Fyntechnical Innovations Inc (FYNN): M&A transaction — SMC Entertainment acquires ChainTrade AI trading platform for $8M convertible note

Fyntechnical Innovations Inc

Acquired 100% of ChainTrade's AI-powered trading platform for $8M convertible note at $1/share, 5% interest, 18-month term.
Additional $500K working capital payable in tranches over 18 months; late payments incur 10% penalty and potential platform suspension.
Paul Couture appointed CTO with $7,500/month salary for one year; Bryan Feinberg appointed to Board with $7,500/month consulting fee.
Platform enables trading equities, ETFs, commodities, and indices via personalized AI assistant; ready for commercial launch.
ChainTrade is a UK-licensed fintech joint venture between Plato Data Intelligence and Redmatter.Capital.

item 2.01 item 2.03 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Bryan Feinberg

Director

FYNN · Fyntechnical Innovations Inc

Effective: 2024-06-25
Filed: June 28, 2024, 7:59 PM ET

Also on June 25, 2024, Bryan Feinberg was appointed to our Board of Directors.

Appointed

Paul (Prem) Couture

Chief Technology Officer

FYNN · Fyntechnical Innovations Inc

Effective: 2024-06-25
Filed: June 28, 2024, 7:59 PM ET

Paul (Prem) Couture, CEO of ChainTrade, and Red Matter Capital, was appointed as the Company’s Chief Technology Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Bryan Feinberg was appointed as Director at Fyntechnical Innovations Inc.

Action: appointed
Role: Director

Exact text from the filing

Also on June 25, 2024, Bryan Feinberg was appointed to our Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul (Prem) Couture was appointed as Chief Technology Officer at Fyntechnical Innovations Inc.

Action: appointed
Role: Chief Technology Officer

Exact text from the filing

Paul (Prem) Couture, CEO of ChainTrade, and Red Matter Capital, was appointed as the Company’s Chief Technology Officer.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Fyntechnical Innovations Inc completed an acquisition involving ChainTrade, LTD for $8,000,000 promissory note convertible into common stock at $1 per share plus $500,000 working capital commitment (closed 2024-06-21).

Action: acquisition
Counterparty: ChainTrade, LTD
Consideration: $8,000,000 promissory note convertible into common stock at $1 per share plus $500,000 working capital commitment
Closing: 2024-06-21

Exact text from the filing

strategies and utilizes AI to evaluate assets within a portfolio. Under the terms of the Acquisition Agreement, the Company purchased the ChainTrade Assets in exchange for an $8,000,000 promissory note, with a term of 18 months, and a 5% interest rate. The Note is convertible into shares of the Company’s Common Stock at $1 per share. The Company has also

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27 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Fyntechnical Innovations Inc filing history →

Source: SEC EDGAR

accession 0001654954-24-008315

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