SMC Entertainment (OTC: FYNN) is a Nevada-incorporated holding company that acquires and operates fintech businesses, with current operations conducted entirely through its wholly owned subsidiary Fyniti Global Equities EBT Inc. (operating as Fyniti, via fyniti.com and fynitiiq.com). The company was incorporated on January 23, 1998, originally under the name Professional Recovery Systems, Ltd., and has repositioned itself around fintech acquisition and support. SMC acquired Fyniti for $25,000,000, paid via 2,500,000 shares of Series B Preferred Stock at a stated par value of $10.00 per share (as disclosed in the 10-K filed April 15, 2025). The company carries substantial convertible debt, reporting total convertible notes principal outstanding of $688,892 as of December 31, 2024, down from $814,673 as of December 31, 2023, alongside $8,235,617 in convertible notes and accrued interest related to an abandoned acquisition. The auditors have issued a going concern qualification, citing recurring losses since inception and dependence on external financing. No revenue model details or segment financials are disclosed in the available filing excerpts.
Source: SEC 10-K, filed 2025-04-15
Industry: Services-Computer Processing & Data Preparation Peers: Blackstone Inc Firsthand Technology Value Fund Inc GlassBridge Enterprises, Inc. Netcapital Inc
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