- SMC Entertainment (SMCE, Financial) completes audited financials for 2023 and 2024, consolidating technologies under FYNN AI.
- The company successfully cancels $8.36 million in liabilities through a court ruling, influencing its financial outlook.
- Pending FINRA approval, SMC aims to rebrand as Fyntechnical Innovations, Inc., with a ticker change to FYNN.
SMC Entertainment, Inc. (SMCE), a fintech-focused holding company, has marked several pivotal developments in its recent announcement. The company successfully concluded its 2023 and 2024 audits, completed by RBSM, marking a significant milestone in maintaining financial transparency and compliance.
The company has streamlined its technology portfolio by consolidating existing and legacy platforms under FYNN AI, which now supports over 3,000 active free users. This platform offers comprehensive research capabilities on US, Canadian, and Indian equities, Forex, and 57,000 cryptocurrencies, with plans to extend coverage to include Australian and UK securities by June 30, 2025.
A notable legal victory for SMC was achieved in the Nevada court, which ruled in favor of unwinding the Chaintrade acquisition, thus canceling an $8 million promissory note and $358,356.16 in accrued interest. This decision eliminates substantial future liabilities, enhancing SMC's financial health.
In line with strategic rebranding efforts, SMC has filed for a corporate name change to "Fyntechnical Innovations Inc." and a ticker symbol change to "FYNN," which are currently pending FINRA approval. This transition reflects SMC's commitment to evolving its business model, which includes a "razor and razor blade" strategy offering free research through FYNN AI, while driving revenue through trading platform conversions and white-label licensing agreements.
CEO Erik Blum expressed optimism about the company's growth trajectory, emphasizing ongoing efforts to expand the FYNN AI platform's reach and potential, aiming to bolster shareholder value.
