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$SMCE .01 About to Fly, $45,000,000 Deal Closed
$SMCE .01 About to Fly, $45,000,000 Deal Closed
$SMCE Another News Release HUGE
SMC Retains Buckman, Buckman & Reid to Provide Investment Banking and Up Listing Advisory Services
https://www.globenewswire.com/news-release/2021/12/14/2351943/0/en/SMC-Retains-Buckman-Buckman-Reid-to-Provide-Investment-Banking-and-Up-Listing-Advisory-Services.html
$SMCE Another News Release HUGE
SMC Retains Buckman, Buckman & Reid to Provide Investment Banking and Up Listing Advisory Services
https://www.globenewswire.com/news-release/2021/12/14/2351943/0/en/SMC-Retains-Buckman-Buckman-Reid-to-Provide-Investment-Banking-and-Up-Listing-Advisory-Services.html
$SMCE Another News Release HUGE
SMC Retains Buckman, Buckman & Reid to Provide Investment Banking and Up Listing Advisory Services
https://www.globenewswire.com/news-release/2021/12/14/2351943/0/en/SMC-Retains-Buckman-Buckman-Reid-to-Provide-Investment-Banking-and-Up-Listing-Advisory-Services.html
$SMCE .0096 More Sweet News Out >> SMC Moves to establish ESOP
Press Release | 12/13/2021
Point Roberts, WA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- 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
$SMCE .0096 More Sweet News Out >> SMC Moves to establish ESOP
Press Release | 12/13/2021
Point Roberts, WA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- 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
$SMCE Key Notes >>
PT $0.10+
ACQUISITION to CLOSE ON/BEFORE DECEMBER 10TH 2021
Employees/Management Share Option Plan
270m Share Cancellation
$600k Debt Retirement
$45m Acquisition
$21m Revenues
$1.2m Net Profit
$15m New Capitalization
$1.5B FUM
$50m PIF
US Expansion
New President/Management/Name
Audit & Uplist
More Sweet News Out >> SMC Moves to establish ESOP
Press Release | 12/13/2021
Point Roberts, WA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- 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
$SMCE .011 huge 20M Warrants Issued at $1.00/Share
$SMCE .011 huge 20M Warrants Issued at $1.00/Share
$1,200,000 Net Profits, trading at a Penny. $6m Cap vs $45m Deal.
$SMCE .011 $45m Acquisition Closed, $1.2m Net Profit on $20m Revenues
$SMCE .011 $45m Acquisition Closed, $1.2m Net Profit on $20m Revenues
MUST READ $0.15+ Price Target vs Current Price $0.012
REVENUE ~$21,000,000* | EBIT ~$1,500,000* (*post acquisition)
Genesis Acquisition is valued at $45,000,000
Market Cap with 692M OS = $7,473,600
Market Cap with 402M OS = $4,341,600 (company seeking to reduce the OS by 290 million restricted shares)
Market Cap @ 2x REVENUE = $42,000,000
$42,000,000 Market Cap with OS 402M = price per share of 10¢
Market Cap @ 3x REVENUE = $63,000,000
$63,000,000 Market Cap with OS 402M = price per share of 15¢
$SMCE is Now a FINTECH Company
Look at the 25-50x REVENUE multiple that VISA used to value FINTECH company Plaid! It actually ended up over twice those multiple valuations!
[Suppressed Image]
$SMCE Strong Buy
Amazingly the investing public has not yet discovered this emerging FINTECH
$SMCE MONSTER NEWS SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Monday, December 13, 2021 7:05 AM
Mergers and AcquisitionsSMC Entertainment, Inc.
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: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
$SMCE MONSTER NEWS SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Monday, December 13, 2021 7:05 AM
Mergers and AcquisitionsSMC Entertainment, Inc.
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: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
$SMCE MONSTER NEWS SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Monday, December 13, 2021 7:05 AM
Mergers and AcquisitionsSMC Entertainment, Inc.
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: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
$6000 volume is unexplainable...I'm stunned ATM.
Break .014 and I think we see .02 fast.
$SMCE .0123 MUST READ >> Acquisition Valued at $45,000,000 + $15,000,000 Financing,$60,000,000 in Total versus a microscopic Market value of only $8,000,000
Pursuant to the Agreement:
the acquisition is valued at $45 million;
SMC will issue convertible Series B Preferred Shares ("Series B Preferred") with a redemption value equal to $45 million;
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;
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;
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;
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
SMC will embark on a capital raise of $15 million for further expansion, acquisitions and working capital.
$SMCE .0123 MUST READ >> Acquisition Valued at $45,000,000 + $15,000,000 Financing,$60,000,000 in Total versus a microscopic Market value of only $8,000,000
Pursuant to the Agreement:
the acquisition is valued at $45 million;
SMC will issue convertible Series B Preferred Shares ("Series B Preferred") with a redemption value equal to $45 million;
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;
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;
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;
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
SMC will embark on a capital raise of $15 million for further expansion, acquisitions and working capital.
Acquisition Valued at $45,000,000 + $15,000,000 Financing,$60,000,000 in Total versus a microscopic Market value of only $8,000,000
Pursuant to the Agreement:
the acquisition is valued at $45 million;
SMC will issue convertible Series B Preferred Shares ("Series B Preferred") with a redemption value equal to $45 million;
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;
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;
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;
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
SMC will embark on a capital raise of $15 million for further expansion, acquisitions and working capital.
$SMCE .0123 Breaking out on Tomorrow's DEFINITIVE AGREEMENT Confirming the $45,000,000 Acquisition is Complete
Today's SOS shows the Preferred shares and addition of WARWICK
Don't wait until tomorrow, if the 270,000,000 share cancellation takes places as well all bets are off
$SMCE .0123 Breaking out on Tomorrow's DEFINITIVE AGREEMENT Confirming the $45,000,000 Acquisition is Complete
Today's SOS shows the Preferred shares and addition of WARWICK
Don't wait until tomorrow, if the 270,000,000 share cancellation takes places as well all bets are off
$SMCE. 0125 +42% Huge $45m Acquisition Closes tomorrow
$SMCE. 0125 +42% Huge $45m Acquisition Closes tomorrow
Good morning $SMCE, time to run...
Huge list of Partners, including Legg Mason and Zurich Insurance Group to name only 2, CLICK JOIN US TO SEE PARTNERS >> https://www.tflg.com.au/
$SMCE .011 will run to $0.10+ Friday
$SMCE .011 will run to $0.10+ Friday
$SMCE .011 Huge Tweet Santa's coming FRIDAY >>
Looking like Friday should be good. Santa is coming soon! https://otcmarkets.com/stock/SMCE/news/SMC-Provides-Update-on-its-Acquisition-Closing-of-Genesis-Financial-Inc?id=334370
https://twitter.com/SMCE92539883
$SMCE .011 Huge Tweet Santa's coming FRIDAY >>
Looking like Friday should be good. Santa is coming soon! https://otcmarkets.com/stock/SMCE/news/SMC-Provides-Update-on-its-Acquisition-Closing-of-Genesis-Financial-Inc?id=334370
https://twitter.com/SMCE92539883
$Smce about to red to BIG green!
$Smce about to red to BIG green!
$SMCE .0109 270,000,000 Shares to be CANCELLED
$SMCE .0109 270,000,000 Shares to be CANCELLED
$SMCE .01 Acquisition brings $1,500,000,000 in FUNDS UNDER MANAGEMENT, and over $50,000,000 PUBLIC INVESTMENT FUNDS
$SMCE .01 Acquisition brings $1,500,000,000 in FUNDS UNDER MANAGEMENT, and over $50,000,000 PUBLIC INVESTMENT FUNDS
$SMCE .012 $45M DEAL is CLOSED, From the Otcmarkets >> 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.
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