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.