FOMO CORP (OTCMKTS:FOMC) announced to offer an update on the SmartGuard Energy activities in Puerto Rico. FOMO got a 40% membership interest in Lux (Lux Solutions LLC) and LEDF (LED Funding IV LLC) in a phased deal leading to a 100% acquisition of each entity that’ll be operated and owned by SmartGuard Energy LLC.
LEDF has a strong PR presence in the renewable energy and clean energy efficiency markets. It has encouraged the development of “as-a-service” business models in these spaces. These models generate a stream of both long-term and initial, annuitized-type income.
Subsequent to the lifting of COVID-19 lockdown regulations, LEDF’s Chief Executive Officer, Bill Butler, met with PR government officials to talk about energy efficiency retrofitting on the buildings that hadn’t been modernized since the late 70s.
Both ESCOPR and LEDF got authorization to update completed Lighting audits they had previously done for Lottery and Treasury Department buildings with current kWh rates in this meeting that was had with the PR government officials. LEDF is also thinking about its capital sources to finance these projects.
Market Reaction:
On Wednesday, FOMC stock ended flat at $0.0014 with more than 106.91 million shares, compared to its average volume of 60 million shares. The stock has moved within a range of $0.0013 – 0.0015 after opening the trade at $0.0015.
