SMC ENTERTAINMENT INC - SMCE STOCK NEWS

SMC Entertainment, Inc. (OTC PINK: SMCE), a Fintech incubator company, announced an exclusive interview with CEO Erik Blum on The Stock Investor Daily Channel. The interview highlights SMCE's Global AI platform and Blum's vision to democratize access to global markets using AI-powered, blockchain-based trading platforms.

SMC focuses on acquiring and supporting commercialized Fintech companies. Its subsidiary, Fyniti Global Equities EBT, Inc., develops disruptive technologies in Wealth Management and capital markets. Another key player is ChainTrade , a joint venture offering AI research tools for investors to analyze market data and make informed decisions.

SMC Entertainment (SMCE) has entered a Letter of Intent to acquire Bateau Asset Management, an Australia-based boutique global investment manager, in an all-stock transaction valued at US$14 million. This acquisition marks SMC's entry into the Southeast Asian financial services market.

Key points:

• Bateau manages $20 million AUD in assets for over 150 high-net-worth clients
• SMC aims to grow Bateau's AUM to over $100 million within 2 years using AI technology
• The deal is expected to close in September 2024
• SMC plans to deploy its Chaintrade.AI platform internationally using Bateau's infrastructure

This acquisition aligns with SMC's strategy as a Fintech incubator focused on acquiring and supporting commercialized financial services and technology companies.

SMCE (OTC: SMCE) has launched Chaintrade.ai, an AI-powered platform for capital markets data intelligence. The platform offers vertically focused AI applications for real-time analysis across various assets, including equities, commodities, ETFs, bonds, and indices. Key features include real-time data analysis, advanced AI algorithms, customizable dashboards, and multi-asset coverage.

Chaintrade was acquired by SMCE and commercially deployed within 60 days. The platform aims to revolutionize how investors, analysts, and financial institutions access and leverage market data, providing actionable intelligence and predictive insights. Chaintrade.ai emphasizes data security and regulatory compliance, with plans for continuous expansion and integration with emerging technologies like blockchain and DeFi.

SMC Entertainment, Inc. (OTC: SMCE) has announced the exchange of $516,004 of debt in convertible promissory notes for 55,000 Series D Preferred Shares. This transaction will be reflected in the company's Q3 2024 financial statements. The preferred shares can be converted to common stock after two years at a price of either $0.005 or 65% of the average closing price in the preceding 90 trading sessions, whichever is lower.

Since June 14, 2024, SMC has retired or exchanged a total of $1,395,763 of debt and cancelled 250,000,000 common shares since June 7, 2024. CEO Erik Blum stated that this exchange demonstrates investor commitment and provides an opportunity to enhance the company's balance sheet. He also mentioned that management is working to reduce long-term debt, minimize shareholder dilution, and increase shareholder value.

SMC Entertainment (OTC PINK: SMCE) announced corporate updates for June & July 2024. Key highlights include:

• Debt reduction of $879,759
• Increased management ownership through debt conversion
• Partnership with PCG Advisory for marketing AI-powered products
• Investment agreement with ProActive Capital Partners
• Acquisition of ChainTrade, an AI-powered trading platform
• Launch of FYNN-AI research tool
• Development of Chaintrade.Pro platform
• Progress on Fyniti's EBT platform
• Request for corporate name change to Fyntechnical Innovations Inc.
• SEC review completion of Form 10
• Share cancellation of 250,000,000 shares
• Engagement of new auditor RBSM, LLP

The company aims to create a global DeFi platform with AI-driven research and commission-free trading.

On July 11, 2024, SMC Entertainment (OTC: SMCE) announced the retirement of an additional $436,884 of debt, which will be reflected in the third quarter 2024 financial statements.

This debt includes $300,374 held by a non-affiliate debt holder and $136,500 in accrued consulting fees held by insiders. The debt was converted to 68,250,000 common shares at $0.002 per share, restricted under SEC Rule 144.

Management expressed that this move underscores their commitment to reducing long-term debt, minimizing shareholder dilution, and increasing shareholder value. SMC continues its acquisition and development strategy with subsidiaries like Chaintrade and Fyniti, focusing on AI-driven fintech solutions.

SMC Entertainment has signed a partnership agreement with PCG Advisory and an investment agreement with ProActive Capital Partners. PCG Advisory will market and resell SMC's AI-powered products, while ProActive Capital will provide a $35,000 convertible note for working capital. The agreements aim to enhance SMC's business growth and increase PCG Advisory and ProActive Capital's exposure in the fintech market. SMC's CEO believes the partnership will help achieve the milestone of 1,000 paid subscribers for their ChainTrade.ai platform.

SMC Entertainment announces the appointment of RBSM as its new independent accountant and auditor. Effective from June 24, 2024, RBSM will audit the company's financial statements for the fiscal year ending December 31, 2024. Previously, SMC had no consultations with RBSM regarding accounting principles or audit opinions. There were no disagreements between SMC and its former auditor, Olayinka Oyebola & Co, regarding accounting practices or financial disclosures. CEO Erik Blum expressed his gratitude towards Olayinka and optimism about working with RBSM.

SMC Entertainment (OTC PINK:SMCE) has completed the acquisition of ChainTrade 's AI-powered trading platform. This platform, developed by UK-based ChainTrade in collaboration with Plato Data Intelligence and Redmatter.Capital, supports trading in equities, ETFs, commodities, and indices through an AI-powered assistant. The platform aims to enhance trading by leveraging AI for predictive analysis, risk management, and personalized investment strategies.

SMC has launched two verticals for the platform: ChainTrade.AI for the US and ChainTrade.pro for international markets. Currently, a free trial is available for the AI research advisor software. The platform's features include the analysis of live price data, performance, and risk factors, aimed at providing timely insights for portfolio optimization. The acquisition terms include an $8 million promissory note, an initial $30,000 payment, and subsequent payments every 45 days until the platform turns cashflow positive.