Some thoughts to ponder.....
1. All this talk about Tiger's Bag. Didn't see it, Did see it.... Can we move on from the bag as it relates to seeing it on TV?
What is on Phil's Bag or Charlie Wi's?? - Hell, I could not tell you and I had the chance to see it once or twice this afternoon on TV.
My point is, the potential investor is not watching this on TV. The shots are quick, sometimes fuzzy (background) and quite frankly the golf enthusiast who is watching it on TV is NOT looking for Tiger's Bag. (They were looking for him to make those 2 footers he kept missing)
Call a Buddy who does not know this is on his bag and ask them "Do you know what sponsor is on Tiger's Bag" They will not know.
The real benefit of Fuse on his bag, is for the 100,000 paying tournament fans who are walking and following him throughout the week. Make no mistake, Golf enthusiasts typically have above average income, a good percentage have or have had an investment in stocks at some point and are also more likely to take a position in a risky stock. Having it on Tiger's bag will draw their attention to the name and I bet some will look it up.
As a person, who goes to a couple of these tournaments each year (The Player's Championship and Bay Hill) I can tell you that this is the benefit. Especially those like me, who buy the week long passes (Practice and Tournament rounds) and pay extra for the bene tent access. (Players and caddie access) Thousands pay for this perk.
His Bag on TV, might make some of us feel better, but we are looking for it, potential investors watching TV, no way, they don't even see it.
2. Wish he would mention Fuse in his after round interview, or maybe Enerjel or Drops or something.....
Have you ever heard him mention Rolex, Nike, Buick, Gatorade, EA etc. in an after round interview unless it was specifically brought up by the interviewer? He is like you and I. He is thinking about his round, the good and bad and what he needs to do for the next round.
He will potentially play in at least 10 to 14 tournaments if he stays healthy this year. That's 1m + potential investors up close and personal to see FUSE on his bag. That's 7 months of a walking billboard on the golf course for the fans who are there.
While some of you may not like this and disagree with my thoughts, I think this needs to be put into perspective as the expectation is way too high as to it's impact on TV or that he will ever mention FUSE out the blue in an after round interview.
3. One last note, I am not sure if you all read the 8k and tied a few things together. I could be wrong on my assumption, but, it is interesting that:
1. Warrant A - 5 year term (Typical)
2. Warrant B - 7 Month term (Less Typical)
3. MGMT Lockup - No personal shares can be sold for 8 Months
4. Golf Tournaments Tiger will play in end in 7 Months
5. This is the First Year Golf Fans at tournaments will see FUSE on Tigers bag. Potential new investors at every tournament he plays.
6.Drop Launch - sometime in the 1st half of 2012
Who do you think structured the 7 month Warrant B terms? I can almost guarantee this came from the investor group and not FUSE.
I call it a hedge and a play for the "Tiger Effect" and of course the drop launch. 50% of their structure is in Warrant A and 50% in Warrant B. So, if the price runs well into September (FEDEX Championship and Ryder Cup), they can exercise the B's, get their initial investment out and let the rest run. Pretty good plan for them.
My point is, that it appears that they built a good hedge into the investment agreement that lines up with Tiger's Golf Season and Locked Mgmt up to protect the share price appreciation.
I know someone will say, no this time period is for the Drop launch. It is okay, you can have your opinion and I am good with it but, the timing is interesting and makes sense to me if I were them.
AI
