and managed to trade approximately 2 million shares for the day.The most astonishing thing about the high trade is the fact that there is no recent news about SMC and the stock jump is hard to be explained. The last announcement about the company dates back to Dec 2, reporting that this month SMC will heat up with MTV premieres, iTunes features and billboard charts. However, no further information on the company was to follow.
Apart from this news, SMC was discussed on investorshub.com, though investors did not have a clue about what’s about to happen with the company. However, something has obviously provoked the climb and it is yet to be revealed.[BANNER]
SMC Recordings Inc. is a Hip Hop label based in San Francisco, CA. Over the past three months, the company used to trade much lower, though this month SMCE stock climbed up significantly.
The most interesting fact about SMC turns out to be the number of attorney letters filed throughout the whole past month. According to otcmarkets.com website, the letters confirm that no one of the company’s Board of Directors “is currently under investigation by any federal or state regulatory authority for any violation of federal or state securities laws”.
The quarterly report of SMC showed that its liabilities are significantly higher than its total assets, the company’s accumulated deficit totals over $3 million and the shareholders’ deficit is higher than $1 million. Due to all the losses and expenses, SMC doesn’t have the sufficient cash to pay its liabilities. The management plans to continue refining its operations and reducing the expenses, however, judging by the financial results SMC might definitely need additional financing.
