SMC Entertainment Disposes Of Second Non-Core Wireless Assets

Provider of products and services for the entertainment industry, SMC Entertainment Inc SMCE, inked an agreement to divest its WiMundo Solutions subsidiary.
SMC would return every asset regarding the WiMundo acquisition to WiMundo's original stakeholders to relinquish the issuance of 20 million shares of SMC.
SMC would issue 3 million new shares to WiMundo consultants. SMC would retain full ownership of Aktiv-Trak intellectual property, marketing material, and all product development.
On Marche 23, SMC announced the completion of the Michigan-based Spectrum Entertainment, LLC acquisition to bolster SMC's revenue and balance sheet. Spectrum reported a material slump in the FY20 due to the pandemic but expected a rebound in FY21 following an economic recovery.
SMC previously divested its FiberSKY Networks, Inc subsidiary.
Price action: SMCE shares are trading higher by 1.69% at $0.006.