SMC Entertainment Files 8-K for Material Agreement

TL;DR

SMC Entertainment just signed a big deal, filing an 8-K. Watch this space.

AI Summary

SMC Entertainment, Inc. entered into a material definitive agreement on May 30, 2024. The company, incorporated in Nevada, filed an 8-K report detailing this agreement. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant business development for SMC Entertainment, Inc., potentially impacting its operations and financial standing.

Risk Assessment

Risk Level: medium — The filing of a material definitive agreement suggests a significant event, but the lack of specific details about the agreement makes it difficult to assess the immediate risk.

Key Players & Entities

• SMC Entertainment, Inc. (company) — Registrant
• May 30, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 000-56558 (filing_number) — Commission File Number
• 9170 Glades Road, Suite 150, Boca Raton, Florida, 33434 (address) — Address of principal executive offices
• ( 360 ) 820-5973 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $8,000,000 — the ChainTrade Assets in exchange for a $8,000,000 promissory note, with a term of 18 mont
• $1 — shares of the Company's Common Stock at $1 per share. The Company has also committ
• $500,000 — ted to provide total working capital of $500,000, in tranches, over 18 months. Upon the

Filing Documents

• smc_8k.htm (8-K) — 29KB
• smc_ex101.htm (EX-10.1) — 173KB
• smc_ex991.htm (EX-99.1) — 11KB
• smc_ex991img3.jpg (GRAPHIC) — 43KB
• 0001654954-24-007487.txt ( ) — 441KB
• smc-20240530.xsd (EX-101.SCH) — 6KB
• smc-20240530_lab.xml (EX-101.LAB) — 14KB
• smc-20240530_cal.xml (EX-101.CAL) — 1KB
• smc-20240530_pre.xml (EX-101.PRE) — 9KB
• smc-20240530_def.xml (EX-101.DEF) — 2KB
• smc_8k_htm.xml (XML) — 4KB

01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT Acquisition Agreement with ChainTrade, LTD On May 30, 2024, SMC Entertainment, Inc., (the "Company") entered into an Acquisition Agreement (the "Acquisition Agreement") with ChainTrade, LTD ("ChainTrade"), to purchase 100% of the assets of ChainTrade's AI-powered Trading Platform (the "Platform"). Chaintrade , a UK-registered and licensed Fintech company. is a joint Venture between Plato Data Intelligence and Redmatter.Capital and was built to revolutionize trading and investing by leveraging AI's predictive capabilities. The Platform allows users to trade Equities, ETFs, Commodities, and Indices with the support of a personalized AI-powered trading assistant. The Platform, ready for commercial launch, was built to revolutionize trading and investing by leveraging AI's predictive capabilities. This will improve research, risk management and asset allocation. The Platform provides personalized and custom investment strategies and utilizes AI to evaluate assets within a portfolio. Under the terms of the Acquisition Agreement, the Company will purchase the ChainTrade Assets in exchange for a $8,000,000 promissory note, with a term of 18 months, and a 5% interest rate. The Note is convertible into shares of the Company's Common Stock at $1 per share. The Company has also committed to provide total working capital of $500,000, in tranches, over 18 months. Upon the closing, Paul (Prem) Couture, CEO of ChainTrade, will be appointed as the Company's Chief Technology Officer, and ChainTrade may appoint 1 new member to the Company's Board of Directors. The closing of the Acquisition is pending the completion of customary due diligence by both parties, which is expected to be completed within 30 days.

01 - REGULATION FD DISCLOSURE

ITEM 7.01 - REGULATION FD DISCLOSURE. On June [ ], 2024, the Company issued a press release announcing that the Company entered into an Acquisition Agreement with ChainTrade, LTD ("ChainTrade") to purchase 100% of the assets of ChainTrade's AI-powered Trading Platform (the "Platform"). 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 b

01 Exhibits

Item 9.01 Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Acquisition Agreement with ChainTrade, LTD dated May 30, 2024 99.1 Press Reslease dated June [ ], 2024 2

SIGNATURES

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. SMC Entertainment, Inc. By: /s/ Erik Blum Erik Blum, Chief Executive Officer Date: June 7, 2024 4

View Full Filing

View this 8-K filing on SEC EDGAR