Chris Smoak is working on a solution for playing flash on the iDevices, he calls it Smokescreen. Smokescreen is an open-source project that can convert Flash to JavaScript/HTML5 so it can be played on the iPad, iPhone or iPod Touch. You can get the code on github and will be released within the next couple weeks. At this point SmokeScreen’s performance isn’t perfect “yet” but works pretty good for basic flash files “like banners”.

source [iPhoneclub]