SMC ENTERTAINMENT INC - SMCE STOCK NEWS

SMC Entertainment announced the retirement of $442,875 in debt through the conversion of consulting fees and management earnings into equity. This includes $360,875 from two previous consultants and $82,000 held by current insiders, which was converted to 60,740,740 common shares at $0.00135 per share. The shares are restricted under SEC Rule 144 and will vest in two years. CEO Erik Blum emphasized the strategic move to enhance the company's balance sheet and increase equity commitment, highlighting recent asset acquisition announcements. The debt retirement will be reflected in the Q2 2024 financials.

SMC Entertainment (OTC:SMCE), a technology incubator company focusing on financial services and technology acquisitions, has announced the completion of its Form 10 review by the Securities and Exchange Commission (SEC). This milestone marks SMC as a fully reporting public company and aligns with its recent acquisition of ChainTrade The management team, led by CEO Erik Blum, collaborated closely with legal and accounting teams to address the SEC's comments, successfully completing the process. The next step for SMC involves filing for a company name and symbol change with FINRA.

SMC Entertainment announced the cancellation of 250 million shares of common stock, reducing its outstanding shares by 17%. This action rectifies a discrepancy found during an audit, where certificates totaling 250 million shares were reported lost. The cancellation has been confirmed by the company's Stock Transfer Agent. CEO Erik Blum emphasizes that this move aligns with their AI business strategy and aims to increase shareholder value.

SMC Entertainment (OTC PINK: SMCE) announced the acquisition of ChainTrade 's AI-powered trading platform. This acquisition aligns with SMC's strategy to enhance its fintech portfolio. The deal, pending due diligence within 30 days, will allow SMC to integrate ChainTrade's platform, which facilitates trading in equities, ETFs, commodities, and indices with a personalized AI assistant. The platform aims to improve investment research, risk management, and asset allocation. ChainTrade, a UK-registered fintech, has developed this platform over three years, focusing on AI's predictive capabilities. The launch of the AI research tool will enable investors to analyze live price data, performance, sentiment, and risk factors, optimizing portfolio performance. SMC plans to deploy a fully functioning AI-enhanced SaaS model by the end of the quarter, expecting positive revenue growth from this acquisition.

SMC Entertainment, Inc. (SMC) has signed an LOI to acquire Chaintrade , an AI Fintech company. Chaintrade has developed an AI Powered Asset Trading Platform that revolutionizes trading and investing by leveraging AI's predictive capabilities. The acquisition will advance SMC's infrastructure and technology, allowing them to shift from conception to full implementation of their SaaS vision. After closing, SMC plans to re-brand their AI component as FYNN AI, a next-generation learning and research AI designed to help users trade smarter.

SMC Entertainment, Inc. (SMCE) announces a marketing agreement with Plato Technologies Inc., focusing on AI content disruption and management systems. The collaboration aims to market Plato's platform to web and content development teams, with a revenue-sharing agreement in place. The partnership is expected to enhance SMC's AI foundation, data management, and market-driven machine learning program for trading, leveraging Plato's expertise. Both CEOs express excitement and foresee significant synergies in utilizing content for market data assimilation and expanding SMC's ecosystem.

SMC Entertainment, Inc. provides corporate and shareholder update. Filed Form 10-12G to become fully reporting issuer. Plans to seek name and trading symbol change. Fyniti Global Equities EBT Inc. focuses on product development. Targeting $1.2 billion in fees through tax loss harvesting. Engaged Shareholders IPR LLC for market research and product positioning report.

SMC Entertainment, Inc. has completed its acquisition of Fyniti Global Equities EBT Inc. for $25 million. Fyniti is a Fintech developer and provider of AI/ML-driven quantitative investing and wealth management technology. The acquisition strategically positions SMC in the AI-enabled Fintech industry, which is projected to exceed $6.2 billion by 2032 with a CAGR of 22.5% between 2023 and 2032.