establish critical health and safety initiatives for safer workplaces, schools, offices, factories and hospitals. Additionally, UV Disinfection Robots automate a variety of functions – increasing overall effectiveness by allowing teams to focus on tasks that cannot be automated. Vik Grover – FOMC’s CEO – is optimistic that this initiative will “set the stage for a broader rollout of FOMO ROBOTICS through our existing ecosystem, including planned and potential future acquisitions.”
To further position itself as an emerging leader in the industry, FOMC recently agreed to $1 million of non-dilutive financing to close the planned acquisition of SMARTSolution Technology Inc (SST) – a profitable audio visual systems integration company. According to the agreement, FOMC will issue One Million Series B Preferred shares for the company’s owners as well as 300 million stock options for employees. FOMC will also assume debt obligations for 100% ownership of the business. Upon closing, the company will use this funding to refinance several hundred thousand dollars of bank debt and high interest credit lines. FOMC intends to use a part of the funding to provide incremental capital for growth with expansion for SST’s needs or any other acquisitions.
Currently, SST has multiple six-figure contracts scheduled to be delivered before the end of Q1 2022 for businesses, schools and universities ranging from collaborative audiovisual systems to integrated information sharing and interactive meeting technology. Through its two subsidiaries – IAQ Technologies LLC and Energy Intelligence, FOMC intends to capitalize on SST’s strategy to cross-sell clean air, smart lighting, control systems by offering a bundle of services and technologies to education and enterprise customers in the US and beyond.
Aside from this, the company is also undergoing other acquisition plans and has signed a definitive agreement to acquire SmartGuard Solutions – a holding company providing innovative solutions for various industries – and invest in SmartGuard Disinfenction. By acquiring SmartGuard Energy for $3 million, FOMC will get access to a growing sales funnel with over 145 active prospects that project a total value of $30 million. Bullish investors believe that this deal could be finalized soon.
Currently, SmartGuard Energy is in the process of acquiring LED Funding – which provides comprehensive, turnkey energy-efficient lighting solutions and LUX Solutions – which provides energy audits, consultation, and installation of lighting assets as well as energy services. This acquisition will help SmartGuard Energy achieve greater sales growth. In light of this and the company’s upcoming projects, FOMC shareholders believe this acquisition will be a major catalyst for the stock.
After acquiring SmartGuard Energy, FOMC intends to make an initial 19.99% investment into SmartGuard Disinfection – a technology-focused platform offering disinfecting solutions which are 99.9% effective for business, governments and all other industries worldwide. The company’s UV light products comply with all regulatory standards including CDC and EPA which would give FOMC exclusive USA distribution rights for UVC disinfection fans with Italian manufacturers.
The GOAT @mn_goat_trader is bullish on FOMC stock following news of its recent acquisition of SST.
Currently, FOMC stock is trading at $0.0013 with an immediate resistance at .0016. The stock shows a weak support at .0011 and a stronger support at .0007. Accumulation has been steady following a major spike on January 4th, while the MACD is bearish and the RSI is holding at 44.
Given that FOMC stock is nearing its support and the RSI is fairly low, this could be a good entry point for the stock ahead of its catalysts. While the MACD is bearish, accumulation has been steady which shows investors are holding their shares tight in anticipation of news from the company – possibly triggering a run similar to the 177% increase at the start of the year.
FOMC Stock Forecast
Through an aggressive acquisition strategy, FOMC is capitalizing on the growing industry of Clean Tech. The stock has been on investors’ radar ever since the company’s acquisition of Smart Solutions technology. This is mostly due to the millions in sales and contracts that SST could bring to facilitate FOMC’s growth. To prepare for its future, the company intends to integrate acquired companies into the FOMC ecosystem to capitalize on synergies and create a holistic approach to tackling the growing need for Clean Tech. As FOMC expands in this sphere, the stock could break through this resistance and return to September’s high at $.0022
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