Now that is very well said and I appreciate your honesty and clarifications on several areas I did not understand before - I will read the current 10-Q to brush up on the recent developments more since you have taken the time to so thoughtfully lay out the case of the shareholder from the longterm and for the longer term. That I can understand and remember I'm the newbie here just looking at things from that perspective. SMKY didnt just instantly arrive on my radar, I was encouraged by a bunch of you shareholders who I consider intelligent likeminded contemporaries to check it out so I did. Thanks for the long term history synopsis perspective, and alot of that helps me to understand why you are holding.
I see Smoky has already then has chosen Sysco over WW. Good move IMO, I assume they both require the non-competitor clause since they are major competitors and Smoky products are not staples, they are specialty items. Sysco basically smokes WW in all areas of capacity, distribution markets, product marketing, etc etc and my father in law works for WW but thats the bottom line. If sales go well in the Iowa market then comes the lucrative opportunity for an investor to lease a Smoky smoker in their own state providing Sysco is wanting to expand there correct? They will surely evaluate how the Iowa market receives the product now that the distribution channel is fully in place and expand if the model is successful. I can see why it is an exciting time to be in the company from your perspective and can see a lucrative opportuntiy in the oven lease side as an investor should the business model prove to be successful and the distribution channel already be place for your state. Maybe thats why Eddie steered you away at that juncture.
I can understand the soundness of the business model and I hope Smoky is well received in the Iowa market, if so I can see how things expand from there. Yes, after alot of trial and tribulation its out there and now the market has the chance to decide for themselves about the product. You guys love it, and it sounds damn tasty to me as well.
The biggest thing I want to know is how is Smoky resolving their current financial obligations? I saw 1.2M immediate cash needs and no cash on the books so obvioulsy a portion of any future 5M financing needs to go to resolving that. Thats from the old 10-Q. Of course some debt restructuring is always preferable to defaults, that is a no win situation for everyone. Ah, I see myself going there and I dont want to go there without hearing the word first. And accumulated debt is not a matter of fiscal significance, its more like a reading a horse program of past performance. In all honesty I think if Smoky can raise about 2M in the near term to address current liabilities due and the cash burn of current obligations they have about a year to build the revenue stream. Sounds like you and a bunch of you other guys think that the ducks are finally in line, so to speak, and I can see it happening. Of course as Charles pointed out earlier the revs will not be reflected instantly, and with market success the model could be expanded rather quickly and now that distribution channels are being tested you have every chance you could ask for at this point for longterm success.
Thanks for your honest thoughts. Person mark from me just for that, and those come rare lol.
malc
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