SMC Executes Stock Purchase Agreement to Acquire 100% of AI-enabled Wealth Management Technology Platform, Fyniti Global Equities EBT Inc.

BOCA RATON, FL / ACCESSWIRE / April 18, 2023 / SMC Entertainment, Inc. ("SMC" or the "Company") (OTC PINK:SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, is pleased to announce that it has executed a stock purchase agreement ("Stock Purchase Agreement") acquiring 100% of the issued and outstanding shares of Fyniti Global Equities EBT Inc. ("Fyniti") for equity. The closing is anticipated in the next few weeks.

Fyniti (www.fyniti.com, www.fynitiiq.com) is a Fintech developer and provider of technology that combines Artificial Intelligence/Machine Learning (AI/ML) driven Quantitative investing (IQ Engine) with AI-enabled wealth management Electronic Block Trading ("EBT") technology. EBT is focused on democratizing Basket Trading, Direct Indexing, Tax Loss Harvesting, and bringing Separately Managed Accounts (SMAs) to the upper end of the retail segment as well as the lower to middle market financial institutions. Fyniti's IQ Engine is an AI driven contextual analyzer that creates a repository of all equity research.

Pursuant to the Stock Purchase Agreement:

1. The Company will acquire 100% of the issued and outstanding stock of Fyniti including but not limited to all proprietary technologies, algorithms, trade secrets, and sales and marketing collateral material. Fyniti will operate as a 100% wholly owned subsidiary of the Company.
2. The acquisition is valued at $25 million.
3. the Company will issue 2,500,000 unregistered shares of its $10.00 Series B Preferred Stock (" Preferred Stock" to Fyniti's stockholders.
4. the Company committed to raising up to $2,000,000 to expand Fyniti's sales and marketing programs, implement additional technology features in its AI-enabled products and algorithms, and working capital.
5. The company will provide Fyniti with $250,000 out of the $2,000,000 to be paid on closing. The balance of the $2,000,000 raise will be paid to Fyniti in quarterly installments of $250,000 based on Fyniti's milestone achievements.

Exchange Traded Funds (ETFs) are an $8 trillion dollar market worldwide with over 80% being passive ETFs, which can be replicated through AI/ML-based algorithms. The wealth management platform market is roughly $1.2 trillion worldwide. The EBT market is targeted to generate $6.2 billion in fees and presents a fantastic opportunity for using AI/ML driven portfolio management.