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Monday, November 22, 2021 12:02:47 AM
§§§§ SMCE DD §§§§
SMC Signs a Letter of Intent to Acquire 100% Equity Interest in Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Press Release | 11/10/2021
POINT ROBERTS, WA / ACCESSWIRE / November 10, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) today announced that it has entered into a letter of intent ("LOI") to acquire 100% equity interest in Genesis Financial, Inc. ("Genesis"), a diversified financial services company with a focus on fintech-powered Wealth Management advisory services. The acquisition is valued at $45 million.
Genesis operates its business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. For the 9 months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT of approximately $1,035,600 (AUD$1,403,919).
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Signs-a-Letter-of-Intent-to-Acquire-100-Equity-Interest-in-Genesis-Financial-Inc-a-Fintech-Powered-Wealth-Management?id=330054
SMC Entertainment Provides Shareholder and Performance Update and a Message from its Newly Appointed President
Press Release | 11/16/2021
POINT ROBERTS, WA / ACCESSWIRE / November 16, 2021 / The newly-appointed president of SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), Mr. Erik Blum, is pleased to provide a personal message and year-to-date shareholder and performance update.
To our valued shareholders:
I'm excited and thankful for SMC's Board's vote of confidence in me as the new president and it's with great honor to be part of SMC's management team. As your new president, I intend to accelerate our agile and rapid growth strategy by focusing on our immediate goals which include raising capital, become a fully reporting company, up listing to a senior tier and explore additional acquisitions and partnerships. With its recent acquisition announcement of Genesis Financial Inc.("Genesis"), SMC is transforming itself to take advantage of emerging trends in the Financial Technology ("Fintech") industry.
Post-acquisition of Genesis, SMC management team will be an ensemble of seasoned and talented professionals with decades of experience in the financial and Fintech industries, managing and growing public companies to name a few. Our quest for sustainable growth will be relentless for years to come.
To reflect on fiscal year 2021, I'm pleased to provide the following shareholder and performance highlights.
Share Capital Structure.
As at 11/15/2021, SMC's total outstanding common shares were 672,126,974 representing 498,339,506 restricted shares and 173,787,468 unrestricted shares. SMC is seeking to cancel a total of 270,000,000 restricted shares: (i) 200,000,000 shares held by a former executive; (ii) 30,000,000 shares held by a former consultant; and (iii) 40,000,000 shares from unwinding a prior acquisition.
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Entertainment-Provides-Shareholder-and-Performance-Update-and-a-Message-from-its-Newly-Appointed-President?id=331144
SMC Engages PCAOB-Certified Auditor to Audit Its 2-year Financial Statements in Preparation of Becoming Fully Reporting Company
Press Release | 11/18/2021
POINT ROBERTS, WA / ACCESSWIRE / November 18, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) is pleased to announce it has engaged the independent auditing firm BF Borgers CPA PC ("Borgers") as its certified public accountant to audit SMC's financial statements for the past two years in preparation of SMC filing required documentation with the SEC to attain a reporting issuer status.
Borgers will initially focus on auditing SMC's financial statements for the past two years. After SMC's acquisition closing of Genesis, Borgers will audit SMC and Genesis financial statements on consolidated basis. Borgers has already audited Genesis' financial statements for the years 2019 and 2020. Selecting and retaining the services of Borgers makes SMC's future consolidated financial statements audits, inclusive of Genesis, expeditious and cost effective.
In addition to the audit milestone announcement, SMC is pleased to provide a progress report on the Genesis acquisition closing:
• SMC and Genesis have exchanged second draft of the definitive agreement. SMC anticipates signing the definitive agreement soon and plans to close the acquisition in calendar 2021.
• SMC has held discussions with a number of investment banking firms/hedge funds to either lead or syndicate SMC's capital raise to support the Genesis acquisition. SMC will make appropriate announcements once investment partners have been selected.
• SMC will be coordinating activities with its securities attorney to file required documentation with the SEC to attain a reporting issuer status. This filing will be after the closing of the Genesis acquisition and completion of consolidated audited financial statements for the combined entities. After becoming a reporting issuer, SMC plans to apply for a company name and symbol change, and up list to a senior exchange.
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Engages-PCAOB-Certified-Auditor-to-Audit-Its-2-year-Financial-Statements-in-Preparation-of-Becoming-Fully-Reporting-?id=331637
SMCE DD Links:
SMCE Share Structure > https://www.otcmarkets.com/stock/SMCE/security
SMCE NEWS > https://www.otcmarkets.com/stock/SMCE/news
SMCE Filings & Disclosure > https://www.otcmarkets.com/stock/SMCE/disclosure
Genesis Financial Inc DD & Links:
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 Accounting and The FinancialLink Group. For more information, visit http://www.ballast.com.au and http://www.tflg.com.au.
About BF Borgers CPA PC
Borgers is a full-service, PCAOB (Public Company Accounting Oversight Board)-certified public accounting firm, providing audit, tax, and consulting services. For more information, visit http://www.bfbcpa.us.
Come on over and join us on the iHub SMCE Stock Message Board for DD & chat > https://investorshub.advfn.com/Smc-Entertainment-Inc-7187
$SMCE Strong Buy
SMC Signs a Letter of Intent to Acquire 100% Equity Interest in Genesis Financial Inc., a Fintech-Powered Wealth Management Service Provider
Press Release | 11/10/2021
POINT ROBERTS, WA / ACCESSWIRE / November 10, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) today announced that it has entered into a letter of intent ("LOI") to acquire 100% equity interest in Genesis Financial, Inc. ("Genesis"), a diversified financial services company with a focus on fintech-powered Wealth Management advisory services. The acquisition is valued at $45 million.
Genesis operates its business mainly through two Australian regulated entities in wealth management, tax and accounting advisory services. For the 9 months to September 2021 the Australian operations generated gross revenue of approximately $15,765,000 (AUD$21,371,861) and derived EBIT of approximately $1,035,600 (AUD$1,403,919).
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Signs-a-Letter-of-Intent-to-Acquire-100-Equity-Interest-in-Genesis-Financial-Inc-a-Fintech-Powered-Wealth-Management?id=330054
SMC Entertainment Provides Shareholder and Performance Update and a Message from its Newly Appointed President
Press Release | 11/16/2021
POINT ROBERTS, WA / ACCESSWIRE / November 16, 2021 / The newly-appointed president of SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), Mr. Erik Blum, is pleased to provide a personal message and year-to-date shareholder and performance update.
To our valued shareholders:
I'm excited and thankful for SMC's Board's vote of confidence in me as the new president and it's with great honor to be part of SMC's management team. As your new president, I intend to accelerate our agile and rapid growth strategy by focusing on our immediate goals which include raising capital, become a fully reporting company, up listing to a senior tier and explore additional acquisitions and partnerships. With its recent acquisition announcement of Genesis Financial Inc.("Genesis"), SMC is transforming itself to take advantage of emerging trends in the Financial Technology ("Fintech") industry.
Post-acquisition of Genesis, SMC management team will be an ensemble of seasoned and talented professionals with decades of experience in the financial and Fintech industries, managing and growing public companies to name a few. Our quest for sustainable growth will be relentless for years to come.
To reflect on fiscal year 2021, I'm pleased to provide the following shareholder and performance highlights.
Share Capital Structure.
As at 11/15/2021, SMC's total outstanding common shares were 672,126,974 representing 498,339,506 restricted shares and 173,787,468 unrestricted shares. SMC is seeking to cancel a total of 270,000,000 restricted shares: (i) 200,000,000 shares held by a former executive; (ii) 30,000,000 shares held by a former consultant; and (iii) 40,000,000 shares from unwinding a prior acquisition.
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Entertainment-Provides-Shareholder-and-Performance-Update-and-a-Message-from-its-Newly-Appointed-President?id=331144
SMC Engages PCAOB-Certified Auditor to Audit Its 2-year Financial Statements in Preparation of Becoming Fully Reporting Company
Press Release | 11/18/2021
POINT ROBERTS, WA / ACCESSWIRE / November 18, 2021 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) is pleased to announce it has engaged the independent auditing firm BF Borgers CPA PC ("Borgers") as its certified public accountant to audit SMC's financial statements for the past two years in preparation of SMC filing required documentation with the SEC to attain a reporting issuer status.
Borgers will initially focus on auditing SMC's financial statements for the past two years. After SMC's acquisition closing of Genesis, Borgers will audit SMC and Genesis financial statements on consolidated basis. Borgers has already audited Genesis' financial statements for the years 2019 and 2020. Selecting and retaining the services of Borgers makes SMC's future consolidated financial statements audits, inclusive of Genesis, expeditious and cost effective.
In addition to the audit milestone announcement, SMC is pleased to provide a progress report on the Genesis acquisition closing:
• SMC and Genesis have exchanged second draft of the definitive agreement. SMC anticipates signing the definitive agreement soon and plans to close the acquisition in calendar 2021.
• SMC has held discussions with a number of investment banking firms/hedge funds to either lead or syndicate SMC's capital raise to support the Genesis acquisition. SMC will make appropriate announcements once investment partners have been selected.
• SMC will be coordinating activities with its securities attorney to file required documentation with the SEC to attain a reporting issuer status. This filing will be after the closing of the Genesis acquisition and completion of consolidated audited financial statements for the combined entities. After becoming a reporting issuer, SMC plans to apply for a company name and symbol change, and up list to a senior exchange.
Read more...https://www.otcmarkets.com/stock/SMCE/news/SMC-Engages-PCAOB-Certified-Auditor-to-Audit-Its-2-year-Financial-Statements-in-Preparation-of-Becoming-Fully-Reporting-?id=331637
SMCE DD Links:
SMCE Share Structure > https://www.otcmarkets.com/stock/SMCE/security
SMCE NEWS > https://www.otcmarkets.com/stock/SMCE/news
SMCE Filings & Disclosure > https://www.otcmarkets.com/stock/SMCE/disclosure
Genesis Financial Inc DD & Links:
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 Accounting and The FinancialLink Group. For more information, visit http://www.ballast.com.au and http://www.tflg.com.au.
About BF Borgers CPA PC
Borgers is a full-service, PCAOB (Public Company Accounting Oversight Board)-certified public accounting firm, providing audit, tax, and consulting services. For more information, visit http://www.bfbcpa.us.
Come on over and join us on the iHub SMCE Stock Message Board for DD & chat > https://investorshub.advfn.com/Smc-Entertainment-Inc-7187
$SMCE Strong Buy
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