SMC ENTERTAINMENT INC - SMCE STOCK NEWS

SMC Entertainment, Inc. (OTC: SMCE) has secured $2,000,000 in bridge financing, with $1,500,000 provided by AD Asset Management LTD and the remainder from a boutique hedge fund. This funding will support acquisitions, financial audits, and regulatory compliance to become a Reporting Issuer with the SEC. SMC aims to raise an additional $6-10 million for future U.S. acquisitions. Genesis Financial, SMC’s subsidiary, offers digital financial services and targets growth within Australia's wealth management sector.

SMC Entertainment, Inc. (OTC: SMCE) announced the cancellation of 40,000,000 common shares, effective January 25, 2022, as part of its initiatives for share reduction. The company has also provided its auditor with necessary documents to finalize the financial statements for fiscal years 2019 and 2020. An audit for fiscal year 2021 is set to commence, aimed at preparing for consolidated balance sheets. Genesis Financial, SMC's subsidiary, operates in the fintech sector, supporting wealth management and advisory services in Australia, targeting a fragmented market with significant potential.

SMC Entertainment, Inc. (OTC: SMCE) has achieved significant milestones in fiscal 2021, including the successful acquisition of Genesis Financial, valued at $45 million, enhancing its presence in the financial technology sector. Genesis reported gross revenue of approximately AUD$21.37 million and EBIT of AUD$1.40 million for the first nine months. For 2022, SMC aims to attain reporting issuer status, up-list to a senior exchange, raise $15 million for growth, and retire restricted shares while launching a new joint venture in Australia to expand its service offerings.

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.