SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE) is pleased to announce it has engaged the independent aud iting 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.
On November 10, 2021, SMC announced the execution of a letter of intent to acquire 100% equity in Genesis Financial Inc. ("Genesis"). Genesis, a diversified financial services company with a focus on fintech-powered wealth management advisory services, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. For the nine 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). All figures are unaudited.
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.
$SMCE Strong Buy
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