SMC Entertainment Inc (OTCMKTS:SMCE) is involved in the niche incubation and is mainly involved in the acquisition and development of companies involved in the financial services and technology spaces.
On Friday, SMCE stock ended flat at $0.0011 with 2.40 million shares, compared to its average volume 11.46 million shares. The stock moved within a range of $0.0010 – 0.0012 after opening trade at $0.0011.
SMC Clarifies Its Letter of Intent to Acquire a Stake in a SEC Registered and FINRA Regulated Broker Dealer
This past Friday the company was actually in the news after it provided key details with regards to the acquisition of a minority stake in a Texas based broker dealer which is registered with FINRA and the United States Securities and Exchange Commission. It was back on February 28 this year that the company had made the announcement that it had inked a letter of intent for the acquisition of a minority stake in the broker dealer.
However, that was not all. The company has been working on another deal as well and back on February 15 it had announced that it had inked a letter of intent with regards to the acquisition of Fyniti Global Equities EBT Inc. Fyniti is an artificial intelligence powered wealth management technology platform provider. In its press release last Friday the company noted that the acquisition of the minority stake in the broker dealer and the acquisition of Fyniti were separate transactions. The two transactions would be subject to separate due diligence procedures and approvals.