INVESTMENTS	6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	Note 4 - INVESTMENTS During the year ended December 31, 2019, the Company issued 400,000 share of preferred class B stock in exchange for 210,000,000 shares of Mobicard Inc. The shares were valued at the market price of $0.0023 per share, or $483,000, at the acquisition date. The shares are currently valued at the market price of $0.0008 per share on March 31, 2021 for a total investment of $168,000. During the year ended December 31, 2019, the Company received 1,000,000 shares of KANAB CORP. for consulting services provided by the Company’s CEO, Vikram Grover. The shares were valued at $0.0001 per share. On October 19, 2020, the Company acquired 100% of the member interests of Purge Virus, LLC for consideration of 2,000,000 Series B Preferred Shares, valued at their market value of $800,000. As a result of the acquisition, the Company recognized intangible assets of $225,000 and goodwill of $596,906. The intangible assets are being amortized over their useful lives, ranging from 3 to 10 years. On February 12, 2021, we purchased 100.0% of the assets, including inventory, customer lists, GSA schedule, intellectual property and other of Independence LED Lighting, LLC for two hundred fifty thousand (250,000) Series B Preferred shares. Based on market prices at closing, the transaction was valued at two and one half million dollars ($2,500,000), but for accounting purposes we wrote the purchase price down to $242,500. On March 6, 2021, we purchased 100.0% of the assets, including inventory, customer lists, GSA schedule, intellectual property and other of Energy Intelligence Center, LLC for one hundred twenty five thousand (125,000) Series B Preferred shares. Based on market prices at closing, the transaction was valued at one million two hundred fifty thousand ($1,250,000), but for accounting purposes we wrote the purchase price down to $825,000. On May 18 2021, FOMO CORP. (“FOMO”) incorporated FOMO ADVISORS LLC, a Wyoming limited liability company, as a wholly owned public/private merchant banking subsidiary. FOMO ADVISORS LLC intends to assist private companies in accessing the capital markets through “pass through” investments that allow investors to gain liquidity from FOMO stock while benefiting from direct exposure to private company growth through derivative instruments or other rights. The subsidiary is engaging with strategic targets to introduce them to its network of financial and strategic contacts, provide them management consulting, and create a portfolio of technology investments for future incubation, capital formation, and wealth creation. An outline of FOMO’s plans is attached herein as Exhibit 10.1. The Company is currently evaluating its corporate development pipeline and has identified a number of candidates for this capital formation model, though there can be no assurances. On July 31, 2021, we sold our 50.0% interest in KANAB CORP. (one million shares) to Himalaya Technologies, Inc. a/k/a Homeland Resources Ltd. (OTC: HMLA) for one hundred fifty thousand (150,000) Series B Preferred shares of the buyer, convertible into one hundred fifty million (150,000,000) common shares). Our CEO, Vikram Grover, is also CEO of Himalaya Technologies, Inc.

INVESTMENTS

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Note 4 - INVESTMENTS

During the year ended December 31, 2019, the Company issued 400,000 share of preferred class B stock in exchange for 210,000,000 shares of Mobicard Inc. The shares were valued at the market price of $0.0023 per share, or $483,000, at the acquisition date. The shares are currently valued at the market price of $0.0008 per share on March 31, 2021 for a total investment of $168,000.

During the year ended December 31, 2019, the Company received 1,000,000 shares of KANAB CORP. for consulting services provided by the Company’s CEO, Vikram Grover. The shares were valued at $0.0001 per share.

On October 19, 2020, the Company acquired 100% of the member interests of Purge Virus, LLC for consideration of 2,000,000 Series B Preferred Shares, valued at their market value of $800,000. As a result of the acquisition, the Company recognized intangible assets of $225,000 and goodwill of $596,906. The intangible assets are being amortized over their useful lives, ranging from 3 to 10 years.

On February 12, 2021, we purchased 100.0% of the assets, including inventory, customer lists, GSA schedule, intellectual property and other of Independence LED Lighting, LLC for two hundred fifty thousand (250,000) Series B Preferred shares. Based on market prices at closing, the transaction was valued at two and one half million dollars ($2,500,000), but for accounting purposes we wrote the purchase price down to $242,500.

On March 6, 2021, we purchased 100.0% of the assets, including inventory, customer lists, GSA schedule, intellectual property and other of Energy Intelligence Center, LLC for one hundred twenty five thousand (125,000) Series B Preferred shares. Based on market prices at closing, the transaction was valued at one million two hundred fifty thousand ($1,250,000), but for accounting purposes we wrote the purchase price down to $825,000.

On May 18 2021, FOMO CORP. (“FOMO”) incorporated FOMO ADVISORS LLC, a Wyoming limited liability company, as a wholly owned public/private merchant banking subsidiary. FOMO ADVISORS LLC intends to assist private companies in accessing the capital markets through “pass through” investments that allow investors to gain liquidity from FOMO stock while benefiting from direct exposure to private company growth through derivative instruments or other rights. The subsidiary is engaging with strategic targets to introduce them to its network of financial and strategic contacts, provide them management consulting, and create a portfolio of technology investments for future incubation, capital formation, and wealth creation. An outline of FOMO’s plans is attached herein as Exhibit 10.1. The Company is currently evaluating its corporate development pipeline and has identified a number of candidates for this capital formation model, though there can be no assurances.

On July 31, 2021, we sold our 50.0% interest in KANAB CORP. (one million shares) to Himalaya Technologies, Inc. a/k/a Homeland Resources Ltd. (OTC: HMLA) for one hundred fifty thousand (150,000) Series B Preferred shares of the buyer, convertible into one hundred fifty million (150,000,000) common shares). Our CEO, Vikram Grover, is also CEO of Himalaya Technologies, Inc.