Having exhausted almost all opportunities for growth on the stock market, interested parties around Smokefree Innotec Inc (PINK:SFIO) have decided to play it safe by launching a new promotional campaign. Currently evaluated at $35 thousand, the awareness program is expected to do what the last couple of press releases could not – get SFIO back where it used to be.
Since the beginning of April, SFIO has issued two updates. On Apr. 5, it boasted that it had finally acquired a very special reward – a patent for the design of its unique smokeless e-cigarette granted by the European Patent Office. As it seems, the official publication of the patent is supposed to see the light of day within the next two months, provided that all corresponding fees have been paid. The news was immediately backed up by an advertising campaign worth $5 thousand.
Although the impact of the promotion mentioned above was slim to none, interested parties have applied the very same pattern with two basic differences: the new press release plus the new size of the promotion, namely $35 thousand. While the former update presented what pretty much seemed like a done deal, the latter rests on fairly vague circumstances. According to the release, the company representatives have already negotiated meetings with the largest Australian and New Zealand distributors. This might sound like a positive step, yet until such meetings have taken place good prospects are still far from coming to fruition. [BANNER]
Smokefree Innotec, Inc. describes itself as “an established international distributor of e-cigarettes”. Now that they claim to have a final product on the market, let us take a look at the financial state of the company. Being a limited information provider on the OTC market, SFIO actually published its annual 2010 report ten days ago. According to the unaudited document, the company closed 2010 with:
- $418K in current assets;
- $1.08 million in current liabilities;
- annual net loss in excess of $150 thousand.
Considering the bleak financial picture drawn above, the company’s capacity to break new ground might not prove to be as unlimited as its managers would like. At least, they can always bring some 200 million authorized shares to life in order to raise additional capital.
