FOMO CORP.– 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.
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 Protection Equipment products/services @ www.purgevirus.com).
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.