SMC Entertainment Inc (SMCE)

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More HUGE SMCE news folks>>>WiMundo, SMC Entertainment's Wholly Owned Subsidiary, Enters Hospitality Safety Market With A New Product

12/12/2019 | 10:05am EST

San Francisco, California--(Newsfile Corp. - December 12, 2019) - SMC Entertainment, Inc. (OTC PINK: SMCE) ("SMC" or the "Company"), a provider of wireless communications services, digital content, and media distribution solutions, is pleased to announce that WiMundo H.S.I.A. Solutions ("WiMundo"), SMC's wholly owned subsidiary, is developing an end-to-end solution for the hospitality industry's upcoming mandated employee safety.

The market opportunity is projected to grow substantially in the coming years as more cities enact legislations to address hotel employee safety. Recent local safety ordinances, including Section 4-6-180 of the Chicago Municipal Code, Seattle Initiative 124, and New York Hotel and Motel Trades Council, AFL-CIO contract section 70, mandated panic buttons for hotel employees. Hotels in New York City are already required to provide panic buttons under a collective bargaining agreement with labor unions. Seattle was the first city to enact a panic button ordinance. Panic buttons are rapidly spreading as a way to protect hotel employees who work alone and enter guest rooms.

WiMundo has been working on an end-to-end panic button solution to address the growing demand for hotel staff safety. End-to-end safety solutions are comprised of hardware and software components. WiMundo is in the process of finalizing a panic button prototype (a hardware component), and was in early planning stages to design a server-based software to locate, manage and interact with hotel employees/panic buttons. Generic location software solutions based on GPS signals are not suitable for indoor applications since they would provide a general location approximation of a building structure and not floor/room location. The alternative to a GPS-based solution is a Wi-Fi-based tracking solution that acquires and calibrates signal strength to locate panic buttons/employees and then display location information on a scanned image of a hotel map.

In 2018, SMC acquired an end-to-end Wi-Fi-based solution that addresses employee safety for underground mines. While the hardware portion would be deployed in underground mines, the software portion operates above ground. WiMundo plans to integrate SMC's existing Wi-Fi-based location software with its new product for the hospitality industry. This leveraging of technologies will result in a much faster product development cycle and faster market entry. The final product will be offered on a monthly subscription fee or a onetime license fee for larger hotel operators. In the coming months, WiMundo will release additional information with respect to product name, availability and pricing.

Rick Bjorklund, Chairman and CEO of SMC, and Grant Cheeseman, President of WiMundo, both stated, "From the outset we realized there's a great synergy between our products. We will continue to leverage them to create new market opportunities for us that will translate to faster revenue growth. WiMundo has gained a robust knowledge in deploying Wi-Fi solutions in the hospitality industry, all of its customers have existing Wi-Fi infra-structures, and it is only natural for WiMundo to focus on its core strengths."

SMC's share capital structure, including new 20,000,000 restricted shares issuance to acquire WiMundo, is as follows: total outstanding common shares 366,626,974; total restricted common shares 243,339,506; total non-restricted common shares 123,287,468; total Cede & Co (DTC) common shares 64,329,070. It's our understanding that DTC's position of 64,329,070 shares reflects available shares that can be traded electronically by the public.

https://www.wsj.com/articles/PR-CO-20191212-911290