NEW YORK–(BUSINESS WIRE) —December 23, 2005— ProLink Solutions, LLC, the world’s largest provider of GPS services to golf courses, announced today that it completed its previously announced transaction with Amalgamated Technologies, Inc. ("AGMN") (OTC BB: AGMN).
In connection with the transaction, the members of ProLink exchanged their membership interests in ProLink for capital stock of AGMN. As a result, ProLink became a subsidiary of AGMN. ProLink will pursue a change in AGMN’s name to ProLink Solutions, and will apply for a new ticker symbol from the Over-the-Counter Bulletin Board System.
AGMN has 37,119,186 million fully diluted shares outstanding post transaction, of which the former members of ProLink hold approximately 72 percent. Our board of directors will consist of Mr. Steve Fisher, of FOC Financial, who will serve as Chairman, Lawrence D. Bain, who will also serve as AGMN’s President and Chief Executive Officer, William Fugazy, Jr., who will serve as Vice – Chairman, Robert Ellin and Jay Wolf of Trinad Capital L.P. and Barry Regenstein, Chief Operating Officer of Command Security (CMMD.OB). Joining Mr. Bain on the executive team will be Chuck Sherman – Chief Operating Officer, Barry Sullivan – Chief Financial Officer, Dave Gomez – General Counsel and Danny Lam – President of Finance.
"This new, public platform is the culmination of years of hard work by the entire ProLink team to significantly grow our installed customer base, improve our profitability and initiate our plans to diversify our revenue streams," commented Mr. Bain. "Our differentiated and proprietary offering has emerged as the leader in cart-based GPS related services in the marketplace. The momentum our product has gained by demonstrating a tangible return on investment for both our customers and the golfers they serve has resulted in over 700 golf course installations worldwide to date. We will continue to grow our business by enriching and enhance the revenue opportunities for our golf course partners. Also, by leveraging our global footprint to add complementary services, such as direct advertising, we should increase our revenues with limited incremental cost. Finally, with the start of our recent financing initiative we should shorten our sales cycle, facilitate customer purchases, and provide our customers with a new financing alternative for their ProLink system as well as their other necessary capital expenditures. With this transaction now complete we are poised to move ProLink Solutions forward as a highly visible and successful public entity."
About ProLink
Based in Tempe, Arizona, ProLink is the world’s largest provider of GPS services to golf courses. ProLink’s technology and marketing richness has been installed at more than 700 resorts, private and public courses worldwide, more than triple the installations of all its competitors combined. World-famous course partners of ProLink include Valderrama Golf Club in San Roque, Spain, Dai-Takarazuka in Osaka, Japan and Kapalua Resort in Maui, Hawaii. The world’s largest golf-course management companies, including Pacific Golf Management, Meadowbrook, Kemper Sports, Evergreen Alliance Group and Billy Casper Golf feature ProLink, and the golf-industry trend shows a reported 20 courses are adding GPS to their golf-cart fleets weekly.
ProLink’s GPS system boasts a high-resolution, color display unit neatly affixed to each golf cart. The easy-to-read screen displays pinpoint-accurate distances to the hole, as well as vibrant and easy-to-understand graphics of fairways, greens, hazards and other on-course geographical features. Better navigating the course and taking guesswork out of the game aids golfers’ shot selections and, in turn, speeds pace of play. Other features include ordering food and beverages at the touch of a button on the ninth and 18th tees, as well as personal scoring and tournament leaderboards.
In addition to improving the overall experience for golfers, the ProLink GPS system benefits food-and-beverage sales; green and cart fees; optimal tee-sheet yield; marketing a competitive advantage to secure more golf rounds from new and repeat players; and innovative and unobtrusive on-screen advertising for local businesses and course merchandise, tournaments and memberships.
Courses engaging with ProLink and its distributors substantially lower expenses by not having to hire additional on-course staff or develop costly, cumbersome yardage books. Courses also add up to four rounds per day from pace-of-play improvements, and can control messages from a central computer from which clubhouse staff can issue golfers ‘speed-up-play’ and inclement-weather notices. ProLink GPS systems also allow for quicker reaction to on-course medical emergencies.
Risks and uncertainties are described in reports filed by AGMN with the United States Securities and Exchange Commission
For more information about ProLink, visit www.goprolink.com, call 480.753.2337 or email info@goprolink.com.
Safe Harbor
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Amalgamated Technologies, Inc. (AGMN). Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of AGMN’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The information set forth herein should be read in light of such risks. AGMN does not assume any obligation to update the information contained in this press release.
Contact:
Investor Relations
Hayden Communications
Matt Hayden, (858) 704-5065
matt@haydenir.com
Media Relations
Buffalo Communications
Rich Katz (703) 761-1444
rkatz@billycaspergolf.com
