Home Financial Markets Penny Stocks What Raised SmartCard Marketing Systems (SMKG) More Than 100% On Friday?

What Raised SmartCard Marketing Systems (SMKG) More Than 100% On Friday?

The stock of SmartCard Marketing Systems Inc (OTC: SMKG) closed the weekend session at $0.1735, a gain of 101.74%. While 1.98M shares changed hands during the session, the SMKG stock price ranged from $0.0600 to $0.3300. News of recent updates including financial statements seems to be added towards the SMKG stock price.

What happened?

SmartCard Marketing Systems is a leading provider of e-commerce, cloud, and mobile solutions for the global FinTech and PayTech markets. With a proprietary portfolio of applications and wireframes, SMKG is an entrepreneurial boutique technology company providing business intelligence and digital transformation strategies for banking, enterprises, education, telemedicine, ride-hailing and e-wallet industries that use digital id, blockchain, eKYC, and events management services.

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SmartCard Marketing last week announced that audits of the financial statements have been already in process by the auditors at BF BORGERS CPA PC. This important step is essential for filing in Canada, as it is a requirement to file on SEDAR, the Canadian Securities equivalent of Edgar in the U.S. In addition, SMKG informed that it is finishing up closing the yearly financial statements for DEC 31st 2020 in the U.S.

After completion of the financial results, SMKG will file for compliance with the Pink OTC guidelines on the over-the-counter market and after receiving its approval; it will then apply for OTCQB and follow guidance to file in Canada. SMKG will proceed with the necessary request to the AMF (Autorité des marchés financiers) in Quebec.

CEO Massimo Barone said that SMKG has had to go through a challenging process in obtaining an Auditing Firm, but it was also able to get started early this year, which gave SMKG the chance to prepare for its filings.

Additionally, recent share appreciations have underscored the SmartCard Marketing’s continued efforts to establish itself as a key player in the fintech sector with SMKG’s own suite of proprietary technology enabling digital transformation and sustainability for financial institutions, enterprises, and SMEs globally.

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