Replies to post #18541 on SMC Entertainment Inc (SMCE)

[oldstocks]

I was concerned about shell risk so i emailed SMC early Friday morning asking about the shell risk and how the deal was coming along.
I got no reply back.
But funny thing happened with my no reply back. They publicly put out:

SMC Clarifies Its Letter of Intent to Acquire a Stake in a SEC Registered and FINRA Regulated Broker Dealer
Acquisition, Merger, Takeover Announcement | 03/17/2023
March 17, 2023
OTC Disclosure & News Service

Boca Raton, FL —

This release includes additional documents. Select the link(s) below to view.
SMCE NR - Broker Deal Clarification (3:17:2023).pdf
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, wishes to clarify its recent announcement to acquire a minority stake in a SEC registered and FINRA regulated broker dealer ("Broker Dealer"), based in Texas.



On February 28, 2023, SMC announced it signed a Letter of Intent to acquire a minority stake in Broker Dealer ("BD LOI") for equity pending FINRA approval.



On February 15, 2023, SMC announced it signed a Letter of Intent to acquire AI-enabled wealth management technology platform provider, Fyniti Global Equities EBT Inc. ("Fyniti") ("Fyniti LOI").



SMC wishes to clarify that BD LOI and Fyniti LOI are two separate transactions and will be subject to separate due diligences processes and approvals.



About Fyniti Global Equities EBT Inc.

Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran wall street technologists and investment bankers. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.



About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMCs multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.





Press Release Contact

Erik Blum

CEO & President

SMC Entertainment, Inc.



Ron Hughes

COO & Director

[e-mail]

360-820-5973



Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.