SMC Announces Completion of Review of Form 10 by the Securities and Exchange Commission

Rhea-AI Summary

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.

Positive

• SMC has completed the SEC review of its Form 10, confirming its status as a fully reporting public company.
• Successful acquisition of 100% of ChainTrade assets.
• Plans for a company name and symbol change with FINRA indicate forward movement and rebranding efforts.
• Management's diligent effort over the past 12 months highlights a commitment to compliance and growth.

Negative

• No specific financial data or revenue figures were provided in the press release.
• The PR lacks detailed information on the terms and conditions of the ChainTrade acquisition.
• Future business impacts of the name and symbol change are uncertain and could introduce volatility.

BOCA RATON, FL / ACCESSWIRE / June 10, 2024 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC:SMCE), a versatile technology incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the completion of its review of Form 10 by the Securities and Exchange Commission ("SEC"). SMC filed its initial Form 10 in June 2023.

This completion of the review marks a momentous milestone and solidifies SMC as a fully reporting public company. This completion of the process is timely with SMC's recent announcement to purchase 100% of the assets of ChainTrade Ltd. With this done, SMC's next major milestone is filing for a company name change and symbol change with FINRA..

"For the past 12 months, SMC's management team worked very closely with its legal and accounting teams to address the SEC's comments in an expeditious manner," commented Erik Blum, SMC's CEO. "The diligent hard work ultimately paid off and our thanks to all of our team members including the guidance of the SEC staff who were instrumental in getting us to the finish line."

About SMC: www.smceinc.com

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.

About Chaintrade: https://chaintrade.ai

Chaintrade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD a registered financial service company, with its subsidiary licensed under a securities trading license granted by the Montenegro Capital Market Authority (CMA) Authorized by the law on capital markets by the government of Montenegro.

Press Release Contact

Erik Blum
CEO
SMC Entertainment, Inc.
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.

SOURCE: SMC Entertainment, Inc.

View the original press release on accesswire.com

FAQ

What did SMC Entertainment announce on June 10, 2024?

SMC Entertainment announced the completion of its Form 10 review by the SEC.

What is significant about SMC Entertainment's completion of the Form 10 review?

The completion marks SMC as a fully reporting public company.

What recent acquisition did SMC Entertainment complete?

SMC Entertainment recently acquired 100% of the assets of ChainTrade

What are SMC Entertainment's future plans following the SEC review completion?

SMC plans to file for a company name and symbol change with FINRA.

What stock symbol does SMC Entertainment trade under?

SMC Entertainment trades under the symbol SMCE.