Smc Entertainmnt Stock Price, News & Analysis

SMC Entertainment Inc. (OTC:SMCE) announced the appointment of Charles R. Provini as Independent Chairman, increasing the Board from two to three directors. Provini's extensive experience spans asset management, investment banking, and technology, bringing valuable insights for the company’s growth strategy. He has held key leadership roles in various firms, including Natcore Technology Inc. and Ladenburg Thalmann. Executive Directors emphasized that Provini's leadership will guide SMC through its fintech-driven acquisition strategy as they aim to enhance revenues and shareholder equity.

SMC Entertainment, Inc. (OTC: SMCE) has engaged Buckman, Buckman & Reid, Inc. (BB&R) for investment banking services. This partnership aims to facilitate capital raises and provide advisory support for future acquisitions and growth strategies. BB&R, established in 1988, will assess SMC's business condition and corporate structure. Erik Blum, President of Genesis Financial, expressed optimism about this collaboration, highlighting the potential for capital generation and company growth. BB&R aims to drive shareholder value through this strategic partnership.

SMC Entertainment, Inc. (OTC: SMCE) has engaged attorneys to develop an Executive and Employee Share Option Plan (ESOP) to incentivize advisors, executives, and shareholders. Director Warwick Kerridge emphasized the importance of human capital, while President Eric Blum noted the plan's potential to attract new advisors and differentiate SMC in the financial services sector. CEO Ron Hughes expressed full support, indicating that further details on the ESOP will be announced shortly. This initiative aims to enhance the company's value and recruitment efforts as it focuses on fintech-powered wealth management.

SMC Entertainment has completed a $45 million acquisition of Genesis Financial, a diversified financial services company, as of December 10, 2021. The acquisition, endorsed by 95.28% of Genesis stockholders, is poised to significantly bolster SMC's revenue and expand its shareholder base. In addition, SMC plans to raise $15 million for operational and acquisition purposes, conduct financial audits, and file necessary regulatory documents for SEC reporting status. Genesis generated approximately $15.76 million in gross revenue for the nine months ended September 2021.

SMC Entertainment, Inc. (OTC PINK:SMCE) has announced a definitive agreement to acquire Genesis Financial, Inc., a fintech-focused wealth management firm, for $45 million. The deal is set to close by December 10, 2021. Genesis generated approximately $15.8 million AUD in revenue, with an EBIT of $1.04 million AUD for the nine months ending September 2021. SMC will issue convertible preferred shares and undertake a capital raise of $15 million for expansion. The acquisition is expected to enhance SMC's growth and position in the financial services sector.

SMC Entertainment (OTC PINK:SMCE) has engaged BF Borgers CPA PC to audit its financial statements for the past two years. This step is part of SMC's preparations to file necessary documentation with the SEC to gain reporting issuer status. The company announced the acquisition of Genesis Financial, a diversified financial services firm, which reported approximately AUD$21.37 million in gross revenue for the nine months ending September 2021. SMC aims to complete the acquisition by year-end 2021 and potentially up-list to a senior exchange afterward.

SMC Entertainment appointed Erik Blum as its new president, aiming to accelerate growth through capital raising, reporting status, and potential acquisitions. The company retired $600,000 in long-term debt without shareholder dilution and plans to cancel 270 million restricted shares to enhance its capital structure. SMC seeks to unwind its acquisition of Spectrum Entertainment, aiming to reclaim over $145,000 and return 40 million shares. Additionally, SMC sold wireless assets to Aktiv-Trak for $600,000, with $102,000 received year-to-date. The company is optimistic for fiscal year 2022.

SMC Entertainment, Inc. (OTC PINK:SMCE) has appointed Erik Blum as its new president, effective immediately. Mr. Blum's role includes finalizing the acquisition of Genesis Financial Inc., seeking capital from institutional investors, and leading the company's uplisting to a senior tier. His extensive experience in corporate finance and capital markets positions him well for this transition. CEO Ron Hughes expressed confidence in Blum's capabilities to integrate the businesses and enhance shareholder value. This strategic move aims to strengthen SMC's operational framework and growth potential.

SMC Entertainment, Inc. (OTC PINK:SMCE) has signed a letter of intent to acquire Genesis Financial, Inc. for $45 million. Genesis specializes in fintech-powered wealth management and generated approximately $15.8 million in revenue over nine months ending September 2021. The acquisition will involve stock issuance to Genesis shareholders and a subsequent capitalization plan of at least $15 million. This move aims to strengthen SMC's market position and expand its operations in the U.S. and Australia, addressing a significant portion of underserved clients in the financial advisory sector.