AITE

SMC/Genesis Posts Second Quarter 2022 Financial Statements Six Months 2022 Revenues of $10.7 Million and Gross Profit of $2.2 Million

Retrieved on: 
Tuesday, August 23, 2022

We continue to execute our business plan on a number of fronts that will include acquisitions in Australia and the United States.

Key Points: 
  • We continue to execute our business plan on a number of fronts that will include acquisitions in Australia and the United States.
  • The Company is working diligently to complete its audited financial statements for fiscal years 2020 and 2021.
  • According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors.
  • SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies.

SMC/Genesis Financial Converts $1.7 Million in Debt Holdings Into $2.5 million in Equity

Retrieved on: 
Thursday, February 17, 2022

The Company had been awaiting confirmation of an executed agreement to swap $1.7 million of debt on Genesis books receiving $2.5 million in equity in another major Fintech entity/disruptor currently (in its quiet period) a midst filing its S-1.

Key Points: 
  • The Company had been awaiting confirmation of an executed agreement to swap $1.7 million of debt on Genesis books receiving $2.5 million in equity in another major Fintech entity/disruptor currently (in its quiet period) a midst filing its S-1.
  • Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions.
  • According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors.
  • SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies.

Former Goldman Sachs Senior Investment Banker Joins the Board of SMC/Genesis Financial as Independent Director.

Retrieved on: 
Monday, February 14, 2022

Ms. McQueen is an acknowledged senior investment banker with over 10 years of global equity sales and research experience in top investment banks such as Goldman Sachs and Credit Suisse.

Key Points: 
  • Ms. McQueen is an acknowledged senior investment banker with over 10 years of global equity sales and research experience in top investment banks such as Goldman Sachs and Credit Suisse.
  • In 2010, Ms. McQueen started working at Amazon.com INC headquarters in Seattle serving as a senior financial analyst providing financial analysis and oversight for Amazon's financial operations.
  • Quoting Ms. McQueen I am extremely excited to join theSMC/Genesis Financialas an Independent Director.
  • I look forward to helping the company execute inthe near future
    I am honored and look forward to having Sachie join our Board.

SMC Genesis Financial Enters into New Australian Joint Venture

Retrieved on: 
Thursday, February 10, 2022

The Company has finalized its accountants practice and development Joint Venture with Best Practice Accounting Group, BPAG.

Key Points: 
  • The Company has finalized its accountants practice and development Joint Venture with Best Practice Accounting Group, BPAG.
  • The new joint venture will assist Australian Accountants and Financial Advisers to create a bespoke one-on one platform throughout Australia.
  • Genesis, with twenty-three employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions.
  • SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies.

SMC/Genesis Financial Announces Completion of 2019 and 2020 PCAOB Audits in preparation for S-1 Registration Filing

Retrieved on: 
Wednesday, February 9, 2022

The Company has commenced on fiscal year 2021 financial statement audit and expects to complete it very shortly.

Key Points: 
  • The Company has commenced on fiscal year 2021 financial statement audit and expects to complete it very shortly.
  • Completing the Companys PCAOB financial audit is a critical and major milestone that ensures the timely filing of the Companys S-1 Registration statement with the SEC to attain reporting issuer status.
  • Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions.
  • According to AITE (2020) at least 10 million adults are underserved or not served at all by the Australian Financial Advisors.

SMC Genesis Financial shareholder update on USA Expansion seeking to acquire Broker-Dealer and RIA business

Retrieved on: 
Monday, February 7, 2022

Charleston, SC, Feb. 07, 2022 (GLOBE NEWSWIRE) -- SMCE and its wholly owned subsidiary Genesis Financial are activity seeking acquisition opportunities within the USA.

Key Points: 
  • Charleston, SC, Feb. 07, 2022 (GLOBE NEWSWIRE) -- SMCE and its wholly owned subsidiary Genesis Financial are activity seeking acquisition opportunities within the USA.
  • Erik Blum President of SMCE stated Distribution is core to the expansion of our USA business and has been our immediate focus.
  • The correlation between funds under management and expansion of growth is a key advantage when commencing a fund management business.
  • SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies.

SMC/Genesis Financial, Provider of Integrated Digital Financial Services, Completes $2.0 Million Institutional Bridge Financing $1.5 Million through AD Asset Management LTD

Retrieved on: 
Thursday, February 3, 2022

Both the International Asset Management Fund and the boutique hedge fund group specialize in FinTech development globally.

Key Points: 
  • Both the International Asset Management Fund and the boutique hedge fund group specialize in FinTech development globally.
  • The Company has received the first tranche of the Bridge Financing and working towards its milestones in the coming weeks.
  • Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions.
  • Genesis, focusing on fintech-powered wealth management services, operated its business through two Australian regulated entities in wealth management, tax and accounting advisory services.

SMC/Genesis Financial, Announces Retirement of an additional 40,000,000 Shares from Outstanding Common Shares Provides Audit Update

Retrieved on: 
Monday, January 31, 2022

Fiscal year 2020 financial audit will commence immediately and will be completed shortly.

Key Points: 
  • Fiscal year 2020 financial audit will commence immediately and will be completed shortly.
  • The Companys management team and board of directors have decided to audit fiscal year 2021 in anticipation of consolidating balance sheets and becoming a fully reporting company.
  • This share cancellation announcement is part of those initiatives, and the Company is incredibly pleased to deliver on those initiatives.
  • In addition, the Company has submitted to its stock transfer agent another block of shares to be cancelled.

SMC and Genesis Financial, a Fintech Provider of Integrated Digital Financial Services, Provides Fiscal 2021 Recap and Guidance for Fiscal 2022

Retrieved on: 
Thursday, January 6, 2022

At closing, 56 stockholders of Genesis representing 95.28% of the common stock of Genesis have accepted SMCs offer.

Key Points: 
  • At closing, 56 stockholders of Genesis representing 95.28% of the common stock of Genesis have accepted SMCs offer.
  • It is expected the remaining Genesis stockholders (representing 4.72% of Genesis common stock) will come on board very soon.
  • Genesis, with 23 employees under its purview along with 120 financial consultants, advisors, and representatives, is a fully integrated financial technology company with a full suite of digital financial services solutions.
  • SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (fintech) companies.