SMC Entertainment Inc (SMCE)

[Divest]

I really don't think that is going to happen my friend. Let's look at that tweet again:

$SMCE:
Convertible Note

Due Date
6.30.2024

Amount
$89038

Conversion Rate .00084

Common Shares
105,997,619 pic.twitter.com/HBtwXPCRjJ

— TheStockGuru (@TheStockGuru13) July 3, 2024

This guy was nice enough to to share an image of the convertible notes in his tweet, so let's look at it together very carefully.

The company whose note just matured on Sunday is called Kanno Group Holdings II LTD. SMCE currently owes that company payment for 14 matured convertible notes dating back to 2020, with a principal balance of some $216,000 not including the June 30th note. However, when we look at the column showing past conversions we can see that they haven't made a single conversion. They just charge interest on old loans, while continually issuing new loans as needed.

So I don't see any evidence that they are going to suddenly change their practices and convert on this one loan, do you? If you agree that's great, but if you don't can you explain what makes this $82K loan special?

I don't believe that it's a special loan, so since they haven't converted on any of the previous 14 other loans that are past their maturity date, I don't believe they will convert this time either.

Oh, one more question if the convertible noteholders aren't selling down here isn't that ridiculously bullish, for us longs? Now I'll go back to the shadows.