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Nope. You're wrong. No SMKY materials were affected by the fire in a storage building and it was in a complete different building than where the oven is housed.
Certainly not a 'material event' which required an 8-K or PR.
As far as disclosure: emails from shareholders were responded to promptly.
I think it is time to stop beating a dead horse...
Hello, JOEPCF.
Not trying to be argumentative, but I think Eddie expected news about financing before, not that he promised news.
Also, the fire was reported by news services, it was only posted on this board by interested parties. Since news services reported it publicly, there is no need for the company to report an event which does not affect SMKY operation.
All The Best
As far as I know, every fire is investigated by trained personnel. Perhaps Webster does not have the qualified personnel which the insurance company would require to cover the amount of loss. Or, since this is a facility which prepares food for the general public to consume, it may fall upon the state to verify the facility is safe and may not contaminate any food products.
I DO think this does affect SMKY investors, as this is the first of 3 potential acquisitions and nothing pertaining to potential acquistions should be ignored.
However, the likelihood of any serious negative impact on SMKY itself is rather minimal, IMO. I find it hilarious if any posts intend to represent the information a subversive manner or are designed to create suspicions of nefarious activity.
All The Best
Thanks for the updates/information, ROBIN. Since some new readers to the board may not read too many posts, it always helps to keep plenty of information available.
All The Best
Personally, I don't think too many "big" things are going to happen with U.S. companies until after the election. I have never remembered more people sitting on more cash in my entire life.
Well, maybe not a big deal, but I got Stockcharts to add BRNE today.
All The Best
Manufacturing is not my expertise, either, but I have enough friends who operate in the manufacturing arena and the cheaper machinery they purchase are in the tens of millions of dollars - although none are in the food processing business.
I am not privy to ANY "secret" or "clandestine" information, but going from my memory of past posts, I believe the initial response from the food processor was some kind of a "management/partial owner" idea. I may not have worded that exactly right, so don't go too far with that. But it seems to go along with Mr. Feintech's management philosophy (sort of like Home Depot was when they started out - I've listened enough times to the founders on Squawk Box in the mornings) of key people accessing a small part of company ownership which will, in turn, be profitable to all and give greater incentive to succeed. I know sometimes an owner gets older to where he doesn't want to mess with all the business any more and wants to see it succeed, perhaps that is some of the case here. It could be that the owner has worked with Eddie for decades and has trust in him like family. A lot of reasons could be true - both good and bad.
As for not viewing the potential acquisitions' books - I am not aware of any company which invites their shareholders to view the books of a potential acquisition; so I don't understand why that keeps becoming a topic...other than the idea that it takes a measure of trust to believe what shareholders are told. That may be the burr in the saddle because very few people earn trust in the business world today. And in the OTC Markets, anything can happen.
No, it is quite obvious that I don't price Mac's - so I was trying to be generous and not paint you to be a tightwad! lol I was unaware if the code-writing, etc. needed a super-duper processor or not.
All The Best
Hello, CBM, and I hope all of you had as good of a Father's Day as I did!
Congratulations on your business and I wish you continued success. These have been tough economic times and anyone who can see business growth deserves kudos. I have been in my business field for 31+ years and IMO things have never been tougher - even including the recession in 1980 - because of the uncertainty which is compounding the economic issues.
A simplistic answer to your question is the fact that SMKY overhead is enormous. Your main product is the result of ideas and mental/technical skill. Your overhead is rolled into payroll and the "machines" (computers) to bring your product to market.
SMKY has the overhead of salaries (whether paying a processor price per piece or lot or purchasing the processor and paying salaries), "raw materials" which have a high base price itself, and their machines are MUCH more expensive than a $8k Mac for each employee. When you add sales, distribution, etc. the overhead is a considerably large multiple than yours.
Thus the need for large financing. Obviously, you could start your business with 1 or 2 people and get one "toe-hold" in the market and begin to add to your business model. SMKY has an enormous overhead just to get one case of product prepared to sell.
To tell you the truth, if the food tasted like crap, I would have made my swing trade and moved on after a month. I think the product is unique and good enough for return business, which makes me interested enough to stick around for a while. Since I rode the train from .06 to .40 and only sold to recoup my investment, I am more confident (not guaranteed at all) that when/if financing is obtained we will go much, much higher.
I agree that by EOY we should see whether the direction of this company is headed toward solid ground or if the business model changes again.
I still think I am at a 3-5 (now 2-4) year hold to see the real potential here. And that is real tough for me because I have been swing-trading for 8 years now and my "method" to which I have become so accustomed is screaming for me to sell and move on.
All The Best
Could SMKY trademarks just possibly not be rolled into Smoky Market Foods because of the unique design of Smoky Market Foods itself located clearly on the website?
Hey, HP, even though I don't post near as much I am constantly watching the board. I feel as though we have exhausted just about all the background we can right now, so I'm just keeping myself occupied while waiting for July 15.
Seriously, with a microscopic float of 10M I think ANYTHING can happen. Just what actually will, remains to be seen.
Yes, it CAN go to a buck still with the right kind of PR/RM but with all this waiting, I think it may only get to around .20 to .25.
It's only a guess, though. A strong company can knock the socks off the pps.
All The Best
I would think that would have to be considered as a possibility. I have not seen the processor's books.
All The Best
What I am looking for is the acquisition of the processor, since it is already profitable. That acquisition alone will bring profit to the bottom line and will also decrease the overhead of Smoky Foods products where they will be more competitively priced.
The taste itself of SMKY products blow away many of their competitors, IMO. Once the product price places the company on an even playing field, all it will take is a good salesforce to penetrate the market and return buyers will be a strong part of the business.
We'll see. I still think it can be done.
All The Best
OUCH! Someone probably just paid more in fees than they did for shares.
Must be GUNDERSTONE backing up his truck! lol
All The Best
Thanks for the link, SPMAN.
I doubt it says much because there are many reasons why a stock is not listed as being available to short. I noticed quite a few I am familiar with that are not on that list, either.
Actually, for longs, it may bode well that there does not seem like there are an availability of shares to short right now.
All The Best
SMKYCEO, thank you for sharing your perspective on this topic - especially since you must have known full well that you would "take a few shots on the chin" for it. The opinion you expressed is strikingly similar to many managers I know or have interviewed, so I was not "shocked" or "awed" when I read your post. Setting the verbiage and syntax aside, I think one reason for such a broad disparity between these two positions is perspective.
Upper management has (or should have) a clear direction of where they are headed with well-defined steps of how they plan to arrive at those objectives; they are driven and highly motivated. Forfeiture/delay of salaries, investing capital in their own companies and a work ethic which almost borders on insanity are often signs that they are supremely confident of future success.
The investor only knows what they have bothered to read (which, amazingly, is often very little) or what has been publicly provided. They have not witnessed the meetings with financiers, read the unsigned documents or interacted with companies which have signed an NDA. They haven't seen what management has seen, so they are incapable of possessing that perspective. Compounding their limited view is also the unfortunate fact that far too many investors are incapable of divorcing emotion from reason and buy or sell on impulse.
The other factor is control. Management has the ability to be active (hopefully pro-active) while shareholders are relatively inactive. They are selling, producing, building, expanding, signing - in charge and creating the momentum and direction of the company.
On the other hand, the average investor often purchases shares with the "dread" that he is no longer in control of his money. It is common knowledge that fear is a stronger motivation than greed in the stock market - it may take one a couple weeks or longer to decide to buy, but that same person may be convinced to sell in less than five minutes.
Perspective and control.
You are driving while we are passengers. Some are so confident in your abilities that they will sleep the entire way and wake up asking, "Where are we? How did we get here?" Others enjoy the sights and/or the fellowship during the trip and occasionally take a peek at a road sign here and there. A few passengers stay in constant contact with you checking that you are still awake, reading a map (old school) to remind you where you have been and tell you where are headed or providing you snacks or coffee. There are always some who are convinced you are lost, worried the vehicle will break down or lamenting the entire trip that you didn't follow the route they are convinced was much better.
In the long run, all that really matters is that we get to the expected destination safely, with as little wear and tear as possible.
Still looking forward to big things here!
All The Best
A lot of good, strong picks are moving well for the WaveRiders.
Way to go, guys. All The Best
I am definitely pulling for SMKY to do well and for the financing to come through. I think it will and I am playing a strong hunch.
However, I will never say "never" in the OTC market.
HANGOVERTRADER, I sure hope you will be right - I'll be thrilled; but I'll be happy at .25 first and then .40 where we were before. I do, however, think that strong financing news may set us up there quickly again.
FARRAGO, Great post earlier. I have taken the position that some dilution is not always a bad thing - in particular situations.
From a blog I wrote a few months ago:
Yeah, you're right. I re-read my post and the Asher note already seems to be accounted for.
Then, I don't know where the rest of the 385k shares went.
Anyway, it's good to know that the float is still miniscule!
All The Best
Unfortunately I am greedy enough at heart to feel the same way. lol
All The Best
http://www.sec.gov/Archives/edgar/data/1421665/000149315212000179/form10q.htm
Thanks for the update on the share structure.
I have a question regarding SMKY and I cannot PM you, but would appreciate a contact: bucks4buckeyes@gmail.com
Thanks & All The Best
I use 3 different brokers and each one does things slightly different. However, it is true that your account is set up (automatically at first) to record profit/loss accrued in a particular manner and that is the way Uncle Sam will tax you. Most sites have a tutorial or knowledge base, I encourage you to study up on it - it will be very important next year when you do your taxes and could make a big difference in what you pay.
It will also determine the manner in which your shares will be sold, the latest purchased first or the earliest purchased first. Big difference - so get it set appropriately before you sell.
For example: say you purchased 10k of SMKY @ .20 then later 10k of SMKY @ .02 and you want to sell a little to take a profit @ .10. If you are set up FIFO (first in, first out) and you sell 5k @ .10, you are going to "make" $500 on a stock which cost you $1,000. If you are set for LIFO (last in, first out) you will make $500 on 5k worth of stock which cost you $100 - so there is a big difference.
All The Best
I guess great minds think alike - lol.
Obviously I am on the outside looking in, so I am unaware of events which may even be unfolding right now. I am purely guessing.
I think the Asher shares are going to be converted no matter what - whether we get an announcement about financing or not. So I am trying to decide now if I will buy many more if pps dips again before/without financing news.
I feel very good about my holdings right now, so I don't really wish for another deep drop. An additional concern would be to see too many more flippers get back in to SMKY which may keep the pps from rebounding as we would like. I am a trader, just not much of a flipper..."Not that there's anything wrong with that..." (I just had to throw in the Seinfeld reference there)
All The Best
I'm not trying to 'muddy up the waters' because I did think the float is small enough that we would move on speculation. I was thinking we would get to around .11 or .12 without any news at all - considering that no one sells a large volume of shares. This seems to be confirmation of that, to me.
Reading Mr. Feintech's posts from the SMKY chat, I am guessing that Asher will convert and not be paid off. I'm just hoping Asher will have to convert during some financing news and the result would be a 'pause' in the pps rather than a drop.
All The Best
Good for you, ROBIN, it's the smart way to go to always take profits. Thanks for the clarification.
All The Best
Absolutely! I remember it well.
Looking forward to seeing it again!
All The Best
Can't argue with you that the Weight Watchers and SYSCO projects did not succeed.
I have to hand it to Mr. Feintech to give the new business plan a shot. It is a much more sound approach. The big question, of course, is when/if funding will be secured.
The main purpose of acquiring funding is to decrease the overhead of the actual product.
I understand people being frustrated right now, but it is unfair, though, to brand SMKY as simply a "stock selling" company. Many of us here have already tasted and enjoy their food products thoroughly.
The float is still extremely small, the A/S have not changed or increased. SMKY uplisted from PK to QB only months ago. These are the kind of problems one will always face when buying shares in a development-stage company becoming a production-stage company. The risk vs. reward ratio is high. I have been willing to 'gamble' on a company with a tremendous product and a CEO AND a CFO who have been basically operating without a salary to get this company going. Survival is a very powerful motivation for this company to succeed.
I may agree with you if these two execs were making money hand over fist while promising the moon. Read the filings, that is not the case here. I'm not claiming that they are paupers - but they will lose MUCH MORE MONEY than I will if they don't succeed.
All The Best
TVCE eligible to trade today.
My shares showed up in my Scottrade account again.
All The Best
MALC, thanks for the kind words. Yes, certainly financials should be VITAL to any investor/trader and a sensible investor should NEVER overlook them.
All you have to do is see what is happening with FB (and much more to come, IMO) to get a lesson on how vital they are!
However, if I thought Zuckerberg had great potential to fix the mobile problem - I would wait for the huge 'dilution' ahead to be completed, watch the pps to go down in 90 to 180 days and then load up.
Same guess for me here with SMKY - in spite of what I read in the 10-Q's & 10-K. (Please, folks, I DO understand that SMKY is NOT FB - just using the analogy - so please save the reprimands.)
Happy Trading & All The Best
Good Weekend! Thanks for the great articles, DoD, and the awesome post, BEACHAM. I don't think you could have worded it any better - especially in the original!
All The Best
Hello all WaveRiders!
Here's a stock some may want to consider. I am invested in it and I have even loaded up a little more recently.
RHWKF - Redhawk Resources, they own an amazingly large amount of copper in Arizona - not a "scam" mine, either.
They are waiting word on their pre-feasibility study (from an authorized, independent investigator) and it looks like their huge find is now 175% LARGER than what was originally indicated.
Personally, I think they are going to be a buyout candidate this year - but at .38 I think it is a fantastic opportunity.
This is a QX STOCK, and also is trading on the TSX in Canada.
I would be very surprised if it doesn't hit the .60's or .70's by the middle of summer. A buyout could bring $1.50 or more.
Check it out. Do what you think.
All The Best
Thanks, friend. Enjoy the rest of your evening.
I appreciate the updated information.
All The Best
I've been invested here for almost an entire year now.
1. I've never told anyone else they should buy.
2. I've never tried to convince anyone not to sell.
3. I've never paid for, participated in, or even wished for an email-marketing campaign or 'awareness campaign' for SMKY.
4. I've never told anyone that SMKY was a sure thing.
5. I've never even considered the thought that Mr. Feintech could walk on water.
I HAVE posted how happy I was as my shares grew in pps over the months.
I HAVE posted and joked around with others on the SMKY board during the 'feel-good' times.
I HAVE expressed concern for a change in the business model - even though this new step can be a game-changer, IMO.
If I find that SMKY does not meet my expectations, I will move on.
Don't know if all this qualifies me as a 'pumper' or not. But I'm glad for every poster on this board - whether I learn good or bad about the company.
All The Best
Hey, SNIZZLE, I still can't find the Form 144 on the SEC website.
Any ideas why?
It can happen. I was getting ready to get into a swing trade on a $30 stock a few years ago and I must have been the lowest bid because I got a partial fill at $3 - someone must have mistyped their sell order. It took me a few minutes before I realized what had actually happened.
Needless to say... that one was a good swing trade for me.
All The Best
Good for you, LOREL. I added considerably in the .02's, but it will still be a couple days before I am actually green.
Still at 2-5 year plan to hold for me. We'll see.
All The Best
Glad to see some fairly decent volume today - for SMKY, anyway.
It's been a few months since we had this volume (if you don't count the "selling days" of this month).
$13k-$15k spent today. Not earthshaking, but not bad, either.
I can only imagine what will happen when REAL volume comes to SMKY. Financing deals and strong acquisitions to increase the bottom line will surely enable SMKY to catch some eyes.
All The Best
It could be...
It definitely was as thin to .0349 as it appeared to be.
All The Best