disinfection news

Press Releases:

FOMO CORP. and Purge Virus LLC Announce Definitive Agreement Signing

Chicago, IL, Sept. 30, 2020 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: ETFM) and Purge Virus, LLC are pleased to announce they have signed a definitive agreement for the acquisition of Purge Virus, LLC by FOMO CORP. The all-stock acquisition provides several notable benefits to the two companies, their customers, and FOMO shareholders, as cited in an August 27, 2020 press release announcing the Letter of Intent signing, including:

  • A total solutions package to allow enterprises to disinfect their premises from COVID-19 and future infectious diseases the world may encounter, which is estimated to be a multi-billion-dollar market opportunity;
  • Ultraviolet (UV) lighting solutions, bipolar ionization, and photoplasma, plus Personal Protection Equipment (PPE) products/sales to assist clients in protecting their premises and clients from virus proliferation, which is an urgent global need;
  • Access to a federal bidding schedule with up to three billion square feet of federal real estate with substantial growth potential above and beyond that level; and,
  • Relationships with energy management providers that allows growth in the “network in the ceiling” above and beyond the initial COVID-19 opportunity.

Purge Virus, LLC is a vibrant existing business with projected revenues and profits. The company has access to over $300 million in third party equipment financing relationships through sales channel partners. This enables Purge Virus customers to have zero upfront cost options, with low monthly payments, subject to credit approval.

PV has been actively recruiting and training a growing sales network to address the property types most applicable to its technology solutions as defined on its website (https://purgevirus.com/): Healthcare, Hospitality, Education, Retail, Offices, Industrial, Residential, Multi-Family, and Public Assembly.

Vik Grover, FOMO CORP. CEO said “I have known Charles Szoradi for several years and have been impressed with his business acumen. The Purge Virus portfolio of products and services is the right deal to fight the pandemic. I am thrilled that this agreement has been signed.”

“Given the timeliness of the opportunity to merge with FOMO, our team was pleased that we could navigate the complexity of the final Definitive Agreement with such focus and attention to detail. I credit both our team and FOMO for working with agility and tenacity to bring it to fruition,” said Charlie Szoradi, founder and CEO of Purge Virus LLC.

About FOMO CORP.

FOMO CORP. p/k/a 2050 Motors, Inc. is a publicly-traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations – majority- and minority-owned as well as in joint venture formats – that afford emerging companies access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.

Disclosure Statement

Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. No information in this press release should be construed in any form shape or manner as an indication of the Company’s future revenues, financial condition, or stock price.

CONTACT:

Vik Grover
CEO
FOMO CORP.
(630) 708-0750
fomocorp2020@gmail.com

Press Release Source: GlobeNewswire

Purge Virus Partners with PPESI to Accelerate Personal Protection Equipment Sales

Chicago, IL, Sept. 14, 2020 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: ETFM) – Under an LOI to merge with FOMO this Fall, Purge Virus LLC (PV) is pleased to provide an update on the most recent developments with its Personal Protection Equipment (PPE) strategic partner, PPE Source International, LLC (PPESI). For examples of PPE inventory in U.S. warehouses with products and pricing, see: https://purgevirus.com/ppe/.

PPE is increasingly in demand as hospitals, schools, and many other types of businesses continue to navigate the challenges of COVID-19 in the US and around the world.

PPESI and PV have recently signed a strategic partnership agreement with respect to business development for the sale of PPE, ranging from KN95 masks to Nitrile gloves. To ramp up the PPE opportunity, PV has been actively building a network of Sales Representatives and Distributors across the US as well as a sales pipeline to interface with small businesses and larger enterprises including leading real estate development firms.

Examples of recent PPESI sales for small orders include: 1) 2,000 KN95 masks for Louisa County, Virginia public schools with an order value of ~$4,300; 2) 180 infrared forehead thermometers for a university in Ohio with an order value of ~$7,500; 3) 5,000 KN95 masks for an electric contractor in Everett, Washington with an order value of ~$15,750. Mid-size orders, where PPESI served as a procurement consultant, include: 1) 37,000 boxes of Nitrile gloves for an industrial solutions company in Pasadena, Texas with an order value of ~$323,750; 2) 74,000 boxes of Nitrile gloves for a company that produces refined petroleum products in Pearland, Texas with an order value of ~$647,500. PPESI is actively working on larger orders and these will be announced when completed.

“John Kelly and his PPE Source International team have exceeded expectations since we started working with them on PPE sourcing and sales over the spring of this year. John’s leadership and agility to identify opportunities will continue to help generate revenue for Purge Virus and help save lives along the way for our PPE customers,” said Charlie Szoradi, founder of Purge Virus LLC.

“The Purge Virus team has been an excellent partner to date, and we applaud their ability to help clearly communicate the value proposition of PPE through online and direct sales relationships and networking. I met the founder, Charlie Szoradi, over two years ago and we have engaged on multiple projects since then. We expect to extend the synergy for many years since COVID-19 may just be the first of an ongoing new normal relative to personal protection,” said John Kelly, founder of PPE Source International LLC.

About FOMO CORP, DISCLOSURE STATEMENT and full Press Release

Purge Virus Launches National Branding Initiative, Targets Substantial Dental Care Industry

Chicago, IL, Aug. 31, 2020 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: ETFM) is pleased to announce that Purge Virus LLC (“PV”) – which is under a LOI to merge with FOMO this Fall – is generating promising traction by engaging clients such as a leading Philadelphia-based dental care provider in order to implement a national branding initiative. Since the COVID-19 outbreak in the US, this particular dental care provider was the first of what have now been eight dental practices that have embraced PV’s virus disinfection technology. As appropriate approvals are obtained from these customers, they will be named in future news releases and/or on the PV website.

“Patient comfort and safety are key in our dental practice. As soon as we learned about the Purge Virus technology, we saw the value. The added bonus of having branding on the door with a Purge Virus static-cling sticker lets our patients know how much we care about their safety as they come into our office,” said the Philadelphia practice owner. Purge Virus’ website includes comprehensive information on technologies that disinfect air and specialized pages that identify the most appropriate technology for different facilities and property types. For dental care facilities go to https://purgevirus.com/dental-care/.

IBISWorld estimates that there are 189,040 dental office establishments in the United States. FOMO and Purge Virus see this as a top priority given that COVID-19 disinfection needs are so acute for both dentists and patients who are in close proximity. Accounts that have embraced the PV solution set spend typically between $1,000 – $6,000. With an average spend of $3,000 – $3,500 per dental practice, potential annual domestic dental disinfection revenue could exceed a half billion dollars, a substantial total addressable market (“TAM”).

“We applaud the leadership of our dental customers as they help protect their patients and staff with advanced ultraviolet (UV-C) devices for air disinfection. Our branding, which they have embraced, starts with something as simple as our five-inch Purge Virus “Clean Air!” door sticker.” On doors, credit card and accessibility wheelchair stickers are ubiquitous as a means to help people identify the right facility for them. Our roll-out of door stickers and online branding of disinfection technology is the spear to drive awareness of clean zones that reduce the spread of COVID-19,” said Charlie Szoradi, founder of Purge Virus.

About FOMO CORP.

FOMO CORP. p/k/a 2050 Motors, Inc. (“FOMO”) is a publicly- traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with growth mandate. FOMO is developing direct investment and affiliations – majority- and minority-owned as well as in joint venture formats – that afford emerging companies access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.

FOMO CORP. and Purge Virus LLC signed a letter of intent (LOI) on August 20, 2020 to combine their respective companies in an all-stock merger. PV is a provider of COVID-19 disinfection technology, supplies and Personal Protective Equipment (PPE) products/services @ www.purgevirus.com).

DISCLOSURE STATEMENT and full Press Release

FOMO CORP. Agrees to Buy Purge Virus

Chicago, IL, Aug. 27, 2020 (GLOBE NEWSWIRE) — FOMO CORP. (US OTC: ETFM) is pleased to announce that it has signed a letter of intent (LOI) to acquire Purge Virus (www.purgevirus.com), a provider of COVID-19 disinfection technology, supplies and Personal Protective Equipment (PPE) products/services.

Purge Virus brings many benefits to ETFM including:

  • A total solutions package to allow enterprises to disinfect their premises from COVID-19 and future infectious diseases the world may encounter, which is estimated to be a multi-billion-dollar market opportunity;
  • Ultraviolet lighting solutions, bipolar ionization, and photoplasma, plus PPE products/sales to assist clients in protecting their premises and clients from virus proliferation, which is an urgent global need;
  • A vibrant existing business which will generate significant revenues and profits;
  • Access to a federal bidding schedule with up to three billion square feet of federal real estate with substantial growth potential above and beyond that level,
  • Relationships with energy management providers that allows growth in the “network in the ceiling” above and beyond the initial COVID-19 opportunity, and;
  • Over $300 million in third-party equipment financing relationships so that business owners and institutional accounts have zero upfront cost options, with low monthly payments, subject to credit approval.

As consideration, FOMO will issue owners of PV 1.6MM Series B Preferred Shares subject to adjustment, which equates to 1.6BN common shares. PV will also generate additional equity based on an earn-out.

On the corporate action front, FOMO CORP. has increased its share structure to accommodate the acquisition using preferred stock which will not dilute common shareholders directly. The Company has not approved nor intends to execute a reverse split in 2020.

Said Charlie Szoradi: “Our Purge Virus team is excited to take our advanced disinfection technology offerings public through FOMO, given the massive size of the total addressable market in the U.S. and around the world. To date the market has been fragmented and our one-stop shop approach is not only timely given COVID-19 but also foundational for many years as people and businesses seek safe indoor air and energy efficiency advantages that come with proper HVAC disinfection”.

Said Vik Grover, CEO: “We understand the ramifications of the pandemic and what is means to the world. Capitalizing PV is a step forward in the rebirth of our Company and is a positive for mankind. This is the right deal at the right time, and I see significant upside.”

Global PPE Market $84.7BN+ forecast. Additional funding is being sought to handle the potential ramp-up in business volume. Source: https://www.grandviewresearch.com/press-release/global-personal-protective-equipment-ppe-market

About FOMO CORP, DISCLOSURE STATEMENT and full Press Release

INDUSTRY TRENDS

Personal Protection Equipment: Large and Growing PPE Market: Over $40 billion

The global personal protective equipment market was valued at 40.06 billion in 2016, and is projected to reach 58.34 billion by 2022, at a CAGR of 6.5% from 2017 to 2022. Adoption of stringent regulatory framework regarding safety of workers is driving the personal protective equipment market. (More here: MandM)

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