SMC Entertainment, Inc. (OTCPK:SMCE) entered into a letter of intent to acquire Genesis Financial, Inc. for $45 million on November 10, 2021. SMC Entertainment, Inc. executed a definitive share purchase agreement to acquire Genesis Financial, Inc. on November 22, 2021. Pursuant to the terms of the LOI, SMC Entertainment will acquire 100% of the issued and outstanding securities of Genesis Financial for stock. Genesis shareholders will receive SMC's preferred stock convertible to common. Subsequent to acceptance and closing of transaction, management will strategize an additional capitalization plan minimally of $15 million for immediate implementation. The new capital will be allocated for further expansion, acquisitions and working capital. The transaction is expected to close on or before December 10, 2021. SMC Entertainment, Inc. (OTCPK:SMCE) completed the acquisition of Genesis Financial, Inc. on December 10, 2021. Genesis will operate as a subsidiary of SMC. At closing, stockholders of Genesis representing 95.28% of the common stock of Genesis have accepted SMC's offer. It is expected the remaining Genesis stockholders (representing 4.72% of Genesis common stock) will come on board very soon. Post closing, and SMC will issue 20 million warrants exercisable at $1 per warrant with a 3-year exercise period which will be used for operational, capital management and acquisition purposes. Warwick Kerridge, Chairman of Genesis, has been appointed to SMC's Board of Directors. Charles Provini, proposed by Genesis, will join SMC's Board of Directors as an independent director. With the Genesis acquisition, not only will SMC add a substantial revenue to its top line, but will also more than double its shareholder base. Genesis, currently having 23 employees under its purview along with 120 financial consultants, advisors, and representatives, operates its business through two Australian regulated entities in wealth management, tax and accounting advisory services. SMC is now a profitable company earning $1.2 million in Ebitda.