Replies to post #18543 on Smoky Market Foods, Inc. (fka SMKY)

[ShysterChaser]

Something to consider, comrades:

What if Asher Enterprises is only exhausting its current floorless debenture paper in preparation for another tranche of toxic financing? This iter can be traveled over and over and over again.

And it is not limited to Asher; the world is full of toxic financing; the next participant may be just waiting for the turn of the calendar year before offering to keep SMKY smoking in return for floorless debentures which can be converted to common shares at a discount. Isn't that the real insider enhancement scheme that is being played out here?

Be careful if youse has a wish for Xmas for high volume for Smoky Market Foods, Inc. Youse might not be happy with the dilution and lower prices that might accompany that event. All IMHO.

[Huggy Bear]

Dollar, I know you can and do follow the L2 action on your stocks and I value your opinions, even we if oft do not agree, at least regarding Eddie and real financing.

Can you clarify your calculations? Im always trying to figure out how these sneaky SOB's like Asher actually convert their shares, there is no clause that I am aware of that specifies that the whole amount due must be converted at once and thus establish the set price for all shares Asher receives in one clip. In fact, in many convertible debt arrangements there is a clause specifically stating that the financier may elect to convert shares at will and by their discretion after the lock up time is over. I cannot say specifically that this is the case here because I dont remember any specific clauses in this instance.

Typically, a floorless convertible debt financier will choose to convert in some smaller blocks first and test the waters. They arent in it to lose money. I suspect that they might have converted some after the closes at .01 but then probably a bunch after the closes at .006, maximizing their profit.

Im interested in your take. If the whole note was converted at .006 then the shares issued would be approx 10M. I suspect some were converted higher, so my napkin estimate of shares added to the float are around 8M. We will not know for sure until the next filing, but if the TA gives out info freely then it could be approximated relatively close once the volume action indicates that the conversions are indeed, over.