Sales for 2021 increased by 160% over last year across education and corporate markets
Chicago IL, Jan. 18, 2022 (GLOBE NEWSWIRE) -- FOMO CORP.’s (OTC: FOMC) acquisition target under definitive agreement, SMARTSolution Technologies, L.P. (“SST”), the region’s premier Audio/Visual integration company for education, corporations and non-profits, today announced $8.4 million in contracts with $4.8 million closed as of December 31, 2021. The remaining $3.6 million of these contracts are expected to close in the 1st quarter of 2022. This includes 1,546 interactive displays in classrooms, serving over one hundred and fifty school districts, including private and charter schools across Pennsylvania and Ohio.
Mitchell Schwartz, Founder and CEO of SST said: “Despite the current COVID pandemic and its attendant logistics and manpower issues, our team has accomplished an over 160% increase in business activity over the past year. We are thrilled with our customers’ continued acquisition of classroom technology and their trust in our services to provide them. We are looking forward to this continued growth into 2022 and beyond.”
Across the K-12 market, several school districts had budgeted for AV upgrades to existing systems while also supporting new construction that needed outfitted. In addition, many school districts took advantage of the Elementary and Secondary School Emergency Relief (ESSER) as well as Emergency Assistance to Non-Public Schools (EANS) which totals over $500 billion potential funding,” said Mitchell Schwartz
“The effects of COVID created a whole new set of challenges for educational and corporate institutions that required unique solutions which enable continuity in the classroom and boardroom,” stated Mitchell Schwartz, CEO & Founder of SMARTSolution Technologies. “Our strategic planning coupled with critical vendor partnerships enabled STT to deliver the necessary products and services when others could not.”
In 1996, Mitchell Schwartz and SMARTSolution Technologies introduced the SMART Board® to local schools and businesses, bringing the latest in collaborative technology to the region. As demand grew for SMART Board® technology, SST was ready to meet the demand with first class integration, service and support for its customers. As a Diamond partner for SMART Technologies, the manufacturer of the SMART Board, SST is poised to continue its growth and bring its expertise to those demanding only the best solutions for their organization.
Vik Grover, CEO of FOMO said: “SST is a game changer because it lets our clean air companies go directly to schools. The cross-selling of our clean building technology to the K-12 and college/university base is obvious. Schools need to re-open. I encourage all governors, mayors and superintendents to deploy clean air to reopen our schools and protect our children.”
About SMARTSolution Technologies
SMARTSolution Technologies, L.P., is a Pittsburgh, PA–based audiovisual systems integration company that designs and builds presentation, teleconferencing and collaborative systems for businesses, education and nonprofits. For more information, visit SMARTSolution Technologies at www.smarterguys.com.
About FOMO CORP.:
FOMO CORP. (https://www.fomoworldwide.com/) 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 targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
Forward Looking Statements:
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. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. 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.
VP Investor Relations
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