$SMCE SMC Entertainment Receives Third Cash Paymen
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Posted On: 08/18/2021 12:59:22 PM
$SMCE SMC Entertainment Receives Third Cash Payment for Sale of Asset Total Cash Received to-date $102,000
https://www.otcmarkets.com/stock/SMCE/news/SM...?id=316904
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 receipt of a third cash payment of $20,000 from the sale of its wireless assets comprising of iPTerra Technologies Inc., iPMine software intellectual property, and AktivTrak software intellectual property (collectively the "Wireless Assets" .
On March 30, 2021, SMC announced it sold its Wireless Assets to privately-held Wyoming-based Aktiv-Trak Inc. for $600,000 in cash and stock. Upon execution of the purchase agreement, SMC received first cash payment of $27,000. On June 14, 2021, SMC announced it received second cash payment of $55,000. With todays announcement of a third cash payment of $20,000, total cash amount received to-date is $102,000.
SMC will be releasing its second quarter 2021 financial result in the next few days which marks the first full quarter after the closing of 100% acquisition of Spectrum. As a follow up to second quarter results, SMC is planning to provide operational and shareholder updates.
https://www.otcmarkets.com/stock/SMCE/news/SM...?id=316904
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 receipt of a third cash payment of $20,000 from the sale of its wireless assets comprising of iPTerra Technologies Inc., iPMine software intellectual property, and AktivTrak software intellectual property (collectively the "Wireless Assets" . On March 30, 2021, SMC announced it sold its Wireless Assets to privately-held Wyoming-based Aktiv-Trak Inc. for $600,000 in cash and stock. Upon execution of the purchase agreement, SMC received first cash payment of $27,000. On June 14, 2021, SMC announced it received second cash payment of $55,000. With todays announcement of a third cash payment of $20,000, total cash amount received to-date is $102,000.
SMC will be releasing its second quarter 2021 financial result in the next few days which marks the first full quarter after the closing of 100% acquisition of Spectrum. As a follow up to second quarter results, SMC is planning to provide operational and shareholder updates.
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