SMC Entertainment, Inc. signed a letter of intent to acquire Fyniti Global Equities LLC on February 15, 2023. Fyniti shareholders will receive SMC's preferred stock convertible to common as consideration. On April 18, 2023, SMC Entertainment, Inc. has executed a stock purchase agreement acquiring 100% of the issued and outstanding shares of Fyniti Global Equities EBT Inc. ("Fyniti") for equity. The transaction is valued at $25 million and closing is subject to due diligence by both parties. The Company will issue 2,500,000 unregistered shares of its $10.00 Series B Preferred Stock to Fyniti's stockholders. The closing is anticipated in the next few weeks.

SMC Entertainment, Inc. completed the acquisition of Fyniti Global Equities LLC on April 21, 2023. Pursuant to the closing documents, (i) Fyniti has assigned all intellectual property ("IP"), algorithms, know-how, sales and marketing collateral, and other tangible and intangible assets to the SMC Entertainment, Inc; (ii) Fyniti will operate as a 100% wholly owned subsidiary; (iii) Fyniti will be managed by its founding members. SMC Entertainment, Inc. has issued 2.5 million unregistered shares of its $10.00 Series B Preferred Stock to Fyniti's stockholders.