Smoky Market Foods, Inc. (SMKY.OB) announced that its participation at the Dallas FSX1 broker-dealer conference in January has resulted in anticipated financial backing that will enable the company to launch its operations. SMKY became a public company in September 2007 through a self-registration process and plans to grow its branded operations on a national and international level. A portion of the proceeds from the anticipated financing will stem from principally structured private equity sales of its common stock.
SMKY’s CEO Edward Feintech commented, “Navigating the dynamics of being a public company and establishing our company with the right financial resources is a definite process; it takes a few months to create real and viable financing relationships and the FSX1 broker conference was a great venue for us.”
SMKY’s website has been recently updated with summer menu items as well as additional products and services for catering, dining, and RV camping. The website is targeted to be ready for full on-line ordering by June 2008. At this time, consumers can view the products and order smoked salmon samples.
In addition to the website, Smoky Market Foods is developing its pilot restaurant-store in Los Gatos, CA. This first store will be a showcase unit offering full-service dining, take-out, and catering. It will also serve as a training ground from the company’s expansion into the rest of northern California. The company anticipates each restaurant to average between $825,000 and $1.2 million in annual revenue.
“When our financing comes into place, our plan is to open a total of 30 such stores during the following 12 months. Many of our stores will be pre-fabricated buildings that require only 45 days to install for operation,” stated Feintech.
With the use of its proprietary wood-burning oven technology, SMKY is able to provide a full line of natural smoked products without the use of additive or chemical preservatives. The company plans to provide its products via the Internet and through Smoky Market® restaurant-stores and self-contained kiosks.
According to Feintech, “We expect the Company will be financed to continue the execution of our operating plan to launch Internet sales targeted toward the 12 million RV users in the country, the opening of our pilot restaurant-store in Los Gatos, CA, and at least one 150 s/f kiosk well in time for the summer season.”
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