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Element 21 Golf Company (OTCBB : EGLF)
This is an update on the original profile report prepared June 29, 2005, covering business developments over the last 6 months. To view the original profile, click here.
Element 21 Golf Company has had a busy and productive year. The Company has completed design and development of a full complement of Scandium Alloy clubs. In addition, extensive trial sessions with PGA professionals have been conducted. By December 31st, 2005 at least 17 PGA tour professionals were either having their clubs re-shafted with E21's patented Scandium alloy shafts for tour play or more extensive testing. Significantly, of these players, 15 played at the season ending Tour Championship that was exclusive to the top 30 money winners in 2005.
The speed with which the Scandium metal alloy shafts have attracted attention at the highest levels of professional play is unprecedented. Importantly, the golf industry in general has started to take notice. In addition to editorial coverage in a number of specialty golf magazines, the Company's new Shock Driver is featured on the cover of Golf Today Magazine, and is starting to receive more extensive editorial coverage in response to the 'buzz' E21's unique patented Scandium metal alloy clubs have been generating within the industry.
Element 21 Profile - June 29, 2005
Update to Element 21 Profile - January 27, 2006
Click here to see editorial coverage of E21 products in the news.
Reporting from the 2006 PGA Merchandise Show being held at the Orange County Convection Center running from January 26th to 29th, Mr. Bill Dey, E21's new Executive Vice President and General Manager, stated "The past two days have been very encouraging. We have certainly gotten the attention of the golf industry. We have had positive meetings with green grass pro shops, golf retailers, international and European distributors, other golf companies as well as Asian component companies. Having a full line of golf equipment utilizing Scandium technology has resulted in significant interest. We look forward to the next two days of the show."
The Scandium metal alloy clubs offer a number of benefits to both professional and amateur golfers. Scandium is 55% lighter and 25% stronger than titanium alloys. The weight advantage increases to 75% when compared to stainless steel. Its uniform crystalline structure allows for unequalled consistency from club to club, as well as unparalleled 'feel' at point of contact.
As previously reported, the Company began receiving prototypes of its new golf products in September 2005 for quality control evaluation, testing and sampling purposes. In October 2005, the Company made final adjustments to the weight of its driver and new irons, made final decisions on all club cosmetics, and proceeded with a limited production of drivers, iron and wedge sets, hybrid clubs and putters. The Company is currently in the process of making limited deliveries to pre-order customers, E21's sales agents, retailers and distributors, several US and Japanese golf companies, and the USGA.
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