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SMKY Financing Update:
http://ih.advfn.com/p.php?pid=nmona&article=54707351&symbol=SMKY
Yeah, its getting closer bro, with the strong efforts Eddie has been doing behind the scenes to get financing I seriously expect to see it happening before year' end. In fact he could have done it on several occasions, but as outlined in this Pr these types of funding would be detrimental to the OS & commons, and it speaks for Eddie' prudent way of approaching this by waiting for more favorable options. Many OTC CEO's would have jumped on any financing offer yet Eddie has the patience and insights to wait for better options...
Smoky Market Foods Releases Status Update, Qualifications to Plans for Financing
WEBSTER CITY, IA -- (Marketwire) -- 10/26/12 -- Smoky Market Foods, Inc. (OTCQB: SMKY) released today an updated report on the status of its operations since announcing the recruitment of two retail executives in early September. The released report highlighted certain qualifications to the Company's plan for financing and included other pertinent information relative to product distribution and capital structure in anticipation of its forthcoming third quarter 10Q filing. Said Eddie Feintech, Chairman, President/CEO of the Company, "We have a broad and growing shareholder base, and many new investor eyes viewing SMKY so updated, accurate news on our status is important to provide."
Upon releasing the update report, Mr. Feintech stated that "the company's management team had been focused on one specific objective since our September news release, which was to position SMKY to receive qualified financing by establishing confirmed channels for distribution and providing such warranties to investors. That objective has been achieved and continues to be enhanced while we pursue financing, and now includes some of the largest grocery chains in the country to stock SMKY product in 2013. We have a compelling story to investors who know the food business and we've mitigated risk."
Mr. Feintech continued with statements relative to updated information released in the report:
"SMKY's unique product quality, the mainstream market demand for such cuisine, and the expert brand management talent of our new retail execs are believed to be foregone conclusions, so SMKY viability becomes merely a function of adequate capital. However, such capital must be received in a manner compatible with prudent financial structuring to avoid future cash flow deficiency from debt repayment and serious risk to shareholders. There is definitely traditional interest-bearing, convertible debt financing available to us at two and three-year terms from institutional funding, which is high risk and very dilutive. Consequently, we have qualified our financing plan to accept only equity capital to fund our initial market launch either from our Preferred Stock offering or bulk common stock purchase, both of which investment vehicles are structured to result in Win-Win financing for investors and existing shareholders. While the institutional market offers us the typical shorter term PIPE debt financing as described, our branding and franchise story is enticing to private wealth investors that seek high return equity play. We'll use qualified convertible and secured debt facilities as an enhancement to equity capital and it's very well worth the wait to do this right.
"Interim financing remains a critical requirement and our very basic expenses to cover filings and certain minimal operating and administrative costs continue to be defrayed through occasional sales of restricted stock and small convertible loans from time to time. To date, SMKY's free-trading float is about 48 million shares, with about 22 million of such shares remaining in certificate form and not trading in the market. Total outstanding shares to date are about 113 million. Further, it is my belief that a substantial number of the share float in the market is held by shareholders seeking relatively long-term gain so the conversion of short term debt offers a manner to increase float for future liquidity need from good and consistent daily volume. It's important to remember, SMKY management and affiliates hold over 40% of equity so all form of financing is closely watched and evaluated for prudence."
Mr. Feintech concluded the update release by stating, "We're now showing large private investors that their money will put SMKY product into supermarkets and club stores, and that total financing which includes acquisition capital should produce rapidly scalable revenue that gets SMKY profitable and self-capitalizing. It's not rocket science, just an incredibly good and healthful product that fulfills a niche market demand, and can generate substantial market equity appreciation as a result of success. I believe we'll receive all the financing we require and it's looking good for yet this year."
ABOUT SMOKY MARKET FOODS
Smoky Market Foods, Inc. uses proprietary, custom-engineered, USDA-approved wood-burning oven technology to produce a complete line of fully-cooked Smoke-Baked™ meat and fish, and special recipe dishes. From a 15-acre food production campus located in central Iowa, the Company produces its smoked foods for multiple channels of foodservice and retail grocery distribution principally under the Smoky Market brand. Additionally, the Company intends to produce certified kosher smoked foods and to distribute this line of products under the "Smoky Kosher" brand through the same marketing channels. Using its mass production technique, the Company plans to develop a national chain of fast-casual barbecue restaurants under the name "BarBQ Diner" that would operate without having to handle and cook raw product on site.
FORWARD-LOOKING STATEMENTS
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: our limited operating history, need for future capital and need to enter into relationships with retailers for retail merchandising business, supply and distribution risks, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company's periodic reports, including the company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
SMOKY MARKET FOODS, INC.
Investor Relations
P.O. Box 2864
Aptos, CA 95001
831-457-7719
buysmoked@smokymarket.com
Source: Marketwire (October 26, 2012 - 9:30 AM EDT)
News by QuoteMedia
Smoky Market Foods Releases Status Update, Qualifications to Plans for Financing
WEBSTER CITY, IA -- (Marketwire) -- 10/26/12 -- Smoky Market Foods, Inc. (OTCQB: SMKY) released today an updated report on the status of its operations since announcing the recruitment of two retail executives in early September. The released report highlighted certain qualifications to the Company's plan for financing and included other pertinent information relative to product distribution and capital structure in anticipation of its forthcoming third quarter 10Q filing. Said Eddie Feintech, Chairman, President/CEO of the Company, "We have a broad and growing shareholder base, and many new investor eyes viewing SMKY so updated, accurate news on our status is important to provide."
Upon releasing the update report, Mr. Feintech stated that "the company's management team had been focused on one specific objective since our September news release, which was to position SMKY to receive qualified financing by establishing confirmed channels for distribution and providing such warranties to investors. That objective has been achieved and continues to be enhanced while we pursue financing, and now includes some of the largest grocery chains in the country to stock SMKY product in 2013. We have a compelling story to investors who know the food business and we've mitigated risk."
Mr. Feintech continued with statements relative to updated information released in the report:
"SMKY's unique product quality, the mainstream market demand for such cuisine, and the expert brand management talent of our new retail execs are believed to be foregone conclusions, so SMKY viability becomes merely a function of adequate capital. However, such capital must be received in a manner compatible with prudent financial structuring to avoid future cash flow deficiency from debt repayment and serious risk to shareholders. There is definitely traditional interest-bearing, convertible debt financing available to us at two and three-year terms from institutional funding, which is high risk and very dilutive. Consequently, we have qualified our financing plan to accept only equity capital to fund our initial market launch either from our Preferred Stock offering or bulk common stock purchase, both of which investment vehicles are structured to result in Win-Win financing for investors and existing shareholders. While the institutional market offers us the typical shorter term PIPE debt financing as described, our branding and franchise story is enticing to private wealth investors that seek high return equity play. We'll use qualified convertible and secured debt facilities as an enhancement to equity capital and it's very well worth the wait to do this right.
"Interim financing remains a critical requirement and our very basic expenses to cover filings and certain minimal operating and administrative costs continue to be defrayed through occasional sales of restricted stock and small convertible loans from time to time. To date, SMKY's free-trading float is about 48 million shares, with about 22 million of such shares remaining in certificate form and not trading in the market. Total outstanding shares to date are about 113 million. Further, it is my belief that a substantial number of the share float in the market is held by shareholders seeking relatively long-term gain so the conversion of short term debt offers a manner to increase float for future liquidity need from good and consistent daily volume. It's important to remember, SMKY management and affiliates hold over 40% of equity so all form of financing is closely watched and evaluated for prudence."
Mr. Feintech concluded the update release by stating, "We're now showing large private investors that their money will put SMKY product into supermarkets and club stores, and that total financing which includes acquisition capital should produce rapidly scalable revenue that gets SMKY profitable and self-capitalizing. It's not rocket science, just an incredibly good and healthful product that fulfills a niche market demand, and can generate substantial market equity appreciation as a result of success. I believe we'll receive all the financing we require and it's looking good for yet this year."
ABOUT SMOKY MARKET FOODS
Smoky Market Foods, Inc. uses proprietary, custom-engineered, USDA-approved wood-burning oven technology to produce a complete line of fully-cooked Smoke-Baked™ meat and fish, and special recipe dishes. From a 15-acre food production campus located in central Iowa, the Company produces its smoked foods for multiple channels of foodservice and retail grocery distribution principally under the Smoky Market brand. Additionally, the Company intends to produce certified kosher smoked foods and to distribute this line of products under the "Smoky Kosher" brand through the same marketing channels. Using its mass production technique, the Company plans to develop a national chain of fast-casual barbecue restaurants under the name "BarBQ Diner" that would operate without having to handle and cook raw product on site.
FORWARD-LOOKING STATEMENTS
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: our limited operating history, need for future capital and need to enter into relationships with retailers for retail merchandising business, supply and distribution risks, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company's periodic reports, including the company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
SMOKY MARKET FOODS, INC.
Investor Relations
P.O. Box 2864
Aptos, CA 95001
831-457-7719
buysmoked@smokymarket.com
Source: Marketwire (October 26, 2012 - 9:30 AM EDT)
News by QuoteMedia
LOL one of the biggest acquisitions I've seen was announced on a Friday, so yeah it must be really bad ROTFLMAO
Thanks for the update & efforts bro, much appreciated!
LMFAO OTC Markets does show something else
http://www.otcmarkets.com/stock/WAFR/short-sales
Not much shorted shares tho but its hilarious to deny that there is no shorting going on ... Too funny!
LMFAO Who cares about a revocation many years later when the assets were sold long before that and all parties involved made profits!
ROTFL Indeed, the tech has been proven on multiple occasions... and those companies you mention could be the first the bid for it
Yep, MSE/GTGP is gonna provide services to the entire planet and I even heard that they're planning a mission to the planet Mercury for ... uhh .... Mercury removal with a rocket called the MBS1 LMAO
Each employee is assigned with several projects, not hard to figure this one out LOL
LOL by the 25th includes the 25th... sheesh
Don't worry Miss Peggy the info will be updated today!
Yeah, the trail of fraud and deceit against GTGP is becoming very slippery... & in the end very juicy too
I've seen lots of acquisitions in the OTC Market and not one went thru on the first portrayed timeline, so it is very common for delays to happen. The most important thing is that the deal goes thru! Which should be tomorrow
LMAO @
Ever heard of a Transfer Agent? They know! And the good thing about GTGP's TA, he isn't gagged like with real scammy companies!
"assumptions" about ownership is the right term, not "proof"!
Only 3 months or so ago we were at 0.12 & we had a nice run on potential. Now that potential is ready to be fulfilled besides cheaper than 'cheapies' were acquired already... The rest will buy tomorrow & beyond
LOL 0.15 is still 500% higher than the 3 year low
That is not real DD, just a list of twisted opinions!
LOL First of all, these are FALSE allegations & any security lawyer or SEC attorney will see this right away!
Nowhere in the Pr regarding this deal has GTGP announced to have received cash!
This may be the case with real junk stocks, but not with GTGP!
In a few months time the company will receive a No Action letter, and then GTGP can initiate a return to a higher tier/exchange. Note that GTGP will be current in all its filings by then + the MSE Deal + major contracts and licenses etc etc etc, so it won't be so difficult to get a MM to quote GTGP again. It has happen before with lesser companies so for a strong company in the making like GTGP it won't be so hard to complete the 15c2-11 process...
So any comparison with real junk stocks, and what their pattern was on the Grey's doesn't imply that this will be the same with GTGP...
The most worthless DD collection ever posted on this board!!
LMAO ... No Action letter from the SEC is coming!!
LOL First of all, these are FALSE allegations & any security lawyer or SEC attorney will see this right away!
Nowhere in the Pr regarding this deal has GTGP announced to have received cash!
GTGP should release the very important MSE Deal tomorrow!
GTGP should release the very important MSE Deal tomorrow!
LMAO Nothing is "fraudulent" with the fins, licenses in those links, except for the added twists & fabrications itself!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80721914
I never lost faith Lindy, GTGP will prove to be a legitimate company and once the news is out the volume will come, no doubt about that. In fact I'm going to buy more tomorrow, thats how strong I feel about GTGP, despite the fear mongering anti-noise... MSE will be in our pocket soon & more to follow after that! ;)
Once the Hot Run results are publicly known all those cement plant companies will see that there is no better product in the market, and since they have to comply in less than a year GTGP will have the lionshare of that! As I said, money talks bro ;)
Yes indeed bro, money talks, its as simple as that!
One more day and we'll have MSE in our pocket, and depending on the value, the share price will adjust itself to that, and as we all know: this is merely the beginning! Much better & stronger news is expected ... & will be received!
LOL there is still an inter-dealer system that brokers utilize to see the bid & ask!
Look at this stock (LBSV) on the Grey's, they were suspended also...
http://www.otcmarkets.com/other-otc/marketActivity/current-otc-market
Once strong news hits, or a company has the goods then its no problem at all to generate decent volume on the Grey's!
You can call your broker to know what the bid/ask is, and the intra-day chart does also indicate where they're located. & trades happen within that range, although it was falsely claimed that the current bid could be undercut with matched trades...
LMAO @ He was not the person who made that post. You do realize there is a big difference between letters and numbers?
Its pretty clear that I do;