# EDGAR Filing Document

**Accession Number:** 0000867028
**File Stem:** 0001493152-23-009407
**Filing Date:** 2023-3
**Character Count:** 14169
**Document Hash:** 82b036e80d1325c840d0c4d5e1e6fb0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-009407.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001493152-23-009407

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230329

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FOMO WORLDWIDE, INC.
- **CENTRAL INDEX KEY:** 0000867028
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTORS, NEC [6799]
- **IRS NUMBER:** 954040591
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13126
- **FILM NUMBER:** 23774673

**BUSINESS ADDRESS:**
- **STREET 1:** 831 W NORTH AVE.
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15233
- **BUSINESS PHONE:** (630) 708-0750

**MAIL ADDRESS:**
- **STREET 1:** 831 W NORTH AVE.
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15233

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FOMO CORP.
- **DATE OF NAME CHANGE:** 20191226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 2050 MOTORS, INC.
- **DATE OF NAME CHANGE:** 20140508

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZEGARELLI GROUP INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 19971008

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): March 29, 2023

**FOMO WORLDWIDE, INC.**

**(Exact name of Registrant as specified in its Charter)**

california 001-13126 83-3889101 <br> (State or other jurisdiction of incorporation) (Commission File No.) (IRS Employer Identification No.)

831 W North Ave., Pittsburgh, PA 15233

(Address of principal executive offices)

(630) 708-0750

(Registrant's Telephone Number)

(Former name or address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| Common | FOMC | OTC Pink |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2) ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☒

FOMO WORLDWIDE, INC. is referred to herein as "FOMO", "we", "us", or the "Company".

**Item 8.01 Other Events.**

FOMO WORLDWIDE, INC. today executed a letter of intent (LOI) to acquire a manufacturer and provider of analog and digital signage and services based in Southwest Florida. The business generates annual revenues of approximately $5 million, is profitable, and has backlog of over $2 million with homeowner associations (HOAs), municipalities, and enterprise customers including K12 schools, transportation hubs, and other. Consideration is $500,000 cash, $1.5 million in Series B Preferred stock (valued using a common stock price of $0.001), refinancing or rollover of SBC loans of $1,840,435, and an earn-out of up to $1.0 million over three years (terms to be negotiated). A redacted version of the document is included herein as Exhibit 10.1.

**Item 9.01. Exhibits**

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

<u>Exhibit No.</u> <u>Description</u> <br> 10.1 [FOMO WORLDWIDE, INC. Letter of Intent – Signage Deal SW Florida – 03-29-2023](ex10-1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | FOMO WORLDWIDE, INC. | FOMO WORLDWIDE, INC. |
| Date: March 29, 2023 | By: | */s/ Vikram Grover* |
|  |  | Vikram Grover |
|  |  | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

![](ex10-1_001.jpg)

**LETTER OF INTENT**

**March 27, 2023**

FOMO WORLDWIDE, INC., and/or assigns a California corporation ("Buyer") is pleased to present the following non-binding letter of intent ("LOI") for the acquisition by Buyer of all shareholding interests of _____________, an _____________ C-Corporation located at _____________ (the "Company"), which is owned by active principal _____________ (70%), President, and inactive owners _____________ (10%) Director, _____________ (10%) Owner, and _____________ (10%) Owner (collectively, the "Seller"), subject to the general terms and conditions set forth herein ("Transaction"). The parties will work together to structure the Transaction as a stock purchase.

This LOI summarizes the principal terms of the proposed Transaction. In consideration of the time and expense devoted and to be devoted by the parties with respect to the proposed Transaction, Sections 5e and 6 below in this LOI shall be a binding obligation of the parties. No other provisions in this LOI shall constitute legally binding obligations upon the parties; other legally binding obligations will only arise if and when a definitive agreement and any additional agreements are executed and delivered by the parties.

This LOI is further conditioned on the completion of due diligence, legal and accounting review, documentation that is satisfactory to all parties, and the successful raise by the Buyer of certain financing, if any. This LOI shall be governed in all respects by the laws of the State of Pennsylvania, without regard to its conflict of law provisions. The parties are reminded there is a non-disclosure agreement already in place and those terms govern the confidentiality of this LOI and ongoing efforts related to this Transaction.

**1.** **Terms of the Offer** 

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| | |
|:---|:---|
| This LOI is based on the following terms: | This LOI is based on the following terms: |
| a) | A Securities Purchase Agreement ("SPA") for a stock purchase transaction between Seller and the Buyer that will contain customary terms and conditions and provide for the purchase of all the Seller's fully diluted shareholding interests in the Company for a purchase price of $3,840,435 (three million eight forty thousand four hundred thirty five dollars) (the "Purchase Price"), to be paid as follows: |

---

1. $500,000
 cash at close, plus

2. Refinancing
 of an SBA loan of $1,666,679 less debt issuance cost of $42,764 (amortized over life of loan),
 plus

Page 1 of 5

3. Refinancing
 of an SBA Express loan / Line of credit of $216,520, plus

4. $1,500,000
 in Series B Preferred shares of Buyer, convertible into 1.5 billion common shares of Buyer
 at the option of Seller (common stock price of $0.001; piggyback registration rights), plus

5. A performance-based payment of up to $1,000,000 subject to mutually agreed to/negotiated revenue
growth including % override for successful integration of acquisitions of like businesses for the up to three calendar years after the
Closing Date (defined below), plus

6. Participation
 in employee stock option pool for Seller and key employees TBD,

7. The
 Company's balance sheet will remain as-is during the term this LOI is active and until
 the Closing Date, with no distributions, capital calls, bonuses to management or shareholders,
 salary increases, adjustments to working capital, etc. for any purpose, unless otherwise
 agreed by the Buyer in writing during this time.

b) For
 the avoidance of doubt, all working capital and operating/capital leases/vehicle loans (to
 be identified in a definitive agreement) will be assumed by the Buyer at close and the Company
 shall continue to be managed in the ordinary course of business.

c) A
 working capital analysis will be performed by the Buyer and a certain amount (TBD) of cash
 to be agreed upon between the parties will be provided by the Seller upon Closing (defined
 below).

d) As
 a condition to Closing, Buyer expects certain employees to continue employment on terms acceptable
 to Buyer. As such. Buyer to meet and interview each employee for consideration of ongoing
 employment after Closing. Additionally, _____________ must agree to a minimum two year employment
 agreement, beginning with the Closing Date, at annual salary to be negotiated. Additionally,
 _____________ must agree to a non-competition and non-solicitation agreement from the Closing
 Date until two (2) years, or a reasonable timeframe, in the states of operation of the business, after
the end of his employment with the Company and affiliates.

Page 2 of 5

2. **Financing Contingency** The
Transaction would be subject to certain conditions precedent being satisfied, including without limitation, acceptable financing to be
secured by Buyer, board and shareholder approvals as necessary, possible regulatory approvals, and execution of definitive agreements.

**3.** **Expiration** This LOI expires
at close of business 5:00pm five business days after the filing of Buyer's Form 10-K with the SEC for fiscal year 2022 ended December
31, 2022, if not countersigned.

4. **Assumptions** With
respect to the Target, the following must be acceptable to Buyer:

a) Execution
 of an SPA (stock purchase) and related definitive agreements as soon as practical but not
 later than May 31, 2023 (the "Closing" and such date, the "Closing Date").

b) Seller's
 cooperation with due diligence requests and fulfillment of the conditions herein.

5. **Principal Terms and Conditions** c) There
 being no material adverse change in the business of the Company (:financial, trading, or
 otherwise), profit, or prospects of the Company prior to Closing of the Transaction (for
 clarity, relative to conditions now and anticipated short term performance).

The LOI is subject to the following additional p1incipal terms and conditions:

a) That
 from the date of acceptance of this LOI until the Closing Date, the business and operations
 of the Company will be carried out in the ordinary and usual course of business, and that
 the Company will not enter into any contract or arrangement that is extraordinary and/or
 not in accordance with customary provisions of business or which might adversely affect the
 Company.

b) Buyer
 and its financing partner being satisfied with the results of commercial, financial, tax,
 and legal due diligence of the Company (the "Due Diligence").

c) The
 Company's management, shareholders, and board
of directors (as well as Seller and any advisers or consultants) will fully cooperate with Buyer and its advisers.

Page 3 of 5

d) Satisfactory
 legal documentation, including but not limited to the SPA containing such provisions, covenants,
 warranties, and indemnities appropriate and normal for a transaction of this nature.

---

| | |
|:---|:---|
| e) | Through the Closing Date, Seller agrees to an exclusivity and no-shop provision in order for the Buyer to complete the proposed Transaction, including that Seller and its equity holders, directors, officers, employees, representatives and agents will not discuss or pursue any sale, recapitalization, liquidation or other disposition of the Company, any sale or transfer of any capital stock or any assets of the Company or any interest therein, or any transaction, investment, recapitalization, or sale similar to the proposed Transaction with any other party, or provide any information regarding the Company to any other party other than the Buyer. In the event that the Company violates this exclusivity and no-shop provision, the Company shall reimburse the Buyer for all costs and expenses through the time of discovery by the Buyer. |
|  | Neither the Buyer, nor Seller, nor the Company, nor their respective affiliates, shareholders, or representatives will make any press release or public announcement concerning the existence or completion of the Transaction contemplated hereby without the prior written approval of the other parties hereto. |

---

6. **Costs** Each
of Buyer and Seller will be responsible for their own costs and expenses in relation to the proposal in this LOI, the definitive agreements,
and any conditions contained herein. If an audit is required by the buyer the cost of the audit needs to be split between buyer and seller.

7. **Good Faith Negotiation** Following
the execution of this LOI, the parties will negotiate all definitive agreements in good faith, consistent with the principles and other
terms set forth in this LOI, which are necessary to effect the contemplated Transaction in form and substance mutually satisfactory to
the parties. If the parties are unable to complete the Transaction by the Closing Date, the obligation to continue negotiating shall
cease and this LOI shall terminate, unless extended by mutual agreement.

Page 4 of 5

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| | |
|:---|:---|
| **Agreed and accepted by the parties:** | **Agreed and accepted by the parties:** |
| **For and on behalf of Buyer** | **For and on behalf of Seller** |
| **FOMO WORLDWIDE, INC.** | **_______________** |
| By: Vikram Grover, CEO | By: Vikram Grover, CEO |
| Date: March 27, 2023 | Date: March 27, 2023 |

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