This is an odd homebrew app by developer crait. This is Smarcylem, a Fisher Price Smart Cycle Physical Learning Arcade System emulator right on your PSP.
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Smarcyclem runs at full speed (most of the time) and only one particular game, Letter Creek, has audio issues. Smarcyclem does not require any BIOS file(s) either.
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More information and install information is in the readme.txt.
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