I partially agree with your post "SMCE has no money and sports a sordid scam history"
SMCE had scam history. But now totally new management for the past couple of years. Made many attempts to acquire or merge with many companies but some reason none worked out.
It's not that they dumped billions of shares like OTC scams does with P&D news. hardly 700 million OS and 500 million restricted.
Why do you think they scamed investors? Don't see anything points to scam here unless you see something that I don't
They found opportunity with Genesis and immediately cancelled spectrum entertainment deal, jumped on the opportunity.
FDCT valued Genesis at $35 million per 2020 revenues. Now the same company valued at $45 million. Not a bad deal at all.
Why Genesis chose SMCE for merger? I am not 100% sure but IMO, can think couple of reasons.
Genesis tried to merge couple of times but didn't work out. They want to get things rolling quickly and hence chose SMCE.
As you see from management changes, Genesis very much took control of the company. They can run the show now as they want.
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