I thought the press release (dated April 21) was pretty brazen with the current FDA climate. I can't help but wonder if they know something we don't, or if they're clueless as to what's going on?
Quote from
Nashville execs say they'll launch 'smoke-free cigarette' on Venture Nashville
Schroepfer said that while some competitors "e-cigarettes" have been banned, at least temporarily, in Canada and other nations, and marketing for smoking cessation is forbidden by some nations, he said
SFI sees no such impediments ahead for its technology.
In its materials, the company says, "Now that the R & D has been completed, SFI is seeking $8,000,000 during 2009 to launch the manufacturing and first phase marketing with the first tranche of $2,500,000 in the second quarter followed by $5,500,000 in the third quarter. Another $8,000,000 is requested for 2010 to support the second phase marketing program
Continuing, the SFI information explains, "An investment banker, Kings Pointe Capital, Inc, located in California has been hired to raise the required funds by merging SFI into a public shell and obtaining the investment capital
through the selling of public stock under a private placement program. Kings Pointe, working with Dallas Jones Associates, has the funding commitment from their investment sources once SFI is a public company, which
is planned to be accomplished by the end of 2008."
No update of progress toward those goals has been provided by SFI. Two years ago, the two executives told a reporter they hoped to raise $20 million in capital for the venture, and had themselves, to that point, invested a total of about $700,000 in the business.
They've already invested $700k and that's a lot of money already invested on a product that could be banned. ...It's all very interesting to me also.
