ProLink Solutions, LLC, the world’s largest provider of GPS services to golf courses, has completed its previously announced transaction with Amalgamated Technologies, Inc.(“AGMN”)
In connection with the transaction, the members of ProLink exchanged their membership interests in ProLink for capital stock of AGMN. As a result, ProLink became a subsidiary of AGMN. ProLink will pursue a change in AGMN’s name to ProLink Solutions, and will apply for a new ticker symbol from the Over-the-Counter Bulletin Board System.
AGMN has 37,119,186 million fully diluted shares outstanding post transaction, of which the former members of ProLink hold approximately 72 percent. Steve Fisher, of FOC Financial will serve as Chairman of the board and Lawrence D. Bain will serve as AGMN’s President and Chief Executive Officer.
“This new, public platform is the culmination of years of hard work by the entire ProLink team to significantly grow our installed customer base, improve our profitability and initiate our plans to diversify our revenue streams,” commented Mr. Bain. “Our differentiated and proprietary offering has emerged as the leader in cart-based GPS related services in the marketplace. The momentum our product has gained by demonstrating a tangible return on investment for both our customers and the golfers they serve has resulted in over 700 golf course installations worldwide to date.
“We will continue to grow our business by enriching and enhance the revenue opportunities for our golf course partners. Also, by leveraging our global footprint to add complementary services, such as direct advertising, we should increase our revenues with limited incremental cost. Finally, with the start of our recent financing initiative we should shorten our sales cycle, facilitate customer purchases, and provide our customers with a new financing alternative for their ProLink system as well as their other necessary capital expenditures. With this transaction now complete we are poised to move ProLink Solutions forward as a highly visible and successful public entity.”
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