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$HMNU .0081 Starting, should be $0.05+
What a shitty close, my God.
Great post, with Nasdaq looming, I believe we will see an epic run.
SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Press Release | 12/13/2021
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 /
SMC Entertainment, Inc. 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
$SMCE .01 SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Press Release | 12/13/2021
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 /
SMC Entertainment, Inc. 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
$SMCE .01 SMC Closes $45 Million Acquisition of Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Press Release | 12/13/2021
POINT ROBERTS, WA / ACCESSWIRE / December 13, 2021 /
SMC Entertainment, Inc. 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
$SMCE is HUGE, NASDAQ BOUND >> The FinancialLink Group Holdings Huge Partnerships (24 in total) >>
Genesis is a globally diversified financial services company with a focus on Fintech Investment, Wealth Management and Lending Platforms. Today we have approximately $1.5 Billion Funds Under Management plus roughly $50M Private Investment Funds.
Here's just a few >>
Mercer $15 Trillion Funds Under Management
IOOF $202 Billion Funds under Management
Morningstar, Inc. $244 Billion Funds Under Management
Legg Mason $780 Billion Funds Under Management
Colonial First State $144 Billion Funds Under Management
MetLife Investment $642 Billion Funds Under Management
Zurich Insurance Group $400 Billion Assets
AIA Group $290 Billion Assets
Pan-Tribal Global Equity Fund $400 Million Funds Under Management
BT (West Pac) $20 Billion Assets
Under the "Join Us Tab" (Partnerships)
https://www.tflg.com.au/
$SMCE is HUGE, NASDAQ BOUND >> The FinancialLink Group Holdings Huge Partnerships (24 in total) >>
Genesis is a globally diversified financial services company with a focus on Fintech Investment, Wealth Management and Lending Platforms. Today we have approximately $1.5 Billion Funds Under Management plus roughly $50M Private Investment Funds.
Here's just a few >>
Mercer $15 Trillion Funds Under Management
IOOF $202 Billion Funds under Management
Morningstar, Inc. $244 Billion Funds Under Management
Legg Mason $780 Billion Funds Under Management
Colonial First State $144 Billion Funds Under Management
MetLife Investment $642 Billion Funds Under Management
Zurich Insurance Group $400 Billion Assets
AIA Group $290 Billion Assets
Pan-Tribal Global Equity Fund $400 Million Funds Under Management
BT (West Pac) $20 Billion Assets
Under the "Join Us Tab" (Partnerships)
https://www.tflg.com.au/
The FinancialLink Group Holdings Huge Partnerships (24 in total) >>
Genesis is a globally diversified financial services company with a focus on Fintech Investment, Wealth Management and Lending Platforms. Today we have approximately $1.5 Billion Funds Under Management plus roughly $50M Private Investment Funds.
Here's just a few >>
Mercer $15 Trillion Funds Under Management
IOOF $202 Billion Funds under Management
Morningstar, Inc. $244 Billion Funds Under Management
Legg Mason $780 Billion Funds Under Management
Colonial First State $144 Billion Funds Under Management
MetLife Investment $642 Billion Funds Under Management
Zurich Insurance Group $400 Billion Assets
AIA Group $290 Billion Assets
Pan-Tribal Global Equity Fund $400 Million Funds Under Management
BT (West Pac) $20 Billion Assets
Under the "Join Us Tab" (Partnerships)
https://www.tflg.com.au/
Imagine being short, especially when 270,000,000 shares get cancelled.
See you all on the Nasdaq!!
2nd Solid News Release Today >> SMC Announces the Engagement of Corporate Law Firm
Anthony L.G., PLLC
SMCE | 42 minutes ago
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
Mark this post, already $1.3m EBITDA, and now expanding into the US ...it's happening.
Cleary it is....read the prs
$SMCE reminds me of $SIRC when it ran from $0.05 to $3.00 on less news than what's happening here..
So we have the board members, the revenues, probably the assets, they've been in business for many years....a huge share cancellation will make $SMCE much more attractive, plus reduced debt and we will be well on our way to the National Exchange. #NASDAQ is coming kids.
All the stars are aligned for an easy Uplist....everything is in order.
https://www.google.com/amp/s/time.com/nextadvisor/investing/nasdaq-listing-requirements/amp/
$SMCE Monster News Out >>
Charles R. Provini Appointed Independent Director & Chairman of SMC
Charles R. Provini as an Independent Chairman. Under #NYSE and #NASDAQ listing standards,
https://t.co/qZkXFjP3Ew
$SMCE .01 Monster News Out >>
Charles R. Provini Appointed Independent Director & Chairman of SMC
Charles R. Provini as an Independent Chairman. Under #NYSE and #NASDAQ listing standards,
https://t.co/qZkXFjP3Ew
$SMCE .01 Monster News Out >>
Charles R. Provini Appointed Independent Director & Chairman of SMC
Charles R. Provini as an Independent Chairman. Under #NYSE and #NASDAQ listing standards,
https://t.co/qZkXFjP3Ew
Who cares, my father owned 5 successful businesses and was a supervisor in a steel mill that generated over a billion dollars quarterly.
Proud to say his grade 6 education paid off....by the way, he couldn't spell if his life depended on it.
$SMCE .0105 +22% 270m shares to be Cancelled
$SMCE .0105 +22% 270m shares to be Cancelled
$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¢
$SMCE is Now a FINTECH Company
Look at the 25-50x REVENUE multiple that VISA used to value FINTECH company Plaid! It actually ended up over twice those multiple valuations!
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$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