Welcome!

Wearables Authors: Elizabeth White, Jim Malone, Liz McMillan, Stefan Bernbo, Kareen Kircher

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.

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
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. 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 Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...