From SPCodex, The Smashing Pumpkins wiki
The Winter 1991 Smart Studios sessions were apparently a unique acoustic recording sessions to track future B-sides, probably towards the end of the Gish sessions proper. "Obscured" was most likely recorded at this session.
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Our not-so-innocent obsession with B-sides began innocently enough in 1991 when, after recording our debut album, Gish, we were asked if we had any additional songs that could be used as a flipside to a single. Instead of choosing a song I didn't like, I took it as a challenge to put out something special and different.
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— Billy Corgan, "King Bs", Guitar World, January 1997
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