Newton Golf Company, Inc 10-K for FY2023

Newton Golf Company, Inc. (NWTG)

10-K 2024-03-18 For: 2023-12-31

Added on April 05, 2026

About this 10-K

Newton Golf Company, Inc filed this 10-K on March 18, 2024, covering the fiscal year ended December 31, 2023 (FY2023).

Headline figures

Fiscal year ended December 31, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $349K; up 83.7% from $190K a year earlier
Net loss: $4.63M; compared with a net loss of $3.51M a year earlier
Diluted EPS: -$0.38; compared with -$0.34 a year earlier

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Delaware		82-4938288
(State of incorporation)		(I.R.S. Employer Identification No.)

551 Calle San Pablo, Camarillo, California		93012
(Address of principal executive offices)		(Zip Code)

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		SPGC		The Nasdaq Stock Market LLC

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☒		Smaller reporting company ☒
		Emerging growth company ☒

PART I	1

Item 1. Business	1

Item 1A. Risk Factors	8

Item 1B. Unresolved Staff Comments	26

Item 1C. Cybersecurity	27

Item 2. Properties	28

Item 3. Legal Proceedings	28

Item 4. Mine Safety Disclosures	28

PART II	29

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	29

Item 6. [Reserved]	29

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations	29

Item 7A. Quantitative and Qualitative Disclosures About Market Risk	35

Item 8. Financial Statements and Supplementary Data	F-1

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	36

Item 9A. Controls and Procedures	36

Item 9B. Other Information	36

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	36

PART III	37

Item 10. Directors, Executive Officers and Corporate Governance	37

Item 11. Executive Compensation	42

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	45

Item 13. Certain Relationships and Related Transactions, and Director Independence	47

Item 14. Principal Accountant Fees and Services	49

PART IV	50

Item 15. Exhibits, Financial Statement Schedules	50

Item 16. Form 10-K Summary	50

	●	Elongated Bend Profile – SPG has created an extreme elongated bend profile that is central to the shaft’s design. Because of SPG’s proprietary Kinetic Storage Construction, the shaft will bend over a longer span of its length, resulting in improved club speed. The added flexibility of the carbon fiber gives the impression that the golfer doesn’t need to exert excessive force during the swing, leading to a more predictable and less jarring experience. This, in turn, enhances the smoothness of the swing.

	●	Kinetic Storage Construction – The kinetic storage profile is the engine of Newton’s Motion Driver Shaft. This proprietary construction empowers the fibers to store more energy that is harnessed through elongated bend, resulting in a significant boost in exit velocity. In contrast to most carbon fiber shafts, SPG’s technology ensures perfect symmetry, eliminating the inconsistencies in flex and spin rates that can often lead to decreased accuracy and distance.

	●	Newton Symmetry360 Design – SPG’s Newton Symmetry360 design ensures consistent flex, regardless of the driver’s clocking position. This stand-out feature allows for seamless adjustments to both the bend and torque (twist) when most flex changes occur, providing a truly versatile and adaptive solution.

	●	Variable Bend Profile – The Newton Motion driver shaft is equipped with a variable bend profile meticulously designed to match the bend and torque requirements of each flex. This innovation ensures that every player’s driving performance is optimized, adapting seamlessly to the unique demands of the swing. Golfers with slower swing speeds need more torque while higher swing speeds need the opposite. Whether a slow or high swing speed, the Newton Motion technology tailors to the torque.

	●	US D874592 S (Series 54 design patent)
	●	US D867494 S (Series 39 design patent)
	●	US 11,123,614 B2 (Magnesium Golf Clubhead Insert)
	●	Ultra Low Balance Point Utility Patent:

	○	US 8,608,586
	○	Australia Patent No. 2012/301755
	○	Canada Patent No. 2,846,882
	○	China Patent App No. 2012/80042114.1
	○	European Patent App. No. 128287695
	○	Japan Patent No. 2014-528632
	○	South Korea Patent No. 2014-7008689
	○	South Africa Patent No. 2014/02273

	●	USPTO Reg. No. 5,783,037 (Veni Vidi Vici)
	●	USPTO Reg No. 5,822,719 (Sacks Parente)
	●	South Korea Reg. No. 40-1820381 (Sacks Parente)

	●	Twitter: https://mobile.twitter.com/sacksparente
	●	Facebook: https://www.facebook.com/sacksparente
	●	LinkedIn: https://www.linkedin.com/company/sacks-parente-golf/
	●	Instagram: https://www.instagram.com/sacksparente/

	Year Ended December 31, 2023			Year Ended December 31, 2022			% Change

Net Sales	$	349,000		$	190,000			84	%
Cost of goods sold		227,000			110,000			106	%
Gross profit		122,000			80,000			53	%

Operating expenses:
Selling, general and administrative		4,497,000			2,874,000			56	%
Research and development		258,000			73,000			253	%
Total operating expenses		4,755,000			2,947,000			61	%

Loss from operations		(4,633,000	)		(2,867,000	)		62	%

Loss on extinguishment of debt		-			(574,000	)		-100	%
Interest income (expense), net		8,000			(64,000	)		-113	%

Net loss	$	(4,625,000	)	$	(3,505,000	)		32	%

	Year Ended December 31,
	2023			2022

Net cash provided by (used in):
Operating activities	$	(5,047,000	)	$	(785,000	)
Investing activities		(289,000	)		(75,000	)
Financing activities		10,503,000			847,000
Net increase (decrease) in cash	$	5,167,000		$	(13,000	)

	●	comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis);

	●	have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

	●	submit certain executive compensation matters to stockholder advisory votes, such as “say-on-pay,” “say-on-frequency” and pay ratio; and

	●	disclose certain executive compensation-related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation.

Report of Independent Registered Public Accounting Firm (PCAOB Firm ID: 572)	F-2

Financial Statements:

Balance Sheets as of December 31, 2023 and December 31, 2022	F-3

Statements of Operations for the years ended December 31, 2023 and 2022	F-4

Statements of Changes in Stockholders’ Equity for the years ended December 31, 2023 and 2022	F-5

Statements of Cash Flows for the years ended December 31, 2023 and 2022	F-6

Notes to Financial Statements for the years ended December 31, 2023 and 2022	F-7

/s/ Weinberg & Company, P.A.

Los Angeles, California
March 18, 2024

	December 31, 2023			December 31, 2022

ASSETS
Current Assets:
Cash and cash equivalents	$	5,338,000		$	147,000
Restricted cash		-			24,000
Accounts receivable		53,000			2,000
Inventory, net of reserve for obsolescence of $98,000 and $73,000, respectively		248,000			142,000
Prepaid expenses and other current assets		196,000			16,000
Total Current Assets		5,835,000			331,000

Property and equipment, net		379,000			122,000
Right-of-use asset, net		65,000			22,000
Deferred software licensing agreement		110,000			-
Deferred offering costs		-			230,000
Deposits		5,000			5,000
Total Assets	$	6,394,000		$	710,000

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIENCY)
Current Liabilities:
Accounts payable and accrued expenses	$	401,000		$	97,000
Accrued payroll to executives		-			1,095,000
Lease liability, current		31,000			17,000
Deferred software licensing obligation		41,000			-
Equipment purchase obligation		-			15,000
Loans payable – related parties		-			537,000
Notes payable		-			384,000
Customer deposits		2,000			21,000
Total Current Liabilities		475,000			2,166,000

Software licensing fee obligation, net of current		95,000			-
Lease liability, net of current		34,000			6,000
Total Liabilities		604,000			2,172,000

Common stock subject to possible redemption (561,375 shares at redemption price of $1.07) at December 31, 2022		-			420,000

Commitments and Contingencies		-			-

Stockholders’ Equity (Deficiency):
Preferred stock $.01 par value, 5,000,000 shares authorized, no shares issued and outstanding		-			-
Common stock, $.01 par value, 45,000,000 shares authorized, 14,595,870 and 10,784,495, shares issued and outstanding, respectively, excluding 561,375 shares subject to possible redemption at December 31, 2022		146,000			108,000
Additional paid-in-capital		15,961,000			3,702,000
Accumulated deficit		(10,317,000	)		(5,692,000	)
Total Stockholders’ Equity (Deficiency)		5,790,000			(1,882,000	)

Total Liabilities and Stockholders’ Equity (Deficiency)	$	6,394,000		$	710,000


	Years Ended December 31,
	2023			2022

Net Sales	$	349,000		$	190,000
Cost of goods sold		227,000			110,000
Gross profit		122,000			80,000

Operating expenses:
Selling, general and administrative expense		4,497,000			2,874,000
Research and development expense		258,000			73,000
Total operating expenses		4,755,000			2,947,000

Loss from operations		(4,633,000	)		(2,867,000	)

Loss on extinguishment of debt		-			(574,000	)
Interest income (expense), net		8,000			(64,000	)

Net Loss	$	(4,625,000	)	$	(3,505,000	)

Loss per share – basic and diluted	$	(0.38	)	$	(0.34	)

Weighted average number of shares outstanding – basic and diluted		12,237,395			10,433,820

	Shares		Amount		Shares			Amount			Capital		Deficit			Deficiency
	Common Stock				Common Stock Issuable						Additional Paid In		Accumulated			Total Stockholders’
	Shares		Amount		Shares			Amount			Capital		Deficit			Deficiency
Balance, December 31, 2021		9,170,760	$	92,000		133,371		$	150,000		$	508,000	$	(2,187,000	)	$	(1,437,000	)
Vesting of restricted stock						25,000			25,000								25,000
Vesting of options						-			-			1,383,000					1,383,000
Modification of equity awards		95,870		1,000		(158,371	)		(175,000	)		202,000					28,000
Shares issued on conversion of convertible debt		1,517,865		15,000		-			-			1,609,000					1,624,000
Net Loss														(3,505,000	)		(3,505,000	)
Balance, December 31, 2022		10,784,495		108,000		-			-			3,702,000		(5,692,000	)		(1,882,000	)
Balance		10,784,495		108,000		-			-			3,702,000		(5,692,000	)		(1,882,000	)
Vesting of options		-		-		-			-			443,000					443,000
Shares issued for services		50,000		-		-			-			225,000					225,000
Proceeds from private sale of common stock		561,375		6,000								594,000					600,000
Proceeds from public sale of common stock, net of expenses		3,200,000		32,000								10,997,000					11,029,000
Net Loss														(4,625,000	)		(4,625,000	)
Balance, December 31, 2023		14,595,870	$	146,000		-		$	-		$	15,961,000	$	(10,317,000	)	$	5,790,000
Balance		14,595,870	$	146,000		-		$	-		$	15,961,000	$	(10,317,000	)	$	5,790,000


	Years Ended December 31,
	2023			2022

Cash Flows from Operating Activities
Net Loss	$	(4,625,000	)	$	(3,505,000	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		32,000			11,000
Amortization		26,000			-
Change in reserve for inventory obsolescence		25,000			(36,000	)
Vesting of options		443,000			1,383,000
Vesting of restricted stock		-			25,000
Modification of equity awards		-			28,000
Loss on extinguishment of debt		-			574,000
Shares issued for services		225,000			-
Changes in ROU asset		30,000			12,000
Accrued interest		-			63,000
Changes in operating assets and liabilities
Accounts receivable		(51,000	)		9,000
Inventory		(131,000	)		(62,000	)
Prepaids and other current assets		(180,000	)		4,000
Deposits		-			(1,000	)
Accounts payable and accrued expenses		304,000			88,000
Accrued payroll to officers		(1,095,000	)		615,000
Lease liability		(31,000	)		(11,000	)
Customer deposits		(19,000	)		18,000
Net cash used in operating activities		(5,047,000	)		(785,000	)

Cash Flows from Investing Activities
Purchase of property and equipment		(289,000	)		(75,000	)
Net cash used in investing activities		(289,000	)		(75,000	)

Cash Flows from Financing Activities
Payment of equipment purchase obligation		(15,000	)		(43,000	)
Deferred offering costs		230,000			(230,000	)
Proceeds from private sale of common stock subject to possible redemption		180,000			420,000
Proceeds from public sale of common stock, net		11,029,000			-
Proceeds from notes payable		61,000			350,000
Repayment of notes payable		(445,000	)		-
Proceeds from loans payable – related party		20,000			200,000
Repayment of loans payable – related party		(557,000	)		-
Proceeds from convertible debt obligations		-			150,000
Net cash provided by financing activities		10,503,000			847,000

Net increase (decrease) in cash		5,167,000			(13,000	)
Cash and cash equivalents and restricted cash beginning of period		171,000			184,000
Cash and cash equivalents and restricted cash end of period	$	5,338,000		$	171,000

Supplemental disclosures of cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common shares issued on conversion of convertible debt obligations	$	-		$	1,624,000
New right of use asset and lease liability	$	73,000		$	34,000
Recording of deferred software licensing agreement	$	136,000		$	-
Property and equipment purchased with debt	$	-		$	58,000
Reclass of common stock subject to redemption to equity	$	420,000		$	-

Property and Equipment Type		Years of Depreciation
Machinery and Equipment		7 years
Leasehold Improvements		2 years
Vehicles		5 years

	2023			2022
	Years Ended December 31,
	2023			2022
Net Sales Source	Revenue			Revenue			% Change
Distributors	$	119,000		$	67,000			78	%
Online Sales		320,000			129,000			148	%
Shipping		7,000			4,000			75	%
Sales discounts		(97,000	)		(10,000	)		870	%
Net Sales	$	349,000		$	190,000			84	%

	December 31, 2023		December 31, 2022
Options		2,561,603		2,220,835
Common stock subject to possible redemption		-		561,375
Total		2,561,603		2,782,210

	December 31, 2023		December 31, 2022
Raw materials, net	$	74,000	$	42,000
Finished goods, net		174,000		100,000
Total	$	248,000	$	142,000

Years Ending December 31,	Amount
2024	$	41,000
2025		54,000
2026		41,000
Total payments		136,000
Less: Current portion		(41,000	)
Non-current portion	$	95,000

	December 31, 2023		December 31, 2022

Line of credit to related party – Akinobu Yorihiro ^(a)	$	-	$	67,000
Line of credit to related party – Tim Triplett ^(b)		-		76,000
Line of credit to related party – GML Holdings ^(c)		-		151,000
Line of credit to related party – NXV ^(d)		-		19,000
Secured promissory note to related party – Michael Keller ^(e)		-		224,000
Total	$	-	$	537,000

	(a)	On April 1, 2019, the Company entered into a Line of Credit Agreement with Akinobu Yorihiro. Akinobu Yorihiro is a co-founder, Director, Chief Technology Officer, and Chief Legal Officer of the Company. The agreement established a revolving line of credit in the amount of up to $100,000. Advances under this line of credit are unsecured and bear interest at the rate of 2.00 percent per annum. The Line of Credit Agreement shall become payable when the Company has sufficient cash to repay the loan, as determined in the sole discretion of the Company; provided, however, that the entire amount of the Loan shall become due and payable upon the earliest to occur of: the date the Company’s cash balance equals or exceeds $1,000,000; the Company’s insolvency; appointment of a receiver for all or a part of the Company’s assets; the assignment by the Company for the benefit of creditors; or the commencement of any proceeding under any bankruptcy or insolvency laws by or against the Company. At December 31, 2022, outstanding principal and accrued interest totaled $67,000. During the year ended December 31, 2023, the Company added a nominal amount of interest and paid the outstanding principal and accrued interest of $67,000, leaving no balance remaining at December 31, 2023.

	(b)	On April 1, 2019, the Company entered into a Line of Credit Agreement with Tim Triplett. Tim Triplett is co-founder, and former Director, President and Chief Executive Officer of the Company. The agreement established a revolving line of credit in the amount of up to $100,000. Advances under this line of credit are unsecured and bear interest at the rate of 2.00 percent per annum. The Line of Credit Agreement shall become payable when the Company has sufficient cash to repay the loan, as determined in the sole discretion of the Company; provided, however, that the entire amount of the Loan shall become due and payable upon the earliest to occur of: the date the Company’s cash balance equals or exceeds $1,000,000; the Company’s insolvency; appointment of a receiver for all or a part of the Company’s assets; the assignment by the Company for the benefit of creditors; or the commencement of any proceeding under any bankruptcy or insolvency laws by or against the Company. At December 31, 2022, outstanding principal and accrued interest totaled $76,000. On August 10, 2023, the Company entered into an additional loan agreement for $20,000. The loan bears 10% fixed interest and is payable in one lump sum payment on August 30, 2023, or any other later date as may be mutually agreed in writing by the Company and Mr. Triplett. During the year ended December 31, 2023, the Company added $3,000 of additional accrued interest and paid the outstanding principal and accrued interest of $99,000, leaving no balance remaining at December 31, 2023.

	(c)	On August 1, 2018, the Company entered into a Line of Credit Agreement with GML Holdings. GML Holdings is owned by Akinobu Yorihiro, co-founder, Director, Chief Technology Officer, and Chief Legal Officer of the Company. The agreement established a revolving line of credit in the amount of up to $250,000. Advances under this line of credit are unsecured and bear interest at the rate of 2.00 percent per annum. The Line of Credit Agreement shall become payable when the Company has sufficient cash to repay the loan, as determined in the sole discretion of the Company; provided, however, that the entire amount of the Loan shall become due and payable upon the earliest to occur of: the date the Company’s cash balance equals or exceeds $1,000,000; the Company’s insolvency; appointment of a receiver for all or a part of the Company’s assets; the assignment by the Company for the benefit of creditors; or the commencement of any proceeding under any bankruptcy or insolvency laws by or against the Company. At December 31, 2022, outstanding principal and accrued interest totaled $151,000. During the year ended December 31, 2023, the Company added $2,000 of additional accrued interest and paid the outstanding principal and accrued interest of $153,000, leaving no balance remaining at December 31, 2023.

	(d)	On March 1, 2018, the Company entered into a Line of Credit Agreement with NXV. NXV is owned by Akinobu Yorihiro, co-founder, Director and Chief Technology Officer, and Chief Legal Officer of the Company, and Tim Triplett, co-founder, and former Director, President and Chief Executive Officer of the Company. The agreement established a revolving line of credit in the amount of up to $40,000. Advances under this line of credit bear interest at the rate of 2.00 percent per annum. The Line of Credit Agreement shall become payable when the Company has sufficient cash to repay the loan, as determined in the sole discretion of the Company; provided, however, that the entire amount of the Loan shall become due and payable upon the earliest to occur of: the date the Company’s cash balance equals or exceeds $1,000,000; the Company’s insolvency; appointment of a receiver for all or a part of the Company’s assets; the assignment by the Company for the benefit of creditors; or the commencement of any proceeding under any bankruptcy or insolvency laws by or against the Company. At December 31, 2022, outstanding principal and accrued interest totaled $19,000. During the year ended December 31, 2023, the Company added a nominal amount of interest and paid the outstanding principal and accrued interest of $19,000, leaving no balance remaining at December 31, 2023.

	(e)	On May 23, 2022, the Company entered into a secured promissory note (“Note”) with Michael Keller, the Company’s former Chief Financial Officer, in the principal amount of $200,000, which bears interest at the rate of twenty (20) percent per annum. The full balance of the Note, including accrued interest, is due and payable in one lump sum payment on the earlier to occur of: (a) the one year anniversary of the Note or (b) 15th day following the receipt by the Company of the proceeds from the anticipated initial public offering of the Company’s common stock. The Note is secured by all inventory of the Company, which shall transfer to the possession and ownership of the lender immediately if the Company defaults on its repayment obligations. At December 31, 2022, outstanding principal and accrued interest totaled $224,000. During the year ended December 31, 2023, the Company added $26,000 of additional accrued interest and paid the outstanding principal and accrued interest of $250,000, leaving no balance remaining at December 31, 2023.

	December 31, 2023		December 31, 2022

Note payable (a)	$	-	$	109,000
Note payable (b)		-		275,000
Note payable (c)		-		-
Note payable (d)		-		-
Total	$	-	$	384,000

	(b)	On November 9, 2022, the Company entered into a promissory note (“Note”) for $250,000. The Company promises to pay to the order of Lender the sum of two hundred fifty thousand dollars ($250,000), together with a single payment of 10% of the total loan within 90 days of the loan, plus a 20% per annum on the balance if it is not paid within 90 days of the loan. The full balance of this Note is due and payable in one lump sum payment on the earlier to occur of: (a) 90 days from receipt of funds, (b) the one-year anniversary of this Note or (c) no more than 15 days following the receipt by Borrower of the proceeds from the anticipated initial public offering of Borrower’s common stock. Notwithstanding anything to the contrary herein and regardless of when the Note is repaid in full, the minimum interest payment due to Lender shall be $25,000. At December 31, 2022, outstanding principal and accrued interest totaled $275,000. During the year ended December 31, 2023, the Company added $26,000 of additional accrued interest and paid the outstanding principal and accrued interest of $301,000, leaving no balance remaining at December 31, 2023.

	(c)	On July 11, 2023, the Company received a loan of $11,000 from a third party, which bears no interest and is due on demand. During the year ended December 31, 2023, the Company paid the outstanding principal of $11,000, leaving no remaining balance at December 31, 2023.

	(d)	On August 8, 2023, the Company entered into a loan agreement for $58,000 with a third party, which included $8,000 of interest and fees. The total loan proceeds received by the Company were $50,000. The loan bears 10% interest and is due and payable on September 8, 2023. On August 29, 2023, the Company paid the outstanding principal and accrued interest of $58,000, leaving no balance remaining at December 31, 2023.

				Weighted
	Number of			Average
	Options			Exercise Price
Balance outstanding, December 31, 2021		-		$	-
Options granted		2,220,835			1.00
Balance outstanding, December 31, 2022		2,220,835		$	1.00
Options granted		1,168,000			0.83
Options forfeited		(827,232	)		1.00
Balance outstanding, December 31, 2023		2,561,603		$	1.01
Balance exercisable, December 31, 2023		1,388,589		$	1.00

		Outstanding						Exercisable
						Weighted				Weighted
Exercise Price				Life		Average				Average
Per Share		Shares		(Years)		Exercise Price		Shares		Exercise Price
$	0.67		208,000		6.99	$	0.672		-	$	0.67
$	0.69		530,000		4.91		0.689		6,389		0.69
$	1.00		1,393,603		3.09		1.00		1,282,200		1.00
$	1.07		430,000		4.61		1.07		100,000	$	1.07
			2,561,603		4.26	$	1.01		1,388,589	$	1.00

	December 31, 2023			December 31, 2022
Income tax benefit at federal statutory rate		(21.0	)%		(21.0	)%
State income tax benefit, net of federal benefit		(6.0	)%		(6.0	)%
Change in valuation allowance		27.00	%		27.00	%

Income taxes at effective tax rate		-	%		-	%

	December 31, 2023			December 31, 2022
Net operating loss carryforwards	$	1,468,000		$	400,000
Less: Valuation allowance		(1,468,000	)		(400,000	)

Net deferred tax assets	$	-		$	-

	(a)	None.
	(b)	In the quarter ended December 31, 2023, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted or terminated a plan for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or a non-rule 10b5-1 trading arrangement for the purchase or sale of our securities within the meaning of Item 408 of Regulation S-K.

Name	Age	Position
Dr. Greg Campbell	61	Executive Chairman

Jane Casanta	58	Director – Independent

Brett Hoge	46	Director – Independent

Dottie Pepper	61	Director – Independent

Akinobu Yorihiro	54	Chief Technology Officer, Director

Steve Handy	56	Chief Financial Officer

Scott White	60	Chief Operating Officer

	●	CNC milled putters

	●	CNC milled metal woods

	●	Third wedge and three wedge sets

	●	Over 30 Utility Patents