When 50 Cent's TMT Promotions company fell through because his partner Floyd Mayweather couldn't come up with his share of the money, 50 decided to go the solo route with a new company, named after his headphone line, SMS Promotions.

ESPN reports that last month 50 applied for a promoter license in Nevada, and his application was approved with a 5-0 vote from the Nevada State Athletic Commission. However, he still has a few more documents to provide, which he plans to do, including,  "two years worth of Jackson's income tax returns, a financial statement listing the fighters SMS has under contract and a letter stating that the assets that had been in TMT's name are now in SMS's name."

He was questioned from the commission about the mishap of TMT, and explained, "as [Floyd Mayweather] came out of incarceration (on Aug. 3 after two months in county jail in Las Vegas) he decided he wanted to do things differently, but I had already invested $1.5 million in acquiring fighters and I would like to move forward."

50 Cent already has a promoter's license in New York.