Fyntechnical Innovations Inc (FYNN)

[oldstocks]

SMC Entertainment, Inc. ("SMC" or the "Company") (OTC:SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has completed and closed its acquisition of Fyniti Global Equities EBT Inc. ("Fyniti"); valued at $25 million.
Fyniti (www.fyniti.com, www.fynitiiq.com) is a Fintech developer and provider of technologies that combine Artificial Intelligence/Machine Learning (AI/ML) driven quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology.
Pursuant to the closing documents:
Fyniti has assigned all intellectual property ("IP"), algorithms, know-how, sales and marketing collateral, and other tangible and intangible assets to the Company;
Fyniti will operate as a 100% wholly owned subsidiary of the Company;
Fyniti will be managed by its founding members and will have complete control of the direction of expanding the business. Fyniti was founded by veteran Wall Street technologists and investment bankers who worked for Goldman Sachs, JP Morgan Chase, Bank of America (Merrill Lynch) and Citigroup;
The Company has issued 2,500,000 unregistered shares of its $10.00 Series B Preferred Stock to Fyniti's stockholders; and
"We are pleased to have concluded the Fyniti acquisition in such a short time span," commented SMC's CEO Erik Blum. "The acquisition will strategically position SMC in the competitive landscape as a major player in the AI-enabled Fintech industry which will exceed $6.2BIL by 2032 boasting a CAGR of 22.5% between 2023 and 2032."
Fyniti's EBT technology is focused on democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti's IQ Engine is an AI-driven contextual analyzer that creates a repository of all equity research.
The ETFs are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a great opportunity for using AI/ML driven portfolio management.