San Francisco, CA – November 26, 2019 — – SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), a provider of wireless communications services, digital content and media distribution solutions, released the following shareholder update from SMC’s Chairman and CEO Rick Bjorklund as part of his commitment to continually communicate with shareholders.
Dear Valued Current and Future Shareholders:
SMC’s management team has been working on a number of initiatives to diversify our Company’s business strategies. Unlocking shareholder value remains the cornerstone of our management team goal.
Future Acquisitions. We continue to look for and evaluate complementary acquisitions that fit within our frame of business strategies and growth opportunities. The recently completed acquisition of FiberSKY Networks, Inc. is a prime example of what we see as our growth and diversification strategies.
Additional Management Team Members. The current SMC management team will be the main driver for our anticipated growth. As we acquire additional companies, there could be management team expansion and additional officers and Board members.
Update on Corporate Name and Trading Symbol Change. Per earlier communication, it’s our intention to rebrand SMC from its current name to FIBERSKY CORP., and change our trading symbol. Our securities attorney has responded to the majority of FINRA’s comments and clarification requests. One item remains to be addressed that deals with a historical filing that predates current management’s knowledge. We expect our securities attorney to address this and other items that might arise in the course of FINRA’s review very soon.
Share Capital Structure. According to SMC’s Stock Transfer Agent’s records and as at 11/25/2019, our total outstanding common shares are 346,626,974; total restricted common shares are 223,339,506; total non-restricted common shares are 123,287,468; total Cede & Co (DTC) common shares are 64,329,070; and public float common shares are 75,769,070.
As we come to the closing of 2019, we are proud of the initiatives and decisions we made to build a stronger foundation for our anticipated growth in 2020 and beyond. Our management team and group of companies thrive on the energy of our mission and goals.
Chairman and CEO
About SMC Entertainment, Inc.
SMC Entertainment Inc. is a provider of wireless communications services, digital content, and media distribution solutions. Our multi-discipline revenue approach includes providing media and wireless internet service to under-served markets by acquiring under-capitalized WISPs (Wireless Internet Service Providers). With our recent acquisition of FiberSKY Networks, Inc., FiberSKY’s primarily design concept involves the Digital Dome designs of a hybrid Internet of Things (IoT)-based broadband network system called FiberSKY™. This unique proprietary design is capable of utilizing multiple technologies for the enhancement of deploying the “last mile” of advanced high speed services to residential and commercial customers. The FiberSKY system incorporates multiple technologies such as power lines, fiber optics, licensed and unlicensed wireless frequencies and existing telecom-owned broadband back haul networks to produce an efficient and scalable broadband connection. For more information, please visit us at www.smcemedia.com, and www.fiberskynetworks.com.
SMC Entertainment, Inc.
Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, members of its management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.