Replies to post #17146 on Fyntechnical Innovations Inc (FYNN)

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SMC/Genesis Financial, Provider of Integrated Digital Financial Services, Completes $2.0 Million Institutional Bridge Financing $1.5 Million through AD Asset Management LTDPress Release | 02/03/2022

Charleston, SC, Feb. 03, 2022 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE) and its majority-owned subsidiary, Genesis Financial, Inc. (“Genesis”) - an integrated financial technology company (“Fintech”) are pleased to announce the closing of $2,000,000 bridge financing (“Bridge Financing”) The company has secured $1,500,000 with AD Asset Management LTD through its AD High Yield Income Fund the balance was secured with a boutique hedge fund. Both the International Asset Management Fund and the boutique hedge fund group specialize in FinTech development globally.

The Bridge Financing will be utilized in multiple ways by SMCE. It will enable us to begin pursuing accretive acquisitions and complete SMC’s financial audits. Furthermore, it will provide us the working capital necessary to attain a Reporting Issuer with the SEC and up list to a senior exchange. The Company has received the first tranche of the Bridge Financing and working towards its milestones in the coming weeks. The Company is in discussions with multiple funding groups to raise additional capital to facilitate future US-based acquisitions. Round one funding is estimated at $6-10 million in new capital.