Bullboard - Stock Discussion Forum Smc Entertainment Inc SMCE

Financial Services Asset Management

SMC Entertainment, Inc. is a holding company focused on the acquisition and supporting commercialized technology (Fintech) companies. The Company's wholly owned subsidiary, Fyniti Global Equities EBT Inc. (Fyniti), is a Fintech developer and provider of technology that combines artificial intelligence/machine learning (AI/ML) driven quantitative investing (IQ Engine) with AI-enabled wealth... see more

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Smc Entertainment Inc > SMCE Receives Third Cash Payment

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Post by AveragePenny on Aug 18, 2021 10:33am

SMCE Receives Third Cash Payment

https://www.otcmarkets.com/stock/SMCE/news/SMC-Entertainment-Receives-Third-Cash-Payment-for-Sale-of-Asset-Total-Cash-Received-to-date-102000?id=316904

On March 30, 2021, SMC announced it sold its Wireless Assets to privately-held Wyoming-based Aktiv-Trak Inc. for $600,000 in cash and stock. Upon execution of the purchase agreement, SMC received first cash payment of $27,000. On June 14, 2021, SMC announced it received second cash payment of $55,000. With todays announcement of a third cash payment of $20,000, total cash amount received to-date is $102,000.

SMC will be releasing its second quarter 2021 financial result in the next few days which marks the first full quarter after the closing of 100% acquisition of Spectrum. As a follow up to second quarter results, SMC is planning to provide operational and shareholder updates.