SMC Posts Audited Financial Statements for Fiscal Years 2021 and 2022
BOCA RATON, Florida -- April 25, 2023 -- InvestorsHub NewsWire
-- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC
PINK: SMCE), an incubator company focused on acquisition and
support of commercialized financial services and technology
(Fintech) companies, is pleased to announce that it has
completed and posted its
audited financial statements for fiscal years 2021 and
2022.
In preparation for uplisting to a senior exchange, the Company
has engaged legal services of a securities attorney to complete and
file required documentation to attain reporting issuer status as
defined by the SEC. To better reflect its Fintech business plan,
the Company intends on filing corporate actions to change its
corporate name and ticker symbol.
Per the announcement dated 4/18/2023, the Company has executed a stock
purchase agreement to acquire 100% of Fyniti Global Equities EBT
Inc. (“Fyniti’). The acquisition is valued at $25
million. Fyniti (www.fyniti.com, www.fynitiiq.com) is a Fintech developer and
provider of technology that combines Artificial
Intelligence/Machine Learning (AI/ML) driven Quantitative investing
(IQ Engine) with AI-enabled wealth management Electronic Block
Trading ("EBT") technology. EBT is focused on democratizing Basket
Trading, Direct Indexing, Tax Loss Harvesting, and bringing
Separately Managed Accounts (SMAs) to the upper end of the retail
segment as well as the lower to middle market financial
institutions. Fyniti's IQ Engine is an AI driven contextual
analyzer that creates a repository of all equity research. The
Company anticipates closing the acquisition soon.
The ETFs are an $8 trillion dollar market worldwide with over
80% being passive ETFs, which can be replicated through AI/ML-based
algorithms. The wealth management platform market is roughly $1.2
trillion worldwide. The EBT market is targeted to generate $6.2
billion in fees and presents a great opportunity for using AI/ML
driven portfolio management.
“This is an important step and milestone for SMCE.” Erik Blum
CEO stated “Management continues to execute on our plan to move
forward. SMCE will be changing its name and symbol to better
reflect our new identity We expect to file Form 10 quickly and
begin the up-listing process as soon as possible.”
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
who worked for Goldman Sachs, JP Morgan Chase, Bank of America
(Merrill Lynch) and Citigroup. 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. SMC's multi-discipline growth by acquisition
approach is to enhance revenues and shareholder equity. For more
information on SMC, visit www.smceinc.com.
Press Release Contact:
Erik Blum
CEO
SMC Entertainment, Inc.
Ron Hughes
Chief Operations Officer
ron.hughes.operations@gmail.com
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.
SMC Entertainment (PK) (USOTC:SMCE)
過去 株価チャート
から 11 2024 まで 12 2024
SMC Entertainment (PK) (USOTC:SMCE)
過去 株価チャート
から 12 2023 まで 12 2024