Press Release from E21 Golf

[pitchmaster1224]

Good Morning,

 

The following is a Press Release dated December 16, 2005 from Element 21 Golf Company.

Should you have any questions or require additional information, do not hesitate to call the number or e-mail the address noted at the conclusion of this release.

And, if you have an interest in purchasing or testing the Company's fine Scandium equipment, please call our sales office at (416) 362-2121.

 

Sincerely,

 

E21 Investor Relations

 

Press Release Source: Element 21 Golf Co.

 

Element 21 Golf Company Appoints Chief Financial Officer & Reports on USGA Approval Process

Friday December 16, 3:07 pm ET

TORONTO--(MARKET WIRE)--Dec 16, 2005 -- Element 21 Golf Company (E21) (OTC BB:EGLF.OB - News) reported today that it has appointed Mr. John Grippo, CPA as its Chief Financial Officer (CFO).

Mr. Grippo brings over 15 years of experience as a CFO for public and private companies. These companies have been involved in manufacturing, distribution and financial services industries ranging in size up to $250 million in revenue. He currently serves as an independent board member and audit committee chairman for SilverStar Holdings, LLC. John graduated from the University of Florida, is certified by the State of Connecticut and is a member of the New York State Society of Certified Public Accountants.

"John will be an invaluable addition to the E21 team," stated E21 President and CEO, Dr. Nataliya Hearn. "He will oversee all financial aspects of the Company including audits and SEC filings, financial planning and record-keeping. He will also be instrumental in E21's funding activities. We have been talking with John for several months now and he has a very clear understanding of our business," said Dr. Hearn.

E21 also reports that it has received a formal acknowledgement from the USGA that an official ruling is under way for the Scandium Shock driver, case number 2005-956, and the Eagle OneTour driver shaft, case number 2005-957. The company will use best efforts to expedite official ruling on the driver and the driver shaft.

The company has 1000 drivers on order to be available for the release at the 2006 PGA show, and expected to ship one-time pre-order drivers prior to New Year. For clarity's sake the company will not sell or ship pre-ordered drivers prior to receiving the ruling of the USGA. E21 will however, send drivers to several interested golf companies prior to the USGA ruling. The company is not announcing the official launch date of a Scandium Eagle One Driver shaft until finalizing the extensive alloy, equipment and manufacturing path.

To hear more about the Scandium Shock driver we have two earlier recorded radio interviews with Dr. Howard Butler and Jim Morin, Vice President of E21. Please click on www.e21.ca/media/e21_radio_interview_2.php and www.e21.ca/media/e21_radio_interview.php

About Element 21 Golf Company:

Prior to the end of the 2005 PGA Tour an unprecedented number of high profile golf professionals have switched or began testing E21's Scandium Eagle One shafts. Element 21 is utilizing its experience working with advanced Scandium metal alloys to introduce this unique space-age material to the golf industry. Scandium alloys were originally developed for application in aerospace application including MiG series fighter jets, leading-edge missile applications, and the International Space Station.

Scandium metal alloy clubs represent the first new innovation in golf clubs in decades. Scandium provides significant increases in distance as well as accuracy and consistency. Due to Scandium's advanced composition, coupled with numerous design innovations, these clubs offer improved feel while reducing shock transfer to the player's hands.

E21 Golf -- The Evolution Is Inevitable!

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 that involve risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. A number of these risks and uncertainties are described in our reports filed with Securities and Exchange Commissions. There can be no assurance that such statements will ever prove to be accurate and readers should not place undue reliance on any such "forward-looking statements" contained herein.

 

Contact:

Contact:

 

Media members interested in testing shafts or other E21 products for an

editorial review or receiving further information please contact:

 

Contact:

The Media Group

Joe Wieczorek or Bart Henyan

(847) 956-9090

[email protected]

[email protected]

 

Contact:

Investor Relations

Element 21 Golf Company

(416) 362-2121

http://www.E21Golf.com

 

 

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[theinsider]

Grippo will be in tough with this outfit.

 

They are a lot of money in the hole right now to start with. Check their SEC filings. http://businessweek.brand.edgar-online.com...55304&Type=HTML (You can read about their new products there as well as seeing the hidden secrets of the company that marketing won't hide)

 

My favourite quote:

 

"We have a history of substantial operating losses and an accumulated deficit of $12,716,481 as of June 30, 2005, of which $3,261,401 represents development stage losses and $8,102,149 represents accumulated losses. For the year ended June 30, 2005, our net loss was $1,352,931. We have historically experienced cash flow difficulties primarily because our expenses have exceeded our revenues. We expect to incur additional operating losses for the immediate near future. These factors, among others, raise significant doubt about our ability to continue as a going concern. If we are unable to generate sufficient revenue from our operations to pay expenses or we are unable to obtain additional financing on commercially reasonable terms, our business, financial condition and results of operations will be materially and adversely affected."

 

They are trying to prop up their visibility right now as they have an infomercial coming up with a driver rollout. A 28 minute job by "Amazing Discoveries"

 

Their tour rep also just left to join on exclusively with another company.

 

Read into it what you will.

 

Not trying to beat on these guys but sometimes what they don't tell you in the press release is the real story.

 

Just thought I would provide some fodder so people could see the underbelly of trying to be a "playah" in the golf business.

 

Be interested to hear any comments.

[pitchmaster1224]

"Fiscal 2005 has been a transitional year for the Company - from development stage status to purchases of actual products and subsequent sales."

 

I am betting their name will catch on in '06, and, as a result, will be significantly better off financially. Sometimes you have to take a couple steps back in order to really make a move. I do hope they will be able to make it through. This tech. could potentially be the next 'big' thing in golf and already several well known tour players have made the switch or are planning to. Once the general public sees this, their curiousity will kick in. All the best E21!

[theinsider]

"Fiscal 2005 has been a transitional year for the Company - from development stage status to purchases of actual products and subsequent sales."

 

I am betting their name will catch on in '06, and, as a result, will be significantly better off financially. Sometimes you have to take a couple steps back in order to really make a move. I do hope they will be able to make it through. This tech. could potentially be the next 'big' thing in golf and already several well known tour players have made the switch or are planning to. Once the general public sees this, their curiousity will kick in. All the best E21!

 

Retail price will also be a factor; they are not cheap and that will make it hard for people to buy them to just "test" out.

 

The informercial should ensure more name recognition but we will have to see what that translates into.

 

Unfortunately a few of the tour players who tried them switched back almost immediately.

 

Only time will tell...Maybe I'll regret not picking up the stock at $.08 right now. :dntknw: