SMC Entertainment Inc. Signs Letter of Intent to Acquire 100% of Flax Tech Ltd, a United Kingdom Crypto Disruptor Provider
SMC Entertainment (OTC PINK: SMCE) has signed a Letter of Intent to acquire 100% of Flax Tech , a United Kingdom-based crypto disruptor company. The acquisition, pending due diligence and a definitive purchase agreement, will make Flax a wholly-owned subsidiary of SMC, with Surya Chowdhury continuing as its founder and president.
The company also announced the appointment of Eric Sherb of EMS Consulting Services as its new Chief Financial Officer, replacing Adam Yang. CEO Erik Blum stated they are working on integrating their legacy platforms into Fyntechnical.com, with the Flax Tech platform expected to enhance their FYNN AI model.
Flax Tech specializes in developing a disruption platform for crypto research, AI interaction, and trading, including proprietary technology and infrastructure.
SMC Entertainment (OTC PINK: SMCE) ha firmato una Lettera di Intenti per acquisire il 100% di Flax Tech, un'azienda innovativa nel settore delle criptovalute con sede nel Regno Unito. L'acquisizione, soggetta a due diligence e a un contratto di acquisto definitivo, porterà Flax a diventare una sussidiaria interamente controllata da SMC, con Surya Chowdhury che continuerà a ricoprire il ruolo di fondatore e presidente.
L'azienda ha anche annunciato la nomina di Eric Sherb di EMS Consulting Services come nuovo Direttore Finanziario, che sostituirà Adam Yang. Il CEO Erik Blum ha dichiarato che stanno lavorando all'integrazione delle loro piattaforme legacy in Fyntechnical.com, con la piattaforma Flax Tech destinata a migliorare il loro modello di intelligenza artificiale FYNN.
Flax Tech si specializza nello sviluppo di una piattaforma di innovazione per la ricerca sulle criptovalute, l'interazione con l'intelligenza artificiale e il trading, inclusa la tecnologia e l'infrastruttura proprietarie.
SMC Entertainment (OTC PINK: SMCE) ha firmado una Carta de Intención para adquirir el 100% de Flax Tech, una empresa disruptora de criptomonedas con sede en el Reino Unido. La adquisición, sujeta a una debida diligencia y a un contrato de compra definitivo, convertirá a Flax en una subsidiaria de propiedad absoluta de SMC, con Surya Chowdhury continuando como su fundador y presidente.
La empresa también anunció el nombramiento de Eric Sherb de EMS Consulting Services como su nuevo Director Financiero, sustituyendo a Adam Yang. El CEO Erik Blum declaró que están trabajando en la integración de sus plataformas heredadas en Fyntechnical.com, con la plataforma de Flax Tech que se espera mejore su modelo de inteligencia artificial FYNN.
Flax Tech se especializa en el desarrollo de una plataforma disruptiva para la investigación en criptomonedas, la interacción con inteligencia artificial y el trading, incluyendo tecnología e infraestructura propietarias.
SMC 엔터테인먼트 (OTC PINK: SMCE)는 영국에 본사를 둔 암호화폐 혁신 기업인 Flax Tech의 100% 인수를 위한 의향서를 체결했습니다. 인수는 실사 및 최종 구매 계약이 완료되는 대로 진행되며, Flax는 SMC의 완전 자회사로 편입되고, Surya Chowdhury는 계속해서 창립자이자 회장 역할을 수행할 예정입니다.
회사는 또한 EMS Consulting Services의 Eric Sherb를 새로운 최고 재무 책임자로 임명한다고 발표했으며, Adam Yang이 그 역할을 대체합니다. CEO Erik Blum은 그들이 Fyntechnical.com에 이전 플랫폼을 통합하는 작업을 진행 중이며, Flax Tech 플랫폼이 FYNN AI 모델을 향상시킬 것으로 기대된다고 밝혔습니다.
Flax Tech는 암호화폐 연구, AI 상호작용 및 거래를 위한 혁신 플랫폼을 개발하는 데 전문화되어 있으며, 독자적인 기술과 인프라를 포함하고 있습니다.
SMC Entertainment (OTC PINK: SMCE) a signé une Lettre d'Intention pour acquérir 100% de Flax Tech, une entreprise disruptive dans le domaine des cryptomonnaies basée au Royaume-Uni. L'acquisition, soumise à une due diligence et à un contrat d'achat définitif, fera de Flax une filiale entièrement détenue par SMC, avec Surya Chowdhury continuant en tant que fondateur et président.
L'entreprise a également annoncé la nomination d'Eric Sherb d'EMS Consulting Services en tant que nouveau directeur financier, remplaçant Adam Yang. Le PDG Erik Blum a déclaré qu'ils travaillent à l'intégration de leurs plateformes existantes dans Fyntechnical.com, la plateforme Flax Tech devant améliorer leur modèle d'IA FYNN.
Flax Tech se spécialise dans le développement d'une plateforme disruptive pour la recherche en cryptomonnaie, l'interaction avec l'IA et le trading, y compris la technologie et l'infrastructure propriétaires.
SMC Entertainment (OTC PINK: SMCE) hat ein Absichtsschreiben zur Übernahme von 100% von Flax Tech, einem im Vereinigten Königreich ansässigen Unternehmen für Krypto-Innovationen, unterzeichnet. Die Übernahme, die einer Due Diligence und einem endgültigen Kaufvertrag unterliegt, wird Flax zu einer hundertprozentigen Tochtergesellschaft von SMC machen, wobei Surya Chowdhury weiterhin als Gründer und Präsident fungiert.
Das Unternehmen gab außerdem die Ernennung von Eric Sherb von EMS Consulting Services zu seinem neuen Chief Financial Officer bekannt, der Adam Yang ersetzen wird. CEO Erik Blum erklärte, dass sie an der Integration ihrer Legacy-Plattformen in Fyntechnical.com arbeiten, wobei die Flax Tech Plattform voraussichtlich ihr FYNN AI-Modell verbessern wird.
Flax Tech ist auf die Entwicklung einer Disruptionsplattform für Krypto-Forschung, KI-Interaktion und Handel spezialisiert und bietet proprietäre Technologien und Infrastruktur an.
- Strategic acquisition of a crypto technology platform that enhances AI capabilities
- Integration of Flax Tech platform with existing Fyntechnical.com infrastructure
- Appointment of new CFO with consulting background
- Acquisition still subject to due diligence and final agreement
- Financial terms of acquisition not disclosed
BOCA RATON, Fla., Jan. 21, 2025 (GLOBE NEWSWIRE) -- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK: SMCE), a Fintech incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has signed a Letter of Intent (“LOI”) to acquire a
SMC is anticipating quickly reaching an executed definitive purchase agreement (“Purchase Agreement”) after conducting and completing its due diligence. Upon the completion of due diligence, at the closing of the acquisition, Flax will be a wholly owned subsidiary of the Company, led by its founder and president, Surya Chowdhury.
SMC also announces the appointment of Mr. Eric Sherb of EMS Consulting Services as its new Chief Financial Officer. SMC thanks its former Chief Financial Officer, Mr. Adam Yang, for his valued service.
“We continue to work on the development and integration of all our legacy platforms into Fyntechnical.com,” Erik Blum CEO stated. “Once completed the Flax Tech platform will enhance our ability to execute our FYNN AI model. I look forward to working with both the Flax Tech team and our new CFO.”
About Flax Tech Ltd.
Flax, a United Kingdom corporation, is a developing Crypto disruptor company and participates in the creation of a disruption platform for research, AI interaction and trading, as well as all associated proprietary technology, relevant IT, and infrastructure to run the platform, all-inclusive in the acquisition. For more information, visit www.flaxbit.com
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, visit www.smceinc.com.
Press Release Contact:
Erik Blum
Chief Executive Officer
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 forward-looking statements or information provided by any 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.
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