Smack Sportswear (OTC:SMAK) and Honest Abe won’t Give Up Easily

Don your shorts and bikinis, we’re off to play beach volleyball. If you don’t have the right outfit, or you are in need of of some new sportswear, despair not as Smack Sportswear (OTC:SMAK) are here to help. At least that is what Honest Abe claim… again.

Two paid promotions in less than a month for SMAK. That is quite an achievement. The company that produces and sells volleyball apparel was featured in Honest Abe’s newsletter from yesterday and the email claims that now is the best time to get in on the action and score some great profits with SMAK. The thing is, promoters said the exact same thing less than a month ago, and, as is visible from the chart, they weren’t exactly spot on.

Now SMAK is gearing up for a second round of what appears to be nothing more than a pump and emails are flying everywhere. This time, alongside the highly technical report, that we doubt even Honest Abe themselves understand, the letter also contains the news about SMAK‘s CEO, Bill Sigler, appearing on an internet radio show. In there, Honest Abe said, he speaks about the company, how it all started and what the future holds.

Honest Abe have kindly provided us with a link to the show so, there was nothing left for us, but to plug in the headphones and listen. After a rather irritating 30 minutes, during which the hosts spoke about politics and the disadvantages of living without air-conditioning, sang ABBA songs and argued whether Morgan Freeman is alive or not, SMAK‘s CEO finally appeared.

The interview is pretty much what you’d expect it to be – Mr. Sigler spoke at great length about how he started the company, how much he loves volleyball, the business interactions he had with one of the hosts’ brothers and a lot of other things that are of no interest to shareholders whatsoever. We waited patiently until the time came to talk about SMAK‘s future, and it was then when things started to sound just a bit more interesting.

“Just a bit” is a critical phrase since, as far as we could understand, Bill Sigler could tell us how bright the future for the company is, but he wasn’t allowed to declare what exactly they are going to change. We have written about SMAK before and we have talked at great length about their dreadful financials. Mr. Sigler, however, doesn’t give us exact information on how they are going to improve the statistics, and instead, he speaks about how he is carrying out negotiations with big retail chains, the names of which, of course, he is not allowed to disclose.

It is only normal for a company CEO to be weary of what he/she is speaking during interviews, but still we would have preferred to hear about some more concrete achievements rather the it’s-all-going-to-be-okay statements.

Honest Abe are no newcomers to the promotions business and they have been involved in it for a while now. The problem is that their performance history is full of, what we refer to around here as, “complete and utter flops”. A point proven by LUDWIG ENTERPRISES INC (PINK:LUDG). Honest Abe was part of a huge paid promotion campaign in November 2012 and, back then LUDG‘s price was around $0.10 per share, it lost about 40% during the first session alone and is now down to $0.02.

Is there anything to stop SMAK following in LUDG‘s steps? We doubt that radio interviews are going to help and we’re pretty certain that paid promotions won’t do the job either. The bottom line is, we have yet to see something substantial come out of SMAK‘s headquarters.