secwatch.observer — SEC 8-K summary
======================================

Issuer:     FOMO WORLDWIDE, INC. (—)
CIK:        0000867028
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001493152-24-012689
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FOMO Worldwide acquires EcoChem Alternative Fuels North American assets for preferred stock, convertible note, earn-out
--------------------------------------------------------------------------------

- Consideration: 5M Series B Preferred shares convertible into 50M common shares; up to 5M additional earn-out shares based on revenue milestones through 2027.
- Also includes $1.5M two-year convertible note at $0.05/share with $250K cash amortizations at 6 and 12 months; $125K cash at closing.
- Earn-out milestones: carbon credit accreditation, $10M rev by 2025, $23M by 2026, $52M by 2027.
- Buyer must raise $6M within 18 months; closing scheduled for April 16, 2024.
- Acquisition includes perpetual exclusive license to EcoChem's intellectual property for North America; seller retains international rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/867028/000149315224012689/0001493152-24-012689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/867028/000149315224012689/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-012689

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer