SMKY, Smoky Market Foods, after a huge run from su

SMKY, Smoky Market Foods, after a huge run from sub-penny to .89 in 2011, has come full circle back to sub-pennyland again as we close out 2012.  The company has not failed, it has just not succeeded YET.  That is expected to soon change.

SMKY is seeking some form of traditional financing to fund the acquisition of a meat-processing facility in Webster City, IA, with annual revenues approaching $30M, AND MORE IMPORTANTLY, to fund the production and distribution of SMKY's own line of smoke-baked foods.

SMKY has commitments from several major grocery chains and other distribution channels, and is only waiting for the necessary financing to be secured.  It has been a challenging path of seeking the right financing with the most favorable terms, but the company now believes they are close to finally receiving such funding.  January is expected to be the month to see this happen.

Much of the decline in share price from 2011 has had to do with the need to secure some interim convertible debt financing to pay for small operating expenses such as preparing financial filings (the company is fully-reporting on the OTCQX exchange).  The most recent round of convertible debt shares concluded being sold into the market this week, and the stock has already rebounded from the .0042 low to a current PPS of .0075.  The stock still has a long way to go to get back to 2011 levels, but with the news flow that is expected following the receipt of funding, it seems very likely that those levels be seen again.  Additionally, the company intends to pay off all remaining convertible notes with the receipt of the new financing, so dilution should no longer be an issue going forward.

With news expected sometime in January, NOW appears to be an opportune time to start/continue to build a position in SMKY.