UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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ITEM 7.01 - REGULATION FD DISCLOSURE.
SMC Entertainment Announces Cancellation of 250,000,000 Shares Reducing Outstanding Common Shares by 17%
On June 7, 2024, SMC Entertainment, Inc. (the “Company”) issued a press release announcing the Company’s cancellation of 250,000,000 shares of its common stock, representing a 17% reduction in outstanding common shares.
In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in Exhibit 99.1 hereto are deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Exchange Act. The information set forth in Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Safe Harbor
This release may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,” “try,” or future or conditional verbs such as “could,” “may,” “should,” “will,” “would,” or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
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Item 9.01 Exhibits.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| By: | /s/ Erik Blum |
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| Erik Blum, Chief Executive Officer |
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Date: June 11, 2024
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EXHIBIT 99.1
SMC Entertainment Announces Cancellation of 250,000,000 Shares Reducing Outstanding Common Shares by 17%Press Release | 06/07/2024
BOCA RATON, FL / ACCESSWIRE / June 7, 2024 / SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC PINK:SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce that it has completed the cancellation of Two Hundred and Fifty Million (250,000,000) shares of common stock back into treasury. This reduces the share structure by more than 17%. During the course of our audit a discrepancy was discovered detailing that certificates totaling 250 million shares were lost. This has now been rectified.
Erik Blum, CEO of SMC Entertainment Inc, stated, “We have been notified by our Stock Transfer Agent that the necessary documents required for cancellation have been received, processed and that the 250 million common shares have been cancelled. We will continue to work to increase shareholder value as we continue executing on our AI business strategy.”
About SMC: https://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 forward-looking statements or information provided by the 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.
SOURCE: SMC Entertainment, Inc.
Cover |
Jun. 07, 2024 |
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Cover [Abstract] | |
Entity Registrant Name | SMC Entertainment, Inc. |
Entity Central Index Key | 0001497230 |
Document Type | 8-K |
Amendment Flag | false |
Entity Emerging Growth Company | true |
Document Period End Date | Jun. 07, 2024 |
Entity Ex Transition Period | false |
Entity File Number | 000-56558 |
Entity Incorporation State Country Code | NV |
Entity Address Address Line 1 | 9170 Glades Road |
Entity Address Address Line 2 | Suite 150 |
Entity Address City Or Town | Boca Raton |
Entity Address State Or Province | FL |
Entity Address Postal Zip Code | 33434 |
City Area Code | 360 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Local Phone Number | 820-5973 |
Security 12b Title | Common |
Trading Symbol | SMCE |
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