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The company is currently undergoing work and audit for the Dec 31st 2022 Audit and revised Q1 March 31st 2023, which will allow to update the S1 Filings to regain its Reporting Issuer status from delinquent to current and following that process OTCQB including the responses to the L’Autorite Des Marches Financiers in Quebec, Canada. The company in the interim filed its Dec 31st 2022 Unaudited and more recently Q1 March 31st 2023 FS to remain transparent and current. The company can not forecast a date for the filings but remains confident that this event will be soon behind us as the company made significant strides in the past 2 years to uplist and become a reporting issuer which resulted in the S1 Filing Effective date in Jan 30th 2023 by the US SEC and change to Reporting Issuer status on February 15th 2023.
*The material events impacted the company’s accounts receivables from licensing and the viability of customers projects that were undertaken throughout the prior year which were related to Blockchain, Crypto and Cross-border Tokens. These events did not impact the company’s technology investments and portfolio offerings in Fintech, Paytech and Blockchain Platforms as a Service.
The CEO of SmartCard Marketing Systems Inc (OTCS:SMKG) Massimo Barone stated “The company subsequent to the sector failing events in Banking and Crypto in November of 2022 through April of 2023 which materially impacted financial institutions and Crypto markets caused a series of consequences impacting clients and the company. The company has regained its bearings and after a series of new vendors and financial institution partnerships, the company is once again regaining customer activations and reclaiming receivables that otherwise would have been written off because of the regulatory impact on customer projects in the US and Overseas jurisdictions that followed suit by having a Zero tolerance for Crypto.
*Our operations continued and working with partners in several markets remained favorable despite the downturn in markets. We did benefit from strenghtening some partnerships which struggled with the sector failure and have lined up new market opportunities as layoffs and in some cases complete closures of fintech in several markets that failed.
Furthermore, the sector shakeup by the US SEC in the Crypto and Blockchain sector did allow for the company to position customers projects differently, which has subsequently improved our partnerships in the Banking as a Service sector as more regulatory matters continue to evolve.”
About SmartCard Marketing Systems Inc (OTCQB: SMKG):
SmartCard Marketing Systems Inc (OTC: SMKG) is an industry leader in specialized industry Multi-Tenant E-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets. SMKG is a boutique technology company, providing Business Intelligence, Commerce Strategies and Digital Transformation with a proprietary portfolio of applications and wireframes for Banking, Enterprises and Retail e-Wallets offering Cross-border Payments, Blockchain Protocols, Crypto Issuing, Chatbot AI, NFT Minting, Tokenization, Digital ID-eKYC, Digital Automation Strategies with option for “License to Own” marketplace applications.
For more info visit https://www.smartcardmarketingsystems.com
or visit our business applications marketplace at https://www.emphasispay.com
SmartCard's common stock is currently listed on the OTCQB under the symbol "SMKG". The shares of common stock covered by the registration statement were previously issued by SmartCard and are being registered to fulfil SmartCard's registration rights obligations to certain stockholders.
The registration statement, while effective, permits resale of the securities covered by the registration statement, subject to the satisfaction by the seller of the securities with the prospectus delivery requirements of the Securities Act of 1933.
The offering of the securities covered by the registration statement may only be made by means of a prospectus. The registration statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from SmartCard Marketing Systems, Inc., 20C Trolley Square,Wilmington, DE 19806, or by calling 844-843-7296.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
We seek a safe harbor.
For additional enquiries & Enterprise Program connect with:
Dharmesh Vora
CEO, Massimo Barone
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc.
OTC:SMKG Ph: 1-844-843-7296
news@smartcardmarketingsystems.com
