Welcome!

Wearables Authors: Simon Hill, Mauro Carniel, Rostyslav Demush, Pat Romanski, Shelly Palmer

News Feed Item

Smoky Market Foods Releases Activity Timetable, Further Guidance on Operations

WEBSTER CITY, IA -- (Marketwired) -- 05/07/14 -- Smoky Market Foods, Inc. (OTC Pink: SMKY) (PINKSHEETS: SMKY) released more information today on its timetable of specific administrative and operational activities currently being undertaken in its process to manicure its corporate profile. "My management and affiliate team is highly motivated and razor-focused. I've worked a long time to secure professional relationships that produce and we now have great talent and financial reach in play," said Eddie Feintech, CEO of the Smoky Market Foods enterprise.

The Company's day-to-day administrative activities are focused upon completing internal financial reports so that audits for years 2012 and 2013 can be initiated as required to bring its SEC filings current. The Company intends to engage its auditors in the next two weeks and then be in position for legal work to initiate a series of filings by end of June that will bring the Company current by July 15, 2014. Said Mr. Feintech, "SMKY is emerging like a colorful flower from the rubble of corporate learning-curve operations, but beneath is the stem of a large fruit tree." The Company intends to move itself up to the OTCQB or QX tier immediately upon making its last SEC filing to be current, at which time it will also be in position to tap is recently secured financing resource to begin making strategic food company acquisitions.

"It's important for investors and shareholders to grasp that we've been endeavoring for 18 months to work through our financial transitioning process quite literally without currency, as our remaining available capital stock has been held in reserve to cover shares issuable by conversion of outstanding convertible notes," Mr. Feintech said. In connection with the Company's bridge money financing and the commitment to such investors, its total payoff of certain outstanding convertible notes must be done before the last filing is made. The Company will continue to accept bridge money financing while defraying its administrative expenses and notes repayment, and its timely receipt of such funds during the coming weeks is a requirement to execute on its activities timetable. "I love the financial support we've been getting from new investors and existing shareholders. They see what is real and what is happening with their money, and they deserve the benefit," said Mr. Feintech.

The Company's operating overhead or burn-rate of bridge money is being kept to a minimum while its manicuring process is completed, which helps to mitigate investor risk and reduce dilution for this stage of critical money. Officers and senior management of the Company continue to provide financial support through greatly reduced paid compensations; its investment banking and operating affiliates are being compensated on the basis of performance, and its costs to launch into food production and distribution remain predominately variable as well. "I take this opportunity to clarify and dispel certain negative misinformation that has been generated in the past with respect to salary compensations supposedly paid to myself and other management, and our having sold substantial amounts of stock into the market," Mr. Feintech stated. "Clearly, any diligent review of the Company's cash flow statements that were contained within its financial filings through September 30, 2012 (our last filing date) along with a search of other filings, would have shown that i) there was less than $100,000 in total salaries paid by the Company since March 31, 2010, which has remained very near that amount to date, ii) that the increase in the Company's current debt for those periods was in large part the direct result of management's deferred compensation along with actual cash advances made by management that bootstrapped expenses, iii) that no amount of convertible debt was taken on directly to pay salary compensations, and iv) that from the absence of Form 4 filings there is no officer or director of the Company who has ever sold any stock," Mr. Feintech concluded.

The Company is also using bridge money to initiate production of product in early June to begin filling pipelines of distribution that include SYSCO-Iowa and the probable addition of larger SYSCO divisions in major cities around the Company's Iowa-based operations. Additionally, the Company will be adding regional specialty fish and meat distributors in markets it has targeted for brand support campaigning. "Our existing oven has a $1 million-plus monthly revenue capacity, which gets us nicely profitable and our intent is to book it quickly," Mr. Feintech stated. "We're tapping our affiliates' connections to sell this capacity and much more to restaurant chains and by container load to international market distributors," he said. The Company's Iowa processor has been gradually building additional processing and refrigeration capacity to meet its growing order demand, and is currently permitted by the USDA for export of value-added foods. "The stronger SMKY becomes in the coming months relative to maximized sales and income, the more favorable our financing terms will be in making our strategic food company acquisitions," said Mr. Feintech.

ABOUT SMOKY MARKET FOODS
Smoky Market Foods, Inc. is a producer and distribution of artisan-quality, Smoke-Baked™ foods that are prepared authentically using a unique wood-burning oven system, and sold under the brand names of Smoky Market® and Smoky Kosher. Because of its proprietary wood-burning oven technology, which burns freshly-cut hickory and apple timber to impart a genuine smoky flavor, the Company's Smoke-Baked meat and fish are truly prepared the old-fashioned way, without the use of any additives or chemical preservatives. This aspect of quality wholesomeness in prepared food processing is a market niche feature. Smoky Market Foods, Inc. intends to build international retail and foodservice channels of distribution for its smoked foods, and to accelerate its overall corporate revenue growth through making strategic food company acquisitions.

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
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics gr...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things’). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing? IoT is not about the devices, it’s about the data consumed and generated. The devices are tools, mechanisms, conduits. In his session at Internet of Things at Cloud Expo | DXWor...
Everything run by electricity will eventually be connected to the Internet. Get ahead of the Internet of Things revolution. In his session at @ThingsExpo, Akvelon expert and IoT industry leader Sergey Grebnov provided an educational dive into the world of managing your home, workplace and all the devices they contain with the power of machine-based AI and intelligent Bot services for a completely streamlined experience.