Skip to main content

Market Overview

SMC Sells Remaining Wireless Assets For $0.6M To Focus On Core Business

Share:
  • SMC Entertainment Inc (OTC: SMCEinked an agreement to divest SMC’s last wireless assets to Wyoming’s Aktiv-Trak to focus on venue-based family-oriented entertainment products and services.
  • SMC sold, transferred, and gave all rights and ownership to SMC’s subsidiary iPTerra Technologies, iPMine software intellectual property, and Aktiv-Trak software intellectual property for $0.6 million in cash and Aktiv-Trak shares.
  • Aktiv-Trak will pay SMC a minimum of $250 thousand in cash and the balance in either cash, shares, or a combination of both.
  • SMC has received the first payment of $27 thousand from Aktiv-Trak. The balance will be due over one year unless extended by both SMC and Aktiv-Trak.
  • SMC recently divested its WiMundo Solutions subsidiary. The company also acquired Michigan-based Spectrum Entertainment, LLC for a revenue and balance sheet boost.
  • Price action: SMCE shares closed at $0.0062 on Monday.
 

Related Articles (SMCE)

View Comments and Join the Discussion!

Posted-In: News Penny Stocks Asset Sales Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com