$SMME News! SMC Entertainment Completes Acquisitio
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Posted On: 03/25/2021 11:07:36 AM
$SMME News! SMC Entertainment Completes Acquisition Of Spectrum Entertainment LLC
SMC Entertainment, Inc. ("SMC" or the "Company"
(OTCPINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has completed the 100% acquisition of Michigan-based Spectrum Entertainment, LLC ("Spectrum" for equity. This acquisition significantly strengthens SMC's revenue and balance sheet and will be reflected in SMC's Q2/2021 financial statements.
Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited. https://www.barchart.com/story/news/1363952/s...inment-llc
SMC Entertainment, Inc. ("SMC" or the "Company"
(OTCPINK:SMCE), a provider of products and services for the entertainment industry, digital communications, and content distribution solutions, is pleased to announce that it has completed the 100% acquisition of Michigan-based Spectrum Entertainment, LLC ("Spectrum" for equity. This acquisition significantly strengthens SMC's revenue and balance sheet and will be reflected in SMC's Q2/2021 financial statements. Spectrum specializes in fair ground rides, games, food and fun for the whole family. Spectrum has been in operation for over 25 years. Revenues for fiscal years 2018 and 2019 were $597,153 and $618,204 respectively. Spectrum experienced a significant revenue drop for fiscal year 2020 due to the pandemic but expects a rebound in revenues for fiscal year 2021 as the economy opens up and market conditions improve. As of fiscal year-end 2020, Spectrum's net tangible assets were $1,569,000. All figures are unaudited. https://www.barchart.com/story/news/1363952/s...inment-llc
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