SMC Entertainment Inc (SMCE)

[VeronicaFox]

THE SO CALLED DEBT RETIREMENT WAS CONVERTING DEBT "THE OLD CEO SAYS IS OWED TO HIM".

Its "retirement" was converting it to preferred stock which is convertible back to common stock, aka the pea & shell game.

AS OF MARCH 31,2016:
The Company has five long-term notes payable outstanding with face values ranging from $4,186 to $380,000. Interest rates ranged from prime rate plus 1% to 9.39% fixed. The notes payable have maturity dates ranging from July 1, 2014 to November 1, 2017. The outstanding balance was $570,936 at March 31, 2016. Interest expense for these notes was $12,154.

Debtor
Principal Amount
Rate

Tashjian Investments
$380,000

9.39% Per Annum

Under the Radar
$95,840
5% Per Annum

Simon Tashjian
$31,850

5% Per Annum

Robert J. Streck
$31,040
8% Per Annum

Robert F. Streck
$15,520

8% Per Annum

Date Palm Capital
$12,500

Prime Rate Plus 1%

Tashjian Investments
$4,186

Prime Rate Plus 1%

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