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SMARTCARD MARKETING SYSTEMS INC. (OTC:SMKG) SHAREHOLDERS UPDATE FOR US SEC FILINGS AND TIMELINES.
SMARTCARD MARKETING SYSTEMS INC. (OTC:SMKG) SHAREHOLDERS UPDATE FOR US SEC FILINGS AND TIMELINES..
About this update from Smart Card Marketing Systems, Inc.
[{"type":"text","content":"SMKG CEO MASSIMO BARONE STATED “At this time the company is working to complete the Audit for the Dec 31st, 2022 with BF Borgers CPA PC and will be updating the filed Q1 with the update from any required adjustments to reflect the special report with the 10q. In the interim, the company continues to file its Financial Statements unaudited to remain transparent with OTCMarkets and Shareholders.The company remains delinquent under the US SEC guidelines and will return to a Reporting Issuer upon submitting the Audited filings and Q1 and Q2. The company remains on the Expert Market trading with OTCMarkets until the Audit is filed through Edgar.At this time we can not provide a specific date for the filings as we are in process of collecting responses from partners and vendors required in the Audit process. Our target date period is estimated 30 to 40 calendar days. In the event that we can move up these timelines and update will be provided with precise dates for filings. For the Canadian Stakeholders, the process remains to complete the above process and then comply with the Quebec Securities Commission “L’AMF” as per their request the documents also be filed on Sedar and as per their comment letter to file a revised version under their required specifications for Canadian compliance standards. The company has provisioned for a Canadian CPA to work on the requirements write up and revisions to meet the L’Autorite Des Marches Financiers Comment Letters.Furthermore, the company has been in discussions with a select few Firms to assess and evaluate the Business Valuation for the SMKG entire portfolio and strategy. This is a significant undertaking because of the Scope of our portfolio and will allow the company to demonstrate its underlying value and future potential, which recently under current market conditions is not reflected in its price per common share. This process is critical because it requires preparation and a comprehensive review of our capabilities and platforms offering significant value that we bring to many industries – unlike traditional technology models that focus on One product strategy and channel industry or segment.SmartCard Marketing Systems has been modeled similarly to that of a Tech Fund with the exception that the solutions are proprietary and extend into minority owned interests which further expand...