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BBB: Thanks for your postings, very informative. I have no doubt you are a sincere person and the fact that you are a major investor gives me some comfort regarding the viability of SFI. That said, I truly hope that SFI can finally get on the right track because up to now, too much of what has been predicted by Thomas has been way off base. The issue of full reporting is something that needs to be taken care of because this item says a lot about SFI's credibility or I should say lack of credibility.
All the best to you.
I think Mr. T likes "screwing" his investors. He's been doing it for more than a year.
I didn't doubt the PR about the death of the guy in South Africa. What I doubt is previous press releases regarding sales and of course the big question, "where are the first quarter financials"? I want to be positive, but I have not seen any recent news or events that would give me cause for optimism. By the way, I wish Thomas would prove me wrong about my pessimism.
I'll be his biggest fan.
Have any of SFI's press releases actually become reality? I can't think of one. The press relases were carefully worded to say what could be, not what is or will be. Kind of reminds me of the GEICO commercial that says" 15 minutes COULD save you 15% on car insurance." They never say, 15 minutes WILL save you 15% on car insurance. And that's how they catch customers; many people understand "could" as "will".
The word "COULD" is SFI'S favorite word. It gives them an escape valve for their as yet unsubstantiated press releases. And so it is, why should we believe anything that Thomas says? His history is lousy! By the way, I do believe that Thomas has good intentions but as the saying goes, "the road to hell is paved with good intentions". Thomas has been steering SFI on the road to financial hell.
Hey BBB...I hope you're right. SFI shareholders have
been suffering a lot since the lofty days of May 2009.
I am sure that SFI management is struggling to find what type of "spin" they'll put on their next press release. I think that many of us are resigned to the fact the first quarter financials will suck, BIG TIME. So I'd like to know the following:
Are there any sales at all yet? I mean real sales, the type that means cash in the bank or a healthy balance in trade receivables.
I am tired of the same old hype that's been spinning around for more than a year. SFI has a major problem with its credibility and they're not doing anything to improve this area. On the contrary, each day that passes the credibility gets worse. If we compare the pps chart using a base price of 25 cents, SFI has lost 96% of its market value. In my book, they've also lost 96% of their credibility.
BBB: I appreciate your sincerity and forthrightness. Despite my criticisms, I do want SFI to succeed but the last six months have been very frustrating. Thanks for your response.
BBB: I think it's commendable that you support SFI and management. I do want the company to do well but I just
haven't seen any evidence that the current management has
the experience and "know-how" to get the job done. And
perhaps some of us, including myself, are too hard on the
company and management. But I feel that there should be some
accountability on the part of management to the shareholders
and so far there has been a lot of hype and "false hope" press
releases that have yielded a share price that is barely above
one cent. From your side, don't you think that you should
hold Mr. T's hand to the fire a bit? Maybe he'll start
taking some action that will reverse the downward trend that
has existed for at least six months.
What's scary is that SFI management is so dumb they can't figure out if they have any revenue. Please! And they made a mistake on a report to the SEC? God help us all! One more thing, the previous financials have been terrible. By GAAP standards they are extremely defficient. SFI is more interested in deceiving the investing public than in releasing financial reports that conform to Generally Accepted Accounting Standards. In one more week and this stock will be below one cent. Another MMUH?
I think that history has shown that Mr. T's words are meaningless. So a call to Mr. T will give you nice words but no action. There is only one reasonable answer as to why the RR is not being released. The info sucks! I actually think SFI is waiting to publish a PR with some positive news in order to offset the lousy RR.
Fink: I think you're the most sensical poster on this board. You have a well balanced approach. I know that I take a strong position against SFI management but one of my objectives is to see if I can prod them enough to make some improvements, for example financial reporting. I no longer have any illusions about SFI. If nothing else I can take a write off for tax purposes.
I keep saying that SFI management is incompetent. What better evidence than the fact that it's been 46 days since quarter end and still no financials and, the stock continues it's downward spiral. Mr T has ZERO experience in running a public company and it shows. But he IS a good promoter...he has legions believing his every word. Perhaps SFI is not releasing the financials because they're so bad they don't want anyone to see them?
I love it when one person gets so much attention. I must have hit on a sore subject...the truth.
No sales
No profits
No financials
No credibility
Am I wrong? If I am then show me. I'm from Missouri.
I'm also right. I'm here to inform the uneducated. The SFI "lovers" should challenge management to improve SFI,
not just accept everything that Thomas says as gospel.
This company will not go anywhere with such incompetent
management.
IMO: SFI cannot get a contract with AAFES or with NEX because SFI does not have the financial resources required by the exchange services. So as much as Mr T is in discussions with the military, a finalized contract will not happen.
Regarding the financials, SFI does not report to the SEC. They report to PINKSHEETS. If SFI kept up with the accounting on a regular basis, they would be able to publish financials within 15 days after the reporting quarter. But even when they report, the financial information is awful. They only show an operating statement and a balance sheet. They don't show a Statement of Cash Flows, they don't show a Statement of Stockholders Equity and they don't show notes to the financial statements. It's a joke! It appears that SFI loves to promote but they don't know how to operate a company. If SFI would install new management that has experience with a public company, the pps would jump up. Thomas should be moved to the position of Chief Marketing Officer and let someone else take over as CEO.
Good for you! In the case of TD and SFI, we have a good example of the blind leading the blind. Had a great day today with ACLH (600%) increase. Bought and sold within 4 hours. My investment in SFI has been a disaster. But then again the management is a disaster so why should I expect any different? Moe, Larry and Curly would be a better management team.
This company is dying. I heard that Nashville is underwater, well so is SFI. What's really unusual that no matter what the company does to prop up the pps, to share price only goes down. (There are some rare exceptions when it goes up.)
I think that management is incompetent and full of BS. Where are the financials? Where are the sales? Why can't SFI actually accomplish ONE thing that they said they were going to do.
Now, now TD, I didn't want to bring the conversation down to your level but you keep on insisting. Your tone and name calling tells me that you're not the sharpest pencil in the box. Did you finish high school? Your love for SFI is touching. Brings tears to my eyes.
Here it is:
Has SFI reported any sales? NO
Has SFI reported any profits? NO
How about cash? The last financial statements show less than $10K in cash. And recently there was a press release about a $420K line of credit. Yet a previous press release predicted sales of more than $9 million in the BENELUX countries alone. SFI will need much more than $420k to pay for the distribution costs related to $9 million in sales. So I predict that the first quarter financials will show some cash but certainly not enough to justify the sales that have been previously predicted.
Has SFI published the financials? NO
Any new, positive information about sales and distribution? NO
Has SFI achieved ANY of the previously announced goals? NO. Where is the credibility?
Has SFI released the first quarter financials? NO.
Spirit, you obviously disagree. Give us, or better yet, have SFI give us some good news. And comments about the smoking habits of submariners does not count as good news. If SFI thinks that mariners constitute a significant market segment, that's depressing news. What happened to sales in South America, Australia, New Zealand or anywhere else for that matter? In business, as a general rule, no news is bad news and SFI has not had any news about sales.
You see, the stock continues on its downward spiral. This company is run by incompetent management and they have no cash to bring the product to market. This is reality, not bashing.
It's interesting that all the blue-skyers" who have nothing substantial to contribute, resort to name-calling. Where are your facts regarding anything positive about this company? This is the company of "NO"; no sales, no profits, no cash, no financials, no credibility. In the past 6 months SFI has not shown any improvement anywhere and the pps only reflects the lack of confidence in this company and its management. If there was a glimmer of positive news, the stock would start going up.
The reality is that SFI has been deceptive. Perhaps not on purpose, but the result is the same. They do not do what they say they're going to do and they are way behind on getting the product in the hands of consumers. We have seen press releases that there would be sales in the fourth quarter 2009; then it was first quarter 2010. To this date there are ZERO sales and of course we don't see an press releases about when sales are actually going to happen. The reason why is that not even Mr T knows when SFI can report sales. There are posters on this board that are blindly loyal so my guess is that they are strongly associated with the company and not just as shareholders. By the way, have you noticed how much the activity has dropped on this message board?
I believe that SFI has good intentions but remember the phrase: "the road to hell is paved with good intentions". The previous press releases from SFI have proven to be very misleading. Earlier this year, SFI was issuing on the average two press releases per week. Now they're down to one every two weeks. Not a good sign. Regarding the first quarter financials, it's important for all interested shareholders to look and analyze these carefully. As I've said before, I'm not expecting the financials to reveal any positive news.
Spirit: MIG is expressing an opinion. You may not agree with
him but free speech is protected by the Constitution. He certatainly has not posted anything that could remotely be considered libelous. Besides, I think that MIG makes a good point: perhaps SFI needs a change of CEO. I have no doubt that if SFI had a CEO with public company experience or tobacco company experience, the pps would jump up 200-300% in one day.
Regarding the forthcoming financial results, I have already prepared myself for bad news. In the business of pinksheet stocks, no news is bad news.
Thanks TD. I'm hoping that the pps will go up to a range between 5-10 cents. The most puzzling thing about the share price is why, with the volume that SFI generates every day, the pps has such difficulty breaking out of the .017 to .020 range. It is a mystery that can't be explained by merely saying that the stock is being shorted. Keep in mind that about a year ago with hardly any informtion about SFI and the product, the pps was .20 to .25.
TD, I note that your written english is weak which leads me to believe you are not a native speaker. Since you are in touch with Mr. T on a regular basis, can you tell us when SFI is going to report any sales? When will the first quarter financials be published?
AAK, I think you have a "balanced" view of SFI. I want to be optimistic but I have not seen anything recently that gives me
reason for optimism. There are too many "things" headed in the wrong direction. I am especially troubled by the fact that there are still no sales. If there were ACCOUNTABLE sales, I'm sure that Mr T would have announced it by now. And as you quite rightly point out, with all the press releases you would think that there would have been some upward movement by now. But there's nothing. I again say we're all working under the caption, "hope and prayer".
You're probably right TD. Sometimes I get a little
impatient regarding the share price and I would like
to see management be more responsive regarding this matter.
On the other hand, I don't know that they can do much too
about it. This is after all the biggest casino in
the world.
TD, it seems clear you are not familiar with accounting and information reporting systems. SFI is a small company and if they kept up with their accounting on a regular basis like they should be doing, the financial statements could easily be issued within 10 days after the end of the reporting period. The fact that financial statements are not being published within a reasonable time is an indication that they are not organized.
I can't believe how many naive posters we have on this site. SFI's financials will suck and there's going to be little or ZERO sales. Remember you saw it here first. Why can huge corporations report financial statements 15 days after the quarter end and it takes SFI 30 days or more? Smokefree is living on hope and prayer.
You are absolutely right Raptor. Which is why SFI shareholders should be challenging Mr. T to tell us why he cannot report about any P.O.'s that the company has received from the distributors. There is a lack of information about sales which should concern all of us. Remember the old Wendy's commercials, "where's the beef?"
What is Reg D?
Regulation D (or Reg D) contains the rules providing exemptions from the registration requirements, allowing some companies to offer and sell their securities without having to register the securities with the SEC.[1] A Regulation D offering is intended to make access to the capital markets possible for small companies that could not otherwise bear the costs of a normal SEC registration. The regulation is found under Title 17 of the Code of Federal Regulations, part 230, Sections 501 through 508. The legal citation is 17 C.F.R. §230.501.
SFI is attempting to raise money in order to finance the working capital of the company. IMO $400K is peanuts and they need to raise a lot more money in order to finance the product distribution, sometimes referred to as "execution costs". SFI is in a situation in which 90% of start-ups fail and that is lack of capital. And of course, they still have not made the first sale.
AAK, I am pleasantly surprised by your wisdom. I see you have exeperience in these matters. A small company like SFI should be able to have the financials ready within 10 days after the month end. It's not rocket science. The fact that they don't have the numbers ready tells me that they're not well organized.
Either way the result is the same and it's not good.
I am almost sure SFIO will not report ANY sales. SFI press releases are full of expectation and very little reality. PPS continues to go down and until SFI reports some ACTUAL sales, as opposed to Mr. T's dreams, share price will continue the downward trend. IMO Mr. T has been a lousy CEO.
Lets hope for the best and prepare for the worst. I don't believe that SFI will report any sales for the first quarter. Hope something happens soon regarding sales. This is taking way too long.
Reality check: SFI does have a product and has been distributing as product samples. However they probably don't have the money to produce the product in sufficient quantities for retail distribution. Therefore you will have some people that say they tried the product (free sample) but nobody can say where the product was purchased. Conclusion: the product is not yet being sold anywhere.
According to press releases, you may be able to buy it on the USS LOS ANGELES soon.
My predictions for first quarter results: SFI will not show ANY sales and of course will be heavily in debt. The company is not making any progress towards becoming "full reporting". This stock is going nowhere.
With such good volume why don't we see an improvement in pps? Instead it trickles down every day.
Good news, Smokefree has a product. Bad news, it's not yet available for sale anywhere in this planet. Maybe, just maybe, it could be available for purchase during the 2d quarter of 2010.
I don't think anyone ever said that there was no product. The question is "where can one buy the product" and that question has never been answered. So one more time: where, anywhere in the world, can anyone buy the product? What good is it if the product is available and nobody can buy it?