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News Release  07/11/2024

SMC Announces Retirement of Additional $436,884 of Debt

 
 
 
 
 
 
 
 

BOCA RATON, Fla., July 11, 2024 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the retirement of an additional $436,884 of debt in the form of consulting fees and management conversion of accrued earnings (the “Debt”). The Debt retirement will be reflected in the Company's third quarter 2024 financial statements.

 

The Debt is comprised of $300,374 held by one of our non-affiliate debt holders. The balance of $136,500 is comprised of accrued consulting fees held by current insiders, and all of the Debt was converted to the Company’s common shares at $0.002 per share, for a total of 68,250,000. All share issuances are restricted in accordance with the Securities and Exchange Commission (“SEC”) Rule 144.

 

“We believe that the debt retirement and conversion of $136,500 in accrued consulting fees into restricted equity is further proof of management’s commitment to the Company. In light of SMC’s progress with the Chaintrade.AI acquisition and the developments at Fyniti, management felt that our stock is extremely undervalued. Our officers were presented with the opportunity to increase our equity position at these levels and chose to execute on it. I still consider the company to be extremely undervalued Management will continue to find ways to reduce SMC’s long-term debt, minimize shareholder dilution and increase shareholder value.”

 

About SMC: www.smceinc.com

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

 

About Chaintrade: www.chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD, a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

 

Fyniti Global Equities EBT Inc. ("Fyniti")

 

Fyniti, SMC's wholly owned subsidiary. Fyniti (www.fyniti.com, www.fynitiiq.com) is a Fintech developer and provider of technologies that combine Artificial Intelligence/Machine Learning (AI/ML) driven quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology. Fyniti's EBT platform is focused on democratizing Basket Trading and maximizing Tax Loss Harvesting. To that end, Fyniti's development efforts are focused on those two components.

 

Press Release Contact:

 

Erik Blum,

Chief Executive Officer

SMC Entertainment, Inc.

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  07/05/2024

SMC Signs Partnership Agreement with PCG Advisory Inc. and Investment Agreement with ProActive Capital Partners, LP

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / July 5, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the execution of a Partnership Agreement ("Partnership Agreement") with NY-based PCG Advisory, Inc. ("PCG Advisory") and an investment agreement ("Investment Agreement") with NY-based ProActive Capital Partners, LP ("ProActive Capital"). Both PCG Advisory and ProActive Capital are owned and controlled by Mr. Jeff Ramson, a career veteran in capital markets. Mr. Ramson has an in-depth understanding of the inner workings of Wall Street and the expertise to make that knowledge work for main street companies.

 

The Partnership Agreement provides PCG Advisory and its affiliates the right to market and resell SMC's AI-powered products and services through its extensive investor network .The collaboration allows PCG Advisory to be in a lead spot to drive traffic into its platform and control the flow of signups at the same time. PCG Advisory currently holds an institutional size position in SMCE with restricted shares issued in accordance with Rule 144.

 

The Investment Agreement from ProActive Capital is in the form of a $35,000 convertible note with a fixed conversion price of $0.002 per share and a term of 12 months. The proceeds will be used for working capital.

 

Mr. Jeff Ramson stated: "We are pleased to have executed both agreements to further develop and grow SMC's Fintech business model. We believe SMC's latest acquisition of AI-powered trading assets would greatly enhance not only SMC's business growth but also PCG Advisory and ProActive Capital's exposure to one of the hottest markets."

 

"We are extremely excited to be working with PCG Advisory, ProActive Capital and Jeff's whole team" said Erik Blum, SMC's CEO "We believe that with the launch of the ChainTrade.ai platform, Jeff and his team will be instrumental in helping us achieve our first milestone of 1,000 paid subscribers

 

About PCG Advisory:

 

PCG Advisory is a leading investor relations firm dedicated to the delivery of top-tier strategic services that encompass investor relations, capital markets navigation, digital strategies, and corporate communications for innovative and emerging companies from around the globe. PCG Advisory has extensive experience with life sciences, technology, and other emerging growth companies.

 

PCG Advisory is part of PCG Holdings Inc., a holding company for a network of resources dedicated to the discovery and creation of value in the small and micro-cap equity market that was founded in 2008. All subsidiaries of PCG Holdings are geared toward helping investors identify value where it is not most obvious by facilitating a dynamic flow of information between its clients and the investment community. PCG Holdings' operating subsidiaries also includes PCG Digital which owns, partners with and/or licenses innovative aggregation, distribution, and engagement platforms. PCG Digital reaches thousands of individuals, retail, and institutional investors and stakeholders through its proprietary and extensive distribution network as well as through the use of unique multimedia marketing and audience development techniques. For more information, please go to: www.pcgadvisory.com.

 

About ProActive Capital Partners, LP

 

ProActive Capital Partners, LP, is a private investment entity firm managed by Jeff Ramson. Specializing in investing in asymmetrical opportunities, the fund is anchored in over 30 years of identifying and investing in disruptive innovations with the power to revolutionize the global economy. Leveraging its versatile investment model, ProActive Capital identifies management teams, businesses, and sectors of emerging high growth such as Technology and Financial, Healthcare, Energy, and Blockchain Technologies.

 

About SMC: www.smceinc.com

 

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

 

About Chaintrade: https://chaintrade.ai

 

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

 

Press Release Contact:

 

Erik Blum,

Chief Executive Officer

SMC Entertainment, Inc.

360-820-5973

 

Safe Harbor Statement

 

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by third parties. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

 

SOURCE: SMC Entertainment, Inc.

News Release  06/21/2024

SMC Completes Asset Purchase of UK-registered ChainTrade Ltd.’s AI-powered Trading Platform

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 21, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the closing of the acquisition of ChainTrade Ltd's AI-powered Trading Platform (the "Platform").

ChainTrade, a UK-registered Fintech company, is a joint Venture between Plato Data Intelligence and Redmatter.Capital. ChainTrade has developed its Platform to allow users to trade Equities, ETFs, Commodities, and Indices with the support of a personalized AI-powered trading assistant. The Platform was built to revolutionize trading and investing by leveraging AI's predictive capabilities. Management believes this will improve research, risk management and asset allocation. The Platform provides the user personalized and customized investment strategies and utilizes AI to evaluate assets within a portfolio. SMC has launched two separate verticals that are being integrated - ChainTrade.AI for use in the USA and ChaniTrade.pro for use internationally. The Company is currently offering a free trial to test the AI Research Advisor software - click here to start your free trial.

The launch of ChainTrade's AI research tools will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These features enable the ChainTrade AI Research tool to provide timely insights to investors, which in turn allows them to make informed decisions on optimizing their portfolio performance. ChainTrade and its founders have spent the last three years building the required infrastructure to deploy the Platform to the market. Once fully enabled, the Platform will be able to facilitate transactions in a highly secured environment. The Platform's development and features continue to evolve so it can be marketed across emerging markets.

Erik Blum, CEO of SMC stated, "We believe the AI-powered Platform will have a direct and significant impact on SMC's future revenue growth. We look forward to working with the ChainTrade team to expand our market reach and revenue growth."

"We are both motivated and excited to deploy our tech, infrastructure and marketing network via a forward thinking approach towards user acquisitions and sustainability," stated Bryan Feinberg, Co Founder of ChainTrade."

The terms for acquiring 100% of ChainTrade's Platform are: (a) issuance of an $8,000,000promissory note, (b) an initial payment of $30,000 on or before closing which SMC has already made, and (c) until cashflow positive, additional payments of $30,000 every forty-five days thereafter to cover customer acquisition, further product development and marketing expenses.

About SMC: www.smceinc.com

MS1SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About ChainTrade: www.chaintrade.ai

ChaintTade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD, a registered financial services company, with its subsidiary granted a securities trading license by the Capital Market Authority of Montenegro.

Press Release Contact:

Erik Blum,
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by any third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release, or any related damages.

MS1Goes to Fyntechnical.com

SOURCE: SMC Entertainment, Inc.

News Release  06/20/2024

SMC Files Corporate Action with FINRA to Change its Corporate Name and Trading Symbol

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 20, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the submission of corporate action with the Financial Industry Regulatory Authority ("FINRA") to change its Company name and its stock trading symbol (the "FINRA Corporate Action").

As part of the FINRA Corporate Action, the Company has requested changing its current corporate name from "SMC Entertainment, Inc." to "Fyntechnical Innovations Inc." and the stock trading symbol from "SMCE" to "FYNN". Although the Company has reserved the name Fyntechnical Innovations Inc. with the Nevada Secretary of State, there's no guarantee that FINRA would approve the requested name and trading symbol. The Company has reserved a new domain name that will host its new website, www.fyntechnical.com.

"Upon successful completion of the FINRA Corporate Action our name change will secure the company's identity as Fyntechnical Innovations .We look forward to shedding the SMC image and rebranding ourselves as a first in class best in class fintech." stated Erik Blum, SMC/Fyntechnical CEO. "Fyntechnical Innovations will look to set the standard in all types of disruption technology. We have a vision, and we are executing on it. We will continue to strengthen our image, brand, and our commitment to increasing shareholder value. This is a truly exciting time at our company, I look forward to providing a shareholder update on all the many positive developments that we have already executed."

About SMC: www.smceinc.com
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

Press Release Contact:
Erik Blum,
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  06/14/2024

SMC Announces Retirement of $442,875 of Debt

 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 14, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the retirement of $442,875 of debt in the form of consulting fees and management conversion of accrued earnings (the "Debt"). The Debt retirement will be reflected in the Company's second quarter 2024 financial statements.

The Debt is comprised of $360,875 held by two previous consultants; $126,000 and $234,875 respectively. The balance of $82,000, accrued consulting fees held by current insiders, was converted to the Company's common shares at a strike price of $0.00135. The total number of common shares issued to insiders is 60,740,740. All share issuances are in accordance with the Securities and Exchange Commission ("SEC") Rule 144 and are restricted and will vest in two years.

"The debt retirement and conversion of accrued consulting fees of $82,000 into restricted equity is a tremendous opportunity to enhance SMC's balance sheet and increase my commitment to the Company," said Erik Blum, SMC's CEO. "In light of SMC's recent announcement to purchase 100% of the assets of ChainTrade Ltd., I feel our stock is extremely undervalued. I was presented with an opportunity to increase my equity position at these levels and chose to execute on it to enhance SMC's balance sheet. Management will continue to find ways to reduce SMC's long-term debt, minimize shareholder dilution and increase shareholder value."

About SMC: www.smceinc.com
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About Chaintrade: www.chaintrade.ai
Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact:

Erik Blum,
Chief Executive Officer
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  06/10/2024

SMC Announces Completion of Review of Form 10 by the Securities and Exchange Commission

 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 10, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC:SMCE), a versatile technology incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the completion of its review of Form 10 by the Securities and Exchange Commission ("SEC"). SMC filed its initial Form 10 in June 2023.

This completion of the review marks a momentous milestone and solidifies SMC as a fully reporting public company. This completion of the process is timely with SMC's recent announcement to purchase 100% of the assets of ChainTrade Ltd. With this done, SMC's next major milestone is filing for a company name change and symbol change with FINRA..

 

"For the past 12 months, SMC's management team worked very closely with its legal and accounting teams to address the SEC's comments in an expeditious manner," commented Erik Blum, SMC's CEO. "The diligent hard work ultimately paid off and our thanks to all of our team members including the guidance of the SEC staff who were instrumental in getting us to the finish line."

About SMC: www.smceinc.com

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About Chaintrade: https://chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact

Erik Blum
CEO
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such.

SOURCE: SMC Entertainment, Inc.

News Release  06/07/2024

SMC Entertainment Announces Cancellation of 250,000,000 Shares Reducing Outstanding Common Shares by 17% 

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 7, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce that it has completed the cancellation of Two Hundred and Fifty Million (250,000,000) shares of common stock back into treasury. This reduces the share structure by more than 17%. During the course of our audit a discrepancy was discovered detailing that certificates totaling 250 million shares were lost. This has now been rectified.

Erik Blum, CEO of SMC Entertainment Inc, stated, "We have been notified by our Stock Transfer Agent that the necessary documents required for cancellation have been received, processed and that the 250 million common shares have been cancelled. We will continue to work to increase shareholder value as we continue executing on our AI business strategy."

About SMC: https://smceinc.com

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About Chaintrade: https://chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact

Erik Blum
CEO
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  06/07/2024

SMC Enters into Acquisition Agreement to Purchase 100% of the Assets of ChainTrade Ltd

 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / June 7, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is excited to announce the launch of the Chaintrade AI powered research platform and that the Company has entered into an Acquisition Agreement to acquire 100% of the assets of ChainTrade Ltd.'s AI-powered Trading Platform (the "Platform"). The closing of the Acquisition is pending the completion of customary due diligence, which is expected to be completed within 30 days.

Chaintrade is a joint Venture between Plato Data Intelligence and Redmatter.Capital. and was built to revolutionize trading and investing by leveraging AI's predictive capabilities.

ChainTrade, is a UK-registered Fintech company. Chaintrade has developed a Platform to allow users to trade Equities, ETFs, Commodities, and Indices with the support of a personalized AI-powered trading assistant. The Platform was built to revolutionize trading and investing by leveraging AI's predictive capabilities. This will improve research, risk management and asset allocation. The Platform provides the user personalized and customized investment strategies and utilizes AI to evaluate assets within a portfolio.

The launch of the AI research tool will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These enable The ChainTrade AI Research tool to provide insights, enabling investors to make informed decisions to optimize their portfolio performance. ChainTrade and its founding members have spent the last three years building the required infrastructure to deploy it to the market. Once fully enabled the platform will be able to facilitate all transactions in a highly secured environment. The Platform's development and features continue to evolve so it can be marketed across emerging markets.

"I want to thank our shareholders for being patient with the management team. We continue to work towards the development of our vision for the company. With the pending acquisition of Chaintrade AI our vision is now on a solid executable foundation." quoted Erik Blum, Chairman & CEO of SMC. "With the launch of the Chaintrade AI Research Tool we have another foundation block in place . We plan to deploy a fully functioning AI enhanced SaaS model to market by the end of the quarter . As well we will continue to build on the platform both organically and through acquisition. We have developed a very strong team internally which we believe can enhance our platform and increase our shareholder value We expect to see positive revenue growth from the acquisition quickly. Nobody else can do what we do, we intend on being the best in class, what every other platform is measured against. This is an extremely exciting time for the company, and I look forward to executing on plan and uplisting to a senior exchange We are planning on providing a complete shareholder update within the next few weeks."

Prem Couture / Founder of Redmatter Capital: "We have developed a specialized language model tailored specifically for finance, with a focus on stocks, companies, revenue statements, balance sheets, and cash flow. This advanced model is adept at retrieving and analyzing data from live data feeds, providing real-time insights and analysis for financial professionals and investors. We have spent the last 3 years building our infrastructure around facilitating both OnChain and Offchain transactions in a highly secured environment."

Bryan Feinberg, Founder of Plato Data Intelligence: "As the underlying technologies we are developing continue to evolve, we can play in making AI more accessible to everyone, especially across emerging markets."

About SMC: https://smceinc.com

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About Chaintrade: https://chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact

Erik Blum
CEO
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  05/08/2024

SMC Announces LOI to Acquire Chaintrade LTD.

 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / May 8, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC Pink:SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is excited to announce they have signed an LOI to acquire Chaintrade LTD, an AI Fintech company. Chaintrade has developed an AI Powered Asset Trading Platform that allows users to trade any Equity, ETF, Commodity, and Index with the support of a personalized AI Powered trading assistant SMC has agreed to acquire the platform and looks forward to completing the necessary due diligence to close this acquisition quickly as the platform is ready for commercial launch.

Chaintrade is a joint Venture between Plato Data Intelligence and Redmatter.Capital. and was built to revolutionize trading and investing by leveraging AI's predictive capabilities while improving risk management and asset allocation, ensuring more personalized investment strategies. Chaintrade's portfolio management utilizes AI to evaluate assets within a portfolio.

"We look forward to closing the acquisition of Chaintrade, once completed we will have a fully functioning model to deploy." quoted Erik Blum, Chairman & CEO of SMC "This acquisition will advance our infrastructure and technology tremendously. SMC can now shift from conception to application and full implementation of our SaaS vision. After closing we plan on re-branding our AI component, as FYNN AI We look forward to introducing FYNN as a new, next generation learning and research AI designed to help you trade smarter. We will continue to update shareholders as things develop."

 

Prem Couture / Founder of Redmatter Capital: "Our AI analyzes performance, investor sentiment, fair value, and risk factors to provide personal insights enabling informed decisions and optimized portfolio performance. We have spent the last 3 years building our infrastructure around faciliting both OnChain and Offchain transactions in a highly secured environment."

Bryan Feinberg, Founder of Plato Data Intelligence: "As the underlying technologies we are developing continue to evolve, we can play in making AI more accessible to everyone, especially across emerging markets."

About SMC: https://smceinc.com

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.

About Chaintrade: https://chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact

Erik Blum
CEO
SMC Entertainment, Inc.
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  04/19/2024

SMC Announces Marketing Agreement with Plato Technologies. Inc.

 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / April 19, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE)

SMC / (OTC PINK:SMCE) is pleased to announce a marketing agreement and collaboration with Plato Technologies Inc.

Plato Technologies specializes in AI content disruption and AI management systems. The collaboration will enable the Company to market Plato's platform directly to web and content development teams. The companies have agreed on a revenue sharing agreement after deducting individual client acquisition costs.

"This is just the beginning." stated Erik Blum CEO of SMC, "We are very excited to be engaged with Plato to further our development and building of our internal AI foundation. The success of any ML/ AI program is data points and content management. Plato excels at both management of those data points and providing a cohesive platform to execute on. We believe we can successfully market their platform and in turn gain valuable access to its archived content. Content is key in assimilating market data. We want to utilize that content in our market driven machine learning program for trading. The synergies are huge and provide us an accelerated platform to execute on our business plan".

"Since our inception, we are continuously setting a new standard on what Generative AI and Generative Intelligence represents to the capital markets. Our network allows us to authentically connect the communities our data and content represents to the verticals we support. This partnership represents a best of class opportunity to leverage our technology across SMC's growing ecosystem" Bryan Feinberg, Plato's CEO and Founder commented.

About Plato Technologies Inc.
Plato is an Ai powered content and syndication network that curates the latest in data intelligence across today's most innovative market verticals. The platform is designed to provide an ultra-safe and secure environment to consume sector specific real-time data intelligence across 45 Market Verticals and 35 Languages. Plato's in-house syndication network currently syndicates content to over 1900+ Publisher websites for deep and authentic connectivity to the communities. For Information on Plato, visit https://platodata.network / https://zephyrnet.com

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
Chief Executive Officer
SMC Entertainment, Inc.

Ron Hughes
Chief Operations Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com
360-820-5973

Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

News Release  06/08/2023

SMC Announces Form 10 Filing to Attain Reporting Status with the SEC

 
 
 
 
 
 
 

BOCA RATON, Florida – June 8th, 2023 - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce the filing of its Form 10 Registration Statement with the United States Securities and Exchange Commission (“SEC”). A copy of Form 10 is available at www.sec.gov under SMC Entertainment Inc.

 

The Form 10 Registration Statement filing provides our shareholders and investors with a description of SMC’s business and growth strategies, current and historical financial information and other pertinent information such as risk factors and legal disclosures.

 

Mr. Erik Blum, SMC’s CEO, stated, "We are very excited to announce the filing of our Form 10, a milestone that we’ve been working very diligently to achieve. Upon its effectiveness, the Company will file a corporate action to change company name and a symbol change to better reflect our Fintech business plan.”

 

Once the Form 10 Registration Statement becomes effective, the Company will be subject to the SEC reporting requirements, including but not limited to Form 8-K for periodic reports, Form 10-K for annual reports and Form 10-Q for quarterly reports.

 

In addition, SMC is pleased to announce that it has re-engaged its current auditor to conduct SMC’s 2023 annual financial audit and review SMC’s quarterlies.

 

StockInvestorDaily

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

 

Press Release Contact:

Erik Blum

CEO

SMC Entertainment, Inc.

 

Ron Hughes

Chief Operations Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  05/10/2023

SMC Closes $25 Million Acquisition of Fyniti Global Equities EBT Inc., AI-enabled Wealth Management Technology Platform

 
 
 
 
 
 
 

BOCA RATON, Florida - May 10, 2023 - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has completed and closed its acquisition of Fyniti Global Equities EBT Inc. ("Fyniti"); valued at $25 million. 

 

Fyniti (www.fyniti.com, www.fynitiiq.com) is a Fintech developer and provider of technologies that combine Artificial Intelligence/Machine Learning (AI/ML) driven quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology.

 

Pursuant to the closing documents:

 

  1. Fyniti has assigned all intellectual property (“IP”), algorithms, know-how, sales and marketing collateral, and other tangible and intangible assets to the Company;

  2. Fyniti will operate as a 100% wholly owned subsidiary of the Company;

  3. Fyniti will be managed by its founding members and will have complete control of the direction of expanding the business. Fyniti was founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup;

  4. The Company has issued 2,500,000 unregistered shares of its $10.00 Series B Preferred Stock to Fyniti’s stockholders; and

 

“We are pleased to have concluded the Fyniti acquisition in such a short time span,” commented SMC’s CEO Erik Blum. “The acquisition will strategically position SMC in the competitive landscape as a major player in the AI-enabled Fintech industry which will exceed $6.2BIL by 2032 boasting a CAGR of 22.5% between 2023 and 2032.”

 

Fyniti’s EBT technology is focused on democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti's IQ Engine is an AI-driven contextual analyzer that creates a repository of all equity research.

 

The ETFs are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a great opportunity for using AI/ML driven portfolio management.

 

https://www.youtube.com/watch?v=JcfILExCz3s

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

 

Press Release Contact:

Erik Blum

CEO

SMC Entertainment, Inc.

 

Ron Hughes

Chief Operations Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  04/25/2023

SMC Posts Audited Financial Statements for Fiscal Years 2021 and 2022

 
 
 
 
 
 
 

BOCA RATON, Florida - April 25, 2023 - SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has completed and posted its audited financial statements for fiscal years 2021 and 2022.

 

In preparation for uplisting to a senior exchange, the Company has engaged legal services of a securities attorney to complete and file required documentation to attain reporting issuer status as defined by the SEC. To better reflect its Fintech business plan, the Company intends on filing corporate actions to change its corporate name and ticker symbol.

 

Per the announcement dated 4/18/2023, the Company has executed a stock purchase agreement to acquire 100% of Fyniti Global Equities EBT Inc. (“Fyniti’). The acquisition is valued at $25 million. Fyniti (www.fyniti.comwww.fynitiiq.com) is a Fintech developer and provider of technology that combines Artificial Intelligence/Machine Learning (AI/ML) driven Quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology. EBT is focused on democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting, and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti's IQ Engine is an AI driven contextual analyzer that creates a repository of all equity research. The Company anticipates closing the acquisition soon.

 

The ETFs are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a great opportunity for using AI/ML driven portfolio management.

 

“This is an important step and milestone for SMCE.” Erik Blum CEO stated “Management continues to execute on our plan to move forward. SMCE will be changing its name and symbol to better reflect our new identity We expect to file Form 10 quickly and begin the up-listing process as soon as possible.”

 

 

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

 

Press Release Contact:

Erik Blum

CEO

SMC Entertainment, Inc.

 

Ron Hughes

Chief Operations Officer

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  04/18/2023

SMC Executes Stock Purchase Agreement to Acquire 100% of AI-enabled Wealth Management Technology Platform, Fyniti Global Equities EBT Inc.

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / April 18, 2023 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has executed a stock purchase agreement ("Stock Purchase Agreement") acquiring 100% of the issued and outstanding shares of Fyniti Global Equities EBT Inc. ("Fyniti") for equity. The closing is anticipated in the next few weeks.

Fyniti (www.fyniti.comwww.fynitiiq.com) is a Fintech developer and provider of technology that combines Artificial Intelligence/Machine Learning (AI/ML) driven Quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology. EBT is focused on democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting, and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti's IQ Engine is an AI driven contextual analyzer that creates a repository of all equity research.

Pursuant to the Stock Purchase Agreement:

  1. The Company will acquire 100% of the issued and outstanding stock of Fyniti including but not limited to all proprietary technologies, algorithms, trade secrets, and sales and marketing collateral material. Fyniti will operate as a 100% wholly owned subsidiary of the Company.

  2. The acquisition is valued at $25 million.

  3. the Company will issue 2,500,000 unregistered shares of its $10.00 Series B Preferred Stock (" Preferred Stock" to Fyniti's stockholders.

  4. the Company committed to raising up to $2,000,000 to expand Fyniti's sales and marketing programs, implement additional technology features in its AI-enabled products and algorithms, and working capital.

  5. The company will provide Fyniti with $250,000 out of the $2,000,000 to be paid on closing. The balance of the $2,000,000 raise will be paid to Fyniti in quarterly installments of $250,000 based on Fyniti's milestone achievements.

Exchange Traded Funds (ETFs) are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a fantastic opportunity for using AI/ML driven portfolio management.

"The Fyniti team is thrilled about the bright future ahead for the company, its products, and its partners as it joins forces with SMCE." Jay Gopalan CEO of Fyniti Global commented "The collaboration between Fyniti and SMCE promises to bring a wealth of valuable tools to the table as Fyniti disrupts the ETFs and MFs markets with its innovative new asset class, Fyniti Blocks. By combining the best of both worlds, Fyniti Blocks offers investors even more tools to effectively manage their portfolios with AI-driven technology. With SMCE's global reach and Fyniti's extensive domain and product expertise, this partnership marks a pivotal moment in the company's history as it launches and expands its products to a wider, global audience. The future looks bright for Fyniti through this new partnership with SMCE."

"I want to commend both teams for moving quickly. We are excited to get this executed and closed," stated Erik Blum CEO of SMCE," This key step solidifies our identity as a major player in FINTECH disruption. We look forward to moving quickly to becoming a fully reporting company and executing on plan to finish development of the Fyniti EBT platform. We are targeting Q3 with initial implementation on multiple tiers of distribution and look forward to many other strong developments as we move forward."

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:

Erik Blum
CEO
SMC Entertainment, Inc.

Ron Hughes
Chief Operations Officer
ron.hughes.operations@gmail.com
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  03/17/2023

SMC Clarifies Its Letter of Intent to Acquire a Stake in a SEC Registered and FINRA Regulated Broker Dealer

 
 
 
 
 
 
 
 

BOCA RATON, FL / ACCESSWIRE / April 18, 2023 /  SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, wishes to clarify its recent announcement to acquire a minority stake in a SEC registered and FINRA regulated broker dealer ("Broker Dealer"), based in Texas.

 

On February 28, 2023, SMC announced it signed a Letter of Intent to acquire a minority stake in Broker Dealer ("BD LOI") for equity pending FINRA approval.

 

On February 15, 2023, SMC announced it signed a Letter of Intent to acquire AI-enabled wealth management technology platform provider, Fyniti Global Equities EBT Inc. ("Fyniti") ("Fyniti LOI").

 

SMC wishes to clarify that BD LOI and Fyniti LOI are two separate transactions and will be subject to separate due diligences processes and approvals.

 

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran wall street technologists and investment bankers. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMCs multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.

 

 

Press Release Contact

Erik Blum

CEO & President

SMC Entertainment, Inc.

 

Ron Hughes

COO & Director

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  02/28/2023

SMC Signs Letter of Intent to Acquire Stake in a SEC Registered and FINRA Regulated Broker Dealer

 
 
 
 
 
 
 

Boca Raton, Florida – February 28, 2023 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has signed a Letter of Intent (“LOI”) to acquire a minority stake in a SEC registered and FINRA regulated broker dealer (“Broker Dealer”) for equity pending FINRA approval;.

 

The acquisition and execution of the definitive agreement for the Broker Dealer, based in Texas, is anticipated to close after completion of due diligence by both parties and approval from regulatory agencies including FINRA.

 

SMC recently announced its intent to acquire AI-enabled wealth management technology platform provider, Fyniti Global Equities EBT Inc. (“Fyniti”).

 

Fyniti (www.fyniti.comwww.fynitiiq.com) is a Fintech developer and provider of technology that combines Artificial Intelligence/Machine Learning (AI/ML) driven Quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading (“EBT”) technology. 

 

"These two recent acquisitions are in-line with the direction we are moving. Adding a Broker Dealer to our portfolio of companies at this juncture was paramount, as this will enable us to execute on Fyniti’s platform and facilitate the cross-product pollination into Fyniti’s products and services,” stated Erik Blum, SMC’s CEO. “We look forward to many more accretive acquisitions as we continue laying the foundation for SMC to become a premium boutique Fintech provider; to the benefit of our shareholders”

 

 

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran wall street technologists and investment bankers. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital market domains. Fyniti owns the IQ Engine and EBT technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC’s multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.

 

 

Press Release Contact

Erik Blum

CEO

SMC Entertainment, Inc.

 

Ron Hughes

Corporate Administrator

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  02/21/2023

SMC and Genesis Financial Agree to Vary Scope of Current Relationship and

Execute $3.3 Million Investment and Exclusive Distribution Agreements

 
 
 
 
 
 
 

Boca Raton, Florida – February 21, 2023 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, and Genesis Financial Inc. (“Genesis”), a diversified financial services company with a focus on Fintech-powered wealth management advisory services, are pleased to announce that they have reached an agreement to vary the nature and scope of the relationship between the two companies (“Agreement”) due to existing limitations and restrictions in the Australian financial services sector. Pursuant to the Agreement, SMC and Genesis have agreed:

 

●      to terminate the stock purchase agreement (“Stock Purchase Agreement”) that was executed on November 18, 2021, between SMC and Genesis whereby SMC acquires majority interest in Genesis;

●      SMC grants Genesis the right to acquire a 10% equity interest in SMC for the sum of $3,000,000 by issuing 300,000 Series B Preferred Shares of SMC to Genesis (on a fully diluted basis); giving SMC a valuation of $30 million post completion of SMC’s recently announced Letter of Intent to acquire AI-enabled wealth management technology platform provider, Fyniti Global Equities EBT Inc. (“Fyniti”);

●      SMC receives $300,000 from Genesis; $50,000 upon Agreement execution and $250,000 within sixty (60) days thereafter;

●      SMC and Genesis will execute a distribution agreement (“Distribution” Agreement”) whereby Genesis will market, promote, and distribute SMC’s Fintech products on exclusive basis in the Australian market. As an inducement for signing the Distribution Agreement, SMC will issue to Genesis 20,000,000 common shares from SMC’s treasury. These shares will be “restricted securities” for purposes of the 1933 Act or Rule 144 for at least two (2) years from date of issuance;

●      Mr. Chuck Provini will remain on SMC’s board of Directors; and

●      Mr. Warwick Kerridge will head SMC’s newly created advisory board and will be SMC’s consultant in Australia.

 

“It has become clear that the regulatory framework within which our business operates demands a separation of product and service and to that end it is necessary that the nature of our commercial relationship needed to change to ensure that both parties and their respective stakeholders have a clear vision of the services they offer and the manner in which those products and services are marketed,” said Warwick Kerridge, Director of Genesis. “The changes that we have agreed to will allow both companies to work together in an environment that is not conflictual and is complimentary. This is by no means an agreement to separate but one which allows a closer connection. Genesis will continue to review its broader commercial objectives regarding the wider broker dealer and advisory services and we are actively considering opportunities.”

 

"I endorse wholeheartedly the comments made by Warwick,” stated Erik Blum, President of SMC. “We look forward to working with Genesis in a more focused manner and having our Fintech products promoted in Australia under the Genesis brand name.”

 

 

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Holdings and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC’s multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.

 

 

Press Release Contact

Erik Blum

President

SMC Entertainment, Inc.

 

Ron Hughes

Corporate Administrator

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  02/15/2023

SMC Signs Letter of Intent to Acquire AI-enabled Wealth Management

Technology Platform

 
 
 
 
 
 
 

Boca Raton, Florida – February 15, 2023 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, today announced the execution of a Letter of Intent (“LOI”) to acquire 100% of Fyniti Global Equities EBT Inc. (“Fyniti”) for equity.

 

Fyniti (www.fyniti.comwww.fynitiiq.com) is a Fintech developer and provider of technology that combines Artificial Intelligence/Machine Learning (AI/ML) driven Quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading (“EBT”) technology. EBT is focussed in democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti’s IQ Engine is an AI driven contextual analyzer that creates a repository of all equity research. Click here to view Fyniti’s product overview and positioning, ETF basket trading, and market positioning and competitiveness.

 

Pursuant to the terms of the LOI, SMC will acquire the 100% of the issued and outstanding stock of Fyniti including all proprietary technology algorithms. The acquisition is valued at $25 million. Fyniti shareholders will receive SMC's preferred stock convertible to common. Subsequent to acceptance and closing of this transaction, management will strategize an additional capitalization plan to (a) expand Fyniti’s sales and marketing programs; (b) implement additional technology features in its AI-enabled products and algorithms; and (c) expand working capital. The closing is anticipated after completion of due diligence by both parties.

 

“The ETFs are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a great opportunity for using AI/ML driven portfolio management,” says Jay Gopalan, founder of Fyniti and a wall street veteran who has in the past built wealth management and prime broking technology for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup. “Fyniti continues to embark on its journey to create next-generation technology offerings in both these markets. The Fyniti/SMC market is a perfect fit for driving deeper technology and rapid market expansion.”

 

“SMC is excited to announce this acquisition to our shareholders. We are ready to begin executing on our vision of airing multiple Fintech companies,” stated Erik Blum President of SMC. “This acquisition solidifies our commitment to expand our Fintech product offering.  The technology in the software platform is targeted for wealth management especially the values aligned investment markets. EBT + IQ combined offers the ability to customize trading baskets, addressing all aspects of index investing, from ETF trading to customized portfolio management. The AUM in global wealth management is ripe for disruption. Wealth Managers currently has over $1.25 trillion dollars being managed at all different fee levels. Fyniti’s EBT platform provides the company with a first in class fee for wealth management, ETF, and Mutual Funds. We are looking forward to quickly moving to a definitive purchase agreement and closing.”

 

About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran wall street technologists and investment bankers. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT Technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

 

Press Release Contact:

Erik Blum

President

SMC Entertainment, Inc.

 

Ron Hughes

Corporate Administrator

ron.hughes.operations@gmail.com

360-820-5973

 

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

News Release  08/23/2022

SMC/Genesis Posts Second Quarter 2022 Financial Statements Six Months 2022 Revenues of $10.7 Million and Gross Profit of $2.2 Million

 
 
 
 
 
 
 

Charleston, SC, Aug. 23, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) – a rapidly growing integrated financial technology company (“Fintech”) with a full suite of digital financial services solutions, are pleased to announce the filing of second quarter ending June 30, 2022 financial statements. Highlights of the Company’s consolidate unaudited six months of 2022 financial performance:

  • Revenues for 6-month period $10,706,514

  • Cost of revenues for 6-month period $8,492,626

  • Gross profit for 6-month period $2,213,888

  • Cash on hand as at June 30, 2022 was $518,631

  • Accounts receivable as at June 30, 2022 was $628,821
     

Erik Blum, the Company’s President, expounded: “Our first half of 2022 financial performance reflect our relentless efforts to grow the business organically. We continue to execute our business plan on a number of fronts that will include acquisitions in Australia and the United States. We look forward to the second half of 2022.”

“The Company is working diligently to complete its audited financial statements for fiscal years 2020 and 2021. Upon completion, we will file required documentation with the SEC to attain reporting issuer status. In tandem, the Company will initiate corporate actions to change its name and trading symbol to reflect its Fintech-based business plan.”

About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a rapidly growing integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
Managing Member 
J W Price LLC
561-699-9790

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/17/2022

SMC/Genesis Financial Converts $1.7 Million in Debt Holdings Into $2.5 million in Equity

 
 
 
 
 
 

Charleston, SC, Feb. 17, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) with a full suite of digital financial services solutions, is pleased to announce the confirmation of a previously submitted debt to equity conversion.

The Company had been awaiting confirmation of an executed agreement to swap $1.7 million of debt on Genesis books receiving $2.5 million in equity in another major Fintech entity/disruptor currently (in its quiet period) a midst filing its S-1.

This confirmation of execution enables Genesis to add an accretive asset to the balance sheet. The $2.5 million valuation is based on issuance without any potential growth. Genesis is convinced by seeking the conversion at this valuation will increase substantially. Genesis will be restricted from selling until the position is seasoned, but it allows the Company to strengthen its balance sheet as it moves with its own exchange uplifting.

About Genesis Financial, Inc.

Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:

Erik Blum

President

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/14/2022

Former Goldman Sachs Senior Investment Banker Joins the Board of SMC/Genesis Financial as Independent Director.

 
 
 
 
 

Charleston, SC, Feb. 14, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) with a full suite of digital financial services solutions, is pleased to announce that on February 9th the company appointed Ms. Sachie McQueen to the Board of Directors.

 

Ms. McQueen is an acknowledged senior investment banker with over 10 years of global equity sales and research experience in top investment banks such as Goldman Sachs and Credit Suisse. She has been rated Top 3 in Institutional Investors Magazine survey for five consecutive years from 2004-2009. In 2010, Ms. McQueen started working at Amazon.com INC headquarters in Seattle serving as a senior financial analyst providing financial analysis and oversight for Amazon's financial operations.

Quoting Ms. McQueen “I am extremely excited to join the SMC/Genesis Financial as an Independent Director. Knowing that the Company has such high growth potentials, unique opportunities and strong pipelines in the $3.9 billion Australian Wealth Management industry, I am looking forward to contributing my experience and expertise in the financial industry to expand the business, explore new sources and connect the two nations with my fellow Board members. I look forward to helping the company execute

in the near future”

“I am honored and look forward to having Sachie join our Board. She not only brings substantial financial business experience but a meaningful understanding of international markets. This compliments the group we are assembling to provide a worldwide investment organization providing products and services to our clients and Advisors without being hampered by geographic boarders.” Stated Chuck Provini Chairman of the Board

About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
President
SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/10/2022

SMC Genesis Financial Enters into New Australian Joint Venture

 
 
 
 

Charleston, SC, Feb. 10, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its wholly owned subsidiary Genesis Financial are pleased to announce that they have executed on the next phase of their expansion plans in Australia.

The Company has finalized its accountant’s practice and development Joint Venture with Best Practice Accounting Group, BPAG. The Joint Venture has been executed and will be launched this morning. The first three targeted accounting practices have already signed up.

The Joint Venture will be co-managed by Nick Brooks, the current executive director of the FinancialLink Group (TFLG) and John Peterson, CEO of Best Practice Group (BPAG).

The new joint venture will assist Australian Accountants and Financial Advisers to create a bespoke one-on one platform throughout Australia. While the concept of Accountants and Financial Advisers partnering to deliver value to clients is not a new one, there has never been a strategic initiative on behalf of both industry sectors on this scale before. This strategic partnership will provide an entirely new growth and succession plan for Accountants and Financial Advisors .and provide management, and financial continuity for clients into the future.

"Both Accountants and Advisers have skin in the game," says John Peterson, founder of Best Practice Accountants Group. "Both parties work well together when structured to do so. Our development programs create income for both Accountants and Advisers and both are rewarded properly in the short and long term through profit distribution and balance sheet participation. There are 34,000 public accountants of which 55% are over the age of fifty, and do not have a succession plan. The vast majority of them (circa 90%) also don't have a financial planning business unit operating alongside their accounting business”

The unique model offers equity participation for both Accountants and Financial Advisers. Participants are vetted for suitability through the Best Practice Quality Assurance program, then actively supported from inception and thereafter. The AFSL, compliance, and specialist financial adviser support is provided by TFLG’s national and state support team.

TFLG Executive Director Nick Brookes said that “Traditional referral" based models between Accountants and Advisers have failed to deliver long-term success for both parties. Advisers have often been criticized by Accountants for lacking long term commitment only being interested in the "low hanging fruit" referral opportunities, while Accountants have consistently been criticized by Advisers for a lack of consistency of "active referrals" without Advisers having to do a lot of leg work to remain "top of mind" when it comes to generating those referrals from Accountants”.

The new joint venture offers a more diligent recruitment and selection criteria for both Accountants and Financial Advisers, only pairing up those parties that demonstrate similar levels of long-term commitment to the Intergenerational Business Model

The Joint venture will provide financial and wealth planning services, as well as client development services to qualifying accounting firms in Australia

“We are very excited about the launch of the BPAG under the “Best Practice Nextgen” brand. We see great potential in the project. It will give us a meaningful and obvious benefit and advantage in the marketplace in general, and Australia in particular. This allows us to leverage and expand our resources and capabilities to accountants, qualified investors and the self-managed super funds in Australia.” said Chuck Provini, our chairman.

Linking the USA to Australia

Australia and the United States are trusted trade and investment partners conducting US$65 billion in two-way trade and an investment relationship valued at US$1.1 trillion. Several factors promote US/Australia investment activity that SMCE Genesis Financial is positioned to capitalize on. Macro factors promoting Australia investment into the US include. 

· 27 years of uninterrupted economic growth -Australia's strong, diverse, and growing economy adds up to more opportunities. 

· Institutional strength - Strong institutions, an exceptional services sector, and an ability to respond to global change. 

· World-class innovation - Australia supports world- class, globally significant research, and development opportunities. 

· Investment focused - Superannuation system plus returns from mining and property have increased the Australian investment pool.

Australia a Gateway to the Asian Markets 

Australia is also well-positioned in the world's fastest growing region, the Asia-Pacific. With strong trade links, strategic location, a favorable time zone and a highly educated, multilingual workforce, Australia is uniquely positioned as a location to do business in the Indo-Pacific. 

US investment comes to Australia to invest in Asia-Pacific and Asian/Australian investment goes to the US to invest in opportunities in the world’s financial capital. 

About Genesis Financial, Inc.

Genesis, with twenty-three employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least ten million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:

Erik Blum
President
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/09/2022

SMC/Genesis Financial Announces Completion of 2019 and 2020 PCAOB Audits in preparation for S-1 Registration Filing

 
 
 

Charleston, SC, Feb. 09, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) with a full suite of digital financial services solutions, are pleased to announce the completion of fiscal years 2019 and 2020 financial statement audits. The Company has commenced on fiscal year 2021 financial statement audit and expects to complete it very shortly.

Completing the Company’s PCAOB financial audit is a critical and major milestone that ensures the timely filing of the Company’s S-1 Registration statement with the SEC to attain reporting issuer status. The S-1 Registration statement will also provide our shareholders and the public at large additional clarity on how the Company intends to execute its business plan and revenue growth; organically or thru joint ventures/acquisitions.

About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
President
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/07/2022

SMC Genesis Financial shareholder update on USA Expansion seeking to acquire Broker-Dealer and RIA business

 
 

Charleston, SC, Feb. 07, 2022 (GLOBE NEWSWIRE) -- SMCE and its wholly owned subsidiary Genesis Financial are activity seeking acquisition opportunities within the USA. The Company recently engaged a banker to find accretive acquirable US based opportunities. SMCE has signed two term sheets and is currently conducting extensive due diligence on the potential acquisitions. It is expected that financial close of the initial transactions will occur within 60 days

After completing the successful acquisitions SMC/Genesis will have approximately AUD$2 billion of funds under management. Each acquisition we have identified both in Australia and the US is targeted to increase the FUM and FUA as well as the access to distribution and product pipeline both domestically and cross border. The integration of businesses in both territories is expected to increase the potential for funds management and capital markets business considerably.

Erik Blum President of SMCE stated “Distribution is core to the expansion of our USA business and has been our immediate focus. The correlation between funds under management and expansion of growth is a key advantage when commencing a fund management business. The acquisitions will provide us a greater speed to market, while building FUM and allowing direct access to our platform.”

We are committed to the continued structure of our business to enable SMCE to be recognized as a significant player in the financial services sector and one of the few enterprises that has a Aust/USA coverage” said Chuck Provini, our Chairman.

Linking the USA to Australia

Australia and the United States are trusted trade and investment partners conducting US$65 billion in two-way trade and an investment relationship valued at US$1.1 trillion. Several factors promote US/Australia investment activity that SMCE Genesis Financial is positioned to capitalize on. Macro factors promoting Australia investment into the US include. 

· 27 years of uninterrupted economic growth -Australia's strong, diverse and growing economy adds up to more opportunities. 

· Institutional strength - Strong institutions, an exceptional services sector and an ability to respond to global change. 

· World-class innovation - Australia supports world- class, globally significant research and development opportunities. 

· Investment focused - Superannuation system plus returns from mining and property have increased the Australian investment pool.

Australia a Gateway to the Asian Markets 

Australia is also well-positioned in the world's fastest growing region, the Asia-Pacific. With strong trade links, strategic location, a favorable time zone and a highly educated, multilingual workforce, Australia is uniquely positioned as a location to do business in the Indo-Pacific. 

US investment comes to Australia to invest in Asia-Pacific and Asian/Australian investment goes to the US to invest in opportunities in the world’s financial capital. 

About Genesis Financial, Inc.

Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:

Erik Blum

President

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  01/31/2022

SMC/Genesis Financial, Announces Retirement of an additional 40,000,000 Shares from Outstanding Common Shares Provides Audit Update

 
 

Charleston, SC, Jan. 31, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) are pleased to provide this audit update and announce the cancellation of 40,000,000 common shares from the Company’s outstanding shares. This cancellation was effective January 25, 2022, per confirmation correspondence with the Company’s stock transfer agent.

The Company is also pleased to announce that it has provided its auditor with all requested documentation to complete the 2019 and 2020 fiscal year financial statements. Fiscal year 2020 financial audit will commence immediately and will be completed shortly. The Company’s management team and board of directors have decided to audit fiscal year 2021 in anticipation of consolidating balance sheets and becoming a fully reporting company.

In the Company’s press release dated January 6, 2022, the Company outlined a number of initiatives regarding the audits and share cancellation. This share cancellation announcement is part of those initiatives, and the Company is incredibly pleased to deliver on those initiatives. In addition, the Company has submitted to its stock transfer agent another block of shares to be cancelled. The company has presented executed instructions of the agreement between the Company and shareholder and is awaiting its stock transfer agent to provide written cancellation confirmation.

About Genesis Financial, Inc.
Genesis, with twenty-three employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least ten million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Erik Blum
President
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  01/06/2022

SMC and Genesis Financial, a Fintech Provider of Integrated Digital Financial Services, Provides Fiscal 2021 Recap and Guidance for Fiscal 2022

 

Charleston, SC, Jan. 06, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its wholly owned subsidiary, Genesis Financial, Inc. (“Genesis”) - a fully integrated financial technology company with a full suite of digital financial services solutions, are pleased to provide shareholders with a summary of the Company’s fiscal 2021 completed milestones and fiscal 2022 planned activities and guidance.

Dear Shareholders,

We wish you a healthy and prosperous 2022. For the first three quarters of fiscal 2021, the Company divested itself from certain assets that were previously acquired by the Company’s former management team and cancelation of over $600,000 long-term debt. During the fourth quarter of 2021, the Company announced the following:

  • The closing of its $45 million acquisition of Genesis to transform itself to a boutique premium provider of fully integrated financial technology company with a full suite of digital financial services solutions. For the first nine months of 2021, Genesis’s Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT (Earnings Before Income Tax) of approximately $1,035,600 (AUD$1,403,919); all figures are unaudited. At closing, 56 stockholders of Genesis representing 95.28% of the common stock of Genesis have accepted SMC’s offer. It is expected the remaining Genesis stockholders (representing 4.72% of Genesis common stock) will come on board very soon.
     

  • The Company engaged the independent auditing firm BF Borgers CPA PC, a PCAOB-certified auditor, to complete SMC's financial statements audit for the years ending in 2019 and 2020.
     

  • The Company retained Buckman, Buckman & Reid, Inc. to provide investment banking services, help in facilitating a capital raise and other advisory services.
     

  • The Company expanded its board of directors by adding Mr. Charles R. Provini as an independent director and chairman of the board and added Mr. Warwick Kerridge as a director.

The Company’s upcoming activities for 2022 include but not limited to:

  • File required documentation with regulatory bodies to attain reporting issuer status. This milestone will be initiated after the completion of the Company’s 2019 and 2020 financial statements audit.
     

  • Up list to a senior exchange once the Company attains its reporting issuer status with the SEC.
     

  • Raise funds of up to $15 million for working capital and future acquisitions. The Company has an aggressive agenda to increase revenues and expand its operation globally thru growth by acquisition strategy.
     

  • Retire restricted shares. Two shareholders have provided written approval to the Company and its stock transfer agent to cancel 23 million restricted shares. Their certificates are lost and all parties are working on alternative plans to cancel them. The Company is waiting for a third shareholder to execute appropriate documentation to cancel 40 million restricted shares; the Company has in its possession the 40 million share certificate. The Company provided a proposal to a fourth shareholder to cancel 30 million restricted shares; the proposal expired and the Company didn’t hear back from the shareholder. The Company provided a proposal to a fifth shareholder to cancel 200 million restricted shares; the shareholder provided a counter proposal that is not acceptable to the Company. The Company might be forced to seek legal avenues to cancel the 230 million shares. The Company would like to inform the public that these shares are restricted and cannot be turned to free trading shares without the Company’s consent which the Company won’t provide without an amicable solution reached.
     

  • Our Australian operation has concluded terms for the launch of a new joint venture enterprise in Australia which will be launched in Q1 2022. This joint venture consolidates our ties to the accounting sector in Australia and delivers financial planning and wealth management as well as best practice training and management solutions to the targeted accounting firms in Australia. It also accesses significant funds under advice and funds under management. Details of this Joint Venture will be announced in the coming weeks following completion of the due diligence and financial plan regarding the Joint Venture.
     

  • Consistent with our growth plans we have identified potential acquisitions in both the United States and Australia. Preliminary due diligence is currently under way.

Fiscal year 2022 will be a defining year for the Company and its shareholders. With the acquisition of Genesis and the planned rapid growth through implementation of our acquisition strategy, the Company’s revenues could potentially reach new heights in the Company’s history. One of the Company’s utmost mandates is to focus on realizing full value of its Genesis acquisition to be reflected in a much higher share price. The Company has assembled a highly experienced team in place to capitalize on the stated objectives and initiatives.

Respectfully yours,
Management Team and Board of Directors

About Genesis Financial, Inc.

Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions. Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
Chief Executive Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/15/2021

SMC Announces the Engagement of Corporate Law Firm Anthony L.G., PLLC

 

Charleston, SC, Dec. 15, 2021 (GLOBE NEWSWIRE) -- SMC Entertainment Inc. ("SMC" or the "Company," OTC: SMCE), a fully integrated financial technology company with a full suite of digital financial services solutions, today announced the immediate engagement of Anthony L.G., PLLC.

The Company is now served by a very well respected Corporate Law Firm. As the Company works towards a successful move to a more senior exchange, Laura Anthony’s firm will be of great value, especially through the transition phase of Company.

About Anthony L.G., PLLC 
Securities Attorney Laura Anthony is the founding partner of Anthony L.G., PLLC, a national corporate, securities and business transactions law firm. For 28 years Ms. Anthony has focused her law practice on small and mid-cap private and public companies, NASDAQ, NYSE MKT, the OTC market, initial public and follow on offerings, mergers and acquisitions, private placement and corporate finance transactions, Regulation A/A+, Exchange Act and other regulatory reporting requirements, state and federal securities laws, general corporate law and complex business transactions.

About Genesis Financial, Inc.
Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. In 2021 SMC acquired Genesis Financial, Inc., a diversified financial services company focusing on fintech-powered wealth management business. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
Chief Executive Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/15/2021

Charles R. Provini Appointed Independent Director & Chairman of SMC

 

Point Roberts, WA, Dec. 15, 2021 (GLOBE NEWSWIRE) -- SMC Entertainment Inc. ("SMC" or the "Company," OTC:SMCE), a fully integrated financial technology company with a full suite of digital financial services solutions, today announced the Board of Directors of the Company increased the size of its Board from two to three directors and appointed Charles R. Provini as an Independent Chairman. Under NYSE and NASDAQ listing standards, Mr. Provini will be compensated for his services on the Board in cash and stock-based equity. The Company currently has two executive directors, Ronald E Hughes and Warwick Kerridge.

Mr. Provini brings stellar leadership and governance experience spanning several decades, starting from United States Naval Academy to the private sector. He brings deep insights into asset management, investment banking, advisory services, and technology. He is a frequent speaker at financial seminars and has appeared on several mainstream media outlets discussing financial markets and, more recently, the solar industry.

"I am honored to be appointed as Chairman of the Board and look forward to taking a very active role in growing, what I feel, is an organization that the international markets truly need. The group of individuals assembled reflect many years of experience and success patterns that I am confident we can leverage to even greater success as a result of this merger." said Charles R. Provini, newly appointed Chairman of the Board.

From May 2009 to present, Mr. Provini holds the Chairman, CEO, and President positions of Natcore Technology Inc., a research and development company protecting 65 patents, granted and or pending. From November 1997 to October 2000, he was the President of Ladenburg Thalmann Asset Management and a Director of Ladenburg Thalmann, Inc., one of the oldest members of the New York Stock Exchange. He served as President of Laidlaw Asset Management and Chairman and Chief Investment Officer of Howe & Rusling, Laidlaw's Portfolio Management Advisory Group, from November 1995 to September 1997. Before this, he served as President of Rodman & Renshaw's Advisory Services from February 1994 to August 1995. He was the President of LaSalle Street Corporation, a wholly-owned subsidiary of Donaldson, Lufkin & Jenrette, from January 1983 to April 1985. Mr. Provini has been a leadership instructor at the U.S. Naval Academy, Chairman of the U.S. Naval Academy's Honor Board, and is a former Marine Corp. Officer. Mr. Provini holds an undergraduate Engineering degree from The U.S. Naval Academy in Annapolis, Maryland, and a post-graduate degree from the University of Oklahoma.

“Chuck and I have worked together for some time and it has been a pleasure to observe his skills and insights. His understanding of thre Genesis business and its growth objectives will be invaluable to our company and I was delighted that he accepted my invitation to join our board. Chuck will not only be a leader but will take an ongoing role to guide and assist us into what will be an exciting period of growth and development. The move to a superior market will only be enhanced with the benefits of the experience of someone like Chuck” observed Warwkick Kerridge, Executive Director.

“I'm very honored and pleased to welcome Mr. Provini to the Board of Directors. As a proven leader in his illustrious career, Mr. Provini has in-depth knowledge when providing oversight and governance. As we continue to execute our fintech-driven acquisition strategy, we look to working closely with Mr. Provini, who can supervise our strategic initiatives, audit, and risk management," said Ron Hughes, CEO “ providing oversight while stearing this growing company.”

About Genesis Financial, Inc.

Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. In 2021 SMC acquired Genesis Financial, Inc., a diversified financial services company focusing on fintech-powered wealth management business. For more information on SMC, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
Chief Executive Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/14/2021

SMC Retains Buckman, Buckman & Reid to Provide Investment Banking and Up Listing Advisory Services

 

Point Roberts, WA, Dec. 14, 2021 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its 100% wholly owned subsidiary Genesis Financial, Inc. (“Genesis”), a diversified financial services company with a focus on fintech-powered wealth management advisory services, are pleased to announce that they have retained Buckman, Buckman & Reid, Inc. (“BB&R”) to provide investment banking services, help in facilitating a capital raise and other advisory services.

BB&R, founded in 1988 and based in Little Silver, New Jersey, is an independent full-service securities brokerage firm (broker/dealer) engaged in a variety of activities, including retail and institutional brokerage, wealth management, investment advisory services, private offerings and other investment banking activities.

Pursuant to the engagement agreement (“Agreement”), BB&R will review SMC’s business and financial condition, corporate structure and to advise on future acquisitions, financing, and growth.

 "BB&R is the right partner for us at the right time" quoted Erik Blum President of SMC’s Genesis Financial "This is a huge step in our ability to raise capital, up-list and vet the acquisitions we have targeted. I have known and worked with BBR and Mr. Furman for many years; their reputation for excellence precedes them. With BBR as our partner we believe we have all the right tools in place for us to execute on our vision. I am thrilled that we were able to engage BBR and we look forward to achieving what is necessary to grow our company".

“It’s a privilege to be working with Mr. Blum and the leadership team to help navigate the company’s transformation and growth over the coming years. Our focus is to assist in that growth and to build a company that drives shareholder value in their markets.” stated Scott Furman, Head of Investment Banking.

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. In 2021 SMC acquired Genesis Financial, Inc., a diversified financial services company focusing on fintech-powered wealth management business. Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Accounting and The Financial Link Group. For more information on Genesis, visit www.ballast.com.au and www.tflg.com.au. For more information on SMC, visit www.smceinc.com.

 About Buckman, Buckman & Reid, Inc.

Buckman, Buckman & Reid, Inc., founded in 1988 and based in Little Silver, New Jersey, is an independent broker/dealer that provides value added investment advice and execution services to clients. For additional information, see www.buckmanbuckman.com.

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/13/2021

SMC Moves to establish ESOP 

 

Point Roberts, WA – December  13,  2021 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its subsidiary Genesis Financial, Inc. (“Genesis”), a diversified financial services company with a focus on fintech-powered wealth management advisory services, are pleased to announce that consistent with their intentions as stated in the definitive agreements, have engaged attorneys to prepare an Executive and Employee Share Option Plan (ESOP) to provide the basis for a model to reward and remunerate advisors, executives and shareholders as the case may be.

 "In a financial services firm, Human Capital is the single greatest asset, and it is vital that we have the ability to provide ongoing incentives and rewards to our greatest asset; the people that work for us whether they are advisors or executive management." quoted Warwick Kerridge, director of SMC. 

 "In addition to Warwick’s comment, the proposed stock option plan can be used as a tool to recruit new advisors to our group and will provide a unique point of difference between our group and others in the financial planning, broking and advisory sector.” quoted Eric Blum, President of SMC. “I am thrilled that we are able to immediately move to start the process of transformative change, which will enhance our group in all respects.” 

SMC CEO, Ron Hughes agreed wholeheartedly. Further announcements regarding the detail of the ESOP will be announced as required in the near future.

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Holdings and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. In 2021 SMC acquired Genesis Financial, Inc., a diversified financial services company focusing on fintech-powered wealth management business. Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are the Ballast Group and The Financial Link Group. For more information on Genesis, visit www.ballast.com.au and www.tflg.com.au. For more information on SMC, visit www.smceinc.com.

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/13/2021

SMC Closes $45 Million Acquisition of Genesis Financial Inc.,

a Fintech-Powered Wealth Management Service Provider 

 

Roberts, WA – December 13, 2021 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is pleased to announce that on December 10, 2021 it closed its $45 million acquisition of Genesis Financial, Inc. (“Genesis”), a privately-owned diversified financial services company with a focus on fintech-powered wealth management advisory services. Genesis will operate as a subsidiary of SMC. At closing, stockholders of Genesis representing 95.28% of the common stock of Genesis have accepted SMC’s offer. It is expected the remaining Genesis stockholders (representing 4.72% of Genesis common stock) will come on board very soon.

 

SMC has delivered to Genesis, the proportionate percentage of accepted stockholders, the agreed upon purchase price of $45 million in SMC’s Series B Preferred Shares. Post closing, and SMC will issue 20 million warrants exercisable at $1 per warrant with a 3-year exercise period which will be used for operational, capital management and acquisition purposes. Mr. Warwick Kerridge, Chairman of Genesis, has been appointed to SMC’s Board of Directors. Mr. Charles Provini, proposed by Genesis, will join SMC’s Board of Directors as an independent director.

 

With the Genesis acquisition, not only will SMC add a substantial revenue to its top line, but will also more than double its shareholder base. From the revenue standpoint, SMC will have the option to commence booking Genesis’ revenues and expenses as of December 10, 2021 or differ such bookings starting January 1, 2022. 

 

SMC’s upcoming action items and milestones to achieve are as follows: (i) commence discussions with institutional investment banks to raise $15 million for operational, working capital and future acquisitions; we expect to make investment banking-related announcements in due time; (ii) complete 2-year financial audits; (iii) file required documentation with regulatory bodies to attain a reporting status with the SEC; and (iv) uplist to a senior exchange with a name/stock symbol change.

 

Genesis, currently having 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. For the nine months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT (Earnings Before Income Tax) of approximately $1,035,600 (AUD$1,403,919). All figures are unaudited.

 

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

 

“I am very pleased the first major step in the evolution of Genesis has been completed and I congratulate and thank Ron, Erik and their team for assisting very capably,” said Warwick Kerridge, SMC’s new director. “We will now work together to finalize the next stages of the development of the group and have a number of transactions under review that we believe will position the company to provide best practice services to its clients and value to its stockholders.”

 

"This is a major inflection point for our company and our shareholders” quoted Erik Blum, President of SMC ``I want to thank the entire team for having laid a solid foundation for Genesis Financial to move forward. We are committed to executing on plan and growing our company. This first major step shows management's commitment to growing the company and enhancing shareholder value. We are now a profitable company earning $1.2 million in Ebitda. I look forward to 2022 as we have targeted multiple accretive acquisitions to grow our current 17 million dollar revenue base. We are committed to expanding our business and enhancing our shareholder value."  

 

“Since announcing our LOI on November 10th, it’s been impressive working with Erik Blum and Warwick Kerridge through the due diligence in bringing the transaction to completion.” commented Ron Hughes, CEO of SMC “Considering the time zones of Australia and both coasts of North America, we have expedited the multiple facets of the transaction and executed to deliver a closed deal. All shareholders, new and old will see an exciting 2022.”

 

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Group and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company that is focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC’s multi-discipline growth by acquisition approach is a building platform and block to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.

 

 

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

 

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  12/06/2021

SMC Provides Update on its Acquisition Closing of Genesis Financial Inc.

 

Point Roberts, WA December 6, 2021 SMC Entertainment, Inc. (SMC or the Company) (OTC: SMCE) and its 100% wholly owned subsidiary Genesis Financial, Inc. (Genesis), a diversified financial services company with a focus on fintech-powered wealth management advisory services, are pleased to provide the following update to close the acquisition transaction.

 

  • SMC has appointed Mr. Warwick Kerridge, Chairman of Genesis, to SMCs Board of Directors. The appointment is effective immediately.

  • SMC has filed with the State of Nevada required documentation to designate Series B Preferred Stock that will be issued to Genesis stakeholders.

  • SMC has updated its profiles on OTC Markets and Nevadas Secretary of State to reflect Mr. Kerridges board appointment. The profile updates might take up to 48 hours to be reflected.

  • SMC is still anticipating closing the transaction on or before December 10, 2021.

 

As a background: on November 22, 2021, SMC announced the execution of a definitive share purchase agreement to acquire 100% equity in Genesis. The acquisition is valued at $45 million and will be paid thru the issuance of Series B Preferred Stock to Genesis stakeholders. The Genesis acquisition is scheduled to close on or before December 10th, 2021. Genesis, currently having 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. For the nine months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT (Earnings Before Income Tax) of approximately $1,035,600 (AUD$1,403,919). All figures are unaudited.

 

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered wealth management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Accounting and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company that is focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMCs multi-discipline growth by acquisition approach is a building platform and block to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/22/2021

SMC Acquires 100% Equity Interest in Genesis Financial Inc.,

a Fintech-Powered Wealth Management Service Provider

 

Point Roberts, WA – November 22, 2021 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is pleased to announce that it has executed a definitive share purchase agreement (“Agreement”) acquiring 100% equity interest in Genesis Financial, Inc. ("Genesis"), a diversified financial services company with a focus on fintech-powered wealth management advisory services.

Genesis, currently having 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. For the nine months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT (Earnings Before Income Tax) of approximately $1,035,600 (AUD$1,403,919).   All figures are unaudited.

The Genesis Tacquisition is scheduled to close on or before December 10th, 2021. Salient points of the SMC, Genesis transaction are set out as follows;

Pursuant to the Agreement: 

       (i)      The acquisition is valued at $45 million; 

 

       (ii)     SMC will issue convertible Series B Preferred Shares (”Series B Preferred”) with a redemption                   value equal to $45 million; 

   

       (iii)    The Series B Preferred are convertible to common shares, in accordance with the SEC Rule                       144 restrictions, at a discount of 10% to the preceding 10-day weighted average price prior to                 any conversion; 

 

       (iv)    The new board is authorized to issue up to 20m warrants to Genesis stakeholders and other                     strategic partners, vendors and advisors at an exercise price of $1 per warrant with a 3-year                     exercise period from the date of issue; 

 

       (v)    Genesis shall be entitled to nominate two members to the board of directors and the                                management and executive team of the company will be expanded to reflect the new growth                platform. The board will negotiate management and consulting agreements with the                                extended executive and management team; 

 

       (vi)   Immediately on closing, SMC will perform a 2-year audit of its financial statements, attain a                      reporting issuer status with the SEC, undertake a company name and symbol change, and                        commence the  process to up list to a senior public listing exchange; and 

 

       (vii)  SMC will embark on a capital raise of $15 million for further expansion, acquisitions and                            working capital.

 

“I am very pleased that the first stage of our consolidation and growth plan has been completed, and we look forward to working together to take our company to the next phase of its development.” stated Warwick Kerridge, Chairman of Genesis. “We are now positioned to finalize a business model that delivers for our advisors, and those wishing to join us, an opportunity to generate both revenues and value for themselves. This includes our dealer group and delivers to our clients the best practice advisory platform. Finally, but by no means least, we are nicely positioned to provide our stakeholders with the opportunity to be with us at such an exciting time in our corporate journey.”

Erik Blum President of SMC commented “This is an exciting time and a major inflection point for both companies, as a first step in developing Genesis as the premier FinTech financial services disruptor. The commitment from both teams to realize our combined vision has been tremendous. Management has over 60 years combined experience in financial services, and we have a well-developed plan for disrupting the industry. I am looking forward to quickly closing the transaction, consolidating the books, engaging institutional investment funds, starting the process of up listing, and executing on our clear vision”. 

Ron Hughes, Chairman and CEO of SMC, stated “The market, I believe will be pleasantly awakened to this acquisition. Genesis has a wonderful path ahead of itself, and I am very pleased that our shareholders will be the beneficiaries of Genesis’ expansion into the United States. Closing this transaction can clearly put 2022 on notice, that it will be a rousing year indeed for both Genesis and SMC shareholders.”

 

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered Wealth Management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Accounting and The Financial Link Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

 

About SMC Entertainment, Inc.

SMC is a versatile holding company that is focused on acquisition and support of proven commercialized financial services and technology (fintech) companies. SMC’s multi-discipline growth by acquisition approach is a building platform and block to enhance revenues and shareholder equity. For more information, visit www.smceinc.com

 

 

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/18/2021

SMC Engages PCAOB-Certified Auditor to Audit Its 2-year Financial Statements

in Preparation of Becoming Fully Reporting Company

 

Roberts, WA – November 18, 2021 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is pleased to announce it has engaged the independent auditing firm BF Borgers CPA PC (“Borgers”) as its certified public accountant to audit SMC’s financial statements for the past two years in preparation of SMC filing required documentation with the SEC to attain a reporting issuer status.

 

On November 10, 2021, SMC announced the execution of a letter of intent to acquire 100% equity in Genesis Financial Inc. (“Genesis”). Genesis, a diversified financial services company with a focus on fintech-powered wealth management advisory services, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. For the nine months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT of approximately $1,035,600 (AUD$1,403,919). All figures are unaudited.

 

Borgers will initially focus on auditing SMC’s financial statements for the past two years. After SMC’s acquisition closing of Genesis, Borgers will audit SMC and Genesis financial statements on consolidated basis. Borgers has already audited Genesis’ financial statements for the years 2019 and 2020. Selecting and retaining the services of Borgers makes SMC’s future consolidated financial statements audits, inclusive of Genesis, expeditious and cost effective.

 

In addition to the audit milestone announcement, SMC is pleased to provide a progress report on the Genesis acquisition closing:

 

  • SMC and Genesis have exchanged second draft of the definitive agreement. SMC anticipates signing the definitive agreement soon and plans to close the acquisition in calendar 2021.

  • SMC has held discussions with a number of investment banking firms/hedge funds to either lead or syndicate SMC’s capital raise to support the Genesis acquisition. SMC will make appropriate announcements once investment partners have been selected.

  • SMC will be coordinating activities with its securities attorney to file required documentation with the SEC to attain a reporting issuer status. This filing will be after the closing of the Genesis acquisition and completion of consolidated audited financial statements for the combined entities. After becoming a reporting issuer, SMC plans to apply for a company name and symbol change, and up list to a senior exchange.

 

Ron Hughes, Chairman and CEO of SMC, and Erik Blum, President of SMC, both stated, “We are extremely pleased with the speed and progress of this acquisition. We’re very thankful to our Genesis partners who have been very proactive and receptive to our initiatives shedding weeks and months, from the acquisition process. Without the full cooperation of the Genesis team, we wouldn’t have progressed thus far. We would also like to take a moment to thank our valued shareholders and financial supporters who have been waiting for a long time to consummate a deal of this caliber.”

 

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered Wealth Management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. The two operating subsidiaries are Ballast Accounting and The FinancialLink Group. For more information, visit www.ballast.com.au and www.tflg.com.au.

 

About BF Borgers CPA PC

Borgers is a full-service, PCAOB (Public Company Accounting Oversight Board)-certified public accounting firm, providing audit, tax, and consulting services. For more information, visit www.bfbcpa.us.

 

About SMC Entertainment, Inc.

SMC's multi-discipline revenue approach provides a building block to enhance both revenue and balance sheet growth thru acquisitions. For more information, visit www.smceinc.com.

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

 

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/16/2021

SMC Entertainment Provides Shareholder and Performance Update and a Message from its Newly Appointed President

 

POINT ROBERTS, WA / ACCESSWIRE / November 16, 2021 / The newly-appointed president of SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), Mr. Erik Blum, is pleased to provide a personal message and year-to-date shareholder and performance update.

To our valued shareholders:

I'm excited and thankful for SMC's Board's vote of confidence in me as the new president and it's with great honor to be part of SMC's management team. As your new president, I intend to accelerate our agile and rapid growth strategy by focusing on our immediate goals which include raising capital, become a fully reporting company, up listing to a senior tier and explore additional acquisitions and partnerships. With its recent acquisition announcement of Genesis Financial Inc.("Genesis"), SMC is transforming itself to take advantage of emerging trends in the Financial Technology ("Fintech") industry.

Post-acquisition of Genesis, SMC management team will be an ensemble of seasoned and talented professionals with decades of experience in the financial and Fintech industries, managing and growing public companies to name a few. Our quest for sustainable growth will be relentless for years to come.

To reflect on fiscal year 2021, I'm pleased to provide the following shareholder and performance highlights.

Debt Retirement.

As reported in an earlier press release, SMC retired $600,000 in long term debt in the form of convertible note with zero dilution to our shareholders. In our 2021 third quarter Disclosure Statement filings, under Subsequent Events section, we announced that SMC has forwarded a share cancellation and debt retirement proposal to a former executive of the Company for a lump sum buyout. SMC will make an announcement once the proposal has been accepted and an agreement is executed. SMC will use a similar proposal for other former executives, consultants, and debt holders to retire debt. Our goal is to retire (or convert to preferred stock) as much debt as possible to enhance and strengthen our balance sheet in anticipation of senior capital funding.

Share Capital Structure.

As at 11/15/2021, SMC's total outstanding common shares were 672,126,974 representing 498,339,506 restricted shares and 173,787,468 unrestricted shares. SMC is seeking to cancel a total of 270,000,000 restricted shares: (i) 200,000,000 shares held by a former executive; (ii) 30,000,000 shares held by a former consultant; and (iii) 40,000,000 shares from unwinding a prior acquisition. SMC will be creating preferred stock series to incentivize its management team and company insiders, preserving common shares for capital funding while minimizing dilution. At least one preferred stock series will have super-voting rights providing management with expeditious execution of corporate actions.

Please note, SMC's share count of 672,126,974 outstanding and 498,339,506 restricted is the correct count compared to what OTC Markets is displaying on our profile. This 20,000,000 share discrepancy stems from an April 1, 2021, share cancellation that SMC already accounted for, however, SMC's Transfer Agent has not processed the cancellation request. SMC and its Transfer Agent are rectifying the discrepancy.

Unwinding of Spectrum Entertainment LLC Acquisition.

As reported in an earlier press release, SMC announced it entered in discussion with the former members of Spectrum Entertainment LLC("Spectrum") to rescind SMC's acquisition of Spectrum. As part of the rescission agreement, SMC is seeking (i) the repayment of $145,274.93 which includes payments made by SMC to Spectrum's lenders, legal and accounting fees; and (ii) the return and cancellation of 40,000,000 common shares issued to Spectrum members as consideration for acquiring Spectrum. To secure its rightful ownership and protect its interest in Spectrum, until Spectrum repays owed amounts and the return of 40,000,000 shares, SMC filed a Uniform Commercial Code (UCC) filing in the states of Michigan and Wisconsin against Spectrum. SMC took these extra measures to secure, protect and preserve its investment and equity. SMC's attorney is drafting a demand letter to Spectrum seeking an amicable resolution to unwind the acquisition. In the event Spectrum decides to be uncooperative, SMC will explore other options including but not limited to seizing and selling off Spectrum's equipment to recover what's owed to SMC plus additional costs.

Non-core Wireless Asset Divestures.

In prior press releases, SMC announced the complete divesture and sale of previously owned wireless technology assets. One of the assets was sold to Wyoming-based privately held Aktiv-Trak, Inc. ("Aktiv-Trak") for $600,000 in cash and future Aktiv-Trak common shares ("Aktiv-Trak Shares"). Aktiv-Trak will pay SMC a minimum of $250,000 in cash and the balance in either cash, Aktiv-Trak Shares, or a combination of both. Total cash received year-to-date from Aktiv-Trak is $102,000.

In summary, fiscal year 2021 has been a challenging year not only for SMC's management but also for our valued shareholders. As we get closer to completing our acquisition of Genesis, we look forward to a more rewarding 2022. I am certain we will succeed and look forward to better times.

Sincerely,
Erik Blum,
President
SMC Entertainment Inc.

About SMC Entertainment, Inc.

SMC's multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
Chief Executive Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/15/2021

SMC Entertainment Expands Its Management Team with the Addition of a New President

Point Roberts, WA – November 15, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is pleased to announce the appointment of Mr. Erik Blum to the position of SMC’s president. Mr. Ron Hughes will remain as SMC’s chief executive officer, director, and Chairman of the Board. Mr. Blum’s appointment is effective immediately.

 

Mr. Blum’s immediate tasks will include but not be limited to the successful and timely closing of SMC’s recently announced acquisition of Genesis Financial Inc.; working with institutional investors to raise capital; spearhead SMC’s up listing process to a senior tier which entails the completion of 2-year audited financial statements and regulatory filings to be a fully reporting issuer; and future company name and symbol change to reflect SMC’s new direction and business plan.

 

Mr. Blum has been involved with capital markets since the early 1980s and has extensive expertise in corporate finance and equity/debt structure. He was a registered principal compliance officer for almost 27 years on Wall Street and has worked at several investment banks and hedge funds in several capacities. After his time on Wall Street, he founded his corporate consulting firm, which focuses on providing capital structuring and business development services to small publicly listed companies. He has helped several of his clients to expand their operations and he was instrumental in enabling their turnarounds and growth. He has held many management positions including CEO, CFO, and member of several board of directors. With three decades of experience in debt, corporate finance and company management, Mr. Blum has a unique perspective on the equity markets specifically focused on successfully growing small companies.

 

“I am thrilled to join the executive team at SMC,” stated Mr. Erik Blum, SMC’s new president. “This is an important milestone for SMC and for Genesis Financial. I look forward to helping the two teams through the closing, integration of corporate cultures and facilitation of a senior tier uplifting. The combined team of SMC and Genesis has a tremendous amount of experience and depth and I look forward to working with them to achieve our goals.”

 

“From our initial contact, I was impressed with Erik’s diversified experience in the capital markets, his clear understanding of corporate finance and his proactive personality,” stated Mr. Ron Hughes, SMC’s chief executive officer. “I’m confident Erik is the right executive to lead the integration of SMC and Genesis business/management team. This is an exciting opportunity for our valued current and future shareholders.”

 

About SMC Entertainment, Inc.

SMC’s multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

 

 

Press Release Contact:

Ronald E Hughes

Chief Executive Officer

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

 

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.”

News Release  11/10/2021

SMC Signs a Letter of Intent to Acquire 100% Equity Interest in Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider

POINT ROBERTS, WA / ACCESSWIRE / November 10, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) today announced that it has entered into a letter of intent ("LOI") to acquire 100% equity interest in Genesis Financial, Inc. ("Genesis"), a diversified financial services company with a focus on fintech-powered Wealth Management advisory services. The acquisition is valued at $45 million.

Genesis operates its business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. For the 9 months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT of approximately $1,035,600 (AUD$1,403,919). All figures are unaudited.

Pursuant to the terms of the LOI, SMC will acquire 100% of the issued and outstanding securities of Genesis for stock. Genesis shareholders will receive SMC's preferred stock convertible to common. Subsequent to acceptance and closing of this transaction, management will strategize an additional capitalization plan minimally of $15 million for immediate implementation. The new capital will be allocated for further expansion, acquisitions and working capital. Management will also explore the ability to seek a more senior public listing exchange along with a reflective name change into 2022.

The Australian Wealth Management industry has over 25,000 financial advisors managing 2.2 million investors. The annual fees generated by the Wealth Management industry is close to $3.9 billion. According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors. Genesis has firmly positioned itself to acquire and consolidate to expand in Australia's fragmented Independent Dealer Group business sector.

Warwick Kerridge, Genesis' Chairman said, "this transaction presents an ideal opportunity for Genesis to work with SMC to accelerate our growth strategy and position ourselves in the sector both in the United States and Australia to maximize shareholder value and build a platform that will ultimately allow us to become a significant player in the advisory and wealth management sector. Genesis has identified a number of synergetic acquisitions and growth opportunities in the United States and we are very confident that the acquisition of dealer advisor groups in the United States will integrate seamlessly with our existing and growing platform in Australia. It is critical to us that we have a revenue footprint in both countries so that the market and all stakeholders can easily see and understand the value proposition."

"We look forward to closing this transaction with Genesis in a timely fashion," said Ron Hughes, President and CEO of SMC. "The acquisition will allow us to advance our own growth strategy and enhance shareholder value. Our distinct competencies in understanding and implementing strategies for growth in the fintech and advisory sectors will give SMC a strong competitive advantage to expand Genesis' growth strategy in the United States, Australia and other Asia Pacific Regions."

About Genesis Financial, Inc.

Genesis is a diversified financial services company focusing on fintech-powered Wealth Management business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. Those subsidiaries are Ballast Accounting and The Financial Link Group. For more information, visit us at www.ballast.com.au and www.tflg.com.au

About SMC Entertainment, Inc.

SMC's multi-discipline revenue approach provides a building block to enhance both revenue and balance sheet growth thru acquisitions. For more information, visit www.smceinc.com.

Press Release Contact:
Ronald E Hughes
President & CEO
}SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  10/14/2021

SMC Entertainment Retains Iron Clad Partners LLC to Provide Strategic Planning Services and Assist in Identifying Potential Partnership and Acquisition Candidates 

Point Roberts, WA – October 14, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is pleased to announce it has executed a consulting agreement (“Agreement”) with Iron Clad Partners LLC (“Iron Clad”) to provide short-term and long- term strategic planning. Pursuant to the Agreement, effective 10/1/2021, Iron Clad has been retained for an initial term of twelve months and will be compensated $15,000 per month. 

During the term of the Agreement, Iron Clad will assist SMC in identifying potential mergers and acquisitions candidates, potential partnerships, provide short-term and long-term strategic planning in the areas of current and future market trends, corporate organization and financial matters. 

"We are very pleased to engage Iron Clad to help us write our next chapter," said Ron Hughes, president and CEO of SMC. “Iron Clad has a diversified portfolio of customers and partners that will expedite the timely deliverance of the agreed upon services.” 

About SMC Entertainment, Inc. 

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com

Press Release Contact:
Ron Hughes
President & CEO
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com

Twitter

 

Safe Harbor Statement 

This press release contains statements, which may constitute forward- looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward- looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  10/12/2021

SMC Entertainment Announces 

Management and Board of Directors Changes

Point Roberts, WA – October 12, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) is thankful to announce the promotion of Mr. Ron Hughes to Chief Executive Officer, sole Director and Chairman of the Board. Mr. Hughes will retain his current title of SMC’s President as well. The promotion was effective on October 1, 2021. Since joining SMC  in May 2020 as VP of Communication, then promoted to President in  June 2021, Ron has been instrumental in keeping the Company current with its finances, filings, negotiated disposition of non-core assets, introduction of operational excellence and conditioning the Company for new partnerships, mergers & acquisition transactions.

 

Mr. Hughes has over 30 years of experience in business development and investment markets. In 1997, Ron joined Global Securities as a Licensed Investment Advisor providing investment analysis, equity trading and capital structure strategy to corporate finance. In 2001, Ron began his executive roles, first as President of TransAmerican Energy Inc., and currently serves on the boards of three publicly traded companies in the United States and Canada. Ron has been a partner with North Arm Capital Services, providing Investor Relations and Business Development services to domestic and international clients for nearly three decades. Ron  studied International Marketing and Management at University of Hawaii (1988), and Resource Economics at the University of Alberta (1987).

 

SMC also declares the resignation of Mr. Rick Bjorklund from all positions, Chief Executive Officer, sole Director and Chairman of the Board. Mr. Bjorklund resignation was effective September 30, 2021. Mr. Hughes stated: "for the past 18 months, working with Rick has been educational. I  sincerely, wish him well.”

 

SMC has now entered discussion with the former members of Spectrum Entertainment LLC (“Spectrum”) to rescind SMC’s acquisition of Spectrum. As part of the rescission agreement, SMC is seeking  repayment of funds made to Spectrum’s lenders by SMC, the return and cancellation of 40,000,000 common shares issued to Spectrum members as consideration in both cash and equity of the purchase price, along with additional legal and accounting fees that SMC incurred as part of the acquisition. SMC’s acquisition of Spectrum was initiated, lead and concluded by SMC’s previous Chief Executive Officer.

 

“With my new role and responsibilities, I'm committed to finding and bringing exciting projects for SMC to acquire,” stated Mr. Hughes, SMC’s new President and CEO. “Our share capital structure is extremely attractive and conducive to mergers and acquisitions transactions. We’ll be very diligent in pursuing the right project(s) for us.”

 

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is currently a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

 

 

Press Release Contact:

 

Ron Hughes,

President & CEO

SMC Entertainment, Inc.

ron.hughes.operations@gmail.com

 

Twitter

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  08/18/2021

SMC Entertainment 

Receives Third Cash Payment for Sale of Asset

Total Cash Received to-date $102,000

Bessemer, Michigan – August 18, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its 100% wholly owned subsidiary Spectrum Entertainment LLC (“Spectrum”), providers of venue-based family-oriented entertainment, are pleased to announce the receipt of a third cash payment of $20,000 from the sale of its wireless assets comprising of iPTerra Technologies Inc., iPMine software intellectual property, and AktivTrak software intellectual property (collectively the “Wireless Assets”).

 

On March 30, 2021, SMC announced it sold its Wireless Assets to privately-held Wyoming-based Aktiv-Trak Inc. for $600,000 in cash and stock. Upon execution of the purchase agreement, SMC received first cash payment of $27,000. On June 14, 2021, SMC announced it received second cash payment of $55,000. With today’s announcement of a third cash payment of $20,000, total cash amount received to-date is $102,000.

 

SMC will be releasing its second quarter 2021 financial result in the next few days which marks the first full quarter after the closing of 100% acquisition of Spectrum. As a follow up to second quarter results, SMC is planning to provide operational and shareholder updates.

 

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

 

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com and our twitter page https://twitter.com/SMCE92539883 

 

 

Press Release Contact:

Ron Hughes, President

SMC Entertainment, Inc.

Ron.Hughes.operations@gmail.com

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  08/11/2021

SMC Entertainment Acquires Additional Assets Resulting in

Revenue and Tangible Asset Increase

Bessemer, Michigan – August 11, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its 100% wholly owned subsidiary Spectrum Entertainment LLC (“Spectrum”), providers of venue-based family-oriented entertainment, are pleased to announce the acquisition of an additional premium ride. The equipment has already been delivered and is in operation; generating revenues in this current season and will be reflected in our third quarter, 2021 financial statements. Supplementally, the equipment will augment SMC’s tangible asset line thus further improving SMC’s balance sheet.

The equipment featured here is known as the Super Round Up, an amusement ride consisting of a circular horizontal platform with a vertical cage-like wall around the edge. The platform is attached to a motor on a hydraulic arm. The ride starts out by spinning until the centripetal force is enough to push 60 riders against the wall. This purchase was through a distress sale, whereby an asset worth a quarter of a million dollars was acquired for less than $90,000 US dollars.

 

“As mentioned before, our main goals for 2021 are to continue making tangible asset acquisitions, beefing up our balance sheet,” said Ron Hughes, President of SMC. “We’re aiming to increase SMC’s net tangible assets over the $2,000,000 threshold to qualify and attain Penny Stock Exempt status designation.”

 

 

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

 

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

 

Press Release Contact:

Ron Hughes, President

SMC Entertainment, Inc.

Ron.Hughes.operations@gmail.com

 

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Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  08/04/2021

SMC Entertainment Inc. Reduces Institutional Debt

Year-to-Date Debt Retired is Approximately $641,000

Bessemer, Michigan – August 4, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its 100% wholly owned subsidiary Spectrum Entertainment LLC (“Spectrum”), providers of venue-based family-oriented entertainment, are pleased to announce the payment in full of a $41,000 promissory note held by Missouri-based speciality institutional lender OA Finance LLC. The payment was made pursuant to the promissory note terms and conditions.

 

Since the 100% acquisition of Spectrum, SMC has been focusing on improving its balance sheet by retiring debt and increasing assets. To that end, on 5/24/2021, SMC announced debt retirement of $600,000 in convertible notes. With today’s debt payment announcement, total 2021 year-to-date debt retired is approximately $641,000. The Spectrum acquisition will add approximately $1,500,000 in net tangible assets to SMC’s balance sheet; based on Spectrum’s 2020 unaudited fiscal year-end financials.

 

“SMC Entertainment Inc. continues to enhance its balance sheet as it explores future acquisitions, partnerships, specifically integrated investments,” said Ron Hughes President of SMC. “Moreover, we anticipate an improvement in SMC’s revenues from the newly added venues that weren’t available to Spectrum prior to the start of the pandemic.”

 

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

 

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

 

Press Release Contact:

Ron Hughes, President

SMC Entertainment, Inc.

Ron.Hughes.operations@gmail.com

 

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Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  06/14/2021

SMC Entertainment Receives Second Cash Payment from the Sale of Its Wireless Assets and Announces Management Promotion

BESSEMER, MI / ACCESSWIRE / June 14, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a provider of venue-based family-oriented entertainment, is pleased to announce that it has received a second cash payment from the sale of its wireless assets comprising of iPTerra Technologies Inc., iPMine software intellectual property, and AktivTrak software intellectual property (collectively the "Wireless Assets").

On March 30, 2021, SMC announced it sold its last Wireless Assets for $600,000 in cash and stock. Upon execution of the purchase agreement with Wyoming-based and privately-held Aktiv-Trak Inc., SMC received first cash payment of $27,000. SMC is pleased to announce that it has received second cash payment of $55,000 which brings the total of cash payments received to date to $82,000.

On March 23, 2021, SMC announced the closing of 100% acquisition of Michigan-based Spectrum Entertainment, LLC("Spectrum"). This acquisition significantly strengthens SMC's revenue and balance sheet. The acquisition will be reflected in SMC's second quarter 2021 financial statements. Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited.

SMC is pleased to announce the promotion of Mr. Ron Hughes from Chief Operating Officer to SMC's President to focus on Company operations and investments. Mr. Rick Bjorklund will retain the titles Chief Executive Officer and Chairman of the Board and his focus will center around acquisitions and strategic partnerships.

"For the past 12 months, I have very much enjoyed being part of the SMC family," said Ron Hughes, President of SMC. 'I've witnessed the swift transformation of SMC to its current business focus first hand. With my new role and responsibilities, I'm committed to bringing operational excellence to SMC's current and future subsidiaries, and additional investments to expand our growth. I look forward to my new responsibilities."

"Ron joined us in May 2020 as VP of Communication. His promotions reflect SMC's commitment to cultivating best of breed management talent," said Rick Bjorklund, CEO and Chairman of the Board of SMC. "We continue our quest to building a high performing management team that will deliver exceptional results to our valued shareholders."

Ron has over 30 years of experience in business development and investments market. In 1997, Ron joined Global Securities as a Licensed Investment Advisor providing investment analysis, equity trading and capital structure to corporate finance. In 2001, Ron became president of TransAmerican Energy Inc., and currently serves on the boards of three publicly traded companies in the United States and Canada. Ron has been a partner with North Arm Capital Services, providing Investor Relations and Business Development services to domestic and international clients for nearly three decades. Ron completed studies in International Marketing and Management from University of Hawaii (1988), and Resource Economics from the University of Alberta (1987).

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Release Contact:

Ron Hughes
President
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

SOURCE: SMC Entertainment, Inc.

SMC Entertainment, Inc.

News Release  05/24/2021

SMC Entertainment Retires $600,000 In Debt

Bessemer, Michigan – May 24, 2021 - SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of venue-based family-oriented entertainment, is pleased to announce the retirement of $600,000 long-term debt in the form of a convertible note. The debt retirement will be reflected in the Company’s second quarter 2021 financial statements.

 

In February 2018, SMC issued a convertible note (the “Note”) as part of SMC’s acquisition of iPTerra Technologies, Inc. (“iPTerra”) and the iPMine software intellectual property (“iPMine”).

 

On March 30, 2021, SMC announced it executed a stock and intellectual property purchase agreement with Wyoming-based privately-held Aktiv-Trak Inc. whereby SMC sold iPTerra, iPMine and SMC’s AktivTrak software intellectual property to Aktiv-Trak Inc. for cash and stock. As a result of SMC’s divesture, SMC was able to negotiate a substantial reduction in the principal amount of the Note with the Note holder.

 

On March 23, 2021, SMC announced the closing of 100% acquisition of Michigan-based Spectrum Entertainment, LLC (“Spectrum”). This acquisition significantly strengthens SMC’s revenue and balance sheet. The acquisition will be reflected in SMC’s second quarter 2021 financial statements. Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum’s net tangible assets were $1,569,000. All figures are unaudited.

  

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

 

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

 

Press Release Contact:

Ron Hughes

Chief Operating Officer

SMC Entertainment, Inc.

Ron.Hughes.operations@gmail.com

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  03/30/2021

SMC Entertainment Sells Last Wireless Assets For $600,000 In Cash and Stock

SAN FRANCISCO, CA / ACCESSWIRE / March 30, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a provider of venue-based family-oriented entertainment, is pleased to announce that it has signed a stock and intellectual property purchase agreement ("Agreement") with Wyoming-based privately-held Aktiv-Trak, Inc. ("Aktiv-Trak") to sell SMC's last wireless assets. The Agreement is effective immediately.

Pursuant to the Agreement, SMC has sold, transferred and assigned all rights and ownership to SMC's wholly owned subsidiary iPTerra Technologies, Inc. ("iPTerra"), iPMine software intellectual property ("iPMine-IP"), and AktivTrak software intellectual property (AktivTrak-IP") for $600,000 in cash and Aktiv-Trak common shares ("Shares"). Aktiv-Trak will pay SMC a minimum of $250,000 in cash and the balance in either cash, Shares, or a combination of both. SMC has received first payment of $27,000 from Aktiv-Trak. The balance will be due over a 12-month period unless extended by both SMC and Aktiv-Trak.

As a background: in December 2019, SMC announced that it was entering the hospitality staff safety market by developing a new end-to-end software solution. In early 2020, SMC commenced development of the end-to-end AktivTrak software solution by utilizing SMC's iPMine software platform, which SMC owned thru the acquisition of iPTerra in 2018. The AktivTrak product development has progressed with the release of an Alpha version in fall of 2020. A Beta version is planned for testing in the coming months with at least one pilot project installation at an internationally-recognized hotel site is planned for summer/fall 2021.

With the execution of this Agreement, SMC has divested from all wireless assets and will be focusing on venue-based family-oriented entertainment products and services. SMC believes there's an excellent opportunity to acquire a number of these venues with reasonable valuations. As the economy recovers from the pandemic, SMC believes the family entertainment sector will recover at a fast rate.

To execute SMC's vision, on 3/23/2021, SMC announced the closing of 100% acquisition of Michigan-based Spectrum Entertainment, LLC ("Spectrum"). This acquisition significantly strengthens SMC's revenue and balance sheet and will be reflected in SMC's Q2/2021 financial statements. Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited.

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of venue-based family-oriented entertainment products and services. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Release Contact:
Ron Hughes, COO
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  03/25/2021

SMC Entertainment Divests Its Second Non-Core Wireless Assets

SAN FRANCISCO, CA / ACCESSWIRE / March 25, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC Pink:SMCE), a provider of products and services for the entertainment industry, is pleased to announce that it has executed an agreement to divest its WiMundo H.S.I.A. Solutions subsidiary ("WiMundo"). The agreement is effective immediately.

Pursuant to the agreement, SMC will return all assets related to the WiMundo acquisition, including but not limited to WiMundo stock, intellectual properties, marketing material, and website development to WiMundo's original stakeholders ("WiMundo Stakeholders"). In return, WiMundo Stakeholders have agreed to forego the issuance of 20,000,000 shares of SMC's common stock. As an inducement to facilitating the divesture agreement and the expeditious manner, the transaction was concluded, SMC will issue 3,000,000 new restricted shares of SMC's common stock to WiMundo consultants. The restricted common shares will be issued in accordance with Rule 144 of the Securities and Exchange Commission. SMC will retain full ownership of Aktiv-Trak intellectual property, marketing material, and all product development.

On 3/23/2021, SMC announced the closing of 100% acquisition of Michigan-based Spectrum Entertainment, LLC("Spectrum"). This acquisition significantly strengthens SMC's revenue and balance sheet and will be reflected in SMC's Q2/2021 financial statements.

Spectrum specializes in fairground rides, games, food, and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited.

Rick Bjorklund, President, and CEO of SMC, stated, "I would like to thank WiMundo management and stakeholders; we are confident that WiMundo will continue to seek ways to expand it business. SMC continues to look for acquisition opportunities in fragmented markets with reasonable valuations. Such opportunities will demand from us to recalibrate our business plan and transition our focus to our core businesses. The acquisition opportunities that we will be evaluating must have existing revenues and/or tangible assets to strengthen our balance sheet."

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fairground rides, games, food, and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of products and services for the entertainment industry. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Contact:
Ron Hughes, COO
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  03/23/2021

SMC Entertainment Completes Acquisition of Spectrum Entertainment LLC

SAN FRANCISCO, CA / ACCESSWIRE / March 23, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has completed the 100% acquisition of Michigan-based Spectrum Entertainment, LLC ("Spectrum") for equity. This acquisition significantly strengthens SMC's revenue and balance sheet and will be reflected in SMC's Q2/2021 financial statements.

Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited.

With the 2021 season opening in a few weeks, SMC and Spectrum have already finalized new events and markets that would potentially increase revenues by up to 40%. SMC intends to invest additional capital to expand Spectrum's market share and add new games and rides.

SMC will use the Spectrum acquisition as a launching pad for additional acquisitions in the family entertainment and event-based fragmented market, and consolidate them under the SMC brand. At a minimum, such acquisition opportunities should have reasonable valuation, well-established markets, proven revenues, and require minimal operating capital.

Pursuant to the acquisition agreement: (a) SMC will issue 40,000,000 restricted common shares to Spectrum's stakeholders, (b) SMC is extending management agreements to Spectrum's management team to continue operating Spectrum's day-to-day business, and (c) SMC is assuming institutional and personal short and long term debt. All shares will be issued in accordance with Rule 144 of the Securities and Exchange Commission and will be issued from SMC's treasury.

About Spectrum Entertainment LLC

Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of products and services for the entertainment industry, digital communications and media content marketplaces. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Contact:

Ron Hughes, COO
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  03/08/2021

SMC Entertainment Divests Certain Non-Core Wireless Assets and Returns Shares to Treasury

SAN FRANCISCO, CA / ACCESSWIRE / March 8, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has executed a divesture agreement ("Agreement") to divest its FiberSKY Networks, Inc. subsidiary ("FiberSKY"). Pursuant to the Agreement, SMC will return all assets relating to the FiberSKY acquisition including but not limited to FiberSKY stock, intellectual properties, marketing material, and website development to FiberSKY's original stakeholders ("FiberSKY Stakeholders"). In return, FiberSKY Stakeholders will return 20,000,000 shares of SMC's common stock to SMC's treasury for cancellation. As an inducement to facilitating the execution of the Agreement, SMC will issue 2,000,000 new restricted shares of SMC's common stock to FiberSKY Stakeholders. The restricted common shares will be issued in accordance with Rule 144 of the Securities and Exchange Commission.

Rick Bjorklund, President and CEO of SMC stated, "I would like to thank FiberSKY management and stakeholders for facilitating this transaction. We are confident that FiberSKY will continue to seek ways to expand its business independent of SMC." Mr. Bjorklund continued to state, "we continue to look for acquisition opportunities in fragmented markets with reasonable valuations. Such opportunities will demand from us to recalibrate our business plan and transition our focus. The acquisition opportunities that we will be evaluating must have existing revenues and/or tangible assets to strengthen our balance sheet."

On February 24, 2021, SMC announced the signing of a definitive purchase agreement to acquire Spectrum Entertainment LLC.

About SMC Entertainment, Inc.

SMC Entertainment, Inc. is a provider of products and services for the entertainment industry, digital communications and media content marketplaces. Our multi-discipline revenue approach provides a building block to enhance revenue growth thru acquisitions. For more information, visit www.smceinc.com.

Press Contact:

Ron Hughes
Chief Operating Officer
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  02/03/2021

SMC Entertainment Returns to Current Status with OTC Markets & Provides Shareholder Update

SAN FRANCISCO, CA / ACCESSWIRE / February 3, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), a provider of wireless communications products and services, digital content and media distribution solutions, is pleased to report that it is current with its corporate and financial filings with OTC Markets Group Inc. and has returned to Current Status. The Company's next filing is due on or before March 31, 2021 for fiscal year-end 2020 which also is the Company's 4th Quarter.

 

To update, SMC continues executing on its business plan to explore acquisition targets that are in-line with the Company's strategy and vision.

SMC also announces here the promotion of Mr. Ron Hughes to Chief Operating Officer. Mr. Hughes joined SMC's team in May 2020 as Vice President of Communication. In his new role, Mr. Hughes will oversee and manage SMC's day-to-day operations including but not limited to identifying acquisition targets, revenue growth, integration of SMC's subsidiaries to be more aligned with a shared focus and vision, capital markets, investment opportunities, corporate and marketing dissemination along with shareholder communications.

 

With over 25 years of business development experience, Mr. Hughes was introduced to the investments market in 1992. In 1996, Mr. Hughes joined Global Securities as a Licensed Investment Advisor providing investment analysis, equity & debt trading and capital structure to corporate finance. In 2001, Mr. Hughes became president of former TransAmerican Energy Inc., now American Biofuels Inc. and currently serves on the boards of three publicly traded companies both in the United States and Canada. Mr. Hughes completed studies in International Marketing and Management from University of Hawaii (1988), and Resource Economics from the University of Alberta (1987).

 

About SMC Entertainment, Inc.
SMC Entertainment, Inc. is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes providing media and wireless internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet Service Providers). For more information, visit www.smceinc.com.

 

Press Contact:
 

Ron Hughes
Chief Operating Officer
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

 

 

Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  05/13/2020

SMC Entertainment Provides Shareholder Update

San Francisco, CA – May 13, 2020 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications products and services, digital content and media distribution solutions, is pleased to provide the following update to its shareholders.

 

Corporate Name and Trading Symbol Change

As we communicated with our shareholders in an earlier press releases, (November 26, 2019), SMC filed a corporate action with the Financial Industry Regulatory Authority, Inc. (“FINRA”) for a corporate name and trading symbol change. As part of the process, SMC worked diligently with its securities attorneys to provide historical documentation dating back to Company inception in the state of Texas in 1995, a major undertaking. In addition to historical documentation, FINRA requested additional filings as follows:

 

  • Background: On October 6, 2006, the management team of Zoolink Corp. (SMC’s former name from approximately 2002 - 2006) filed Form 15-12G with the Securities and Exchange Commission (“SEC”) to become a non-reporting company with the SEC and report under OTC Markets Group’s Alternative Reporting Standard. At the time Zoolink filed Form 15-12G in 2006, Zoolink’s last filing with the SEC was for the quarter ending on 3/31/2004.

 

From 2006 till currently, SMC has been filing its financials and annual disclosure statements with OTC Markets under the Alternative Reporting Standard guidelines.

 

  • FINRA’s Additional Request and Decision: In a letter dated April 29, 2020 to SMC, FINRA requested the Company to file with the SEC the 10-Ks and 10-Qs for the nine (9) periods from 6/30/2004 to 6/30/2006 prior to approving SMC’s corporate action. Failing to do that, FINRA has deemed SMC’s corporate action submission to be deficient under FINRA Rule 6490. FINRA provided SMC the option to appeal its ruling by May 6, 2020.

 

  • SMC’s Decision: SMC does not have the historical financial information to successfully complete FINRA’s requested filings. This would be a costly undertaking and a financial burden to produce two years of historical audited financial statements. We are of the opinion the benefit doesn’t justify the expense and therefore SMC has decided to accept FINRA’s decision. In addition, SMC has decided not to appeal FINRA’s decision since the likelihood of changing the outcome is extremely low.

 

  • Moving Forward Plan: We would’ve liked to roll out our expanded business plan under the FiberSky brand; however, it is not crucial from an operational standpoint. SMC will continue to operate under current corporate name and trading symbol. We are exploring other avenues to utilize the FiberSky brand. Acquisitions and revenue growth will continue to be our focus.

 

 

 

OTC Markets Filings

SMC is in the process of submitting all required filings including financial and disclosure statements, attorney opinion letter to become current with its filings.

 

Appointment of Mr. Ron Hughes; VP of Communication

SMC is pleased to announce the appointment of Mr. Ron Hughes as the Company’s Vice President of Communication. In his role, Mr. Hughes will manage communications relating to capital markets, corporate and marketing dissemination, shareholder inquiries, as well as investor and media relations.

 

With over 25 years of business development experience, Mr. Ron Hughes was introduced to the investments market in 1992. In 1997, Mr. Hughes joined Global Securities as a Licensed Investment Advisor providing investment analysis, equity trading and capital structure to corporate finance. In 2001, Mr. Hughes became president of TransAmerican Energy Inc., and currently serves on the boards of three publicly traded companies in the United States and Canada. Mr. Hughes has been a partner with North Arm Capital Services, providing Investor Relations and Business Development services to domestic and international clients for nearly three decades. Mr. Hughes completed studies in International Marketing and Management from University of Hawaii (1988), and Resource Economics from the University of Alberta (1987).

 

Share Capital Structure

The Company has received a number of inquiries with respect to its share capital structure. The Company is pleased to confirm there have been no changes to its share capital structure since last reported in 2019. There seems to be confusion on the definitions of non-restricted and public float common shares. The Company’s Transfer Agent has confirmed non-restricted common shares are the same as public float common shares, which is calculated as outstanding common shares less restricted common share. In light of the above confirmation, the Company updated its share capital structure profile on OTC Markets website. The Company encourages its shareholders to directly contact its Transfer Agent and request a current share capital structure.

 

As of today’s date, SMC’s total outstanding common shares are 346,626,974. The breakdown of outstanding common shares is as follows: total restricted common shares are 223,339,506; and total non-restricted/public float common shares are 123,287,468. Out of non-restricted/public float common shares, Cede & Co (DTC) holds 64,329,070 common shares. It’s the Company’s understanding that DTC’s position of 64,329,070 common shares reflects available shares that can be traded by the public.

 

About SMC Entertainment, Inc.

SMC Entertainment Inc. (www.smcemedia.com) is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes providing media and wireless internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet Service Providers). SMC operates two wholly owned subsidiaries.

 

Acquired in August 2019, FiberSKY Networks, Inc. focuses on the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKY™. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the "last mile" of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telecom-owned broadband back haul networks to produce an efficient and scalable broadband connection. For more information, visit www.fiberskynetworks.com.

 

Acquired in December 2019, WiMundo H.S.I.A Solutions provides end-to-end solutions for the hospitality industry including hotels, multi-dwelling properties as well as RV parks and campgrounds. These solutions are comprised of customized software, industry-leading hardware, installation services coupled with guest and technical support. For more information, visit www.WiMundo.com and www.Aktiv-Trak.com.

 

 

Press Release Contact: 

 

Ron Hughes, VP Communications 

 

ron@smcemedia.com

 

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/26/2019

SMC Entertainment Provides Shareholder Update and Plans for Continued Growth

SAN FRANCISCO, Nov. 26, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications services, digital content and media distribution solutions, released the following shareholder update from SMC’s Chairman and CEO Rick Bjorklund as part of his commitment to continually communicate with shareholders.

Dear Valued Current and Future Shareholders:

SMC’s management team has been working on a number of initiatives to diversify our Company’s business strategies. Unlocking shareholder value remains the cornerstone of our management team goal.

 

Future Acquisitions. We continue to look for and evaluate complementary acquisitions that fit within our frame of business strategies and growth opportunities. The recently completed acquisition of FiberSKY Networks, Inc. is a prime example of what we see as our growth and diversification strategies.

Additional Management Team Members. The current SMC management team will be the main driver for our anticipated growth. As we acquire additional companies, there could be management team expansion and additional officers and Board members.

 

Update on Corporate Name and Trading Symbol Change. Per earlier communication, it’s our intention to rebrand SMC from its current name to FIBERSKY CORP., and change our trading symbol. Our securities attorney has responded to the majority of FINRA’s comments and clarification requests. One item remains to be addressed that deals with a historical filing that predates current management’s knowledge. We expect our securities attorney to address this and other items that might arise in the course of FINRA’s review very soon.

 

Share Capital Structure. According to SMC’s Stock Transfer Agent’s records and as at 11/25/2019, our total outstanding common shares are 346,626,974; total restricted common shares are 223,339,506; total non-restricted common shares are 123,287,468; total Cede & Co (DTC) common shares are 64,329,070; and public float common shares are 75,769,070.

 

As we come to the closing of 2019, we are proud of the initiatives and decisions we made to build a stronger foundation for our anticipated growth in 2020 and beyond. Our management team and group of companies thrive on the energy of our mission and goals.

 

Best Regards,
Rick Bjorklund
Chairman and CEO

 

About SMC Entertainment, Inc.

SMC Entertainment Inc. is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes providing media and wireless internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet Service Providers). With our recent acquisition of FiberSKY Networks, Inc., FiberSKY’s primarily design concept involves the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKY™. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the “last mile” of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telecom-owned broadband back haul networks to produce an efficient and scalable broadband connection. For more information, please visit us at www.smcemedia.com, and www.fiberskynetworks.com.

 

Contact:
SMC Entertainment, Inc.
info@smcesolutions.com

 

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/25/2019

SMC Entertainment Announces Fourth U.S. Patent Filing Covering Digital Packets Transmission Using Peer-to-Peer Distribution

San Francisco, CA – November 25, 2019 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications services, digital content and media distribution solutions, is pleased to announce that White Hat Vision, LLC (“White Hat”), soon to be acquired by SMC, filed its fourth patent application with the United States Patent and Trademark Office (“USPTO”).

The fourth patent, USPTO application number USSN 16/589,865, covers system and method for securely retrieving and transmitting digital packets using peer-to-peer distribution. This patent, capstone for the distribution system, focuses on users sharing content while still protecting against piracy by providing the system with customer information to further enhance user experience. White Hat has requested fast tracking application approval process.

On November 4, 2019, SMC announced it executed a Letter of Intent to acquire 100% of White Hat and its first patents licensee, Texas-based Song1, LLC (“Song1”). White Hat owns three patents that address protection against digital cyber theft across any application used to transfer data packets. The three patents, referred to as the Marshall Digital Security (“MDS”), once embedded securely in any digital transporting environment, functions transparently and strategically removes portions of a digital content packet (referred to as Fragments) rendering it to a stealth-like transmission and thereby making the rest of the packet content (referred to as Segments) useless in case of unauthorized access. Once a packet reaches its destination, the Fragments and Segments are merged together to deliver the digital content as intended to. MDS patents can be embedded in solution offerings to any deemed sensitive environment including government, healthcare, banking, research, 3D printing, media, and gaming. The need for protection against worldwide cyber extraction renders itself to the MDS stealth technology. In addition to licensing its patents, White Hat intends to vigorously pursue infringements on any of its patents. The full texts of the three patents are available on USPTO’s website www.uspto.gov, patent numbers 8,719,946; 9,576,114; and 10,078,737.

Rick Bjorklund, SMC’s Chairman and CEO, commented: “Further to our press releases dated November 4th and 6th, 2019 highlighting our goals, efforts and commitments to grow our company organically and thru acquisitions, we are on the right track to deliver on our vision for the benefits of SMC shareholders. Upon approval of the fourth patent, our go-to-market strategy and intellectual property portfolio would be significantly enhanced. As at 11/22/2019, our total issued and outstanding common shares are 347,000,000 representing 222,000,000 restricted shares and 125,000,000 unrestricted shares (all figures are approximate). The public float is around 75,000,000 shares.”

About White Hat Vision LLC

White Hat Vision, LLC is a developer, marketer and licensor of technology solutions built around three patents, referred to as the Marshall Digital Security (“MDS”), that address digital content piracy and cyber theft. MDS targets a number of industries including but not limited to Internet and mobile transmission content, including government, healthcare, banking, research, SCATA, energy, media, and gaming. 

 

The MDS patents were developed by Mr. Marvin Marshall (https://www.linkedin.com/in/marshallmarvin)and his team of intellectual marvels. Prior to inventing the MDS patents, Mr. Marshall invented the PrePaid Phone Card technology (which he was awarded three U.S. patents). Prior to inventing the PrePaid Phone technology, Mr. Marshall invented a new mathematical method specifically for precisely balancing Dairy Ration Formulations. Also, he created a companion Dairy Management software program. This invention was highly successful and Mr. Marshall gained over 4,000 clients in the U.S., Mexico and South Africa. Available nationally documented articles featuring Mr. Marshall’s inventions and technologies are Time Magazine – 1978, Tampa Tribune – 1990, TeleCard World – 1998 and the Wall Street Journal (Breakout Section) December 7, 1998.

  

About Song1, LLC

Song1, LLC is a developer, marketer and provider of recorded music streaming services that has licensed MDS’s patents. Song1 has embedded MDS’s patents in its product offerings to create more secure, faster and better commercial streaming experience. Song1 offers its services on a monthly subscription basis. Song1 plans to expand its secure streaming services by building complementary products and/or license the core technologies to other streaming service providers. For more information, please visit us at (www.song1.com).

About SMC Entertainment, Inc.

SMC Entertainment Inc. is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes 

internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet

providing media and wireless Service Providers). With our recent acquisition of FiberSKY Networks, Inc.,

FiberSKY’s primarily design concept involves the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKYTM. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the “last mile” of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telecom-owned broadband back haul networks to produce an efficient and scalable broadband connection. 

 

For more information, please visit us at www.smcesolutions.com, and www.fiberskynetworks.com.

Contact:
SMC Entertainment, Inc. info@smcesolutions.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward- looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

News Release  11/6/2019

SMC Entertainment Provides Shareholder Update

San Francisco, CA – November 6, 2019 – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications services, digital content and media distribution solutions, is pleased to provide the following performance update to its shareholders.

Acquisition closing of White Hat Vision LLC and Song1 LLC. As stated in the Company’s press release dated 11/4/2019, we executed a Letter of Intent to acquire White Hat Vision LLC and Song1 LLC. The closing process involves the creation and execution of multiple agreements including but not limited to membership unit purchase agreements, patent assignment and intellectual property transfer agreements. We expect multiple attorneys to be involved representing the sellers and the Company. These activities will take time, however, our intention is to close the transaction expeditiously without compromising the due diligence process.

Refocused and expanded business strategies. From the outset, we maintained we will grow SMC thru acquisitions. With our recent acquisition completion of FiberSKY Networks, Inc. followed up with the execution of Letter of Intent to acquire White Hat Vision and Song1, these additions will broaden SMC’s business plan in wireless mobility and digital content related opportunities. Our vision is bring technologies that will enhance our offerings to Wireless Internet Service Providers (“WISPs”) in under- served markets including but not limited to digital content distribution, cyber security and wireless communications. We’re focusing on those technologies that will form the initial building blocks for our ultimate market push with nation-wide WISPs. Moving forward, we continue to look for additional complementary opportunities that will not only vertically integrate our portfolio of technologies, but also increase revenues.

Corporate Funding and investment. We continue to evaluate a number of investment options that will help expedite our business and growth strategies aimed at enhancing shareholder value. We will be selective in choosing the right funding partner.

Corporate Name and Symbol Change. To better reflect our expanded and refocused business strategies and per our earlier announcement, it’s our intention to rebrand the Company name from its current name SMC Entertainment Inc. to FIBERSKY CORP. Our securities attorney submitted a corporate action with FINRA and we have received comments back from FINRA requesting additional clarification and documentation. It has taken us longer than expected to gather the requested documents, some dating back to Company inception which predates current management. We believe our securities attorney has a complete reply package and ready for submission very soon. To facilitate the name branding, the Company has officially changed its name to FIBERSKY CORP. with the state of Nevada, and has a new CUSIP number that will become effective once FINRA approves the name and symbol change corporate action.

Share Capital Structure. As at 11/4/2019, our total issued and outstanding common shares are approximately 347,000,000 representing approximately 222,000,000 restricted shares and approximately 125,000,000 unrestricted shares. The public float is approximately 75,000,000 shares.

"We are focused on increasing SMC’s exposure as we execute on our business plan to develop a diversified multi-discipline company,” stated Rick Bjorklund, Chairman and CEO of SMC. “We look forward to building a stronger organization with more revenue diversification. We appreciate the interest our shareholders have in the company and are working to increase shareholder value as we believe the company share price is undervalued."

About SMC Entertainment, Inc.

SMC Entertainment Inc. is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes providing media and wireless

internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet

FiberSKY’s primarily design concept involves the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKYTM. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the “last mile” of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telecom-owned broadband back haul networks to produce an efficient and scalable broadband connection.

 

For more information, please visit us at www.smcesolutions.com, and www.fiberskynetworks.com.

Contact:
SMC Entertainment, Inc. 

info@smcesolutions.com

Safe Harbor Statement

This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward- looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

Service Providers). With our recent acquisition of FiberSKY Networks, Inc.,

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