SMC Entertainment Inc (SMCE)

[BIOCHEMUP]

Looks like there was an increase of 72M shares overnight. Quite odd and contrary to the recent announcements of reducing the amount of restricted/outstanding shares.

Could it be that these shares were added in the sake of a bigger plan at hand? Maybe the increase relates to a new acquired venture?

"BB&R is the right partner for us at the right time" quoted Erik Blum President of SMC’s Genesis Financial "This is a huge step in our ability to raise capital, up-list and vet the acquisitions we have targeted

Consistent with our growth plans we have identified potential acquisitions in both the United States and Australia. Preliminary due diligence is currently under way.

Details of this Joint Venture will be announced in the coming weeks following completion of the due diligence and financial plan regarding the Joint Venture.

It would be totally irrational if this increase is the result of dilution, that would be a dumb move from a FinTech company. So I'm of the impression that it's part of a financial deal relating to the unknown acquistions that are in the pipeline.