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A small company that used our software made this same change and was recently purchased by Cerberus for $600m.
This is, without a doubt, a good thing.
Element 21 Appoints New Chief Financial Officer
Thursday January 29, 2009, 4:00 pm EST
TORONTO--(MARKET WIRE)--Jan 29, 2009 -- Element 21 Golf Company (OTC BB:ETGF.OB - News) (Frankfurt:BJQ.F - News), the leading manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, announced today that it has appointed a new Chief Financial Officer - David Khazak.
David Khazak is a Chartered Accountant with over eighteen years of experience in public accounting. His areas of expertise include financial reporting of mid-size and large US and Canadian based private and public Companies as well as international conglomerates. David served as a CFO and controller of a large metallurgical conglomerate. He began his public accounting experience with Ernst & Young and is well versed with Sarbanes Oxley requirements with his extensive experience with NASDAQ companies.
The former CFO's agreement between Element 21 and John T. Grippo expired and Element 21 has accepted his resignation.
"The planned change in CFOs was driven by the change in our operations from a development stage, research-driven entity to actual sales of E21 technologies and products. Element 21 requires expertise in Sarbanes Oxley compliant financial management to facilitate future possible transition to NASDAQ or AMEX exchanges," said Nataliya Hearn, President and CEO of Element 21. Dr. Hearn further stated that, "Mr. Grippo is owed a debt of gratitude for assisting and guiding the company to its present position."
About Element 21
Element 21 Sports Company's premier products are golf clubs and fishing poles made out of a Scandium and biofiber materials, which are light, durable, and long-lasting. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008, who continue to use Element 21's Scandium technology during professional competition. Their patented technology encompasses scandium as the fundamental material used to provide superior golf and fishing equipment.
Element 21 Sports Company has developed award winning fishing products. Element 21's Carrot StixTM represents the latest in cutting edge technology, using a newly developed proprietary method of integrating nano level cellulose bio-fibers into the rod. With sponsors like Boyd Duckett and many others on all the fishing tours, Element 21 fishing line is one of the fastest growing in the country, if not the world. The fishing products recently were recognized as the "BEST OF SHOW" in at the at the 2007 and 2008 ICAST show, the world's largest sports fishing show.
Element 21 Golf Company's revenue has been growing at an annualized growth rate of 343.3% and 705.5% for fiscal year 2006 and 2007, respectively. The three year average growth rate for the recent past is 203.9%.
Forward-Looking Statements
Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated, including but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting e21 and its business. A number of these risks and uncertainties are described in e21's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. Element 21 undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
John R. Exley, III
Partner
Business Development
Acorn Management Partners, LLC
105 Noble Court, Suite 205
Alpharetta , GA 30005
Direct: 678-368-4002
Fax: 866-549-0045
Press Release
Source: Element 21 Golf Co.
Element 21 January 2009 -- Best Month to Date -- Fishing Rod Sales Increase 350% From January 2008
Wednesday January 28, 9:10 am ET
TORONTO--(MARKET WIRE)--Jan 28, 2009 -- Element 21 Golf Company (OTC BB:ETGF.OB - News), the leading manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, announced today that January 2009 sales were 350% higher than the equivalent period in 2008. January 2009 has the highest sales to date, since the introduction of the Carrot Stix(TM) line of rods in December 2007.
"The 350% rise in sales is connected to the beginning of the buying season for the main retail chains, who recently began carrying the Carrot Stix(TM) line of products. Element 21 fishing rods are currently being sold thru over 500 storefronts. The market for the Element 21 line is expanding rapidly from the fresh water market into salt water market, with the recent introduction of the Salty Carrot Stix(TM) line," said Nataliya Hearn, President and CEO of Element 21.
Element 21 has attended 7 shows in the month of January 2009 to showcase its existing and new line of rods.
About Element 21
Element 21 Sports Company's premier products are golf clubs and fishing poles made out of a Scandium and biofiber materials, which are light, durable, and long-lasting. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008, who continue to use Element 21's Scandium technology during professional competition. Their patented technology encompasses scandium as the fundamental material used to provide superior golf and fishing equipment.
Element 21 Sports Company has developed award winning fishing products. Element 21's Carrot Stix(TM) represents the latest in cutting edge technology, using a newly developed proprietary method of integrating nano level cellulose bio-fibers into the rod. With sponsors like Boyd Duckett and many others on all the fishing tours, Element 21 fishing line is one of the fastest growing in the country, if not the world. The fishing products recently were recognized as the "BEST OF SHOW" in at the at the 2007 and 2008 ICAST show, the world's largest sports fishing show.
Element 21 Golf Company's revenue has been growing at an annualized growth rate of 343.3% and 705.5% for fiscal year 2006 and 2007, respectively. The three year average growth rate for the recent past is 203.9%.
Forward-Looking Statements.
Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated, including but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting e21 and its business. A number of these risks and uncertainties are described in e21's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. Element 21 undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
If the stock goes back up the reverse split does not mean anything. You still have the same value.
Or it could be that new shareholders have come in and believe in the product.
Acorn believes this is going higher, maybe they have convinced others of it. Plus the PGA Show is soon.
Element 21 Sports a Buy With a $3.10 -- 12 Month Target Issued by Acorn Research LLC
Friday January 9, 2009, 8:05 am EST
Yahoo! Buzz Print TORONTO--(MARKET WIRE)--Jan 9, 2009 -- Element 21 Golf Company (OTC BB:ETGF.OB - News) (Frankfurt:BJQ.F - News), the leading manufacturer of advanced Scandium Alloy golf and fishing equipment, announced today that Acorn Research has issued a research report with a target 12 months stock price of $3.10. The report is available on line at http://www.acornmanagementpartners.com/research/Element%2021%20Sports%20(ETGF).pdf
Element 21 Sports Company is a vertically integrated Scandium metal company that produces golf and fishing equipment made with proprietary technology and patented Element 21 metal. The objective of Element 21 Sports is to position the organization as a key innovator in the retail golf and fishing equipment market. Element 21 Sports Company plans to expand its product lines to include hockey, baseball, cycling, tennis, and other sports, where strength and lightness is required to improve performance and playability.
Element 21 Sports Company's premier products are golf clubs and fishing poles made out of a Scandium and biofiber materials, which are light, durable, and long-lasting. Element 21's golf clubs have been used by renowned golf pros, such as the winner of the FedEx Cup in 2008, who continue to use Element 21's Scandium technology during professional competition. Their patented technology encompasses scandium as the fundamental material used to provide superior golf and fishing equipment. The hollow design of the golf clubs gives the player more accuracy on off-center hits. Their clubs have a wide sole, which gives the player a launch trajectory angle for all types of lies. Each club is hand assembled and frequency matched for consistent feel and performance.
Element 21 Sports Company was established as a manufacturer and designer of advanced Scandium metal golf and fishing equipment. Scandium metal is a synthetic aluminum alloy material which is light and durable.
Element 21 Sports Company has developed award winning fishing products. Element 21's Carrot Stix represents the latest in cutting edge technology, using a newly developed proprietary method of integrating nano level cellulose bio-fibers into the rod. With sponsors like Boyd Duckett and many others on all the fishing tours, Element 21 fishing line is one of the fastest growing in the country, if not the world. The fishing products recently were recognized as the "BEST OF SHOW" at the 2007 and 2008 ICAST show, the world's largest sports fishing show.
Element 21 Golf Company's revenue has been growing at an annualized growth rate of 343.3% and 705.5% for fiscal year 2006 and 2007, respectively. The three year average growth rate for the recent past is 203.9%.
Forward-Looking Statements.
FWIW Acorn Management has a $3.80 price target set for ETGF is their latest report.
Up 50%, I dont think this was a broad market rally affect. I think it is either beginning of the year buying or something is up.
Im sure someone is making money around here but it sure isn't the sharehodlers.
Element 21 Golf Announces 250% Growth in Retail Outlets
Thursday December 4, 10:20 am ET
TORONTO--(MARKET WIRE)--Dec 4, 2008 -- Element 21 Golf Company (OTC BB:ETGF.OB - News) (Frankfurt:BJQ.F - News), the leading manufacturer of advanced Scandium Alloy golf and fishing equipment, announced today that it has expanded distribution for its unique line of golf and fishing products. The Company's golf and fishing product lines are now carried in 450 stores, an increase of 275 stores from year-end (June 30, 2008).
The 450 store count does not include many of the national chains, as the majority of the Big Box stores locations are coming on board in the 2009 season. Geographically, Element 21 equipment is well represent by retailers in 30% of the USA only, so that 70% of the USA territories are open for expansion and introduction of Element 21 fishing rods -- The Carrot Stix(TM). This means that Element 21 growth will continue even in this difficult economic environment. To date, Element 21 Sales continue to be strong during the holiday season and based on the pre-orders for the spring 2009 delivery.
"Our footprint has increased by 2.5 time in the last 4 months, indicating significant market penetration of the Carrot Stix(TM) . Our strong revenue growth reflects the consumer demand for our unique brand of golf and fishing products," said Nataliya Hearn, President and CEO of Element 21. "As our results reflect, growing numbers of golfers and fishing enthusiasts seeking a competitive edge are selecting Element 21's products."
About Element 21 Golf Company:
Element 21 Golf Company develops and markets award winning golf and fishing products made from the Company's next-generation, proprietary Scandium Alloys. Element 21's high performance products deliver dramatic improvements in distance, consistency, accuracy and feel over the most popular products in the US $5.5 billion golf and the US $48 billion international fishing markets.
Originally developed for advanced aeronautics in jet fighters, Element 21's patented Scandium Alloys provide the highest strength-to-weight ratio of any material currently used in sports -- 25% improvement over Titanium, 40% improvement over Graphite/Epoxy, 52% improvement over Aluminum, 70% improvement over Steel. They also provide unique vibration dampening properties resulting in products with unprecedented feel over competing materials.
Element 21 Golf Company has recently expanded its product line to include fishing equipment that has quickly secured international recognition by winning several top honors at ICAST 2008 and ICAST 2007, the world's largest sports fishing trade show.
Forward-Looking Statements
Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward-looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated, including but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting e21 and its business. A number of these risks and uncertainties are described in e21's periodic reports filed with the Securities and Exchange Commission. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein, which speak only as of the date hereof. Element 21 undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Company Contacts: Investor Relations: Gregory S. Lowe/John R. Exley, III Acorn Management Partners, LLC Toll Free: 866-491-3739 Direct: 678-368-4002 http://www.acornmanagementpartners.com JRE@acornmanagementpartners.com
There is some new interest in ETGF.OB
http://www.acornmanagementpartners.com/clients/client.aspx
I have added at several points, averaging down. I would need a big buy at this level, to get me at break even at $1. Maybe I will get to that point.
I am looking to buy more, I think we are about to have a major turn around.
Anyone know what this means:
Accounting & Governance Risk Overview: Element 21 Golf Co
01:48 a.m. 10/28/2008 Provided By Research
Element 21 Golf Co (ETGF)
is currently rated as having
Average
Accounting & Governance Risk (AGR®), receiving an AGR Score of
68 out of a possible 100.
This places them in the
45th
percentile among the approximately 8,000 companies rated by Audit Integrity,
indicating higher accounting and governance risk
than 55% of the other companies.
That was a joke right. Do you have many stocks that are higher lately?
With the overall market being in the crapper and some bigger names stocks in Penny status (<$5). I think that ETGF could get more consideration from people once things turn around.
I may be grasping at straws here but its worth discussing.
Do you have a purpose? EM
Up to .55, still no shares available??? EM
Trying to get more shares but the bid at .50 just is not good enough. I will leave it out there.
She said no more dilution, sales are increasing enough so they can "breath on their own".
At $7m should be cash flow break even to positive. Could happen within the next 12 months.
Conference Call is a must listen. Atleast for Q&A EM
http://sec.gov/Archives/edgar/data/797662/000114420408054973/v127547_10ksb.htm
This is why I bought more today. Only 250 shares.
That is the first I have seen of it. THings are moving along, a small glimmer of hope in this stock market.
Scandium Metal Shafts are exclusively distributed in USA by Kanata Shaft Company. Additional information on the Scandium Shafts can be found at: 1-888-574-2387 (order line), 1-877-722-1911 (tech line).
Interesting ending to the PR. It looks like Kanata is doing something.
Only lost .44 compared to 1.48, I would say that fishing is doing its job and with a FEDEX championship, Golf should start turning more heads.
Its a lot of shares, maybe we are going to sponser someone big or maybe just pay the current consultants more. I would not give Noblio, Smith or Pate anything more, they dont mention E21 ever.
I have to disagree, they did PR his last win and I dont recall any high finishes since. Also the sticker on his shafts, from the pictures, looks exactly like the ones on my shafts.
None of it really matters because the sellers outweigh the buyers.
Boo uses E21 shafts, this is a known fact. EM
The move to EDI is a big step for ETGF. I know in apparel, unless you do EDI, you are small. The big step is setting up EDI and its ususally done when HUGE sales are expected.
LOL it went down to 1.50 because it sucks that it happened at all and people did not like it one bit.
Ease up cowboy, that PR was out before your dumb posts were made.
Who are you Al Gore?
Dont you mean
warm jackets to look forward to. (siNgh)
Are you joking, try using a professional athlete's name without his/her permission and you set your self up for some lawsuits.
That is the best they can do and even that may be pushing it.
I shot my first round under 80, a 79 and my driver was nothing to write home about. It was all done with the E21 irons and hybrids. I hit every green that I saw, from both the rough and the fairway. If I played on a course with slightly larger holes, it may have been even par.
Some days it feels like there are about 7.
I am hoping for something to happen.
I think its great that they have new products coming out that go directly to a store. This will make it easier to introduce golf product also because they are building a reputation. I still think an OEM contract for the shafts by Kanata is the next big thing, then you may get that $10 price and jacket.
The jackets seems to be getting a lot of attention:
http://sports.espn.go.com/espn/print?id=3494491&type=story