Thursday, September 05, 2019 3:48:19 PM
San Francisco, CA – August 20, 2018 – SMC Entertainment, Inc. (OTC: SMCE) ("SMC" or the "Company"), a digital content and distribution provider, is pleased to announce it has executed an Asset and Liability Divesture Agreement (“Agreement”) with the Company’s former Chairman, Mr. Ralph Tashjian, and an entity substantially controlled by Mr. Tashjian to divest from certain music catalog (“Music Catalog”) in exchange of debt retirement.
Under the terms of the Agreement, Mr. Tashjian assumes a $380,000 debt owed by the Company to Mr. Tashjian’s entity, in exchange, the Company assigns the Music Catalog to Mr. Tashjian.
“With the recently announced reduction of outstanding shares of our common stock by 110,000,000 shares, and today’s announcement to divest from legacy assets and debt retirement, demonstrate SMC’s commitment to broaden its business plan to include vertically integrated wireless media in multiple disciplines,” stated Rick Bjorklund, SMC’s President and CEO.
Recent SMCE News
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 06/20/2024 11:47:03 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 11:46:09 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 12:30:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/11/2024 01:30:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/07/2024 11:31:11 AM
- Form 10-12G/A - Registration of securities [Section 12(g)]: [Amend] • Edgar (US Regulatory) • 05/23/2024 06:45:44 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 03:26:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 04:05:09 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM