$SMCE SMC Entertainment Acquires Additional Assets Resulting in Revenue and Tangible Asset Increase
SMC Entertainment, Inc. ("SMC" or the "Company" (OTC: SMCE) and its 100% wholly owned subsidiary Spectrum Entertainment LLC ("Spectrum" , providers of venue-based family-oriented entertainment, are pleased to announce the acquisition of an additional premium ride. The equipment has already been delivered and is in operation; generating revenues in this current season and will be reflected in our third quarter, 2021 financial statements. Supplementally, the equipment will augment SMCs tangible asset line thus further improving SMCs balance sheet.
The equipment featured here is known as the Super Round Up, an amusement ride consisting of a circular horizontal platform with a vertical cage-like wall around the edge. The platform is attached to a motor on a hydraulic arm. The ride starts out by spinning until the centripetal force is enough to push 60 riders against the wall. This purchase was through a distress sale, whereby an asset worth a quarter of a million dollars was acquired for less than $90,000 US dollars.
As mentioned before, our main goals for 2021 are to continue making tangible asset acquisitions, beefing up our balance sheet, said Ron Hughes, President of SMC. Were aiming to increase SMCs net tangible assets over the $2,000,000 threshold to qualify and attain Penny Stock Exempt status designation.
About Spectrum Entertainment LLC
Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit
https://www.otcmarkets.com/stock/SMCE/news/SM...?id=315726
SMC Entertainment, Inc. ("SMC" or the "Company" (OTC: SMCE) and its 100% wholly owned subsidiary Spectrum Entertainment LLC ("Spectrum" , providers of venue-based family-oriented entertainment, are pleased to announce the acquisition of an additional premium ride. The equipment has already been delivered and is in operation; generating revenues in this current season and will be reflected in our third quarter, 2021 financial statements. Supplementally, the equipment will augment SMCs tangible asset line thus further improving SMCs balance sheet.
The equipment featured here is known as the Super Round Up, an amusement ride consisting of a circular horizontal platform with a vertical cage-like wall around the edge. The platform is attached to a motor on a hydraulic arm. The ride starts out by spinning until the centripetal force is enough to push 60 riders against the wall. This purchase was through a distress sale, whereby an asset worth a quarter of a million dollars was acquired for less than $90,000 US dollars.
As mentioned before, our main goals for 2021 are to continue making tangible asset acquisitions, beefing up our balance sheet, said Ron Hughes, President of SMC. Were aiming to increase SMCs net tangible assets over the $2,000,000 threshold to qualify and attain Penny Stock Exempt status designation.
About Spectrum Entertainment LLC
Spectrum Entertainment LLC, thru its marketing brand Spectrum Carnival Midway, has been providing fair ground rides, games, food and fun for the whole family for over 25 years. For more information, visit
https://www.otcmarkets.com/stock/SMCE/news/SM...?id=315726
