SMC announced the retirement of $879,759 combined debt, which will be reflected in Q2 and Q3 of the Company’s 2024 financial statements and disclosures. In alignment with its debt-reduction efforts, officers and management elected to convert $218,500 of their accrued and owed earnings into restricted shares, issued in accordance with Rule 144. • SMC formed a strategic partnership with PCG Advisory and its affiliates for the right to market and resell SMC's AI-powered products and services through its extensive investor network. The collaboration allows PCG Advisory to be in a lead position to drive traffic to the Platform and control the flow of new signups simultaneously. PCG Advisory currently holds an institutional size position in SMC with restricted shares issued in accordance with Rule 144. • SMC entered an Investment Agreement with ProActive Capital in the form of a $35,000 convertible note with a fixed conversion price of $0.002 per share and a term of 12 months. The proceeds will be used for working capital. • On the acquisition front, SMC successfully acquired 100% of Chaintrade’s assets, allowing the Company to expand its offerings with two separate verticals that are currently being integrated into the SMC portfolio of products: ChainTrade.AI, which launched in June 2024 for use in the USA and Chaintrade.Pro for use internationally. • SMC launched its interactive AI research tool, FYNN-AI on the Chaintrade.AI research advisor platform. It is currently available with a 14-day trial with subscriber membership. Management expects this to be a cornerstone component of the Chaintrade.Pro platform. • SMC is also working on the development of the Chaintrade.Pro platform. Once completed, the platform will offer real-time access to all quotes, including crypto, news, analytics, research, its AI Advisor, and commission-free trading for $99. • The Company continues to develop its Fyniti Global Equities EBT Inc. subsidiary, focusing on creating customized personal indexes and leveraging trend investing. The potential market for trend investing and tax loss harvesting through AI/ML-based algorithms as a sector is projected to generate significant fees and presents a strong opportunity for using AI/ML driven portfolio management. • To better reflect its direction, SMC has requested a corporate name and ticker change from SMC Entertainment, Inc. to "Fyntechnical Innovations Inc." and from "SMCE" to "FYNN," respectively. The Company has reserved the name Fyntechnical Innovations Inc. with the Nevada Secretary of State, and the Company has reserved a new domain
name that will host its new website, www.FynTechnical.com. There are no guarantees that change will be approved by the Financial Industry Regulatory Authority (“FINRA”). SMC will provide an update when FINRA responds. • On June 10, 2024, SMC was notified that the SEC had completed the review of the Company’s Form 10-12G. The Company is current in its SEC filings and is a fully reporting filer under the Securities Exchange Act of 1934. • Also in June, SMC announced the cancellation of 250 million shares of its outstanding Common Stock representing a 17% reduction of Outstanding Common Shares and announced it has engaged RBSM, LLP ("RBSM") as its independent registered public auditor for the fiscal year ended December 31, 2024, effective immediately.