Scottsdale, Ariz. – July 18, 2017 Digital Caddies, Inc. (OTCPK: CADY)(the “Company”), a leader in cloud based content, media and technology services for golf courses, golfers and advertisers is pleased to provide the following corporate update:
As announced June 28, 2017, the company completed their planned acquisition of Adzzup, Inc. creating a unique organization that fulfills the technology and marketing needs for both golf courses and advertisers. Sales of the combined company are on track to top $1.5M over the next 12 months. The company now has the processes, people and systems in place to support accelerated growth of golf course and advertising clients. With the completion of the acquisition, the Company intends to pursue a formal name change to IZON Technologies and to begin trading under the symbol IZON, (upon approval from FINRA).
The Company has restructured over $7M of debt into a combination of common shares, preferred equity, and a small, capped royalty on revenue (royalty begins in the third year following the acquisition). The elimination of this debt is a significant step forward which will allow the Company to grow with greater flexibility and less financial obligations.
The company recently released their latest software upgrade that includes many new features benefiting both the golfer and the golf course. The primary upgrades are enhanced aerial view graphics and an easy to use digital scorecard that allows to golfers to fully track their game. The digital scorecard captures players emails providing golf courses an important new touch-point to all their golfers. The new upgrade also includes a beverage cart notification button to make the delivery of food and beverages on the course more efficient, thus, improving on course sales and the golfer’s overall experience.
Over the last few months, the Company has been actively working to secure technology and industry partnerships that will improve many aspects of our business from distribution to national advertising sales. We will provide updates on these strategic initiatives as they are signed in the near future.
New Leadership Team and Board; Resignation of Mr. Konyi
A new leadership team, board of directors and advisory group has been assembled that collectively bring a long track record of launching & building very successful tech & golf startup companies. With the new team now in place, Mr. Theodore Konyi, has decided to resign from the board of directors of the Company to be able to spend more time on his other endeavors. Mr. Konyi’s resignation was not the result of any disagreements with the Company, its policies or practices. The Company would like to sincerely thank Mr. Konyi for his many years of service, leadership and contributions to the Company and wish him the very best of luck.
Jeff Hosek, CEO said “With so much ahead of us, I am happy to say, we are now uniquely positioned to capitalize on a multi-billion dollar market opportunity in advertising and technology. With over 40,000 golf courses worldwide and billions of dollars being spent on digital advertising every year, we have an opportunity that is tremendous.”
About Izon Technologies (Currently named Digital Caddies, Inc.),
IZON Technologies provides cloud based technology solutions that benefit golf courses, golfers, and advertisers. Our proprietary platform, IZON Network, gives golf courses the tools they need to manage their facility, generate more revenue and save money. Once a course is installed with the IZON Network, golfers enjoy a variety of useful applications and services, including GPS-based course navigation and aerial fairway and green views with accurate yardages to landmarks. As the network evolves, golfers will be provided many new features, content and media that will enhance the golfing experience. All this interactive content keeps golfers continually engaged while they play golf, providing advertisers the opportunity to interact with people in ways that have not been possible before.
IZON Technologies is committed to ongoing innovation for the IZON Network that will deliver valuable content to golfers, enhance golf course operations and allow marketers to reach a highly sought-after and lucrative demographic.
Investor Contact: Mike Kordysz
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Digital Caddies, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Digital Caddies, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Digital Caddies, Inc.’s filings with the Securities and Exchange Commission.