Mornin' John, Bryan et al,
Here's the press release:
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Carbite Golf Sets Record, Increases Sales By More
Than 33 Percent At 1997 PGA International Golf
Show In Las Vegas
September 17, 1997
Carbite Golf recorded more than a 33 percent increase in sales at the
1997 PGA International Golf Show held in Las Vegas, Sept. 8-11.
The increase breaks a significant Carbite sales record set at last
year's show, due in part to the extensive company exposure created
by Carbite's Gyroseven utility wood and Viper Bite wedge
infomercials, announced Carbite's president, Michael Spacciapolli.
According to Spacciapolli, Carbite's patented powder metallurgy
technology drove the strong sales increases for all product lines
including: Dual Density Putters, Diatanium Wedges, Check-Mate
Wedges and Putters, Viper Bite Wedges and Irons and the
Gyroseven Utility wood.
"Consumers and retailers alike are seeing the real playability
enhancement derived from our powder metallurgy technology," said
Spacciapolli. "Our patented process allows us to molecularly
combine dramatically dissimilar materials, which can increase putter
forgiveness by as much as 65 percent and maintains optimum
backspin from wedges, irons and woods."
Illustrating the playability enhancement derived from Carbite's
technology, Javier Livas of Mexico sank 52 consecutive 12-foot putts
with a Carbite JS-1 Putter to win $1,000 at this year's International
Show.
Carbite Technology is based on advanced powder metallurgy which
allows molecular bonding of dissimilar materials. The patented
technology permits golf club designs with a "material advantage" that
dramatically increases putter moment of inertia and maintains
optimum back spin from wedges and irons.
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I'm still follwing the company but have not heard any specific news. Consequently, no news - no posts. I still believe the company has the "goods" to be a winner. My guess is the loss in share value is because there is not much excitement with the company right now. However, they are generating revenue despite the losses this year.
My guess is that much of the focus, from the share value point of view, is on securing a NASDAQ listing. Until then the BIG interest in this company will be lacking.....well, that's my opinion.
I think it's interesting tho', that they just put a guy formerly of Calloway Golf on Carbite's board of directors as Vice-Chairman....:
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Carbite Golf Names David Watkins Vice-Chairman
June 17, 1997
Company officials announced today that David Watkins was elected
to the board of directors and will serve as vice-chairman of Carbite
Golf Inc. (Vancouver: CAB). Watkins, who previously worked for
Callaway Golf as vice-president of corporate communications and
investor relations from 1994 to 1995, will contribute to both short and
long-term corporate strategies as well as guide Carbite investor
relations activities.
Founder of Carbite Golf and developer of Check-Mate Wedges, Chet
Shira, said, "We are quite pleased to have David on our team. His
background in finance, venture capital and with investors will help us
achieve our ambitious growth plans in the coming years."
Most recently, Watkins was co-owner and managing partner of
Portfolio Management, Inc. in Little Rock, Arkansas. He also founded
and managed several companies including The Watkins Group, an
investment banking company; Franchise Group International;
Amerinet Corporation, an OTC corporation involved in national project
marketing; Southnet Corporation; Arkansas Cellular Communications
Inc.; and TMC of Arkansas, a long distance telephone company. He
also served as an assistant to President Bill Clinton for Management
and Administration in the White House.
Watkins was educated at the University of Arkansas and The
Graduate School of Business Administration at the University of
Arizona.
The company also wishes to announce that Chet Shira has
consented to act as a director and that the board has been increased
from six directors to seven to accommodate this addition. As part of
this reorganization, Chet Shira has consented to act as chairman of
the board, Richard Thompson will act as president and Ronald
Reimer will act as secretary.
Carbite Technology is based on advanced powder metallurgy, which
allows the molecular bonding of dissimilar materials. The patented
technology permits golf club designs with a "material advantage" that
dramatically increases putter moment of inertia and maintains
optimum backspin from wedges and irons. The Carbite Golf product
line includes Dual Density Putters, Diatanium Wedges, Check-Mate
Wedges and Putters, and Viper Bite Wedges and Irons.
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More info availabe at carbitegolf.com
over and out for now
Bill |
