SmartCard Marketing Systems Inc (OTC:SMKG) Announces Update and Guidance Outlook for 2021 to Stakeholders and Investors

Rhea-AI Summary

Smartcard Marketing Systems Inc. (OTC:SMKG) announced plans to qualify for trading in the Canadian market and has published its audited financial statements for 2020 and Q1 2021, achieving upgraded Pink Compliant status. The company is in talks with regulatory bodies regarding continuous disclosure and intends to pursue an SEC S1 registration. CEO Massimo Barone expressed confidence in their business progress and outlined multiple funding offers totaling over $25 million USD, reinforcing their investments in key infrastructure for e-commerce and blockchain solutions.

Positive

• Published audited financial statements for 2020 and Q1 2021.
• Achieved upgraded Pink Compliant status.
• In discussions with private equity funds for funding offers totaling over $25 million USD.

Negative

• Delays in meeting timelines during ongoing discussions with regulatory bodies.
• -

Noteworthy: Recent spotlight has been focused on the company's dealings with Visa Everywhere Fintech, Mumbai Gov't Fintech JV, Axepay FX Cross-border Payment Rails, Chat Bot AI code library acquisition, OriginatorX - Ethereum Token Issuing & Patent Tokenization and Xpay World Singapore Payment minority ownership.

New York, NY, June 11, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Smartcard Marketing Systems Inc. (OTC:SMKG) announced today the company is on track to meet current status filings and in addition proceeding with filings to qualify for trading in the Canadian Market. The published audited statements for 2020 Dec 31st year end by a PBAOC Auditor (BF Borgers CPA PC), and 1st Qtr March 31st 2021 also published on the OTCMARKETS.com, with recent updated information and upgraded Pink Compliant status. 

Furthermore, the company has had discussions with both IIROC and L’Autorite Du Marche Quebec on how to proceed and continuous disclosure requirements in order to qualify with National Instruments 51-101. The company will also pursue under guidance the S1 registration. 

SEC Form S-1 is an SEC registration required for U.S. companies that want to be listed on a national exchange. It is basically a registration statement for a company that is usually filed in connection with an initial public offering. Any amendments or changes that have to be made by the issuer are filed under SEC Form S-1/A.

CEO Massimo Barone stated, “We are pleased with the progression despite some delays during these times but are confident in the guidance and steps forward with our Market advisors. The company is on track to a successful year with respects to commercial deployments in several markets with key partners and financial institutions – and a solid book of merchant activations. We have secured multiple relations directly and indirectly through our minority interests with telecom and banks that will create significant value and showcase the major investments in our Intellectual Property and Fintech / Paytech accelerator program. 

“The portfolio we developed provided key infrastructure applications for Ecommerce, Cloud and Mobility, enabling marketplaces with Blockchain, Tokens and Wallet solutions for multiple industries. The strength of our Cross-border Payment FX rails for Treasury and Supply Chain management is at the core allowing us to underwrite deals much faster in over 42 supported Countries.”

The company is in discussions with Private Equity funds and has received multiple offers for funding terms for ELOCs of 3 year terms upward of $25m USD and $35m CDN. These are significant as it provides a strong base for our undertakings with Financial Institutions in several markets and quantifies our investment into our Intellectual Properties over the recent years. 

About us

SmartCard Marketing Systems Inc (OTC:SMKG) is an industry leader in specialized industry cloud and mobility applications to the global PayTech and FinTech markets. SMKG is an entrepreneurial boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises, retail e-wallets, digital id-eKYC, digital workforce, events management, education, telemedicine and ride-booking industries. 

For more info visit  www.smartcardmarketingsystems.com  or visit our business applications marketplace at www.Emphasispay.com.

We seek a safe harbor.

CONTACT:  

Massimo Barone CEO
mbarone@smartcardmarketingsystems.com 
SmartCard Marketing Systems Inc.
OTC:SMKG  Ph: 1-844-843-7296
news@smartcardmarketingsystems.com

FAQ

What recent developments has Smartcard Marketing Systems (SMKG) announced?

Smartcard Marketing Systems has announced plans to qualify for trading in the Canadian market, completed audits for 2020 and Q1 2021, and upgraded to Pink Compliant status.

What is the significance of the SEC S1 registration for SMKG?

The SEC S1 registration is essential for companies seeking to be listed on a national exchange, facilitating future capital raises and greater visibility.

How much funding has SMKG discussed securing?

Smartcard Marketing Systems is in discussions with private equity funds for funding offers upward of $25 million USD.

What market sectors is SMKG focusing on for its business operations?

Smartcard Marketing Systems is focusing on e-commerce, blockchain applications, and digital payment solutions across various industries.